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EXHIBIT 10.13 Subscription Agreement
To the Board of Directors
of Lehigh Acres First National Bancshares, Inc.
I hereby subscribe for and agree to purchase the number of shares of
common stock of Lehigh Acres First National Bancshares, Inc., a Florida
corporation (the "Company"), set forth opposite my signature below (the
"Shares"). I have previously contributed funds to cover the start-up expenses
of the Company and desire to use these funds as the purchase price for the
Shares.
I am purchasing a total of 1,500 Shares, at $10 per share, for a total
of $15,000, paid through funds previously contributed to the Company. In lieu
of the Company reimbursing me for these funds and in satisfaction of any
liability the Company owes to me with respect to these funds, I am using these
funds to purchase Shares; and
In order to induce the Company to sell me the Shares, I represent
that:
(a) I am a director of the Company, and I am purchasing
the Shares for my own account for investment only,
and not with a view to, or for sale in connection
with, any distribution of the Shares in violation of
the Securities Act of 1933, any applicable state
securities laws, or any rule or regulation
thereunder (collectively, the "Securities Laws").
(b) I understand that (i) the Company's sale of the
Shares to me has not been registered under the
Securities Laws and therefore the Shares cannot be
sold, transferred, or otherwise disposed of unless
such transaction is subsequently registered under
the Securities Laws, or exemptions from such
registrations are then available; and (ii) a legend
to this effect will be placed on the certificate
representing the Shares.
(c) I understand that in the event the Company
successfully completes an initial public offering of
its common stock as registered under the Securities
Laws, the Company will redeem these shares from me
in the offering at $10.00 per share.
(d) I am purchasing these shares in a private offering
in connection with the formation of the Company to
be a bank holding company for Lehigh Acres First
National Bank.
Sincerely,
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Name:
Subscription Accepted and Receipt of Funds Acknowledged:
LEHIGH ACRES FIRST NATIONAL BANCSHARES, INC.
By:
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Name:
Title:
Date: June 22, 1999
