Document:

Form of Subscription Agreement

 Exhibit 10.1 
 PALMETTO BANCSHARES, INC. 
 SUBSCRIPTION AGREEMENT 

Palmetto Bancshares, Inc. 
 306 East North
Street 
 Greenville, South Carolina 29601 
 Ladies and Gentlemen: 
 Reference is made to that certain Stock Purchase
Agreement, dated as of May 25, 2010 (as amended by Amendment No. 1 dated as of June 8, 2010 and Amendment No. 2 dated as of September 22, 2010, the “Stock Purchase Agreement”), between Palmetto Bancshares, Inc., a
South Carolina corporation (the “Company”), and each of the investors set forth on the signature pages to the Stock Purchase Agreement (the “Investors”). Pursuant to Section 7.02(a) of the Stock Purchase Agreement, each
Investor shall have the right to purchase its pro rata share (based on the number of shares of common stock purchased by the Investor under the Stock Purchase Agreement) of any shares of common stock not subscribed for in the Company’s
Follow-on Offering (as defined in the Stock Purchase Agreement). 
 The undersigned (the “Investor”) understands that
2,616,124 shares of the Company’s common stock, par value $0.01 per share (the “Shares”), were not subscribed for in the Follow-on Offering and, as a result, the Company is offering for sale the Shares at a cash purchase price of
$2.60 per Share to each Investor on a pro rata basis based on the number of shares of common stock purchased by the Investor under the Stock Purchase Agreement. Based on these premises, the Investor hereby confirms its agreement with the Company as
follows: 
 1. On the date hereof, the Investor agrees to purchase from the Company, and upon acceptance of the Investor’s
subscription and in reliance on the Investor’s representations, warranties, and covenants contained herein, the Company will issue and sell to the Investor, such Shares as are set forth on the signature page hereof or such lesser number of
Shares as the Company may allocate to the Investor for $2.60 per Share, for an aggregate amount of up to the amount set forth on such signature page. 
 2. The Investor shall purchase the Shares by delivering to the Company a certified check, cash, or wire transfer in an amount equal to the number of Shares the Investor is purchasing multiplied by the
purchase price of $2.60 per Share, promptly after the Company countersigns and returns the signature page. 
 3. The Investor
represents, warrants, and agrees as follows: 
 (a) The Investor is an “accredited investor” as defined by Rule 501(a)
promulgated under the Securities Act of 1933 (the “Securities Act”). 
 (a) The Investor has had an opportunity to ask
questions of and receive answers from representatives of the Company concerning the investment in the Shares. The Investor acknowledges that the Investor is familiar with the financial condition of and regulatory issues relating to the Company and
its wholly-owned subsidiary, The Palmetto Bank. The Investor acknowledges that all documents, records, and books pertaining to this investment and the Company and its operations (the “Information”) have been made available for inspection
by the Investor and its attorneys, accountants, and/or financial advisors. The Investor also understands that the Company will, upon the Investor’s request, make available to the Investor a copy of any Information regarding the Company and its
operations which the Company possesses or can obtain without unreasonable expense. The Investor has reviewed the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K located on the SEC’s
Electronic Data 

  
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Gathering, Analysis, and Retrieval system, including the risk factors described in those filings, and all other materials the Investor has requested in connection with its decision to make this
investment. The Investor has such knowledge and experience in financial and business matters generally and with respect to the Company in particular that the Investor is capable of evaluating the merits and risks of the investment in the Shares.

 (b) The Investor understands that the Shares have not been passed on as to the fairness or recommended or endorsed by any
federal or state agency and their issuance will not be registered under the Securities Act or the securities laws of any state, in reliance upon exemptions from registration contained in the Securities Act and such laws. The Company’s reliance
upon such exemptions is based in part upon the Investor’s representations, warranties, and agreements contained in this Subscription Agreement. 
 (c) The Investor is purchasing the Shares for its own account and not for distribution or resale to others, and the Investor agrees that it will not sell or otherwise transfer the Shares unless the Shares
have been registered under the Securities Act and applicable state securities laws, or, in an opinion of counsel acceptable to the Company, an exemption therefrom is available. 

(d) The instruments representing the Shares will contain a legend stating that their issuance has not been registered under the
Securities Act or any state securities laws and referring to the above restrictions on transferability and sale. A notation will also be made in the records of the Company so that transfers of the Shares will not be effected in the records of the
Company without compliance with these restrictions. 
 (e) The execution of this Subscription Agreement will not violate,
conflict with, or result in a breach of any provision of the Investor’s organizational or governing documents. 
 (f) No
consents, approvals, permits, orders, authorizations of, exemptions, reviews or waivers by, or notices, reports, filings, declarations or registrations with, any federal, state or local court, governmental, legislative, judicial, administrative
authority, regulatory authority, taxing authority, agency, commission, body or other governmental entity or self-regulatory organization or with any third party are required to be made or obtained in connection with the execution of this
Subscription Agreement by the Investor. 
 (g) The Investor acknowledges that an investment in the Shares is speculative and
involves a high degree of risk, including the loss of the Investor’s entire investment in the Shares. 
 4. The Investor
acknowledges that the Information is confidential, and the Investor agrees that all such Information shall be kept in confidence by the Investor; provided, that this obligation shall not apply to any such Information that (i) is part of
the public knowledge or literature and readily accessible at the date hereof; (ii) becomes part of the public knowledge or literature and readily accessible by publication (except as a result of a breach of this provision); or (iii) is
received from a third party (except a third party who discloses such Information in violation of any confidentiality agreement). Further, this obligation does not prohibit the Investor from discussing such Information with its counsel, accountants,
or other financial advisers solely for the purpose of assisting the Investor in analyzing and accessing such Information and an investment in the Shares. 
 5. The Investor acknowledges that the Company and its officers, directors, employees, agents, and affiliates are relying on the truth and accuracy of the foregoing representations and warranties in
offering Shares for sale to the Investor without having first registered the issuance of the Shares under the Securities Act. The Investor also understands the meaning and legal consequences of the representations and warranties in this Subscription
Agreement, and the Investor agrees to indemnify and hold harmless the Company and each of its officers, managers, directors, affiliates, agents, and employees from and against any and all loss, damage or liability, including costs and expenses
(including reasonable attorneys’ fees), due to or arising out 

  
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of a breach or an alleged breach of any such representations or warranties or any failure to fulfill any covenants or agreements contained in this Subscription Agreement. All representations,
warranties, and covenants contained in this Subscription Agreement and the indemnification contained in this Paragraph 5 shall survive the acceptance of this Subscription Agreement and the sale of the Shares. The Investor acknowledges that this
Subscription Agreement will not be deemed to be accepted until it is signed by the Company and returned to the Investor. Notwithstanding the foregoing, however, no representation, warranty, acknowledgement, or agreement made herein by the
undersigned shall in any manner be deemed to constitute a waiver of any substantive rights granted to the Investor under federal or state securities laws. 
 6. The Investor acknowledges that this Subscription Agreement and the Information has been prepared and approved solely by the Company. The Investor understands that Nelson Mullins Riley &
Scarborough LLP has assisted the Company in the preparation of this Subscription Agreement but has not conducted due diligence nor confirmed the contents or disclosures in this Subscription Agreement. The Investor understands that the Investor is
solely responsible for its own due diligence investigation and that Nelson Mullins Riley & Scarborough LLP has represented the Company in this matter and does not represent the Investor and does not make any representations to the Investor
regarding this Subscription Agreement or any investment in the Company. 
 7. This Subscription Agreement constitutes the entire
agreement between the parties hereto with respect to the subject matter hereof and may be amended or modified only by a writing executed by the party to be bound thereby. This Subscription Agreement may be executed in multiple counterparts, each of
which shall constitute an original, but all of which shall constitute but one and the same instrument. This Subscription Agreement may be executed and delivered by facsimile transmission, which will constitute the legal delivery hereof. This
Subscription Agreement shall be governed by and construed in accordance with the laws of the State of South Carolina. 
 8.
Correspondence addressed to the Investor should be sent to the address listed below until such time as the Investor shall notify the Company, in writing, of a different address to which such correspondence and notices are to be sent. 

9. The Investor acknowledges that this Subscription Agreement is a subscription to purchase Shares in the aggregate amount of up to the
amount set forth below. 
 *    *    *    *    *

  
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 SIGNATURE PAGE TO 

THE SUBSCRIPTION AGREEMENT WITH 
 PALMETTO BANCSHARES, INC. 
 IN WITNESS WHEREOF, the Investor has
executed this Subscription Agreement as of the date set forth below: 
  

			
	Signature:	 	  

			
	Print name of entity investing:	 	
	Include applicable title, if executing on behalf of an entity:	 	

			
		
	Address:	 	  

			
		
	Phone Number:	 	  

			
		
	E-mail Address:	 	  

			
		
	S.S. # or EIN:	 	  

			
		
	No. of Common Shares Currently Owned:	 	  

			
		
	No. of Common Shares Subscribed For**:	 	  

			
		
	Aggregate Purchase Price:	 	  

			
		
	Date:	 	  

			
		
	Accepted:	 	    PALMETTO BANCSHARES, INC.

			
		
	By:	 	  

			
		
	Name and Title:	 	  

			
		
	Date:                    	 	No. of Common Shares Accepted:
                                         
                                         
                                      

  

	**	If the Investor does not wish for its ownership in the Company to exceed a certain percentage, the Investor may indicate such percentage here, and the number of Shares
subscribed for and the aggregate purchase price will be adjusted accordingly by the Company. 

  
 4Letter Agreement between the Company and Neil B. Friedman

 Exhibit 10.1 

 

 

  
  

January 28, 2011 
 Neil B.
Friedman 
 c/o Mattel, Inc. 
 333
Continental Boulevard 
 El Segundo, California 90245-5012 
 Dear Neil, 
 This letter (this “Letter Agreement”) memorializes
our discussions with respect to your upcoming separation of employment (the “Separation”) with Mattel, Inc. (the “Company”) on March 25, 2011 (the “Termination Date”), including with respect to your
employment through the Termination Date and with respect to the application of certain terms of the Executive Employment Agreement dated January 31, 2000 between you and the Company, as amended (the “Employment Agreement”) to the
Separation. 
 Service Through The Termination Date. From the date hereof through the Termination Date, you shall be
employed by the Company as an Executive Advisor, reporting to the Company’s Chief Executive Officer, with such duties as shall reasonably be requested of you by the Chief Executive Officer or his designee. 

Severance Benefits. For purposes of the Employment Agreement, the Separation is a termination by you for Good Reason (as defined
in the Employment Agreement) pursuant to Section 4(c) thereof. In connection with the Separation, you will be entitled to the severance payments and benefits set forth in Section 5(d) of the Employment Agreement, subject to your execution following
the Termination Date of the release (the “Release”) set forth as Exhibit A to the Employment Agreement (and the Release becoming irrevocable within 55 days of the Date of Termination). You and the Company agree to, and acknowledge,
the following: 
  

	 	•	 	 The payment to you under Section 5(d)(i)(C) of the Employment Agreement shall equal $7,886,250. 

 

	 	•	 	 You will receive no payment or benefit under Sections 5(d)(i)(B), 5(d)(ii), and 5(d)(v)(E) of the Employment Agreement, and you waive any and all
rights you may have under such sections. 

  

	 	•	 	 You will receive the health, outplacement and financial counseling and tax preparation services benefits set forth in Sections 5(d)(v)(A-C) of the
Employment Agreement, the accelerated vesting of options set forth in Section 5(d)(iii) of the Employment Agreement, and the benefit of three additional years of service credit under the SERP set forth in Section

	 	 
5(d)(vi) of the Employment Agreement, all in accordance with the terms of such Sections. 

  

	 	•	 	 The Company will, in full satisfaction of its obligations under Section 5(d)(v)(D) of the Employment Agreement, make you payments of $2,000 per month
from the Termination Date through the earlier of (x) the third anniversary of the Termination Date or (y) the date you become gainfully employed in a substantially similar employment position to your position at the Company.

  

	 	•	 	 The final paragraph of Section 5(d) of the Employment Agreement shall not apply in connection with the Separation. 

Covenants. You agree that you will not make or cause to be made any statements that disparage, are inimical to, or damage
the reputation of the Company or any of its past or present affiliates, subsidiaries, agents, officers, directors or employees to anyone, provided that this sentence shall not be deemed to prohibit the making of truthful statements as may be
required by law or subpoena (provided that you will notify the Company if so required). 
 You agree to cooperate truthfully and
fully with the Company in connection with any and all existing or future investigations relating to the Company or any of its subsidiaries or affiliates involving events that occurred during your employment with the Company. In addition, you agree
to cooperate truthfully and fully with the Company or any of its subsidiaries or affiliates in connection with any claim or litigation brought by or against the Company, including making yourself reasonably available to testify and/or reasonably
available to the Company’s counsel for interviews and/or declarations as necessary. You further agree to notify the Company immediately if you are subpoenaed or asked to appear as a witness in any matter related to the Company or one of its
subsidiaries or affiliates. 
 Resignation From All Positions. You hereby resign, effective as of the Termination Date,
from any and all positions you occupy as a director or officer of the Company or of any direct or indirect subsidiary of the Company. 
 Employment Agreement. Except as modified above, the Employment Agreement remains in full effect, provided that you acknowledge and agree that you will not have any rights under Section 3 thereof
with respect to short-term or long-term incentive program cycles commencing after December 31, 2010 and that you have no right to terminate employment for Good Reason (as defined in the Employment Agreement) prior to the Termination Date. The
Employment Period (as defined in the Employment Agreement) shall terminate as of the Termination Date, and the Termination Date shall be the “Date of Termination” for all purposes of the Employment Agreement. 

Full Agreement. This Letter Agreement, the Employment Agreement, the Release and the 2004 Confirmation of Your Obligation to
Protect Mattel’s Proprietary Information and Confirmation of Your Employer’s Ownership of Intellectual Property (the “Confirmation Agreement”) or any agreement superseding the Confirmation Agreement (collectively, the
“Agreements”) constitute the full understanding of you and the Company with respect to the Separation. Without limiting the generality of the foregoing, you expressly 

  
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acknowledge and agree that except as specifically set forth in the Agreements, you are not entitled to receive any severance pay or benefits from the Company and its affiliates. 

Severability. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal,
unenforceable or void, this Agreement shall continue in full force and effect without said provision so long as the remaining provisions remain intelligible and continue to reflect the original intent of the parties. 

Governing Law. This letter shall be governed by and construed in accordance with the laws of the State of California, without
reference to principles of conflict of laws. The dispute resolution provisions of the Employment Agreement shall apply to this Letter Agreement. 
 Miscellaneous. This letter may be amended, modified or changed only by a written instrument executed by you and the Company. The captions of this letter are not part of the provisions hereof and
shall have no force or effect. This letter may be executed in counterparts, each of which shall be deemed to be an original and all of which together shall constitute one and the same instrument. 

 

			
	 Sincerely,
  

Mattel, Inc.

		
	By:	 	/s/ Alan Kaye
		 	 Alan Kaye,
 Senior Vice
President Human Resources

 Acknowledged and Agreed: 

 

			
	
		
		 	/s/ Neil B. Friedman
		 	Neil B. Friedman

  
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