EX-10.1
from 8-K
9 pages
Each of the Entities Identified on Schedule 1 Hereto (Each, a “Seller” and Collectively, the “Sellers”) Is the Owner of the Number of Shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series B, Without Par Value (The “Series B Preferred Stock”) (Cusip 502100308) of Lnb Bancorp, Inc., an Ohio Corporation (The “Company”), Set Forth Opposite Such Seller’s Name on Schedule 1. the Shares of Series B Preferred Stock Covered by This Agreement Are Referred to Collectively Herein as the “Preferred Shares.” Each Seller and the Company Desire That the Seller Exchange Its Preferred Shares for Common Shares (As Defined Below) and Cash on the Terms Set Forth Herein. Subject to the Terms and Conditions Set Forth Herein, the Exchange of the Preferred Shares for Common Shares and Cash Shall Take Place on the Delivery Date (As Defined Below). 1. Representations and Warranties of the Company. the Company Represents to and Agrees With Each Seller That
12/34/56
