January 2013 Via Hand Delivery [Senior Executive Officer] Dear [Senior Executive Officer], As you are aware, HopFed Bancorp, Inc. (the “Company”) entered into a Securities Purchase Agreement with the United States Department of Treasury (the...Hopfed Bancorp Inc • January 17th, 2013 • Savings institution, federally chartered
Effective December 19, 2012, the Company repaid the Federal Government the financial assistance it received under the CPP. At such time, the Federal Government only holds a warrant to purchase common stock of the Company. Accordingly, the limitations contained in your Letter Agreement are no longer applicable, and your Letter Agreement is hereby terminated effective as of December 19, 2012. The Company’s Board of Directors appreciates the concessions you have made and looks forward to your continued leadership during these financially turbulent times.
UNITED STATES DEPARTMENT OF THE TREASURYHopfed Bancorp Inc • January 17th, 2013 • Savings institution, federally chartered
Reference is made to that certain letter agreement (the “Repurchase Letter Agreement”), dated as of the date set forth on Schedule A hereto, between the United States Department of the Treasury (the “Investor”) and the company set forth on Schedule A hereto (the “Company”). Capitalized terms used but not defined herein shall have the meanings assigned to them in the Repurchase Letter Agreement.
