# EDGAR Filing Document

**Accession Number:** 0001227500
**File Stem:** 0001193125-25-156606
**Filing Date:** 2025-7
**Character Count:** 76717
**Document Hash:** 64532bfe0da542abb2afb7932a58c8ee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-156606.hdr.sgml**: 20250708

**ACCESSION NUMBER**: 0001193125-25-156606

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250702

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250708

**DATE AS OF CHANGE**: 20250708

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EQUITY BANCSHARES INC
- **CENTRAL INDEX KEY:** 0001227500
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** KS
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37624
- **FILM NUMBER:** 251111207

**BUSINESS ADDRESS:**
- **STREET 1:** 7701 E. KELLOGG DRIVE, SUITE 300
- **CITY:** WICHITA
- **STATE:** KS
- **ZIP:** 67207
- **BUSINESS PHONE:** 316-612-6000

**MAIL ADDRESS:**
- **STREET 1:** 7701 E. KELLOGG DRIVE, SUITE 300
- **CITY:** WICHITA
- **STATE:** KS
- **ZIP:** 67207

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of The Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): July 2, 2025

## EQUITY BANCSHARES, INC.

#### (Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Kansas** | **001-37624** | **72-1532188** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(Commission**<br> **File Number)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **7701 East Kellogg Drive, Suite 300**<br> **Wichita, KS** | **67207** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

#### Registrant's telephone number, including area code: 316. 612.6000

#### Former name or former address, if changed since last report: Not Applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol** | **Name of each exchange<br>on which registered** |
| Class A, Common Stock, par value $0.01 per share | EQBK | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

------

---

| | |
|:---|:---|
| **Item 1.01** | **Entry Into a Material Definitive Agreement**  |

---

In connection with the completion of Equity Bancshares, Inc.'s (the "<u>Company</u>") previously reported merger (the "<u>Merger</u>") with NBC Corp. of Oklahoma ("<u>NBC</u>"), pursuant to the Agreement and Plan of Reorganization, dated April 2, 2025 (the "<u>Agreement</u>"), by and among the Company, Red River Merger Sub, Inc., and NBC, the Company entered into a Registration Rights Agreement (the "<u>Registration Rights Agreement</u>") between the Company and each of the former shareholders of NBC. Under the Registration Rights Agreement, the Company agreed to use commercially reasonable efforts to file a registration statement with the Securities and Exchange Commission (the "SEC") covering the sale or distribution by such shareholders, on a delayed or continuous basis pursuant to Rule 415 of the Securities Act of 1933 (the "<u>Securities Act</u>") of the shares issued as merger consideration to such shareholders, and to use commercially reasonable efforts to cause such registration statement to be declared effective by the SEC as promptly as is reasonably practicable after the filing thereof.

The foregoing description of the Agreement and the Registration Rights Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement and the Registration Rights Agreement in the forms filed as Exhibit 2.1 and Exhibit 10.1, respectively, which are incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 3.02** | **Unregistered Sales of Equity Securities**  |

---

Pursuant to the terms of the Agreement, the Company issued 1,729,783 shares of its Class A common stock to the former shareholders of NBC in reliance upon the exemption from the registration requirements of the Securities Act provided by Section 4(a)(2) of the Securities Act and the rules promulgated thereunder.

---

| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.**  |

---

In connection with the closing of the Merger, C. Kendric Fergeson, the former Chairman and Chief Executive Officer of NBC, was appointed to the board of directors of the Company and the board of directors of Equity Bank effective July 3, 2025, in accordance with the terms of the Agreement.

Mr. Fergeson will participate in the Company's standard compensation arrangements for non-employee directors as described in the Company's definitive proxy statement relating to its 2025 Annual Meeting of Stockholders filed with the SEC on March 13, 2025. Mr. Fergeson will join the Company's Risk Committee. Other than pursuant to the Agreement, there is no other arrangements or understandings between Mr. Fergeson and any other person pursuant to which he was selected as a director of the Company. Since the beginning of the last fiscal year, there have been no related party transactions between the Company and Mr. Fergeson that would be reportable under Item 404(a) of Regulation S-K.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.**  |

---

(d) Exhibits

---

| | |
|:---|:---|
| Exhibit No. | Description |
| 2.1 | [Agreement and Plan of Reorganization, dated April 2, 2025, by and among Equity Bancshares, Inc., Red River Merger Sub, Inc., and NBC Corp. of Oklahoma (incorporated by reference to Exhibit 2.1 to the Company's Current Report on Form 8-K filed with the SEC on April 3, 2025).\*](http://www.sec.gov/Archives/edgar/data/1227500/000119312525071450/d943138dex21.htm) |
| 10.1 | [Registration Rights Agreement, dated July 2, 2025, by and among Equity Bancshares, Inc., and each of the shareholders of NBC Corp. of Oklahoma.](d812354dex101.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

\* Certain schedules and exhibits to this agreement have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The Company agrees to furnish supplementally to the SEC a copy of any omitted schedule or exhibit upon request.

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  |  | **EQUITY BANCSHARES, INC.** |
| DATE: July 8, 2025 | By: | /s/ Brad S. Elliott |
|  |  | Brad S. Elliott |
|  |  | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1** 

**REGISTRATION RIGHTS AGREEMENT** 

by and among

**EQUITY BANCSHARES, INC.,** 

and

**EACH OF THE HOLDERS LISTED ON THE SIGNATURE PAGES HERETO** 

Dated as of July 2, 2025

------

**TABLE OF CONTENTS** 

---

| | | |
|:---|:---|:---|
|  |  | **Page** |
| ARTICLE I RESALE SHELF REGISTRATION | ARTICLE I RESALE SHELF REGISTRATION | 1 |
| Section 1.1 | Resale Shelf Registration Statement | 1 |
| Section 1.2 | Effectiveness Period | 1 |
| Section 1.3 | Subsequent Shelf Registration Statement | 2 |
| Section 1.4 | Supplements and Amendments | 2 |
| Section 1.5 | Underwritten Offering | 2 |
| Section 1.6 | Take-Down Notice | 3 |
| ARTICLE II ADDITIONAL PROVISIONS REGARDING REGISTRATION RIGHTS | ARTICLE II ADDITIONAL PROVISIONS REGARDING REGISTRATION RIGHTS | 3 |
| Section 2.1 | Registration Procedures | 3 |
| Section 2.2 | Suspension | 6 |
| Section 2.3 | Expenses of Registration | 6 |
| Section 2.4 | Information by Holders | 6 |
| Section 2.5 | Rule 144 Reporting | 7 |
| ARTICLE III INDEMNIFICATION | ARTICLE III INDEMNIFICATION | 8 |
| Section 3.1 | Indemnification by Company | 8 |
| Section 3.2 | Indemnification by Holders | 9 |
| Section 3.3 | Notification | 9 |
| Section 3.4 | Contribution | 10 |
| ARTICLE IV MISCELLANEOUS | ARTICLE IV MISCELLANEOUS | 11 |
| Section 4.1 | Termination of Registration Rights | 11 |
| Section 4.2 | Successors and Assigns | 11 |
| Section 4.3 | Notices | 11 |
| Section 4.4 | Governing Law | 11 |
| Section 4.5 | Submission to Jurisdiction; Venue; Waiver of Trial by Jury | 11 |
| Section 4.6 | Equitable Relief | 12 |
| Section 4.7 | Severability | 12 |
| Section 4.8 | Entire Agreement | 12 |
| Section 4.9 | No Third Party Beneficiaries | 12 |
| Section 4.10 | Headings; Interpretation | 13 |
| Section 4.11 | Expenses | 13 |
| Section 4.12 | Amendments and Waivers | 13 |
| Section 4.13 | Counterparts | 13 |

---

i

------

**<u>REGISTRATION RIGHTS AGREEMENT</u>**

This REGISTRATION RIGHTS AGREEMENT (this "<u>Agreement</u>") is entered into as of July 2, 2025, by and among EQUITY BANCSHARES, INC., a Kansas corporation (the "<u>Company</u>"), and each of the shareholders ("<u>Holders</u>") of NBC CORP. OF OKLAHOMA ("<u>NBC</u>"), an Oklahoma corporation and a registered bank holding company under the Bank Holding Company Act of 1956, as amended (the "<u>BHCA</u>"). Capitalized terms used but not defined elsewhere herein are defined in <u>Exhibit A</u>.

WHEREAS, the Company, Red River Merger Sub, Inc. ("<u>Merger Sub</u>"), an Oklahoma corporation and wholly-owned subsidiary of the Company and NBC are parties to that certain Reorganization and Plan of Reorganization Agreement, dated as of April 2, 2025 (the "<u>Reorganization Agreement</u>"), pursuant to which Merger Sub will be merged with and into NBC (the "<u>Merger</u>") with NBC surviving as a wholly owned subsidiary of the Company, and the shares of NBC common stock, par value $0.10 per share, will be converted into and exchanged form the Merger Consideration pursuant to the Reorganization Agreement, including shares of the Company's Class A Common Stock, par value $0.01 per share ("<u>Common Stock</u>"), in reliance on one or more exemptions from registration under the Securities Act and other requirements thereunder.

WHEREAS, as a condition to the obligations of the Company, Merger sub and NBC under the Reorganization Agreement, the Company and the Holders are entering into this Agreement for the purpose of granting certain registration and other rights to the Holders:

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this Agreement, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows:

**ARTICLE I** 

**Resale Shelf Registration** 

Section 1.1 <u>Resale Shelf Registration Statement</u>. Subject to the other applicable provisions of this Agreement, the Company shall use its commercially reasonable efforts to prepare and file within one (1) Business Day after the date on which the Effective Time (as defined in the Reorganization Agreement) occurs a registration statement covering the sale or distribution from time to time by the Holders, on a delayed or continuous basis pursuant to Rule 415 of the Securities Act, of all of the Registrable Securities on Form S-3 (except if the Company is not then eligible to register for resale the Registrable Securities on Form S-3, then such registration shall be on another appropriate form and shall provide for the registration of such Registrable Securities for resale by the Holders in accordance with any reasonable method of distribution elected by the Holders) (the "<u>Resale Shelf Registration Statement</u>") and shall use its commercially reasonable efforts to cause such Resale Shelf Registration Statement to be declared effective by the SEC as promptly as is reasonably practicable after the filing thereof.

Section 1.2 <u>Effectiveness Period</u>. Once declared effective, the Company shall, subject to the other applicable provisions of this Agreement, use its commercially reasonable efforts to cause the Resale Shelf Registration Statement to be continuously effective and usable until such time as there are no longer any Registrable Securities (the "<u>Effectiveness Period</u>").

------

Section 1.3 <u>Subsequent Shelf Registration Statement</u>. If any Shelf Registration Statement ceases to be effective under the Securities Act for any reason at any time during the Effectiveness Period, the Company shall use its commercially reasonable efforts to as promptly as is reasonably practicable cause such Shelf Registration Statement to again become effective under the Securities Act (including obtaining the prompt withdrawal of any order suspending the effectiveness of such Shelf Registration Statement), and shall use its commercially reasonable efforts to as promptly as is reasonably practicable amend such Shelf Registration Statement in a manner reasonably expected to result in the withdrawal of any order suspending the effectiveness of such Shelf Registration Statement or file an additional registration statement (a "<u>Subsequent Shelf Registration Statement</u>") for an offering to be made on a delayed or continuous basis pursuant to Rule 415 of the Securities Act registering the resale from time to time by the Holders thereof of all securities that are Registrable Securities as of the time of such filing. If a Subsequent Shelf Registration Statement is filed, the Company shall use its commercially reasonable efforts to (a) cause such Subsequent Shelf Registration Statement to become effective under the Securities Act as promptly as is reasonably practicable after the filing thereof, and (b) keep such Subsequent Shelf Registration Statement continuously effective and usable until the end of the Effectiveness Period. Any such Subsequent Shelf Registration Statement shall be a registration statement on Form S-3 to the extent that the Company is eligible to use such form. Otherwise, such Subsequent Shelf Registration Statement shall be on another appropriate form and shall provide for the registration of such Registrable Securities for resale by the Holders in accordance with any reasonable method of distribution elected by the Holders.

Section 1.4 <u>Supplements and Amendments</u>. The Company shall supplement and amend any Shelf Registration Statement if required by the Securities Act or the rules, regulations, or instructions applicable to the registration form used by the Company for such Shelf Registration Statement.

Section 1.5 <u>Underwritten Offering</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to any applicable restrictions on transfer in the Securities Purchase Agreement or otherwise, the Holders may, after the Resale Shelf Registration Statement becomes effective, deliver a written notice to the Company (the "<u>Underwritten Offering Notice</u>") specifying that the sale of some or all of the Registrable Securities subject to the Shelf Registration Statement, is intended to be conducted through an underwritten offering (the "<u>Underwritten Offering</u>"); <u>provided</u>, <u>however</u>, that the Holders may not, without the Company's prior written consent, (i) launch an Underwritten Offering the anticipated gross proceeds of which shall be less than $7,500,000 (unless the Holders are proposing to sell all of their remaining Registrable Securities), (ii) launch more than one (1) Underwritten Offering at the request of the Holders within any three-hundred sixty-five (365) day-period or (iii) launch an Underwritten Offering during any of the Company's regular quarterly blackout periods applicable to directors and officers under the Company's policies in existence from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event of an Underwritten Offering, the Holders of a majority of the Registrable Securities shall select the managing underwriter(s) to administer the Underwritten Offering; <u>provided</u> that the choice of such managing underwriter(s) shall be reasonably acceptable to the Company. The Company and the Holders participating in an Underwritten Offering will enter into an underwriting agreement in customary form with the managing underwriter or underwriters selected for such offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the managing underwriter or underwriters advise the Company and the Holders in writing that in its or their good faith opinion the number of Registrable Securities (and, if permitted hereunder, other securities requested to be included in such offering) exceeds the number of securities which can be sold in such offering in light of market conditions or is such so as to adversely affect the success of such offering, the Company will include in such Underwritten Offering only such number of securities that can be sold without adversely affecting the marketability of the offering, which securities will be so included in the following order of priority: (i) first, the Registrable Securities of the Holders that have requested to participate in such Underwritten Offering, allocated *pro rata* among such on the basis of the percentage of the Registrable Securities requested to be included in such offering by such Holders, and (ii) second, any other securities of the Company that have been requested to be so included.

------

Section 1.6 <u>Take-Down Notice</u>. Subject to the other applicable provisions of this Agreement, at any time that any Shelf Registration Statement is effective, if the Holders deliver a notice to the Company (a "<u>Take-Down Notice</u>") stating that it intends to effect a sale or distribution of all or part of its Registrable Securities included by it on any Shelf Registration Statement (a "<u>Shelf Offering</u>") and stating the number of the Registrable Securities to be included in such Shelf Offering, then the Company shall amend, subject to the other applicable provisions of this Agreement or supplement the Shelf Registration Statement as may be necessary in order to enable such Registrable Securities to be sold and distributed pursuant to the Shelf Offering.

**ARTICLE II** 

**Additional Provisions Regarding Registration Rights** 

Section 2.1 <u>Registration Procedures</u>. Subject to the other applicable provisions of this Agreement, in the case of each registration of Registrable Securities effected by the Company pursuant to <u>Article I</u>, the Company will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) prepare and promptly file with the SEC a registration statement with respect to such securities and use commercially reasonable efforts to cause such registration statement to become and remain effective for the period of the distribution contemplated thereby, in accordance with the applicable provisions of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) prepare and file with the SEC such amendments (including post-effective amendments) and supplements to such registration statement and the prospectus used in connection with such registration statement as may be necessary to keep such registration statement effective for the period specified in paragraph (a) above and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement in accordance with the Holders' indented method of distribution set forth in such registration statement for such period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) furnish to one legal counsel selected by the Holders copies of the registration statement and the prospectus included therein (including each preliminary prospectus) proposed to be filed and provide such legal counsel a reasonable opportunity to review and comment on such registration statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if requested by the managing underwriter or underwriters, if any, or the Holders, promptly include in any prospectus supplement or post-effective amendment such information as the managing underwriter or underwriters, if any, or the Holders may reasonably request in order to permit the intended method of distribution of such securities and make all required filings of such prospectus supplement or post-effective amendment as soon as reasonably practicable after the Company has received such request; <u>provided</u>, <u>however</u>, that the Company shall not be required to take any actions under this <u>Section 2.1(d)</u> that are not, in the opinion of counsel for the Company, in compliance with applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) in the event that the Registrable Securities are being offered in an Underwritten Offering, furnish to the Holders and to the underwriters of the securities being registered such reasonable number of copies of the registration statement, preliminary prospectus and final prospectus as the Holders or such underwriters may reasonably request in order to facilitate the public offering or other disposition of such securities;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) as promptly as reasonably practicable notify the Holders at any time when a prospectus relating thereto is required to be delivered under the Securities Act or of the Company's discovery of the occurrence of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading or incomplete in the light of the circumstances then existing, and, subject to <u>Section 2.2</u>, at the request of the Holders, prepare as promptly as is reasonably practicable and furnish to the Holders a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading or incomplete in the light of the circumstances then existing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) use commercially reasonable efforts to register and qualify (or exempt from such registration or qualification) the securities covered by such registration statement under such other securities or "blue sky" laws of such jurisdictions within the United States as shall be reasonably requested in writing by the Holders; <u>provided</u>, <u>however</u>, that the Company shall not be required in connection therewith or as a condition thereto to (i) qualify to do business in any jurisdictions where it would not otherwise be required to qualify but for this subsection or (ii) take any action that would subject it to general service of process in any such jurisdictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) in the event that the Registrable Securities are being offered in an underwritten public offering, enter into an underwriting agreement in accordance with the applicable provisions of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) in connection with an Underwritten Offering, the Company shall cause its officers to use their commercially reasonable efforts to support the marketing of the Registrable Securities covered by such offering (including participation in "*road shows*" or other similar marketing efforts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) use commercially reasonable efforts to furnish, on the date that such Registrable Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters, (i) an opinion dated such date of the legal counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, (ii) a "negative assurances letter", dated such date of the legal counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, and (iii) a letter dated such date from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) use commercially reasonable efforts to list the Registrable Securities covered by such registration statement with any securities exchange on which the Common Stock is then listed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) provide a transfer agent and registrar for all such Registrable Securities not later than the effective date of such registration statement;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) in connection with a customary due diligence review, make available for inspection by the Holders, any underwriter participating in any such disposition of Registrable Securities, if any, and any counsel or accountants retained by the Holders or underwriter (collectively, the "<u>Offering Persons</u>"), at the offices where normally kept, during reasonable business hours, all financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries, and cause the officers, directors and employees of the Company and its subsidiaries to supply all information and participate in customary due diligence sessions in each case reasonably requested by any such representative, underwriter, counsel or accountant in connection with such Registration Statement; <u>provided</u>, <u>however</u>, that any information that is not generally publicly available at the time of delivery of such information shall be kept confidential by such Offering Persons unless (i) disclosure of such information is required by court or administrative order or in connection with an audit or examination by, or a blanket document request from, a regulatory or self-regulatory authority, bank examiner or auditor, (ii) disclosure of such information, in the opinion of the counsel of the Offering Persons, is required by law or applicable legal process (including in connection with the offer and sale of securities pursuant to the rules and regulations of the SEC), (iii) such information is or becomes generally available to the public other than as a result of a non-permitted disclosure or failure to safeguard by such Offering Persons in violation of this Agreement or (iv) such information (A) was known to such Offering Persons (prior to its disclosure by the Company) from a source other than the Company when such source was not bound by any contractual, legal or fiduciary obligation of confidentiality to the Company with respect to such information, (B) becomes available to the Offering Persons from a source other than the Company when such source is not bound by any contractual, legal or fiduciary obligation of confidentiality to the Company with respect to such information or (C) was developed independently by the Offering Persons or their respective representatives without the use of, or reliance on, information provided by the Company. In the case of a proposed disclosure pursuant to (i) or (ii) above, such Person shall be required to give the Company written notice of the proposed disclosure prior to such disclosure (except in the case of (ii) above when a proposed disclosure was or is to be made in connection with a registration statement or prospectus under this Agreement and except in the case of clause (i) above when a proposed disclosure is in connection with a routine audit or examination by, or a blanket document request from, a regulatory or self-regulatory authority, bank examiner or auditor);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) cooperate with the Holders and each underwriter or agent participating in the disposition of Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) as promptly as is reasonably practicable notify the Holders (i) when the prospectus or any prospectus supplement or post-effective amendment has been filed and, with respect to such registration statement or any post-effective amendment, when the same has become effective, (ii) of any request by the SEC or other federal or state governmental authority for amendments or supplements to such registration statement or related prospectus or to amend or to supplement such prospectus or for additional information, (iii) of the issuance by the SEC of any stop order suspending the effectiveness of such registration statement or the initiation of any proceedings for such purpose, (iv) if at any time the Company has reason to believe that the representations and warranties of the Company contained in any agreement contemplated by <u>Section</u> <u>2.1(f)</u> above relating to any applicable offering cease to be true and correct or (v) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose.

------

The Holders agree that, upon receipt of any notice from the Company of the happening of any event of the kind described in <u>Section 2.1(f)</u>, <u>2.1(o)(ii)</u> or <u>2.1(o)(iii)</u>, the Holders shall discontinue, and shall cause each Holder to discontinue, disposition of any Registrable Securities covered by such registration statement or the related prospectus until receipt of the copies of the supplemented or amended prospectus, which supplement or amendment shall, subject to the other applicable provisions of this Agreement, be prepared and furnished as soon as reasonably practicable, or until the Holders are advised in writing by the Company that the use of the applicable prospectus may be resumed, and have received copies of any amended or supplemented prospectus or any additional or supplemental filings which are incorporated, or deemed to be incorporated, by reference in such prospectus (such period during which disposition is discontinued being an "<u>Interruption Period</u>") and, if requested by the Company, the Holders shall use commercially reasonable efforts to return, and cause the Holders to return, to the Company all copies then in their possession, of the prospectus covering such Registrable Securities at the time of receipt of such request. As soon as practicable after the Company has determined that the use of the applicable prospectus may be resumed, the Company will notify the Holders thereof. In the event the Company invokes an Interruption Period hereunder and in the reasonable discretion of the Company the need for the Company to continue the Interruption Period ceases for any reason, the Company shall, as soon as reasonably practicable, provide written notice to the Holders that such Interruption Period is no longer applicable.

Section 2.2 <u>Suspension</u>. (a) The Company shall be entitled, on one (1) occasion in any one-hundred eighty (180) day period, for a period of time not to exceed ninety (90) days in the aggregate in any twelve (12) month period, to (x) defer any registration of Registrable Securities and shall have the right not to file and not to cause the effectiveness of any registration covering any Registrable Securities; provided, however, that the Company may not defer filing of the Resale Shelf Registration Statement, (y) suspend the use of any prospectus and registration statement covering any Registrable Securities and (z) require the Holders to suspend any offerings or sales of Registrable Securities pursuant to a registration statement, if the Company delivers to the Holders a certificate signed by an executive officer certifying that such registration and offering would (i) require the Company to make an Adverse Disclosure or (ii) materially interfere with any *bona fide* material financing, acquisition, disposition, corporate event or other similar transaction involving the Company or any of its subsidiaries then under consideration. Such certificate shall contain a statement of the reasons for such suspension and an approximation of the anticipated length of such suspension. The Holders shall keep the information contained in such certificate confidential subject to the same terms set forth in <u>Section 2.1(m)</u>. If the Company defers any registration of Registrable Securities in response to a Underwritten Offering Notice or requires the Holders or the Holders to suspend any Underwritten Offering, the Holders shall be entitled to withdraw such Underwritten Offering Notice and if they do so, such request shall not be treated for any purpose as the delivery of an Underwritten Offering Notice pursuant to <u>Section 1.5</u>.

Section 2.3 <u>Expenses of Registration</u>. All Registration Expenses incurred in connection with any registration pursuant to <u>Article I</u> shall be borne by the Company. All Selling Expenses relating to securities registered on behalf of the Holders shall be borne by the Holders included in such registration.

Section 2.4 <u>Information by Holders</u>. Each Holder of Registrable Securities included in any registration shall furnish to the Company such information regarding such Holder and their Affiliates, the Registrable Securities held by them and the distribution proposed by such Holder and their Affiliates as the Company or its representatives may reasonably request and as shall be required in connection with any registration, qualification or compliance referred to in this Agreement. It is understood and agreed that the obligations of the Company under <u>Article I</u> are conditioned on the timely provisions of the foregoing information by such Holder and, without limitation of the foregoing, will be conditioned on compliance by such Holder with the following:

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) such Holder will, and will cause their respective Affiliates to, cooperate with the Company in connection with the preparation of the applicable registration statement and prospectus and, for so long as the Company is obligated to keep such registration statement effective, such Holder will and will cause their respective Affiliates to, provide to the Company, in writing and in a timely manner, for use in such registration statement (and expressly identified in writing as such), all information regarding themselves and their respective Affiliates and such other information as may be required by applicable law to enable the Company to prepare or amend such registration statement, any related prospectus and any other documents related to such offering covering the applicable Registrable Securities owned by such Purchaser and to maintain the currency and effectiveness thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) during such time as such Holder and their respective Affiliates may be engaged in a distribution of the Registrable Securities, such Holder will, and they will cause their Affiliates to, comply with all laws applicable to such distribution, including Regulation M promulgated under the Exchange Act, and, to the extent required by such laws, will, and will cause their Affiliates to, among other things (i) not engage in any stabilization activity in connection with the securities of the Company in contravention of such laws; (ii) distribute the Registrable Securities acquired by them solely in the manner described in the applicable registration statement and (iii) if required by applicable law, cause to be furnished to each agent or broker-dealer to or through whom such Registrable Securities may be offered, or to the offeree if an offer is made directly by such Holder or their respective Affiliates, such copies of the applicable prospectus (as amended and supplemented to such date) and documents incorporated by reference therein as may be required by such agent, broker-dealer or offeree;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) such Holder shall, and they shall cause their respective Affiliates to, (i) permit the Company and its representatives to examine such documents and records and will supply in a timely manner any information as they may be reasonably requested to provide in connection with the offering or other distribution of Registrable Securities by such Holder and (ii) execute, deliver and perform under any agreements and instruments reasonably requested by the Company or its representatives to effectuate such registered offering, including opinions of counsel and questionnaires; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) on receipt of any notice from the Company of the occurrence of any of the events specified in <u>Section 2.1(f)</u> or clauses (ii) or (iii) of <u>Section 2.1(o)</u>, or that otherwise requires the suspension by such Holder and their respective Affiliates of the offering, sale or distribution of any of the Registrable Securities owned by such Holder, such Holders shall, and they shall cause their respective Affiliates to, cease offering, selling or distributing the Registrable Securities owned by such Holder until the offering. sale and distribution of the Registrable Securities owned by such Holder may recommence in accordance with the terms hereof and applicable law.

Section 2.5 <u>Rule 144 Reporting</u>. With a view to making available the benefits of Rule 144 to the Holders, the Company agrees that, for so long as a Holder owns Registrable Securities, the Company will use its commercially reasonable efforts to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) make and keep public information available, as those terms are understood and defined in Rule 144, at all times after the date of this Agreement; and

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) so long as a Holder owns any Restricted Securities, furnish to the Holder upon written request a written statement by the Company as to its compliance with the reporting requirements of the Exchange Act.

Section 2.6 <u>Lock-Up Agreement</u>*.* Each Holder that beneficially owns (as determined pursuant to Rule 13d-3 under the Exchange Act), together with their Affiliates, five percent (5%) or more of Common Stock agrees that in connection with any future offering of Common Stock, and upon request of the managing underwriter of such offering, such Holder shall not, without the prior written consent of such managing underwriter, during the period commencing on the effective date of such registration and ending on the date specified by such managing underwriter, which shall in no event be longer than 180 days, (a) offer, pledge, sell, contract to sell, grant any option or contract to purchase, purchase any option or contract to sell, hedge the beneficial ownership of or otherwise dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into, exercisable for or exchangeable for shares of Common Stock, or (b) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (a) or (b) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The foregoing provisions of this <u>Section</u> <u>2.6</u> shall not apply to sales of Common Stock to be included in such offering pursuant to <u>Article I</u> and shall be applicable to the Holders only if the executive officers and directors of the Company are subject to the same restrictions. Each Holder agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the managing underwriter which are consistent with the foregoing, or which are necessary to give further effect thereto. Notwithstanding anything to the contrary contained in this <u>Section</u> <u>2.6</u>, each Holder shall be released, pro rata, from any lock-up agreement entered into pursuant to this <u>Section</u> <u>8</u> in the event and to the extent that the managing underwriter or the Company permit any discretionary waiver or termination of the restrictions of any lock-up agreement pertaining to any executive officer or director of the Company.

**ARTICLE III** 

**Indemnification** 

Section 3.1 <u>Indemnification by Company</u>. To the extent permitted by applicable law, the Company will, with respect to any Registrable Securities covered by a registration statement or prospectus, or as to which registration, qualification or compliance under applicable "blue sky" laws has been effected pursuant to this Agreement, indemnify and hold harmless each Holder, each Holder's current and former officers, directors, partners, members, managers, shareholders, accountants, attorneys, agents and employees, and each Person controlling such Holder within the meaning of Section 15 of the Securities Act and such Holder's current and former officers, directors, partners, members, managers, shareholders, accountants, attorneys, agents and employees, and each underwriter thereof, if any, and each Person who controls any such underwriter within the meaning of Section 15 of the Securities Act (collectively, the "<u>Company Indemnified Parties</u>"), from and against any and all expenses, claims, losses, damages, costs (including costs of preparation and reasonable attorney's fees and any legal or other fees or expenses actually incurred by such party in connection with any investigation or proceeding), judgments, fines, penalties, charges, amounts paid in settlement and other liabilities, joint or several, (or actions in respect thereof) (collectively, "<u>Losses</u>") to the extent arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any registration statement, prospectus, preliminary prospectus, offering circular, "issuer free writing prospectus" (as such term is defined in Rule 433 under the Securities Act) or other document, in each case related to such registration statement, or any amendment or supplement thereto, or based on any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, or any violation by the Company of the Securities Act, the Exchange

------

Act, any state securities law or any rules or regulations thereunder applicable to the Company and (without limiting the preceding portions of this <u>Section</u> <u>3.1</u>), the Company will promptly reimburse each of the Company Indemnified Parties for any reasonable and documented out-of-pocket legal expenses and any other reasonable and documented out-of-pocket expenses actually incurred in connection with investigating, defending or, subject to the last sentence of this <u>Section</u> <u>3.1</u>, settling any such Losses or action, as such expenses are incurred; <u>provided</u> that the Company's indemnification obligations shall not apply to amounts paid in settlement of any Losses or action if such settlement is effected without the prior written consent of the Company (which consent shall not be unreasonably withheld or delayed), nor shall the Company be liable to a Holder in any such case for any such Losses or action to the extent that it arises out of or is based upon a violation or alleged violation of any state or federal law (including any claim arising out of or based on any untrue statement or alleged untrue statement or omission or alleged omission in the registration statement or prospectus) which occurs in reliance upon and in conformity with written information regarding such Holder furnished to the Company by such Holder or its authorized representatives expressly for use in connection with such registration by or on behalf of any Holder.

Section 3.2 <u>Indemnification by Holders</u>. To the extent permitted by applicable law, each Holder will, if Registrable Securities held by such Holder are included in the securities as to which registration or qualification or compliance under applicable "blue sky" laws is being effected, indemnify, severally and not jointly with any other Holders, the Company, each of its representatives, each Person who controls the Company or such underwriter within the meaning of Section 15 of the Securities Act (collectively, the "<u>Holder Indemnified Parties</u>"), against all Losses (or actions in respect thereof) to the extent arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any registration statement, prospectus, preliminary prospectus, offering circular, "issuer free writing prospectus" or other document, in each case related to such registration statement, or any amendment or supplement thereto, or based on any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, and will reimburse each of the Holder Indemnified Parties for any reasonable and documented out-of-pocket legal expenses and any other reasonable and documented out-of-pocket expenses actually incurred in connection with investigating, defending or, subject to the last sentence of this <u>Section 3.2</u>, settling any such Losses or action, as such expenses are incurred, in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such registration statement, prospectus, offering circular, "issuer free writing prospectus" or other document in reliance upon and in conformity with written information regarding such Holder furnished to the Company by such Holder or its authorized representatives and stated to be specifically for use therein; <u>provided</u>*,* <u>however</u>, that in no event shall any indemnity under this <u>Section 3.2</u> payable by any Holder exceed an amount equal to the net proceeds received by such Holder in respect of the Registrable Securities sold pursuant to the registration statement. The indemnity agreement contained in this <u>Section 3.2</u> shall not apply to amounts paid in settlement of any loss, claim, damage, liability, or action if such settlement is effected without the prior written consent of the applicable Holder (which consent shall not be unreasonably withheld or delayed).

Section 3.3 <u>Notification</u>. If any Person shall be entitled to indemnification under this <u>Article III</u> (each, an "<u>Indemnified Party</u>"), such Indemnified Party shall give prompt notice to the party required to provide indemnification (each, an "<u>Indemnifying Party</u>") of any claim or of the commencement of any proceeding as to which indemnity is sought. The Indemnifying Party shall have the right, exercisable by giving written notice to the Indemnified Party as promptly as reasonably practicable after the receipt of written notice from such Indemnified Party of such claim or proceeding, to assume, at the Indemnifying Party's expense, the defense of any such claim or litigation, with counsel reasonably satisfactory to the Indemnified Party and, after notice from the Indemnifying Party to such Indemnified Party of its election to assume the defense thereof, the Indemnifying Party will not (so long as it shall continue to have the right to defend, contest, litigate and settle the matter in question in accordance with this paragraph) be liable to

------

such Indemnified Party hereunder for any legal expenses and other expenses subsequently incurred by such Indemnified Party in connection with the defense thereof; <u>provided</u>, <u>however</u>, that an Indemnified Party shall have the right to employ separate counsel in any such claim or litigation, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless the Indemnifying Party shall have failed within a reasonable period of time to assume such defense and the Indemnified Party is or would reasonably be expected to be materially prejudiced by such delay. The failure of any Indemnified Party to give notice as provided herein shall relieve an Indemnifying Party of its obligations under this <u>Article III</u> only to the extent that the failure to give such notice is materially prejudicial or harmful to such Indemnifying Party's ability to defend such action. No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the prior written consent of each Indemnified Party (which consent shall not be unreasonably withheld or delayed), consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation. The indemnity agreements contained in this <u>Article III</u> shall not apply to amounts paid in settlement of any claim, loss, damage, liability, or action if such settlement is effected without the prior written consent of the Indemnifying Party, which consent shall not be unreasonably withheld or delayed. The indemnification set forth in this <u>Article</u> <u>III</u> shall be in addition to any other indemnification rights or agreements that an Indemnified Party may have. An Indemnifying Party who is not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such Indemnifying Party with respect to such claim, unless in the reasonable judgment of any Indemnified Party a conflict of interest may exist between such Indemnified Party and any other Indemnified Parties with respect to such claim.

Section 3.4 <u>Contribution</u>. If the indemnification provided for in this <u>Article III</u> is held by a court of competent jurisdiction to be unavailable to an Indemnified Party, other than pursuant to its terms, with respect to any Losses or action referred to therein, then, subject to the limitations contained in this <u>Article III</u>, the Indemnifying Party, in lieu of indemnifying such Indemnified Party hereunder, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Losses or action in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party, on the one hand, and the Indemnified Party, on the other, in connection with the actions, statements or omissions that resulted in such Losses or action, as well as any other relevant equitable considerations. The relative fault of the Indemnifying Party, on the one hand, and the Indemnified Party, on the other hand, shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, has been made (or omitted) by, or relates to information supplied by such Indemnifying Party or such Indemnified Party, and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent any such action, statement or omission. The Company and the Holders agree that it would not be just and equitable if contribution pursuant to this <u>Section</u> <u>3.4</u> was determined solely upon *pro rata* allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding sentence of this <u>Section</u> <u>3.4</u>. Notwithstanding the foregoing, the amount each Holder or any Holder will be obligated to contribute pursuant to this <u>Section 3.4</u> will be limited to an amount equal to the net proceeds received by such Holder in respect of the Registrable Securities sold pursuant to the registration statement which gives rise to such obligation to contribute. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.

------

**ARTICLE IV** 

**Miscellaneous** 

Section 4.1 <u>Termination of Registration Rights</u>. This Agreement to register securities under <u>Article I</u> for sale under the Securities Act shall terminate on the earlier to occur of (i) with respect to any particular Holder, upon the date upon which such Holder no longer holds any Registrable Securities, and (ii) the date on which such securities become eligible for sale under Rule 144 (or any successor rule then in effect) promulgated under the Securities Act, without restriction thereunder and restrictive legends have been removed from all certificates representing the applicable Registrable Securities. Notwithstanding any termination of this Agreement pursuant to this <u>Section</u> <u>4.1</u>, the parties' rights and obligations under Article III hereof shall continue in full force and effect in accordance with their respective terms.

Section 4.2 <u>Successors and Assigns</u>. The parties' rights under this Agreement may not be assigned by any party hereto without the prior written consent of the other parties hereto. The parties' duties under this Agreement may not be delegated by any party hereto without the prior written consent of the other parties hereto. The provisions of this Agreement shall inure to the benefit of and be binding upon the respective successors and permitted assigns of the parties hereto.

Section 4.3 <u>Notices</u>. Any notice or request required or permitted to be delivered under this Agreement shall be given in writing and shall be deemed effectively given (a) if given by personal delivery, upon actual delivery; (b) if given by facsimile, upon receipt of confirmation of a completed transmittal; (c) if given by mail, upon the earlier of (i) actual receipt of such notice by the intended recipient; or (ii) three business days after such notice is deposited in first class mail, postage prepaid; and (d) if by an internationally recognized overnight courier, one business day after delivery to such courier for overnight delivery. All notices to the Company shall be addressed to the address below and all notices to any Holder shall be addressed to the address listed on such Holder's signature page hereto, or at such other address as the parties hereto may designate by ten days' advance written notice to the other parties:

If the Company:

Equity Bancshares, Inc.

7701 East Kellogg Drive, Suite 300

Wichita, Kansas 67207

Attention: Brad S. Elliott

Facsimile: (316) 681-0839

With a copy to (which shall not constitute notice to the Company):

Norton Rose Fulbright US LLP

2200 Ross Avenue, Suite 3600

Dallas, Texas 75201

Attention: Michael G. Keeley, Esq.

Facsimile: (214) 855-8200

If to a Holder:

[See signature pages hereto]

Section 4.4 <u>Governing Law</u>. This Agreement shall be governed in all respects by the Laws of the State of Kansas without regard to choice of Law or principles that could require the application of the Laws of any other jurisdiction.

Section 4.5 <u>Submission to Jurisdiction; Venue; Waiver of Trial by Jury</u>. Each party agrees that it will bring any action or proceeding in respect of any claim arising out of or related to this Agreement or the transactions contemplated hereby exclusively in any federal or state court of competent jurisdiction located in the State of Kansas (the "<u>Chosen Courts</u>"), and, solely in connection with claims

------

arising under this Agreement or the transactions that are the subject of this Agreement, (i) irrevocably submits to the exclusive jurisdiction of the Chosen Courts, (ii) waives any objection to laying venue in any such action or proceeding in the Chosen Courts, (iii) waives any objection that the Chosen Courts are an inconvenient forum or do not have jurisdiction over any party and (iv) agrees that service of process upon such party in any such action or proceeding will be effective if notice is given in accordance with <u>Section</u> <u>4.3</u>. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE, EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT, OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (III) EACH PARTY MAKES THIS WAIVER VOLUNTARILY; AND (IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS SET FORTH IN THIS <u>SECTION 4.5</u>.

Section 4.6 <u>Equitable Relief</u>. The parties hereto agree that irreparable damage would occur in the event that any provision of this Agreement was not performed in accordance with its specific terms or was otherwise breached. It is accordingly agreed that the parties hereto shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any court of competent jurisdiction, this being in addition to any other remedy to which they are entitled at Law or in equity. Additionally, each party hereto irrevocably waives any defense based on adequacy of any other remedy, whether at Law or in equity, that might be asserted as a bar to the remedy of specific performance of any of the terms or provisions hereof or injunctive relief in any action brought therefor.

Section 4.7 <u>Severability</u>. If any provision of this Agreement or the application of any such provision to any person or circumstance shall be declared by any court of competent jurisdiction to be invalid, illegal, void, or unenforceable in any respect, all other provisions of this Agreement, or the application of such provision to persons or circumstances other than those as to which it has been held invalid, illegal, void, or unenforceable, shall nevertheless remain in full force and effect and will in no way be affected, impaired, or invalidated thereby. Upon such determination that any provision, or the application of any such provision, is invalid, illegal, void, or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties hereto as closely as possible to the fullest extent permitted by Law in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the greatest extent possible.

Section 4.8 <u>Entire Agreement</u>. This Agreement and the Securities Purchase Agreement constitute the entire agreement between the parties hereto with respect to the subject matter hereof and supersede all prior written, and prior and contemporaneous oral, agreements and understandings between the parties with respect to the subject matter hereof.

Section 4.9 <u>No Third Party Beneficiaries</u>. Nothing in this Agreement (implied or otherwise) is intended to confer upon any person other than the parties hereto, or their respective successors and permitted assigns, any rights, remedies, obligations, or liabilities under or by reason of this Agreement.

------

Section 4.10 <u>Headings; Interpretation</u>. All headings and subheadings used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. The words "include," "includes," and "including" will be deemed to be followed by the phrase "without limitation." The meanings given to terms defined herein will be equally applicable to both the singular and plural forms of such terms. Unless expressly provided to the contrary, the word "or" is not exclusive and "hereunder," "hereof," "herein" and words of similar import are references to this Agreement as a whole and not any particular section or other provision of this Agreement. Whenever the context may require, any pronoun includes the corresponding masculine, feminine, and neuter forms. All references to "dollars" or "$" will be deemed references to the lawful money of the United States of America. Further, the parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party hereto by virtue of the authorship of any provisions of this Agreement. All annexes attached hereto are hereby incorporated herein by reference and made a part hereof.

Section 4.11 <u>Expenses</u>. Except as set forth in <u>Section</u> <u>2.3</u>, all fees, costs, and expenses incurred in connection with this Agreement and the transactions contemplated hereby, including accounting and legal fees, shall be paid by the party incurring such expenses.

Section 4.12 <u>Amendments and Waivers</u>. No term of this Agreement may be amended or modified without the prior written consent of each party hereto. No provision of this Agreement may be waived except in a writing executed and delivered by the party against whom such waiver is sought to be enforced.

Section 4.13 <u>Counterparts</u>. This Agreement may be executed in any number of counterparts and signatures may be delivered by facsimile or in electronic format (e.g., "PDF"), each of which may be executed by less than all parties hereto, each of which shall be enforceable against the parties hereto actually executing such counterparts, and all of which together shall constitute one instrument.

[*Signature page follows*]

------

IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first above written.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **EQUITY BANCSHARES, INC.** | **EQUITY BANCSHARES, INC.** |
| By: | /s/ Brad S. Elliott |

---

Name: Brad S. Elliott <br> Title: Chairman and Chief Executive Officer

[*Signature Page to Registration Rights Agreement*]

------

---

| | |
|:---|:---|
| **HOLDER:** | **HOLDER:** |
| **C. KENDRIC FERGESON 2011 FAMILY TRUSTS** | **C. KENDRIC FERGESON 2011 FAMILY TRUSTS** |
| By: | /s/ Jerry Krittenbrink |

---

---

| | |
|:---|:---|
| Name: | Jerry Krittenbrink, Co-Trustee |
| By: Argent Trust Company d/b/a Heritage Trust<br> Company, Co-Trustee | By: Argent Trust Company d/b/a Heritage Trust<br> Company, Co-Trustee |

---

---

| | |
|:---|:---|
| By: | /s/ Bruce A. Carson |

---

---

| | |
|:---|:---|
| Name: | Bruce A. Carson, Senior Vice President |
| Address for Notice: | Address for Notice: |
| 123 W. Commerce Street | 123 W. Commerce Street |
| Altus, Oklahoma 73521 | Altus, Oklahoma 73521 |

---

[*Signature Page to Registration Rights Agreement*]

------

---

| | |
|:---|:---|
| **HOLDER:** | **HOLDER:** |
| **JARROD LANE FERGESON IRREVOCABLE TRUST A/K/A JARROD FERGESON IRREVOCABLE TRUST** | **JARROD LANE FERGESON IRREVOCABLE TRUST A/K/A JARROD FERGESON IRREVOCABLE TRUST** |
| By: NBC Corp. of Oklahoma, Trustee | By: NBC Corp. of Oklahoma, Trustee |
| By: | /s/ H.K. Hatcher |
| Name: | H.K. Hatcher, President |
| Address for Notice: | Address for Notice: |
| 123 W. Commerce Street | 123 W. Commerce Street |
| Altus, Oklahoma 73521 | Altus, Oklahoma 73521 |

---

[*Signature Page to Registration Rights Agreement*]

------

---

| | |
|:---|:---|
| **HOLDER:** | **HOLDER:** |
| **CASEY LAUREN GILLIAM SUCCESSION TRUST DATED 9/1/04** | **CASEY LAUREN GILLIAM SUCCESSION TRUST DATED 9/1/04** |
| By: | /s/ H.K. Hatcher |
| Name: | H.K. Hatcher, Trustee |
| Address for Notice: | Address for Notice: |
| 123 W. Commerce Street | 123 W. Commerce Street |
| Altus, Oklahoma 73521 | Altus, Oklahoma 73521 |

---

[*Signature Page to Registration Rights Agreement*]

------

---

| | |
|:---|:---|
| **HOLDER:** | **HOLDER:** |
| **MARY ANN FERGESON OR KEN FERGESON, TRUSTEE OF MARY ANN FERGESON TRUST DATED 9/1/04** | **MARY ANN FERGESON OR KEN FERGESON, TRUSTEE OF MARY ANN FERGESON TRUST DATED 9/1/04** |
| By: | /s/ Ken Fergeson |
| Name: | Ken Fergeson, Trustee |
| Address for Notice: | Address for Notice: |
| 123 W. Commerce Street | 123 W. Commerce Street |
| Altus, Oklahoma 73521 | Altus, Oklahoma 73521 |

---

[*Signature Page to Registration Rights Agreement*]

------

---

| | |
|:---|:---|
| **HOLDER:** | **HOLDER:** |
| **KEN FERGESON, TRUSTEE OF THE KEN**<br> **FERGESON TRUST DATED 9/1/04 A/K/A**<br> **KEN FERGESON REVOCABLE TRUST** | **KEN FERGESON, TRUSTEE OF THE KEN**<br> **FERGESON TRUST DATED 9/1/04 A/K/A**<br> **KEN FERGESON REVOCABLE TRUST** |
| By: | /s/ Ken Fergeson |
| Name: | Ken Fergeson, Trustee |
| Address for Notice:<br>123 W. Commerce Street<br> Altus, Oklahoma 73521 | Address for Notice:<br>123 W. Commerce Street<br> Altus, Oklahoma 73521 |

---

[*Signature Page to Registration Rights Agreement*]

------

---

| | |
|:---|:---|
| **HOLDER:** | **HOLDER:** |
| **JARROD LANE FERGESON SUCCESSION**<br> **TRUST DATED 9/1/04** | **JARROD LANE FERGESON SUCCESSION**<br> **TRUST DATED 9/1/04** |
| By: | /s/ H.K. Hatcher |
| Name: | H.K. Hatcher |
| Address for Notice:<br>123 W. Commerce Street<br> Altus, Oklahoma 73521 | Address for Notice:<br>123 W. Commerce Street<br> Altus, Oklahoma 73521 |

---

[*Signature Page to Registration Rights Agreement*]

------

---

| | |
|:---|:---|
| **HOLDER:** | **HOLDER:** |
| **MARY ANN FERGESON 2011 FAMILY TRUSTS** | **MARY ANN FERGESON 2011 FAMILY TRUSTS** |
| By: | /s/ Jerry Krittenbrink |

---

---

| | |
|:---|:---|
| Name: | Jerry Krittenbrink, Co-Trustee |
| By: Argent Trust Company d/b/a Heritage Trust<br> Company, Co-Trustee | By: Argent Trust Company d/b/a Heritage Trust<br> Company, Co-Trustee |

---

---

| | |
|:---|:---|
| By: | /s/ Bruce A. Carson |

---

---

| | |
|:---|:---|
| Name: | Bruce A. Carson, Senior Vice President |
| Address for Notice:<br>123 W. Commerce Street<br> Altus, Oklahoma 73521 | Address for Notice:<br>123 W. Commerce Street<br> Altus, Oklahoma 73521 |

---

[*Signature Page to Registration Rights Agreement*]

------

---

| | |
|:---|:---|
| **HOLDER:** | **HOLDER:** |
| **CASEY LAUREN GILLIAM IRREVOCABLE**<br> **TRUST A/K/A CASEY GILLIAM**<br> **IRREVOCABLE TRUST** | **CASEY LAUREN GILLIAM IRREVOCABLE**<br> **TRUST A/K/A CASEY GILLIAM**<br> **IRREVOCABLE TRUST** |
|  By: NBC Corp. of Oklahoma, Trustee | By: NBC Corp. of Oklahoma, Trustee |
|  By: | /s/ H.K. Hatcher |

---

---

| | |
|:---|:---|
|  Name: | H.K. Hatcher, President |
|  Address for Notice:<br>123 W. Commerce Street<br> Altus, Oklahoma 73521 | Address for Notice:<br>123 W. Commerce Street<br> Altus, Oklahoma 73521 |

---

[*Signature Page to Registration Rights Agreement*]

------

**EXHIBIT A** 

**<u>DEFINED TERMS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The following capitalized terms have the meanings indicated:

"<u>Adverse Disclosure</u>" means public disclosure of material non-public information that, in the good faith judgment of the Company (after consultation with legal counsel): (i) would be required to be made in any registration statement filed with the SEC by the Company so that such registration statement would not be materially misleading; (ii) would not be required to be made at such time but for the filing, effectiveness or continued use of such registration statement; and (iii) the Company has a bona fide business purpose for not disclosing publicly.

"<u>Affiliates</u>" of any Person shall mean any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such Person. For purposes of this definition, "control" when used with respect to any Person has the meaning specified in Rule 12b-2 promulgated under the Exchange Act; and the terms "controlling" and "controlled" have meanings correlative to the foregoing.

"<u>Business Day</u>" means any day except a Saturday, a Sunday or other day on which the SEC or banks in the City of New York are authorized or required by law to be closed.

"<u>Exchange Act</u>" means the Securities Exchange Act of 1934, as amended, and any successor statute thereto, and the rules and regulations of the SEC promulgated thereunder.

"<u>FINRA</u>" means the Financial Industry Regulatory Authority, Inc.

"<u>Law</u>" means any applicable federal, state, local, foreign, or other law, statute, regulation, rule, ordinance, code, convention, directive, order, judgment, or other legal requirement of any foreign governmental authority, the United States of America, any state of the United States of America, and any political subdivision of any of the foregoing, and any agency, instrumentality, department, commission, board, bureau, central bank, authority, court, or other tribunal, having jurisdiction over any Holder, the Company, any of the Company's subsidiaries, or their respective properties.

"<u>Person</u>" shall mean any individual, corporation, trust, unincorporated organization, Governmental Authority, or any other form of entity.

"<u>register</u>", "<u>registered</u>" and "<u>registration</u>" refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration statement or the automatic effectiveness of such registration statement, as applicable.

"<u>Registration Expenses</u>" means all expenses incurred by the Company in complying with <u>Article I</u>, including all registration, qualification, listing and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the Company, fees and disbursements of counsel to the Holders (not to exceed $20,000), blue sky fees and expenses; <u>provided</u>, <u>however</u>, that Registration Expenses shall not be deemed to include any Selling Expenses.

"<u>Registrable Securities</u>" means, as of any date of determination, any shares of the Common Stock acquired by the Holders, whether from the Company, pursuant to the Reorganization Agreement, and any other securities issued or issuable with respect to any such shares of Common Stock by way of share split, share dividend, distribution, recapitalization, merger, exchange, replacement or similar event or otherwise.

------

As to any particular Registrable Securities, once issued, such securities shall cease to be Registrable Securities upon the earliest to occur of the date: (i) such securities are sold or otherwise transferred pursuant to an effective registration statement under the Securities Act, (ii) such securities shall have ceased to be outstanding, (iii) such securities have been transferred in a transaction in which the Holder's rights under this Agreement are not assigned to the transferee of the securities, and (iv) the date on which such securities become eligible for sale under Rule 144 (or any successor rule then in effect) promulgated under the Securities Act, without restriction thereunder and restrictive legends have been removed from all certificates representing the applicable Registrable Securities.

"<u>Restricted Securities</u>" means any Common Stock required to bear the legend set forth in Section 1.05(h) of the Reorganization Agreement.

"<u>Rule 144</u>" means Rule 144 promulgated under the Securities Act and any successor provision.

"<u>Selling Expenses</u>" means all underwriting discounts, selling commissions and stock transfer taxes applicable to the securities registered by the Holders, and the fees and expenses of any counsel to the Holders (other than such fees and expenses expressly included in Registration Expenses).

"<u>SEC</u>" means the U.S. Securities and Exchange Commission.

"<u>Securities Act</u>" means the Securities Act of 1933, as amended, and any successor statute thereto, and the rules and regulations of the SEC promulgated thereunder.

"<u>Shelf Registration Statement</u>" means the Resale Shelf Registration Statement or a Subsequent Shelf Registration Statement, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The following terms are defined in the Sections of the Agreement indicated:

**INDEX OF TERMS** 

---

| | |
|:---|:---|
| Term | Section |
| Agreement | Preamble |
| Chosen Courts | Section 4.5 |
| Common Stock | Recitals |
| Company | Preamble |
| Company Indemnified Parties | Section 3.1 |
| Effectiveness Period | Section 1.2 |
| Holder Indemnified Parties | Section 3.2 |
| Indemnified Party | Section 3.3 |
| Indemnifying Party | Section 3.3 |
| Interruption Period | Section 2.1(o) |
| Losses | Section 3.1 |
| Offering Persons | Section 2.1(m) |
| Other Stockholders | Section 1.5(c) |
| Holders | Preamble |
| Reorganization Agreement | Recitals |
| Resale Shelf Registration Statement | Section 1.1 |
| Shelf Offering | Section 1.6 |
| Subsequent Shelf Registration Statement | Section 1.3 |
| Take-Down Notice | Section 1.6 |
| Underwritten Offering | Section 1.5(a) |
| Underwritten Offering Notice | Section 1.5(a) |

---