Document:

Exhibit 4.6

SOUTHERN FIRST
BANCSHARES, INC.
2016 EQUITY INCENTIVE PLAN 

STOCK OPTION AGREEMENT

THIS STOCK OPTION AGREEMENT
(this “Agreement”) is entered into as of this day of _________, between Southern
First Bancshares, Inc., a South Carolina corporation (the “Company”), and
_________ (the “Optionee”). 

WHEREAS, on March 15, 2016,
the Board of Directors of the Company adopted the “Southern First Bancshares,
Inc. 2016 Equity Incentive Plan” (the “Plan”), and recommended that the Plan be
approved by the Company’s shareholders;

WHEREAS, the Company’s
shareholders approved the Plan at the annual meeting of shareholders held on May
17, 2016;

WHEREAS, the Committee has
granted the Optionee a stock option to purchase the number of shares of the
Company’s common stock as set forth below, and in consideration of the granting
of that stock option the Optionee intends to remain in the employ of the
Company;

WHEREAS, the Company
considers it desirable and in its best interest that the Optionee be provided an
inducement to acquire an ownership interest in the Company and an additional
incentive to advance the interest of the Company through the grant of an option
to purchase shares of common stock of the Company pursuant to the Plan; and

WHEREAS, the Company and
the Optionee desire to enter into a written agreement with respect to such
option in accordance with the Plan. 

NOW, THEREFORE, as an
employment incentive and to encourage stock ownership, and also in consideration
of the mutual covenants contained herein, the Company and the Optionee agree as
follows. 

1. Incorporation of Plan.
This option is granted pursuant to the provisions of the Plan and the terms and
definitions of the Plan are incorporated herein by reference and made a part
hereof. A copy of the Plan has been delivered to, and receipt is hereby
acknowledged by, the Optionee. 

1 

2. Grant of Option. Subject
to the provisions stated in this Agreement, the Company hereby evidences its
grant to the Optionee, not in lieu of salary or other compensation, of the right
and option (the “Option”) to purchase the number of shares of the Company’s
common stock, par value $0.01 per share (the “Common Stock”), set forth below,
exercisable in the amounts and at the time specified below. This Option
is intended to be
an _____________. 

	      	Date of
      Grant:	          	                    	 
		 
		Number of
      Shares:		 	 
		 
		Exercise
      Price:		 	 
		 
		Option Vesting
      Schedule:		Options are
      exercisable with respect the shares of Common Stock as follows, subject in
      each case to continued employment by the Company or a subsidiary of the
      Company through such date, and subject to the provisions of Section 7 of
      this Agreement:

	No. of Shares	Vesting Date
	 	 
	 	 
	 	 
	 	 
	 	 

Option Exercise Period: All
options expire and are void unless exercised on or before _________. 

3. Exercise Terms. The
Optionee must exercise the Option for at least the lesser of 100 shares or the
number of shares of Stock as to which the Option remains unexercised but
exercisable. If this Option is not exercised with respect to all or any part of
the shares subject to this Option prior to its expiration, the shares with
respect to which this Option was not exercised shall no longer be subject to
this Option. 

4. Restrictions on Transferability. No Option shall be transferable by an Optionee other than by will or
the laws of descent and distribution or pursuant to a Qualified Domestic
Relations Order. During the lifetime of an Optionee, Options shall be
exercisable only by such Optionee (or by such Optionee’s guardian or legal
representative, should one be appointed). If the shares purchased pursuant to
the exercise of an Incentive Stock Option are transferred by the Optionee,
except pursuant to the Optionee's will or the laws of descent and distribution,
prior to such date which is the later of two years after the grant of such
Incentive Stock Option or one year after the transfer of the shares to the
Optionee pursuant to the exercise of such Incentive Stock Option, the transfer
is a "disqualifying disposition" for tax purposes and the Optionee shall report
such transfer to the Company. 

5. Notice of Exercise of Option. This Option may be exercised by the Optionee, or by the Optionee’s
administrators, executors or personal representatives, by a written notice (in
substantially the form of a Notice of Exercise approved by the Company) signed
by the Optionee, or by such administrators,
executors or personal representatives, and delivered or mailed to the Company as
specified in this Agreement to the attention of the Chief Financial Officer or
such other officer as the Company may designate. Any such notice shall (a)
specify the number of shares of Common Stock which the Optionee or the
Optionee’s administrators, executors or personal representatives, as the case
may be, then elects to purchase hereunder, (b) contain such information as may
be reasonably required by the Company pursuant to this Agreement, and (c) be
accompanied by (i) consideration in the form of any cashless exercise (such
consideration having been approved by the Administrator upon the granting of
this Option), including by means of a net exercise whereby the Company issues
net Shares and the remaining balance of the Shares to satisfy the Participant’s
tax withholding obligations; (ii) unrestricted shares of Common Stock already
owned by the Participant (based on the Fair Market Value on the date the Option
is exercised); (iii) any other form of consideration subsequently approved by
the Administrator and permitted by applicable law; or (iv) a combination of a
certified or cashier’s check accompanied by a number of shares of stock which
equal under (i), (ii) or (iii) the total Exercise Price applicable to such
shares purchased hereunder. Upon receipt of any such notice and accompanying
payment, and subject to the terms hereof, the Company agrees to issue to the
Optionee or the Optionee’s administrators, executors or personal
representatives, as the case may be, stock certificates for the number of shares
specified in such notice registered in the name of the person exercising this
Option. 

2 

6. Adjustment in Option. The
number of Shares subject to this Option, the Exercise Price, and other matters
are subject to adjustment during the term of this Option in accordance with
Sections 4, 6, 9, 10, 11 and 14 of the Plan. In the event of a Change of
Control, (i) this Option will automatically vest in full and (ii) any
performance conditions imposed with respect to this Option shall be deemed to be
fully achieved immediately prior to the consummation of the Change of Control.

7. Termination of Employment.

(a) In the
event of the termination of the Optionee’s employment (including due to
retirement) with the Company or any of its Subsidiaries, other than a
termination that is either (i) for Cause, or (ii) for reasons of death or
Permanent and Total Disability, all vesting of the Option shall cease and the
Optionee may exercise the vested portion of the Option at any time within a
period ending on the earlier of (a) the last day of the period ending 90 days
after such termination of employment or (b) the expiration date of this Option,
to the extent of the number of shares which were vested but not exercised or
otherwise forfeited as of the date of such termination (and thereafter this
Option shall be deemed terminated and shall not be or become exercisable).

(b) In the
event of a termination of the Optionee’s employment for Cause, this Option, to
the extent not previously exercised, shall terminate immediately and shall not
thereafter be or become exercisable. 

(c) In the
event of termination of employment because of the Optionee’s Permanent and Total
Disability, all vesting of the Option shall cease and the Optionee (or his or
her personal representative) may exercise the vested portion of the Option,
within a period ending on the earlier of (a) the last day of the one-year period
following the Optionee’s Permanent and Total Disability or (b) the expiration
date of this Option, to the extent of the number of shares which were vested but
not exercised or otherwise forfeited as of the date of such termination.

(d) In the
event of the Optionee’s death while employed by the Company or any of its
Subsidiaries or within 90 days after a termination of such employment (if such
termination was not for Cause), the appropriate persons described in Section 5
hereof or persons to whom all or a portion of this Option is transferred in
accordance with Section 4 hereof may exercise this Option, to the extent vested,
at any time within a period ending on the earlier of (a) the last day of the
twelve month period following the Optionee’s death or (b) the expiration date of
this Option. If the Optionee was an employee of the Company at the time of
death, all vesting of the Option shall cease as of the date of death, and this
Option may be so exercised to the extent of the number of shares that were
vested but not exercised or otherwise forfeited as of the date of death. If the
Optionee’s employment terminated prior to his or her death, all vesting of the
Option shall have ceased as of the date of termination, and this Option may be
exercised only to the extent of the number of shares covered by this Option
which were vested but not exercised or otherwise forfeited as of the date of
such termination. 

3 

This Option does not confer
upon the Optionee any right with respect to continuance of employment by the
Company or by any of its Subsidiaries. This Option shall not be affected by any
change of employment so long as the Optionee continues to be an employee of the
Company or one of its Subsidiaries. 

8. Compliance with Regulatory Matters. The Optionee acknowledges that the issuance of capital stock of the
Company is subject to limitations imposed by federal and state law and the
Optionee hereby agrees that the Company shall not be obligated to issue any
shares of Stock upon exercise of this Option that would cause the Company to
violate law or any rule, regulation, order or consent decree of any regulatory
authority (including without limitation the Securities and Exchange Commission)
having jurisdiction over the affairs of the Company. The Optionee agrees that he
or she will provide the Company with such information as is reasonably requested
by the Company or its counsel to determine whether the issuance of Stock
complies with the provisions described by this Section 8. 

9. Miscellaneous. 

(a) This
Agreement shall be binding upon the parties hereto and their representatives,
successors and assigns. 

(b) Unless
the context clearly indicates to the contrary, all capitalized terms used herein
shall have the meanings as set forth in this Agreement, or in the event a
capitalized term is not clearly described in this Agreement, the meanings as set
forth in the Plan. 

(c) This
Agreement is executed and delivered in, and shall be governed by the laws of,
the State of South Carolina. 

(d) Income
realized by the Optionee pursuant to this Agreement shall not be included in the
Grantee’s earnings for the purpose of any benefit plan of the entity in which
the Optionee may be enrolled or for which the Optionee may become eligible
unless otherwise specifically provided for in such plan. 

4 

(e) Any
requests or notices to be given hereunder shall be deemed given, and any
elections or exercises to be made or accomplished shall be deemed made or
accomplished, upon actual delivery thereof to the designated recipient, or three
days after deposit thereof in the United States mail, registered, return receipt
requested and postage prepaid, addressed, if to the Optionee, at the address set
forth below and, if to the Company, to the executive offices of the Company at
100 Verdae Boulevard, Suite 100, Greenville, SC, Attn: Chairperson of the
Compensation Committee. 

(f) This Agreement may not be modified except in
writing executed by each of the parties hereto. Notwithstanding the previous
sentence, the Administrator reserves the right to amend the terms of this
Agreement as may be necessary or appropriate to avoid adverse tax consequences
under Section 409A of the Code or to comply with any requirements under the
Company’s “clawback” policy regarding incentive compensation, or such “clawback”
requirements under the Sarbanes–Oxley Act of 2002 or the Dodd-Frank Wall Street
Reform and Consumer Protection Act.

[Signatures appear on the following
page.] 

5 

IN WITNESS WHEREOF, the
Board of Directors of the Company has caused this Stock Option Agreement to be
executed on behalf of the Company and the Company’s seal to be affixed hereto
and attested by the Secretary or an Assistant Secretary of the Company, and the
Optionee has executed this Stock Option Agreement under seal, all as of the day
and year first above written. 

		SOUTHERN FIRST
      BANCSHARES, INC.	
		 	
		By:				
		 				
	 	Name:			
		 				
		Title:			 
	 	 				
	 	OPTIONEE	
		 	
		By: 
    	 			
					 	
		Name:			
			 		 	
		Address: 
      		

Attachments: 

1. 2016
Equity Incentive Plan 

6Exhibit 4.7

SOUTHERN FIRST
BANCSHARES, INC.
2016 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK AWARD
GRANT NOTICE 

	Participant
      Name:		 
	                                                 	
	Company:	Southern First Bancshares, Inc.
	 
	Notice:	A summary of the terms of your grant of
      Restricted Shares is set out in this notice (the “Grant Notice”) but
      subject always to the terms of the Southern First Bancshares, Inc. 2016
      Equity Incentive Plan (the “Plan”) and the Restricted Stock Award
      Agreement (the “Award Agreement”). In the event of any inconsistency
      between the terms of this Grant Notice, the terms of the Plan and the
      Award Agreement, the terms of the Plan and the Award Agreement shall
      prevail.
	  
	Type of
      Award:	Restricted Stock Award
	  
	Stock:	Shares of common stock, $0.01 par value per share, of the
      Company
		 
	Number of
      Shares	
	of Stock
      Subject	
	to
      Grant:	                    
      	 shares
	 
	Grant
      Date:	 	 
	 
	Vesting
      Schedule:	Restricted Shares granted will vest (i.e.,
      restrictions shall lapse) in accordance with the following schedule,
      provided that you have provided continuous employment to the Company or
      any Participating Employer through each such vesting
  date:

	                                                 
      	Date	                                          	No. of
      Shares  
		                    
      		                    
      	
		                     		 	
		 		 	
		 		 	
		 		 	
		 			
		In the event of a Change of Control, all
      unvested Restricted Shares will automatically vest in full immediately
      prior to the consummation of the Change of
Control.

	Acceptance:	You acknowledge
      receipt of, and understand and agree to, this Grant Notice, the Award
      Agreement and the Plan. You further acknowledge that as of the Grant Date,
      this Grant Notice, the Award Agreement and the Plan set forth the entire
      understanding between you and the Company or any Participating Employer
      regarding the Restricted Shares and supersede all prior oral and written
      Award Agreements on the subject.
	                                                 
      	

[Signatures appear
on the following page.]

2 

IN WITNESS
WHEREOF, the Company and the
Participant have duly executed and delivered this Grant Notice as of the Grant
Date. 

	SOUTHERN FIRST BANCSHARES, INC.	                         	PARTICIPANT
	 		 
	 		  
	By:   
      	 	 	 	 	 
	 
	 		
	Print
    Name:	 		[Name]
	 		 
	Title:    	 	 		Address:     
    	 
						 
						 
						 
						 

Attachments: 

1. Restricted Stock Award
Agreement 

2. 2016 Equity Incentive Plan

3 

SOUTHERN FIRST
BANCSHARES, INC. 

Restricted Stock Award
Agreement 

Pursuant to the Restricted
Stock Grant Notice (the “Grant
Notice”) and this Restricted
Stock Award Agreement (this “Award
Agreement”), Southern First
Bancshares, Inc. (the “Company”) has granted the Participant, as identified in
the Grant Notice, the number of restricted shares of the Company’s Common Stock
under the Company’s 2016 Equity Incentive Plan (the “Plan”) indicated in the Grant Notice (the “Restricted Shares”). Capitalized terms not defined in this Award
Agreement but defined in the Plan or the Grant Notice will have the same
definitions as in the Plan or the Grant Notice, respectively. 

1. Restrictions and Vesting
Schedule. The Restricted Shares
are being awarded to Participant subject to the transfer and forfeiture
conditions set forth in this Award Agreement and the Plan (the “Restrictions”). Subject to the provisions of Section 2 below,
the Restricted Shares will vest, and Restrictions shall lapse, as provided in
the Participant’s Grant Notice. The period from the Date of Grant through the
last Vesting Date set forth in the Grant Notice is referred to as the
“Restriction
Period.” Except to the extent
vesting accelerates pursuant to the terms of the Grant Notice or Section 2
below, any unvested Restricted Shares shall be automatically forfeited upon
Participant’s Termination from Service.

2. Acceleration of Vesting
upon a Change in Control. In the
event of a Change of Control, all unvested Restricted Shares will automatically
vest in full immediately prior to the consummation of the Change of Control.

3. Assignment or Transfer of
Shares. Unless otherwise provided
by the Board, prior to the vesting of the Restricted Shares, Participant may not
directly or indirectly, by operation of law or otherwise, voluntarily or
involuntarily, sell, assign, pledge, encumber, charge or otherwise transfer any
of the Restricted Shares still subject to Restrictions. The Restricted Shares
shall be forfeited if Participant violates or attempts to violate these transfer
Restrictions. After any Stock has been released from the Restrictions,
Participant shall not directly or indirectly, by operation of law or otherwise,
voluntarily or involuntarily, sell, assign, pledge, encumber, charge or
otherwise transfer any interest in the Stock except in compliance with the
provisions herein and the provisions of applicable securities laws. 

4. Delivery of
Shares. The Company shall enter
such Award of Restricted Stock in book entry form with appropriate restrictions
noted with respect thereto. 

5. Rights of
Participant. Subject to the
provisions of this Award Agreement, Participant shall exercise all rights and
privileges of a shareholder of the Company with respect to the Restricted Shares
deposited pursuant to Section 4. Participant shall be deemed to be the holder
for purposes of receiving any dividends that may be paid with respect to such
shares of Stock and for the purpose of exercising any voting rights relating to
such shares of Stock, even if some or all of such shares of Stock have not yet
vested and been released from the Restrictions. 

4 

6. Restrictive
Legends. The Company’s book entry
notations representing the Stock shall have been noted with a legend in
substantially the following form: 

“THE SHARES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS SET FORTH IN A RESTRICTED STOCK
AWARD AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR SUCH HOLDER’S
PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF
THE COMPANY. ANY TRANSFER OR ATTEMPTED TRANSFER OF ANY SHARES SUBJECT TO SUCH
RESTRICTED STOCK AWARD IS VOID WITHOUT THE PRIOR EXPRESS WRITTEN CONSENT OF THE
COMPANY.” 

The Company shall remove or
cause the removal of the foregoing legend as and to the extent of the lapse of
the applicable Restrictions. 

7. Section 83(b)
Election. Participant understands
that Section 83(a) of the Code taxes as ordinary income the difference between
the amounts paid for the Stock and the fair market value of the Stock as of the
date any Restrictions on the Stock lapse. Participant understands that
Participant may elect to be taxed at the time the Restricted Shares are granted
rather than when and as the Restrictions lapse, by filing an election under
Section 83(b) (“83(b)
Election”) of the Code with
the Internal Revenue Service within 30 days from the Date of Grant. Even if the
fair market value of the Restricted Shares at the time of the Grant equals the
amount paid for the Stock, if any, the 83(b) Election must be made to avoid
income under Section 83(a) in the future. Participant understands that failure
to file such an 83(b) Election in a timely manner may result in adverse tax
consequences for Participant. Participant further understands that an additional
copy of such 83(b) Election is required to be filed with his or her federal
income tax return for the calendar year in which the Grant Date in connection
with this Award Agreement falls. Participant further acknowledges and understands that it is Participant’s
decision as to whether to file such 83(b) Election, and neither the Company nor
the Company’s legal or financial advisors shall have any obligation or
responsibility with respect to such filing. Participant acknowledges that the foregoing is
only a summary of the effect of United States federal income taxation with
respect to purchase of the Stock hereunder, and does not purport to be complete.
Participant further acknowledges that the Company has directed Participant to
seek independent advice regarding the applicable provisions of the Code, the
income tax laws of any municipality, state or foreign country in which
Participant may reside, and the tax consequences of Participant’s death.
Participant assumes all responsibility for filing an 83(b) Election and paying
all taxes resulting from such election or the lapse of the Restrictions on the
Stock. 

8. Refusal to
Transfer. The Company shall not
be required to transfer on its books any shares of Stock of the Company which
shall have been transferred in violation of any of the provisions set forth in
this Award Agreement.

9. No Employment
Rights. This Award Agreement is
not an employment contract and nothing in this Award Agreement shall confer upon
the Participant any right to continued employment with or service to the Company or any Subsidiary, as the case
may be, nor shall it interfere in any way with the right of the Company or any
Subsidiary to terminate the employment or service of the Participant at any
time. 

10. Governing Plan
Document. The Restricted Shares
granted hereunder are subject to all the provisions of the Plan, the provisions
of which are hereby incorporated by reference herein, and is further subject to
all interpretations, amendments, rules and regulations which may from time to
time be promulgated and adopted pursuant to the Plan. Capitalized terms used
herein and not defined shall have the meanings assigned in the Plan. In the
event of any conflict between the provisions of this Award Agreement and those
of the Plan, the provisions of the Plan shall control. 

5 

11. Adjustments. The Restricted Shares shall be subject to
adjustments as provided in Sections 4, 9, 10, 11 and 14 of the Plan. 

12. Acknowledgements. No
waiver of any breach of any provision of this Award Agreement by the Company
shall be construed to be a waiver of any succeeding breach or as a modification
of such provision. 

13. Miscellaneous.

(a) Notices. All notices required
or permitted hereunder shall be in writing and shall be deemed effectively
given: (a) when personally delivered to the party to be notified; (b) when sent
by confirmed facsimile to the party to be notified; (c) five business days after
deposit in the United States Mail postage prepared by certified or registered
mail with return receipt requested at any time other than during a general
discontinuance of postal service due to strike, lockout, or otherwise (in which
case notice, request, waiver or other communication shall be effectively given
upon receipt) and address to the party to be notified as set forth above; or (d)
two business days after deposit with a national recognized overnight delivery
service, postage prepaid, addressed to the party to be notified as set forth
above with next-business-day delivery guaranteed. A party may change its notice
address by giving the other party ten days’ written of the new address in the
manner set forth above.

(b) Successors and
Assigns. This Award Agreement shall inure to the benefit of
the successors and assigns of the Company and, subject to the restrictions on
transfer herein set forth, be binding upon Participant, Participant’s
successors, and assigns.

(c) Governing Law. This Award
Agreement shall be governed by and construed in accordance with the laws of the
State of South Carolina, without reference to principles of conflict of
laws.

(d) Entire Award Agreement;
Amendment. This Award Agreement, along with the Grant Notice and the Plan
constitute the entire Award Agreement between the parties with respect to the
subject matter hereof and supersedes and merges all prior agreements or
understandings, whether written or oral. This Award Agreement may only be
amended as described in Section 11 of the Plan. 

6 

ATTACHMENT A

ELECTION UNDER SECTION
83(B)
OF THE INTERNAL REVENUE CODE OF 1986 

The undersigned taxpayer
hereby elects, pursuant to §83(b) of the Internal Revenue Code, to include in
taxpayer’s gross income or alternative minimum tax income, as applicable, for
the current taxable year, the amount of any income that may be taxable to
taxpayer in connection with taxpayer’s receipt of the property described below:

	1.	      
      	The taxpayer’s name, address and taxpayer
      identification number are as follows:
			 
			Name:
			Address:
			 
			SS#
			 
	2.	 	Description of property with respect to which
      the election is being made:
			 
			__________ shares
      of Common Stock of Southern First Bancshares, Inc., a South Carolina
      corporation (the “Company”), granted
      pursuant to a Restricted Stock Award under the Company’s Equity Incentive
      Plan.
		 	
	3.		The date on which the property was transferred
      is.
			 
			The taxable year
      for which the election is made is calendar year.
			 
	4.		The property is subject to the following
      restrictions:
			 
			The Restricted
      Shares are subject to a vesting schedule pursuant to which restrictions on
      transfer will lapse.
			 
	5.		The fair market value at time of
      transfer (determined without regard to any restriction other than a
      restriction which by its terms will never lapse) of such property is
      $_________.
			 
	6.		Furnishing statement to
    employer:
			 
			A copy of this
      statement has been furnished to the
Company.

	Dated: 	 
		             
      Taxpayer:

7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}]]