Document:

Form of Rights Certificate

 Exhibit 4.5 

 

 

 METHOD TO EXERCISE RIGHTS 
 IN ORDER TO EXERCISE YOUR SUBSCRIPTION RIGHTS, YOU MUST PROPERLY COMPLETE AND SIGN THIS SUBSCRIPTION RIGHTS CERTIFICATE ON THE BACK AND RETURN IT IN THE
ENVELOPE PROVIDED TO THE ESCROW AGENT, TOGETHER WITH PAYMENT IN FULL FOR AN AMOUNT EQUAL TO THE EXERCISE PRICE MULTIPLIED BY THE TOTAL NUMBER OF SHARES OF COMMON STOCK THAT YOU ARE REQUESTING TO PURCHASE TO THE DEALER MANAGER, BEFORE 5:00 P.M.,
EASTERN TIME, ON APRIL 16, 2010. 
 DELIVERY INSTRUCTIONS FOR RIGHTS CERTIFICATE 
 Please complete all applicable information and return to the Escrow Agent: 
 Pacific Coast Bankers’ Bank 
 340 Pine Street, Suite 401, San Francisco, California 94104 
 Attention:
Bank of Florida Corporation Escrow Account 
 Checks, bank drafts and money orders must be made payable to:

 “Pacific Coast Bankers’ Bank as escrow agent for Bank of Florida Corporation” 
 DELIVERY OF THIS SUBSCRIPTION RIGHTS CERTIFICATE TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE DOES NOT CONSTITUTE A VALID DELIVERY. 
  

									
	 PLEASE PRINT ALL INFORMATION CLEARLY
AND LEGIBLY
  

	SECTION 1:                    OFFERING INSTRUCTIONS (check the appropriate boxes)
	IF YOU WISH TO SUBSCRIBE FOR YOUR FULL ENTITLEMENT OF
SUBSCRIPTION RIGHTS:
	 		 
	 ̈	 	I apply for ALL of my entitlement of shares
                                         
       x    $                    =    $   
             	 	 
	 	 	Pursuant to the basic subscription                 (no. of subscription
rights)         (per share)	 	 
	 
	EXAMPLE: If you own 1,000 shares of common stock, your
basic subscription right permits the purchase of 3,000 shares.
	 		 
	 ̈	 	In addition, I apply for additional shares pursuant to the
                                         
             x $                    =	 	$                
	 	 	Oversubscription
Opportunity                                       
      (no. of additional shares)               (per share)	 	 
	 	 
	IF YOU DO NOT WISH TO APPLY FOR YOUR FULL ENTITLEMENT OF SUBSCRIPTION RIGHTS:	 	 
	 		 
	 ̈	 	I apply
for                                         
                                         
                                         
           x $                    =	 	$                
	 	 	                                       
                                         
                    (no. of new
shares)                       (per share)	 	 
	 		 
	 	 	 Amount of check or money order enclosed
	 	$                
	 
	 IF YOU DO NOT WISH TO EXERCISE YOUR RIGHT TO SUBSCRIBE:
 Please disregard this
mailing.
  

	 
	 SECTION
2:                    SUBSCRIPTION AUTHORIZATION:

	 
	 I/We hereby irrevocably subscribe for the number of shares of common stock that I/we have indicated above on this Subscription Rights Certificate in accordance with the terms and conditions specified
in this Prospectus.
  
 I/We hereby acknowledge
receipt of the Prospectus and understand that after delivery to the Dealer Manager.
  
 I/we may not modify or revoke this Subscription Rights Certificate.
  
 Signature: This form must be signed by the registered holder(s) exactly as their name(s) appears on this Subscription Rights
Certificate or by person(s) authorized to sign on behalf of the registered holder(s) by documents transmitted herewith.

	 
	 Signature of Subscriber(s)
  

	 (and address if different than that listed on this Subscription Rights Certificate)
  

	 
	 
	 
	 Telephone Number (including area
code)                                        
                                         
             
  

 For a more complete description of the terms and conditions of this Rights Offering, please refer to the Prospectus, which you should read carefully in its entirety. The Prospectus is incorporated
herein by this reference. 
 Any questions regarding this Subscription Rights Certificate and Rights Offering may be directed to the
Information Agent, Regan & Associates, Inc., toll free at 1-800-737-3426. 
  

									
		  	 ABnote North America
 711 ARMSTRONG LANE
 COLUMBIA, TENNESSEE 38401
 (931)
388-3003
	 		  	  
 PROOF OF: MARCH 5, 2010
 BANK OF FLORIDA
 TSB 01226 BK
	 	
		  	SALES: DENISE LITTLE    931-490-1706	 		  	OPERATOR: JB	 
		  	 	 		  	Rev 1	 	

 PLEASE INITIAL THE APPROPRIATE SELECTION FOR THIS PROOF:         OK
AS IS          OK WITH CHANGES          MAKE CHANGES AND SEND ANOTHER PROOFEscrow Agreement

 Exhibit 10.8 
 ESCROW ACCOUNT AGREEMENT 
 This Escrow Account Agreement (the
“Agreement”) is made as of                      by and among Bank of Florida Corporation, a Florida Corporation (“Company”),
                    , a member of the Financial Industry Regulatory Authority and a placement agent for the Company (“AAA”),
                    , a member of the Financial Industry Regulatory Authority and the dealer manager and a placement agent for the Company
(“BBB”) and Pacific Coast Bankers’ Bank, a California banking corporation (“Escrow Agent”). 
  

	 	1.	Recitals of Fact. 

 It is anticipated that Company will offer shares of its stock for sale in a public offering registered with U.S. Securities and Exchange Commission (consisting of both a rights offering and a supplemental, best efforts offering) (the
“Offering”). The Company intends to provide the investors with a Prospectus describing the terms of the Offering (the “Prospectus”). Company desires that all funds received from various persons (the “Subscribers”) as
subscriptions for shares of Company’s stock be placed in an Escrow account with a bank or trust company authorized to do business in Florida, and desires that Escrow Agent act as the depository for such funds pursuant to the terms of the
Prospectus and all applicable laws and regulations. Company intends at this time to issue and sell a minimum of                      shares and a
maximum of                      shares of its stock at a price of
$                     per share and to deposit all funds received from the Subscribers as subscriptions for such shares with Escrow Agent as
depository. 
  

	 	2.	Appointment of Escrow Agent as Escrow Agent. 

 Company, AAA and BBB hereby appoint Pacific Coast Bankers’ Bank as Escrow Agent and Pacific Coast Bankers’ Bank hereby accepts such appointment, subject to the terms and conditions set forth in
this Agreement. 
  

	 	3.	Subscription Funds Held in Escrow Account. 

 All funds received from the issuance of shares of Company’s stock will be placed in an escrow account with Escrow Agent, to be held by Escrow Agent. Such funds shall not become the property of or be
released to Company unless and until Company has sold the minimum of                      shares of common stock. The Offering will end on the
earlier of (i) April       , 2010 (unless extended) (ii) the date on which Company sells its final shares totaling
                     or (iii) such earlier date on which Company decides to close Offering. 
  

	 	4.	Subscriptions for Shares. 

 a. Subscription agreements and subscription rights for shares of Company’s stock will be completed and submitted to Escrow Agent in duplicate, along with checks and other payment orders for the
amount of the subscriptions. Checks and other payment orders shall be made payable to “Pacific Coast Bankers’ Bank as Escrow Agent for Bank of Florida Corporation.” Company will inform Escrow Agent of its intent to accept or reject
subscriptions or to accept a subscription in part. If any subscriptions are rejected or accepted only in part, Escrow Agent will refund the rejected amount to the Subscriber. Upon a closing of the Offering, Escrow Agent will

  

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return the original subscription agreements and rights certificates to the Company and retain one copy for Escrow Agent’s records. 
 b. Checks and other payment orders received by AAA or BBB from Subscribers shall be transmitted to the Escrow Agent by noon
of the next business day after receipt by AAA or BBB. 
  

	 	5.	Investment of Escrow Funds. 

 All funds received from Subscribers as subscriptions for shares of Bank’s stock which are accompanied by copies of executed subscription agreements or rights certificates will be placed in an escrow
account (the “Escrow Account”) with Escrow Agent, to be held by Escrow Agent in the manner provided in this Agreement. 
 The Escrow Account shall be a noninterest-bearing transaction account that is eligible for FDIC insurance coverage for the full amount deposited therein. Escrow Agent shall not be liable or responsible
for any loss resulting investments made pursuant to this Section 5, except for losses which result from the gross negligence or intentional misconduct of Escrow Agent. 
  

	 	6.	Term. 

 This Escrow Agreement shall commence as of the date set forth above and shall expire upon distribution of the Escrow Account as described in Section 7, below. 
  

	 	7.	Distribution. 

  

	 	a.	Upon receipt of a notice from Company, AAA and BBB to Escrow Agent that the minimum of
                     shares of Company’s common stock have been fully subscribed, Escrow Agent will release all funds (including interest earned
thereon) in the Escrow Account to Company on the first closing date, pursuant to Company’s, AAA’s and BBB’s written instruction signed by an officer of each. 

  

	 	b.	If Company has not sold the minimum shares required by
                     (or later if extended) and directs Escrow Agent to distribute the Escrow Account to the Subscribers, then the Escrow Agent shall
be distributed to the Subscribers as follows: each Subscriber shall receive full amount of his or her subscription, without interest and without deduction for expenses. 

  

	 	c.	In the event that the Escrow Account is distributed pursuant to Section 7b, above, all remaining obligations of Company described in Sections 9, 10a, 10b and 10e
shall, without any further notice, become the obligations of the Company. The obligations created pursuant to this Section 7c shall continue after the expiration of this Agreement. 

  

	 	8.	Information to Company. 

 As often as daily, Escrow Agent will provide Company with on-line access to information relative to the total number of subscriptions received pursuant to this Agreement together with the aggregate number
of shares for which subscriptions have been received and the total amount of funds received and collected. Company shall be permitted to share such access with AAA and BBB. Upon termination or expiration of this Agreement, Escrow Agent shall provide
an accounting of funds received, invested and disbursed pursuant to this Agreement together with a

  

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list of Subscriber names and addresses and the number of shares purchased by each Subscriber, and shall return all original subscription agreements and subscription rights to Company. 

 

	 	9.	Unpaid Checks. 

 In the event that any check received by Escrow Agent is returned unpaid by the drawee bank, Escrow Agent will resubmit the check to the drawee financial institution for repayment. In the event that any such resubmitted check is returned
unpaid a second time, Escrow Agent may withdraw from the funds held by it pursuant to this Agreement the amount of that check together with an amount representing the applicable savings rate payable on the amount of the check for the period during
which the funds are credited as available funds under this Agreement. Escrow Agent shall forward any such check to Company endorsed to Company without recourse. In the event that any such check is returned to Escrow Agent as unpaid after the funds
represented thereby have been distributed to any person, upon notification by Escrow Agent Company shall promptly pay the amount of that check to Escrow Agent and Escrow Agent shall forward the check to Company endorsed to Company without recourse.

  

	 	10.	Rights of Escrow Agent. 

 a. The Company agrees to pay the regular fees of Escrow Agent, as stated on the attached fee schedule, as well as any reasonable fees for extraordinary services performed by Escrow Agent pursuant to this
Agreement and agreed to in writing by Company. The Company also agrees to pay and/or reimburse Escrow Agent for its reasonable expenses and disbursements, including those of its agents, consultants and attorneys. The obligations described in this
section shall continue notwithstanding the expiration or termination of this Agreement for any reason. 
 b. If
conflicting demands are made or notices served by parties other than the Company (including AAA or BB) upon Escrow Agent with respect to the Escrow Account, Escrow Agent shall be entitled to refuse to comply with any such claim or demand and to
suspend performance of this Agreement so long as such disagreements shall continue; in so doing Escrow Agent shall not be held liable for damages or interest to the Company or to any person (including but not limited to Subscribers) for failure to
comply with such conflicting or adverse demands, Escrow Agent shall be entitled to continue to refrain and refuse to act until: 
 (i) the rights of the adverse claimants have been finally adjudicated in a court assuming and having jurisdiction of the parties and/or the money, papers, and property involved in the claim or demand;
and/or 
 (ii) all differences have been settled by mutual agreement and Escrow Agents has been notified of the
settlement in a writing signed by all of the interested persons. 
 In the alternative, Escrow Agent may file a
suit in interpleader for the purpose of having the respective rights of the claimants adjudicated, and deposit with the court all money, papers, and property held pursuant to this Agreement, and the Company agrees to pay all costs, expenses and
reasonable attorney’s fees incurred by Escrow Agent in connection therewith, the amount thereof to be fixed and a judgment thereof to be rendered by the court in such suit; provided, however, that nothing in this Section (10b) shall affect
the obligations of the Company and Escrow Agent to immediately comply with all orders, demands and notices issued by the Regulatory Agency. 
  

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 c. Escrow Agent shall act as a depository only and is not responsible or
liable in any manner whatever for the sufficiency, correctness, genuineness or validity of any instrument deposited with it pursuant to this Agreement, or with respect to the form or execution of any such instrument, or the identity, authority, or
rights of any person executing or depositing any such instrument. 
 d . The Company agrees to hold harmless and
indemnify Escrow Agent, its directors, officers, employees and agents for any loss, cost, liability, damage or expense, including reasonable attorneys’ fees and expenses, arising out of or relating to this Agreement, the Escrow Account, the
performance of Escrow Agent’s duties under this Agreement, or to any offering circular, disclosure document or any subscription agreement relating to this Agreement; provided, however, that no indemnification will be made for any act of willful
misconduct or gross negligence of Escrow Agent. 
 e. Escrow Agent: 
 (i) shall be deemed conclusively to have given and delivered any notice required to be given or delivered by it pursuant to
this Agreement if the same is in writing, signed by any one of Escrow Agent’s authorized officers and mailed to Company at the addresses set forth in this Agreement; 
 (ii) shall be entitled to consult with legal counsel and shall not be liable for any action taken or omitted by that counsel;

 (iii) shall not, by act, delay, omission or otherwise, be deemed to have waived any rights or remedies under
this Agreement unless such waiver is in a writing signed by Escrow Agent; a waiver by Escrow Agent of any right or remedy on any one occasion shall not be construed as a bar to or waiver of any such right or remedy on any future occasion;

 (iv) shall not be liable for any action taken or omitted to be taken in good faith, and shall be liable only
for its own gross negligence or willful misconduct; 
 (v) shall be entitled to rely on any paper, request,
certificate, schedule, notice or other document which it in good faith believes to be genuine and to have been signed or adopted by the proper party or parties; 
 (vi) shall under no circumstances be required to risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it, 
 (vii) shall have no duties or responsibilities except those expressly set forth in this Agreement, and the permissive right
of Escrow Agent to do things or omit to do things as set forth in this Agreement shall not be construed as a duty. 
  

	 	11.	Representations Regarding Escrow Agent. 

 Company represents and agrees that it has not made nor will it in the future make any

  

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representation that states or implies that Escrow Agent has endorsed, recommended or guaranteed the purchase, value, or repayment of the securities offered for sale by Company. 
  

	 	12.	Miscellaneous. 

 a. This Agreement may be amended only by the written agreement of the Company and Escrow Agent. This Agreement shall be governed by the laws of the State of California. 
 b. This Agreement represents the entire agreement between Company and Escrow Agent. 
 If Company or any of its officers, directors or agents has executed any other agreements or documents relating to the
subject matter of this Agreement, or if any agreement is deposited under or arises out of this Agreement, Escrow Agent shall not be deemed a party to or be responsible for any provision thereof unless expressly set forth in this Agreement or in a
Schedule to this Agreement. Escrow Agent shall be under no duty to enforce any such other agreement. In case of any conflict between this Agreement and any such other agreement or document or any Schedule thereto, the provisions of this Agreement
shall be controlling. 
 c. This Agreement may be executed and entered into in several counterparts, each of
which shall be deemed to be an original, and all of which shall constitute but one and the same instrument. 
 d. Escrow Agent will not resign as Escrow Agent under this Agreement after the receipt of any funds from Subscribers without the express written consent of Company. 
 e. Any notice, report, demand, waiver or consent required or permitted pursuant to this Agreement shall be in writing and
shall be given by prepaid first class mail, addressed as follows: 
  

 5 

 Escrow Agent: 
 Mail Instructions 
 340 Pine Street, Suite 401 
 San Francisco, CA 94104 
 Attention: Escrow Account 
 Wire Instructions 
 Pacific Coast Bankers’ Bank

 ABA No. 121042484 
 Attention: Escrow Account FBO 
 Further Credit: Investor Name/Registration 
 To Company:

 Tracy L. Keegan, Chief Financial Officer 
 Bank of Florida Corporation 
 1185 Immokalee Road 
 Naples, Florida 34110 
 239-254-2147 
 tkeegan@bankofflorida.com 
 To AAA: 
 To BBB: 
  

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 IN WITNESS WHEREOF, Company, AAA, BBB and Escrow Agent have executed the Agreement on the day and year first
written above. 
  

	
	 Bank of Florida Corporation
 (“Company”)

	
	  
	 By:
 Its:

	
	 AAA
 (“AAA”)

	
	  
	 By:
 Its:

	
	 BBB
 (“BBB”)

	
	  
	 By:
 Its:

	
	 Pacific Coast Bankers’ Bank
 (“Escrow Agent”)

	
	  
	 By:    Tracy Holcomb
 Its:    Executive Vice President & COO

  

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 SCHEDULE OF FEES 
  

			
	 Schedule of Fees – Settlement Relationship
	 	
		
	 Basic Escrow Account Fee
	 	 $2,500.00

		
	 Subscription Fee
	 	 $10.00 per Subscription

		
	 Rejected/Return Subscription Fee
	 	 $10.00 per Subscription

		
	 Return Checks
	 	 $10.00 per check

		
	 Miscellaneous Fees at cost:
	 	 Postage
 Envelopes

		 	 Address Stamp

		 	 Overnight Mail

 Fees are due and payable upon the release of funds to Company 
  

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