Stock Sale and Purchase Agreement

STOCK SALE AND PURCHASE AGREEMENT
This STOCK SALE AND PURCHASE AGREEMENT (this “Agreement”) is made by
and between ___________________________ (the “Seller”) and
____________________________ (the “Buyer”). The Seller and the Buyer are also referred to
herein individually as a “Party” and collectively as the “Parties.”
W I T N E S S E T H:
WHEREAS, the Seller owns _________________ shares of common stock (the
“Shares”) of HCSB Financial Corporation (the “Company”), and desires to sell the Shares to the
Buyer; and
WHEREAS, the Seller has agreed to sell and the Buyer has agreed to buy the Shares, and
the Parties desire to set forth the terms and conditions governing the purchase and sale of the
Shares.
NOW, THEREFORE, for and in consideration of the premises, the mutual agreements
and covenants herein contained, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:
1. Agreement to Sell and Purchase the Shares. In consideration of, and in express
reliance upon, the representations and warranties of the Seller and the Buyer in this Agreement,
the Seller hereby agrees to irrevocably transfer and convey the Shares to the Buyer, and the Buyer
hereby agrees to pay the aggregate purchase price of $_________________, or $_______ per
share, for the Shares at the Closing (as defined below).
2. Closing. The closing of the purchase and sale of the Shares under this
Agreement shall occur simultaneously with the execution of this Agreement by the Parties.
Simultaneously herewith, the Buyer has delivered payment of the purchase price listed above and
the Seller has surrendered to the Company's transfer agent (the “Transfer Agent”) the certificate
representing the Shares, and has directed the Transfer Agent to issue a new certificate
representing the Shares to be registered in the name of the Buyer.
3. Representations and Warranties of Seller. The Seller represents and warrants to
the Buyer as follows:
(a) The Seller has good, valid and marketable title to the Shares free and
clear of all mortgages, liens, pledges, security interests, charges, claims and other encumbrances
and defects of title of any nature whatsoever.
(b) No person has any right or other claim against Seller for any
commission, fee or other compensation as a finder or broker in connection with the transaction
contemplated by this Agreement.
4. Representations and Warranties of Buyer. The Buyer represents and warrants to
the Seller as follows:
(a) No person has any right or other claim against the Buyer for any
commission, fee or other compensation as a finder or broker in connection with the transaction
contemplated by this Agreement.
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