SMALL BUSINESS LENDING FUND – SECURITIES PURCHASE AGREEMENTSecurities Purchase Agreement • July 29th, 2014 • Select Bancorp, Inc. • State commercial banks • New York
THIS SECURITIES PURCHASE AGREEMENT (the “Agreement”) is made as of the Effective Date set forth above (the “Signing Date”) between the Secretary of the Treasury (“Treasury”) and the Company named above (the “Company”), an entity existing under the laws of the Jurisdiction of Organization stated above in the Organizational Form stated above. The Company has elected to participate in Treasury’s Small Business Lending Fund program (“SBLF”). This Agreement contains the terms and conditions on which the Company intends to issue preferred stock to Treasury, which Treasury will purchase using SBLF funds.
STATE OF NORTH CAROLINA COUNTY OF HARNETTEmployment Agreement • July 29th, 2014 • Select Bancorp, Inc. • State commercial banks • North Carolina
THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into by and among SELECT BANK & TRUST COMPANY (f/k/a New Century Bank), a North Carolina banking corporation (the “Bank”), SELECT BANCORP, INC. (f/k/a New Century Bancorp, Inc.), a North Carolina business corporation (the “Company”) and MARK A. HOLMES (the “Employee”) effective as of August 1, 2014 (the “Effective Date”).
UNITED STATES DEPARTMENT OF THE TREASURY Washington, D.C. 20220 July 25, 2014Select Bancorp, Inc. • July 29th, 2014 • State commercial banks • New York
Reference is made to that certain Small Business Lending Fund – Securities Purchase Agreement, dated as of August 9, 2011 (the “Acquired Company Securities Purchase Agreement”), by and between the Secretary of the Treasury (the “Treasury”) and Select Bancorp, Inc., a North Carolina corporation headquartered in Greenville, North Carolina (the “Acquired Company”). Further detail regarding the Acquired Company Securities Purchase Agreement is set forth on Schedule A hereto. Treasury and Select Bancorp, Inc., a North Carolina corporation headquartered in Dunn, North Carolina and formerly known as New Century Bancorp, Inc. (the “Acquiror Company”), desire to set forth herein certain additional agreements as a result of the consummation of a merger transaction pursuant to an Agreement and Plan of Merger and Reorganization dated as of September 30, 2013, by and between Acquiror Company and Acquired Company (the “Merger Transaction”), which Merger Transaction was effective as of the date hereo
