Document:

Form of Indemnification Agreement for Officers and Directors

 Exhibit 10.1 
 INDEMNIFICATION AGREEMENT 
 This Indemnification Agreement is made to be effective as of
                    , by and between International Textile Group, Inc., a Delaware corporation (the “Indemnitor”), and
«First_Name» «Last_Name» (the “Indemnitee”), a director and/or officer of the Corporation and of one or more subsidiaries of the Corporation, (the Corporation, and any such subsidiaries collectively referred to as
the “Corporations”). 
 RECITALS: 
 A. It is essential that each Corporation be able to retain and attract as directors and officers the most capable persons available. 
 B. The substantial increase in corporate litigation and other investigative, regulatory and enforcement actions subjects directors and officers to expensive risks at the same time that the availability of
directors’ and officers’ liability insurance has been severely limited. 
 C. Article VIII of the Corporation’s Second Amended
and Restated Certificate of Incorporation (as heretofore amended, the “Certificate of Incorporation”) provides that each person who serves as a director or officer of the Corporation or of any of its subsidiaries shall be indemnified by
the Corporation to the fullest extent permitted or required by the General Corporation Law of the State of Delaware (the “DGCL”), and it is now and has been the express policy of the Indemnitor to indemnify the directors and officers of
the Corporation and of its subsidiaries. 
 D. Article VIII of the Certificate of Incorporation of the Corporation provides for
indemnification and advancement of expenses by Corporation of the officers and directors of the Corporation and its subsidiaries. Such officers and directors may also be entitled to indemnification pursuant to applicable provisions of the DGCL or
other applicable law. The indemnification and advancement provisions set forth therein are not exclusive, and contracts may be entered into between the Corporation and its officers and directors with respect to indemnification. 
 E. The Corporation has previously authorized and entered into agreements setting forth the rights to indemnification and advancement of expenses with its
directors and officers, and has sought to ensure that the indemnification provided by the Corporation was available to the fullest extent permitted by the DGCL and other applicable law, as in effect from time to time. 
 F. The Indemnitee does not regard the protection available under the respective organizational documents of each Corporation and/or the directors’
and officers’ insurance available to the Indemnitee as adequate in the present circumstances, and may not be willing to serve or continue to serve as a director and/or officer without adequate protection. 
  

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 G. The Corporation desires that the Indemnitee serve, or continue to serve, as a director and/or officer
of each Corporation and in order to induce such service, the Corporation desires to provide the Indemnitee with the indemnification provided for hereunder. 
 NOW, THEREFORE, the Indemnitor and the Indemnitee do hereby agree as follows: 
 1. Agreement to Serve.
The Indemnitee agrees to serve or continue to serve, at the request of the Indemnitor, as a director and/or officer of the Corporations for so long as the Indemnitee is duly elected or appointed and qualified or until such earlier time as the
Indemnitee tenders a resignation in writing or is removed from office. This Agreement shall not be deemed an employment contract between any Corporation and Indemnitee. 
 2. Definitions. As used in this Agreement: 
 (a) The term “Proceeding” shall include any
threatened, pending or completed action, suit, audit, arbitration, alternative dispute resolution proceeding, investigation, inquiry, administrative hearing or other actual, threatened or completed proceeding, whether brought by or in the right of
the Indemnitor or any Corporation or otherwise and whether of a civil (including intentional or unintentional tort claims), criminal, administrative, investigative, regulatory or enforcement nature, including, without limitation, actions involving
the U.S. Securities and Exchange Commission, state securities commissions, the U.S. Department of Justice, the Federal Transportation Safety Board, the Internal Revenue Service and state and local taxing authorities, and any appeal therefrom.

 (b) The term “Corporate Status” shall mean the status of a person who is or was a director, officer, partner, employee, agent or
trustee of, or in a similar capacity with, the Indemnitor or a Corporation (including any predecessor entity thereto), or is or was serving, or has agreed to serve, at the request of the Indemnitor or a Corporation (including any predecessor entity
thereto), as a director, officer, partner, employee, agent or trustee of, or in a similar capacity with, another corporation, partnership, joint venture, trust, limited liability company or other enterprise. 
 (c) The term “Expenses” shall include, without limitation, attorneys’ fees and costs, retainers, court costs, transcript costs, fees and
expenses of experts, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and other disbursements and expenses incurred by or on behalf of the Indemnitee in connection with prosecuting,
defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding, but shall not include the amount of judgments, fines or penalties against Indemnitee or amounts paid in
settlement in connection with such matters. Expenses shall include Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation, the premium, security for and other costs relating to any cost bond,
supersede as bond or other appeal bond or its equivalent. 
 (d) The term “Independent Legal Counsel” shall mean a law firm or a
member of a law firm that is experienced in matters of corporation law and neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Indemnitor or Indemnitee in any matter material to either such party
or for which such law firm or member is or was entitled to be paid 

  

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more than $250,000 by any such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under
similar indemnification agreements); or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Legal Counsel” shall not include any person who,
under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Indemnitor or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 
 (e) References to “other enterprise” shall include employee benefit plans; references to “fines” shall include any excise tax
assessed with respect to any employee benefit plan; references to “serving at the request of the Indemnitor or a Corporation” shall include any service as a director, officer, partner, employee, agent or trustee of, or in a similar
capacity with, a Corporation which imposes duties on, or involves services by, such director, officer, partner, employee, agent or trustee with respect to an employee benefit plan or its participants or beneficiaries; and a person who acted in good
faith and in a manner such person reasonably believed to be in the interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of a Corporation”
as referred to in this Agreement. It is agreed that service as a director, officer, partner, employee, agent or trustee of a Corporation is “at the request of” the Indemnitor. 
 3. Indemnification in Third-Party Proceedings. The Indemnitor shall indemnify the Indemnitee in accordance with the provisions of this
Section 3 if the Indemnitee was or is a party to or is threatened to be made a party to or otherwise involved in any Proceeding (other than a Proceeding by or in the right of the Indemnitor or any Corporation to procure a judgment in its favor)
by reason of the Indemnitee’s Corporate Status or by reason of any action alleged to have been taken or omitted in connection therewith, against all Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (including,
without limitation, all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement) actually and reasonably incurred by or on
behalf of the Indemnitee in connection with such Proceeding or any claim, issue or matter therein, if the Indemnitee acted in good faith and in a manner which the Indemnitee reasonably believed to be in, or not opposed to, the best interests of the
Indemnitor or the relevant Corporation, as the case may be, and, with respect to any criminal Proceeding, had no reasonable cause to believe that his or her conduct was unlawful. The termination of any Proceeding by judgment, order, settlement,
conviction or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the Indemnitee did not act in good faith and in a manner which the Indemnitee reasonably believed to be in, or not opposed to, the best
interests of the Indemnitor or the relevant Corporation, as the case may be, and, with respect to any criminal Proceeding, had reasonable cause to believe that his or her conduct was unlawful. 
 4. Indemnification in Proceedings by or in the Right of a Corporation. The Indemnitor shall indemnify the Indemnitee in accordance with the
provisions of this Section 4 if the Indemnitee was or is a party to or is threatened to be made a party to or otherwise involved in any Proceeding by or in the right of the Indemnitor or any Corporation to procure a judgment in its favor by
reason of the Indemnitee’s Corporate Status or by reason of any action alleged to have been taken or omitted in connection therewith, against all Expenses and, to the extent permitted by law, amounts paid in settlement actually and reasonably
incurred by or on behalf of 

  

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the Indemnitee in connection with such Proceeding, if the Indemnitee acted in good faith and in a manner which the Indemnitee reasonably believed to be in,
or not opposed to, the best interests of the Indemnitor or a Corporation, as the case may be, except that no indemnification shall be made under this Section 4 to the extent that any claim, issue, or matter as to which the Indemnitee shall have
been adjudged to be liable to the Indemnitor or the relevant Corporation, as the case may be, unless, and only to the extent, that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought shall determine
upon application that, despite the adjudication of such liability but in view of all the circumstances of the case, the Indemnitee is fairly and reasonably entitled to indemnity for such Expenses as the Court of Chancery or such other court shall
deem proper. 
 5. Exceptions to Right of Indemnification. Notwithstanding anything to the contrary in this Agreement: (a) except
as set forth in Section 10, the Indemnitor shall not be required to indemnify the Indemnitee pursuant to this Agreement in connection with a Proceeding (or part thereof) initiated by the Indemnitee unless the initiation thereof was approved by
the Board of Directors of a Corporation; (b) the Indemnitor shall not indemnify the Indemnitee to the extent the Indemnitee has actually received the proceeds of insurance, and in the event the Indemnitor makes any indemnification payments to
the Indemnitee and the Indemnitee is subsequently reimbursed for such indemnification payments from the proceeds of insurance, the Indemnitee shall promptly refund such indemnification payments to the Indemnitor to the extent of such insurance
reimbursement; and (c) the Indemnitor shall not indemnify the Indemnitee hereunder to the extent that such indemnification is not lawful. 
 6. Indemnification of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, to the extent that the Indemnitee has been successful, on the merits or otherwise, in defense of any Proceeding or in defense
of any claim, issue or matter therein, the Indemnitee shall be indemnified against all Expenses incurred by or on behalf of the Indemnitee in connection with such Proceeding. Without limiting the foregoing, if any Proceeding or any claim, issue or
matter therein is disposed of, on the merits or otherwise (including a disposition without prejudice), without (a) an adjudication that the Indemnitee was liable to a Corporation, (b) a plea of guilty or nolo contendere by the Indemnitee,
(c) an adjudication that the Indemnitee did not act in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of a Corporation and (d) with respect to any criminal proceeding, an
adjudication that the Indemnitee had reasonable cause to believe his or her conduct was unlawful, the Indemnitee shall be considered for the purposes hereof to have been wholly successful with respect thereto. 
 7. Additional Indemnification and Contribution. 
 (a) Notwithstanding any limitation in Sections 3, 4, 5 or 6, the Indemnitor shall indemnify Indemnitee to the fullest extent permitted by applicable law if Indemnitee was or is a party to or is threatened to be made a
party to or otherwise involved in any Proceeding (including a Proceeding by or in the right of the Indemnitor or any Corporation to procure a judgment in its favor) by reason of the Indemnitee’s Corporate Status or by reason of any action
alleged to have been taken or omitted in connection therewith, against all Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement (including, without limitation, all interest assessments and other charges paid or payable
in connection with or in respect of such 

  

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Expenses, judgments, liabilities, fines, penalties and amounts paid in settlement) actually and reasonably incurred by or on behalf of the Indemnitee in
connection with the Proceeding or any claim, issue or matter therein. 
 (b) To the fullest extent permissible under applicable law, if the
indemnification and hold harmless rights provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Indemnitor, in lieu of indemnifying and holding harmless Indemnitee, shall pay, in the first
instance, the entire amount incurred by Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement or for Expenses, in connection with any Proceeding without requiring Indemnitee to contribute to such
payment, and the Indemnitor hereby waives and relinquishes any right of contribution it may have at any time against Indemnitee. 
 (c) The
Indemnitor shall not enter into any settlement of any Proceeding in which the Indemnitor is jointly liable with Indemnitee (or would be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted
against Indemnitee. 
 (d) The Indemnitor hereby agrees to fully indemnify and hold harmless Indemnitee from any claims for contribution
which may be brought by officers, directors or employees of the Indemnitor who may be jointly liable with Indemnitee. 
 (e) For purposes of
Section 7, the meaning of the phrase “to the fullest extent permitted by applicable law” shall include, but not be limited to: 
 (i) to the fullest extent permitted by the provision of the DGCL that authorizes or contemplates additional indemnification by agreement, or the corresponding provision of any amendment to or replacement of the DGCL
or other applicable statute, and 
 (ii) to the fullest extent authorized or permitted by any amendments to or replacements of
the DGCL or other applicable statute adopted after the date of this Agreement that increase the extent to which a corporation or other entity may indemnify its officers and directors. 
 8. Notification and Defense of Claim. The Indemnitee shall notify the Indemnitor in writing as soon as practicable upon being served with any
summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding that may be subject to indemnification or advancement of Expenses covered hereunder; provided, however, that the failure to
provide such notice to the Indemnitor shall not relieve the Indemnitor of any liability or obligation which it may have to the Indemnitee under this Agreement or otherwise. With respect to any Proceeding of which the Indemnitor is so notified, the
Indemnitor will be entitled to participate therein at its own expense and/or to assume the defense thereof at its own expense, with legal counsel reasonably acceptable to the Indemnitee. After notice from the Indemnitor to the Indemnitee of its
election so to assume such defense, the Indemnitor shall not be liable to the Indemnitee for any legal or other expenses subsequently incurred by the Indemnitee in connection with such Proceeding, other than as provided below in this Section 8.

  

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The Indemnitee shall have the right to employ his or her own counsel in connection with such Proceeding, but the fees and expenses of such counsel incurred
after notice from the Indemnitor of its assumption of the defense thereof shall be at the expense of the Indemnitee unless (a) the employment of counsel by the Indemnitee has been authorized by the Indemnitor, (b) counsel to the Indemnitee
shall have reasonably concluded that there may be a conflict of interest or position on any issue between the Indemnitor and the Indemnitee in the conduct of the defense of such Proceeding, (c) the Indemnitor shall not in fact have employed
counsel to assume the defense of such Proceeding or (d) the Indemnitor has not unconditionally acknowledged and agreed, in writing, that it has an indemnification obligation to the Indemnitee under this Agreement, in each of which cases the
fees and expenses of counsel for the Indemnitee shall be at the expense of the Indemnitor, except as otherwise expressly provided by this Agreement. The Indemnitor shall not be entitled, without the consent of the Indemnitee, to assume the defense
of any claim brought by or in the right of the Indemnitor or as to which counsel for the Indemnitee shall have reasonably made the conclusion provided for in clause (b) above. The Indemnitor shall not be required to indemnify the Indemnitee
under this Agreement for any amounts paid in settlement of any Proceeding effected without its written consent. The Indemnitor shall not settle any Proceeding in any manner which would impose any Expense, judgment, fine, penalty or limitation on the
Indemnitee without the Indemnitee’s written consent. Neither the Indemnitor nor the Indemnitee will unreasonably withhold or delay their consent to any proposed settlement. 
 9. Advancement of Expenses. Notwithstanding any provision of this Agreement to the contrary, and to the fullest extent not prohibited by
applicable law, the Indemnitor shall advance the Expenses incurred by Indemnitee (or reasonably expected by Indemnitee to be incurred by Indemnitee within three (3) months) in connection with any Proceeding within ten (10) days after the
receipt by the Indemnitor of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of any Proceeding; provided, however, that the payment of such Expenses incurred by or on
behalf of the Indemnitee in advance of the final disposition of such Proceeding shall be made only upon receipt of an undertaking by or on behalf of the Indemnitee to repay all amounts so advanced in the event that it shall ultimately be determined
that the Indemnitee is not entitled to be indemnified by the Indemnitor under this Agreement. Indemnitee’s execution and delivery of this Agreement shall constitute such undertaking, and such undertaking shall be accepted without reference to
the financial ability of the Indemnitee and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement. Advances shall include any and all Expenses incurred pursuing a Proceeding to
enforce this right of advancement or any other right hereunder, including Expenses incurred preparing and forwarding statements to the Indemnitor to support the advances claimed. Any such advances shall be unsecured and interest free. 
 10. Procedure for Indemnification. 
 (a) In order to obtain indemnification or advancement of Expenses pursuant to Sections 3, 4, 6, 7 or 9 of this Agreement, the Indemnitee may submit to the Corporation a written request. Such application(s) may be delivered from time to time
and at such time(s) as Indemnitee deems appropriate in Indemnitee’s sole discretion. Following such a written 

  

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application for indemnification by Indemnitee, the Indemnitee’s entitlement to indemnification shall be determined according to Section 11(b) of
this Agreement. 
 (b) Any indemnification pursuant to this Agreement shall be made promptly by Indemnitor, and in any event within thirty
(30) days after receipt by the Indemnitor of the written request of the Indemnitee, unless with respect to requests for indemnification under Section 3 or 4 the Indemnitor determines within such 30-day period that the Indemnitee did not
meet the applicable standard of conduct set forth in Section 3 or 4, as the case may be. Such determination, and any determination that advanced Expenses must be repaid to the Indemnitor due to the Indemnitee’s failure to meet the
applicable standard of conduct set forth in Section 3 or 4, to the extent required by applicable law, shall be made in each instance (i) by a majority vote of the directors of the Indemnitor consisting of persons who are not at that time
parties to the Proceeding (“disinterested directors”), whether or not a quorum, (ii) by a majority vote of a committee of disinterested directors designated by a majority vote of disinterested directors, whether or not a quorum or
(iii) if there are no disinterested directors, or if the disinterested directors so direct, by Independent Legal Counsel in a written opinion; provided, however, that following any Change in Control (as defined below) the
Indemnitee shall have the right, by notice to the Indemnitor, to require that any such determination, and any determination that advanced Expenses must be repaid to the Indemnitor, shall be made only by Independent Legal Counsel selected by the
Indemnitee and approved by the Indemnitor (which approval shall not be unreasonably withheld). To the extent a determination is to be made by Independent Legal Counsel, such counsel shall render its written opinion to the Indemnitor and the
Indemnitee as to whether and to what extent the Indemnitee is permitted to be indemnified or have expenses advanced hereunder and/or under applicable law and the Indemnitor agrees to abide by such opinion. The Indemnitor agrees to pay the reasonable
fees of the Independent Legal Counsel and to indemnify such counsel against any and all expenses (including reasonable attorneys fees), claims, liabilities and damages arising out of or relating to its engagement pursuant hereto. 
 For purposes of this Agreement, a “Change in Control” shall mean: 
 (i) the acquisition by an individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”)) (a “Person”), of beneficial ownership of any capital stock of the Indemnitor if, after such acquisition, such Person beneficially owns (within the meaning of Rule 13d-3 promulgated
under the Exchange Act) 50% or more of either (i) the then-outstanding shares of common stock of the Indemnitor (the “Common Stock”) or (ii) the combined voting power of the then-outstanding securities of the Indemnitor entitled
to vote generally in the election of directors (the “Voting Securities”); provided, however, that the following acquisitions shall not constitute a Change in Control: (i) any acquisition of Common Stock or Voting
Securities directly from the Indemnitor (excluding an acquisition pursuant to the exercise, conversion or exchange of any security exercisable for, convertible into or exchangeable for common stock or voting securities of the Indemnitor, unless the
Person exercising, converting or exchanging such security acquired such security directly from the Indemnitor or an underwriter or agent of the Indemnitor), (ii) any acquisition by the Indemnitor or any employee benefit plan (or related trust)
sponsored or maintained by the Indemnitor or any corporation controlled by the Indemnitor or (iii) any acquisition by any corporation pursuant to a Merger Combination (as defined below) that meets the Ownership Requirement (as defined below);
or 
  

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 (ii) individuals who, as of the date hereof, constitute the members of the
Indemnitor’s Board of Directors (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the Indemnitor’s Board of Directors (or, if applicable, the Board of Directors of a successor corporation to
the Indemnitor); provided, however, that any individual becoming a director of the Indemnitor subsequent to the date hereof who was nominated or elected by at least a majority of the Incumbent Directors at the time of such nomination
or election or whose election to the Indemnitor’s Board of Directors was recommended or endorsed by at least a majority of the directors who were the Incumbent Directors at the time of such nomination or election shall be deemed to be the
Incumbent Directors (except that this proviso shall not apply to any individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or
threatened solicitation of proxies or consents by or on behalf of a Person other than the Indemnitor’s Board of Directors); or 
 (iii) the consummation of a merger, consolidation, reorganization, recapitalization or share exchange involving the Indemnitor or a sale or other disposition of all or substantially all of the assets of the Indemnitor (a “Merger
Combination”), unless immediately following such Merger Combination, all or substantially all of the individuals and entities who were the beneficial owners of Common Stock and Voting Securities immediately prior to such Merger Combination
beneficially own, directly or indirectly, more than 50% of the shares of common stock and the combined voting power of the securities entitled to vote generally in the election of directors, respectively, of the resulting or acquiring corporation in
such Merger Combination (which shall include, without limitation, a corporation which as a result of such transaction owns the Indemnitor or substantially all of the Indemnitor’s assets either directly or through one or more subsidiaries) in
substantially the same proportions as their ownership, immediately prior to such Merger Combination (the “Ownership Requirement”); or 
 (iv) approval by the stockholders of the Indemnitor of a complete liquidation or dissolution of the Indemnitor. 
 11. Remedies. Notwithstanding anything to the contrary set forth herein, the right to indemnification, contribution or advancement of Expenses as provided by this Agreement shall be enforceable by the Indemnitee in any court of
competent jurisdiction. Unless otherwise required by law, the burden of proving that indemnification or advancement of Expenses is not appropriate shall be on the Indemnitor. The Indemnitee’s expenses (of the type described in the definition of
“Expenses” in Section 2(c)) reasonably incurred in connection with successfully establishing the Indemnitee’s right to indemnification, contribution or advancement of Expenses in whole or in part, in any such Proceeding shall
also be indemnified by the Indemnitor. 
  

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 12. Presumption of Entitlement. 
 (a) In making any standard of conduct determination, the person or persons making such determination shall presume that the Indemnitee has satisfied the
applicable standard of conduct, and that the Indemnitor may overcome such presumption only by its adducing clear and convincing evidence to the contrary. Any standard of conduct determination that is adverse to the Indemnitee may be challenged by
the Indemnitee in the Court of Chancery of the State of Delaware. No determination by the Indemnitor (including by its directors or any independent counsel) that the Indemnitee has not satisfied any applicable standard of conduct shall be a defense
to any claim by the Indemnitee for indemnification or reimbursement or advance payment of Expenses by the Indemnitor hereunder or create a presumption that the Indemnitee has not met any applicable standard of conduct. 
 (b) If the person or persons empowered or selected under Section 10 of this Agreement to determine whether Indemnitee is entitled to indemnification
shall not have made a determination within thirty (30) days after receipt by the Indemnitor of the request therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be
entitled to such indemnification, absent a final judicial determination that either (i) Indemnitee misstated a material fact, or omitted a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with
the request for indemnification, or (ii) any or all such indemnification is expressly prohibited under applicable law; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an additional
twenty (20) days, if the person or persons making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto.

 (c) For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is
based on the records or books of account of the Indemnitor, including financial statements, or on information supplied to Indemnitee by the officers of the Indemnitor in the course of their duties, or on the advice of legal counsel for the
Indemnitor or on information or records given or reports made to the Indemnitor by an independent certified public accountant or by an appraiser or other expert selected by the Indemnitor. The provisions of this Section 12(c) shall not be
deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed or found to have met the applicable standard of conduct set forth in this Agreement. 
 (d) The knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, managing member, fiduciary, agent or employee of
the Indemnitor or any Corporation shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. 
 13. Partial Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Indemnitor for some or a portion of the Expenses, judgments, fines, penalties or amounts paid in settlement
actually and reasonably incurred by or on behalf of the Indemnitee in connection with any Proceeding but not, however, for the total amount thereof, the Indemnitor shall nevertheless indemnify the Indemnitee for the portion of such Expenses,
judgments, liabilities, fines, penalties or amounts paid in settlement to which the Indemnitee is entitled. 
  

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 14. Subrogation. In the event of any payment under this Agreement, the Indemnitor shall be
subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable
the Indemnitor to bring suit to enforce such rights. 
 15. Term of Agreement. This Agreement shall continue in effect indefinitely
regardless of when or if the Indemnitee shall cease to serve as a director or officer of a Corporation or, at the request of the Indemnitor or a Corporation, as a director, officer, partner, employee, agent or trustee of, or in a similar capacity
with, another corporation, partnership, joint venture, trust, limited liability company or other enterprise. 
 16. Indemnification
Hereunder Not Exclusive. The indemnification, contribution and advancement of Expenses provided by this Agreement shall not be deemed exclusive of any other rights to which the Indemnitee may be entitled under the certificate of incorporation or
by-laws of the Indemnitor or the organizational documents of any Corporation, any other agreement, any vote of stockholders or disinterested directors, the DGCL, any other law (common or statutory), or otherwise, both as to action in the
Indemnitee’s official capacity and as to action in another capacity while holding office for a Corporation. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under
this Agreement in respect of any action taken or omitted by such Indemnitee prior to such amendment, alteration or repeal. To the extent that a change in applicable law, whether by statute or judicial decision, permits greater indemnification or
advancement of Expenses than would be afforded currently under this Agreement, the certificate of incorporation or by-laws of the Indemnitor or any Corporation or any other agreement, it is the intent of the parties hereto that Indemnitee shall
enjoy by this Agreement the greater benefits so afforded by such change. Nothing contained in this Agreement shall be deemed to prohibit the Indemnitor or any Corporation from purchasing and maintaining insurance, at its expense, to protect itself
or the Indemnitee against any expense, liability or loss incurred by it or the Indemnitee in any such capacity, or arising out of the Indemnitee’s status as such, whether or not the Indemnitee would be indemnified against such expense,
liability or loss under this Agreement. 
 17. No Special Rights. Nothing herein shall confer upon the Indemnitee any right to
continue to serve as an officer or director of a Corporation for any period of time or at any particular rate of compensation. 
 18.
Savings Clause. If this Agreement or any portion thereof shall be invalidated on any ground by any court of competent jurisdiction, then the Indemnitor shall nevertheless indemnify the Indemnitee as to Expenses, judgments, fines, penalties
and amounts paid in settlement with respect to any Proceeding to the full extent permitted by any applicable portion of this Agreement that shall not have been invalidated and to the fullest extent permitted by applicable law. 
 19. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of it shall
together constitute one and the same instrument. 
  

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 20. Successors and Assigns. This Agreement shall be binding upon the Indemnitor and its successors
and assigns and shall inure to the benefit of the estate, heirs, executors, administrators and personal representatives of the Indemnitee. The Indemnitor shall require and cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) in any Change of Control, by written agreement in form and substance satisfactory to the Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would
be required to perform if no such succession had taken place. 
 21. Headings. The headings of the paragraphs or sections of this
Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 
 22. Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by each of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed
or shall constitute a waiver of any other provision hereof nor shall any such waiver constitute a continuing waiver. 
 23. Notices.
All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been given (a) when delivered by hand, (b) if mailed by certified or registered mail with postage prepaid (return receipt
requested), on the third day after the date on which it is so mailed, (c) one business day after delivery to a nationally recognized overnight courier service for next day delivery or (d) the date when sent by facsimile (with confirmation
of receipt): 
 (a) if to the Indemnitee, to: 
 «Title» «First_Name» «Last_Name» 
 804 Green Valley Road 
 Suite 300 
 Greensboro, NC 27408 

(b) if to the Indemnitor, to: 
 International Textile Group, Inc. 
 804 Green Valley Road, Suite 300 
 Greensboro, N.C. 27408 
 Attention: General
Counsel 
 Facsimile: (336) 379-6972 
 or
to such other address or facsimile number as may have been furnished to the Indemnitee by the Indemnitor or to the Indemnitor by the Indemnitee, as the case may be. 
 24. Applicable Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware. The Indemnitee may elect to have the right to indemnification or
reimbursement or advancement of Expenses interpreted on the basis of the applicable law in effect at the time of the occurrence of the event or events giving 

  

 11 

 
rise to the applicable Proceeding, to the extent permitted by law, or on the basis of the applicable law in effect at the time such indemnification or
reimbursement or advancement of Expenses is sought. Such election shall be made, by a notice in writing to the Indemnitor, at the time indemnification or reimbursement or advancement of Expenses is sought; provided, however, that if no
such notice is given, and if the DGCL or other applicable statute is amended, or other law is enacted, to permit further indemnification of the directors and officers, then the Indemnitee shall be indemnified to the fullest extent permitted under
the DGCL or such other applicable statute, as so amended, or by such other law, as so enacted. 
 25. Enforcement. The Indemnitor
expressly confirms and agrees that it has entered into this Agreement in order to induce the Indemnitee to continue to serve as an officer or director of the Corporations, acknowledges that the Indemnitee is relying upon this Agreement in continuing
in such capacity and that its obligations hereunder are joint and several. 
 26. Entire Agreement. This Agreement sets forth the
entire agreement of the parties hereto in respect of the subject matter contained herein and supercedes all prior agreements, whether oral or written, by any officer, employee or representative of any party hereto in respect of the subject matter
contained herein; and any prior agreement of the parties hereto in respect of the subject matter contained herein is hereby terminated and cancelled. For avoidance of doubt, the parties confirm that the foregoing does not apply to or limit the
Indemnitee’s rights under Delaware law or the certificate of incorporation or by-laws of the Indemnitor or any Corporation. 
 27.
Consent to Suit. The Indemnitor and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Court of Chancery of the
State of Delaware and not in any other state or federal court in the United States of America or any court in any other country; (b) consent to submit to the exclusive jurisdiction of the Court of Chancery of the State of Delaware for purposes
of any action or proceeding arising out of or in connection with this Agreement; (c) waive any objection to the laying of venue of any such action or proceeding in the Court of Chancery of the State of Delaware; and (d) waive, and agree
not to plead or to make, any claim that any such action or proceeding brought in the Court of Chancery of the State of Delaware has been brought in an improper or inconvenient forum, or is subject (in whole or in part) to a jury trial.
Notwithstanding the foregoing, any judgment entered against either of the parties in any proceeding hereunder may be entered and enforced by any court of competent jurisdiction. The Indemnitor shall be precluded from asserting in any judicial
proceeding commenced against Indemnitee that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Indemnitor is bound by all the provisions of this Agreement.

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 12 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and
year first above written. 
  

			
	INTERNATIONAL TEXTILE GROUP, INC.
		
	By:	 	 
	Name:	 	Joseph L. Gorga
	Title:	 	President and CEO
	
	INDEMNITEE:
	
	  

	«First_Name» «Last_Name»

  

 13Exhibit 4.1

 Exhibit 4.1 
 CERTIFICATE OF DESIGNATIONS 
 OF 
 FIXED RATE CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES A 
 OF 

COMMUNITY FINANCIAL SHARES, INC. 
 WHEREAS, pursuant to an amendment to the Certificate of Incorporation (the “Certificate”) of Community Financial Shares, Inc. (the “Issuer”), 1,000,000 shares of serial preferred stock, with $1.00
par value per share (the “Preferred Stock”), are authorized for issuance by the Issuer; and 
 WHEREAS, in and by
Article FOURTH of the Certificate, the Board of Directors of the Issuer, pursuant to Section 151 of Chapter 8 of the Delaware Code, is expressly authorized, by resolution or resolutions from time to time adopted, to provide for the issuance of
Preferred Stock in series and to fix and state the powers, designations, preferences, and relative, participating, optional or other special rights of the shares of such series, and the qualifications, limitations or restrictions thereof; and

 WHEREAS, the Board of Directors of the Issuer (the “Board of Directors”) or an applicable committee of the Board of
Directors, in accordance with the Certificate and bylaws of the Issuer and applicable law, adopted the following resolution creating a series of 6,970 shares of Preferred Stock of the Issuer designated as “Fixed Rate Cumulative Perpetual
Preferred Stock, Series A.” 
 RESOLVED, that pursuant to the provisions of the Certificate and the bylaws of the Issuer and
applicable law, a series of Preferred Stock, par value $1.00 per share, of the Issuer be and hereby is created, and that the designation and number of shares of such series, and the voting and other powers, preferences and relative, participating,
optional or other rights, and the qualifications, limitations and restrictions thereof, of the shares of such series, are as follows: 
 Part
1. Designation and Number of Shares. There is hereby created out of the authorized and unissued shares of preferred stock of the Issuer a series of preferred stock designated as the “Fixed Rate Cumulative Perpetual Preferred Stock,
Series A” (the “Designated Preferred Stock”). The authorized number of shares of Designated Preferred Stock shall be 6,970. 
 Part 2. Standard Provisions. The Standard Provisions contained in Schedule A attached hereto are incorporated herein by reference in their entirety and shall be deemed to be a part of this Certificate of Designations to the
same extent as if such provisions had been set forth in full herein. 
 Part. 3. Definitions. The following terms are used in this
Certificate of Designations (including the Standard Provisions in Schedule A hereto) as defined below: 
 (a) “Common Stock”
means the common stock, par value $1.00 per share, of the Issuer. 
  

					
	UST Sequence No. 970	 	1	 	

 (b) “Dividend Payment Date” means
February 15, May 15, August 15 and November 15 of each year. 
 (c) “Junior Stock” means the
Common Stock, and any other class or series of stock of the Issuer the terms of which expressly provide that it ranks junior to Designated Preferred Stock as to dividend rights and/or as to rights on liquidation, dissolution or winding up of the
Issuer. 
 (d) “Liquidation Amount” means $1,000 per share of Designated Preferred Stock. 
 (e) “Minimum Amount” means $1,742,500. 
 (f) “Parity Stock” means any class or series of stock of the Issuer (other than Designated Preferred Stock) the terms of which do not expressly provide that such class or series will rank senior or
junior to Designated Preferred Stock as to dividend rights and/or as to rights on liquidation, dissolution or winding up of the Issuer (in each case without regard to whether dividends accrue cumulatively or non-cumulatively). 
 (g) “Signing Date” means the Original Issue Date. 
 Part. 4. Certain Voting Matters. Holders of shares of Designated Preferred Stock will be entitled to one vote for each such share on any matter on which holders of Designated Preferred Stock are entitled to
vote, including any action by written consent. 
 [Remainder of Page Intentionally Left Blank] 
  

					
	UST Sequence No. 970	 	2	 	

 IN WITNESS WHEREOF, this instrument has been
executed and acknowledged for the Issuer by Scott W. Hamer, its President and Chief Executive Officer, and attested to by its Corporate Secretary, Christopher P. Barton, on the 14th day of May 2009. 
  

			
	COMMUNITY FINANCIAL SHARES, INC.
		
	By:	 	 /s/ Scott W. Hamer

		 	Scott W. Hamer
		 	President and Chief Executive Officer

  

	
	ATTEST:
	
	 /s/ Christopher P. Barton

	Christopher P. Barton
	Corporate Secretary

  

					
	UST Sequence No. 970	 	3	 	

 Schedule A 
 STANDARD PROVISIONS 
 Section 1. General Matters. Each share of Designated
Preferred Stock shall be identical in all respects to every other share of Designated Preferred Stock. The Designated Preferred Stock shall be perpetual, subject to the provisions of Section 5 of these Standard Provisions that form a part of
the Certificate of Designations. The Designated Preferred Stock shall rank equally with Parity Stock and shall rank senior to Junior Stock with respect to the payment of dividends and the distribution of assets in the event of any dissolution,
liquidation or winding up of the Issuer. 
 Section 2. Standard Definitions. As used herein with respect to Designated Preferred
Stock: 
 (a) “Applicable Dividend Rate” means (i) during the period from the Original Issue Date to, but excluding, the
first day of the first Dividend Period commencing on or after the fifth anniversary of the Original Issue Date, 5% per annum and (ii) from and after the first day of the first Dividend Period commencing on or after the fifth anniversary of
the Original Issue Date, 9% per annum. 
 (b) “Appropriate Federal Banking Agency” means the “appropriate Federal
banking agency” with respect to the Issuer as defined in Section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(q)), or any successor provision. 
 (c) “Business Combination” means a merger, consolidation, statutory share exchange or similar transaction that requires the approval of
the Issuer’s stockholders. 
 (d) “Business Day” means any day except Saturday, Sunday and any day on which banking
institutions in the State of New York generally are authorized or required by law or other governmental actions to close. 
 (e)
“Bylaws” means the bylaws of the Issuer, as they may be amended from time to time. 
 (f) “Certificate of
Designations” means the Certificate of Designations or comparable instrument relating to the Designated Preferred Stock, of which these Standard Provisions form a part, as it may be amended from time to time. 
 (g) “Charter” means the Issuer’s certificate or articles of incorporation, articles of association, or similar organizational
document. 
 (h) “Dividend Period” has the meaning set forth in Section 3(a). 
 (i) “Dividend Record Date” has the meaning set forth in Section 3(a). 
  

					
	UST Sequence No. 970	 	A-1	 	

 (j) “Liquidation Preference” has the meaning set forth in Section 4(a). 

(k) “Original Issue Date” means the date on which shares of Designated Preferred Stock are first issued. 
 (l) “Preferred Director” has the meaning set forth in Section 7(b). 
 (m) “Preferred Stock” means any and all series of preferred stock of the Issuer, including the Designated Preferred Stock. 

(n) “Qualified Equity Offering” means the sale and issuance for cash by the Issuer to persons other than the Issuer or any of its
subsidiaries after the Original Issue Date of shares of perpetual Preferred Stock, Common Stock or any combination of such stock, that, in each case, qualify as and may be included in Tier 1 capital of the Issuer at the time of issuance under the
applicable risk-based capital guidelines of the Issuer’s Appropriate Federal Banking Agency (other than any such sales and issuances made pursuant to agreements or arrangements entered into, or pursuant to financing plans which were publicly
announced, on or prior to November 17, 2008). 
 (o) “Standard Provisions” mean these Standard Provisions that form a
part of the Certificate of Designations relating to the Designated Preferred Stock. 
 (p) “Successor Preferred Stock” has
the meaning set forth in Section 5(a). 
 (q) “Voting Parity Stock” means, with regard to any matter as to which the
holders of Designated Preferred Stock are entitled to vote as specified in Sections 7(a) and 7(b) of these Standard Provisions that form a part of the Certificate of Designations, any and all series of Parity Stock upon which like voting rights have
been conferred and are exercisable with respect to such matter. 
 Section 3. Dividends. 
 (a) Rate. Holders of Designated Preferred Stock shall be entitled to receive, on each share of Designated Preferred Stock if, as and when declared
by the Board of Directors or any duly authorized committee of the Board of Directors, but only out of assets legally available therefor, cumulative cash dividends with respect to each Dividend Period (as defined below) at a rate per annum equal to
the Applicable Dividend Rate on (i) the Liquidation Amount per share of Designated Preferred Stock and (ii) the amount of accrued and unpaid dividends for any prior Dividend Period on such share of Designated Preferred Stock, if any. Such
dividends shall begin to accrue and be cumulative from the Original Issue Date, shall compound on each subsequent Dividend Payment Date (i.e., no dividends shall accrue on other dividends unless and until the first Dividend Payment Date for
such other dividends has passed without such other dividends having been paid on such date) and shall be payable quarterly in arrears on each Dividend Payment Date, commencing with the first such Dividend Payment Date to occur at least 20 calendar
days after the Original Issue Date. In the event that any Dividend Payment Date would otherwise fall on a day that is not a Business Day, the dividend payment due on 

  

					
	UST Sequence No. 970	 	A-2	 	

 
that date will be postponed to the next day that is a Business Day and no additional dividends will accrue as a result of that postponement. The period from
and including any Dividend Payment Date to, but excluding, the next Dividend Payment Date is a “Dividend Period”, provided that the initial Dividend Period shall be the period from and including the Original Issue Date to, but
excluding, the next Dividend Payment Date. 
 Dividends that are payable on Designated Preferred Stock in respect of any Dividend Period
shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The amount of dividends payable on Designated Preferred Stock on any date prior to the end of a Dividend Period, and for the initial Dividend Period, shall be
computed on the basis of a 360-day year consisting of twelve 30-day months, and actual days elapsed over a 30-day month. 
 Dividends that
are payable on Designated Preferred Stock on any Dividend Payment Date will be payable to holders of record of Designated Preferred Stock as they appear on the stock register of the Issuer on the applicable record date, which shall be the 15th
calendar day immediately preceding such Dividend Payment Date or such other record date fixed by the Board of Directors or any duly authorized committee of the Board of Directors that is not more than 60 nor less than 10 days prior to such Dividend
Payment Date (each, a “Dividend Record Date”). Any such day that is a Dividend Record Date shall be a Dividend Record Date whether or not such day is a Business Day. 
 Holders of Designated Preferred Stock shall not be entitled to any dividends, whether payable in cash, securities or other property, other than dividends
(if any) declared and payable on Designated Preferred Stock as specified in this Section 3 (subject to the other provisions of the Certificate of Designations). 
 (b) Priority of Dividends. So long as any share of Designated Preferred Stock remains outstanding, no dividend or distribution shall be declared or paid on the Common Stock or any other shares of Junior Stock
(other than dividends payable solely in shares of Common Stock) or Parity Stock, subject to the immediately following paragraph in the case of Parity Stock, and no Common Stock, Junior Stock or Parity Stock shall be, directly or indirectly,
purchased, redeemed or otherwise acquired for consideration by the Issuer or any of its subsidiaries unless all accrued and unpaid dividends for all past Dividend Periods, including the latest completed Dividend Period (including, if applicable as
provided in Section 3(a) above, dividends on such amount), on all outstanding shares of Designated Preferred Stock have been or are contemporaneously declared and paid in full (or have been declared and a sum sufficient for the payment thereof
has been set aside for the benefit of the holders of shares of Designated Preferred Stock on the applicable record date). The foregoing limitation shall not apply to (i) redemptions, purchases or other acquisitions of shares of Common Stock or
other Junior Stock in connection with the administration of any employee benefit plan in the ordinary course of business and consistent with past practice; (ii) the acquisition by the Issuer or any of its subsidiaries of record ownership in
Junior Stock or Parity Stock for the beneficial ownership of any other persons (other than the Issuer or any of its subsidiaries), including as trustees or custodians; and (iii) the exchange or conversion of Junior Stock for or into other
Junior Stock or of Parity Stock for or into other Parity Stock (with the same or lesser aggregate liquidation amount) or Junior Stock, in each case, solely to the extent required pursuant to binding contractual agreements entered into prior to the
Signing Date or any subsequent agreement for the accelerated exercise, settlement or exchange thereof for Common Stock. 
  

					
	UST Sequence No. 970	 	A-3	 	

 When dividends are not paid (or declared and a sum sufficient for payment thereof set aside for the
benefit of the holders thereof on the applicable record date) on any Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates different from the Dividend Payment Dates, on a dividend payment date falling within a Dividend
Period related to such Dividend Payment Date) in full upon Designated Preferred Stock and any shares of Parity Stock, all dividends declared on Designated Preferred Stock and all such Parity Stock and payable on such Dividend Payment Date (or, in
the case of Parity Stock having dividend payment dates different from the Dividend Payment Dates, on a dividend payment date falling within the Dividend Period related to such Dividend Payment Date) shall be declared pro rata so that the
respective amounts of such dividends declared shall bear the same ratio to each other as all accrued and unpaid dividends per share on the shares of Designated Preferred Stock (including, if applicable as provided in Section 3(a) above,
dividends on such amount) and all Parity Stock payable on such Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates different from the Dividend Payment Dates, on a dividend payment date falling within the Dividend
Period related to such Dividend Payment Date) (subject to their having been declared by the Board of Directors or a duly authorized committee of the Board of Directors out of legally available funds and including, in the case of Parity Stock that
bears cumulative dividends, all accrued but unpaid dividends) bear to each other. If the Board of Directors or a duly authorized committee of the Board of Directors determines not to pay any dividend or a full dividend on a Dividend Payment Date,
the Issuer will provide written notice to the holders of Designated Preferred Stock prior to such Dividend Payment Date. 
 Subject to the
foregoing, and not otherwise, such dividends (payable in cash, securities or other property) as may be determined by the Board of Directors or any duly authorized committee of the Board of Directors may be declared and paid on any securities,
including Common Stock and other Junior Stock, from time to time out of any funds legally available for such payment, and holders of Designated Preferred Stock shall not be entitled to participate in any such dividends. 
 Section 4. Liquidation Rights. 
 (a) Voluntary or Involuntary Liquidation. In the event of any liquidation, dissolution or winding up of the affairs of the Issuer, whether voluntary or involuntary, holders of Designated Preferred Stock shall be entitled to receive
for each share of Designated Preferred Stock, out of the assets of the Issuer or proceeds thereof (whether capital or surplus) available for distribution to stockholders of the Issuer, subject to the rights of any creditors of the Issuer, before any
distribution of such assets or proceeds is made to or set aside for the holders of Common Stock and any other stock of the Issuer ranking junior to Designated Preferred Stock as to such distribution, payment in full in an amount equal to the sum of
(i) the Liquidation Amount per share and (ii) the amount of any accrued and unpaid dividends (including, if applicable as provided in Section 3(a) above, dividends on such amount), whether or not declared, to the date of payment (such
amounts collectively, the “Liquidation Preference”). 
  

					
	UST Sequence No. 970	 	A-4	 	

 (b) Partial Payment. If in any distribution described in Section 4(a) above the assets of the
Issuer or proceeds thereof are not sufficient to pay in full the amounts payable with respect to all outstanding shares of Designated Preferred Stock and the corresponding amounts payable with respect of any other stock of the Issuer ranking equally
with Designated Preferred Stock as to such distribution, holders of Designated Preferred Stock and the holders of such other stock shall share ratably in any such distribution in proportion to the full respective distributions to which they are
entitled. 
 (c) Residual Distributions. If the Liquidation Preference has been paid in full to all holders of Designated Preferred
Stock and the corresponding amounts payable with respect of any other stock of the Issuer ranking equally with Designated Preferred Stock as to such distribution has been paid in full, the holders of other stock of the Issuer shall be entitled to
receive all remaining assets of the Issuer (or proceeds thereof) according to their respective rights and preferences. 
 (d) Merger,
Consolidation and Sale of Assets Not Liquidation. For purposes of this Section 4, the merger or consolidation of the Issuer with any other corporation or other entity, including a merger or consolidation in which the holders of Designated
Preferred Stock receive cash, securities or other property for their shares, or the sale, lease or exchange (for cash, securities or other property) of all or substantially all of the assets of the Issuer, shall not constitute a liquidation,
dissolution or winding up of the Issuer. 
 Section 5. Redemption. 
 (a) Optional Redemption. Except as provided below, the Designated Preferred Stock may not be redeemed prior to the first Dividend Payment Date
falling on or after the third anniversary of the Original Issue Date. On or after the first Dividend Payment Date falling on or after the third anniversary of the Original Issue Date, the Issuer, at its option, subject to the approval of the
Appropriate Federal Banking Agency, may redeem, in whole or in part, at any time and from time to time, out of funds legally available therefor, the shares of Designated Preferred Stock at the time outstanding, upon notice given as provided in
Section 5(c) below, at a redemption price equal to the sum of (i) the Liquidation Amount per share and (ii) except as otherwise provided below, any accrued and unpaid dividends (including, if applicable as provided in
Section 3(a) above, dividends on such amount) (regardless of whether any dividends are actually declared) to, but excluding, the date fixed for redemption. 
 Notwithstanding the foregoing, prior to the first Dividend Payment Date falling on or after the third anniversary of the Original Issue Date, the Issuer, at its option, subject to the approval of the Appropriate
Federal Banking Agency, may redeem, in whole or in part, at any time and from time to time, the shares of Designated Preferred Stock at the time outstanding, upon notice given as provided in Section 5(c) below, at a redemption price equal to
the sum of (i) the Liquidation Amount per share and (ii) except as otherwise provided below, any accrued and unpaid dividends (including, if applicable as provided in Section 3(a) above, dividends on such amount) (regardless of
whether any dividends are actually declared) to, but excluding, the date fixed for redemption; provided that (x) the Issuer (or any successor by Business Combination) has received aggregate gross proceeds of not less than the Minimum
Amount 

  

					
	UST Sequence No. 970	 	A-5	 	

 
(plus the “Minimum Amount” as defined in the relevant certificate of designations for each other outstanding series of preferred stock of such
successor that was originally issued to the United States Department of the Treasury (the “Successor Preferred Stock”) in connection with the Troubled Asset Relief Program Capital Purchase Program) from one or more Qualified Equity
Offerings (including Qualified Equity Offerings of such successor), and (y) the aggregate redemption price of the Designated Preferred Stock (and any Successor Preferred Stock) redeemed pursuant to this paragraph may not exceed the aggregate
net cash proceeds received by the Issuer (or any successor by Business Combination) from such Qualified Equity Offerings (including Qualified Equity Offerings of such successor). 
 The redemption price for any shares of Designated Preferred Stock shall be payable on the redemption date to the holder of such shares against surrender
of the certificate(s) evidencing such shares to the Issuer or its agent. Any declared but unpaid dividends payable on a redemption date that occurs subsequent to the Dividend Record Date for a Dividend Period shall not be paid to the holder entitled
to receive the redemption price on the redemption date, but rather shall be paid to the holder of record of the redeemed shares on such Dividend Record Date relating to the Dividend Payment Date as provided in Section 3 above. 
 (b) No Sinking Fund. The Designated Preferred Stock will not be subject to any mandatory redemption, sinking fund or other similar provisions.
Holders of Designated Preferred Stock will have no right to require redemption or repurchase of any shares of Designated Preferred Stock. 
 (c) Notice of Redemption. Notice of every redemption of shares of Designated Preferred Stock shall be given by first class mail, postage prepaid, addressed to the holders of record of the shares to be redeemed at their respective
last addresses appearing on the books of the Issuer. Such mailing shall be at least 30 days and not more than 60 days before the date fixed for redemption. Any notice mailed as provided in this Subsection shall be conclusively presumed to have been
duly given, whether or not the holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any holder of shares of Designated Preferred Stock designated for redemption shall
not affect the validity of the proceedings for the redemption of any other shares of Designated Preferred Stock. Notwithstanding the foregoing, if shares of Designated Preferred Stock are issued in book-entry form through The Depository Trust
Company or any other similar facility, notice of redemption may be given to the holders of Designated Preferred Stock at such time and in any manner permitted by such facility. Each notice of redemption given to a holder shall state: (1) the
redemption date; (2) the number of shares of Designated Preferred Stock to be redeemed and, if less than all the shares held by such holder are to be redeemed, the number of such shares to be redeemed from such holder; (3) the redemption
price; and (4) the place or places where certificates for such shares are to be surrendered for payment of the redemption price. 
 (d)
Partial Redemption. In case of any redemption of part of the shares of Designated Preferred Stock at the time outstanding, the shares to be redeemed shall be selected either pro rata or in such other manner as the Board of Directors or
a duly authorized committee thereof may determine to be fair and equitable. Subject to the provisions hereof, the Board of Directors or a duly authorized committee thereof shall have full power and authority to prescribe the 

  

					
	UST Sequence No. 970	 	A-6	 	

 
terms and conditions upon which shares of Designated Preferred Stock shall be redeemed from time to time. If fewer than all the shares represented by any
certificate are redeemed, a new certificate shall be issued representing the unredeemed shares without charge to the holder thereof. 
 (e)
Effectiveness of Redemption. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been deposited by the Issuer, in trust for the pro rata
benefit of the holders of the shares called for redemption, with a bank or trust company doing business in the Borough of Manhattan, The City of New York, and having a capital and surplus of at least $500 million and selected by the Board of
Directors, so as to be and continue to be available solely therefor, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date dividends shall cease
to accrue on all shares so called for redemption, all shares so called for redemption shall no longer be deemed outstanding and all rights with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right
of the holders thereof to receive the amount payable on such redemption from such bank or trust company, without interest. Any funds unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released to
the Issuer, after which time the holders of the shares so called for redemption shall look only to the Issuer for payment of the redemption price of such shares. 
 (f) Status of Redeemed Shares. Shares of Designated Preferred Stock that are redeemed, repurchased or otherwise acquired by the Issuer shall revert to authorized but unissued shares of Preferred Stock
(provided that any such cancelled shares of Designated Preferred Stock may be reissued only as shares of any series of Preferred Stock other than Designated Preferred Stock). 
 Section 6. Conversion. Holders of Designated Preferred Stock shares shall have no right to exchange or convert such shares into any other
securities. 
 Section 7. Voting Rights. 
 (a) General. The holders of Designated Preferred Stock shall not have any voting rights except as set forth below or as otherwise from time to time required by law. 
 (b) Preferred Stock Directors. Whenever, at any time or times, dividends payable on the shares of Designated Preferred Stock have not been paid
for an aggregate of six quarterly Dividend Periods or more, whether or not consecutive, the authorized number of directors of the Issuer shall automatically be increased by two and the holders of the Designated Preferred Stock shall have the right,
with holders of shares of any one or more other classes or series of Voting Parity Stock outstanding at the time, voting together as a class, to elect two directors (hereinafter the “Preferred Directors” and each a
“Preferred Director”) to fill such newly created directorships at the Issuer’s next annual meeting of stockholders (or at a special meeting called for that purpose prior to such next annual meeting) and at each
subsequent annual meeting of stockholders until all accrued and unpaid dividends for all past Dividend Periods, including the latest completed Dividend Period (including, if applicable as provided in 

  

					
	UST Sequence No. 970	 	A-7	 	

 
Section 3(a) above, dividends on such amount), on all outstanding shares of Designated Preferred Stock have been declared and paid in full at which time
such right shall terminate with respect to the Designated Preferred Stock, except as herein or by law expressly provided, subject to revesting in the event of each and every subsequent default of the character above mentioned; provided that
it shall be a qualification for election for any Preferred Director that the election of such Preferred Director shall not cause the Issuer to violate any corporate governance requirements of any securities exchange or other trading facility on
which securities of the Issuer may then be listed or traded that listed or traded companies must have a majority of independent directors. Upon any termination of the right of the holders of shares of Designated Preferred Stock and Voting Parity
Stock as a class to vote for directors as provided above, the Preferred Directors shall cease to be qualified as directors, the term of office of all Preferred Directors then in office shall terminate immediately and the authorized number of
directors shall be reduced by the number of Preferred Directors elected pursuant hereto. Any Preferred Director may be removed at any time, with or without cause, and any vacancy created thereby may be filled, only by the affirmative vote of the
holders a majority of the shares of Designated Preferred Stock at the time outstanding voting separately as a class together with the holders of shares of Voting Parity Stock, to the extent the voting rights of such holders described above are then
exercisable. If the office of any Preferred Director becomes vacant for any reason other than removal from office as aforesaid, the remaining Preferred Director may choose a successor who shall hold office for the unexpired term in respect of which
such vacancy occurred. 
 (c) Class Voting Rights as to Particular Matters. So
long as any shares of Designated Preferred Stock are outstanding, in addition to any other vote or consent of stockholders required by law or by the Charter, the vote or consent of the holders of at least 66  2/3% of the shares of Designated Preferred Stock at the time outstanding, voting as a separate class, given in person or by proxy,
either in writing without a meeting or by vote at any meeting called for the purpose, shall be necessary for effecting or validating: 
 (i) Authorization of Senior Stock. Any amendment or alteration of the Certificate of Designations for the Designated Preferred Stock or the Charter to authorize or create or increase the authorized amount of,
or any issuance of, any shares of, or any securities convertible into or exchangeable or exercisable for shares of, any class or series of capital stock of the Issuer ranking senior to Designated Preferred Stock with respect to either or both the
payment of dividends and/or the distribution of assets on any liquidation, dissolution or winding up of the Issuer; 
 (ii)
Amendment of Designated Preferred Stock. Any amendment, alteration or repeal of any provision of the Certificate of Designations for the Designated Preferred Stock or the Charter (including, unless no vote on such merger or consolidation is
required by Section 7(c)(iii) below, any amendment, alteration or repeal by means of a merger, consolidation or otherwise) so as to adversely affect the rights, preferences, privileges or voting powers of the Designated Preferred Stock; or

 (iii) Share Exchanges, Reclassifications, Mergers and Consolidations. Any consummation of a binding share exchange
or reclassification involving the Designated 

  

					
	UST Sequence No. 970	 	A-8	 	

 
Preferred Stock, or of a merger or consolidation of the Issuer with another corporation or other entity, unless in each case (x) the shares of
Designated Preferred Stock remain outstanding or, in the case of any such merger or consolidation with respect to which the Issuer is not the surviving or resulting entity, are converted into or exchanged for preference securities of the surviving
or resulting entity or its ultimate parent, and (y) such shares remaining outstanding or such preference securities, as the case may be, have such rights, preferences, privileges and voting powers, and limitations and restrictions thereof,
taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers, and limitations and restrictions thereof, of Designated Preferred Stock immediately prior to such consummation,
taken as a whole; 
 provided, however, that for all purposes of this Section 7(c), any increase in the amount of the authorized Preferred
Stock, including any increase in the authorized amount of Designated Preferred Stock necessary to satisfy preemptive or similar rights granted by the Issuer to other persons prior to the Signing Date, or the creation and issuance, or an increase in
the authorized or issued amount, whether pursuant to preemptive or similar rights or otherwise, of any other series of Preferred Stock, or any securities convertible into or exchangeable or exercisable for any other series of Preferred Stock,
ranking equally with and/or junior to Designated Preferred Stock with respect to the payment of dividends (whether such dividends are cumulative or non-cumulative) and the distribution of assets upon liquidation, dissolution or winding up of the
Issuer will not be deemed to adversely affect the rights, preferences, privileges or voting powers, and shall not require the affirmative vote or consent of, the holders of outstanding shares of the Designated Preferred Stock. 
 (d) Changes after Provision for Redemption. No vote or consent of the holders of Designated Preferred Stock shall be required pursuant to
Section 7(c) above if, at or prior to the time when any such vote or consent would otherwise be required pursuant to such Section, all outstanding shares of the Designated Preferred Stock shall have been redeemed, or shall have been called for
redemption upon proper notice and sufficient funds shall have been deposited in trust for such redemption, in each case pursuant to Section 5 above. 
 (e) Procedures for Voting and Consents. The rules and procedures for calling and conducting any meeting of the holders of Designated Preferred Stock (including, without limitation, the fixing of a record date
in connection therewith), the solicitation and use of proxies at such a meeting, the obtaining of written consents and any other aspect or matter with regard to such a meeting or such consents shall be governed by any rules of the Board of Directors
or any duly authorized committee of the Board of Directors, in its discretion, may adopt from time to time, which rules and procedures shall conform to the requirements of the Charter, the Bylaws, and applicable law and the rules of any national
securities exchange or other trading facility on which Designated Preferred Stock is listed or traded at the time. 
 Section 8.
Record Holders. To the fullest extent permitted by applicable law, the Issuer and the transfer agent for Designated Preferred Stock may deem and treat the record holder of any share of Designated Preferred Stock as the true and lawful owner
thereof for all purposes, and neither the Issuer nor such transfer agent shall be affected by any notice to the contrary. 
  

					
	UST Sequence No. 970	 	A-9	 	

 Section 9. Notices. All notices or communications in respect of Designated Preferred Stock
shall be sufficiently given if given in writing and delivered in person or by first class mail, postage prepaid, or if given in such other manner as may be permitted in this Certificate of Designations, in the Charter or Bylaws or by applicable law.
Notwithstanding the foregoing, if shares of Designated Preferred Stock are issued in book-entry form through The Depository Trust Company or any similar facility, such notices may be given to the holders of Designated Preferred Stock in any manner
permitted by such facility. 
 Section 10. No Preemptive Rights. No share of Designated Preferred Stock shall have any rights of
preemption whatsoever as to any securities of the Issuer, or any warrants, rights or options issued or granted with respect thereto, regardless of how such securities, or such warrants, rights or options, may be designated, issued or granted.

 Section 11. Replacement Certificates. The Issuer shall replace any mutilated certificate at the holder’s expense upon
surrender of that certificate to the Issuer. The Issuer shall replace certificates that become destroyed, stolen or lost at the holder’s expense upon delivery to the Issuer of reasonably satisfactory evidence that the certificate has been
destroyed, stolen or lost, together with any indemnity that may be reasonably required by the Issuer. 
 Section 12. Other
Rights. The shares of Designated Preferred Stock shall not have any rights, preferences, privileges or voting powers or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than
as set forth herein or in the Charter or as provided by applicable law. 
  

					
	UST Sequence No. 970	 	A-10

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