Document:

Exhibit 10.57

    EXHIBIT
      10.57

    Executive
      Employment Agreement

     

    EMPLOYMENT
      AGREEMENT (the "Agreement") made as of September 25, 2005 between ARIAD
      Pharmaceuticals, Inc. (the "Company"), a Delaware corporation, and Richard
      W.
      Pascoe (the "Employee").

    1. Employment,
      Duties and Acceptance.

    1.1 The
      Company hereby employs the Employee, for the Term (as hereinafter defined),
      to
      render full-time services to the Company, and to perform such duties as he
      shall
      reasonably be directed by the Chief Executive Officer of the Company to perform.
      The Employee's title shall be designated by the Chief Executive Officer and
      initially shall be Vice President and Chief Commercial Officer.

    1.2 
      The
      Employee hereby accepts such employment and agrees to render the services
      described above.

    1.3 The
      principal place of employment of the Employee hereunder shall be in the greater
      Boston, Massachusetts area, or other locations reasonably acceptable to the
      Employee. The Employee acknowledges that for limited periods of time he may
      be
      required to provide services to the Company outside of the Boston, Massachusetts
      area.

    1.4 Notwithstanding
      anything to the contrary herein, although the Employee shall provide services
      as
      a full-time employee, it is understood that the Employee may (a) have an
      academic appointment and (b) participate in professional activities
      (collectively, "Permitted Activities'); provided,
      however,
      that
      such Permitted Activities do not interfere with the Employee's duties to the
      Company.

     

     

    
      
         

      

      
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    2.  Term
      of
      Employment.

    The
      term
      of the Employee's employment under this Agreement (the "Term") shall commence
      on
      November 14, 2005 (the "Effective Date"), or such other date mutually agreed
      upon by the parties, and shall end on December 31, 2007, unless sooner
      terminated pursuant to Section 4 or 5 of this Agreement; provided,
      however,
      that this
      Agreement shall automatically be renewed for successive one-year terms (the
      Term
      and, if the period of employment is so renewed, such additional period(s) of
      employment are collectively referred to herein as the "Term") unless terminated
      by written notice given by either party to the other at least 90 days prior
      to
      the end of the applicable Term. 

    3.  Compensation.

    3.1 
      As full
      compensation for all services to be rendered pursuant to this Agreement, the
      Company agrees to pay the Employee, during the Term, a salary at the fixed
      rate
      of $275,000 per annum during the first year of the Term and increased each
      year
      thereafter by amounts, if any, to be determined by the Board of Directors of
      the
      Company (the "Board"), in its sole discretion, payable in equal biweekly
      installments, less such deductions or amounts to be withheld as shall be
      required by applicable law and regulations.

    3.2 
      Each
      year, Employee shall be eligible to receive a discretionary bonus of up to
      a
      target of 30% of base salary, which bonus shall be determined annually in the
      sole discretion of the Board. The bonus, if any, may be paid in the form of
      stock options, restricted stock awards or units, deferred compensation or cash,
      as determined by the Board.

     

    
      
         

      

      
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    3.3 
      The
      Company shall pay or reimburse the Employee for all reasonable expenses actually
      incurred or paid by him during the Term in the performance of his services
      under
      this Agreement, upon presentation of expense statements or vouchers or such
      other supporting information as it may require.

    3.4 
      The
      Employee shall be eligible under any incentive plan, stock award plan, bonus,
      deferred or extra compensation plan, pension, group health, disability,
      long-term care, and life insurance or other so-called "fringe" benefits, which
      the Company provides for its executives at the comparable level. All stock
      options and stock awards granted to the Employee shall be subject to a vesting
      schedule, which shall be determined by the Compensation Committee of the Board.
      The stock options and stock awards, if any, to be granted to the Employee in
      the
      future shall also be subject to the terms of a stock option plan and certificate
      and stock award plan and certificate, respectively. Any unvested options shall
      be forfeited to the Company in the event (a) this Agreement is terminated by
      the
      Company for Cause pursuant to Section 4 herein, or (b) either party elects
      not
      to renew this Agreement pursuant to Section 2 herein.

    3.5 The
      Company shall grant the Employee an option to purchase 75,000 shares
      of
      the Company's Common Stock at the fair market value on the date of the Board's
      approval of the grant. The Employee agrees that all such options shall be
      subject to a four-year vesting schedule, vesting in equal increments of 25%
      on
      each anniversary of their issuance and shall be subject to the terms and
      conditions of a stock option agreement between the Employee and the Company.
      Any
      unvested options shall be forfeited to the Company in the event (a) this
      Agreement is terminated by the Company for Cause pursuant to Section 4 herein,
      or (b) either party elects not to renew this Agreement pursuant to Section
      2
      herein.

     

     

    
      
         

      

      
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    4.  Termination
      by the Company.

    The
      Company may terminate this Agreement, if any one or more of the following shall
      occur:

    (a) The
      Employee shall die during the Term; provided,
      however,
      that the
      Employee's legal representatives shall be entitled to receive the compensation
      provided for hereunder to the last day of the month in which his death
      occurs.

    (b) 
      The
      Employee shall become physically or mentally disabled, whether totally or
      partially, so that he is unable substantially to perform his services hereunder
      for (i) a period of 180 consecutive days, or
      (ii)
      for shorter periods aggregating 180 days during any 12 month
      period.

    (c)  
      The
      Employee acts, or fails to act, in a manner that provides Cause for termination.
      For purposes of this Agreement, the term "Cause" means (i) the failure by the
      Employee to perform any of his material duties hereunder, (ii) the conviction
      of
      the Employee of any felony involving moral turpitude, (iii) any acts of fraud
      or
      embezzlement by the Employee involving the Company or any of its Affiliates,
      (iv) violation of any federal, state or local law, or administrative regulation
      related to the business of the Company, (v) breach of fiduciary duty, including,
      but not limited to, conflict of interest, (vi) conduct that could result in
      publicity reflecting unfavorably on the Company in a material way, (vii) failure
      to comply with any written policies of the Company, or (viii) a breach of the
      terms of this Agreement by the Employee. If the conduct constituting Cause
      hereunder is susceptible to cure, the Company shall provide the Employee written
      notice of termination pursuant to this Section 4, and Employee shall have 30
      days to cure or remedy such failure or breach, in which case this Agreement
      shall not be terminated. If the conduct is not susceptible to cure, this
      Agreement shall terminate upon written notice by the Company.

     

     

    
      
         

      

      
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    5.
      Termination
      by the Employee.

     

       
      5.1 The
      Employee may terminate this Agreement, if any one or more of the following
      shall
      occur:

    (a) 
      a
      material breach of the terms of this Agreement by the Company and such breach
      continues for 30 days after the Employee gives the Company written notice of
      such breach;

    (b) 
      the
      Company shall make a general assignment for benefit of creditors; or any
      proceeding shall be instituted by the Company seeking to adjudicate it as
      bankrupt or insolvent, or seeking liquidation, winding up, reorganization,
      arrangement, adjustment, protection, relief, or composition of it or its debts
      under law relating to bankruptcy, insolvency or reorganization or relief of
      debtors, or seeking entry of an order for relief or the appointment of a
      receiver, trustee, or other similar official for it or for any substantial
      part
      of its property or the Company shall take any corporate action to authorize
      any
      of the actions set forth above in this subsection 5(b);

    (c) 
      an
      involuntary petition shall be filed or an action or proceeding otherwise
      commenced against the Company seeking reorganization, arrangement or
      readjustment of the Company's debts or for any other relief under the Federal
      Bankruptcy Code, as amended, or under any other bankruptcy or insolvency act
      or
      law, state or federal, now or hereafter existing and remain undismissed or
      unstayed for a period of 30 days; or

     

     

    
      
         

      

      
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    (d) 
      a
      receiver, assignee, liquidator, trustee or similar officer for the Company
      or
      for all or any part of its property shall be appointed
      involuntarily.

    6. Severance.

     

    6.1
      If
      (i) the
      Company terminates this Agreement without Cause or (ii) the Employee terminates
      this Agreement pursuant to Section 5.1(a), then: (1) except in the case of
      death
      or disability, the Company shall continue to pay Employee his then-current
      salary for the remaining period of the applicable Term; (2) all stock options
      granted pursuant to this Agreement that would have vested during the Term shall
      vest immediately prior to such termination; and (3) the Company shall continue
      to provide all benefits subject to COBRA at its expense for up to one year.
      

     

    7.
       Other
      Benefits.

    In
      addition to all other benefits contained herein, the Employee shall be entitled
      to:   

     (a) Relocation
      expenses for the Employee, consisting of (i) all reasonable direct out-of-pocket
      costs of transporting the Employee, the Employee’s immediate family, and the
      Employee's household items from the Employee's current residence in New Jersey
      to a new residence in the greater Boston, Massachusetts area; (ii) reasonable
      travel and lodging to visit the greater Boston, Massachusetts area to search
      for
      a new residence; (iii) reasonable costs of rent and primary services associated
      with temporary housing at an approved location in the greater Boston,
      Massachusetts area for a 

     

    
      
         

      

      
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    maximum
      period of 60 days from the Employee’s start date or until he finds a suitable
      residence, if earlier, and (iv) except as described in the next succeeding
      sentence and subject to prior approval, the reasonable closing costs associated
      with the Employee’s purchase of a new residence in the greater Boston,
      Massachusetts area within ten months of the Employee's date of employment.
      The
      following closing (settlement) costs will not
      be paid
      by the Company: (1) real estate and other taxes, (2) insurance premiums other
      than title insurance, and (3) commitment fees and prepaid interest (i.e.,
      "points") in excess of 2% 

    (b)
       Vacation
      time of four weeks per year taken in accordance with the vacation policy of
      the
      Company.

    (c) 
      After six
      years of employment, one three-month period of fully paid leave of absence
      in
      accordance with Company policies in place at that time; it being understood
      that
      such policies may restrict the Employee from taking such leave of absence until
      a time that is acceptable to the Company and may include other such
      limitations.

    (d) 
      Group
      health, disability, long-term care, and life insurance. 

    (e) The
      Company shall provide the Employee with an automobile allowance of $750 per
      month and standard
      tax preparation and planning services.

    (f)
       To
      facilitate the Employee's relocation, the Company will provide the Employee
      with
      a one-time relocation advance (the “Relocation Advance”) in the amount of
      $25,000 to be used towards the purchase of the Employee's new principal
      residence (the "Residence"), payable by the Company at the time of closing
      on
      such residence (the “Closing”). The Employee shall be obligated to repay the
      Relocation Advance within thirty days of the occurrence of any of the following
      events: (a) the Employee terminates this Agreement prior to December 31, 2006,
      except as provided pursuant to Section 5.1 herein, or (b) the Company terminates
      this Agreement for Cause pursuant to Section 4 herein. As of December 31, 2006,
      the Relocation Advance shall no longer be subject to repayment by the
      Employee.

     

     

    
      
         

      

      
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      8.
Confidentiality. 

    

    8.1 The
      Employee acknowledges that, during the course of performing his services
      hereunder, the Company shall be disclosing information to the Employee related
      to the Company's Field of Interest, Inventions, projects and business plans,
      as
      well as other information (collectively, "Confidential Information"). The
      Employee acknowledges that the Company's business is extremely competitive,
      dependent in part upon the maintenance of secrecy, and that any disclosure
      of
      the Confidential Information would result in serious harm to the
      Company.

    8.2
       The
      Employee agrees that the Confidential Information only shall be used by the
      Employee in connection with his activities hereunder as an employee of the
      Company, and shall not be used in any way that is detrimental to the
      Company.

    8.3 The
      Employee agrees not to disclose, directly or indirectly, the Confidential
      Information to any third person or entity, other than representatives or agents
      of the Company. The Employee shall treat all such information as confidential
      and proprietary property of the Company.

    8.4 The
      term
      "Confidential Information" does not include information that (a) is or becomes
      generally available to the public other than by disclosure in violation of
      this
      Agreement, (b) was within the Employee's possession prior to being furnished
      to
      such Employee, (c) becomes available to the Employee on a nonconfidential basis
      or (d) was independently developed by the Employee without reference to the
      information provided by the Company.

     

     

    
      
         

      

      
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    8.5 
      The
      Employee may disclose any Confidential Information that is required to be
      disclosed by law, government regulation or court order. If disclosure is
      required, the Employee shall give the Company advance notice so that the Company
      may seek a protective order or take other action reasonable in light of the
      circumstances.

    8.6 Upon
      termination of this Agreement, the Employee shall promptly return to the Company
      all materials containing Confidential Information, as well as data, records,
      reports and other property, furnished by the Company to the Employee or produced
      by the Employee in connection with services rendered hereunder. Notwithstanding
      such return or any of the provisions of this Agreement, the Employee shall
      continue to be bound by the terms of the confidentiality provisions contained
      in
      this Section 8 for a period of three years after the termination of this
      Agreement.

    8.7 In
      connection with his employment by the Company, the Employee hereby acknowledges
      that he may enter into more than one agreement with regard to (a) the
      confidentiality of certain books, records, documents and business, (b) rights
      to
      certain inventions, proprietary information, and writings, (c) publication
      of
      certain materials, and (d) other related matters (the "Confidential Matters")
      of
      the Company (the "Confidentiality Agreements"). In order to clarify any
      potential conflicts between certain respective provisions of such
      Confidentiality Agreements, the Employee and the Company hereby agree that,
      as
      among such Confidentiality Agreements, the provision (or part thereof) in any
      such Confidentiality Agreement which affords the greatest protection to the
      Company with respect to the Confidential Matters shall control.

    9. Inventions
      Discovered by the Employee While Performing
      Services Hereunder.
      

    During
      the
      Term, the Employee shall promptly disclose to the Company any invention,
      improvement, discovery, process, formula, or method or other intellectual
      property, whether or not patentable, whether or not copyrightable (collectively,
      "Inventions") made, conceived or first reduced to practice by the Employee,
      either alone or jointly with others, while performing service hereunder. The
      Employee hereby assigns to the Company all of his right, title and interest
      in
      and to any such Inventions. During and after the Term, the Employee shall
      execute any documents necessary to perfect the assignment of such Inventions
      to
      the Company and to enable the Company to apply for, obtain, and enforce patents
      and copyrights in any and all countries on such Inventions. The Employee hereby
      irrevocably designates the Chief Patent Counsel to the Company as his agent
      and
      attorney-in-fact to execute and file any such document and to do all lawful
      acts
      necessary to apply for and obtain patents and copyrights and to enforce the
      Company's rights under this paragraph. This Section 9 shall survive the
      termination of this Agreement.

     

    
      
         

      

      
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    10.  Non-Competition
      and Non-Solicitation.

    During
      the
      Term and for a period of one year following the date of termination or
      nonrenewal for any reason (other than termination pursuant to Section 5.1(a):
      (a) the Employee shall not in the United States or in any country in which
      the
      Company shall then be doing business, directly or indirectly, enter the employ
      of, or render any services to, any person, firm or corporation engaged in any
      business competitive with the business of the Company or of any of its
      subsidiaries or affiliates of which the Employee may become an employee or
      officer during the Term; he shall not engage in such business on his own
      account; and he shall not become interested in any such business, directly
      or
      indirectly, as an individual, partner, shareholder, director, officer,
      principal, agent, employee, trustee, consultant, or any other relationship
      or
      capacity; provided, however, that nothing contained in this Section 10 shall
      be
      deemed to prohibit the Employee from acquiring, solely as an investment, shares
      of capital stock of any public corporation; (b) neither the Employee nor any
      Affiliate of the Employee shall solicit or utilize, or assist any person in
      any
      way to solicit or utilize, the services, directly or indirectly, of any of
      the
      Company's directors, consultants, members of the Board of Scientific and Medical
      Advisors, officers or employees (collectively, "Associates of the Company").
      This nonsolicitation and nonutilization provision shall not apply to Associates
      of the Company who have previously terminated their relationship with the
      Company.

    10.1 
      If the
      Employee commits a breach, or threatens to commit a breach, of any of the
      provisions of this Section 10, the Company shall have the following rights
      and
      remedies:

    10.1.1 
      The right
      and remedy to have the provisions of this Agreement specifically enforced by
      any
      court having equity jurisdiction, it being acknowledged and agreed that any
      such
      breach or threatened breach shall cause irreparable injury to the Company and
      that money damages shall not provide an adequate remedy to the Company;
      and

     

    
      
         

      

      
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    10.1.2 
      The right
      and remedy to require the Employee to account for and pay over to the Company
      all compensation, profits, monies, accruals,  increments
      or other benefits (collectively "Benefits") derived or received by the Employee
      as the result of any transactions constituting a breach of any of the provisions
      of the preceding paragraph, and the Employee hereby agrees to account for and
      pay over such Benefits to the Company.

    Each
      of
      the rights and remedies enumerated above shall be independent of the other,
      and
      shall be severally enforceable, and all of such rights and remedies shall be
      in
      addition to, and not in lieu of, any other rights and remedies available to
      the
      Company under law or in equity.

    10.2 If
      any of
      the covenants contained in Section 8, 9 or 10, or any part thereof, is hereafter
      construed to be invalid or unenforceable, the same shall not affect the
      remainder of the covenant or covenants, which shall be given full effect without
      regard to the invalid portions.

    10.3 If
      any of
      the covenants contained in Section 8, 9 or 10, or any part thereof, is held
      to
      be unenforceable because of the duration of such provision or the area covered
      thereby, the parties agree that the court making such determination shall have
      the power to reduce the duration and/or area of such provision and, in its
      reduced form, such provision shall then be enforceable.

    10.4 The
      parties hereto intend to and hereby confer jurisdiction to enforce the covenants
      contained in Sections 8, 9 and 10 upon the courts of any state within the
      geographical scope of such covenants. In the event that the courts of any one
      or
      more of such states shall hold any such covenant wholly unenforceable by reason
      of the breadth of such scope or otherwise, it is the intention of the parties
      hereto that such determination not bar or in any way affect the Company's right
      to the relief provided above in the courts of any other states within the
      geographical scope of such covenants, as to breaches of such covenants in such
      other respective jurisdictions, the above covenants as they relate to each
      state
      being, for this purpose, severable into diverse and independent
      covenants.

     

    
      
         

      

      
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    11.
       Indemnification.

    The
      Company shall indemnify the Employee, to the maximum extent permitted by
      applicable law, against all costs, charges and expenses incurred or sustained
      by
      him in connection with any action, suit or proceeding to which he may be made
      a
      party by reason of his being an officer, director or employee of the Company
      or
      of any subsidiary or affiliate of the Company. The Company shall provide,
      subject to its availability upon reasonable terms (which determination shall
      be
      made by the Board) at its expense, directors and officers insurance for the
      Employee in reasonable amounts. Determination with respect to (a) the
      availability of insurance upon reasonable terms and (b) the amount of such
      insurance coverage shall be made by the Board in its sole
      discretion.

    12.
       Notices.

    All
      notices, requests, consents and other communications required or permitted
      to be
      given hereunder shall be in writing and shall be deemed to have been duly given
      if sent by prepaid telegram (confirmed delivery by the telegram service),
      private overnight mail service (delivery confirmed by such service), registered
      or certified mail (return receipt requested), or delivered personally, as
      follows (or to such other address as either party shall designate by notice
      in
      writing to the other in accordance herewith):

    

    If
      to the
      Company:

    

    ARIAD
      Pharmaceuticals, Inc.

    26
      Landsdowne Street

    Cambridge,
      Massachusetts 02139

    Attention:
      Chief Executive Officer 

    Telephone:
       (617)
      494-0400

    Facsimile:
      (617) 494-1828

    

    If
      to the
      Employee:

    

    Richard
      W.
      Pascoe

    39
      Monroe
      Avenue

    Belle
      Mead, New Jersey 08502

    Telephone:
       (609)
      240-4926

     

     

    
      
         

      

      
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    13.
       General.

    13.1 This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the Commonwealth of Massachusetts applicable to agreements made and
      to
      be performed entirely in Massachusetts.

    13.2 
      The
      Section headings contained herein are for reference purposes only and shall
      not
      in any way affect the meaning or interpretation of this Agreement.

    13.3 
      This
      Agreement sets forth the entire agreement and understanding of the parties
      relating to the subject matter hereof, and supersedes all prior agreements,
      arrangements and understandings, written or oral, relating to the subject matter
      hereof. No representation, promise or inducement has been made by either party
      that is not embodied in this Agreement, and neither party shall be bound by
      or
      liable for any alleged representation, promise or inducement not so set
      forth.

     

    
      
         

      

      
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    13.4 
      This
      Agreement and the Employee's rights and obligations hereunder may not be
      assigned by the Employee or the Company; provided,
      however,
      the
      Company may assign this Agreement to an Affiliate or a successor-in
      interest.

    13.5 This
      Agreement may be amended, modified, superseded, canceled, renewed or extended,
      and the terms or covenants hereof may be waived, only by a written instrument
      executed by the parties hereto, or in the case of a waiver, by the party waiving
      compliance. The failure of a party at any time or times to require performance
      of any provision hereof shall in no manner affect the right at a later time
      to
      enforce the same. No waiver by a party of the breach of any term or covenant
      contained in this Agreement, whether by conduct or otherwise, in any one or
      more
      instances, shall be deemed to be, or construed as, a further or continuing
      waiver of any such breach, or a waiver of the breach of any other term or
      covenant contained in this Agreement.

    14. Definitions.
      As used
      herein the following terms have the following meaning:

    (a) 
      "Affiliate" means and includes any corporation or other business entity
      controlling, controlled by or under common control with the corporation in
      question.

    (b) The
      “Company’s Field of Interest” is the discovery, development and
      commercialization of pharmaceutical products based on (a) intervention in cell
      signaling and (b) gene and cell therapy. The Company’s Field of Interest may be
      changed at any time at the sole discretion of the Company and upon written
      notice to Employee.

     

     

    
      
         

      

      
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    (c) 
      "Person"
      means any natural person, corporation, partnership, firm, joint venture,
      association, joint stock company, trust, unincorporated organization,
      governmental body or other entity.

    (d) 
      "Subsidiary" means any corporation or other business entity directly or
      indirectly controlled by the corporation in question.

     

    

    

    

    

    

    [This
      space intentionally left blank.]

    
 

    
      
         

      

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

     

     

    
      	 	 	 
	 	
              ARIAD
                PHARMACEUTICALS, INC.

            
	 
 	 
 	 
 
	 	By:  	/s/
              Harvey J. Berger  
	 	Harvey
              J. Berger, M.D.
	 	
              Chairman
                and Chief Executive Officer

            

    

    

    
      	 	 	 
	 	EMPLOYEE
	 
 	 
 	 
 
	 	 	/s/
              Richard W.
              Pascoe
	 	Richard W.
              Pascoe

     

    
      
         

      

      
        16Exhibit 10.28

    Exhibit
      10.28

    
 

    RESTRICTED
      STOCK AGREEMENT

     

    THIS
      RESTRICTED STOCK AGREEMENT (the
      “Agreement”),
      effective as of _________ (the “Effective
      Date”),
      is
      between SCBT
      FINANCIAL CORPORATION, a
      South
      Carolina corporation (the “Corporation”),
      and
      _______, an individual residing in _________County, South Carolina
      (“Director”).

     

    Section
      1.  Purpose.
      The
      purpose of this Agreement is to award (the “Award”)
      to
      Director restricted shares of Common Stock, par value $2.50 per share, of the
      Corporation (“Common
      Stock”)
      pursuant to the 2004 SCBT Financial Corporation Stock Incentive Plan, a copy
      of which is attached as Exhibit
      A
      (the
“Plan”).
      This
      Award is made to recognize and reward Director for his service to the
      Corporation or one of its subsidiaries. 

     

    Section
      2.  Award
      of Restricted Stock.
      The
      Corporation hereby awards and issues to Director ________ shares of Common
      Stock
      (the “Shares”)
      pursuant to the Plan. The Shares shall be duly paid and nonassessable and shall
      be subject to the restrictions and limitations set forth herein.

     

    Section
      3.  Restrictions.
      Prior to
      the vesting of the Shares, as set forth in Section 4
      hereof:

     

    (a)  the
      Shares
      shall not be transferable and shall not be sold, exchanged, transferred,
      assigned, pledged, hypothecated or otherwise disposed of; and

     

    (b)  the
      stock
      certificate(s) evidencing the Shares shall contain the following
      legend:

     

    “The
      shares represented by this certificate are subject to the terms of a Restricted
      Stock Agreement effective as of _________, a copy of which is available at
      the
      principal office of the corporation.”

     

    Except
      as
      expressly stated herein, Director shall have all rights as a shareholder with
      respect to the Shares, commencing as of the date of issuance thereof and
      continuing for so long as Director remains the record owner of the Shares,
      including the right to receive dividends in cash or other property and other
      distributions or rights in respect of the Shares and to vote the Shares as
      the
      record owner thereof.

     

    Section
      4.  Vesting.
      The
      restrictions described in Section 3
      shall
      lapse and the Shares shall vest in Director on the following dates:

     

    (a)  on
      the
      first anniversary of the Effective Date, to the extent of
      ___Shares;

     

    (b)  on
      the
      second anniversary of the Effective Date, to the extent of
      ___Shares;

    

    (c)  on
      the
      third anniversary of the Effective Date, to the extent of
      ___Shares;

    

    (d)  on
      the
      fourth anniversary of the Effective Date, to the extent of ___Shares;

     

    (e)  at
      any
      time immediately prior to consummation of a Change of Control (as defined
      in the Plan) or in the event of Director’s death, to the extent of any and all
      unvested Shares as of such time.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    Upon
      the
      vesting of any Shares, Director shall be entitled to receive replacement stock
      certificate(s) evidencing such vested Shares and such certificate(s) shall
      not
      contain the legend set forth in Section 3(b).
      However,
      any replacement stock certificate(s) issued to an employee who
      is
      a director or an executive officer of the Corporation
      shall
      bear the following legend:

     

    “The
      registered holder of the shares represented by this certificate, at the time
      of
      issuance hereof, may be deemed to be an affiliate of the Corporation under
      the
      Securities Act of 1933. Such securities may not be sold, offered for sale,
      pledged, hypothecated or transferred in the absence of an effective registration
      statement covering such transaction under such laws or an opinion of counsel
      satisfactory to the Corporation that such registration is not
      required.”

     

    Section
      5.  Forfeiture.
      If,
      prior
      to a Change of Control (as defined in the Plan) occurring after the date of
      this
      Agreement or prior to the death of Director, the employment of Director with
      the
      Corporation and its subsidiaries terminates for any reason (other than due
      to
      the death of Director), all of the Shares that are not vested under Section 4
      as of the
      date of termination shall be forfeited to the Corporation (such event being
      referred to herein as a “Forfeiture
      Event”).
      Upon
      the occurrence of a Forfeiture Event, Director shall return for cancellation
      all stock
      certificates representing unvested Shares, and irrespective of whether such
      stock certificates are so returned and cancelled, all unvested Shares shall
      automatically, without further action, be cancelled and shall no longer be
      issued and outstanding.

     

    Section
      6.  Taxes.

     

    (a)  If
      Director properly elects and so informs the Corporation, within 30 days of
      the
      date on which he acquires the Shares, to include in gross income for federal
      income tax purposes an amount equal to the fair market value (as of the date
      of
      issuance) of the Shares granted pursuant to this Agreement, Director shall
      be
      responsible for paying, for the tax year of this Agreement, all federal, state
      and local taxes required with respect to the grant of the Shares.

     

    (b)  If
      Director does not make the election and notification to the Corporation
      described in subparagraph (a) of this section, he shall, for the tax year or
      years as to which the restrictions described in Section 3
      shall
      lapse as to any Shares, be responsible for paying all federal, state and local
      taxes of any kind required by law.

     

    Section
      7.  Miscellaneous.

     

    (a)  This
      Agreement shall be construed, administered and governed in all respects under
      and by the applicable internal laws of the State of South Carolina, without
      giving effect to the principles of conflicts of laws thereof.

     

    (b)  This
      Agreement expresses the entire agreement between the parties hereto and
      supersedes any prior or contemporaneous written or oral understanding or
      agreement regarding the subject matter hereof. This Agreement may not be
      modified, amended, supplemented or waived except by a writing signed by the
      parties hereto, and such writing must refer specifically to this
      Agreement.

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

     

    (c)  This
      Agreement, as amended from time to time, shall be binding upon, inure to the
      benefit of and be enforceable by the heirs, successors and assigns of the
      parties hereto; provided,
      however,
      that
      this provision shall not permit any assignment in contravention of the terms
      contained elsewhere herein.

     

    (d)  Nothing
      in
      this Agreement shall confer on Director any right to continue in the employ
      of
      the Corporation or any of its subsidiaries.

     

    (e) This
      Agreement is made pursuant to and is subject to the terms and conditions of
      the
      Plan, which is incorporated herein by reference.

    

    IN
      WITNESS WHEREOF,
      this
      Agreement has been duly executed and has an effective date of the ___ day of
      ______ 20XX.

     

     

    
      	 	 	 
	 	
              SCBT
                FINANCIAL CORPORATION,
a
              South Carolina corporation
	 
 	 
 	 
 
	 	By:  	/s/ 
	 	
              
Name:
              Robert R. Hill, Jr.
	 	Title: President
              and Chief Executive Officer

    

     

     

    
      	 	 	 
	 	DIRECTOR
	 
 	 
 	 
 
	 	 	 
	 	
              
Signature
	 	 
	
              Print
                Name:

            	 
	 	
              

            
	
              Date
                signed:

            	 
	 	
              

            

    

     

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    Exhibit
      A

    

    Stock
      Incentive Plan

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