Document:

Exhibit

CERTAIN INFORMATION CONTAINED IN THIS EXHIBIT, IDENTIFIED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (i) NOT MATERIAL AND (ii) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED

AMENDMENT NO. 10 TO AMENDED AND RESTATED 
MASTER TRUST AGREEMENT 

This AMENDMENT NO. 10 TO AMENDED AND RESTATED MASTER TRUST AGREEMENT (“Amendment No. 10”) is made effective as of April 2, 2019 (“Amendment Effective Date”) by and between MoneyGram Payment Systems, Inc. (“MoneyGram”), a Delaware corporation with a principal place of business at 2828 N. Harwood, Dallas, TX 75201 and Walmart Inc. f/k/a Wal-Mart Stores, Inc. (“Walmart”), a Delaware corporation, with a principal place of business at 702 SW 8th Street, Bentonville, AR 72716.  MoneyGram and Walmart are collectively referred to in this Amendment No. 10 as the “Parties” and each individually as a “Party.

WHEREAS, MoneyGram and Walmart effective February 1, 2016 entered into that certain Amended and Restated Master Trust Agreement (as amended, “Agreement”), pursuant to which, among other things, MoneyGram appointed Walmart as its limited agent and authorized delegate for the sole purpose of offering and selling Services;

WHEREAS, MoneyGram and Walmart now desire to amend the Agreement as of the Amendment Effective Date as set forth in this Amendment No. 10;

NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein and for other good and valuable consideration, the Parties agree as follows:

1.    Capitalized terms used in this Amendment No. 10 and not specifically defined in this Amendment No. 10 shall have the meaning set forth in the Agreement.

2.    Attachment P, “Cash Payout Service Attachment,” of the Agreement is incorporated into the Agreement.

3.    Each Party acknowledges and agrees that each and every provision of this Amendment No. 10, including the recitals and any “whereas” clauses, is contractual in nature and binding on the Parties.  Except as expressly set forth in this Amendment No. 10, nothing in this Amendment No. 10 will modify, alter or amend any provision or term of the Agreement.  

IN WITNESS HEREOF, the Parties have caused this Amendment No. 10 to be executed by their fully authorized representatives as of the Amendment Effective Date.
	
					
	Walmart Inc.
	 
	 
	MONEYGRAM PAYMENT SYSTEMS,
 INC.

	By:
	/s/ Daniel J. Eckert
	 
	 By:
	 /s/ W. Alexander Holmes

	Name:
	Daniel J. Eckert
	 
	 Name:
	W. Alexander Holmes

ATTACHMENT P

CASH PAYOUT SERVICE ATTACHMENT
		
	A.
	Incorporation.  Pursuant to this Cash Payout Service Attachment by and between Walmart and MoneyGram (the “CPS Attachment”), MoneyGram hereby authorizes Walmart to perform and Walmart hereby agrees to perform the Cash Payout Services at each Agent Location.  This CPS Attachment is a part of and incorporated into that certain Amended and Restated Master Trust Agreement, effective February 1, 2016 by and between Walmart and MoneyGram (the “Agreement”).  As used herein, “Cash Payout Services” means MoneyGram’s Cash Payout Services pursuant to which Commercial Entities may make disbursements at the Agent Locations to consumers. ; “CPS Transfer Amount” means the funds disbursed to a consumer for the purposes of being remitted or transferred from a Commercial Entity; and “Commercial Entity” is the business entity provider of certain products and/or services from whom disbursements are being made. For purposes of this agreement, Walmart and the Walmart Foundation are considered to be Commercial Entities when disbursing funds to Walmart associates for emergency assistance, disaster relief, and other purposes as deemed by Walmart.; “Designated Recipient” means the individual identified by MoneyGram to receive the CPS Transfer Amount when it is delivered by the local paying agent of Walmart. Terms not defined in this CPS Attachment are as defined in the Agreement.  The Cash Payout Service shall be added to the definition of Services as defined in the Agreement. 

		
	B.
	Authorization.  MoneyGram authorizes Walmart to make certain disbursements in the Agent Locations to Consumers from the Commercial Entities, and from any other Commercial Entities MoneyGram may permit in the future.  MoneyGram shall communicate to Walmart, either in writing, electronically (through the Interface, Equipment and Software) or via such other methods determined by MoneyGram and Walmart the Commercial Entities from whom disbursements can be made. Walmart, in its sole and absolute discretion, shall have the right to decide which Commercial Entities it accepts disbursements from for purposes of Cash Payout Services.  Additionally, Walmart, in its sole and absolute discretion, can choose to discontinue accepting disbursements from Commercial Entities during the Term of the Agreement without terminating the CPS Attachment.

		
	C.
	[Reserved].

		
	D.
	Performance of the Cash Payout Service.

		
	(i)
	Walmart shall pay or deliver the CPS Transfer Amount to the Designated Recipient in currency.  The Cash Payout Amount will normally be available for pick-up immediately following the initiation and proper authentication and authorization of the transaction., subject to the normal business hours of operation of the Agent Location.

		
	(ii)
	A Designated Recipient will be required by Walmart to provide satisfactory identification in order to obtain the Cash Payout Amount.  Walmart will have no responsibility for any wrongful or unauthorized use of any unique MoneyGram identification number or code.  Walmart will not charge an additional service fee to the Designated Recipient.  Depending on the amount of the transaction, a Designated Recipient may be required to provide additional identification.

Page 2 - Confidential.

		
	(iii)
	Walmart is responsible for any funds discrepancy not timely reported to MoneyGram.   Walmart will be responsible for responding to and resolving all claims, inquiries and complaints from Designated Recipients arising out of the actions of Walmart in connection with Cash Payout Services.  MoneyGram will cooperate with Walmart in resolving such inquiries and complaints

		
	E.
	Term and Termination.

		
	F.
	This CPS Attachment shall commence on the Effective Date and continue for the Term of the Agreement, unless the Agreement is terminated prior to the end of the Term in accordance with Section 9 of the Agreement. 

		
	(i)
	The terms of this CPS Attachment may continue during the Tail Period if requested by Walmart, and the Agreement was not terminated early by MoneyGram pursuant to Section 9(b)(i), (ii), (iii) or (iv) of the Agreement, and the terms of this CPS Attachment shall continue in full force and effect during such Tail Period.  For purposes of clarity, the Tail Period shall be included in the definition of the Term.  As used herein, the “Tail Period” shall mean the period commencing on the date the Term is to expire and shall end on the earliest of:

		
	(1)
	the date on which Walmart notifies MoneyGram that Walmart desires for the Tail Period to end;

		
	(2)
	the date on which the Parties have entered into a new or replacement CPS Attachment that supersedes the prior CPS Attachment; or

		
	(3)
	Six (6) months from the date the Tail Period commenced.

		
	(ii)
	Walmart agrees to cooperate with MoneyGram during the Walmart Post Termination Transition Period.  As used herein, the “Walmart Post Termination Transition Period” shall commence on the effective date of any termination of this CPS Attachment and shall end ninety (90) days thereafter.

		
	G.
	Cash Payout Service Compensation.

		
	(i)
	Walmart shall be entitled to a Cash Payout Services commission (“CPS Commission”) for each Cash Payout Service transaction performed by Walmart. 

		
	(ii)
	For each Cash Payout Service transaction conducted by Walmart for disbursements from the Walmart Foundation, [***], or any New Commercial Entity, MoneyGram agrees to pay Walmart a CPS Commission of $[***]. As used herein, New Commercial Entity shall mean a Commercial Entity in which Walmart did not disburse funds from prior to the Effective Date of this CPS Attachment. 

		
	(iii)
	For each Cash Payout Service transaction conducted by Walmart for disbursement from any Commercial Entity that Walmart disbursed funds from prior to the Effective Date of this CPS Attachment, other than the Walmart Foundation and [***], MoneyGram agrees to pay Walmart a CPS Commission of $[***].  

		
	(iv)
	MoneyGram and Walmart may agree from time to time to implement special initiatives for certain transactions.  For those special initiatives, the Parties may agree to a modified CPS Commission for such transactions.

		
	H.
	Remittances/Settlement.  MoneyGram shall remit to Walmart by wire transfer the applicable CPS Net Payable Amount for Cash Payout Services on a daily basis, no later than the first business day after the applicable Cash Payout Service transaction.  As used herein, the “CPS Net Payable 

Page 3 - Confidential.

Amount” for Cash Payout Services is the sum of (a) and (b), where (a) equals the sum of all CPS Transfer Amounts and (b) equals the sum of all CPS Commissions due to Walmart.

Page 4 - Confidential.Exhibit 10.1

 

THE FIRST BANCSHARES, INC.

2007 STOCK INCENTIVE PLAN

 

Stock Incentive Agreement

for Restricted Stock Award

 

This Agreement is made
this the _____ day of ______________, 20___ by and between The First Bancshares, Inc. (the “Company”) and _________________________________
(the “Grantee”) pursuant to The First Bancshares, Inc. 2007 Stock Incentive Plan (the “Plan”).

 

WITNESSETH:

 

WHEREAS, the Board
of Directors of the Company recognizes the important role the Grantee plays in the success of the Company; and

 

WHEREAS, the Board
of Directors desires to reward the Grantee with a stake in the ownership of the Company upon the conditions and terms contained
within this Stock Incentive Agreement (the “Award Agreement”).

 

NOW, THEREFORE,
the Company hereby grants Grantee the right to earn the following equity grant (the “Award”), and the Company and Grantee
agree as follows with respect to such Award:

 

ARTICLE I

TERMS OF GRANT

 

	1.1	Name of Grantee:	(Insert Individual’s Name)
	 	 	 
	1.2	Date of Grant:	(Insert Month, Day, Year)
	 	 	 
	1.3	Type of Equity Granted:	Restricted Stock Award
	 	 	 
	1.4	Number of Equity Shares Granted:	(Insert Number of equity shares granted)
	 	 	 
	1.5	Vesting Schedule:	100% vested on the 5th Anniversary of the Date of Grant (the “Vesting Date”)

 

ARTICLE
II

restricted
stock

 

2.1         Grant
of Restricted Stock. The Award under this Agreement grants to Grantee the number of shares of Restricted Stock of the Company
as provided in Section 1.4 above, subject to the terms and conditions provided herein.

 

2.2         Issue
Price. The Grantee shall not be required to pay any issue price to the Company in exchange for the Restricted Stock granted
hereunder.

 

2.3         Distributions
and Voting Rights. 

 

(a)          The
Grantee shall be entitled to any and all dividends and other distributions with respect to shares of Restricted Stock that become
payable during the Restricted Period; provided, however, that no dividends or other distributions shall be payable to or for the
benefit of the Grantee for shares of Restricted Stock with respect to record dates occurring prior to the Grant Date, or with respect
to record dates occurring on or after the date, if any, on which the Grantee has forfeited those shares of Restricted Stock. All
such dividends, whether cash or in-kind, and other cash distributions, if any, with respect to the Restricted Stock, shall be withheld
by the Company and shall be subject to the terms of this Award Agreement and shall be paid to the Grantee, without interest, only
when, and if, the Grantee becomes vested in the Restricted Stock. All such dividends and other distributions, if any, shall be
paid to Grantee in a single payment as soon as feasible following the date on which the Grantee vests in the Restricted Stock,
but in no event more than ninety (90) days after such date.

 

    	 	 	 

     

    

  

(b)          The
Grantee shall be entitled to vote the shares of Restricted Stock during the Restricted Period to the same extent as would have
been applicable to the Grantee if the Grantee was then vested in the shares; provided, however, that the Grantee shall not be entitled
to vote the shares with respect to record dates for such voting rights arising prior to the Grant Date, or with respect to record
dates occurring on or after the date, if any, on which the Grantee has forfeited those shares of Restricted Stock.

 

2.4         Deposit
of Shares of Restricted Stock. The shares of Restricted Stock covered by this Award shall be represented by a stock certificate
registered in the Grantee’s name, or by uncertificated shares designated for the Grantee in book-entry form on the records
of the Company’s transfer agent, subject to the restrictions set forth in this Agreement. Any stock certificate issued shall
bear the following or a similar legend:

 

“The transferability of this
certificate and the shares of Common Stock represented hereby are subject to the terms, conditions and restrictions (including
forfeiture) contained in the Stock Incentive Award Agreement entered into between the registered owner and The First Bancshares,
Inc. A copy of such plan and agreement is on file in the offices of The First Bancshares, Inc., 6480 U.S. Hwy. 98 West, Suite A,
Hattiesburg, Mississippi, 39402”

 

Any Common Stock certificates or book-entry
uncertificated shares evidencing such shares shall be held in custody by the Company or, if specified by the Compensation Committee,
with a third party custodian or trustee, until the restrictions thereon shall have lapsed, and, as a condition of this Award, the
Grantee shall deliver a stock power, duly endorsed in blank, relating to any certificated restricted shares of Common Stock covered
by this Award. As and when the Grantee (or the Grantee’s beneficiary in the event of the Grantee’s death, designated
as provided in Section 5.8) becomes vested in the shares of Restricted Stock or when the Restricted Period (as defined in Section
2.6) ends, if later, and the Grantee has remitted payment of, or provided for the withholding of, all taxes the Company is required
to withhold as provided in Section 5.9(a) below, the Company shall deliver to the Grantee (or the Grantee’s beneficiary in
the event of the Grantee’s death, designated as provided in Section 5.8) a certificate evidencing the outright ownership
of such vested shares free of any and all restrictions imposed under this Agreement, or provide book-entry uncertificated shares
designated for the Grantee (or, in the case of Grantee’s death after such events, provide book-entry uncertificated shares
designated for Grantee's legal representative, beneficiary or heir) on the records of the Company’s transfer agent free of
the legend or restriction regarding transferability, as the case may be.

 

2.5         Vesting.
Grantee shall vest in the Restricted Stock on the earliest of (a) the Vesting Date, as defined in Section 1.5, provided the
Grantee has not incurred a Termination of Employment prior to that date, (b) the Grantee’s Retirement, or (c) the Grantee’s
death. For purposes of this Agreement, “Retirement” shall mean the Grantee’s Termination of Employment after
the Grantee attains age sixty-five (65) for any reason other than for “Cause.”

 

For purposes of these provisions, a Termination
of Employment for “Cause” shall mean a good faith determination by the Board of Directors of the Company (after providing
the Grantee with reasonable notice and an reasonable opportunity to be heard in person on the matter) that any of the following
has occurred::

 

(i)          Grantee’s
failure to substantially perform Grantee’s duties with the Company (other than as a result of disability) or to comply with
the directions of the Board of Directors of the Company or a subsidiary, after a demand for substantial performance is delivered
to Grantee by the Company that specifically identifies the manner in which Grantee has not substantially performed Grantee’s
duties or complied with the directions of the Board of Directors and Grantee’s failure to cure within fifteen (15) days following
such notice, unless additional time to cure is required as determined by the Board of Directors of the Company;

 

(ii)         Grantee’s
misconduct which is materially injurious to the Company or a subsidiary, monetarily or otherwise;

 

(iii)        An
act of fraud, embezzlement, theft, or dishonesty in connection with Grantee’s duties or in the course of employment with
the Company or a subsidiary;

 

(iv)        Any
felony, or any misdemeanor involving dishonesty or moral turpitude (including pleading guilty or nolo contendere to a felony or
lesser charge which results from plea bargaining), whether or not such felony, crime or lesser offense is connected with the business
of the Company;

 

(v)         A
willful and knowing material misrepresentation to the Board of Directors of the Company; or

 

(vi)        Wrongful
disclosure of confidential information of the Company or any of its subsidiaries or affiliates.

 

2.6         Restrictions
on Transfer/Restricted Period. Shares of Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered
until the expiration of the Restricted Period. For purposes of this Agreement, the Restricted Period shall be the period beginning
on the Grant Date and ending on the date the Restricted Stock vests pursuant to the provisions of Section 2.5.

 

    	 	2	 

     

    

  

2.7         Termination/Forfeiture
of Shares. Any Award of Restricted Stock that is not vested at the time of the Grantee’s Termination of Employment for
any reason other than Retirement or death shall be forfeited in its entirety and all rights of the Grantee and obligations of the
Company hereunder shall be immediately terminated.

 

For all purposes of this
Agreement, Termination of Employment shall mean the Grantee’s separate from service with the Company and its subsidiaries.
The determination of whether a “Termination of Employment” has occurred and the effect of a leave of absence or other
leave shall be made in accordance with the provisions of Treasury Regulations Section 1.409A-l(h)(l).

 

ARTICLE
III.

CHANGE
IN CONTROL OF THE COMPANY

 

3.1         Definitions.

 

(a)          Change
in Control. For purposes of the Plan and this Agreement, Change in Control shall mean a change in the ownership or effective
control of the Company or in the ownership of a substantial portion of the assets of the Company (within the meaning of Section
409A of the Internal Revenue Code of 1986, as amended (the “Code”)) and the Treasury Regulations thereunder, as follows:

 

(i)          Change
in Ownership shall mean the acquisition by any one person, or more than one person acting as a group of ownership of stock
of the Company that, together with stock held by such person or group, constitutes more than fifty percent (50%) of the total fair
market value or total voting power of the stock of the Company. However, if any one person, or more than one person acting as a
group, is considered to own more than fifty percent (50%) of the total fair market value or total voting power of the stock of
the Company as of the grant date, the acquisition of additional stock by the same person or persons is not considered to cause
a Change in Ownership of the Company (or to cause a Change in Effective Control of the Company as defined in Section 3.1(a)(ii)).
An increase in the percentage of stock owned by any one person, or persons acting as a group, as a result of a transaction in which
the Company acquires its stock in exchange for property will be treated as an acquisition of stock for purposes of this Section
3.1(a)(i).

 

(ii)         Change
in Effective Control shall mean:

 

(A)         The
acquisition by any one person, or more than one person acting as a group, during any 12-month period of ownership of stock of the
Company possessing thirty-five percent (35%) or more of the total voting power of the stock of the Company; or

 

(B)         The
replacement of a majority of members of the Board of Directors during any 12-month period by directors whose appointment or election
is not endorsed by a majority of the members of the Board of Directors prior to the date of the appointment or election in accordance
with Treasury Regulation §1.409A-3(i)(5)(vi)(A)(2).

 

Notwithstanding the foregoing, if
any one person, or more than one person acting as a group, is considered to effectively control the Company (within the meaning
of this Section 3.1(a)(ii)) as of the grant date, the acquisition of additional control of the Company by the same person or persons
is not considered to cause a Change in Control.

 

(iii)        Change
in the Ownership of the Company's Assets shall mean the acquisition by any one person, or more than one person acting as a
group, during any 12-month period of assets from the Company that have a total gross fair market value equal to or more than forty
percent (40%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or
acquisitions. Notwithstanding the foregoing, there is no change in control event under this Section 3.1(a)(iii) when there is a
transfer to an entity that is controlled by the Shareholders or other related person, within the meaning of Treasury Regulation
§1.409A-3(i)(5)(vii)(B), immediately after the transfer.

 

(iv)        Persons
Acting as a Group. For purposes of this Section 3.1(a), persons will not be considered to be acting as a group solely because
they purchase or own stock of the same corporation at the same time, or as a result of the same public offering. However, persons
will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase
or acquisition of stock, or similar business transaction with the corporation. If a person, including an entity, owns stock in
both corporations that enter into a merger, consolidation, purchase or acquisition of stock, or similar transaction, such shareholder
is considered to be acting as a group with other shareholders in a corporation only with respect to the ownership in that corporation
prior to the transaction giving rise to the change and not with respect to the ownership interest in the other corporation.

 

    	 	3	 

     

    

  

3.2         Effect
of Change in Control. 

 

(a)          If
the Company is not the surviving corporation following a Change in Control, and the surviving corporation following such Change
in Control or the acquiring corporation (such surviving corporation or acquiring corporation is hereinafter referred to as the
“Acquiror”) does not assume the outstanding Restricted Stock Award granted hereunder or does not substitute equivalent
equity awards relating to the securities of such Acquiror or its affiliates for such Options, then the Restricted Stock Award shall
become immediately and fully vested. In addition, the Board of Directors or its designee may, in its sole discretion, provide for
a cash payment to be made to the Grantee for the outstanding Restricted Stock Award upon the consummation of the Change in Control,
determined on the basis of the fair market value that would be received in such Change in Control by the holders of the Company's
securities relating to such Restricted Stock.

 

(b)          If
the Company is the surviving corporation following a Change in Control, or the Acquiror assumes the outstanding Restricted Stock
Award granted hereunder or substitutes equivalent equity awards relating to the securities of such Acquiror or its affiliates for
such Restricted Stock Awards, then the Restricted Stock Awards or such substitutes therefor shall remain outstanding and be governed
by their respective terms and the provisions of the Plan.

 

(c)          If
(i) the Grantee incurs a Termination of Employment without Cause within twenty-four (24) months following a Change in Control,
and (ii) the Company is the surviving corporation following such Change in Control, or the Acquiror assumes the outstanding Restricted
Stock Awards granted hereunder or substitutes equivalent equity awards relating to the securities of such Acquiror or its affiliates
for such Restricted Stock Awards, then the outstanding Restricted Stock Awards shall become immediately and fully vested.

 

(d)          If
(i) the Grantee incurs a Termination of Employment with the Company and its Subsidiaries for Cause within twenty-four (24) months
following a Change in Control and (ii) the Company is the surviving corporation following such Change in Control, or the Acquiror
assumes the outstanding Restricted Stock Awards or substitutes equivalent equity awards relating to the securities of such Acquiror
or its affiliates for such Restricted Stock Awards, then the Restricted Stock Awards granted hereunder shall terminate.

 

3.3         Amendment
or Termination. This Article III shall not be amended or terminated at any time if any such amendment or termination would
adversely affect the rights of the Grantee hereunder.

 

ARTICLE
IV.

GRANTEE’S COVENANTS

 

4.1         Confidentiality.
The Grantee understands and acknowledges that (i) during the Grantee’s employment with the Company or any Affiliate thereof,
the Grantee will have access to Confidential Information of the Company and its Affiliates; (ii) such Confidential Information
and the ability of the Company and its Affiliates to reserve such Confidential Information for their respective and exclusive knowledge
and use is of great competitive importance and commercial value to the Company and its Affiliates; (iii) the Company has taken
and will continue to take actions to protect the Confidential Information; and (iv) the provisions of this Section are reasonable
and necessary to prevent the improper use or disclosure of such Confidential Information. Accordingly, the Grantee agrees that
during the term of the Grantee’s employment with the Company or any Affiliate thereof and, following the termination of such
employment, until such time as the Confidential Information becomes generally available to the public through no fault of the Grantee
or any other person under a duty of confidentiality to the Company, the Grantee will not, except as required by law or legal process,
in any capacity, use or disclose, or cause to be used or disclosed, any Confidential Information the Grantee acquired while employed
by the Company or any Affiliate thereof. For purposes of this Agreement, the term “Confidential Information” shall
include, without limitation, the identity of customers, personal customer data, strategic plans, sales data and sales strategy,
methods, products, procedures, processes, techniques, financial information, vendor and supplier lists, pricing policies, personnel
data and other confidential, business, competitive and proprietary information concerning or related to the Company and/or its
Affiliates and their respective businesses, operations, financial conditions, results of operations, competitive position and prospects.
The parties hereto agree that nothing in this Agreement shall be construed to limit or negate the law of torts or trade secrets
where it provides the Company with broader protection than that provided herein.

 

4.2         non-Solicitation
of Customers/Employees. The Grantee agrees that during Grantee’s employment by the Company or any Affiliate thereof and
for a period of two (2) year thereafter, the Grantee will not directly, or indirectly, on behalf of himself or any other person,
entity or enterprise, do any of the following:

 

    	 	4	 

     

    

  

Divert or attempt to divert
from the Company or any Affiliate thereof any business by influencing or attempting to influence or soliciting or attempting to
solicit any customers of the Company or any Affiliate thereof or any particular customer with whom the Company or any Affiliate
thereof had business contacts in the one-year period immediately preceding the Grantee’s Termination of Employment or with
whom the Grantee may have dealt at any time during the Grantee’s employment by the Company or an Affiliate thereof.

 

Without the prior written
consent of the Company, recruit, solicit, hire, attempt to hire, or assist any other person to hire any employee of the Company
or an Affiliate thereof or any person who was an employee of the Company or any Affiliate during the one (1) year period immediately
preceding the Grantee’s Termination of Employment.

 

Otherwise assist any person
in any way to do, or attempt to do, anything prohibited by the foregoing.

 

4.3         Remedies.
 Notwithstanding any other provision of this Agreement, if the Grantee breaches any provision of this Article IV, any Restricted
Shares which have not become vested shall be immediately forfeited to the Company. In addition, the Company shall be entitled to
injunctive and other equitable relief (without the necessity of showing actual monetary damages or of posting any bond or other
security): (i) restraining and enjoining any act which would constitute a breach, or (ii) compelling the performance of any obligation
which, if not performed, would constitute a breach, as well as any other remedies available to the Company, including monetary
damages. Upon the Company’s request, the Grantee shall provide reasonable assurances and evidence of compliance with the
restrictive covenants set forth in this Article IV. If any court of competent jurisdiction shall deem any provision in this Article
IV too restrictive, the other provisions shall stand, and the court shall modify the unduly restrictive provision to the point
of greatest restriction permissible by law. The restrictive covenants set forth in this Article IV shall survive the termination
of this Agreement, the forfeiture of any Restricted Shares, and the Grantee’s Termination of Employment with the Company
and all Affiliates for any reason, and the Grantee shall continue to be bound by the terms of this Article IV as if this Agreement
was still in effect.

 

ARTICLE
V.

MISCELLANEOUS
PROVISIONS

 

5.1         Adjustments
Upon Changes in Stock. In case of any reorganization, recapitalization, reclassification, stock split, stock dividend, distribution,
combination of shares, merger, consolidation, rights offering, or any other changes in the corporate structure or shares of the
Company, appropriate adjustments may be made by the Committee or the Board of Directors, as the case may be, (or if the Company
is not the surviving corporation in any such transaction, the board of directors of the surviving corporation) in the aggregate
number and kind of shares subject to the Plan, and the number and kind of shares subject to outstanding Restricted Stock Award.
Appropriate adjustments may also be made by the Committee or the Board of Directors, as the case may be, in the terms of any Awards
under the Plan, subject to the provisions of the Plan, to reflect such changes and to modify any other terms of outstanding Awards
on an equitable basis. Any such adjustments made by the Committee or the Board of Directors pursuant to this Section shall be conclusive
and binding for all purposes under the Plan.

 

5.2         Amendment,
Suspension, and Termination of Plan. 

 

(a)          The
Board of Directors may suspend or terminate the Plan or any portion thereof at any time, and, subject to limitations contained
therein and subject to shareholder approval if required, may amend the Plan from time to time in such respects as the Board of
Directors may deem advisable in order that any awards thereunder shall conform to any change in applicable laws or regulations
or in any other respect the Board of Directors may deem to be in the best interests of the Company; provided, however, that no
such amendment, suspension, or termination shall materially adversely alter or impair the Restricted Stock Award granted hereunder
without the consent of the Grantee.

 

(b)          The
Committee may amend or modify the Restricted Stock Award granted hereunder in any manner to the extent that the Committee would
have had the authority under the Plan initially to grant the Restricted Stock Award as so modified or amended.

 

(c)          Notwithstanding
the foregoing, the Plan and the Agreement may be amended without any additional consideration to the Grantee to the extent necessary
to comply with, or avoid penalties under, Section 409A of the Code, even if those amendments reduce, restrict or eliminate rights
granted prior to such amendments.

 

5.3         No
Right To Employment/Other Service. None of the actions of the Company in establishing the Plan, the actions taken by the Company,
the Board of Directors or the Committee under the Plan, or the granting of the Restricted Stock Award pursuant to this Agreement
shall be deemed (a) to create any obligation on the part of the Company or any Affiliate or on the Board of Directors of the Company
or such Affiliate to retain the Grantee as an employee, consultant or other service provider or to nominate Grantee for election
to the Board of Directors, or (b) to be evidence of any agreement or understanding, express or implied, that the person has a right
to continue as an employee, consultant, other service provider, or non-employee director for any period of time or at any particular
rate of compensation.

 

5.4         Plan
and Grant Document Control. The grant of the Restricted Stock Award hereunder is governed and controlled by the terms of the
Plan and this Award Agreement. All the provisions of the Plan, as such may be amended from time to time, are hereby incorporated
into this Agreement by this reference. All capitalized terms utilized in this Agreement shall have the same meaning as in the Plan,
except as otherwise specifically provided herein.

 

    	 	5	 

     

    

  

5.5         Governing
Law. All matters relating to the Plan or to awards granted under the Plan pursuant to this Agreement shall be governed by and
construed in accordance with the laws of the State of Mississippi without regard to the principles of conflict of laws.

 

5.6         Trust
Arrangement. All benefits under the Plan represent an unsecured promise to pay by the Company. The Plan shall be unfunded and
the benefits hereunder shall be paid only from the general assets of the Company resulting in the Grantee having no greater rights
than the Company's general creditors; provided, however, nothing herein shall prevent or prohibit the Company from establishing
a trust or other arrangement for the purpose of providing for the payment of the benefits payable under the Plan.

 

5.7         No
Impact on Benefits. The Restricted Stock Award granted hereunder is not compensation for purposes of calculating the Grantee’s
rights under any employee benefit plan of the Company or any Affiliate that does not specifically require the inclusion of Awards
in calculating benefits.

 

5.8         Beneficiary
Designation. The Grantee may name a beneficiary or beneficiaries to receive any vested portion of the Award that is unpaid
at the Grantee’s death. Unless otherwise provided in the beneficiary designation, each designation will revoke all prior
designations made by the Grantee, must be made on a form prescribed by the Committee and will be effective only when filed in writing
with the Committee. If the Grantee has not made an effective beneficiary designation, the deceased Grantee’s beneficiary
will be the Grantee’s surviving spouse or, if none, the deceased Grantee’s estate. The identity of a Grantee’s
designated beneficiary will be based only on the information included in the latest beneficiary designation form completed by the
Grantee and will not be inferred from any other evidence.

 

5.9         Taxes.

 

(a)          Withholding.
The Company shall have the power and the right to deduct or withhold, or require the Grantee to remit to the Company, the minimum
statutory amount to satisfy federal, state and local taxes required by law or regulation to be withheld with respect to any taxable
event arising as a result of the Restricted Stock Award granted hereunder. With respect to withholding required upon any taxable
event arising as a result of the Restricted Stock Award granted hereunder, the Grantee may elect to satisfy the withholding requirement,
in whole or in part, by having the Company withhold shares of Stock of the Company having a Fair Market Value on the date the tax
is to be determined equal to the minimum statutory total tax that could be imposed on the transaction. All such elections shall
be irrevocable, made in writing and signed by the Grantee, and shall be subject to any restrictions or limitations that the Committee,
in its sole discretion, deems appropriate. All such elections shall be made and filed with the Committee in the manner determined
by the Committee on or before the Vesting Date, or such earlier date as shall be determined by the Committee. If an election has
not been made by the Grantee, or the amount of the taxes required to be withheld has not been remitted by the Grantee to the Company
on or before the Vesting Date, the Company shall withhold shares of Stock of the Company having a Fair Market Value equal to the
tax required to be withheld from the Restricted Stock vesting pursuant to this Award on such date.

 

(b)          Section
83(b) Election. The Grantee may elect to accelerate any Federal tax payment due as a result of receiving an Award of Restricted
Stock by making a timely election pursuant to Section 83(b) of the Code, and complying with the procedures outlined therein.

 

5.10       Gender
and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine,
the plural shall include the singular, and the singular shall include the plural.

 

5.11       Severability.
In the event any provision of the Plan or this Agreement shall be held illegal or invalid for any reason, the illegality or invalidity
shall not affect the remaining parts of the Plan or this Agreement, and the Plan or this Agreement shall be construed and enforced
as if the illegal or invalid provision had not been included.

 

5.12       Clawback
Provision. This Award along with all other Awards received by the Grantee (including any proceeds, gains or other economic
benefit actually or constructively received by the Grantee upon any receipt or exercise of any Award) shall be subject to the provisions
of the Company’s clawback policy including any amendments of such clawback policy adopted to comply with the requirements
of the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated thereunder.

 

    	 	6	 

     

    

  

IN WITNESS WHEREOF, the parties hereto
have caused this Stock Incentive Agreement to be executed effective as of the date first noted above.

 

	THE FIRST BANCSHARES, INC.	 	GRANTEE:
	 	 	 
	By:	                    	 	 
	 	 	 
	 	 	 
	(Insert Name)	 	Grantee Name
	 	 	 
	 	 	 
	(Insert Title)	 	Address
	 	 	 
	 	 	 
	 	 	City, State, Zip Code

 

    	 	7

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