Document:

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                                                                   Exhibit 10.6

                                ESCROW AGREEMENT

         THIS ESCROW AGREEMENT (this "Agreement") is entered into and effective
as of the     day of          , 2002, by and between Tidelands Bancshares, Inc.,
a South Carolina Corporation (the "Company"), and Lowcountry National Bank, a
national banking association (the "Escrow Agent").

                                  WITNESSETH:

         WHEREAS, the Company proposes to offer and sell (the "Offering") up to
1,000,000 shares of Common Stock, $0.01 par value per share (the "Shares"), to
investors at $10.00 per Share pursuant to a registered public offering; and

         WHEREAS, the Company desires to establish an escrow for funds
forwarded by subscribers for Shares, and the Escrow Agent is willing to serve
as Escrow Agent upon the terms and conditions herein set forth.

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

         1.       DEPOSIT WITH ESCROW AGENT.

         (a)      The Escrow Agent agrees that it will from time to time
accept, in its capacity as escrow agent, subscription funds for the Shares (the
"Escrowed Funds") in the form of checks received by the Company from
subscribers. All checks shall be made payable to the Escrow Agent. If any check
does not clear normal banking channels in due course, the Escrow Agent will
promptly notify the Company. Any check which does not clear normal banking
channels and is returned by the drawer's bank to Escrow Agent will be promptly
turned over to the Company along with all other subscription documents relating
to such check. Any check received that is made payable to a party other than
the Escrow Agent shall be returned to the Company for return to the proper
party. The Company in its sole and absolute discretion may reject any
subscription for shares for any reason and upon such rejection it shall notify
and instruct the Escrow Agent in writing to return the Escrowed Funds by check
made payable to the subscriber.

         (b)      Subscription agreements for the Shares shall be reviewed for
accuracy by the Company and, immediately thereafter, the Company shall deliver
to the Escrow Agent the following information: (i) the name and address of the
subscriber; (ii) the number of Shares subscribed for by such subscriber; (iii)
the subscription price paid by such subscriber; (iv) the subscriber's tax
identification number certified by such subscriber; and (v) a copy of the
subscription agreement.

         2.       INVESTMENT OF ESCROWED FUNDS. Upon collection of each check
by the Escrow Agent, the Escrow Agent shall invest the funds in deposit
accounts or certificates of deposit which are

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fully insured by the Federal Deposit Insurance Corporation or another agency of
the United States government, short-term securities issued or fully guaranteed
by the United States government, or such other investments as the Escrow Agent
and the Company shall agree. The Company shall provide the Escrow Agent with
instructions from time to time concerning in which of the specific investment
instruments described above the Escrowed Funds shall be invested, and the
Escrow Agent shall adhere to such instructions. Interest and other earnings
shall start accruing on such funds as soon as such funds would be deemed to be
available for access under applicable banking laws and pursuant to the Escrow
Agent's own banking policies.

         3.       DISTRIBUTION OF ESCROWED FUNDS. The Escrow Agent shall
distribute the Escrowed Funds in the amounts, at the times, and upon the
conditions hereinafter set forth in this Agreement.

         (a)      If at any time on or prior to the expiration date of the
offering as described in the prospectus relating to the Offering, (the
"Offering Termination Date"), (i) the Escrow Agent has certified to the Company
in writing that the Escrow Agent has received at least $      in Escrowed Funds,
and (ii) the Escrow Agent has received a certificate from the President or the
Chairman of the Board of the Company that all other conditions to the release
of funds as described in the Company's prospectus relating to the Offering as
filed with the Securities and Exchange Commission have been met, then the
Escrow Agent shall deliver the Escrowed Funds to the Company to the extent such
Escrowed Funds are collected funds (the "Closing Date"). If any portion of the
Escrowed Funds are not collected funds, then the Escrow Agent shall notify the
Company of such facts and shall distribute such funds to the Company only after
such funds become collected funds. For purposes of this Agreement, "collected
funds" shall mean all funds received by the Escrow Agent, which have cleared
normal banking channels.

         (b)      If the Escrowed Funds do not, on or prior to the Offering
Termination Date, become deliverable to the Company based on failure to meet
the conditions described in Paragraph 3(a), or if the Company terminates the
offering at any time prior to the Offering Termination Date and delivers
written notice to the Escrow Agent of such termination (the "Termination
Notice"), the Escrow Agent shall return the Escrowed Funds, without interest,
which are collected funds as directed in writing by the Company to the
respective subscribers in amounts equal to the subscription amount theretofore
paid by each of them. All uncleared checks representing Escrowed Funds which
are not collected funds as of the initial Closing Date shall be collected by
the Escrow Agent, and together with all related subscription documents thereof
shall be delivered to the Company by the Escrow Agent, unless the Escrow Agent
is otherwise specifically directed in writing by the Company.

         4.       DISTRIBUTION OF INTEREST. Any interest earned on the Escrowed
Funds shall be retained by the Company.

         5.       FEE OF ESCROW AGENT. The escrow agent will accrue a service
charge of $15.00 per month. In addition, a $20.00 per check fee will be charged
if the escrow account has to be refunded due to a failure to complete the
subscription. All of these fees are payable upon the release of the Escrowed
Funds, and the Escrow Agent is hereby authorized to deduct such fees from the
Escrowed Funds prior to any release thereof pursuant to Section 3 hereof.

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         6.       LIABILITY OF ESCROW AGENT.

         (a)      In performing any of its duties under the Agreement, or upon
the claimed failure to perform its duties hereunder, the Escrow Agent shall not
be liable to anyone for any damages, losses or expenses which it may incur as a
result of the Escrow Agent so acting, or failing to act; provided, however, the
Escrow Agent shall be liable for damages arising out of its willful default or
misconduct or its gross negligence under this Agreement. Accordingly, the
Escrow Agent shall not incur any such liability with respect to (i) any action
taken or omitted to be taken in good faith upon advice of its counsel or
counsel for the Company which is given with respect to any questions relating
to the duties and responsibilities of the Escrow Agent hereunder; or (ii) any
action taken or omitted to be taken in reliance upon any document, including
any written notice or instructions provided for in this Escrow Agreement, not
only as to its due execution and to the validity and effectiveness of its
provisions but also as to the truth and accuracy of any information contained
therein, if the Escrow Agent shall in good faith believe such document to be
genuine, to have been signed or presented by a proper person or persons, and to
conform with the provisions of this Agreement.

         (b)      The Company agrees to indemnify and hold harmless the Escrow
Agent against any and all losses, claims, damages, liabilities and expenses,
including, without limitation, reasonable costs of investigation and counsel
fees and disbursements which may be imposed by the Escrow Agent or incurred by
it in connection with its acceptance of this appointment as Escrow Agent
hereunder or the performance of its duties hereunder, including, without
limitation, any litigation arising from this Escrow Agreement or involving the
subject matter thereof; except, that if the Escrow Agent shall be found guilty
of willful misconduct or gross negligence under this Agreement, then, in that
event, the Escrow Agent shall bear all such losses, claims, damages and
expenses.

         (c)      If a dispute ensues between any of the parties hereto which,
in the opinion of the Escrow Agent, is sufficient to justify its doing so, the
Escrow Agent shall retain legal counsel of its choice as it reasonably may deem
necessary to advise it concerning its obligations hereunder and to represent it
in any litigation to which it may be a part by reason of this Agreement. The
Escrow Agent shall be entitled to tender into the registry or custody of any
court of competent jurisdiction all money or property in its hands under the
terms of this Agreement, and to file such legal proceedings as it deems
appropriate, and shall thereupon be discharged from all further duties under
this Agreement. Any such legal action may be brought in any such court as the
Escrow Agent shall determine to have jurisdiction thereof. In connection with
such dispute, the Company shall indemnify the Escrow Agent against its court
costs and reasonable attorney's fees incurred.

         (d)      The Escrow Agent may resign at any time upon giving thirty
(30) days written notice to the Company. If a successor escrow agent is not
appointed by Company within thirty (30) days after notice of resignation, the
Escrow Agent may petition any court of competent jurisdiction to name a
successor escrow agent, and the Escrow Agent herein shall be fully relieved of
all liability under this Agreement to any and all parties upon the transfer of
the Escrowed Funds and all related documentation thereto, including appropriate
information to assist the successor escrow agent with the reporting of earnings
of the Escrowed Funds to the appropriate state and federal agencies in
accordance with the applicable state and federal income tax laws, to the
successor escrow agent designated by the Company appointed by the court.

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         7.       APPOINTMENT OF SUCCESSOR. The Company may, upon the delivery
of thirty (30) days' written notice appointing a successor escrow agent to the
Escrow Agent, terminate the services of the Escrow Agent hereunder. In the
event of such termination, the Escrow Agent shall immediately deliver to the
successor escrow agent selected by the Company all documentation and Escrowed
Funds including interest earnings thereon in its possession, less any fees and
expenses due to the Escrow Agent or required to be paid by the Escrow Agent to
a third party pursuant to this Agreement.

         8.       NOTICE. All notices, requests, demands and other
communications or deliveries required or permitted to be given hereunder shall
be in writing and shall be deemed to have been duly given three days after
having been deposited for mailing if sent by registered mail, or certified mail
return receipt requested, or delivery by courier, to the respective addresses
set forth below:

IF TO THE SUBSCRIBERS FOR SHARES:     To their respective addresses as specified
                                      in their Subscription Agreements.

THE COMPANY:                          Tidelands Bancshares, Inc.
                                      875 Lowcountry Boulevard
                                      Mount Pleasant, South Carolina 29464
                                      Attn: Jerry A. Vereen
                                      President and Chief Executive Officer

WITH A COPY TO:                       Nelson Mullins Riley & Scarborough, LLP
                                      999 Peachtree Street, Suite 1400
                                      Atlanta, Georgia 30309
                                      Attn: Neil E. Grayson, Esq.

THE ESCROW AGENT:                     Lowcountry National Bank
                                      36 Sea Island Parkway
                                      Beaufort, South Carolina 29902
                                      Attn: Randy Kohn
                                      President and Chief Executive Officer

         9.       REPRESENTATIONS OF THE COMPANY. The Company hereby
acknowledges that the status of the Escrow Agent with respect to the offering
of the Shares is that of agent only for the limited purposes herein set forth,
and hereby agrees it will not represent or imply that the Escrow Agent, by
serving as the Escrow Agent hereunder or otherwise, has investigated the
desirability or advisability in an investment in the Shares, or has approved,
endorsed or passed upon the merits of the Shares, nor shall the Company use the
name of the Escrow Agent in any manner whatsoever in connection with the offer
or sale of the Shares, other than by acknowledgment that it has agreed to serve
as Escrow Agent for the limited purposes herein set forth.

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         10.      GENERAL.

         (a)      This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of South Carolina.

         (b)      The section headings contained herein are for reference
purposes only and shall not in any way affect the meaning or interpretation of
this Agreement.

         (c)      This Agreement sets forth the entire agreement and
understanding of the parties with regard to this escrow transaction and
supersedes all prior agreements, arrangements and understandings relating to
the subject matter hereof.

         (d)      This Agreement may be amended, modified, superseded or
canceled, and any of the terms or conditions hereof may be waived, only by a
written instrument executed by each party hereto or, in the case of a waiver,
by the party waiving compliance. The failure of any part at any time or times
to require performance of any provision hereof shall in no manner affect the
right at a later time to enforce the same. No waiver in any one or more
instances by any part of any condition, or of the breach of any term contained
in this Agreement, whether by conduct or otherwise, shall be deemed to be, or
construed as, a further or continuing waiver of any such condition or breach,
or a waiver of any other condition or of the breach of any other terms of this
Agreement.

         (e)      This Agreement may be executed simultaneously in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

         (f)      This Agreement shall inure to the benefit of the parties
hereto and their respective administrators, successors and assigns. The Escrow
Agent shall be bound only by the terms of this Escrow Agreement and shall not
be bound by or incur any liability with respect to any other agreement or
understanding between the parties except as herein expressly provided. The
Escrow Agent shall not have any duties hereunder except those specifically set
forth herein.

         (g)      No interest in any part to this Agreement shall be assignable
in the absence of a written agreement by and between all the parties to this
Agreement, executed with the same formalities as this original Agreement.

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         IN WITNESS WHEREOF, the parties have duly executed this Agreement as
the date first written above.

COMPANY:                                   ESCROW AGENT:

TIDELANDS BANCSHARES, INC.                 LOWCOUNTRY NATIONAL BANK

By:                                        By:
   -----------------------------              ----------------------------------
   Jerry A. Vereen                            Randy Kohn
   President and Chief Executive              President and Chief Executive
   Officer                                    Officer

                                       6<PAGE>

                                                                   EXHIBIT 10.7

                                   AGREEMENT

The following are the terms and conditions for Southeast Financial Holdings,
Inc., hereafter referred to as SFH, Inc., providing consulting services to the
management and directors of Tidelands Bancshares, Inc.

I.       SERVICES AND DUTIES

         (A)      Timetables

                  SFH, Inc. will advise the management and Board of Directors
                  of Tidelands Bancshares, Inc. on the establishment of a
                  comprehensive plan for the development and execution of the
                  company's stock offering. SFH, Inc. will assist the bank's
                  management in establishing a computer database that will
                  enable the bank's management and directors to gauge the
                  progress of the capital raising campaign on a daily basis.

         (B)      Coordination of Media Campaign

                  Public Relations (Free Advertising)

                  SFH, Inc. will prepare written news releases regarding the
                  bank, as well as the officers and directors. These releases,
                  which are subject to approval, are intended to enhance the
                  interest in the bank.

                  Media Announcements (Paid Advertising)

                  SFH, Inc. will prepare all layout and design work for the
                  bank's "tombstone" Announcements with coupons, and will
                  advise on placement and related marketing factors, such as
                  location in newspaper, style of announcement, and
                  announcement identification techniques.

         (C)      Marketing Overview

                  SFH, Inc. will advise management (Monday through Friday,
                  weekends if necessary) how best to coordinate all aspects of
                  the company's marketing campaign, including advice as to
                  proven marketing techniques which have been successful in
                  other de novo bank stock offerings. SFH, Inc. will make sure
                  the bank's management and directors are committed to the
                  marketing campaign, as this is an essential point to a timely
                  completion of the stock sale. Recommendations will be made on
                  how to allocate each director's fund raising
                  responsibilities. Advice will be offered to all officers and
                  directors as to proven marketing techniques that will enable
                  them to maximize their efforts. Included will be suggested
                  form letters and notices. Investor meetings, including open
                  houses, breakfast meetings, luncheon meetings, and cocktail
                  receptions are the best settings for introducing the bank to
                  potential investors.

         (D)      IRA KEOGH, Pension and Profit Sharing Suitability

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                  SFH, Inc. will work with the officers and management of the
                  bank in processing all retirement account purchases shares
                  through the various types of retirement accounts that
                  potential investors may have already established. If potential
                  investors wish to use retirement funds to invest in the bank's
                  stock, but do not have a retirement account established or
                  have a custodian that will not process this type of
                  transaction, then SFH, Inc. will seek out those retirement
                  custodians who will allow such a transaction. SFH, Inc. will
                  oversee all retirement account transactions to ensure they are
                  properly initiated and completed.

         (E)      Privacy Policy

                  SFH, Inc. will not remove from Tidelands Bancshares, Inc. any
                  list that has been compiled by Tidelands Bancshares, Inc. All
                  computer discs or hard-copy lists of prospects and
                  shareholders are the sole property of Tidelands Bancshares,
                  Inc. and will not be removed from the premises by SFH, Inc.
                  or any of the staff of SFH, Inc.

II.      FEE ARRANGEMENT

         (A)      SFH, Inc. will be paid the sum of $7,500.00 upon the
                  acceptance of this Agreement, thereafter SFH, Inc. will
                  receive the sum of $20,000.00 per month (paid upon the      of
                  each month) unless terminated by Tidelands Bancshares, Inc.
                  for the term of this Agreement or until the Agreement is
                  terminated as provided herein. The monthly fee will be
                  prorated for any partial month.

         (B)      Should Tidelands Bancshares, Inc. receive commitments for the
                  minimum capitalization within 60 days, SFH, Inc will receive a
                  $30,000 bonus, payable after Tidelands Bancshares, Inc. breaks
                  escrow. These commitments must be funded within 45 days of
                  reaching the minimum capitalization.

         (C)      Tidelands Bancshares, Inc. agrees to reimburse reasonable
                  expenses in connection with this assignment. These expenses
                  will be presented to the bank on a monthly basis. Attachment
                  A, a part of this Agreement, defines the reimbursement policy
                  to be followed. Total expenses will not exceed $5,000 per
                  month.

III.     TERM OF AGREEMENT

                  This Agreement shall begin     , and shall end      . This
                  contract may be extended at the Bank's discretion.

The undersigned agree to the terms and conditions as outlined in this
Agreement.

                                       /s/ Lee Bradley
                                       -----------------------------------------
                                       Lee Bradley, President
                                       Southeast Financial Holdings, Inc.

                                       /s/ Jerry Vereen
                                       -----------------------------------------
                                       Jerry Vereen, President, CEO
                                       Tidelands Bancshares, Inc.

                                       Dated: July 9, 2002
                                             -----------------------------------
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                                  ATTACHMENT A

MEALS

Up to $35 a day per person with receipts attached to expense reports.

MILEAGE/AIRFARE

$.32 per mile on direct business related travel with personal cars. All mileage
is to be logged on a daily basis on expense reports. Local travel to and from
the Company's office is not reimbursable. When traveling by air, the lowest cost
available will be used.

LODGING

The lowest cost alternative to the Company will be used commensurate with
safety and cleanliness for our staff.

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