EMPLOYMENT AGREEMENTEmployment Agreement • December 21st, 2012 • ASB Bancorp Inc • Savings institution, federally chartered • North Carolina
THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of the 18th day of December, 2012, by and between ASHEVILLE SAVINGS BANK, S.S.B., a North Carolina chartered savings bank (the “Bank” or the “Employer”), and VIKKI D. BAILEY (“Executive”). References to the “Company” herein shall mean ASB Bancorp, Inc., a North Carolina corporation.
FORM OF ESOP LOAN AGREEMENTPledge Agreement • May 26th, 2011 • ASB Bancorp Inc • North Carolina
THIS LOAN AGREEMENT (“Loan Agreement”) is made and entered into as of , 2011, by and between PENTEGRA TRUST COMPANY, AS THE TRUSTEE FOR THE ASHEVILLE SAVINGS BANK, S.S.B. EMPLOYEE STOCK OWNERSHIP PLAN TRUST (“Borrower”), a trust forming part of the Asheville Savings Bank, S.S.B. Employee Stock Ownership Plan (“ESOP”), and ASB BANCORP, INC. (“Lender”), a corporation organized and existing under the laws of North Carolina.
EMPLOYMENT AGREEMENT Amended and Restated as of June 16, 2015Employment Agreement • August 7th, 2015 • ASB Bancorp Inc • Savings institution, federally chartered • North Carolina
THIS EMPLOYMENT AGREEMENT (the “Agreement”) amends and restates as of June 16, 2015, the Employment Agreement dated as of the 18th day of December, 2012, by and between ASB BANCORP, INC., a North Carolina corporation (“Company”), ASHEVILLE SAVINGS BANK, S.S.B., a North Carolina chartered savings bank (the “Bank”), and Vikki D. Bailey (“Executive”). For purposes of this Agreement, the term “Employer” shall mean the Company and the Bank.
ESOP TRUST AGREEMENT BETWEEN PENTEGRA TRUST COMPANY AND ASHEVILLE SAVINGS BANKEsop Trust Agreement • July 13th, 2011 • ASB Bancorp Inc • Maine
THIS AGREEMENT OF TRUST (the “Agreement”) is effective as of July 1, 2011, by and between ASHEVILLE SAVINGS BANK, Candler, North Carolina, a chartered corporation (the “Company”) and PENTEGRA TRUST COMPANY, a non-depository trust company incorporated under the laws of the State of Maine (the “Trustee”);
AGREEMENT AND PLAN OF MERGER AND REORGANIZATION By and Between ASB BANCORP, INC. And FIRST BANCORP May 1, 2017Agreement and Plan of Merger and Reorganization • May 1st, 2017 • ASB Bancorp Inc • Savings institution, federally chartered • North Carolina
THIS AGREEMENT AND PLAN OF MERGER AND REORGANIZATION (this “Agreement”) dated as of May 1, 2017, is by and between First Bancorp, a North Carolina corporation (“Buyer”), and ASB Bancorp, Inc., a North Carolina corporation (“ASBB”). Capitalized terms used in this Agreement but not defined elsewhere herein shall have the meanings assigned to them in Section 10.1 hereof.
STOCK REPURCHASE AGREEMENTStock Repurchase Agreement • July 22nd, 2014 • ASB Bancorp Inc • Savings institution, federally chartered • North Carolina
THIS STOCK REPURCHASE AGREEMENT (this “Agreement”) is made and entered into as of July 18, 2014, by and among ASB Bancorp, Inc., a North Carolina Corporation (the “Company”) and each of the entities listed on Schedule I hereto (each a “Seller,” and collectively, the “Sellers”).
ARTICLE I 1 DEFINITIONS 1 1.1 ACTUAL CONTRIBUTION PERCENTAGE (ACP) 1 1.2 ACTUAL DEFERRAL PERCENTAGE (ADP) 1 1.3 ADOPTION AGREEMENT 2 1.4 AGGREGATE LIMIT 2 1.5 ALLOCATION DATE(S) 2 1.6 ANNUAL ADDITIONS 2 1.7 ANNUITY STARTING DATE 3 1.8 APPLICABLE...ASB Bancorp Inc • July 13th, 2011
The Sponsor hereby establishes this Plan for use by its clients who wish to adopt a qualified retirement plan. This Plan shall be interpreted in a manner consistent with the intention of the adopting Employer that this Plan satisfies Internal Revenue Code Sections 401 and 501. Any Plan and Trust established hereunder shall be so established for the exclusive benefit of Plan Participants and their Beneficiaries and shall be administered under the following terms and conditions:
FORM OF EXECUTIVE OFFICER EMPLOYMENT AGREEMENTExecutive Officer Employment Agreement • May 26th, 2011 • ASB Bancorp Inc • North Carolina
THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of the day of , 2011, by and between ASB BANCORP, INC., a North Carolina corporation (“Company”), ASHEVILLE SAVINGS BANK, a North Carolina chartered savings bank (the “Bank”), and (“Executive”).
FORM OF RESTRICTED STOCK AWARD AGREEMENT FOR THE ASB BANCORP, INC. 2012 EQUITY INCENTIVE PLAN2012 Equity Incentive Plan • June 6th, 2012 • ASB Bancorp Inc • Savings institution, federally chartered
This Award Agreement is provided to (the “Participant”) by ASB Bancorp, Inc. (the “Company”) as of (the “Grant Date”), the date the Compensation Committee of the Board of Directors (the “Committee”) awarded the Participant a restricted stock award pursuant to the ASB Bancorp, Inc. 2012 Equity Incentive Plan (the “2012 Plan”), subject to the terms and conditions of the 2012 Plan and this Award Agreement:
STOCK REPURCHASE AGREEMENTStock Repurchase Agreement • November 25th, 2015 • ASB Bancorp Inc • Savings institution, federally chartered • North Carolina
THIS STOCK REPURCHASE AGREEMENT (this “Agreement”) is made and entered into as of November 19, 2015, by and among ASB Bancorp, Inc., a North Carolina Corporation (the “Company”), and FVP Master Fund, L.P., a Cayman Islands exempted limited partnership (the “Seller”).
AGREEMENTAgreement • January 21st, 2016 • ASB Bancorp Inc • Savings institution, federally chartered • North Carolina
THIS AGREEMENT (the “Agreement”), dated this 20th day of January, 2016, is by and among ASB Bancorp, Inc. (the “Company”) and Asheville Savings Bank (the “Bank,” and collectively with the Company, “ASB”), Seidman and Associates, L.L.C. (“SAL”), Seidman Investment Partnership, L.P. (“SIP”), Seidman Investment Partnership II, L.P. (“SIPII”), Seidman Investment Partnership III, L.P. (“SIPIII”), LSBK06-08, L.L.C. (“LSBK”), Broad Park Investors, L.L.C. (“Broad Park”), Chewy Gooey Cookies, L.P. (“Chewy”), 2514 Multi-Strategy Fund, L.P. (“2514 MSF”), CBPS, LLC (“CBPS”), Veteri Place Corporation (“Veteri”), JBRC I, LLC (“JBRC”), and Lawrence B. Seidman, an individual (“Seidman” and collectively with SAL, SIP, SIPII, SIPIII, LSBK, Broad Park, Chewy, 2514 MSF, CBPS, Veteri, and JBRC, the “Seidman Group” (each a “Seidman Group Member”)), and Kenneth J. Wrench, an individual (“Wrench”).
ASB BANCORP, INC. up to 7,245,000 Shares (subject to increase up to 8,331,750 shares) COMMON SHARES ($0.01 Par Value) Subscription Price $10.00 Per Share AGENCY AGREEMENTAgency Agreement • July 29th, 2011 • ASB Bancorp Inc • New York
Conversion and the issuance of the Shares, except as may be required under the securities or blue sky laws of various jurisdictions (as to which no opinion need be rendered) and except as may be required under the rules and regulations of the FINRA (as to which no opinion need be rendered).
