Purchase and Rights Offering Backstop Agreement Sample Contracts

October 2, 2015

Purchase and Rights Offering Backstop Agreement • October 2nd, 2015 • Community Shores Bank Corp • State commercial banks • Michigan

• Contract Type
  Purchase and Rights Offering Backstop Agreement
• Filed
  October 2nd, 2015
• Company
  Community Shores Bank Corp
• Industry
  State commercial banks
• Jurisdiction
  Michigan

This Share Purchase and Rights Offering Backstop Agreement (this “Letter Agreement”) is entered into by Community Shores Bank Corporation (“Community Shores”) and the persons listed on Exhibit A (each, a “Backstop Party”, and collectively, the “Backstop Parties”). This Letter Agreement sets forth the parties’ respective obligations with respect to an offering, described herein (the “Rights Offering”), of rights to purchase shares of Common Stock of Community Shores (“Common Stock”). Subject to the terms and conditions of this Letter Agreement, Community Shores intends the Rights Offering to provide for anticipated gross proceeds of up to $6,550,000.