exv4w5






Exhibit 4.5




ANNEX E




FORM OF WARRANT TO PURCHASE PREFERRED STOCK



THE SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED, SOLD OR
OTHERWISE DISPOSED OF EXCEPT WHILE A REGISTRATION STATEMENT RELATING THERETO IS IN EFFECT UNDER
SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER
SUCH ACT OR SUCH LAWS. THIS INSTRUMENT IS ISSUED SUBJECT TO THE RESTRICTIONS ON TRANSFER AND
OTHER PROVISIONS OF A SECURITIES PURCHASE AGREEMENT BETWEEN THE ISSUER OF THESE SECURITIES AND
THE INVESTOR REFERRED TO THEREIN, A COPY OF WHICH IS ON FILE WITH THE ISSUER. THE SECURITIES
REPRESENTED BY THIS INSTRUMENT MAY NOT BE SOLD OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH
SAID AGREEMENT. ANY SALE OR OTHER TRANSFER NOT IN COMPLIANCE WITH SAID AGREEMENT WILL BE VOID.




WARRANT

to purchase

2,000.02

Shares of Preferred Stock

Of Reliance Bancshares, Inc.




Issue
Date: February 13, 2009




     1. Definitions. Unless the context otherwise requires, when used herein the
following terms shall have the meanings indicated.



     “Board of Directors” means the board of directors of the Company, including any duly
authorized committee thereof.



     “business day” means any day except Saturday, Sunday and any day on which banking
institutions in the State of New York generally are authorized or required by law or other
governmental actions to close.



     “Charter” means, with respect to any Person, its certificate or articles of incorporation,
articles of association, or similar organizational document.



     “Company” means the Person whose name, corporate or other organizational form and
jurisdiction of organization is set forth in Item 1 of Schedule A hereto.



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     “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any
successor statute, and the rules and regulations promulgated thereunder.



     “Exercise Price” means the amount set forth in Item 2 of Schedule A
hereto.



     “Expiration Time” has the meaning set forth in Section 3.



     “Issue Date” means the date set forth in Item 3 of Schedule A hereto.



     “Liquidation Amount” means the amount set forth in Item 4 of Schedule A hereto.



     “Original Warrantholder” means the United States Department of the Treasury. Any actions
specified to be taken by the Original Warrantholder hereunder may only be taken by such Person and
not by any other Warrantholder.



     “Person” has the meaning given to it in Section 3(a)(9) of the Exchange Act and as used in
Sections 13(d)(3) and 14(d)(2) of the Exchange Act.



     “Preferred Stock” means the series of perpetual preferred stock set forth in Item 5 of
Schedule A hereto.



     “Purchase Agreement” means the Securities Purchase Agreement — Standard Terms incorporated
into the Letter Agreement, dated as of the date set forth in Item 6 of Schedule A hereto, as
amended from time to time, between the Company and the United States Department of the Treasury
(the “Letter Agreement”), including all annexes and schedules thereto.



     “Regulatory Approvals” with respect to the Warrantholder, means, to the extent applicable and
required to permit the Warrantholder to exercise this Warrant for shares of Preferred Stock and to
own such Preferred Stock without the Warrantholder being in violation of applicable law, rule or
regulation, the receipt of any necessary approvals and authorizations of, filings and registrations
with, notifications to, or expiration or termination of any applicable waiting period under, the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations
thereunder.



     “SEC” means the U.S. Securities and Exchange Commission.



     “Securities Act” means the Securities Act of 1933, as amended, or any successor statute, and
the rules and regulations promulgated thereunder.




     “Shares” has the meaning set forth in Section 2.




     “Warrantholder” has the meaning set forth in Section 2.





     “Warrant” means this Warrant, issued pursuant to the Purchase Agreement.



     2. Number of Shares; Exercise Price. This certifies that, for value received, the
United States Department of the Treasury or its permitted assigns (the “Warrantholder”) is
entitled, upon the terms and subject to the conditions hereinafter set forth, to acquire from
the



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Company, in whole or in part, after the receipt of all applicable Regulatory Approvals, if any, up
to an aggregate of the number of fully paid and nonassessable shares of Preferred Stock set forth
in Item 7 of Schedule A hereto (the “Shares”), at a purchase price per share of Preferred Stock
equal to the Exercise Price.



     3. Exercise of Warrant; Term. Subject to Section 2, to the extent permitted by
applicable laws and regulations, the right to purchase the Shares represented by this Warrant is
exercisable, in whole or in part by the Warrantholder, at any time or from time to time after the
execution and delivery of this Warrant by the Company on the date hereof, but in no event later
than 5:00 p.m., New York City time on the tenth anniversary of the Issue Date (the “Expiration
Time”), by (A) the surrender of this Warrant and Notice of Exercise annexed hereto, duly completed
and executed on behalf of the Warrantholder, at the principal executive office of the Company
located at the address set forth in Item 8 of Schedule A hereto (or such other office or agency of
the Company in the United States as it may designate by notice in writing to the Warrantholder at
the address of the Warrantholder appearing on the books of the Company), and (B) payment of the
Exercise Price for the Shares thereby purchased, by having the Company withhold, from the shares
of Preferred Stock that would otherwise be delivered to the Warrantholder upon such exercise,
shares of Preferred Stock issuable upon exercise of the Warrant with an aggregate Liquidation
Amount equal in value to the aggregate Exercise Price as to which this Warrant is so exercised.



          If the Warrantholder does not exercise this Warrant in its entirety, the Warrantholder will
be entitled to receive from the Company within a reasonable time, and in any event not exceeding
three business days, a new warrant in substantially identical form for the purchase of that number
of Shares equal to the difference between the number of Shares subject to this Warrant and the
number of Shares as to which this Warrant is so exercised. Notwithstanding anything in this
Warrant to the contrary, the Warrantholder hereby acknowledges and agrees that its exercise of
this Warrant for Shares is subject to the condition that the Warrantholder will have first
received any applicable Regulatory Approvals.




     4. Issuance of Shares; Authorization. Certificates for Shares issued upon exercise of
this Warrant will be issued in such name or names as the Warrantholder may designate and will be
delivered to such named Person or Persons within a reasonable time, not to exceed three business
days after the date on which this Warrant has been duly exercised in accordance with the terms of
this Warrant. The Company hereby represents and warrants that any Shares issued upon the exercise
of this Warrant in accordance with the provisions of Section 3 will be duly and validly authorized
and issued, fully paid and nonassessable and free from all taxes, liens and charges (other than
liens or charges created by the Warrantholder, income and franchise taxes incurred in connection
with the exercise of the Warrant or taxes in respect of any transfer occurring contemporaneously
therewith). The Company agrees that the Shares so issued will be deemed to have been issued to the
Warrantholder as of the close of business on the date on which this Warrant and payment of the
Exercise Price are delivered to the Company in accordance with the terms of this Warrant,
notwithstanding that the stock transfer books of the Company may then be closed or certificates
representing such Shares may not be actually delivered on such date. The Company will at all times
reserve and keep available, out of its authorized but unissued preferred stock, solely for the
purpose of providing for the exercise of this Warrant, the aggregate number of shares of Preferred
Stock then issuable upon exercise of this Warrant at anytime. The Company will use reasonable best
efforts to ensure that the Shares may be issued



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without violation of any applicable law or regulation or of any requirement of any securities
exchange on which the Shares are listed or traded.



     5. No Rights as Stockholders; Transfer Books. This Warrant does not entitle the
Warrantholder to any voting rights or other rights as a stockholder of the Company prior to the
date of exercise hereof. The Company will at no time close its transfer books against transfer of
this Warrant in any manner which interferes with the timely exercise of this Warrant.



     6. Charges, Taxes and Expenses. Issuance of certificates for Shares to the
Warrantholder upon the exercise of this Warrant shall be made without charge to the Warrantholder
for any issue or transfer tax or other incidental expense in respect of the issuance of such
certificates, all of which taxes and expenses shall be paid by the Company.



     7. Transfer/Assignment.



     (A) Subject to compliance with clause (B) of this Section 7, this Warrant and all rights
hereunder are transferable, in whole or in part, upon the books of the Company by the registered
holder hereof in person or by duly authorized attorney, and a new warrant shall be made and
delivered by the Company, of the same tenor and date as this Warrant but registered in the name of
one or more transferees, upon surrender of this Warrant, duly endorsed, to the office or agency of
the Company described in Section 3. All expenses (other than stock transfer taxes) and other
charges payable in connection with the preparation, execution and delivery of the new warrants
pursuant to this Section 7 shall be paid by the Company.



     (B) The transfer of the Warrant and the Shares issued upon exercise of the Warrant are subject
to the restrictions set forth in Section 4.4 of the Purchase Agreement. If and for so long as
required by the Purchase Agreement, this Warrant shall contain the legends as set forth in Section
4.2(a) of the Purchase Agreement.



     8. Exchange and Registry of Warrant. This Warrant is exchangeable, upon the
surrender hereof by the Warrantholder to the Company, for a new warrant or warrants of like tenor
and representing the right to purchase the same aggregate number of Shares. The Company shall
maintain a registry showing the name and address of the Warrantholder as the registered holder of
this Warrant. This Warrant may be surrendered for exchange or exercise in accordance with its
terms, at the office of the Company, and the Company shall be entitled to rely in all respects,
prior to written notice to the contrary, upon such registry.



     9. Loss, Theft, Destruction or Mutilation of Warrant. Upon receipt by the Company
of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this
Warrant, and in the case of any such loss, theft or destruction, upon receipt of a bond, indemnity
or security reasonably satisfactory to the Company, or, in the case of any such mutilation, upon
surrender and cancellation of this Warrant, the Company shall make and deliver, in lieu of such
lost, stolen, destroyed or mutilated Warrant, a new Warrant of like tenor and representing the
right to purchase the same aggregate number of Shares as provided for in such lost, stolen,
destroyed or mutilated Warrant.



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     10. Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking
of any action or the expiration of any right required or granted herein shall not be a business
day, then such action may be taken or such right may be exercised on the next succeeding day that
is a business day.



     11. Rule 144 Information. The Company covenants that it will use its reasonable best
efforts to timely file all reports and other documents required to be filed by it under the
Securities Act and the Exchange Act and the rules and regulations promulgated by the SEC thereunder
(or, if the Company is not required to file such reports, it will, upon the request of any
Warrantholder, make publicly available such information as necessary to permit sales pursuant to
Rule 144 under the Securities Act), and it will use reasonable best efforts to take such further
action as any Warrantholder may reasonably request, in each case to the extent required from time
to time to enable such holder to, if permitted by the terms of this Warrant and the Purchase
Agreement, sell this Warrant without registration under the Securities Act within the limitation of
the exemptions provided by (A) Rule 144 under the Securities Act, as such rule may be amended from
time to time, or (B) any successor rule or regulation hereafter adopted by the SEC. Upon the
written request of any Warrantholder, the Company will deliver to such Warrantholder a written
statement that it has complied with such requirements.



     12. Adjustments and Other Rights. For so long as the Original Warrantholder holds this
Warrant or any portion thereof, if any event occurs that, in the good faith judgment of the Board
of Directors of the Company, would require adjustment of the Exercise Price or number of Shares
into which this Warrant is exercisable in order to fairly and adequately protect the purchase
rights of the Warrants in accordance with the essential intent and principles of the Purchase
Agreement and this Warrant, then the Board of Directors shall make such adjustments in the
application of such provisions, in accordance with such essential intent and principles, as shall
be reasonably necessary, in the good faith opinion of the Board of Directors, to protect such
purchase rights as aforesaid.



     Whenever the Exercise Price or the number of Shares into which this Warrant is exercisable
shall be adjusted as provided in this Section 12, the Company shall forthwith file at the
principal office of the Company a statement showing in reasonable detail the facts requiring such
adjustment and the Exercise Price that shall be in effect and the number of Shares into which this
Warrant shall be exercisable after such adjustment, and the Company shall also cause a copy of
such statement to be sent by mail, first class postage prepaid, to each Warrantholder at the
address appearing in the Company’s records.



     13. No Impairment. The Company will not, by amendment of its Charter or through any
reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of
securities or any other voluntary action, avoid or seek to avoid the observance or performance of
any of the terms to be observed or performed hereunder by the Company, but will at all times in
good faith assist in the carrying out of all the provisions of this Warrant and in taking of all
such action as may be necessary or appropriate in order to protect the rights of the
Warrantholder.



     14. Governing Law. This Warrant will be governed by and construed in accordance with
the federal law of the United States if and to the extent such law is applicable, and otherwise in
accordance with the laws of the State of New York applicable to contracts made and



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to be performed entirely within such State. Each of the Company and the Warrantholder agrees (a)
to submit to the exclusive jurisdiction and venue of the United States District Court for the
District of Columbia for any civil action, suit or proceeding arising out of or relating to this
Warrant or the transactions contemplated hereby, and (b) that notice may be served upon the
Company at the address in Section 17 below and upon the Warrantholder at the address for the
Warrantholder set forth in the registry maintained by the Company pursuant to Section 8 hereof.
To the extent permitted by applicable law, each of the Company and the Warrantholder hereby
unconditionally waives trial by jury in any civil legal action or proceeding relating to the
Warrant or the transactions contemplated hereby or thereby.



     15. Binding Effect. This Warrant shall be binding upon any successors or assigns of
the Company.



     16. Amendments. This Warrant may be amended and the observance of any term of this
Warrant may be waived only with the written consent of the Company and the Warrantholder.



     17. Notices. Any notice, request, instruction or other document to be given hereunder
by any party to the other will be in writing and will be deemed to have been duly given (a) on the
date of delivery if delivered personally, or by facsimile, upon confirmation of receipt, or (b) on
the second business day following the date of dispatch if delivered by a recognized next day
courier service. All notices hereunder shall be delivered as set forth in Item 9 of Schedule A
hereto, or pursuant to such other instructions as may be designated in writing by the party to
receive such notice.



     18. Entire Agreement. This Warrant, the forms attached hereto and Schedule A hereto
(the terms of which are incorporated by reference herein), and the Letter Agreement (including
all documents incorporated therein), contain the entire agreement between the parties with
respect to the subject matter hereof and supersede all prior and contemporaneous arrangements or
undertakings with respect thereto.



[Remainder of page intentionally left blank]





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[Form of Notice of Exercise]

Date:                    




TO: Reliance Bancshares, Inc.




RE: Election to Purchase Preferred Stock




     The undersigned, pursuant to the provisions set forth in the attached Warrant, hereby agrees
to subscribe for and purchase such number of shares of Preferred Stock covered by the Warrant such
that after giving effect to an exercise pursuant to Section 3(B) of the Warrant, the undersigned
will receive the net number of shares of Preferred Stock set forth below. The undersigned, in
accordance with Section 3 of the Warrant, hereby agrees to pay the aggregate Exercise Price for
such shares of Preferred Stock in the manner set forth in Section 3(B) of the Warrant.


Number of Shares of Preferred Stock: 2,000




     The undersigned agrees that it is exercising the attached Warrant in full and that, upon
receipt by the undersigned of the number of shares of Preferred Stock set forth above, such Warrant
shall be deemed to be cancelled and surrendered to the Company.



	 	 	 	 	 	 	 
	 

	 	Holder:
	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 








 




			
	1.	 	Number of shares to be received by the undersigned upon exercise of the attached
Warrant pursuant to
Section 3(B) thereof.




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     IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by a duly
authorized officer.



Dated: February 13, 2009




	 	 	 	 	 
	 	COMPANY: RELIANCE BANCSHARES INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Jerry S. Von Rohr 	 
	 	 	Title:  	President 	 
	 



	 	 	 	 	 
	 	Attest:

 	 
	 	By:  	 	 
	 	 	Name:  	Fortis M. Lawder 	 
	 	 	Title:  	Secretary 	 
	 



[Signature Page to Warrant]




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SCHEDULE A

Item 1 

Name: Reliance Bancshares, Inc.

Corporate or other organizational form: Corporation

Jurisdiction of organization: Missouri



Item 2 

Exercise Price: $0.01 per share



Item 3 

Issue Date: February 13, 2009



Item 4 

Liquidation Amount: $1,000.00 per share



Item 5 

Series of Perpetual Preferred Stock: Fixed Rate Cumulative Perpetual Preferred Stock, Series B



Item 6 

Date of Letter Agreement between the Company and the United States Department of the Treasury:



Item 7 

Number of shares of Preferred Stock: 2,000




	 	 	 	 	 
	Item 8
	 	 	 	 
	Company’s address:	 	10401 Clayton Road
	 	 	Frontenac (St. Louis), Missouri 63131
	 
	 	 	 	 
	Item 9 
	 	 	 	 
	Notice information:	 	Reliance Bancshares, Inc.
	 	 	10401 Clayton Road
	 	 	Frontenac (St. Louis), Missouri 63131
	 

	 	Attention:
	 	Jerry S. Von Rohr
	 

	 	 	 	President
	 

	 	Telephone:
	 	(314) 569-7201
	 

	 	Facsimile:
	 	(314) 569-7301








 




			
	2	 	$0.01 per share or such greater amount as the Charter may require as the par value of the Preferred Stock.
	 
	3	 	The initial number of shares of Preferred Stock for which this Warrant is exercisable shall include the
number of shares required to effect the cashless exercise pursuant to Section 3(B) of
this Warrant (e.g., such number of shares of Preferred Stock having an aggregate
Liquidation Amount equal in value to the aggregate Exercise Price) such that, following
exercise of this Warrant and payment of the Exercise Price in accordance with such Section 3(B), the net number of shares of Preferred Stock
delivered to the Warrantholder (and rounded to the nearest whole share) would have an
aggregate Liquidation Amount equal to 5% of the aggregate amount invested by the
United States Department of the Treasury on the investment date.






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