SEC Contract Filing

Filing Date: 2022-12-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>myfw-20221205xex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.14.0.96--><!--Created on: 12/6/2022 06:00:00 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;min-height:36pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Exhibit 10.1</b></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><a name="_Hlk119661451"></a>FORM OF SUBORDINATED NOTE PURCHASE AGREEMENT</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">This SUBORDINATED NOTE PURCHASE AGREEMENT (this &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Agreement</u>&#8221;) is dated as of December 5, 2022 and is made by and among First Western Financial, Inc., a Colorado corporation (the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Company</u>&#8221;), and each purchaser of the Subordinated Notes (as defined herein) identified on the signature page hereto (each a &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Purchaser</u>&#8221; and collectively, the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Purchasers</u>&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">RECITALS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">WHEREAS</b>, the Company has requested that the Purchasers purchase from the Company up to $20,000,000 in aggregate principal amount of Subordinated Notes, which aggregate amount is intended to qualify as Tier 2 Capital (as defined herein);</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">WHEREAS</b><font style="font-size:12pt;">,</font><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:12pt;">the Company has engaged </font>Keefe, Bruyette&#160;&amp; Woods, Inc.<font style="font-size:12pt;"> as its exclusive placement agent (&#8220;</font><u style="font-size:12pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Placement Agent</u><font style="font-size:12pt;">&#8221;) for the offering of the Subordinated Notes;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">WHEREAS</b>, each of the Purchasers is an institutional &#8220;accredited investor&#8221; as such term is defined in Rule 501(a)(1)-(3) and (7) of Regulation D (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Regulation D</u>&#8221;) promulgated under the Securities Act of 1933, as amended (the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Securities Act</u>&#8221;), or a QIB (as defined below);</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">WHEREAS</b>,<b style="font-weight:bold;"> </b>the offer and sale of the Subordinated Notes by the Company is being made in reliance upon the exemptions from registration available under Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D; and</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">WHEREAS</b>,<b style="font-weight:bold;"> </b>each Purchaser is willing to purchase from the Company a Subordinated Note in the principal amount set forth on such Purchaser&#8217;s respective signature page hereto (the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Subordinated Note Amount</u>&#8221;) in accordance with the terms, subject to the conditions and in reliance on, the recitals, representations, warranties, covenants and agreements set forth herein and in the Subordinated Notes.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">NOW</b>,<b style="font-weight:bold;"> THEREFORE</b>, in consideration of the mutual covenants, conditions and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">AGREEMENT</b></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:0pt;"><font sty