Document:

Exhibit 10.29

     

    Exhibit
      10.29

    RESTRICTED
      STOCK AGREEMENT

     

    THIS
      RESTRICTED STOCK AGREEMENT (the
      “Agreement”),
      effective as of _________ 20XX (the “Effective
      Date”),
      is
      between SCBT
      FINANCIAL CORPORATION, a
      South
      Carolina corporation (the “Corporation”),
      and
      __________, an individual residing in ______County, South Carolina
      (“Employee”).

     

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

     

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

     

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

     

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

     

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

     

    “The
      shares represented by this certificate are subject to the terms of a Restricted
      Stock Agreement effective as of ________ 20XX, a copy of which is available
      at
      the principal office of the corporation.”

     

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

     

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

     

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

     

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

     

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

    

    (d)  on
      the
      fourth anniversary of the Effective Date, to the extent of any and all unvested
      Shares as of such date; and

     

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

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

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

     

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

     

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

     

    Section
      6.  Taxes.

     

    (a)  If
      Employee properly elects, within 30 days of the date on which he acquires the
      Shares, to include in gross income for federal income tax purposes an amount
      equal to the fair market value (as of the date of issuance) of the Shares
      granted pursuant to this Agreement, Employee shall pay to the Corporation,
      in
      the year of this Agreement, all federal, state and local taxes required to
      be
      withheld with respect to the grant of the Shares. If Employee fails to make
      such
      tax payments as required, the Corporation shall, to the extent permitted by
      law,
      have the right to deduct from any payment of any kind otherwise due to Employee
      all federal, state and local taxes of any kind required by law to be withheld
      with respect to the Shares.

     

    (b)  If
      Employee does not make the election described in subparagraph (a) of this
      section, he shall, on the date as to which the restrictions described in
Section 3
      shall
      lapse as to any Shares, pay to the Corporation all federal, state and local
      taxes of any kind required by law to be withheld with respect to such vested
      Shares. If Employee fails to make such payments as required, the Corporation
      shall, to the extent permitted by law, have the right to deduct from any payment
      of any kind otherwise due to Employee all federal, state and local taxes of
      any
      kind required by law to be withheld with respect to such vested
      Shares.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    Section
      7.  Miscellaneous.

     

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

     

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

     

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

     

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

     

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

    

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

     

    
       

       

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

      

       

       

      
        	 	 	 
	 	EMPLOYEE
	 
 	 
 	 
 
	 	 	 
	 	
                
Signature
	 	 
	
                Print
                  Name:

              	 
	 	
                

              
	
                Date
                  signed:

              	 
	 	
                

              

      

       

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exhibit
      A

    

    Stock
      Incentive PlanExhibit 10.30

    Exhibit
      10.30

    

      SCBT
        FINANCIAL CORPORATION

      STOCK
        OPTION AGREEMENT

       

      THIS
        AGREEMENT,
        made
        this___day of ___ 20XX, by and between SCBT
        Financial Corporation
        (“Corporation”), a South Carolina corporation with its principal offices located
        in Columbia, South Carolina, and ______________________________
        (“Participant”).

       

      WITNESSETH:

       

      WHEREAS,
        the
        Corporation has adopted the 2004 SCBT Financial Corporation Stock Incentive
        Plan
        (the “Plan”); and

       

      WHEREAS,
        the
        Committee under the Plan has determined that the Participant shall be granted
        certain options under the Plan.

       

      NOW,
        THEREFORE,
        in
        consideration of the foregoing and other good and valuable consideration,
        the
        receipt of which is hereby acknowledged, the parties hereto agree as
        follows:

       

      1.  Grant
        of Option.
        The
        Corporation hereby grants to the Participant an option (“Option”) to purchase
        _____________ shares of the Common Stock of the Corporation, upon the terms
        and
        conditions set forth below and in the Plan. The date of such grant is
        _________________. The Option shall be a Non-Qualified Stock
        Option.

       

      2.  Option
        Price.
        The
        Option shall be exercisable at a price of __________________ ($________)
        per
        share.

       

      3.  Terms
        of Purchase.
        Purchase
        of any shares pursuant to the Participant’s exercise of the Option shall be made
        in accordance with the provisions of the Plan.

       

      4.  Period
        of Option.
        The
        Option shall be exercisable from the date hereof until the earlier of (i)
        ten
        (10) years from the date of grant of the Option, and (ii) in the event of
        the
        Participant’s death, upon the expiration of two (2) years from the date of
        death.

       

      5.  Nontransferability.
        The
        Option is not transferable by the Participant, in whole or in part, to any
        person, except by Will or by any applicable law of descent and distribution.
        The
        Option shall not be exercisable, in whole or in part, during the lifetime
        of the
        Participant by any person other than the Participant.

       

      6.  Construction.
        This
        Agreement shall be construed in accordance with the laws of the State of
        South
        Carolina.

       

      7.  Status
        as Director.
        Neither
        this Agreement nor the Plan shall be construed to constitute an agreement
        or
        understanding, expressed or implied, on the part of the Corporation or any
        subsidiary, that the Participant is entitled to continue to serve as a
        director.

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

      8.  Withholding.
        As a
        condition to the issuance of shares pursuant to any exercise of this Option,
        the
        Participant authorizes the Corporation and its subsidiaries to withhold,
        in
        accordance with applicable law from any cash compensation payable to him,
        any
        taxes required to be withheld as a result of such exercise or later disposition
        of stock.

       

      9.  Legal
        Restrictions.
        This
        Option may not be exercised if the issuance of shares pursuant to such exercise
        would constitute a violation of applicable federal or state securities or
        other
        law or regulation. The person exercising the Option, as a condition to such
        exercise, shall represent to Corporation that the shares acquired thereby
        are
        being acquired for investment and not with a present view to distribution
        or
        resale, unless counsel for the Corporation is then of the opinion that such
        representation is not required under the Securities Act of 1933 or any other
        applicable law, regulation or rule of any governmental agency.

       

      10.  Binding
        Effect.
        This
        Agreement shall be binding upon and inure to the benefit of the Participant
        and
        his heirs, and shall be binding upon the Corporation and its successors and
        assigns.

       

      11.  Incorporation
        of Plan.
        This
        Agreement is made pursuant to and is subject to the terms and conditions
        of the
        Plan, which terms and conditions are hereby incorporated by reference
        herein.

       

      IN
        WITNESS WHEREOF,
        the
        Corporation, by its authorized representative, and the Participant do hereby
        affix their signatures on the date first written above.

       

      
        	ATTEST:	 	 	
                SCBT
                  FINANCIAL CORPORATION

                 

              
	 	 	 	 
	
                
Corporate
                Secretary	 	 	
                
                  

                

                Name:
                  Robert R. Hill, Jr.

              
	 	 	 	
                Title: President
                  and Chief Executive Officer

              
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	
                
Participant

      

       

       

      
        
          
          

        

        
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