Document:

EX-4.2

 Exhibit 4.2 

REGISTERED 
 No. 

PHILIP MORRIS INTERNATIONAL INC. 
  

					
		 	3.125% NOTES DUE 2027	  	PRINCIPAL AMOUNT
		 		  	$
		 		  	CUSIP NO. 718172 CB3
		 		  	ISIN NO. US718172CB38

 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED
IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY (THE “DEPOSITARY”) TO
A NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE &
CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO., HAS AN INTEREST HEREIN. 
 PHILIP MORRIS INTERNATIONAL INC., a Virginia corporation (hereinafter called the “Company”, which
term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co. or registered assigns, the principal sum of
$             on August 17, 2027, and to pay interest thereon from August 17, 2017 or from the most recent Interest Payment Date to which interest has been paid or duly provided
for, semiannually in arrears on February 17 and August 17 of each year, commencing February 17, 2018, at the rate of 3.125% per annum until the principal hereof is paid or made available for payment. 

The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to
the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be February 2 or August 2 (whether or not a Business Day), as the
case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may be paid to the Person in whose name this Note
(or one or more 

 
Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee for the Notes, notice whereof shall
be given to Holders of Notes not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon
such notice as may be required by such exchange, all as more fully provided in said Indenture. 
 Payment of the principal of (and premium,
if any) and interest on this Note will be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment
is legal tender for the payment of public and private debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall
appear on the Securities Register or by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least 15 days prior to the date for payment by the person
entitled thereto. All payments of principal, premium, if any, and interest in respect of this Note will be made by the Company in immediately available funds. 

Additional provisions of this Note are contained on the reverse hereof, and such provisions shall have the same effect as though fully set
forth in this place. 
 Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee for the Notes by
manual signature, this Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, PHILIP MORRIS INTERNATIONAL INC. has caused this instrument to be duly
executed. 
  

			
	Dated: August 17, 2017
	
	PHILIP MORRIS INTERNATIONAL INC.
		
	By:	 	 
	Name:	 	Frank de Rooij
	Title:	 	Vice President Treasury and Corporate Finance
	
	Attest:
		
	By:	 	 
	Name:	 	Jerry Whitson
	Title:	 	Deputy General Counsel and Corporate Secretary

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein described in the within-mentioned Indenture. 

 

			
	HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 
		 	Authorized Officer

 3.125% Notes due 2027 - No. 

 (Reverse of Note) 

PHILIP MORRIS INTERNATIONAL INC. 

This Note is one of a duly authorized issue of debentures, notes or other evidences of indebtedness (hereinafter called the
“Securities”) of the Company of the series hereinafter specified, which series is limited in aggregate principal amount to $500,000,000 (except as provided in the Indenture hereinafter mentioned), all such Securities issued and to be
issued under an Indenture dated as of April 25, 2008 between the Company and HSBC Bank USA, National Association, as Trustee (herein called the “Indenture”), to which Indenture and all other indentures supplemental thereto reference
is hereby made for a statement of the rights and limitations of rights thereunder of the Holders of the Securities and of the rights, obligations, duties and immunities of the Trustee for each series of Securities and of the Company, and the terms
upon which the Securities are and are to be authenticated and delivered. As provided in the Indenture, the Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at
different times, may bear interest, if any, at different rates, may be subject to different redemption provisions, if any, may be subject to different sinking, purchase or analogous funds, if any, may be subject to different covenants and Events of
Default and may otherwise vary as in the Indenture provided or permitted. This Note is one of a series of the Securities designated therein as 3.125% Notes due 2027 (the “Notes”). 

Section 1010 of the Indenture shall be applicable to the Notes, except that (i) the term “Holder,” when used in
Section 1010 of the Indenture, shall mean the beneficial owner of a Note or any person holding on behalf or for the account of the beneficial owner of a Note; (ii) the following language shall replace subsection (k) to
Section 1010 of the Indenture “any tax, assessment or other governmental charge imposed pursuant to the provisions of Sections 1471 through 1474 of the Code” and (iii) the following language shall be included as subsection
(l) to Section 1010 of the Indenture “any combination of items (a), (b), (c), (d), (e), (f), (g), (h), (i), (j) and (k).” 

Prior to May 17, 2027 (the date that is three months prior to the scheduled maturity date for the Notes), the Company may, at its option,
redeem the Notes, in whole at any time or in part from time to time (equal to $2,000 or an integral multiple of $1,000 in excess thereof) at a redemption price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed
and (ii) the sum of the present values of each remaining scheduled payment of principal and interest that would be due if such Notes matured on May 17, 2027 (exclusive of interest accrued to the date of redemption) discounted to the
redemption date, on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months), at a rate equal to the applicable Treasury Rate (as defined below) plus 15 basis points plus, in either case, accrued and unpaid interest, if any,
thereon to, but excluding, the redemption date. 
 On or after May 17, 2027 (the date that is three months prior to the scheduled
maturity date for the Notes), the Company may, at its option, redeem the Notes, in whole at any time or in part from time to time (equal to $2,000 or an integral multiple of $1,000 in excess thereof) at a redemption price equal to 100% of the
principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, thereon to, but excluding, the redemption date. 

 “Comparable Treasury Issue” means the U.S. Treasury security or securities selected by
an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed (assuming for this purpose that the Notes matured on May 17, 2027) that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such Notes. 

“Comparable Treasury Price” means, with respect to any redemption date (1) the average of the Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotation or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of
all such quotations. 
 “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 

“Reference Treasury Dealer” means each of Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC,
Mizuho Securities USA LLC and Société Générale or their affiliates, which are primary United States government securities dealers and one other leading primary U.S. government securities dealer in New York City reasonably
designated by the Company; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary
Treasury Dealer. 
 “Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any redemption
date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment
Banker by such Reference Treasury Dealer at 2:00 pm New York time on the third Business Day preceding such redemption date. 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semiannual equivalent yield to maturity
or interpolated maturity (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (such price expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such
redemption date. 
 The Company will, or will cause the Trustee or Paying Agent on its behalf to, mail notice of a redemption to Holders of
the Notes to be redeemed by first-class mail (or otherwise transmit in accordance with applicable procedures of the Depositary) at least 30 and not more than 60 days prior to the date fixed for redemption. Unless the Company defaults in the payment
of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or any portion thereof called for redemption. On or before the applicable redemption date, the Company will deposit with the Trustee, funds
sufficient to pay the redemption price of, and (unless the redemption date shall be an Interest Payment Date) accrued and unpaid interest on, such Notes to be redeemed on that redemption date. If fewer than all of the Notes are to be redeemed, the
Notes to be redeemed shall be selected by the Trustee by lot, pro rata or by such 

 
method as the Trustee shall deem fair and appropriate in each case in accordance with the applicable procedures of the Depositary. The Trustee shall not be responsible for calculating the
“make-whole” premium. 
 The Company may redeem the Notes prior to maturity in whole, but not in part, on not more than 60
days’ notice and not less than 30 days’ notice at a redemption price equal to the principal amount of such Notes plus any accrued interest and additional amounts to the date fixed for redemption if: 

 

	 	•	 	as a result of a change in or amendment to the tax laws, regulations or rulings of the United States or any political subdivision or taxing authority of or in the United States or any change in official position
regarding the application or interpretation of such laws, regulations or rulings (including a holding by a court of competent jurisdiction in the United States) that is announced or becomes effective on or after August 17, 2017, the Company has
or will become obligated to pay additional amounts with respect to the Notes as described in Section 1010 of the Indenture, or 

  

	 	•	 	on or after August 17, 2017, any action is taken by a taxing authority of, or any decision is rendered by a court of competent jurisdiction in, the United States or any political subdivision or taxing authority of
or in the United States, including any of those actions specified in the bullet point above, whether or not such action is taken or decision is rendered with respect to the Company, or any change, amendment, application or interpretation is
officially proposed, which, in any such case, in the written opinion of independent legal counsel of recognized standing, will result in a material probability that the Company will become obligated to pay additional amounts with respect to the
Notes, 

 and the Company in its business judgment determines that such obligations cannot be avoided by the use of reasonable measures
available to the Company. 
 If the Company exercises its option to redeem the Notes for tax reasons, the Company will deliver to the
Trustee a certificate signed by an authorized officer stating that it is entitled to redeem the Notes and the written opinion of independent legal counsel if required. 

The Indenture contains provisions for defeasance at any time of the entire principal of all the Securities of any series upon compliance by
the Company with certain conditions set forth therein. 
 If an Event of Default (other than an Event of Default described in
Section 501(4) or 501(5) of the Indenture) with respect to the Notes shall occur and be continuing, then either the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities of all series then Outstanding (or, if
such default is not applicable to all series of the Securities, the Holders of at least 25% in principal amount of the then Outstanding Securities of all series to which it is applicable) (in each case voting as a single class) may declare the
entire principal amount of the Securities of all series so affected due and payable in the manner and with effect provided in the Indenture. If an Event of Default specified in Section 501(4) or 501(5) occurs

 
with respect to the Company, all of the unpaid principal amount and accrued interest then Outstanding shall ipso facto become and be immediately due and payable in the manner with the
effect provided in the Indenture without any declaration or other act by the Trustee or any Holder. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities under the Indenture at any time by the Company with the consent of the Holders of
not less than a majority in aggregate principal amount of the Outstanding Securities of all series of Securities affected thereby (voting as a single class). The Indenture also contains provisions permitting the Holders of specified percentages in
aggregate principal amount of the Securities of all series affected thereby at the time Outstanding (voting as a single class) to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture
and their consequences to the affected series. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the transfer hereof or in
exchange or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. 
 No reference herein to the Indenture
and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Note at the times, place and rate, and in
the coin or currency, herein and in the Indenture prescribed. 
 As provided in the Indenture and subject to certain limitations therein set
forth, this Note is transferable on the Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company to be maintained for that purpose in the Borough of Manhattan, The City of New
York, or at any other office or agency of the Company maintained for that purpose, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof
or his or her attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Notes are issuable only in registered form in denominations of $2,000 and any integral multiple of $1,000 in excess thereof. As provided
in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal amount of Notes of a like tenor and of a different authorized denomination, as requested by the Holder surrendering the
same. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 The Company, the Trustee for the Notes and any
agent of the Company or such Trustee may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes, whether or not this Note be

 
overdue, and neither the Company, such Trustee nor any such agent shall be affected by notice to the contrary. 

Certain of the Company’s obligations under the Indenture with respect to Notes may be terminated if the Company irrevocably deposits with
the Trustee money or Government Obligations sufficient to pay and discharge the entire indebtedness on all Notes, as provided in the Indenture. 

This Note shall for all purposes be governed by, and construed in accordance with, the laws of the State of New York. 

Certain terms used in this Note which are defined in the Indenture have the meanings set forth therein. 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

PLEASE INSERT SOCIAL SECURITY NUMBER OR 
 OTHER IDENTIFYING
NUMBER OF ASSIGNEE 
  
       

 
 (Name and address of Assignee, including zip code,
must be printed or typewritten) 
  
       

 
  

      
  

the within Note, and all rights thereunder, hereby irrevocably, constituting and appointing 

 
       

 
  

      
  

Attorney to transfer the said Note on the books of Philip Morris International Inc. with full power of substitution in the premises. 

Dated:                      

__________________________________________ 

NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular,
without alteration or enlargement or any change whatsoever.Exhibit 10.1

 

$20,000,000

 

FIRST MID-ILLINOIS BANCSHARES, INC.

 

Common Stock, $4.00 Par Value Per Share

 

Sales Agency Agreement

 

August 16, 2017

 

Sandler O’Neill + Partners, L.P.

1251 Avenue of the Americas, 6th Floor

New York, New York 10020

 

FIG Partners, LLC

20 North Wacker Drive

Suite 2035

Chicago, IL 60606

 

Ladies and Gentlemen:

 

First Mid-Illinois Bancshares, Inc., a Delaware
corporation (the “Company”), the holding company for First Mid-Illinois Bank & Trust, N.A., a national bank
(the “Bank”), proposes, subject to the terms and conditions stated herein, to sell from time to time through
Sandler O’Neill & Partners, L.P. (“Sandler”) and FIG Partners, LLC (“FIG”), as sales agent
and/or principal (each, an “Agent” and collectively, the “Agents”) shares of the common stock,
$4.00 par value per share (“Common Stock”), of the Company, having an aggregate gross sales price of up to $20.0
million (the “Shares”) on the terms set forth in this agreement (the “Agreement”). The Company
agrees that whenever it determines to sell the Common Stock directly to the Agents, as principal or otherwise other than as set
forth in Section 2 hereof, it will enter into a separate agreement, which will include customary terms and conditions
consistent with the representations, warranties and provisions in this Agreement and which will be agreed upon by the parties thereto
(each, a “Terms Agreement”).

 

The Company has filed with the Securities and
Exchange Commission (the “Commission”) a shelf registration statement on Form S-3 (No. 333-216855), including
the related prospectus, covering the registration of various securities, including the Shares, under the Securities Act of 1933,
as amended (the “1933 Act”) (the “Base Prospectus”). Such registration statement is effective
under the 1933 Act. Promptly after execution and delivery of this Agreement, the Company will prepare and file a Prospectus Supplement
(as defined below) with respect to the Shares in accordance with the provisions of Rule 430B (“Rule 430B”) of
the rules and regulations of the Commission under the 1933 Act (the “1933 Act Regulations”) and paragraph (b)
of Rule 424 (“Rule 424(b)”) of the 1933 Act Regulations. Any information included in such Prospectus Supplement
that was omitted from such registration statement at the time it became effective but that is deemed to be part of such registration
statement at the time it became effective pursuant to Rule 430B is referred to as “Rule 430B Information.” The
shelf registration statement, at any given time, including any amendments thereto, including post-effective amendments, the exhibits
and any schedules thereto at such time, the documents incorporated by reference therein and the documents otherwise deemed to be
a part thereof or included therein by the 1933 Act, is referred to herein as the “Registration Statement.” The
term “Effective Date” shall mean each date that the Registration Statement and any post-effective amendment
or amendments thereto became or become effective. The term “Prospectus” means the prospectus supplement to the
Base Prospectus that describes the Shares and the offering thereof (the “Prospectus Supplement”) filed with
the Commission pursuant to Rule 424(b) under the 1933 Act, together with the Base Prospectus, in the form used by the Agents in
connection with the sale of the Shares from time to time. The Company will furnish to each of the Agents, for use by the Agents,
copies of the Prospectus included as part of such Registration Statement, as supplemented by the Prospectus Supplement, relating
to the Shares. Any registration statement filed pursuant to Rule 462(b) of the 1933 Act Regulations is herein referred to as a
“Rule 462(b) Registration Statement,” and after such filing the term “Registration Statement”
shall include the last filed Rule 462(b) Registration Statement.

 

     

     

    

 

For purposes of this Agreement, all references
to the Registration Statement, the Prospectus Supplement, the Prospectus, any Issuer- Represented Free Writing Prospectus (as hereinafter
defined) or any amendment or supplement to any of the foregoing shall be deemed to include the copy, if any, filed with the Commission
pursuant to its Electronic Data Gathering, Analysis and Retrieval system (“EDGAR”).

 

All references in this Agreement to financial
statements and schedules and other information which is “contained,” “included”, “stated”,
“disclosed” or “described” (or other references of like import) in the Registration Statement, the Prospectus
Supplement or the Prospectus shall be deemed to mean and include all such financial statements and schedules and other information
which is incorporated or deemed to be incorporated by reference in, or otherwise deemed by the 1933 Act Regulations to be a part
of or included in, the Registration Statement, the Prospectus Supplement or the Prospectus, as the case may be.

 

For the purpose of this Agreement, the term
“subsidiary” or “subsidiaries” shall include each direct or indirect subsidiary of the Company listed on
Schedule II hereto.

 

1.                 
(a)The Company represents and warrants to each of the Agents, as of the date hereof, each Representation Date (as defined
in Section 5(o) below), each Applicable Time (as defined in Section 1(a)(v) below) and each Delivery Date
(as defined in Section 2(i) below), and agrees with each of the Agents, as follows:

 

(i)                
(A)(1) At the time of filing the Registration Statement, (2) as of the date hereof, and (3) as of each Applicable
Time and Delivery Date, the Company satisfied the registrant eligibility requirements for the use of Form S-3 under the 1933 Act
that were in effect prior to October 21, 1992, and (B) at the date hereof, the Company was not an “ineligible issuer”
as defined in Rule 405 of the 1933 Act Regulations. The Company has filed with the Commission the Registration Statement on Form
S-3, including a Base Prospectus for registration under the 1933 Act of the offering and sale of the Shares, each in the form previously
delivered to the Agents. Such Registration Statement has been declared effective by the Commission and the Shares have been registered
under the Registration Statement in compliance with the requirements for the use of Form S-3. The Company has not received from
the Commission any notice pursuant to Rule 401(g) of the 1933 Act Regulations objecting to the Company’s use of Form S-3.
Although the Base Prospectus may not include all the information with respect to the Shares and the offering thereof required by
the 1933 Act and the 1933 Act Regulations to be included in the Prospectus, the Base Prospectus includes all such information required
by the 1933 Act and the 1933 Act Regulations to be included therein as of the Effective Date. The Company has complied to the Commission’s
satisfaction with all requests of the Commission for additional or supplemental information, to the extent the Commission has requested
such information in conjunction with the filing of the Registration Statement or otherwise; and no stop order suspending the
effectiveness of the Registration Statement has been issued and no proceeding for that purpose has been initiated or, to the knowledge
of the Company, threatened by the Commission. Promptly after the execution of this Agreement, the Company will file with the Commission
pursuant to Rules 415 and 424(b)(2) or (5) of the 1933 Act Regulations the Prospectus Supplement to the Base Prospectus included
in such Registration Statement relating to the Shares and the offering thereof, with such information as is required or permitted
by the 1933 Act and as has been provided to and approved by the Agents prior to the date hereof or, to the extent not completed
at the date hereof, containing only such specific additional information and other changes (beyond that contained in the Base Prospectus)
as the Company has advised the Agents, prior to the date hereof, will be included or made therein. If the Company has elected to
rely on Rule 462(b) of the 1933 Act Regulations and the Rule 462(b) Registration Statement is not effective, (x) the Company
will file a Rule 462(b) Registration Statement in compliance with, and that is effective upon filing pursuant to, Rule 462(b) and
(y) the Company has given irrevocable instructions for transmission of the applicable filing fee in connection with the filing
of the Rule 462(b) Registration Statement, in compliance with Rule 111 of the 1933 Act Regulations, or the Commission has received
payment of such filing fee.

 

    	2

     

    

 

(ii)              
At the time of the original filing of the Registration Statement, at the earliest time thereafter that the Company or another
offering participant made a bona fide offer (within the meaning of Rule 164(h) of the 1933 Act Regulations) of the Shares and at
each Representation Date, the Company was not, is not and will not be an “ineligible issuer” as defined in Rule 405
under the 1933 Act.

 

(iii)            
There are no contracts or other documents required to be described in the Prospectus or to be filed as exhibits to the Registration
Statement which have not been described or filed as required. The Prospectus and any amendment or supplements thereto delivered
to the Agents for use in connection with the offering of the Shares (whether to meet requests of purchasers pursuant to Rule 173
of the 1933 Act Regulations or otherwise) was identical to the electronically transmitted copies thereof filed with the Commission
pursuant to EDGAR, except to the extent permitted by Regulation S-T under the 1933 Act.

 

(iv)            
(A) at the respective times the Registration Statement, any Rule 462(b) Registration Statement and any post-effective
amendments thereto became or becomes effective and as of the date hereof, the Registration Statement, any Rule 462(b) Registration
Statement and any amendments and supplements thereto complied and will comply in all material respects with the requirements of
the 1933 Act and the 1933 Act Regulations and did not and will not contain an untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary to make the statements therein not misleading, and (B) at the time
the Prospectus or any amendments or supplements thereto were filed and at each Applicable Time and Delivery Date, neither the Prospectus
nor any amendment or supplement thereto included, includes or will include an untrue statement of a material fact or omitted, omits
or will omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading; provided, that the representations and warranties in clauses (A) and (B) above
shall not apply to statements in or omissions from the Registration Statement or the Prospectus made in reliance upon and in strict
conformity with information furnished to the Company in writing by the Agents expressly for use in the Registration Statement or
the Prospectus, it being understood and agreed that the only such information provided by the Agents is the Agent Information described
in Section 8(b) hereof. No order preventing or suspending the use of the Prospectus or any Issuer-Represented Free
Writing Prospectus has been issued by the Commission.

 

(v)              
Each Issuer-Represented Free Writing Prospectus, as of its issue date and at all subsequent times through the completion
of the public offer and sale of the Shares or until any earlier date that the Company notified or notifies the Agents as described
in Section 5(b), did not, does not and will not include any material information that conflicted, conflicts or will
conflict with the information contained in the Registration Statement; provided, however, that this representation and warranty
shall not apply to any statements or omissions made in reliance upon and in conformity with the Agent Information provided by the
Agents expressly for use therein.

 

    	3

     

    

 

As used in this Section 1(a)(v)
and elsewhere in this Agreement:

 

“Applicable Time”
means, with respect to any Shares, the time of sale of such Shares pursuant to this Agreement or any relevant Terms Agreement.

 

“General Disclosure Package”
means (i) the Prospectus, (ii) the Issuer-Represented General Use Free Writing Prospectuses, if any, identified in Schedule III
hereto and (iii) any other Issuer-Represented Free Writing Prospectus that the parties hereto shall hereafter expressly
agree in writing to treat as part of the General Disclosure Package.

 

“Issuer-Represented Free Writing
Prospectus” means any “issuer free writing prospectus,” as defined in Rule 433 of the 1933 Act Regulations
(“Rule 433”), relating to the Shares (including, without limitation, any such issuer free writing prospectus
that (i) is required to be filed with the Commission by the Company, (ii) is a “road show that is a written communication”
within the meaning of Rule 433(d)(8)(i) of the 1933 Act Regulations, whether or not required to be filed with the Commission or
(iii) is exempt from filing pursuant to Rule 433(d)(5)(i) of the 1933 Act Regulations because it contains a description of
the Shares or of the offering that does not reflect the final terms), in each case in the form filed or required to be filed with
the Commission or, if not required to be filed, in the form retained in the Company’s records pursuant to Rule 433(g) of
the 1933 Act Regulations.

 

“Issuer-Represented General
Use Free Writing Prospectus” means any Issuer-Represented Free Writing Prospectus that is intended for general distribution
to prospective investors, as evidenced by its being specified in Schedule III hereto.

 

“Issuer-Represented Limited-Use
Free Writing Prospectus” means any Issuer-Represented Free Writing Prospectus that is not an Issuer-Represented General
Use Free Writing Prospectus.

 

(vi)            
The documents incorporated or deemed to be incorporated by reference in the Registration Statement, the Prospectus and the
General Disclosure Package and from which information so incorporated by reference, at the time they were or hereafter are filed
with the Commission, complied, comply and will comply in all material respects with the requirements of the Securities Exchange
Act of 1934, as amended (the “1934 Act”) and the rules and regulations of the Commission thereunder (the “1934
Act Regulations”), and, when read together with the other information in the Prospectus and the General Disclosure Package,
at the time the Registration Statement became effective, at the time the Prospectus was or is issued, at each Applicable Time and
at each Delivery Date, did not, do not and will not contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which
they were made, not misleading.

 

(vii)          
The consolidated financial statements of the Company, including the related schedules and notes, filed with the Commission
as part of the Registration Statement and included in the Prospectus (the “Financial Statements”) present fairly
in all material respects the consolidated financial position of the Company and its consolidated subsidiaries as of and at the
dates indicated and the consolidated results of their operations, changes in stockholders’ equity and cash flows of the Company
and its consolidated subsidiaries for the periods specified. The Financial Statements, unless otherwise noted therein, have been
prepared in conformity with generally accepted accounting principles in effect in the United States (“GAAP”)
applied on a consistent basis throughout the periods involved, except as may be expressly stated in the notes thereto. The selected
financial data and the summary financial information of the Company included in the Registration Statement and the Prospectus present
fairly in all material respects the information therein and have been prepared on a basis consistent with that of the audited consolidated
financial statements contained in the Registration Statement and the Prospectus. No other financial statements or supporting schedules
are required to be included in the Registration Statement and the Prospectus. To the extent applicable, all disclosures contained
in the Prospectus regarding “non-GAAP financial measures” as such term is defined by the rules and regulations of the
Commission comply in all material respects with Regulation G of the 1934 Act and the 1934 Act Regulations and Item 10(e) of Regulation
S-K. The interactive data in eXtensible Business Reporting Language included in the Registration Statement, the General Disclosure
Package and the Prospectus presents fairly in all material respects the information included therein and has been prepared in all
material respects in accordance with the Commission’s rules and guidelines applicable thereto.

 

    	4

     

    

 

(viii)        
BKD LLP (“BKD”), the independent registered public accounting firm that audited the financial statements
of the Company and its subsidiaries that are included in the Registration Statement and the Prospectus, are independent public
accountants as required by the 1933 Act and the 1933 Act Regulations.

 

(ix)            
The statistical and market-related data contained in the Registration Statement, the General Disclosure Package and the
Prospectus are based on or derived from sources which the Company believes are reliable and accurate in all material respects.

 

(x)              
This Agreement has been duly authorized, executed and delivered by the Company and, when duly executed by each of the Agents,
will constitute the valid and binding agreement of the Company enforceable against the Company in accordance with its terms, except
as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or
affecting creditors’ rights generally or by general equitable principles and except as any indemnification or contribution
provisions thereof may be limited under applicable securities laws, banking laws and public policy considerations.

 

(xi)            
Since the date of the most recently dated audited consolidated balance sheet contained in the Financial Statements, (A)
(x) the Company and its subsidiaries, considered as one enterprise, have not sustained any material loss or material interference
with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute
or court or governmental action, order or decree, and there has not been any material change in the capital stock or long-term
debt of the Company and its subsidiaries or (y) any material adverse change in or affecting the condition (financial or other),
business, properties, or consolidated results of operations of the Company and its subsidiaries considered as one enterprise, whether
or not arising in the ordinary course of business (any such change described in this clause (y), a “Material Adverse Effect”),
in each case in this clause (A) other than as set forth or disclosed or contemplated in the Registration Statement, the General
Disclosure Package and the Prospectus, (B) there have been no transactions entered into by the Company or any of its subsidiaries
which are material with respect to the Company and its subsidiaries considered as one enterprise, otherwise than as set forth or
disclosed or contemplated in the Registration Statement, the General Disclosure Package and the Prospectus and (C) there has
been no dividend or distribution of any kind declared, paid or made by the Company on any class of its capital stock, otherwise
than as set forth or disclosed or contemplated in the Registration Statement, the General Disclosure Package and the Prospectus.

 

    	5

     

    

 

(xii)          
The Company and its subsidiaries have good and marketable title to all real and personal property owned by them and material
to the respective businesses of the Company and its subsidiaries, in each case free and clear of all mortgages, pledges, security
interests, claims, restrictions, liens, encumbrances and defects, except such as are described generally in the Registration Statement,
the General Disclosure Package and the Prospectus, or such as do not materially affect the value of such properties taken as a
whole and do not materially interfere with the use made and proposed to be made of such property by the Company and its subsidiaries
or such as would not, individually or in the aggregate, have a Material Adverse Effect. Any real property and buildings held under
lease by the Company and its subsidiaries and material to the respective businesses of the Company and its subsidiaries are held
by them under valid, subsisting and enforceable leases with such exceptions as are not material and do not interfere with the use
made and proposed to be made of such property and buildings by the Company and its subsidiaries or would not, individually or in
the aggregate, have a Material Adverse Effect. Neither the Company nor any subsidiary has received any written or oral notice of
any material claim of any sort that has been asserted by anyone adverse to the rights of the Company or any subsidiary under any
of the leases or subleases mentioned above, or affecting or questioning the rights of the Company or such subsidiary to the continued
possession of the leased or subleased premises under any such lease or sublease, except as would not, individually or in the aggregate,
have a Material Adverse Effect.

 

(xiii)        
The Company is a registered financial holding company under the Bank Holding Company Act of 1956, as amended (“BHCA”),
and has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Delaware,
with the corporate power and authority to own, lease and operate its properties and to conduct its business as described in the
Registration Statement, the General Disclosure Package and the Prospectus and to enter into and perform its obligations under this
Agreement. The Company is duly qualified as a foreign corporation to transact business and is in good standing under the laws of
each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the
conduct of business, except where the failure to so qualify or to be in good standing would not reasonably be expected to result
in a Material Adverse Effect.

 

(xiv)        
Each significant subsidiary (as defined in Rule 405 under the Securities Act) of the Company (each such significant subsidiary
of the Company being hereinafter referred to as a “Significant Subsidiary”) has been duly incorporated or organized
and is validly existing as a bank, corporation or limited liability company, as the case may be, in good standing under the laws
of the jurisdiction of its incorporation or organization, has all requisite power and authority to own, lease and operate its properties
and to conduct its business as described in the Registration Statement, the General Disclosure Package and the Prospectus and is
duly qualified as a foreign entity to transact business and is in good standing in each jurisdiction in which such qualification
is required, whether by reason of the ownership or leasing of property or the conduct of business, except in each case where the
failure so to qualify or to be in good standing would not result in a Material Adverse Effect. The activities of the Significant
Subsidiaries are permitted of subsidiaries of a financial holding company under applicable law and the rules and regulations of
the Federal Reserve Board (the “FRB”). Except as otherwise disclosed in the Registration Statement, the General
Disclosure Package and the Prospectus, all of the issued and outstanding capital stock or membership interests of each Significant
Subsidiary has been duly authorized and validly issued, is fully paid and non-assessable (to the extent applicable) and is owned
by the Company, directly or through subsidiaries, free and clear of any security interest, mortgage, pledge, lien, encumbrance,
claim or equity. None of the outstanding shares of capital stock or membership interests of any Significant Subsidiary was issued
in violation of the preemptive or similar rights of any securityholder of such Significant Subsidiary. There are no outstanding
rights, warrants or options to acquire or instruments convertible into or exchangeable for any capital stock or equity securities
of any of the Significant Subsidiaries. Except as otherwise disclosed in the Registration Statement, the General Disclosure Package
and the Prospectus, no Significant Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends
to the Company, from making any other distributions on such Significant Subsidiary’s capital stock or common securities,
from repaying to the Company any loans or advances to such Significant Subsidiary from the Company or from transferring any of
such Significant Subsidiary’s property or assets to the Company or any other subsidiary of the Company. The only subsidiaries
of the Company are the subsidiaries listed on Schedule II hereto. As of the date hereof, the Bank is the only Significant
Subsidiary and depository institution subsidiary of the Company.

 

    	6

     

    

 

(xv)          
All of the issued shares of capital stock of the Company have been duly and validly authorized and issued, are fully paid
and non-assessable and have been issued in compliance with federal and state securities laws. None of the outstanding shares of
capital stock were issued in violation of any preemptive rights, rights of first refusal or other similar rights to subscribe for
or purchase securities of the Company. The description of the Company’s stock option, stock bonus and other equity compensation
plans or compensation arrangements and the options or other rights granted thereunder, set forth or disclosed in the Registration
Statement, the General Disclosure Package and the Prospectus, accurately and fairly presents, in all material respects, the information
required to be described therein with respect to such plans, arrangements, options and rights. Except as described in each of the
Registration Statement, the General Disclosure Package and Prospectus, there are no outstanding rights (contractual or otherwise),
warrants or options to acquire, or instruments convertible into or exchangeable for, or agreements or understandings with respect
to the sale or issuance of, any shares of capital stock of or other equity interest in the Company, other than in the ordinary
course of business, consistent with past practice, under the Company’s equity compensation programs.

 

(xvi)        
The Shares have been duly and validly authorized and, when issued, delivered to and paid for by the Agents pursuant to this
Agreement, will be validly issued, fully paid and nonassessable, and will conform to the description of the capital stock contained
in each of the Registration Statement, the General Disclosure Package and the Prospectus. The issuance of the Shares is not subject
to the preemptive or other similar rights of any securityholder of the Company.

 

(xvii)      
The issue and sale of the Shares by the Company and the compliance by the Company with all of the provisions of this Agreement
and the consummation by the Company of the transactions herein contemplated have been duly authorized by all necessary corporate
action of the Company and do not and will not, whether with or without the giving of notice or passage of time or both, (A) conflict
with or result in a breach or violation of any of the terms or provisions of, or constitute a default or result in a Repayment
Event (as defined below) under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which
the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of
the property or assets of the Company or any of its subsidiaries is subject, (B) result in any violation of the provisions
of the certificate of incorporation, certificate of organization, certificate of formation, articles of incorporation, articles
of association, or charter (as applicable), bylaws or other governing documents of the Company or any of its subsidiaries, or (C) result
in any violation of any statute or any order, rule or regulation of any federal, state, local or foreign court, arbitrator, regulatory
authority or governmental agency or body (each a “Governmental Entity”) having jurisdiction over the Company
or any of its subsidiaries or any of their properties, except for, in the case of clauses (A) and (C) those conflicts, breaches,
violations, defaults or Repayment Events that would not reasonably be expected to result in a Material Adverse Effect. No consent,
approval, authorization, order, registration or qualification of or with any such court or Governmental Entity is required for
the issue and sale of the Shares, the performance by the Company of its obligations hereunder or the consummation by the Company
of the transactions contemplated by this Agreement, except the registration under the 1933 Act of the Shares and except as may
be required under the rules and regulations of the NASDAQ Global Market (“NASDAQ”) or the Financial Industry
Regulatory Authority (“FINRA”) and such consents, approvals, authorizations, registrations or qualifications
as may be required under state securities or Blue Sky laws in connection with the purchase and distribution of the Shares by the
Agents. As used herein, a “Repayment Event” means any event or condition, the occurrence or existence of which gives
the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right
to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any subsidiary prior
to its scheduled maturity.

 

    	7

     

    

 

(xviii)    
Neither the Company nor any of its subsidiaries is (A) in violation of its certificate of incorporation, certificate
of organization, certificate of formation, articles of incorporation, articles of association or charter (as applicable), bylaws
or other governing documents or (B) in breach, violation or default (with or without notice or lapse of time or both) of any
obligation, agreement, covenant or condition contained in any indenture, mortgage, deed of trust, loan or credit agreement, note,
lease or other agreement or instrument to which it is a party or by which it or any of its properties may be bound or to which
any of the property or assets of the Company or any subsidiary is subject except in each case for such breaches, violations or
defaults that would not result in a Material Adverse Effect.

 

(xix)        
Except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, the Company and its
subsidiaries have conducted and are conducting their respective businesses in compliance in all material respects with all federal,
state, local and foreign statutes, laws, rules, regulations, decisions, directives and orders and administrative and court decrees
applicable to them (including, without limitation, all regulations and orders of, or agreements with, the FRB, the Office of the
Comptroller of the Currency (“OCC”), the Federal Deposit Insurance Corporation (the “FDIC”),
and the Commission, the Equal Credit Opportunity Act, the Fair Housing Act, the Community Reinvestment Act, the Home Mortgage Disclosure
Act, all other applicable fair lending laws or other laws relating to discrimination and the Bank Secrecy Act and Title III
of the USA Patriot Act), and neither the Company nor any of its subsidiaries has received any written or oral communication from
any Governmental Entity asserting that the Company or any of its subsidiaries is not in compliance with any such statute, law,
rule, regulation, decision, directive or order that would reasonably be expected to result in a Material Adverse Effect.

 

(xx)          
Except as disclosed in each of the Registration Statement, the General Disclosure Package and the Prospectus, there are
no legal or governmental actions or suits, investigations, inquiries or proceedings before or by any court or Government Entity,
now pending or, to the knowledge of the Company, threatened, to which the Company or any of its subsidiaries is a party or of which
any property of the Company or any of its subsidiaries is the subject (A) that is required to be disclosed in the Registration
Statement by the 1933 Act or the 1933 Act Regulations and is not disclosed therein or (B) which, if not disclosed in the Registration
Statement, if determined adversely to the Company or any of its subsidiaries, would be reasonably expected to result, individually
or in the aggregate, in a Material Adverse Effect. All pending legal or governmental proceedings to which the Company or any of
its subsidiaries is a party or of which any of their property is the subject which are not described in the Registration Statement,
including ordinary routine litigation incidental to their respective businesses, are not reasonably expected to result, individually
or in the aggregate, in a Material Adverse Effect, and there are no contracts or documents of the Company or any of its subsidiaries
which would be required by the 1933 Act or the 1933 Act Regulations to be described in the Registration Statement or to be filed
as exhibits thereto which have not been so described or filed.

 

    	8

     

    

 

(xxi)        
Each of the Company and its subsidiaries (A) possesses all permits, licenses, approvals, consents and other authorizations
(collectively, “Governmental Licenses”) of any Governmental Entity and has made all filings, applications
and registrations with, any Governmental Entity, in each case, necessary to permit the Company or such subsidiary to conduct the
business now operated by the Company or such subsidiary, and (B) is in compliance with the terms and conditions of all such
Governmental Licenses, except where the failure to so possess, file, apply, register or comply would not, individually or in the
aggregate, have a Material Adverse Effect. All of the Governmental Licenses currently held by the Company or any of its subsidiaries
are valid and in full force and effect, except where the invalidity of such Governmental Licenses or the failure of such Governmental
Licenses to be in full force and effect would not, individually or in the aggregate, have a Material Adverse Effect, and neither
the Company nor any of its subsidiaries has received any notice of proceedings relating to the revocation or modification of any
such material Governmental Licenses, except where any such proceeding would not, individually or in the aggregate, have a Material
Adverse Effect. Neither the Company nor any its subsidiaries have failed to file with applicable regulatory authorities any statement,
report, information or form required by any applicable law, regulation or order, except where the failure to so file in compliance
would not, individually or in the aggregate, have a Material Adverse Effect; all such filings were in compliance in all material
respects with applicable laws when filed and no material deficiencies have been asserted in writing by any regulatory commission,
agency or authority with respect to any such filings or submissions.

 

(xxii)      
Except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus and except as would
not, individually or in the aggregate, result in a Material Adverse Effect, (A) neither the Company nor any of its subsidiaries
is in violation of any federal, state or local statute, law, rule, regulation, ordinance, or code or any applicable judicial or
administrative interpretation thereof, including any judicial or administrative order, consent, decree or judgment, relating to
pollution or protection of human health, the environment (including, without limitation, ambient air, surface water, groundwater,
land surface or subsurface strata) or wildlife, including, without limitation, laws and regulations relating to the release or
threatened release of chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum or petroleum
products, asbestos-containing materials or mold (collectively, “Hazardous Materials”) or to the manufacture,
processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials (collectively, “Environmental
Laws”), (B) each of the Company and its subsidiaries has all material permits, authorizations and approvals required
to be held by it under any applicable Environmental Laws and each such of the Company and its subsidiaries are in compliance with
the requirements of each such permit, authorization and approval held by it, (C) there are no pending or, to the knowledge
of the Company, threatened administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices
of noncompliance or violation, investigation or proceedings relating to any Environmental Law against the Company or any of its
subsidiaries, and (D) there are no events or circumstances that would reasonably be expected to form the basis of an order
for clean-up or remediation, or an action, suit or proceeding by any private party or Governmental Entity, against or affecting
the Company or any of its subsidiaries relating to Hazardous Materials or any Environmental Laws.

 

    	9

     

    

 

(xxiii)    
The Company and each of its subsidiaries own or possess adequate rights to use or can acquire on reasonable terms ownership
or rights to use all patents, patent applications, patent rights, licenses, trademarks, service marks, trade names, trademark registrations,
service mark registrations, copyrights and know-how (including trade secrets and other unpatented and/or unpatentable proprietary
or confidential information, systems or procedures and excluding generally commercially available “off the shelf” software
programs licensed pursuant to shrink wrap or “click and accept” licenses) and licenses (collectively, “Intellectual
Property”) necessary for the conduct of their respective businesses, except in each case where the failure to own or
possess such rights would not, individually or in the aggregate, result in a Material Adverse Effect, and have not received any
notice of any claim of infringement or conflict with, any such rights of others or any facts or circumstances that would render
any Intellectual Property invalid or inadequate to protect the interest of the Company or any of its subsidiaries therein, except
in each case where such infringement or conflict (if the subject of any unfavorable decision, ruling or finding) or invalidity
or inadequacy, individually or in the aggregate, would not result in a Material Adverse Effect.

 

(xxiv)    
No relationship, direct or indirect, exists between or among the Company or any of its subsidiaries on the one hand, and
the directors, officers, shareholders, customers or suppliers of the Company or any of its subsidiaries on the other hand, which
is required to be disclosed in the Registration Statement, the General Disclosure Package and the Prospectus by the 1933 Act, 1933
Act Regulations, the 1934 Act or the 1934 Act Regulations which has not been so disclosed.

 

(xxv)      
Neither the Company nor any of its subsidiaries is, or after giving effect to the offering and sale of the Shares, and after
receipt of payment for the Shares and the application of the net proceeds as described in each of the Registration Statement, the
General Disclosure Package and the Prospectus, will be an “investment company,” as such term is defined in the Investment
Company Act of 1940, as amended (the “Investment Company Act”).

 

(xxvi)    
The Company is in compliance in all material respects with the provisions of the Sarbanes-Oxley Act and the rules and regulations
of the Commission thereunder applicable to the Company and the Company is in compliance in all material respects with the applicable
rules and regulations of NASDAQ. The Company has taken no action designed to, or likely to have the effect of, terminating the
listing of the Company’s common stock on the NASDAQ Global Market, nor has the Company received notification that NASDAQ
is contemplating terminating such listing. There is no requirement to receive the approval of the NASDAQ for the Shares to be listed
on the NASDAQ Global Market.

 

(xxvii)  
Neither the Company nor any of its subsidiaries, nor to the knowledge of the Company, any affiliates of the Company or its
subsidiaries, has taken or will take, directly or indirectly, any action designed to or that would be reasonably expected to cause
or result in stabilization or manipulation of the price of any securities of the Company to facilitate the sale or resale of the
Shares.

 

(xxviii) None of the Company, its subsidiaries
and, to the knowledge of the Company, their respective directors, officers, employees and agents and other persons, in each case,
acting on behalf of the Company or any of its subsidiaries has (A) used any corporate funds of the Company or any of its subsidiaries
for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity, (B) made any
direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds of the Company
or any of its subsidiaries, (C) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977,
or (D) made any bribe, illegal rebate, payoff, influence payment, kickback or other unlawful payment.

 

    	10

     

    

 

(xxix)    
The Company and its subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurances
that (A) transactions are executed in accordance with management’s general or specific authorization, (B) transactions
are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain accountability
for assets, (C) access to assets is permitted only in accordance with management’s general or specific authorization,
and (D) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action
is taken with respect to any differences. The Company and each of its subsidiaries maintain a system of internal control over financial
reporting (as such term is defined in Rule 13a-15(f) and Rule 15d-15(f) under the 1934 Act), that complies with the requirements
of the 1934 Act, as applicable to them; the Company’s internal control over financial reporting is effective; and
since the end of the Company’s most recent audited fiscal year, there has been (X) no material weakness in the Company’s
internal control over financial reporting (whether or not remediated) and (Y) no change in the Company’s internal control
over financial reporting that has materially affected adversely, or is reasonably likely to materially affect adversely, the Company’s
internal control over financial reporting.

 

(xxx)      
The Company maintains “disclosure controls and procedures” (as such term is defined in Rule 13a-15(e) and Rule
15d-15(f) under the 1934 Act) that comply with the requirements of the 1934 Act that are applicable to an issuer that has a class
of securities registered under Section 12 of the 1934 Act.

 

(xxxi)       
Except as described in the Registration Statement, the General Disclosure Package and the Prospectus, none of the Company,
the Bank or any of their subsidiaries is in violation of any order or directive from the FRB, the OCC, the FDIC, the Commission
or any regulatory authority to make any material change in the method of conducting its respective businesses. Except as disclosed
in the Registration Statement, the General Disclosure Package and the Prospectus, neither the Company nor any of its subsidiaries
is subject or is party to, or has received any notice or advice that any of them may become subject or party to, any investigation
with respect to, any corrective, suspension or cease-and-desist order, agreement, consent agreement, memorandum of understanding
or other regulatory enforcement action, proceeding or order with or by, or is a party to any commitment letter, or is subject to
any directive by, or has been a recipient of any supervisory letter from any Regulatory Agency (as defined below) that, in each
case, currently relates to or restricts in any respect the conduct of their business or that in any manner relates to capital adequacy,
credit policies or management, nor at the request or direction of any Regulatory Agency has the Company or any of its subsidiaries
adopted any board resolution that is reasonably likely to have a Material Adverse Effect (each, a “Regulatory Agreement”),
nor has the Company or any of its subsidiaries been advised by any Regulatory Agency that such Regulatory Agency is considering
issuing or requesting any such Regulatory Agreement or any such Regulatory Agreement is pending or, to the knowledge of the Company,
threatened. Except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, the Company and
its subsidiaries are each in compliance with any Regulatory Agreements, and there is no unresolved violation, criticism or exception
by any Regulatory Agency with respect to any report or statement relating to any examinations of the Company or any of its subsidiaries
which, in the reasonable judgment of the Company, currently results in or is expected to result in a Material Adverse Effect. As
used herein, the term “Regulatory Agency” means any Governmental Entity having supervisory or regulatory authority
with respect to the Company or any of its subsidiaries, including, but not limited to, any federal or state agency charged with
the supervision or regulation of depositary institutions or holding companies of depositary institutions, or engaged in the insurance
of depositary institution deposits.

 

    	11

     

    

 

(xxxii)        
Except as would not be expected to have a Material Adverse Effect, each “employee benefit plan” (as defined
under the Employee Retirement Income Security Act of 1974, as amended, and the regulations and published interpretations thereunder
(collectively, “ERISA”)) established or maintained by the Company, its subsidiaries or their “ERISA Affiliates”
(as defined below) is in compliance with ERISA; no “reportable event” (as defined under ERISA) has occurred or is reasonably
expected to occur with respect to any “employee benefit plan” established or maintained by the Company, its subsidiaries
or any of their ERISA Affiliates for which notice to the Pension Benefit Guaranty Corporation is required. “ERISA Affiliate”
means, with respect to the Company or a subsidiary, any member of any group of organizations described in Section 414(b),
(c), (m) or (o) of the Internal Revenue Code of 1986, as amended, and the regulations and published interpretations thereunder
(the “Code”) of which the Company or such subsidiary is a member. The fair market value of the assets of each ERISA
Affiliate defined benefit pension plan exceeds the present value of such plan’s “benefit liabilities” (as defined
in Section 4001(a)(16) of ERISA), and no ERISA Affiliate defined benefit pension plan has an “accumulated funding deficiency”
(as defined in Section 302 of ERISA). None of the Company, its subsidiaries nor any of their ERISA Affiliates has incurred
or reasonably expects to incur any liability under (A) Title IV of ERISA with respect to termination of, or withdrawal from,
any “employee benefit plan” or (B) Sections 412, 4971 or 4975 of the Code. Each “employee benefit plan”
established or maintained by the Company, its subsidiaries or any of their ERISA Affiliates that is intended to be qualified under
Section 401(a) of the Code has received a favorable determination or opinion letter from the Internal Revenue Service regarding
its qualification under such section and, to the knowledge of the Company, its subsidiaries and its ERISA affiliates, nothing has
occurred whether by action or failure to act, which would cause the loss of such qualification.

 

(xxxiii)      
The Company and its subsidiaries, taken as a whole, are insured by insurers of recognized financial responsibility against
such losses and risks and in such amounts as the Company reasonably believes are prudent and customary in the business in which
the Company and its subsidiaries are engaged. Neither the Company nor any of its subsidiaries has any reason to believe that it
will not be able to obtain insurance coverage from insurers similar to their current insurers as may be necessary to continue its
business at a cost that would not have a Material Adverse Effect. To the knowledge of the Company, neither the Company nor any
subsidiary has been denied any material insurance coverage which it has sought or for which it has applied in any instance in which
such insurance coverage was offered by the carrier from which the Company or such subsidiary sought such coverage or to which it
applied for such coverage.

 

(xxxiv)      
At the Delivery Date, all stock transfer or other taxes (other than income taxes) that are required to be paid in connection
with the sale and transfer of the Shares will have been fully paid or provided for by the Company and all laws imposing taxes in
connection with the sale and transfer of the Shares will have been fully complied with.

 

    	12

     

    

 

(xxxv)        
The Company and its subsidiaries have (i) filed all necessary federal, state and foreign income and franchise tax returns
that they are required to have filed or have properly requested extensions of the deadline for the filing therefor and all such
tax returns as filed are true, complete and correct in all material respects and (ii) have paid all taxes required to be paid
by any of them, other than such taxes as may be paid at a later date without any penalty or fine and except for any such tax, assessment,
fine or penalty that is currently being contested in good faith by appropriate actions and, in the case of each of clause (i) and
(ii), except as set forth in the Registration Statement, the General Disclosure Package and the Prospectus and except for such
taxes, assessments, fines or penalties, the nonpayment or late payment of which would not, individually or in the aggregate, be
reasonably expected to have a Material Adverse Effect.

 

(xxxvi)      
Except as set forth in the Registration Statement, the General Disclosure Package and the Prospectus, no labor dispute with
the employees of the Company or any subsidiary exists or, to the knowledge of the Company, is imminent, which, in any case, would
reasonably be expected to result in a Material Adverse Effect.

 

(xxxvii)    
Except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, the operations of
the Company and its subsidiaries are and have been conducted at all times in compliance in all material respects with applicable
financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended,
money laundering statutes applicable to the Company and its subsidiaries, the rules and regulations thereunder and any related
or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money
Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body
or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to
the knowledge of the Company, threatened.

 

(xxxviii)  
The Company has not distributed and, prior to the later to occur of (i) the Delivery Date and (ii) completion
of the distribution of the Shares, will not distribute any offering materials in connection with the offering and sale of the Shares
other than the Registration Statement, the Prospectus and, subject to compliance with the terms and conditions herein, any Issuer-Represented
Free Writing Prospectus.

 

(xxxix) No forward-looking statement
(within the meaning of Section 27A of the 1933 Act and Section 21E of the 1934 Act) contained in the Registration Statement,
the General Disclosure Package, the Prospectus and any Issuer-Represented Free Writing Prospectus has been made or reaffirmed without
a reasonable basis or has been disclosed other than in good faith.

 

(xl)            
Neither the Company nor any of its subsidiaries has participated in any reportable transaction, as defined in Treasury Regulation
Section 1.6011-(4)(b)(1).

 

(xli)          
Each of the Company and its subsidiaries has good and marketable title to all securities held by it (except securities sold
under repurchase agreements, pledged to secure deposits or derivative contracts or held in any fiduciary or agency capacity) free
and clear of any lien, claim, charge, option, encumbrance, mortgage, pledge or security interest or other restriction of any kind,
except to the extent such securities are pledged in the ordinary course of business consistent with prudent business practices
to secure obligations of the Company or any of its subsidiaries and except for such defects in title or liens, claims, charges,
options, encumbrances, mortgages, pledges or security interests or other restrictions of any kind that would not, individually
or in the aggregate, result in a Material Adverse Effect. The value of such securities as reflected in the accounting records of
the Company and its subsidiaries has been determined in accordance with GAAP.

 

    	13

     

    

 

(xlii)        
Any and all material swaps, caps, floors, futures, forward contracts, option agreements (other than employee stock options)
and other derivative financial instruments, contracts or arrangements, whether entered into for the account of the Company or one
of its subsidiaries or for the account of a customer of the Company or one of its subsidiaries, were entered into in the ordinary
course of business and in accordance with prudent business practice and applicable laws, rules, regulations and policies of all
applicable regulatory agencies and with counterparties believed to be financially responsible at the time of execution of such
instruments, contracts or arrangements. The Company and each of its subsidiaries have duly performed all of their respective obligations
thereunder to the extent that such obligations to perform have accrued, and there are no breaches, violations or defaults or allegations
or assertions of such by any party thereunder, except for such breaches, violations, defaults, allegations or assertions that,
individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

 

(xliii)      
Neither the Company nor, to the knowledge of the Company, any director, officer, agent, employee or affiliate of the Company
is (a) currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(“OFAC”) or (b) located, organized or resident in a country or territory that is the subject of such sanctions
(including, without limitation, Crimea, Cuba, Iran, North Korea, Sudan and Syria). The Company will not, directly or indirectly,
use the proceeds of the offering contemplated hereby, or lend, contribute or otherwise make available such proceeds to any of its
subsidiaries, any joint venture partner of the Company or any of its subsidiaries or any other person or entity, for the purpose
of financing the activities of any person, or engage in dealings or transactions with any person, or in any country, or territory,
subject to any U.S. sanctions administered by OFAC in violation of such sanctions.

 

(xliv)      
Except as described in the Registration Statement, General Disclosure Package and the Prospectus, there are no material
off-balance sheet transactions, arrangements, obligations (including contingent obligations), or any other relationships with unconsolidated
entities or other persons to which the Company or any of its subsidiaries is a party, that would reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect.

 

(b)              
The Bank represents and warrants to the Agents, as of the date hereof, each Representation Date (as defined in Section 5(o)
below), each Applicable Time (as defined to in Section 1(a)(v) hereof) and each Delivery Date (as defined in Section 2(i)
below), and agrees with the Agents, as follows:

 

(i)                
The Bank has been duly chartered and is validly existing as a national bank in good standing under the laws of the jurisdiction
of its organization, with the corporate power and authority to own, lease and operate its properties and to conduct its business
as described in the Prospectus and to enter into and perform its obligations under this Agreement. The Bank is the only depository
institution subsidiary of the Company and the Bank is a member in good standing of the Federal Home Loan Bank System. The Bank
is duly qualified as a foreign corporation to transact business and is in good standing in each other jurisdiction in which such
qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the
failure to so qualify or to be in good standing would not reasonably be expected to result in a Material Adverse Effect. The activities
of the Bank and its subsidiaries are permitted under the laws and regulations of the OCC and the deposit accounts in the Bank are
insured up to the applicable limits by the FDIC and no proceeding for the termination or revocation of such insurance is pending
or, to the knowledge of the Bank, threatened against the Bank.

 

    	14

     

    

 

(ii)              
The Bank is not in violation of its charter or bylaws or in default in the performance or observance of any obligation,
agreement, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement, note, lease or other agreement
or instrument to which it is a party or by which it or any of its properties may be bound or to which any of the property or assets
of the Bank is subject except for such defaults that would not be expected to result in a Material Adverse Effect. This Agreement
has been duly authorized, executed and delivered by the Bank and, when duly executed by the Agents, will constitute the valid and
binding agreement of the Bank, enforceable against the Bank in accordance with its terms, except as enforcement thereof may be
limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ rights
generally or by general equitable principles and except as any indemnification or contribution provisions thereof may be limited
under applicable securities, banking laws and public policy considerations. The Bank has the full power and authority to enter
into this Agreement.

 

(iii)            
The execution and delivery of this Agreement by the Bank and the compliance and performance by the Bank with the provisions
of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by all necessary corporate
action on the part of the Bank and do not and will not, whether with or without the giving of notice or passage or time or both,
conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default or result in a Repayment
Event under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Bank or any of
its subsidiaries is a party or by which the Bank or any of its subsidiaries is bound or to which any of the property or assets
of the Bank or any of its subsidiaries is subject, nor will such action result in any violation of the provisions of the articles
of association or bylaws of the Bank or any statute or any order, rule or regulation of any Governmental Entity having jurisdiction
over the Bank or any of its subsidiaries or any of their properties, except for those conflicts, breaches, violations, defaults
or Repayment Events that would not result in a Material Adverse Effect.

 

(c)               
Any certificate signed by an officer of the Company or the Bank and delivered to the Agents in connection with the offering
of Shares shall be deemed to be a representation and warranty by the Company and/or the Bank, as applicable, to the Agents as to
the matters set forth therein.

 

2.                 
(a)On the basis of the representations, warranties and agreements herein contained and subject to the terms and conditions
set forth herein, upon an Agent’s acceptance of the terms of a Placement Notice (as defined in Section 2(b) below)
or such other instructions provided by the Company to such Agent pursuant to Section 2(b) or upon receipt by such Agent
of an Acceptance (as defined in Section 2(c) below), as the case may be, and unless the sale of the Placement Shares
(as defined in Section 2(b) below) described therein has been declined, suspended or otherwise terminated in accordance
with the terms of this Agreement, the Company agrees to issue and sell through such Agent, as sales agent, and each such Agent
agrees, subject to the limitations and provisions in this Section 2 or as may otherwise be agreed to between the parties
from time to time, to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell as
sales agent for the Company, the Shares. Sales of the Shares, if any, through the Agents acting as sales agent will be made by
means of ordinary brokers’ transactions or otherwise at market prices prevailing at the time of sale, at prices related to
prevailing market prices or at negotiated prices.

 

    	15

     

    

 

(b)              
The Shares are to be sold on a daily basis or otherwise as shall be agreed to by the Company and the Agents on any day that
is a trading day for the NASDAQ Global Market (other than a day on which the NASDAQ Stock Market is scheduled to close prior to
its regular weekday closing time) (each, a “Trading Day”), and the Company has instructed one of the Agents
to make such a sale. Prior to the commencement of the offering of the Shares, when the Company wishes to issue and sell the Shares
hereunder, it will notify one of the Agents at least one “business day,” as defined in Rule 100 of Regulation M of
the 1933 Act Regulations (a “Regulation M Business Day”), to the extent Regulation M is applicable to the sale
of such Shares, prior to the Trading Day on which sales are desired to commence by e-mail notice (or other method mutually agreed
to in writing by the parties) containing the parameters in accordance with which it desires the Shares to be sold, which shall
at a minimum include the number of Shares desired to be issued (the “Placement Shares”), a form of which is
attached hereto as Annex A (a “Placement Notice”). The Placement Notice shall originate from any
of the individuals from the Company set forth on Schedule I (with a copy to each of the other individuals from the
Company listed on such schedule), and shall be addressed to each of the individuals from each of the Agents set forth on Schedule I,
as such Schedule I may be amended from time to time. On any Trading Day that the Company wishes to issue and sell the
Shares hereunder (each, a “Placement”), the Company may instruct the Agent to whom the Placement Notice was
provided by telephone (confirmed promptly by telecopy or email, which confirmation will be promptly acknowledged by such Agent),
or such other method mutually agreed to in writing by the parties, as to the maximum number of Shares to be sold by such Agent
on such day (in any event not in excess of the number available for sale under the Prospectus and the currently effective Registration
Statement) and the minimum price per Share at which such Shares may be sold.

 

(c)               
If the Agent contacted by the Company pursuant to Section 2(b) wishes to accept such proposed terms included in the Placement
Notice (which such Agent may decline to do for any reason in its sole discretion) or, following discussion with the Company, wishes
to accept amended terms, such Agent will, prior to 4:30 p.m. (New York City Time) on the business day following the business
day on which such Placement Notice is delivered to such Agent, issue to the Company a notice by e-mail (or other method mutually
agreed to in writing by the parties) addressed to all of the individuals from the Company and each of the Agents set forth on Schedule I)
setting forth the terms that such Agent is willing to accept. Where the terms provided in the Placement Notice are amended as provided
for in the immediately preceding sentence, such terms will not be binding on the Company or such Agent until the Company delivers
to such Agent an acceptance by e-mail (or other method mutually agreed to in writing by the parties) of all of the terms of such
Placement Notice, as amended (the “Acceptance”), which e-mail shall be addressed to all of the individuals from
the Company and such Agent set forth on Schedule I. The Placement Notice (as amended by the corresponding Acceptance,
if applicable) shall be effective upon receipt by the Company of such Agent’s acceptance of the terms of the Placement Notice
or upon receipt by such Agent of the Company’s Acceptance, as the case may be, unless and until (i) the entire amount
of the Placement Shares has been sold, (ii) in accordance with the notice requirements set forth in the second sentence of
Section 2(d) below, the Company terminates the Placement Notice, (iii) the Company issues a subsequent Placement
Notice with parameters superseding those on the earlier dated Placement Notice, (iv) this Agreement has been terminated under
the provisions of Section 9 or (v) either the Company or the Agents shall have suspended the sale of the Placement
Shares in accordance with the terms of this Agreement. It is expressly acknowledged and agreed that neither the Company nor such
Agent will have any obligation whatsoever with respect to a Placement or any Placement Shares unless and until the Company delivers
a Placement Notice to such Agent and either (A) such Agent accepts the terms of such Placement Notice or (B) where the
terms of such Placement Notice are amended, the Company accepts such amended terms by means of an Acceptance pursuant to the terms
set forth above, and then only upon the terms specified in the Placement Notice (as amended by the corresponding Acceptance, if
applicable) and herein. In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice (as
amended by the corresponding Acceptance, if applicable), the terms of the Placement Notice (as amended by the corresponding Acceptance,
if applicable) will control.

 

    	16

     

    

 

(d)              
Notwithstanding the foregoing, the Company shall not authorize the issuance and sale of, and such Agent shall not be obligated
to use its commercially reasonable efforts to sell, any Shares (i) at a price lower than the minimum price therefor authorized
from time to time, or (ii) in a number in excess of the aggregate number of shares or gross sale price of Shares authorized
from time to time to be issued and sold under this Agreement, in each case, by the Company’s board of directors (the “Board”)
or a duly authorized committee or subcommittee thereof (the “Designated Subcommittee”), and notified to such
Agent in writing. In addition, the Company or such Agent may, upon notice to the other party to the Placement Notice by telephone
(confirmed promptly by e-mail to those individuals specified on Schedule I), suspend or terminate the offering of the
Shares for any reason and at any time; provided, however, that such suspension or termination shall not affect or impair the
parties’ respective obligations with respect to the Shares sold hereunder or which an investor has agreed to purchase but
which have not been delivered by the Company and paid for by such investor as contemplated hereby, prior to the giving of such
notice.

 

(e)               
Under no circumstances shall the aggregate gross sale price or number of Shares sold pursuant to this Agreement exceed the
aggregate gross sale price or number of shares, as the case may be, of Common Stock (i) set forth in the preamble paragraph
of this Agreement, (ii) available for issuance under the Prospectus and the then currently effective Registration Statement
or (iii) authorized from time to time to be issued and sold under this Agreement by the Board or the Designated Subcommittee
and notified to the Agents in writing. In addition, under no circumstances shall any Shares be sold at a price lower than the minimum
price therefor authorized from time to time by the Board or the Designated Subcommittee and notified to the Agents in writing.
The Agents covenant and agree not to make any sales of the Shares on behalf of the Company other than as permitted by the terms
of this Agreement.

 

(f)               
Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable) or such other instructions
provided by the Company to the Agents pursuant to Section 2(b), the Agents may sell Placement Shares by any method
permitted by law deemed to be an “at the market” offering as defined in Rule 415 of the Act, including without limitation
sales made directly on the NASDAQ Global Market, on any other existing trading market for the Common Stock or to or through a market
maker. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable) or such other instruction
provided by the Company to the Agents pursuant to Section 2(b), the Agents may also sell Placement Shares by any other
method permitted by law, including but not limited to privately negotiated transactions subject to the approval of the Company.
Notwithstanding anything to the contrary herein and for a period of time beginning one Regulation M Business Day prior to the time
when the first sale pursuant to a Placement Notice occurs, to the extent Regulation M is applicable, and continuing through the
time such Placement Notice is in effect, the Agents agree that in no event will it or any of its affiliates engage in any market
making, stabilization or other market or trading activity with regard to the Shares if such activity would be prohibited under
Regulation M or other anti- manipulation rules under the 1933 Act or the 1934 Act.

 

(g)               
The compensation payable to the Agents for sales of Shares shall be equal to 2.0% of the aggregate purchase price of the
Shares sold in the offering. The remaining proceeds, after further deduction for any transaction fees, transfer taxes or other
similar fees, taxes or charges imposed by any federal, state, local or other governmental, regulatory or self-regulatory organization
in respect of such sales, shall constitute the net proceeds to the Company for such Shares (the “Net Proceeds”).
The Agents shall notify the Company as promptly as practicable if any deduction described in the preceding sentence will be required.

 

    	17

     

    

 

(h)              
The Agents shall provide written confirmation (which may be by e-mail) to the Company following the close of trading on
the NASDAQ Global Market each day on which Shares are sold under this Agreement setting forth the number of Shares sold on such
day, the gross sales prices of the Shares, the volume weighted average price for all sales of the Company’s common stock
(including the sale of the Shares pursuant to this Agreement) on such day, the Net Proceeds to the Company and the compensation
payable by the Company to the Agents under this Agreement with respect to such sales.

 

(i)                
Settlement for sales of Shares will occur on the third or second business day that is also a Trading Day following the trade
date on which such sales are made (such number of days to be in accordance with applicable Commission requirements and industry
standards), unless another date shall be agreed to by the Company and the Agents (each such day, a “Delivery Date”).
On each Delivery Date, the Shares sold through the Agents for settlement on such date shall be delivered by the Company to each
of the Agents against payment of the Net Proceeds from the sale of such Shares. Settlement for all Shares shall be effected by
book-entry delivery of Shares to each of the Agent’s accounts at The Depository Trust Company against payment by the Agents
of the Net Proceeds from the sale of such Shares in same day funds delivered to an account designated by the Company. If the Company
or its transfer agent (if applicable) shall default on its obligation to deliver Shares on any Delivery Date, the Company shall
(A) indemnify and hold each of the Agents harmless against any loss, claim or damage arising from or as a result of such default
by the Company and (B) pay the Agents any commission to which they would otherwise be entitled absent such default. If any
Agent breaches this Agreement by failing to deliver the applicable Net Proceeds on any Delivery Date for Shares delivered by the
Company, such Agent will pay the Company interest based on the effective overnight federal funds rate until such Net Proceeds,
together with such interest, have been fully paid.

 

(j)                
The Company agrees that any offer to sell, any solicitation of an offer to buy, or any sales of Shares or any other equity
security of the Company shall only be effected by or through the Agents, from the period beginning one Regulation M Business Day
prior to the time when the first sale pursuant to a Placement Notice occurs, to the extent Regulation M is applicable, and continuing
through the time such Placement Notice is in effect; provided, however, that the foregoing limitation shall not apply to (i) exercise
of any option, warrant, right or any conversion privilege set forth in the instrument governing such security or any other security
of the Company or (ii) sales solely to employees or security holders of the Company or its subsidiaries, or to a trustee or
other person acquiring such securities for the accounts of such persons.

 

(k)              
The Company consents to the Agents trading in the Common Stock for their own accounts and for the accounts of their clients
at the same time as sales of the Shares occur pursuant to this Agreement or pursuant to a Terms Agreement.

 

(l)                
The Company acknowledges and agrees that (i) there can be no assurance that the Agents will be successful in selling
Shares, (ii) the Agents may not solicit any offers to buy the Shares, (iii) the Agents will incur no liability or obligation
to the Company or any other person or entity if they do not sell Shares for any reason other than a failure by the Agents to use
commercially reasonable efforts consistent with their normal trading and sales practices to sell such Shares as required under
this Section 2, subject to the limitations and provisions in this Section 2 or as may otherwise be agreed
to between the parties from time to time and (iv) the Agents shall be under no obligation to purchase Shares on a principal
basis pursuant to this Agreement, except as otherwise agreed by the Agents and the Company in a Terms Agreement.

 

(m)            
At each Applicable Time, each Delivery Date and each Representation Date, the Company and the Bank shall be deemed to have
affirmed each representation, warranty, covenant and other agreement contained in this Agreement.

 

    	18

     

    

 

3.                 
(a)If the Company wishes to issue and sell the Shares other than as set forth in Section 2 of this Agreement
(an “Alternative Placement”), it will notify the Agents of the proposed terms of such Alternative Placement.
If the Agents, acting as principal or agent, wish to accept such proposed terms and the Company wishes to enter into an Alternative
Placement with the Agents (which it may decline to do for any reason in its sole discretion) or, following discussions with the
Company wishes to accept amended terms, then the Agents and the Company will enter into a Terms Agreement, setting forth the terms
of such Alternative Placement.

 

(b)              
The terms set forth in a Terms Agreement will not be binding on the Company or the Agents unless and until the Company and
the Agents have each executed such Terms Agreement accepting all of the terms of such Terms Agreement. In the event of a conflict
between the terms of this Agreement and the terms of a Terms Agreement, the terms of such Terms Agreement will control.

 

4.                 
(a)Notwithstanding any other provision of this Agreement, (i) the Company shall not offer or sell, or request the
offer or sale of, any Shares, (ii) the Company, by notice to the Agents given by telephone (confirmed promptly by e-mail),
shall cancel any instructions for the offer or sale of Shares, and (iii) the Agents shall not be obligated to offer or sell
any Shares, (x) unless otherwise agreed to in writing by the parties hereto (which agreement may be contained in a Placement
Notice or in such other instructions provided by the Company to the Agents pursuant to Section 2(b)) during any period
in which the Company’s insider trading policy, as then in effect, would prohibit the purchases or sales of the Common Stock
by its officers or directors, (y) at any time or during any period that the Company is in possession of material non-public
information, or (z) except as provided in Section 4(b) below, at any time from and including the date (each, an
“Announcement Date”) on which the Company shall issue a press release containing, or shall otherwise publicly
announce, its earnings, revenues or other results of operations (each, an “Earnings Announcement”) through and
including the time that is twenty-four (24) hours after the time that the Company files (a “Filing Time”) a
Quarterly Report on Form 10-Q or an Annual Report on Form 10-K that includes consolidated financial statements as of and for the
same period or periods, as the case may be, covered by such Earnings Announcement. For purposes of this Section 4(a) and
Section 4(b) below, references to “twenty-four (24) hours” shall exclude any hours in a day that is not
a business day.

 

(b)              
If the Company wishes to offer or sell Shares on any date during the period from and including an Announcement Date through
and including the time that is twenty-four (24) hours after the corresponding Filing Time, the Company shall (i) prepare and
deliver to the Agents (with a copy to counsel to the Agents) a Current Report on Form 8-K which shall include substantially the
same financial and related information as was set forth in the relevant Earnings Announcement (other than any earnings projections
or similar forward-looking data) (each, an “Earnings 8-K”), in form and substance reasonably satisfactory to
the Agents, and obtain the consent of the Agents to the filing thereof (such consent not to be unreasonably withheld or delayed),
(ii) provide the Agents with the officers’ certificate and accountants’ letter called for by Section 5(o)
and Section 5(q), respectively, and (iii) file such Earnings 8-K with the Commission. If the Company fully satisfies
the requirements of clauses (i) through (iii) of this Section 4(b), then the provisions of clause (ii) of
Section 4(a) shall not be applicable for the period from and after the time at which the foregoing conditions shall
have been satisfied (or, if later, the time that is twenty-four (24) hours after the time that the relevant Earnings Announcement
was first publicly released) through and including the time that is twenty-four (24) hours after the Filing Time of the relevant
Quarterly Report on Form 10-Q or Annual Report on Form 10-K, as the case may be. For purposes of clarity, the parties hereto agree
that (A) the delivery of any officers’ certificate or accountants’ letter pursuant to this Section 4(b)
shall not relieve the Company from any of its obligations under this Agreement with respect to any such Quarterly Report on Form
10-Q or Annual Report on Form 10-K, as the case may be, including, without limitation, the obligation to deliver officers’
certificates, accountants’ letters and legal opinions and related letters as provided in Section 7 hereof, (B) this
Section 4(b) shall in no way affect the provisions of clause (x) of Section 4(a), which shall have independent
application and (C) the provisions of this Section 4(b) shall in no way affect the Company’s ability to
file, subject to compliance with other applicable provisions of this Agreement, Current Reports on Form 8-K relating to earnings
or other matters.

 

    	19

     

    

 

5.                 
The Company agrees with each of the Agents:

 

(a)               
To prepare the Prospectus in a form approved by the Agents and to file such Prospectus pursuant to Rule 424(b) of the 1933
Act Regulations (without reliance on Rule 424(b)(8) of the 1933 Act Regulations) not later than the Commission’s close of
business on the second business day following the execution and delivery of this Agreement, or, if applicable, such earlier time
as may be required by Rule 430B of the 1933 Act Regulations (or, if applicable, Rule 430A of the 1933 Act Regulations); to
make no further amendment or any supplement to the Registration Statement or Prospectus which shall be reasonably disapproved by
the Agents promptly after reasonable notice thereof; to advise the Agents, promptly after it receives notice thereof, of the
time when any amendment to the Registration Statement or any Rule 462(b) Registration Statement has been filed or becomes effective
or any supplement to the Prospectus or any amended Prospectus has been filed and to furnish the Agents with copies thereof;
to advise the Agents, promptly after it receives notice thereof, of the issuance by the Commission of any stop order or of any
order preventing or suspending the use of any Issuer-Represented Free Writing Prospectus or Prospectus, of the suspension of the
qualification of the Shares for offering or sale in any jurisdiction, of the initiation or threatening of any proceeding for any
such purpose, or of any request by the Commission for the amending or supplementing of the Registration Statement, any Issuer-Represented
Free Writing Prospectus or Prospectus (in each case, including any document incorporated or deemed to be incorporated by reference
therein) or for additional information; and in the event of the issuance of any stop order or of any order preventing or suspending
the use of any Issuer-Represented Free Writing Prospectus or Prospectus or suspending any such qualification, promptly to use its
reasonably efforts to obtain the withdrawal of such order.

 

(b)              
During any period when the delivery of a prospectus is required in connection with the offering or sale of Shares (including,
without limitation, pursuant to Rule 173(d) of the 1933 Act Regulations), if any event shall have occurred as a result of which
the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading,
or, if for any other reason it shall be necessary to amend or supplement the Prospectus (including, without limitation, any document
incorporated by reference therein) in order to comply with the 1933 Act, the 1934 Act, the 1933 Act Regulations or the 1934 Act
Regulations, to notify the Agents and, upon its request, file such document and prepare and furnish without charge to the Agents
as many copies as the Agents may from time to time reasonably request of an amended or supplemented Prospectus (or incorporated
document, as the case may be) that will correct such statement or omission or effect such compliance. Upon such notification, the
Agents will cease selling the Shares on the Company’s behalf pursuant to this Agreement and suspend the use of the Prospectus
until such amendment or supplement is filed; provided, however, that such suspension or termination shall not affect or impair
the parties’ respective obligations with respect to the Shares sold hereunder or which an investor has agreed to purchase
but which have not been delivered by the Company and paid for by such investor as contemplated hereby, prior to the giving of such
notice.

 

(c)               
Unless it obtains the prior written consent of the Agents, and each Agent represents and agrees that, unless it obtains
the prior written consent of the Company, it has not made and will not make any offer relating to the Shares that would constitute
an “issuer free writing prospectus,” as defined in Rule 433 of the 1933 Act Regulations, or that would otherwise constitute
a “free writing prospectus,” as defined in Rule 405 of the 1933 Act Regulations, required to be filed with the Commission.
Any such free writing prospectus consented to by the Company and the Agents is hereinafter referred to as a “Permitted
Free Writing Prospectus.” The Company represents that it has treated and agrees that it will treat each Permitted Free
Writing Prospectus as an “issuer free writing prospectus,” as defined in Rule 433, and has complied and will comply
with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission
where required, legending and record keeping.

 

    	20

     

    

 

(d)              
Promptly from time to time, to take such commercially reasonable action as the Agents may reasonably request to qualify
the Shares for offering and sale under the securities laws of such states and other jurisdictions as the Agents may reasonably
request and to comply with such laws so as to permit the continuance of sales and dealings therein in such jurisdictions for as
long as may be necessary to complete the distribution of the Shares, provided that in connection therewith the Company shall not
be required to qualify as a foreign corporation or to file a general consent to service of process in any jurisdiction or subject
itself to taxation in any such jurisdiction if it is otherwise not so subject.

 

(e)               
To the extent not previously delivered to the Agents, (i) prior to 10:00 a.m., New York City time, on the New York
Business Day next succeeding the date of this Agreement during the period in which a prospectus is required to be delivered under
the 1933 Act, the 1934 Act, the 1933 Act Regulations or the 1934 Act Regulations in connection with any sale of Shares (including,
without limitation, pursuant to Rule 173(d) of the 1933 Act Regulations), to furnish the Agents with copies of the Prospectus in
New York City and Atlanta, Georgia in such quantities as the Agents may from time to time reasonably request, (ii) if the delivery
of a prospectus is required at any time prior to the expiration of nine (9) months after the time of issue of the Prospectus in
connection with the offering or sale of the Shares and if at such time any event shall have occurred as a result of which the Prospectus
as then amended or supplemented would include an untrue statement of a material fact or omit to state any material fact necessary
in order to make the statements therein, in the light of the circumstances under which they were made when such Prospectus is delivered,
not misleading, or, if for any other reason it shall be necessary during such period to amend or supplement the Prospectus in order
to comply with the 1933 Act or the 1933 Act Regulations, to notify the Agents and upon their request to prepare and furnish without
charge to the Agents and to any dealer in securities as many copies as the Agents may from time to time reasonably request of an
amended Prospectus or a supplement to the Prospectus which will correct such statement or omission or effect such compliance, and
(iii) in case the Agents is required to deliver a prospectus in connection with sales of any of the Shares at any time nine (9)
months or more after the time of issue of the Prospectus, upon its request, to prepare and deliver to the Agents as many copies
as the Agents may request of an amended or supplemented Prospectus complying with Section 10(a)(3) of the 1933 Act.

 

(f)               
To make generally available to its securityholders as soon as reasonably practicable, an earnings statement of the Company
and its subsidiaries (which need not be audited) complying with Section 11(a) of the 1933 Act and the 1933 Act Regulations
(including Rule 158).

 

(g)               
Until completion of the distribution of the Shares or such time as the Company is no longer subject to the requirements
of the 1934 Act, to file promptly all documents required to be filed with the Commission pursuant to the 1934 Act and the 1934
Act Regulations within the time periods required by the 1934 Act and the 1934 Act Regulations.

 

(h)              
During a period of five (5) years from the date of the latest effective date of the Registration Statement, to furnish to
the Agents copies of all reports or other communications (financial or other) furnished to all common shareholders, and to deliver
to the Agents as soon as they are available, copies of any reports and financial statements furnished to or filed with the Commission
or any national securities exchange on which any class of securities of the Company is listed; provided, however, that any
such reports or communications that have been furnished or filed with the Commission and are available on its EDGAR system, or
successor filings system thereto, shall be deemed to have been furnished to the Agents.

 

    	21

     

    

 

(i)                
To use the net proceeds received by it from the sale of the Shares pursuant to this Agreement in the manner specified in
each of the General Disclosure Package and the Prospectus under the caption “Use of Proceeds”.

 

(j)                
If the Company elects to rely on Rule 462(b) of the 1933 Act Regulations, to file a Rule 462(b) Registration Statement with
the Commission in compliance with Rule 462(b) of the 1933 Act Regulations by 10:00 p.m., Washington, D.C. time, on the date
of this Agreement, and the Company shall at the time of filing either pay to the Commission the filing fee for the Rule 462(b)
Registration Statement or give irrevocable instructions for the payment of such fee pursuant to Rule 111(b) of the 1933 Act Regulations.

 

(k)              
To comply in all material respects with all requirements of the NASDAQ Global Market with respect to the issuance of the
Shares and will use its reasonable efforts to cause the Shares to be listed on the NASDAQ Global Market and will file with the
NASDAQ Global Market all documents and notices required by the NASDAQ Global Market of companies that have securities that are
traded on the NASDAQ Global Market to effect such listing.

 

(l)                
If applicable, to file with the Commission such information on Form 10-K or Form 10-Q as may be required by Rule 463 of
the 1933 Act Regulations.

 

(m)            
To comply, and to use its reasonable efforts to cause the Company’s directors and officers, in their capacities as
such, to comply, in all material respects, with all effective applicable provisions of the Sarbanes-Oxley Act of 2002 and the rules
and regulations thereunder.

 

(n)              
To reasonably cooperate on a timely basis with any reasonable due diligence request from, or review conducted by, the Agents
or their counsel from time to time in connection with offers and sales of Shares, including, without limitation, and upon reasonable
notice, providing information and making available documents and senior corporate officers, during regular business hours and at
the Company’s principal offices and/or by telephone, as the Agents or their counsel may reasonably request (each such process,
a “Due Diligence Process”).

 

(o)              
Upon the commencement of the offering of Shares under this Agreement, promptly after each (i) date the Registration
Statement or the Prospectus shall be amended or supplemented (other than (1) by an amendment or supplement providing solely
for the determination of the terms of the Shares, (2) in connection with the filing of any report or other document under
Section 13, 14 or 15(d) of the 1934 Act or (3) by a prospectus supplement relating to the offering of other securities
(including, without limitation, other shares of Common Stock)) (each such date, a “Registration Statement Amendment Date”)
and (ii) date on which the Company shall file (x) an Annual Report on Form 10-K, Quarterly Report on Form 10-Q or Earnings
8-K or (y) an amendment to any such document (each such date, a “Company Periodic Report Date”) (each of
the date of the commencement of the offering of Shares under this Agreement and each Registration Statement Amendment Date and
Company Periodic Report Date is hereinafter referred to as a “Representation Date”), to furnish or cause to
be furnished to the Agents (with a copy to counsel to the Agents) a certificate dated such Representation Date (or, in the case
of an amendment or supplement to the Registration Statement or the Prospectus (including, without limitation, by the filing of
an Annual Report on Form 10-K, Quarterly Report on Form 10-Q or Earnings 8-K or any amendment thereto), the date of the effectiveness
of such amendment to the Registration Statement or the date of filing with the Commission of such supplement or any such Form 10-K,
Form 10-Q, Earnings 8-K or amendment thereto, as the case may be), in a form reasonably satisfactory to the Agents to the effect
that the statements contained in the certificates referred to in Section 7(i)and (j) of this Agreement which were last
furnished to the Agents are true and correct as of the date of such certificates as though made at and as of the date of such certificates
(except that such statements shall be deemed to relate to the Registration Statement, the Prospectus and the General Disclosure
Package as amended and supplemented to the date of such certificates) or, in lieu of such certificates, a certificate of the same
tenor as the certificates referred to in Section 7(i) and (j), but modified as necessary to relate to the Registration
Statement, the Prospectus and the General Disclosure Package as amended and supplemented to the date of such certificate. As used
in this paragraph, to the extent there shall be an Applicable Time on or following the applicable Representation Date, “promptly”
shall be deemed to be on or prior to the next succeeding Applicable Time.

 

    	22

     

    

 

(p)              
Upon the commencement of the offering of Shares under this Agreement, and promptly after a Representation Date, to furnish
or cause to be furnished to the Agents (with a copy to counsel to the Agents), unless the Agents otherwise agrees in writing, the
written opinion and letter of counsel to the Company, dated such Representation Date, in a form and substance reasonably satisfactory
to the Agents and their counsel, of the same tenor as the opinions and letters referred to in Section 7(b) of this
Agreement, but modified as necessary to relate to the Registration Statement, the Prospectus and the General Disclosure Package
as amended and supplemented to the date of such opinion and letter or, in lieu of such opinion and letter, counsel last furnishing
any such opinion and letter to the Agents shall furnish the Agents with a letter substantially to the effect that the Agents may
rely on such counsel’s last opinion and letter to the same extent as though each were dated the date of such letter authorizing
reliance (except that statements in such last opinion and letter shall be deemed to relate to the Registration Statement, the Prospectus
and the General Disclosure Package as amended and supplemented to the date of such letter authorizing reliance). As used in this
paragraph, to the extent there shall be an Applicable Time on or following the applicable Representation Date, “promptly”
shall be deemed to be on or prior to the next succeeding Applicable Time. Solely for the purposes of this paragraph, the term “Representation
Date” shall not include the date of filing of any Earnings 8-K or any amendment thereto.

 

(q)              
Upon the commencement of the offering of Shares under this Agreement, and promptly after a Representation Date, to cause
BKD, or other independent accountants reasonably satisfactory to the Agents, to furnish to the Agents (with a copy to counsel to
the Agents), unless the Agents otherwise agree in writing, a letter, dated such Representation Date, in form reasonably satisfactory
to the Agents and its counsel, of the same tenor as the letter referred to in Section 7(d) hereof, but modified as
necessary to relate to the Registration Statement, the Prospectus and the General Disclosure Package as amended and supplemented
to the date of such letter. As used in this paragraph, to the extent there shall be an Applicable Time on or following the applicable
Representation Date, “promptly” shall be deemed to be on or prior to the next succeeding Applicable Time.

 

(r)                
To not, and to cause its subsidiaries not to, and to use reasonable efforts to cause its affiliates and any person acting
on their behalf not to, directly or indirectly, (i) take any action designed to or that has constituted or that reasonably
would be expected to cause or result in the stabilization or manipulation of the price of any security of the Company or (ii) sell,
bid for or purchase the Shares to be issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting
purchases of the Shares to be issued and sold pursuant to this Agreement other than the Agents.

 

(s)               
During the pendency of any Placement Notice (as amended by the corresponding Acceptance, if applicable) given hereunder,
(i) to provide the Agents notice no less than one Regulation M Business Day, to the extent Regulation M is applicable, before
it or any of its subsidiaries or any person acting on their behalf, directly or indirectly, offers to sell, contracts to sell,
sells, grants any option to sell or otherwise disposes of any Common Stock (other than Shares offered pursuant to the provisions
of this Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights to purchase or acquire
Common Stock; provided, that no such restriction shall apply in connection with (1) the issuance, grant or sale of Common
Stock, options to purchase Common Stock, restricted stock units for Common Stock or Common Stock issuable upon the exercise of
options or other equity awards pursuant to any stock option, stock bonus or other stock or compensatory plan or arrangement described
in the Prospectus or (2) the issuance or sale of Common Stock pursuant to any dividend reinvestment plan that the Company
currently has in place or may adopt from time to time, provided the adoption of any such new plan is disclosed to the Agents in
advance; (ii) to the extent Regulation M is applicable, not to, and to cause any affiliated purchasers (as defined in
Rule 100 of Regulation M of the 1933 Act Regulations) of the Company not to bid for, purchase or induce any other persons to bid
for or purchase Shares, including pursuant to (1) any stock repurchase program currently in place as previously approved by the
Board, or (2) any dividend reinvestment plan the Company currently has in place; and (iii) to provide the Agents notice
no less than one Regulation M Business Day, to the extent Regulation M is applicable, before it or any of its subsidiaries or affiliates
or any person acting on their behalf engages in any special selling efforts or selling methods with regard to Shares, including
but not limited to presenting at any investor conference or other similar meeting where potential investors may be present.

 

    	23

     

    

 

6.                 
The Company covenants and agrees with the Agents that the Company will pay or cause to be paid the following, whether or
not the transactions contemplated herein are completed (regardless of whether the sale of the Shares is consummated): (i) the
reasonable out-of-pocket expenses incurred by the Agents in connection with its engagement, including without limitation, reasonable
outside legal fees and expenses, marketing, syndication and travel expenses; (ii) the cost of obtaining all securities
and bank regulatory approvals, including any required FINRA fees, including the filing fees incident thereto; (iii) all
fees and disbursements of the Company’s counsel and accountants in connection with the registration of the Shares under the
1933 Act and all other expenses in connection with the preparation, printing and filing of amendments and supplements thereto and
the mailing and delivering of copies thereof to the Agents and dealers pursuant to the terms of this Agreement; (iv) all
expenses in connection with the qualification of the Shares for offering and sale under state securities as provided in Section 5(d)
hereof, including the reasonable fees and disbursements of counsel for the Agents in connection with such qualification and in
connection with the Blue Sky survey (which counsel’s legal fees would be subject to the cap below in this Section 6);
(v) the cost of printing or reproducing this Agreement, the Blue Sky survey, closing documents (including any compilations
thereof) and any other documents in connection with the offering, purchase, sale and delivery of the Shares; (vi) the
cost and charges of any transfer agent or registrar; and (vii) all other costs and expenses incident to the performance
of the Company’s obligations hereunder which are not otherwise specifically provided for in this Section 6; provided,
however, that the aggregate amount of fees and expenses of legal counsel to the Agents reimbursable by the Company through the
commencement of the offering shall not exceed $100,000.

 

7.                 
The obligations of the Agents hereunder shall be subject, in its sole discretion, to the condition that all representations
and warranties and other statements of the Company herein or in certificates of any officer of the Company delivered pursuant to
the provisions hereof are true and correct as of the time of the execution of this Agreement, and as of each Representation Date,
Applicable Time and Delivery Date, to the condition that the Company shall have performed all of its obligations hereunder theretofore
to be performed, and the following additional conditions:

 

(a)               
The Prospectus containing the Rule 430B Information shall have been filed with the Commission pursuant to Rule 424(b) of
the 1933 Act Regulations in the manner and within the time period required by Rule 424(b) of the 1933 Act Regulations (without
reliance on Rule 424(d)(8) of the 1933 Act Regulations) and in accordance with Section 5(a) hereof; the Registration
Statement, including any Rule 462(b) Registration Statement, has become effective and no stop order suspending the effectiveness
of the Registration Statement or any part thereof shall have been issued and no proceeding for that purpose shall have been initiated
or threatened by the Commission; and all requests for additional information on the part of the Commission shall have been
complied with to the reasonable satisfaction of the Agents.

 

    	24

     

    

 

(b)              
The Agents shall have received, on each date specified in Section 5(p), the written opinion of Schiff Hardin LLP, counsel
for the Company, in substantially the form attached hereto as Annex B. Such counsel may also state that, insofar as either such
opinion involves factual matters, they have relied, to the extent they deem proper, upon certificates of officers of the Company
and its subsidiaries and certificates of public officials.

 

(c)               
The Agents shall have received the opinion of Vedder Price P.C., counsel for the Agents. The opinion shall address the matters
as the Agents may reasonably request. In giving such opinion such counsel may rely, as to all matters governed by the laws of jurisdictions
other than the law of the States of New York and Illinois and the federal law of the United States, upon the opinions of counsel
satisfactory to the Agents. Such counsel may also state that, insofar as such opinion involves factual matters, they have relied,
to the extent they deem proper, upon certificates of officers of the Company and its subsidiaries and certificates of public officials.

 

(d)              
On each date specified in Section 5(q), BKD shall have furnished to the Agents a letter or letters, dated the respective
dates of delivery thereof, in form and substance as previously provided to counsel to the Agents.

 

(e)               
The Agents shall have received satisfactory evidence of the good standing or corporate existence of the Company and its
Significant Subsidiaries in their respective jurisdictions of organization, in each case in writing or any standard form of telecommunication
from the appropriate governmental authorities of such jurisdictions.

 

(f)               
(i) Neither the Company nor any of its subsidiaries shall have sustained since the date of the latest audited financial
statements included in each of the Registration Statement, the General Disclosure Package and the Prospectus any material loss
or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any
labor dispute or court or governmental or regulatory action, order or decree, otherwise than as set forth or disclosed or contemplated
in each of the General Disclosure Package and the Prospectus, and (ii) since the respective dates as of which information
is given in each of the Registration Statement, the General Disclosure Package and the Prospectus there shall not have been any
change in the capital stock or long-term debt of the Company or any of its subsidiaries or any change in or affecting the general
affairs, management, financial position, capital adequacy for regulatory purposes, shareholders’ equity or results of operations
of the Company and its subsidiaries, otherwise than as set forth or disclosed or contemplated in each of the Registration Statement,
the General Disclosure Package and the Prospectus, or their business affairs, business prospects or regulatory affairs, the effect
of which, in any such case described in clause (i) or (ii), is in the reasonable judgment of the Agents so material and adverse
as to make it impracticable or inadvisable to proceed with the public offering or the delivery of the Shares being delivered at
such Applicable Time or Delivery Date, as the case may be, on the terms and in the manner contemplated in each of the General Disclosure
Package and the Prospectus.

 

(g)               
On or after the date hereof there shall not have occurred any of the following: (i) a Material Adverse Effect;
(ii) a suspension or material limitation in trading in securities generally on the New York Stock Exchange, the NASDAQ Capital
Market, the NASDAQ Global Market or the NASDAQ Global Market; (iii) a suspension or material limitation in trading in
the Company’s securities on NASDAQ Global Market; (iv) a general moratorium on commercial banking activities declared
by either federal, Illinois or New York authorities or a material disruption in commercial banking or securities settlement or
clearance services in the United States; (v) the outbreak or escalation of hostilities involving the United States or
the declaration by the United States of a national emergency or war; or (vi) the occurrence of any other calamity or
crisis or any change in financial, political or economic conditions in the United States or elsewhere, including, without limitation,
as a result of terrorist activities occurring after the date hereof, if the effect of any such event specified in clause (v)
or (vi), in the reasonable judgment of the Agents makes it impracticable or inadvisable to proceed with the public offering or
the delivery of the Shares on the terms and in the manner contemplated in the Prospectus.

 

    	25

     

    

 

(h)              
To the extent required, the Shares to be sold shall have been duly listed for quotation on the NASDAQ Global Market. The
Common Stock is and continues to be registered pursuant to Section 12(b) of the 1934 Act and is listed on the NASDAQ Global
Market, and the Company has taken no action designed to, or likely to have the effect of, terminating the registration of the Common
Stock under the 1934 Act or delisting the Common Stock from the NASDAQ Global Market, nor has the Company received any notification
that the Commission or FINRA is contemplating terminating such registration or listing.

 

(i)                
The Agents shall have received a certificate of the Chief Executive Officer of the Company and of the Chief Financial Officer
of the Company on each Representation Date specified in Section 5(o) hereof to the effect that (i) the representations
and warranties in Section 1(a) hereof are true and correct with the same force and effect as though made at and as of each
Representation Date, (ii) the Company has complied with all agreements and satisfied all conditions on its part to be performed
or satisfied at or prior to each Representation Date, and (iii) no stop order suspending the effectiveness of the Registration
Statement has been issued and no proceedings for that purpose have been instituted or are pending or are to their knowledge contemplated
by the Commission.

 

(j)                
The Agents shall have received a certificate from the President of the Bank and of the Chief Financial Officer of the Bank,
dated as of each Representation Date to the effect that the representations and warranties in Section 1(b) hereof are true
and correct with the same force and effect as though made at and as of each Representation Date.

 

(k)              
The Company shall have furnished or cause to be furnished promptly to the Agents a Placement Notice or such other instructions
provided pursuant to Section 2(b) as requested by the Agents;

 

(l)                
The Company and the Agents hereby agree that the date of commencement of sales under this Agreement shall be the date the
Company and the Agents mutually agree (which may be later than the date of this Agreement).

 

    	26

     

    

 

8.                 
(a)The Company agrees to indemnify and hold harmless each of the Agents, each person, if any, who controls any Agent
within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act, and its respective partners, directors,
officers, employees and agents and each affiliate of an Agent within the meaning of Rule 405 against any losses, claims, damages
or liabilities, joint or several, to which an Agent may become subject, under the 1933 Act or otherwise, insofar as such losses,
claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement, the General Disclosure Package, the Prospectus, or any individual
Issuer-Represented Limited-Use Free Writing Prospectus, which considered together with the General Disclosure Package, or any amendment
or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required
to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not
misleading, and will reimburse the Agent for any legal or other expenses reasonably incurred by the Agent in connection with investigating
or defending any such action or claim as such expenses are incurred; provided, however, that the Company shall
not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue
statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, the General Disclosure
Package, the Prospectus, or any individual Issuer-Represented Limited-Use Free Writing Prospectus, which considered together with
the General Disclosure Package, or any amendment or supplement in reliance upon and in conformity with written information furnished
to the Company by the Agent expressly for use therein, provided that the Company and the Agent hereby acknowledge and agree
that the only information that the Agents have furnished to the Company consists solely of the information described as such in
subsection (b) below.

 

(b)              
Each of the Agents, severally and not jointly, agrees to indemnify and hold harmless the Company, its officers, directors
and each person, if any, who controls the Company, within the meaning of Section 15 of the 1933 Act or Section 20 of
the 1934 Act, against any losses, claims, damages or liabilities to which the Company may become subject, under the 1933 Act or
otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon
an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, the General Disclosure
Package, the Prospectus, or any individual Issuer-Represented Limited-Use Free Writing Prospectus, which considered together with
the General Disclosure Package, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged
omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of
the circumstances under which they were made, not misleading, in each case to the extent, but only to the extent, that such untrue
statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement, the General Disclosure
Package, the Prospectus, or any individual Issuer-Represented Limited-Use Free Writing Prospectus, which considered together with
the General Disclosure Package, or any amendment or supplement thereto, in reliance upon and in conformity with written information
furnished to the Company by any Agent expressly for use therein (provided, however, that the Company and the Agents hereby acknowledge
and agree that the only such information that any Agent has furnished to the Company consists solely of the following: (i) the
statements set forth in the final sentence of the first paragraph under the “Plan of Distribution” in the Prospectus
Supplement, and (ii) such other statements as the Agents may, by notice given to the Company in writing after the date of
this Agreement, have been furnished to the Company by the Agents specifically for inclusion in the Registration Statement, the
Prospectus, the General Disclosure Package, any Issuer-Represented Limited-Use Free Writing Prospectus or any amendment or supplement
thereto (collectively, the “Agent Information”) and will reimburse the Company for any legal or other expenses reasonably
incurred by the Company in connection with investigating or defending any such action or claim as such expenses are incurred.

 

    	27

     

    

 

(c)               
Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice of the commencement of any action,
such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection,
notify the indemnifying party in writing of the commencement thereof, but the omission so to notify the indemnifying party shall
not relieve it from any liability that it may have to any indemnified party otherwise than under such subsection, unless the indemnifying
party has been prejudiced thereby. In case any such action shall be brought against any indemnified party and it shall notify the
indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate therein and, to the extent
that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably
satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party which consent shall not
be unreasonably withheld, conditioned or delayed, be counsel to the indemnifying party), provided, however, if the defendants in
any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded
that a conflict may arise between the positions of the indemnifying party and the indemnified party in conducting the defense of
any such action or that there may be legal defenses available to its and/or other indemnified parties which are different from
or additional to those available to the indemnifying party, the indemnified party or parties shall have the right to select separate
counsel to assume such legal defenses of such indemnified party or parties (but not to control the defense of such action as to
the indemnifying party) and to otherwise participate in the defense of such action on behalf of such indemnified party or parties,
and, after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying
party shall not be liable to such indemnified party under such subsection for any legal expenses of other counsel or any other
expenses, in each case subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable
costs of investigation unless (i) the indemnified party shall have employed separate counsel in accordance with the proviso
to the preceding sentence (it being understood, however, that the indemnifying party shall not be liable for the fees and expenses
of more than one separate counsel (together with, to the extent necessary in the circumstances, one separate local counsel in the
jurisdiction in which such action is pending) to represent all indemnified parties, approved by the indemnifying party) or (ii) the
indemnifying party shall not have employed counsel satisfactory to the indemnified party within a reasonable time after notice
of commencement of the action, in each of which cases the fees and expenses of one counsel for the indemnified party or parties
(in addition to local counsel) shall be at the expense of the indemnifying party. The indemnifying party under this Section 8
shall not be liable for any settlement or compromise of or agreed judgment in any proceedings effected or agreed to without its
prior express written consent, but if any such proceeding is settled or compromised, or an agreed judgment is entered into, with
such consent or if there be a final judgment (other than an agreed judgment) rendered in favor of for the plaintiff, the indemnifying
party agrees to indemnify the indemnified party against any loss, claim, damage, liability or expense by reason of such settlement,
compromise, agreed judgment or other judgment. No indemnifying party shall, without the written consent of the indemnified party,
effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action
or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an
actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional
release of the indemnified party from all liability arising out of such action or claim and (ii) does not include a statement
as to or an admission of fault, culpability or a failure to act, by or on behalf of any indemnified party.

 

(d)              
If the indemnification provided for in this Section 8 is unavailable to or insufficient to hold harmless an indemnified
party under subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof)
referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as
a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to
reflect the relative benefits received by the Company on the one hand and the Agents on the other from the offering of the Shares.
If, however, the allocation provided by the immediately preceding sentence is not permitted by applicable law, then each indemnifying
party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect
not only such relative benefits but also the relative fault of the Company, on the one hand, and the Agents, on the other, in
connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect
thereof), as well as any other relevant equitable considerations. The relative benefits received by the Company, on the one hand,
and the Agents, on the other, shall be deemed to be in the same proportion as the total net proceeds from the offering (before
deducting expenses) received by the Company bear to the total discounts and commissions received by the Agents. The relative fault
shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or
the omission or alleged omission to state a material fact relates to information supplied by the Company, on the one hand, or
the Agents, on the other, and the parties’ relative intent, knowledge, access to information and opportunity to correct
or prevent such statement or omission. The Company and the Agents agree that it would not be just and equitable if contributions
pursuant to this subsection (d) were determined by pro rata allocation or by any other method of allocation which does
not take account of the equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified
party as a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above in this subsection
(d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating
or defending any such action or claim.

 

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(e)               
The remedies provided for in this Section 8 are not exclusive and shall not limit any rights or remedies which may
otherwise be available to an indemnified party at law or in equity. The obligations of the Company under this Section 8 shall
be in addition to any liability which the Company may otherwise have and shall extend, upon the same terms and conditions, to
each person, if any, who controls (within the meaning of the 1933 Act) any Agent, or any of the respective partners, directors,
officers and employees of an Agent or any such controlling person. The obligations of the Agents under this Section 8 shall
be in addition to any liability which the Agents may otherwise have and shall extend, upon the same terms and conditions, to each
person, if any, who controls (within the meaning of the 1933 Act) the Company or any of the directors and officers of the Company
or any such controlling person.

 

9.                 
(a)The Company shall have the right, by giving written notice as hereinafter specified, to terminate this Agreement
in its sole discretion at any time. Any such termination shall be without liability of any party to any other party except that
(i) with respect to any pending sale through the Agents for the Company, the obligations of the Company, including in respect
of compensation of the Agents, shall remain in full force and effect notwithstanding such termination and (ii) the representations
and warranties in Section 1 and the provisions of Sections 6, 8, 12, 13, 14, 15 and 16 of this Agreement shall
remain in full force and effect notwithstanding such termination.

 

(b)              
An Agent shall have the right, by giving written notice as hereinafter specified, to terminate this Agreement as to itself
only in its sole discretion at any time. Any such termination shall be without liability of any party to any other party except
that the representations and warranties in Section 1 and the provisions of Sections 6, 8, 12, 13, 14, 15 and 16
of this Agreement shall remain in full force and effect notwithstanding such termination.

 

(c)               
This Agreement shall remain in full force and effect unless terminated pursuant to Section 9(a) or Section 9(b)
above or otherwise by mutual agreement of the parties; provided, that any such termination shall in all cases be deemed
to provide that the representations and warranties in Section 1 and the provisions of Sections 6, 8, 12, 13, 14,
15 and 16 of this Agreement shall remain in full force and effect notwithstanding such termination, and will automatically terminate
following the sale of the Shares having an aggregate gross sales price of $20 million.

 

(d)              
Any termination of this Agreement shall be effective on the date specified in such notice of termination or the date mutually
agreed by the parties, as the case may be; provided, that such termination shall not be effective until the close of business
on the date of receipt of such notice by the Agents or the Company, or the date mutually agreed by the parties, as the case may
be. If such termination shall occur prior to the Delivery Date for any sale of Stock, such sale shall settle in accordance with
the provisions of Section 2(i) hereof.

 

(e)               
If this Agreement is terminated, the Company shall not then be under any liability to either of the Agents except as provided
in Section 6 and Section 8 hereof, which provisions shall survive termination.

 

    	29

     

    

 

10.             
The respective indemnities, agreements, representations, warranties and other statements of the Company and the Agents,
as set forth in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall remain in full
force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of the Agents
or any controlling person of an Agent, or the Company, or any officer or director or controlling person of the Company, and shall
survive delivery of and payment for the Shares.

 

11.             
The Company acknowledges and agrees that:

 

(a)               
in connection with the sale of the Shares, each of the Agents has been retained solely to act as a sales agent, and no fiduciary,
advisory or agency relationship between the Company or the Bank, on the one hand, and either of the Agents, on the other hand,
has been created in respect of any of the transactions contemplated by this Agreement;

 

(b)              
it has been advised that each of the Agents and their affiliates are engaged in a broad range of transactions which may
involve interests that differ from those of the Company and that neither Agent has any obligation to disclose such interests and
transactions to the Company by virtue of any fiduciary, advisory or agency relationship; and

 

(c)               
it waives, to the fullest extent permitted by law, any claims it may have against each of the Agents for breach of fiduciary
duty or alleged breach of fiduciary duty to the Company and agrees that each of the Agents shall have no liability (whether direct
or indirect) to the Company in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on behalf
of or in right of the Company, including shareholders, employees, depositors or creditors of the Company.

 

12.             
All statements, requests, notices and agreements hereunder shall be in writing, as follows: (1) if to the Agents, shall
be delivered or sent by mail or overnight delivery service, if for Sandler O’Neill, at Sandler O’Neill + Partners,
L.P., 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, Attention: General Counsel, or if for FIG, at FIG Partners,
LLC, 20 North Wacker Drive, Suite 2035, Chicago, Illinois 60606, and, in each case, with a copy to Vedder Price P.C., 222 North
LaSalle Street, Suite 2600, Chicago, Illinois 60601, Attention: Jennifer Durham King, Esq.; and (2) if to the Company, shall
be delivered or sent by mail or facsimile to First Mid-Illinois Bancshares, Inc., 1421 Charleston Avenue, Mattoon, Illinois 61938
Attention: Joseph R. Dively, with a copy to Schiff Hardin LLP, 233 South Wacker Drive, Suite 7100, Chicago, Illinois 60606 Attention:
Jason L. Zgliniec, Esq. Any such statements, requests, notices or agreements shall take effect upon receipt thereof.

 

13.             
This Agreement shall be binding upon, and inure solely to the benefit of, the Agents and the Company, and, to the extent
provided in Sections 8 hereof, the officers and directors of the Company and each person who controls the Company or an Agent,
and their respective heirs, executors, administrators, successors and assigns, and no other person shall acquire or have any right
under or by virtue of this Agreement. No purchaser of any of the Shares from the Agents shall be deemed a successor or assign by
reason merely of such purchase.

 

14.             
Time shall be of the essence of this Agreement. As used herein, the term “business day” shall mean any day when
the Commission’s office in Washington, D.C. is open for business.

 

15.             
THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES OF SAID STATE OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.

 

    	30

     

    

 

THE COMPANY, ON BEHALF OF ITSELF AND ITS SUBSIDIARIES,
HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE FEDERAL AND NEW YORK STATE COURTS LOCATED IN THE CITY OF NEW YORK
IN CONNECTION WITH ANY SUIT, ACTION OR PROCEEDING RELATED TO THIS AGREEMENT OR ANY OF THE MATTERS CONTEMPLATED HEREBY, IRREVOCABLY
WAIVES ANY DEFENSE OF LACK OF PERSONAL JURISDICTION AND IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING
MAY BE HEARD AND DETERMINED IN ANY SUCH COURT. THE COMPANY, ON BEHALF OF ITSELF AND ITS SUBSIDIARIES, IRREVOCABLY WAIVES,
TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE
TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT, ACTION
OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

 

16.             
This Agreement may be executed by any one or more of the parties hereto in any number of counterparts, each of which shall
be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. Any facsimile or
electronically transmitted copies hereof or signatures hereon shall, for all purposes, be deemed originals.

 

17.             
No amendment or waiver of any provision of this Agreement, nor any consent or approval to any departure therefrom, shall
in any event be effective unless the same shall be in writing and signed by the parties hereto.

 

18.             
The invalidity or unenforceability of any Section, paragraph or provision of this Agreement shall not affect the validity
or enforceability of any other Section, paragraph or provision hereof. If any Section, paragraph or provision of this Agreement
is for any reason determined to be invalid or unenforceable, there shall be deemed to be made such minor changes (and only such
minor changes) as are necessary to make it valid and enforceable.

 

19.             
This Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company, the Bank
and the Agents, or any of them, with respect to the subject matter hereof.

 

[Signatures on Next Page]

 

 

 

 

 

 

    	31

     

    

 

If the foregoing is in accordance with your
understanding, please sign and return to us four counterparts hereof, and upon the acceptance hereof by you, this letter and such
acceptance hereof shall constitute a binding agreement between the Agents, the Bank and the Company.

 

	 	Very truly yours,

    

    FIRST MID-ILLINOIS BANCSHARES, INC.

    

    By:  /s/ Joseph R. Dively

             Joseph R. Dively

             President and Chief Executive Officer
	 	 
	 	 
	 	FIRST MID-ILLINOIS BANK & TRUST, N.A.

    

    By:  /s/ Joseph R. Dively

            Joseph R. Dively

            President
	
         

         

        Accepted as of the date hereof:

        

        SANDLER O’NEILL + PARTNERS, L.P.

        

        By: Sandler O’Neill & Partners, Corp., the sole general partner

        

        

        By: /s/ Jennifer A. Docherty

        Name: Jennifer A. Docherty

        Title: Authorized Signatory

         

        FIG PARTNERS, LLC

By: /s/ Matthew F.X. Veneri

Name: Matthew F.X. Veneri

Title: Managing Principal

         
	 

 

 

 

 

    	32

     

    

 

SCHEDULE I

 

Placement Notice Information

 

Company Representatives

 

		1.	Joseph R. Dively

 

		2.	Michael L. Taylor

 

		3.	Matthew K. Smith

 

Agent Representatives

 

For Sandler O’Neill & Partners, L.P.:

 

Robert A. Kleinert

Attention: Syndicate Desk

 

For FIG Partners, LLC:

 

Greg Gersack

Senior Managing Principal

 

 

 

 

 

     

     

    

 

Schedule II

 

List of Subsidiaries

 

	
        Banking Subsidiary

        
	
        Jurisdiction
        of Organization

        

	
         

        First Mid-Illinois Bank & Trust, N.A.
	
         

        OCC

 

 

	
        Nonbanking Subsidiary

        
	
        Jurisdiction
        of Organization

        

	 	 
	Mid-Illinois Data Services, Inc.	Delaware
	 	 
	The Checkley Agency, Inc. (d/b/a First Mid Insurance Group)	Illinois
	 	 
	First Mid-Illinois Statutory Trust I	Delaware
	 	 
	First Mid-Illinois Trust II	Delaware
	 	 
	Clover Leaf Statutory Trust I	Maryland

 

 

 

 

 

 

 

     

     

    

 

Schedule III

 

Issuer-Represented General Use Free Writing Prospectus

 

 

NONE.

 

 

 

 

 

 

 

 

 

     

     

    

 

ANNEX A

 

Form of Placement Notice

 

[DATE]

 

	From:	First Mid-Illinois Bancshares, Inc.

Attention:  Matthew K. Smith

Chief Financial Officer

1421 Charleston Avenue

Mattoon, Illinois 61938
	 	 
	To:	
        Sandler O’Neill & Partners, L.P.

        Attention: Syndicate Desk

        1251 Avenue of the Americas, 6th Floor

        New York, New York 10020

         

        OR

         

        FIG Partners, LLC

        20 North Wacker Drive

        Suite 2035

        Chicago, IL 60606

        Attention: Greg Gersack

         

	 	Subject:  Placement Notice

 

Ladies and Gentlemen:

 

Pursuant to the terms and subject to the conditions
contained in the Sales Agency Agreement between First Mid-Illinois Bancshares, Inc. (the “Company”), and Sandler
O’Neill & Partners, L.P. (“Sandler O’Neill”) and FIG Partners, LLC (“FIG”) (each,
an “Agent” and collectively, the “Agents”) dated August 16, 2017 (the “Agreement”),
I, Matthew K. Smith, Chief Financial Officer of the Company, hereby request on behalf of the Company that [the Agent] sell up to
[________] shares of the Company’s common stock, $4.00 par value per share (the “Common Stock”), in accordance
with the following instructions:

 

	First date on which Shares may be sold:	[DATE AND TIME]
	Last date on which Shares may be sold:	[DATE AND TIME]
	Dates on which Shares may not be sold:	[DATES]
	Maximum number of Shares to be sold per Trading Day: 	[_______]
	Minimum market price per Share:	$[______]
	 	 

Capitalized terms defined in the Agreement shall
have the same meanings when used herein.

 

ADDITIONAL SALES PARAMETERS MAY BE ADDED,
SUCH AS THE MANNER IN WHICH SALES ARE TO BE MADE BY THE AGENT[S].

 

[Signature Page Follows]

 

 

     

     

    

 

 

	 	 	FIRST MID-ILLINOIS BANCSHARES, INC.
	 	 	 
	 	 	By: 	 
	 	 	 	Matthew K. Smith
	 	 	 	Chief Financial Officer
	 	 	 
	Accepted as of the date hereof:	 	 
	 	 	 
	SANDLER O’NEILL & PARTNERS, L.P.	 	 
	 	 	 
	By: 	Sandler O’Neill & Partners Corp., the sole general partner	 	 
	 	 	 
	 	 	 
	By:	 	 	 
	Name: 	 	 	 
	Title:	 	 	 
	 	 	 
	 	 	 
	OR	 	 
	 	 	 
	FIG PARTNERS, LLC	 	 
	 	 	 
	By:	 	 	 
	Name: 	 	 	 
	Title:

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