Document:

Form of Data Domain, Inc. 2007 Equity Incentive Plan Restricted Stock Unit Agrmt

 Exhibit 10.3 
 Form of Data Domain, Inc. 2007 Equity Incentive Plan Restricted Stock Unit Agreement 

 No. ____ 
 DATA DOMAIN, INC. 
 2007 EQUITY INCENTIVE PLAN 
 RESTRICTED STOCK UNIT AGREEMENT 
 (Stock
Award Documentation for RSUs) 
 The Compensation Committee of the Board of Directors of Data Domain, Inc. (the “Company”) has
approved a grant to you (the “Participant” named below) of Restricted Stock Units (“RSUs”) pursuant to the Data Domain, Inc. 2007 Equity Incentive Plan (the “Plan”), as
described below. Capitalized terms not defined herein shall have the meaning ascribed to them in the Plan. 
  

					
	Participant:	  	  
	  	
			
	Number of RSUs:	  	  
	  	
			
	Date of Grant:	  	  
	  	
			
	Vesting Commencement Date:	  	  
	  	
		
	Expiration Date:	  	The date on which settlement of all RSUs granted hereunder occurs, with earlier expiration upon the date the Participant’s Service terminates.

 Vesting Schedule: The RSUs will vest as follows: 
  

	 	(a)	None of the RSUs shall vest prior to the first anniversary of the Vesting Commencement Date; 

  

	 	(b)	25% of the RSUs shall vest on each of the first through fourth anniversaries of the Vesting Commencement Date, subject to your having continuously provided Service from the Date of
Grant to each such anniversary. 

 1. Settlement. Settlement of vested RSUs shall occur as soon as practicable following
the applicable anniversary of the Vesting Commencement Date , but in any event prior to the fifteenth day of the third month following the end of the Company’s fiscal year in which such anniversary of the Vesting Commencement Date occurs.
Settlement of vested RSUs shall be in Common Shares. The aggregate par value ($0.0001 per Common Share) of the Common Shares issued shall be deemed to have been paid by Participant’s Service from the Date of Grant to the applicable vesting
date. 

 2. No Stockholder Rights. Unless and until such time as Common Shares are issued in settlement of
vested RSUs, Participant shall have no ownership of the Common Shares allocated to the RSUs and shall have no right to vote such Common Shares, subject to the terms, conditions and restrictions described in the Plan and herein. 
 3. No Transfer. The RSUs and any interest therein shall not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of (except
as provided in the Plan upon the death of the Participant), and any attempt to effect such shall be void ab initio and shall cause such RSUs to be forfeited to the Company forthwith, and all the rights of the Participant to such RSUs shall
immediately terminate. 
 4. Termination of Participant’s Service. If Participant Service terminates for any reason, the RSUs and
any interest therein shall be forfeited to the Company, and all the rights of Participant to such RSUs shall immediately terminate. For purposes of the foregoing sentence, Participant’s Service terminates as of the date that Participant is no
longer actively employed and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of “garden leave” (as such term is commonly understood) or similar period pursuant
to local law). In case of any dispute as to whether Participant’s Service has terminated, the Administrator shall have sole discretion to determine whether Participant’s Service has terminated and the effective date of such termination.

 5. Tax Consequences. Participant acknowledges that there may be adverse tax consequences upon settlement of the RSUs or disposition
of the Common Shares, if any, received in connection with the RSU and that Participant should consult a tax adviser prior to such settlement or disposition. Furthermore, regardless of any action the Company or Participant’s employer takes with
respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding (“Tax-Related Items”), Participant acknowledges that the ultimate liability for all Tax-Related Items legally due by Participant is and
remains Participant’s responsibility and that the Company and/or Participant’s employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the RSUs, including
the grant, vesting or settlement of the RSUs, the subsequent sale of the Common Shares received upon vesting of the RSUs and the receipt of any dividends; and (b) do not commit to structure the terms of the RSU Award or any aspect of the RSU
Award to reduce or eliminate Participant’s liability for Tax-Related Items. 
 Prior to the relevant taxable event, Participant shall pay or make
adequate arrangements satisfactory to the Company and/or Participant’s employer to satisfy all withholding and payment on account obligations of the Company and/or Participant’s employer. In this regard, if permissible under local law,
Participant authorizes the Company and/or Participant’s employer, at its discretion, to satisfy the obligations with regard to all Tax-Related Items legally payable by Participant by withholding from the Common Shares to be issued in settlement
of vested RSUs. Such number of Common Shares as shall have a Fair Market Value (determined on the date of withholding) equal to the amount necessary to satisfy the minimum statutorily applicable withholding amount. If the foregoing method of
withholding is prohibited or insufficient to satisfy all Tax-Related Items legally payable by Participant, then Participant hereby authorizes the Company and/or Participant’s employer to satisfy the obligations by one or a combination of the
following: 
  

	 	(a)	withholding from Participant’s wages or other cash compensation paid to Participant by the Company and/or Participant’s employer; or 

	 	(b)	withholding Common Shares issued in settlement of vested RSUs; or 

  

	 	(c)	selling Common Shares or arranging for the sale of Common Shares (in either case on Participant’s behalf and at Participant’s direction pursuant to this authorization)
issued in settlement of vested RSUs. 

 Finally, Participant shall pay to the Company or Participant’s employer any amount of Tax-Related
Items that the Company or Participant’s employer may be required to withhold as a result of Participant’s participation in the Plan or the vesting of RSUs that cannot be satisfied by the means previously described. The Company may refuse
to deliver the Common Shares if Participant fails to comply with Participant’s obligations in connection with the Tax-Related Items as described in this section. 
 6. Nature of Grant. In accepting the RSUs, Participant acknowledges that: 
  

	 	(a)	the Plan is established voluntarily by the Company, it is discretionary in nature and it may be amended, suspended or terminated by the Company at any time, unless otherwise
provided in the Plan and this Restricted Stock Unit Agreement; 

  

	 	(b)	the Award of RSUs is voluntary and occasional and does not create any contractual or other right to receive future Awards of RSUs, or benefits in lieu of RSUs even if RSUs have been
granted repeatedly in the past; 

  

	 	(c)	all decisions with respect to future awards, if any, will be at the sole discretion of the Company; 

  

	 	(d)	Participant’s participation in the Plan shall not create a right to further employment with Participant’s employer and shall not interfere with the ability of
Participant’s employer to terminate Participant’s employment relationship at any time with or without cause; 

  

	 	(e)	Participant’s participation in the Plan is voluntary; 

  

	 	(f)	the Award of RSUs is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or Participant’s employer, and is
outside the scope of Participant’s employment contract, if any; 

  

	 	(g)	the Award of RSUs is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, redundancy or end
of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; 

  

	 	(h)	in the event that Participant is not an employee of the Company, the RSU Award will not be interpreted to form an employment contract or relationship with the Company; and
furthermore, the RSU Award will not be interpreted to form an employment contract with Participant’s employer or any Subsidiary or Affiliate of the Company; 

  

	 	(i)	the future value of the underlying Common Shares is unknown and cannot be predicted with certainty; 

	 	(j)	in consideration of the RSU Award, no claim or entitlement to compensation or damages shall arise from termination of the RSU Award or diminution in value of the Common Shares
received when the RSUs become vested resulting from Participant’s termination of Service (for any reason whatsoever and whether or not in breach of local labor laws), and Participant irrevocably releases the Company and Participant’s
employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by accepting this RSU Award, Participant shall be deemed irrevocably to have waived
Participant’s entitlement to pursue such claim; 

  

	 	(k)	the Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan, or
Participant’s acquisition or sale of the underlying Common Shares; and 

  

	 	(l)	Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking
any action related to the Plan. 

 7. Compliance with Laws and Regulations. The issuance of Common
Shares will be subject to and conditioned upon compliance by the Company and Participant with all applicable foreign, state and federal laws and regulations and with all applicable requirements of any stock exchange or automated quotation system on
which the Common Shares may be listed or quoted at the time of such issuance or transfer. 
 8. Compensation Deferral. Payments made
pursuant to the RSU Award are intended to qualify for the “short-term deferral” exemption from Section 409A of the Code. The Company reserves the right, to the extent the Company deems necessary or advisable in its sole discretion, to
unilaterally amend or modify the Plan and/or this Restricted Stock Unit Agreement to ensure that all RSUs are granted in a manner that qualifies for an exemption from or complies with Section 409A of the Code, provided, however, that the
Company makes no representation that this Award is not subject to Section 409A of the Code nor makes any undertaking to preclude Section 409A of the Code from applying to this Award. 
 9. Successors and Assigns. The Company may assign any of its rights under this Restricted Stock Unit Agreement. This Restricted
Stock Unit Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Restricted Stock Unit Agreement will be binding upon Participant and
Participant’s heirs, executors, administrators, legal representatives, successors and assigns. 
 10.
Governing Law; Severability. This Restricted Stock Unit Agreement shall be governed by and construed in accordance with the internal laws of the State of California as such laws are applied to agreements between California
residents entered into and to be performed entirely within California, excluding that body of laws pertaining to conflict of laws. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties
evidenced by this Award or this Restricted Stock Unit Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation 

 
shall be conducted only in the courts of Santa Clara County, California, or the federal courts for the United States for the Northern District of California,
and no other courts, where this grant is made and/or to be performed. If any provision of this Restricted Stock Unit Agreement is determined by a court of law to be illegal or unenforceable, then such provision will be enforced to the maximum extent
possible and the other provisions will remain fully effective and enforceable. 
 11. Further Instruments. The parties agree to
execute such further instruments and to take such further action as may be reasonably necessary to carry out the purposes and intent of this Restricted Stock Unit Agreement. 
 12. Headings. The captions and headings of this Restricted Stock Unit Agreement are included for ease of reference only and are to be disregarded in interpreting or construing this Restricted
Stock Unit Agreement. 
 13. Entire Agreement. The Plan and this Restricted Stock Unit Agreement constitute the entire agreement
and understanding of the parties with respect to the subject matter herein and supersede all prior understandings and agreements, whether oral or written, between the parties hereto with respect to the specific subject matter hereof. 
 14. Notices. Any notice required to be given or delivered to the Company shall be in writing and addressed to the Corporate Secretary of the Company
at its principal corporate offices. Any notice required to be given or delivered to Participant shall be in writing and addressed to Participant at the address indicated above or to such other address as Participant may designate in writing from
time to time to the Company. All notices shall be deemed effectively given upon personal delivery, (a) three (3) days after deposit in the United States mail by certified or registered mail (return receipt requested), (b) one
(1) business day after its deposit with any return receipt express courier (prepaid), or (c) one (1) business day after transmission by rapifax or telecopier. 
 15. Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to the RSUs granted under and participation in the Plan or future RSUs that may be granted
under the Plan by electronic means or to request Participant’s consent to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery and, if requested, to agree to participate in
the Plan through an on-line or electronic system established and maintained by the Company or third party designated by the Company. 
 16.
Acknowledgement & Electronic Signature. By Participant’s electronic signature and the electronic signature of the Company’s representative, the Company and Participant agree that the RSUs are granted under and
governed by this Restricted Stock Unit Agreement. Participant acknowledges receipt of a copy of the Plan and the Plan prospectus and represents that Participant has carefully read and is familiar with their provisions. Participant has had an
opportunity to obtain the advice of counsel prior to executing this Restricted Stock Unit Agreement and fully understands all provisions of the Plan and this Restricted Stock Unit Agreement. Participant hereby accepts the RSUs subject to all of the
terms and conditions set forth herein and those set forth in the Plan and agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and this Restricted Stock Unit
Agreement.Warrant to Purchase Preferred Stock of the Company

 Exhibit 4.1 
 WARRANT TO PURCHASE PREFERRED STOCK 
 THE SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT WHILE A REGISTRATION STATEMENT RELATING THERETO IS IN EFFECT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES
LAWS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT OR SUCH LAWS. THIS INSTRUMENT IS ISSUED SUBJECT TO THE RESTRICTIONS ON TRANSFER AND OTHER PROVISIONS OF A SECURITIES PURCHASE AGREEMENT BETWEEN THE ISSUER OF THESE SECURITIES AND THE
INVESTOR REFERRED TO THEREIN, A COPY OF WHICH IS ON FILE WITH THE ISSUER. THE SECURITIES REPRESENTED BY THIS INSTRUMENT MAY NOT BE SOLD OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH SAID AGREEMENT. ANY SALE OR OTHER TRANSFER NOT IN COMPLIANCE
WITH SAID AGREEMENT WILL BE VOID. 
 WARRANT 
 to purchase 
 500.005 
 Shares of Preferred Stock 
 Of Greer Bancshares Incorporated 
 Issue Date: January 30, 2009 
 1.
Definitions. Unless the context otherwise requires, when used herein the following terms shall have the meanings indicated. 
 “Board of Directors” means the board of directors of the Company, including any duly authorized committee thereof. 
 “business day” means any day except Saturday, Sunday and any day on which banking institutions in the State of New York generally are authorized or required by law or other governmental actions to close. 
 “Charter” means, with respect to any Person, its certificate or articles of incorporation, articles of association, or similar
organizational document. 
 “Company” means the Person whose name, corporate or other organizational form and jurisdiction
of organization is set forth in Item 1 of Schedule A hereto. 
 “Exchange Act” means the Securities Exchange Act of
1934, as amended, or any successor statute, and the rules and regulations promulgated thereunder. 
 UST Seq. #355 

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

 “Expiration Time” has the meaning set forth in Section 3. 
 “Issue Date” means the date set forth in Item 3 of Schedule A hereto. 
 “Liquidation Amount” means the amount set forth in Item 4 of Schedule A hereto. 
 “Original Warrantholder” means the United States Department of the Treasury. Any Actions specified to be taken by the Original
Warrantholder hereunder may only be taken by such Person and not by any other Warrantholder. 
 “Person” has the meaning
given to it in Section 3(a)(9) of the Exchange Act and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act. 
 “Preferred Stock” means the series of perpetual stock set forth in Item 5 of Schedule A hereto. 
 “Purchase Agreement” means the Securities Purchase Agreement-Standard Terms incorporated into the Letter Agreement, dated as of the date set forth in Item 6 of Schedule A hereto, as amended from time to time, between
the Company and the United States Department of the Treasury (the “Letter Agreement”), including all annexes and schedules thereto. 
 “Regulatory Approvals” with respect to the Warrantholder, means, to the extent applicable and required to permit the Warrantholder to exercise this Warrant for shares of Preferred Stock and to own such Preferred Stock
without the Warrantholder being in violation of applicable law, rule or regulation, the receipt of any necessary approvals and authorizations of, filings and registrations with, notifications to, or expiration or termination of any applicable
waiting period under, the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations thereunder. 
 “SEC” means the U.S. Securities and Exchange Commission. 
 “Securities Act” means the Securities
Act of 1933, as amended, or any successor statute, and the rules and regulations promulgated thereunder. 
 “Shares” has the
meaning set forth in Section 2. 
 “Warrantholder” has the meaning set forth in Section 2. 
 “Warrant” means this Warrant, issued pursuant to the Purchase Agreement. 
 2. Number of Shares; Exercise Price. This certifies that, for value received, the United States Department of Treasury or its permitted assigns
(the “Warrantholder”) is entitled, upon the terms and subject to the conditions hereinafter set forth, to acquire from the Company, in whole or in part, after the receipt of all applicable Regulatory Approvals, if any, up 

  

					
		  	2	  	UST Seq. #355

 
to an aggregate of the number of fully paid and nonassessable shares of Preferred Stock set forth in Item 7 of Schedule A hereto (the
“Shares”), at a purchase price per share of Preferred Stock equal to the Exercise Price. 
 3. Exercise of Warrant; Term.
Subject to Section 2, to the extent permitted by applicable laws and regulations, the right to purchase the Shares represented by this Warrant is exercisable, in whole or in part by the Warrantholder, at any time or from time to time after the
execution and delivery of this Warrant by the Company on the date hereof, but in no event later than 5:00 p.m., New York City time on the tenth anniversary of the Issue Date (the “Expiration Time”), by (A) the surrender of this
Warrant and Notice of Exercise annexed hereto, duly completed and executed on behalf of the Warrantholder, at the principal executive office of the Company located at the address set forth in Item 8 of Schedule A hereto (or such other office or
agency of the Company in the United States as it may designate by notice in writing to the Warrantholder at the address of the Warrantholder appearing on the books of the Company), and (B) payment of the Exercise Price for the Shares thereby
purchased, by having the Company withhold, from the shares of Preferred Stock that would otherwise be delivered to the warrantholder upon such exercise, shares of Preferred Stock issuable upon the exercise of the Warrant with an aggregate
Liquidation Amount equal in value to the aggregate Exercise Price as to which this Warrant is so exercised. If the Warrantholder does not exercise this Warrant in its entirety, the Warrantholder will be entitled to receive from the Company within a
reasonable time, and in any event not exceeding three business days, a new warrant in substantially identical form for the purchase of that Number of Shares equal to the difference between the number of Shares subject to this Warrant and the number
of Shares as to which this Warrant is so exercised. Notwithstanding anything in this Warrant to the contrary, the Warrantholder hereby acknowledges and agrees and its exercise of this Warrant for Shares is subject to the condition that the
Warrantholder will have first received any applicable Regulatory Approvals. 
 4. Issuance of Shares; Authorization. Certificates for
Shares issued upon exercise of this Warrant will be issued in such name or names as the Warrantholder may designate and will be delivered to such named Person or Persons within a reasonable time, not exceed three business days after the date on
which this Warrant has been duly exercised in accordance with the terms of this Warrant. The Company hereby represents and warrants that any Shares issued upon the exercise of this Warrant in accordance with the provisions of Section 3 will be
duly and validly authorized and issued, fully paid and nonassessable and free from all taxes, liens and charges (other than liens or charges created by the Warrantholder, income and franchise taxes incurred in connection with the exercise of the
Warrant or taxes in respect of any transfer occurring contemporaneously therewith). The Company agrees that the Shares so issued will be deemed to have been issued to the Warrantholder as of the close of business on the date on which this Warrant
and payment of the Exercise Price are delivered to the Company in accordance with the terms of this Warrant, notwithstanding that the stock transfer books of the Company may then be closed or certificates representing such Shares may not be actually
delivered on such date. The Company will at all times reserve and keep available, out of its authorized but unissued preferred stock, solely for the purpose of providing for the exercise of this Warrant, the aggregate number of shares of Preferred
Stock then issuable upon exercise of this Warrant at any time. The Company will use reasonable best efforts to ensure that the Shares may be issued without violation of any applicable law or regulation or of any requirement of any securities
exchange on which the Shares are listed or traded. 
  

					
		  	3	  	UST Seq. #355

 5. No Rights as Stockholders; Transfer Books. This Warrant does not entitle the Warrantholder to
any voting rights or other rights as a stockholder of the Company prior to the date of exercise hereof. The Company will at no time close its transfer books against transfer of this Warrant in any manner which interferes with the timely exercise of
this Warrant. 
 6. Charges, Taxes and Expenses. Issuance of certificates for Shares to the Warrantholder upon the exercise of this
Warrant shall be made without charge to the Warrantholder for any issue or transfer tax or other incidental expense in respect of the issuance of such certificates, all of which taxes and expenses shall be paid by the Company. 
 7. Transfer/Assignment. 
 (A) Subject
to compliance with clause (B) of this Section 7, this Warrant and all rights hereunder are transferable, in whole or in part, upon the books of the Company by the registered holder hereof in person or by duly authorized attorney, and a new
warrant shall be made and delivered by the Company, of the same tenor and date as this Warrant by registered in the name of one or more transferees, upon surrender of this Warrant, duly endorsed, to the office or agency of the Company described in
Section 3. All expenses (other than stock transfer taxes) and other charges payable in connection with the preparation, execution and delivery of the new warrants pursuant to this Section 7 shall be paid by the Company. 
 (B) The transfer of the Warrant and the Shares issued upon exercise of the Warrant are subject to the restriction set forth in Section 4.4 of the
Purchase Agreement. If and for so long as required by the Purchase Agreement, this Warrant shall contain the legends as set forth in Section 4.2(a) of the Purchase Agreement. 
 8. Exchange and Registry of Warrant. This Warrant is exchangeable, upon the surrender hereof by the Warrantholder to the Company, for a new
warrant or warrants of like tenor and representing the right to purchase the same aggregate number of Shares. The Company shall maintain a registry showing the name and address of the Warrantholder as the registered holder of this Warrant. This
Warrant may be surrendered for exchange or exercise in accordance with its terms, at the office of the Company, and the Company shall be entitled to rely in all respects, prior to written notice to the contrary, upon such registry. 
 9. Loss, Theft, Destruction or Mutilation of Warrant. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant, and in the case of any such loss, theft or destruction, upon receipt of a bond, indemnity or security reasonably satisfactory to the Company, or, in the case of any such mutilation, upon surrender and
cancellation of this Warrant, the Company shall make and deliver, in lieu of such lost, stolen, destroyed or mutilated Warrant, a new Warrant of like tenor and representing the right to purchase the same aggregate number of Shares as provided for in
such lost, stolen, destroyed or mutilated Warrant. 
  

					
		  	4	  	UST Seq. #355

 10. Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action
or the expiration of any right required or granted herein shall not be a business day, then such action may be taken or such right may be exercised on the next succeeding day that is a business day. 
 11. Rule 144 Information. The Company covenants that it will use its reasonable best efforts to timely file all reports and other documents
required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations promulgated by the SEC thereunder(or, if the Company is not required to file such reports, it will, upon the request of any Warrantholder, make
publicly available such information as necessary to permit sales pursuant to Rule 144 under the Securities Act), and it will use reasonable best efforts to take such further action as any Warrantholder may reasonably request, in each case to the
extent required from time to time to enable such holder to, if permitted by the terms of this Warrant and the Purchase Agreement, sell this Warrant without registration under the Securities Act within the limitation of the exemptions provided by
(A) Rule 144 under the Securities Act, as such rule may be amended from time to time, or (B) any successor rule or regulation hereafter adopted by the SEC. Upon the written request of any Warrantholder, the Company will deliver to such
Warrantholder a written statement that it has complied with such requirements. 
 12. Adjustments and Other Rights. For so long as the
Original Warrantholder holds this Warrant or any portion thereof, if any event occurs that, in the good faith judgment of the Board of Directors of the Company, would require adjustment of the Exercise Price or number of Shares into which this
Warrant is exercisable in order to fairly and adequately protect the purchase rights of the Warrants in accordance with the essential intent and principles of the Purchase Agreement and this Warrant, then the Board of Directors shall make such
adjustments in the application of such provisions, in accordance with such essential intent and principles, as shall be reasonably necessary, in the good faith opinion of the Board of Directors, to protect such purchase rights as aforesaid.

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

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

  

					
		  	5	  	UST Seq. #355

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

 16. Amendments. This Warrant may be amended and the observance of any term of this Warrant may be waived only with the written
consent of the Company and the Warrantholder. 
 17. Notices. Any notice, request, instruction or other document to be given hereunder
by any party to the other will be in writing and will be deemed to have been duly given (a) on the date of delivery if delivered personally, or by facsimile, upon confirmation of receipt, or (b) on the second business day following the
date of dispatch if delivered by a recognized next day courier service. All notices hereunder shall be delivered as set forth in Item 9 of Schedule A hereto, or pursuant to such other instructions as may be designated in writing by the party to
receive such notice. 
 18. Entire Agreement. This Warrant, the forms attached hereto and Schedule A hereto (the terms of which are
incorporated by reference herein), and the Letter Agreement (including all documents incorporated therein), contain the entire agreement between the parties with respect to the subject matter hereof and supersede all prior and contemporaneous
arrangements or undertakings with respect thereto. 
 [Remainder of page intentionally left blank] 
  

					
		  	6	  	UST Seq. #355

 Notice of Exercise 
 Date: January 30, 2009 
 TO: Greer Bancshares Incorporated 
 RE: Election to Purchase Preferred Stock 
 The undersigned,
pursuant to the provisions set forth in the attached Warrant, hereby agrees to subscribe for and purchase such number of shares of Preferred Stock covered by the Warrant such that after giving effect to an exercise pursuant to Section 3(B) of
the Warrant, the undersigned will receive the net number of shares of Preferred Stock set forth below. The undersigned, in accordance with Section 3 of the Warrant, hereby agrees to pay the aggregate Exercise Price for such shares of Preferred
Stock in the manner set forth in Section 3(B) of the Warrant. 
 Number of Shares of Preferred Stock: 500 
 The undersigned agrees that it is exercising the attached Warrant in full and that, upon receipt by the undersigned of the number of shares of Preferred
Stock set forth above, such Warrant shall be deemed to be cancelled and surrendered to the Company. 
  

					
	 Holder:
	 	  

		 	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

  

					
		  	7	  	UST Seq. #355

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

 Dated: January 30, 2009 
  

			
	 GREER BANCSHARES INCORPORATED

		
	By:	 	 /s/ Kenneth M. Harper

	Name:	 	Kenneth M. Harper
	Title:	 	President and Chief Executive Officer
		
	 Attest:
	 	
		
	By:	 	 /s/ J. Richard Medlock

	Name:	 	J. Richard Medlock
	Title:	 	Secretary

 [Signature Page to Warrant] 
  

					
	GREENVILLE 1173611.3	  	8	  	UST Seq. #355

 SCHEDULE A 
 Item 1 
 Name: Greer Bancshares Incorporated 
 Corporate or other organizational form: Corporation 
 Jurisdiction of organization: South Carolina 
 Item 2 
 Exercise Price $0.01 per share 
 Item 3 
 Issue Date: January 30, 2009 
 Item 4 
 Liquidation Amount: $1,000 
 Item 5 
 Series of Perpetual Preferred Stock: Fixed Rate
Cumulative Preferred Stock, Series 2009-WP 
 Item 6 
 Date of Letter Agreement between the Company and the United States Department of the Treasury: January 30, 2009 
 Item 7

 Number of shares of Preferred Stock: 500.005 
 Item 8 
 Company’s address: 1111 W. Poinsett Street, Greer, South Carolina 29650 
 Item 9 
 Notice Information: 
 Kenneth M. Harper, CEO 
 1111 W. Poinsett Street 
 Greer, South Carolina 29650 
 With a copy to: 
 William L. Pitman, Esq. 
 Smith Moore Leatherwood, LLP 
 300 East McBee Street, Suite 500 
 Greenville, SC 29601 
  

					
		  		  	UST Seq. #355

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