<SEC-DOCUMENT>0001144204-19-002911.txt : 20190125
<SEC-HEADER>0001144204-19-002911.hdr.sgml : 20190125
<ACCEPTANCE-DATETIME>20190125170113
ACCESSION NUMBER:		0001144204-19-002911
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20190121
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190125
DATE AS OF CHANGE:		20190125

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMMUNITY BANK SYSTEM, INC.
		CENTRAL INDEX KEY:			0000723188
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				161213679
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13695
		FILM NUMBER:		19543156

	BUSINESS ADDRESS:	
		STREET 1:		5790 WIDEWATERS PKWY
		CITY:			DEWITT
		STATE:			NY
		ZIP:			13214
		BUSINESS PHONE:		8007242262

	MAIL ADDRESS:	
		STREET 1:		5790 WIDEWATERS PARKWAY
		CITY:			DEWITT
		STATE:			NY
		ZIP:			13214

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMMUNITY BANK NA, a subsidiary of Community Bank System Inc
		DATE OF NAME CHANGE:	20130729

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMMUNITY BANK NA, a subsidiary of Community Bank System Inc.
		DATE OF NAME CHANGE:	20130726

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMMUNITY BANK SYSTEM INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tv511631_8k.htm
<DESCRIPTION>8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>WASHINGTON,
D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>FORM 8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
<B>January 21, 2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="tv511631_img1.jpg" ALT=""><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 33%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>001-13695</B></FONT></TD>
    <TD STYLE="width: 33%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>16-1213679</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other
    jurisdiction of<BR>
incorporation)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(IRS Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>5790 Widewaters Parkway, DeWitt, New York</B></FONT></TD>
    <TD STYLE="width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13214</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Registrant&rsquo;s telephone number, including area code: <B>(315)
445-2282</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Not Applicable</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 310.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging
growth company </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act.&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 8.01</B></TD><TD><B>Other Events</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On January 21, 2019, Community Bank
System, Inc. (&ldquo;Community Bank System&rdquo;) entered into an Agreement and Plan of Merger (the &ldquo;Merger
Agreement&rdquo;) with Kinderhook Bank Corp. (&ldquo;Kinderhook&rdquo;), a bank holding company based in Kinderhook, New York
and the parent of The National Union Bank of Kinderhook (&ldquo;Kinderhook Bank&rdquo;), and VB Merger Sub Inc., a newly
formed New York corporation and wholly-owned subsidiary of Community Bank System (&ldquo;Merger Sub&rdquo;). The Merger
Agreement, which was unanimously approved by the boards of directors of both Community Bank System and  Kinderhook, provides
for Community Bank System&rsquo;s acquisition of Kinderhook through a merger of Merger Sub with and into Kinderhook.
Following the merger, Kinderhook Bank will be merged into Community Bank, N.A., Community Bank System&rsquo;s wholly-owned
banking subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The transaction will provide natural market
extension for both institutions, joining two high-quality banks with long histories of customer service, as well as commitment
to their communities. Kinderhook Bank will add to Community Bank, N.A.&rsquo;s presence in the Capital District of Upstate New
York with total assets of nearly $640 million, deposits of $560 million, and 11 banking offices across a five county area.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under to the terms of the Merger Agreement,
stockholders of Kinderhook will receive consideration per share of common stock equal to $62.00 in cash. Subject to the approval
of Kinderhook&rsquo;s stockholders, regulatory approvals, and other closing conditions, as described below, the parties anticipate
completing the transaction in the second quarter of 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Merger Agreement contains customary
representations and warranties from both Kinderhook and Community Bank System, and each party has agreed to customary covenants,
including, among others, covenants relating to the conduct of Kinderhook&rsquo;s business during the interim period between the
execution of the Merger Agreement and the effective time of the merger, and Kinderhook&rsquo;s non-solicitation obligations relating
to alternative acquisition proposals and its obligation to recommend that its stockholders approve the Merger Agreement, subject
to customary exceptions in the event of an unsolicited acquisition proposal that constitutes a &ldquo;superior proposal&rdquo;
or the occurrence of an &ldquo;intervening event,&rdquo; in each case as defined in the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The completion of the merger
is subject to customary conditions, including, among others, (1) the approval of the Merger Agreement by the holders of at
least two thirds of the outstanding shares of Kinderhook common stock, (2) the absence of any order, injunction or other
legal restraint preventing the completion of the merger or making the consummation of the Merger illegal, and (3) the receipt
of required regulatory approvals, including the approval of the Office of the Comptroller of the Currency and the
Federal Reserve Board. Each party&rsquo;s obligation to complete the merger is also subject to certain additional
customary conditions, including, among others, (i) subject to certain exceptions, the accuracy of the representations and
warranties of the other party, and (ii) performance in all material respects by the other party of its obligations under the
Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Merger Agreement provides for certain
termination rights for both Community Bank System and Kinderhook, and further provides that upon a termination of the Merger Agreement
under certain circumstances relating to a third-party takeover proposal, Kinderhook will be obligated to pay Community Bank System
a termination fee of $3,700,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each of Kinderhook&rsquo;s director
and executive officers,  in their individual capacities as stockholders of Kinderhook, have entered into a Shareholder Support
Agreement pursuant to which they have each agreed to vote their shares in favor of the approval of the Merger Agreement at
the shareholders&rsquo; meeting to be held to vote on the proposed transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing summary of the Merger Agreement
is not complete and is qualified in its entirety by reference to the Merger Agreement which is filed as Exhibit 2.1 hereto and
incorporated herein by reference in its entirety.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><U>Additional Information About the Merger</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with the proposed merger,
Kinderhook Bank Corp. will deliver a Proxy Statement, as well as other relevant documents concerning the proposed transaction.
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation
of any vote or approval. <B>Stockholders of Kinderhook Bank Corp. are urged to read the proxy statement and the other relevant
materials when they are delivered because they will contain important information about the proposed transaction.</B> Information
regarding Kinderhook Bank Corp. may be obtained at www.nubk.com or by directing a request to Kinderhook Bank Corp., 1 Hudson Street,
Kinderhook, New York 12106, Attention: Investor Relations, Telephone: (518) 758-7101.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Information regarding Community Bank System,
Inc., may be obtained at the SEC&rsquo;s Internet site (http://www.sec.gov) or you may obtain copies of certain documents, free
of charge from Community Bank System, Inc. by accessing its website at www.communitybankna.com under the heading of &ldquo;Investor
Relations&rdquo; and then &ldquo;SEC Filings &amp; Annual Report.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Kinderhook Bank Corp. and Community Bank
System, Inc. and certain of their respective directors and executive officers may be deemed to participate in the solicitation
of proxies from the stockholders of Kinderhook Bank Corp. in connection with the proposed merger. Information about the directors
and executive officers of Kinderhook Bank Corp. and their ownership of Kinderhook Bank Corp. common stock will be set forth in
the proxy statement to be delivered for the proposed merger. Information about the directors and executive officers of Community
Bank System, Inc. and their ownership of Community Bank System, Inc. common stock is set forth in the proxy statement for its 2018
annual meeting of shareholders, as filed with the SEC on Schedule 14A on March 29, 2018. Additional information regarding the interests
of those participants and other persons who may be deemed participants in the transaction may be obtained by reading the proxy
statement regarding the proposed merger when it becomes available. Free copies of this document when available may be obtained
as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><U>Forward Looking Statements</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>This report contains forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified
by the use of the words &ldquo;will,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;estimate,&rdquo;
&ldquo;target,&rdquo; and words of similar import. Forward-looking statements are not historical facts but instead express only
management&rsquo;s current beliefs regarding future results or events, many of which, by their nature, are inherently uncertain
and outside of management&rsquo;s control. The following factors, among others listed in Community Bank System&rsquo;s Form 10-K
filings, could cause the actual results of Community Bank System&rsquo;s operations to differ materially from its expectations:
failure to obtain the approval of the stockholders of Kinderhook Bank Corp. in connection with the merger; the timing to consummate
the proposed merger; the risk that a condition to closing of the proposed merger may not be satisfied; the risk that a regulatory
approval that may be required for the proposed merger is not obtained or is obtained subject to conditions that are not anticipated;
the parties&rsquo; ability to achieve the synergies and value creation contemplated by the proposed merger; the parties&rsquo;
ability to successfully integrate operations in the proposed merger; the effect of the announcement of the proposed merger on the
ability of Kinderhook Bank Corp. to maintain relationships with its key partners, customers and employees, and on its operating
results and business generally; competition; changes in economic conditions, interest rates and financial markets; the impact of
the federal government shutdown; and changes in legislation or regulatory requirements. Community Bank System does not assume any
duty to update forward-looking statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.01</B></TD><TD><B>Financial Statements and Exhibits</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>(d)</B></TD><TD STYLE="text-align: justify"><B>Exhibits</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><A HREF="tv511631_ex2-1.htm" STYLE="-sec-extract: exhibit">2.1</A></TD><TD STYLE="text-align: left"><A HREF="tv511631_ex2-1.htm" STYLE="-sec-extract: exhibit">Agreement and Plan of Merger, dated as of January 21, 2019,
by and among Community Bank System, Inc., VB Merger Sub Inc., and Kinderhook Bank Corp.</A></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Community Bank System, Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ George J. Getman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;George J. Getman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;EVP and General Counsel</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: January 25, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit Index</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
    Number</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 2%; padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="vertical-align: bottom; width: 83%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tv511631_ex2-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="tv511631_ex2-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agreement and Plan of Merger, dated as of January 21, 2019, by and among Community Bank System, Inc., VB Merger Sub Inc., and Kinderhook Bank Corp.</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>tv511631_ex2-1.htm
<DESCRIPTION>EXHIBIT 2.1
<TEXT>
<HTML>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Exhibit 2.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">AGREEMENT AND PLAN OF MERGER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">BY AND AMONG</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">COMMUNITY BANK SYSTEM, INC.,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">VB MERGER SUB INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">KINDERHOOK BANK CORP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Dated as of January&nbsp;21, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">TABLE OF CONTENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 82%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 6%; border-bottom: Black 1pt solid; text-align: center"><B>Page</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Article 1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Transactions and Terms of Merger</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 1.1</TD>
    <TD STYLE="vertical-align: top">Merger</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 1.2</TD>
    <TD STYLE="vertical-align: top">Bank Merger</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 1.3</TD>
    <TD STYLE="vertical-align: top">Closing</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 1.4</TD>
    <TD STYLE="vertical-align: top">Effective Time</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 1.5</TD>
    <TD STYLE="vertical-align: top">Effects of the Merger</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 1.6</TD>
    <TD STYLE="vertical-align: top">Name and Organizational Documents of Surviving Corporation; Directors and Officers</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 1.7</TD>
    <TD STYLE="vertical-align: top">Structure Change</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Article 2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Treatment of Securities</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 2.1</TD>
    <TD STYLE="vertical-align: top">Treatment of Kinderhook Stock</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 2.2</TD>
    <TD STYLE="vertical-align: top">Payment for Securities; Surrender of Kinderhook Certificates</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 2.3</TD>
    <TD STYLE="vertical-align: top">Dissenters&rsquo; Rights</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 2.4</TD>
    <TD STYLE="vertical-align: top">Treatment of Kinderhook Equity Awards</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">8</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 2.5</TD>
    <TD STYLE="vertical-align: top">Withholding</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">8</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 2.6</TD>
    <TD STYLE="vertical-align: top">Kinderhook Warrants</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Article 3</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Representations and Warranties</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 3.1</TD>
    <TD STYLE="vertical-align: top">Disclosure Letters</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 3.2</TD>
    <TD STYLE="vertical-align: top">Representations and Warranties of Kinderhook</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 3.3</TD>
    <TD STYLE="vertical-align: top">Representations and Warranties of Community and Merger Sub</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">32</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Article 4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Covenants and Additional Agreements of the Parties</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 4.1</TD>
    <TD STYLE="vertical-align: top">Conduct of Business Prior to Effective Time</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">38</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 4.2</TD>
    <TD STYLE="vertical-align: top">Forbearances</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">38</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 4.3</TD>
    <TD STYLE="vertical-align: top">Litigation</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">42</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 4.4</TD>
    <TD STYLE="vertical-align: top">State Filings</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">42</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 4.5</TD>
    <TD STYLE="vertical-align: top">Preparation of the Proxy Statement; Kinderhook Shareholder Approval</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">42</TD></TR>
</TABLE>
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    <TD STYLE="vertical-align: top; width: 12%">Section 4.6</TD>
    <TD STYLE="vertical-align: top; width: 82%">Reasonable Best Efforts</TD>
    <TD STYLE="vertical-align: bottom; width: 6%; text-align: right">44</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 4.7</TD>
    <TD STYLE="vertical-align: top">Applications and Consents</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">45</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 4.8</TD>
    <TD STYLE="vertical-align: top">Notification of Certain Matters</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">46</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 4.9</TD>
    <TD STYLE="vertical-align: top">Investigation and Confidentiality</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">46</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 4.10</TD>
    <TD STYLE="vertical-align: top">Press Releases; Publicity</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">47</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 4.11</TD>
    <TD STYLE="vertical-align: top">Acquisition Proposals</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">47</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 4.12</TD>
    <TD STYLE="vertical-align: top">Takeover Laws</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">49</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 4.13</TD>
    <TD STYLE="vertical-align: top">Employee Matters</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">49</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 4.14</TD>
    <TD STYLE="vertical-align: top">Certain Policies</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">51</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 4.15</TD>
    <TD STYLE="vertical-align: top">Indemnification</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">52</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 4.16</TD>
    <TD STYLE="vertical-align: top">Kinderhook Debt</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">53</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 4.17</TD>
    <TD STYLE="vertical-align: top">Systems Integration; Operating Functions</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">53</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 4.18</TD>
    <TD STYLE="vertical-align: top">Merger Sub Compliance</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">54</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Article 5</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Conditions Precedent to Obligations to Consummate</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 5.1</TD>
    <TD STYLE="vertical-align: top">Conditions to Obligations of Each Party</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">54</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 5.2</TD>
    <TD STYLE="vertical-align: top">Conditions to Obligations of Community and Merger Sub</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">54</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 5.3</TD>
    <TD STYLE="vertical-align: top">Conditions to Obligations of Kinderhook</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">55</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Article 6</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Termination</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 6.1</TD>
    <TD STYLE="vertical-align: top">Termination</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">56</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 6.2</TD>
    <TD STYLE="vertical-align: top">Termination Fee</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">58</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 6.3</TD>
    <TD STYLE="vertical-align: top">Effect of Termination</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">58</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Article 7</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="text-transform: uppercase">Miscellaneous</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 7.1</TD>
    <TD STYLE="vertical-align: top">Definitions</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">59</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 7.2</TD>
    <TD STYLE="vertical-align: top">Non-Survival of Representations and Covenants</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">67</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 7.3</TD>
    <TD STYLE="vertical-align: top">Expenses</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">67</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 7.4</TD>
    <TD STYLE="vertical-align: top">Entire Agreement</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">68</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 7.5</TD>
    <TD STYLE="vertical-align: top">Amendments</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">68</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 7.6</TD>
    <TD STYLE="vertical-align: top">Waivers</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">68</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 7.7</TD>
    <TD STYLE="vertical-align: top">Assignment</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">68</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 7.8</TD>
    <TD STYLE="vertical-align: top">Notices</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">69</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 7.9</TD>
    <TD STYLE="vertical-align: top">Governing Law; Jurisdiction</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">69</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 7.10</TD>
    <TD STYLE="vertical-align: top">Counterparts</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">70</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">Section 7.11</TD>
    <TD STYLE="vertical-align: top">Captions</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">70</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Section 7.12</TD>
    <TD STYLE="vertical-align: top">Interpretations</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">70</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.25in; text-indent: -1.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 12%">Section 7.13</TD>
    <TD STYLE="width: 82%">Severability</TD>
    <TD STYLE="width: 6%; text-align: right">70</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 7.14</TD>
    <TD>Waiver of Jury Trial</TD>
    <TD STYLE="text-align: right">71</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 7.15</TD>
    <TD>Specific Performance</TD>
    <TD STYLE="text-align: right">71</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">EXHIBITS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">Exhibit A</TD>
    <TD STYLE="width: 90%">Form of Bank Merger Agreement</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Exhibit B</TD>
    <TD>Shareholder Support Agreement Signatories</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Exhibit C</TD>
    <TD>Form of Shareholder Support Agreement</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>AGREEMENT AND PLAN OF MERGER</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><B>THIS AGREEMENT AND PLAN
OF MERGER</B> (this &ldquo;<U>Agreement</U>&rdquo;) is made and entered into as of January 21, 2019, by and among <B>Community
Bank System, Inc.</B>, a Delaware corporation (&ldquo;<U>Community</U>&rdquo;), <B>VB Merger Sub Inc.</B>, a New York corporation
(&ldquo;<U>Merger Sub</U>&rdquo;), and <B>Kinderhook Bank Corp.</B>, a New York corporation (&ldquo;<U>Kinderhook</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">WHEREAS, Community is a bank
holding company, the sole banking Subsidiary of which is Community Bank, N.A., a national banking association (&ldquo;<U>Community
Bank</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">WHEREAS, Kinderhook is a
bank holding company, the sole banking Subsidiary of which is The National Union Bank of Kinderhook, a national banking association
(&ldquo;<U>Kinderhook Bank</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">WHEREAS, the Boards of Directors
of Community, Merger Sub and Kinderhook have approved this Agreement and the transactions described herein in accordance with the
General Corporation Law of the State of Delaware and the Business Corporation Law of the State of New York (the &ldquo;<U>NYBCL</U>&rdquo;)
and have declared the same advisable and in the best interests of Community, Merger Sub and Kinderhook, respectively, and their
respective stockholders;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">WHEREAS, this Agreement provides
for the acquisition of Kinderhook by Community pursuant to the merger of Merger Sub with and into Kinderhook (the &ldquo;<U>Merger</U>&rdquo;)
with Kinderhook surviving the Merger as a wholly-owned Subsidiary of Community. Following the Merger, Kinderhook Bank shall merge
with and into Community Bank (the &ldquo;<U>Bank Merger</U>&rdquo;) with Community Bank surviving the Bank Merger, pursuant to
the terms of the Plan of Merger and Merger Agreement between Community Bank and Kinderhook Bank attached hereto as <U>Exhibit&nbsp;A</U>
(the &ldquo;<U>Bank Merger Agreement</U>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">WHEREAS, concurrently with
the execution and delivery of this Agreement, as a condition and inducement to Community&rsquo;s and Merger Sub&rsquo;s willingness
to enter into this Agreement, each of the individuals listed on <U>Exhibit&nbsp;B</U> attached hereto who holds shares of Kinderhook
Common Stock has executed and delivered to Community an agreement in substantially the form of <U>Exhibit&nbsp;C</U> attached hereto
(each a &ldquo;<U>Shareholder Support Agreement</U>&rdquo;), pursuant to which they have agreed, among other things, subject to
the terms of such Shareholder Support Agreement, to vote the shares of Kinderhook Common Stock held of record by such Persons or
as to which they otherwise have beneficial ownership to adopt this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><B>NOW, THEREFORE</B>, in
consideration of the above and the mutual warranties, representations, covenants, and agreements set forth herein, and for other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound
hereby, the Parties agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Article&nbsp;1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Transactions
and Terms of Merger</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Merger</U></FONT>.
Subject to the terms and conditions of this Agreement and in accordance with the NYBCL, at the Effective Time (as defined in <U>Section&nbsp;1.4</U>
herein), Merger Sub shall be merged with and into Kinderhook. Kinderhook shall be the surviving corporation (the &ldquo;<U>Surviving
Corporation</U>&rdquo;) resulting from the Merger and the separate corporate existence of Merger Sub shall thereupon cease. Kinderhook
shall continue to be governed by the Laws of the State of New York, and the separate corporate existence of Kinderhook with all
of its rights, privileges, immunities, powers and franchises shall continue unaffected by the Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Bank
Merger</U></FONT>. Prior to the Effective Time, Community and Kinderhook shall cause the Boards of Directors of Community Bank
and Kinderhook Bank, respectively, to execute the Bank Merger Agreement. Subject to the terms and conditions of this Agreement
and the Bank Merger Agreement, Kinderhook Bank shall be merged with and into Community Bank in accordance with the provisions of
12 U.S.C. Sections&nbsp;215a and 1828(c). Community Bank shall be the surviving bank resulting from the Bank Merger and the separate
existence of Kinderhook Bank shall thereupon cease. Community Bank shall continue to be governed by the Laws of the United States,
and the separate existence of Community Bank with all of its rights, privileges, immunities, powers and franchises shall continue
unaffected by the Bank Merger. Subject to the satisfaction of the conditions to closing set forth in the Bank Merger Agreement,
the Bank Merger shall occur following the Merger unless otherwise determined by Community in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Closing</U></FONT>.
Subject to the terms and conditions of this Agreement, the closing of the Merger (the &ldquo;<U>Closing</U>&rdquo;) shall take
place at 10:00&nbsp;a.m., New York City time, at the offices of Cadwalader, Wickersham &amp; Taft LLP, 200 Liberty Street, New
York, New York 10281, or by the electronic transmission of signature pages, as soon as practicable and in any event no later than
thirty (30) days after the satisfaction or waiver (subject to applicable Law) of the latest to occur of the conditions set forth
in <U>Article&nbsp;5</U> hereof (other than those conditions that by their nature can only be satisfied at the Closing, but subject
to the satisfaction or waiver thereof), unless another date, time or place is agreed to in writing by Community and Kinderhook
(the date on which the Closing occurs, the &ldquo;<U>Closing Date</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Effective
Time</U></FONT>. The Merger shall become effective as set forth in the certificate of merger (the &ldquo;<U>Certificate of Merger</U>&rdquo;)
to be filed with the Secretary of State of the State of New York (the &ldquo;<U>New York Secretary</U>&rdquo;) on the Closing Date.
The term &ldquo;<U>Effective Time</U>&rdquo; shall be the date and time when the Merger becomes effective, as set forth in the
Certificate of Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Effects
of the Merger</U></FONT>. At and after the Effective Time, the Merger shall have the effects set forth in the applicable provisions
of the NYBCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Name
and Organizational Documents of Surviving Corporation; Directors and Officers</U></FONT>. (a)&nbsp;&nbsp;At the Effective Time,
the certificate of incorporation of Kinderhook shall be amended and restated so that the certificate of incorporation of Merger
Sub immediately prior to the Effective Time shall be the certificate of incorporation of the Surviving Corporation (except that
the name of Kinderhook shall be substituted for the name of Merger Sub)&nbsp;until thereafter amended in accordance with their
terms and as provided by applicable Law. The Parties shall take all actions necessary so that the bylaws of Merger Sub in effect
immediately prior to the Effective Time shall be the bylaws of the Surviving Corporation until thereafter amended in accordance
with their terms and as provided by applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
directors of Merger Sub immediately prior to the Effective Time shall be the directors of the Surviving Corporation as of the Effective
Time. The officers of Merger Sub immediately prior to the Effective Time shall be the officers of the Surviving Corporation as
of the Effective Time, until the earlier of their resignation or removal or otherwise ceasing to be an officer or until their respective
successors are duly elected and qualified, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;1.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Structure
Change</U></FONT>. Community may at any time change the method of effecting the Merger and the Bank Merger if and to the extent
requested by Community, and Kinderhook agrees to enter into such amendments to this Agreement as Community may reasonably request
in order to give effect to such restructuring; <U>provided</U>, <U>however</U>, that no such change or amendment shall (a)&nbsp;alter
or change the amount or kind of the Merger Consideration provided for in this Agreement, (b)&nbsp;adversely affect the Tax treatment
of the Merger with respect to Kinderhook&rsquo;s shareholders or (c)&nbsp;be reasonably likely to cause the Closing to be prevented
or materially delayed or the receipt of the Requisite Regulatory Approvals to be prevented or materially delayed.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Article&nbsp;2</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Treatment
of Securities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Treatment
of </U></FONT><U>Kinderhook <FONT STYLE="font-family: Times New Roman, Times, Serif">Stock</FONT></U>. (a)&nbsp;&nbsp;<U>Treatment
of Kinderhook Common Stock</U>. At the Effective Time, by virtue of the Merger and without any action on the part of the Parties
or holders of any securities of Kinderhook, subject to <U>Section&nbsp;2.1(e)</U> and any applicable withholding Tax, each share
of Kinderhook Common Stock issued and outstanding immediately prior to the Effective Time (other than Kinderhook Common Shares
to be cancelled in accordance with <U>Section&nbsp;2.1(d)</U> and other than any Proposed Dissenting Shares) shall be automatically
converted into the right to receive $62.00 in cash (the &ldquo;<U>Merger Consideration</U>&rdquo;), without interest. From and
after the Effective Time, all such Kinderhook Common Shares shall no longer be outstanding and shall automatically be cancelled
and shall cease to exist, and each applicable holder of such Kinderhook Common Shares shall cease to have any rights with respect
thereto, except the right to receive the Merger Consideration therefor, without interest, upon the surrender of such Kinderhook
Common Shares in accordance with <U>Section&nbsp;2.2(b)</U> or in accordance with <U>Section&nbsp;2.4</U>, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Treatment
of Kinderhook Series&nbsp;A Convertible Preferred Stock</U>. At the Effective Time, by virtue of the Merger and without any action
on the part of the Parties or holders of any securities of Kinderhook, subject to <U>Section&nbsp;2.1(e)</U> and any applicable
withholding Tax, each share of Kinderhook Series&nbsp;A Convertible Preferred Stock, par value $25.00 per share (the &ldquo;<U>Series&nbsp;A
Convertible Preferred Stock</U>&rdquo;), issued and outstanding immediately prior to the Effective Time (other than any such shares
to be cancelled in accordance with <U>Section&nbsp;2.1(d)</U>) shall be automatically converted into the right to receive an amount
in cash equal to the greater of (i)&nbsp;the Applicable Redemption Price per Share with respect to the Series&nbsp;A Convertible
Preferred Stock or (ii)&nbsp;the Liquidation Preference Amount with respect to the Series&nbsp;A Convertible Preferred Stock, in
each case as defined in the Certificate of Incorporation of Kinderhook, as amended (the &ldquo;<U>Kinderhook Charter</U>&rdquo;)
and determined in accordance with the Kinderhook Charter, without interest (the &ldquo;<U>Series&nbsp;A Consideration</U>&rdquo;).
From and after the Effective Time, each share of Series&nbsp;A Convertible Preferred Stock shall no longer be outstanding and shall
be automatically cancelled and shall cease to exist, and each applicable holder of such Series&nbsp;A Convertible Preferred Stock
shall cease to have any rights with respect thereto, except the right to receive the Series&nbsp;A Consideration therefor, without
interest, upon surrender of such Series&nbsp;A Convertible Preferred Stock in accordance with <U>Section&nbsp;2.2(b)</U>. Kinderhook
and Community will cooperate in providing all notices and communications to the holders of the Series&nbsp;A Convertible Preferred
Stock required pursuant to the terms of the Kinderhook Charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Treatment
of Kinderhook Series&nbsp;C Convertible Preferred Stock</U>. At the Effective Time, by virtue of the Merger and without any action
on the part of the Parties or holders of any securities of Kinderhook, subject to <U>Section&nbsp;2.1(e)</U> and any applicable
withholding Tax, each share of Kinderhook Series&nbsp;C Convertible Preferred Stock, par value $25.00 per share (the &ldquo;<U>Series&nbsp;C
Convertible Preferred Stock</U>&rdquo;), issued and outstanding immediately prior to the Effective Time (other than any such shares
to be cancelled in accordance with <U>Section&nbsp;2.1(d)</U>) shall be automatically converted into the right to receive an amount
in cash equal to the greater of (i)&nbsp;the Applicable Redemption Price per Share with respect to the Series&nbsp;C Convertible
Preferred Stock or (ii)&nbsp;the Liquidation Preference Amount with respect to the Series&nbsp;C Convertible Preferred Stock, in
each case as defined in the Kinderhook Charter and determined in accordance with the Kinderhook Charter, without interest (the
&ldquo;<U>Series&nbsp;C Consideration</U>&rdquo;). From and after the Effective Time, each share of Series&nbsp;C Convertible Preferred
Stock shall no longer be outstanding and shall be automatically cancelled and shall cease to exist, and each applicable holder
of such Series&nbsp;C Convertible Preferred Stock shall cease to have any rights with respect thereto, except the right to receive
the Series&nbsp;C Consideration therefor, without interest, upon surrender of such Series&nbsp;C Convertible Preferred Stock in
accordance with <U>Section&nbsp;2.2(b)</U>. Kinderhook and Community will cooperate in providing all notices and communications
to the holders of the Series&nbsp;C Convertible Preferred Stock required pursuant to the terms of the Kinderhook Charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cancellation
of Kinderhook Stock</U>. At the Effective Time, all Kinderhook Common Shares and Kinderhook Preferred Shares owned by any of the
Parties or by any of their respective Subsidiaries (other than any such shares owned in a fiduciary capacity or as a result of
debts previously contracted) shall be cancelled and shall cease to exist, and no consideration shall be delivered in exchange therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Adjustment
to Merger Consideration</U>. The Merger Consideration, Series&nbsp;A Consideration or Series&nbsp;C Consideration, as applicable,
shall be adjusted appropriately to reflect the effect of any stock split, reverse stock split, stock dividend (including any dividend
or distribution of securities convertible into Kinderhook Common Stock, Series&nbsp;A Convertible Preferred Stock or Series&nbsp;C
Convertible Preferred Stock), reorganization, recapitalization, reclassification, combination, exchange of shares or other like
change with respect to the number of shares of Kinderhook Common Stock, Series&nbsp;A Convertible Preferred Stock or Series&nbsp;C
Convertible Preferred Stock outstanding after the date hereof and prior to the Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Community
Common Stock</U>. At and after the Effective Time, each share of Community Common Stock issued and outstanding immediately prior
to the Effective Time shall remain an issued and outstanding share of Community Common Stock and shall not be affected by the Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Merger
Sub</U>. At and after the Effective Time, each share of common stock, par value $0.0001 per share, of Merger Sub issued and outstanding
immediately prior to the Effective Time shall be converted into one share of common stock, par value $0.001 per share, of the Surviving
Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Payment
for Securities; Surrender of </U></FONT><U>Kinderhook <FONT STYLE="font-family: Times New Roman, Times, Serif">Certificates</FONT></U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Paying
Agent</U>. Prior to the Effective Time, Community shall designate a registered transfer agent or bank or trust company reasonably
acceptable to Kinderhook to act as the paying agent in connection with the Merger (the &ldquo;<U>Paying Agent</U>&rdquo;). The
Paying Agent shall also act as the agent for Kinderhook&rsquo;s shareholders (other than with respect to Kinderhook Restricted
Shares) for the purpose of receiving and holding their Kinderhook Certificates and Book-Entry Shares and shall obtain no rights
or interests in the shares represented thereby. At least one Business Day prior to the Effective Time, Community shall deposit,
or cause to be deposited, with the Paying Agent, cash in immediately available funds in an amount sufficient to pay the aggregate
Merger Consideration, Series&nbsp;A Consideration and Series&nbsp;C Consideration (such cash amount, the &ldquo;<U>Exchange Fund</U>&rdquo;),
in each case, for the sole benefit of the holders of shares of Kinderhook Common Stock and Kinderhook Preferred Stock. In the event
the Exchange Fund shall be insufficient to pay the aggregate Merger Consideration, Series&nbsp;A Consideration and Series&nbsp;C
Consideration, Community shall promptly deposit additional funds with the Paying Agent in an amount which is equal to the deficiency
in the amount required to make such payment. Community shall cause the Paying Agent to make, and the Paying Agent shall make, delivery
of the Merger Consideration, the Series&nbsp;A Consideration and the Series&nbsp;C Consideration out of the Exchange Fund in accordance
with this Agreement. The Exchange Fund shall not be used for any purpose that is not expressly provided for in this Agreement.
The Exchange Fund shall be invested by the Paying Agent as reasonably directed by Community; <U>provided</U>, <U>however</U>, that
no such investment or loss thereon shall affect the amounts payable to holders of Kinderhook Certificates or Book-Entry Shares
pursuant to this <U>Article&nbsp;2</U>. Any interest and other income resulting from such investments shall be paid to Community
on the earlier of (A)&nbsp;one (1)&nbsp;year after the Effective Time or (B)&nbsp;the full payment of the Exchange Fund.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Procedures
for Surrender</U>. Promptly after the Effective Time, Community shall cause the Paying Agent to mail (and make available for collection
by hand)&nbsp;to each holder of record of a certificate or certificates which immediately prior to the Effective Time represented
outstanding Kinderhook Common Shares or Kinderhook Preferred Shares (the &ldquo;<U>Kinderhook Certificates</U>&rdquo;) or non certificated
Kinderhook Common Shares or Kinderhook Preferred Shares represented by book-entry (&ldquo;<U>Book-Entry Shares</U>&rdquo;) and
whose Kinderhook Common Shares or Kinderhook Preferred Shares were converted pursuant to <U>Section&nbsp;2.1</U> into the right
to receive the Merger Consideration (other than with respect to Kinderhook Restricted Shares), the Series&nbsp;A Consideration
or the Series&nbsp;C Consideration, as applicable, (i)&nbsp;a letter of transmittal, which shall specify that delivery shall be
effected, and risk of loss and title to the Kinderhook Certificates shall pass, only upon delivery of the Kinderhook Certificates
(or affidavits of loss in lieu thereof)&nbsp;to the Paying Agent and shall be in such form and have such other provisions as Community
may reasonably specify and (ii)&nbsp;instructions for effecting the surrender of the Kinderhook Certificates (or affidavits of
loss in lieu thereof) or Book Entry Shares in exchange for payment of the Merger Consideration, the Series&nbsp;A Consideration
or the Series&nbsp;C Consideration, as applicable, into which such Kinderhook Shares have been converted pursuant to <U>Section&nbsp;2.1</U>.
Upon surrender of a Kinderhook Certificate (or an affidavit of loss in lieu thereof) or Book-Entry Share for cancellation to the
Paying Agent or to such other agent or agents as may be appointed by Community, together with such letter of transmittal duly completed
and validly executed in accordance with the instructions thereto, and such other documents as may be required pursuant to such
instructions, the holder of such Kinderhook Certificate or Book-Entry Share shall be entitled to receive in exchange therefor,
in the case of Kinderhook Common Shares, the applicable Merger Consideration pursuant to the provisions of this <U>Article&nbsp;2</U>
for each Kinderhook Common Share formerly represented by such Kinderhook Certificate or Book-Entry Share, and in the case of Kinderhook
Preferred Shares, the Series&nbsp;A Consideration or the Series&nbsp;C Consideration, as applicable, for each Kinderhook Preferred
Share formerly represented by such Kinderhook Certificate or Book-Entry Share, in each case, to be mailed (or made available for
collection by hand if so elected by the surrendering holder) within five (5)&nbsp;Business Days following the Paying Agent&rsquo;s
receipt of such Kinderhook Certificate (or affidavit of loss in lieu thereof) or Book-Entry Share, and the Kinderhook Certificate
(or affidavit of loss in lieu thereof) or Book-Entry Share so surrendered shall be forthwith cancelled. The Paying Agent shall
accept such Kinderhook Certificates (or affidavits of loss in lieu thereof) or Book-Entry Shares upon compliance with such reasonable
terms and conditions as the Paying Agent may impose to effect an orderly exchange thereof in accordance with normal exchange practices.
If payment of the Merger Consideration, the Series&nbsp;A Consideration or the Series&nbsp;C Consideration, as applicable, is to
be made to a Person other than the Person in whose name the surrendered Kinderhook Certificate is registered, it shall be a condition
precedent of payment that (A)&nbsp;the Kinderhook Certificate so surrendered shall be properly endorsed or shall be otherwise in
proper form for transfer and (B)&nbsp;the Person requesting such payment shall have paid any transfer and other similar Taxes required
by reason of the payment of the Merger Consideration, the Series&nbsp;A Consideration or the Series&nbsp;C Consideration, as applicable,
to a Person other than the registered holder of the Kinderhook Certificate surrendered or shall have established to the satisfaction
of Community that such Tax either has been paid or is not required to be paid. Payment of the applicable Merger Consideration,
Series&nbsp;A Consideration or Series&nbsp;C Consideration with respect to Book-Entry Shares shall only be made to the Person in
whose name such Book-Entry Shares are registered. Until surrendered as contemplated by this <U>Section&nbsp;2.2</U>, each Kinderhook
Certificate and Book-Entry Share shall be deemed at any time after the Effective Time to represent only the right to receive the
applicable Merger Consideration, Series&nbsp;A Consideration or Series&nbsp;C Consideration, as applicable, as contemplated by
this <U>Article&nbsp;2</U>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transfer
Books; No Further Ownership Rights in Kinderhook Shares</U>. At the Effective Time, the stock transfer books of Kinderhook shall
be closed and thereafter there shall be no further registration of transfers of Kinderhook Shares on the records of Kinderhook.
From and after the Effective Time, the holders of Kinderhook Certificates or Book-Entry Shares (including, for the avoidance of
doubt, Kinderhook Restricted Shares)&nbsp;outstanding immediately prior to the Effective Time shall cease to have any rights with
respect to such Kinderhook Shares except as otherwise provided for herein or by applicable Law. If, after the Effective Time, Kinderhook
Certificates or Book-Entry Shares (including, for the avoidance of doubt, Kinderhook Restricted Shares) are presented to the Surviving
Corporation for any reason, they shall be cancelled and exchanged as provided in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
of Exchange Fund; No Liability</U>. At any time following twelve (12)&nbsp;months after the Effective Time, Community shall be
entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) remaining
in the Exchange Fund that have not been disbursed, or for which disbursement is pending subject only to the Paying Agent&rsquo;s
routine administrative procedures, to holders of Kinderhook Certificates or Book-Entry Shares, and thereafter such holders shall
be entitled to look only to Community (subject to abandoned property, escheat or other similar Laws)&nbsp;as general creditors
thereof with respect to the applicable Merger Consideration, Series&nbsp;A Consideration or Series&nbsp;C Consideration, as applicable,
payable upon due surrender of their Kinderhook Certificates or Book-Entry Shares and compliance with the procedures in <U>Section&nbsp;2.2(b)</U>,
without any interest thereon. Notwithstanding the foregoing, neither Community nor the Paying Agent shall be liable to any holder
of a Kinderhook Certificate or Book-Entry Share for any Merger Consideration, Series&nbsp;A Consideration or Series&nbsp;C Consideration
or other amounts delivered to a public official pursuant to any applicable abandoned property, escheat or similar Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Lost,
Stolen or Destroyed Kinderhook Certificates</U>. In the event that any Kinderhook Certificates shall have been lost, stolen or
destroyed, the Paying Agent shall issue in exchange for such lost, stolen or destroyed Kinderhook Certificates, upon the making
of an affidavit of that fact by the holder thereof and the payment by such holder of any fees and expenses required by the Paying
Agent, the applicable Merger Consideration, Series&nbsp;A Consideration or Series&nbsp;C Consideration, as applicable, payable
in respect thereof pursuant to <U>Section&nbsp;2.1</U> hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Dissenters&rsquo;
Rights</U></FONT>. (a)&nbsp;&nbsp;Notwithstanding anything in this Agreement to the contrary, Kinderhook Common Shares issued and
outstanding immediately prior to the Effective Time and held by a holder of record who did not vote in favor of the adoption of
this Agreement (or consent thereto in writing) and is entitled to demand and properly demands appraisal of such Kinderhook Common
Shares (&ldquo;<U>Dissenting Shares</U>&rdquo;) pursuant to, and who complies in all respects with, Sections&nbsp;623 and 910 of
the NYBCL (the &ldquo;<U>Appraisal Rights</U>&rdquo;) shall not be converted into the right to receive the Merger Consideration
payable pursuant to <U>Section&nbsp;2.1</U>, but instead at the Effective Time shall be converted into the right to receive payment
of the fair value of such Kinderhook Common Shares in accordance with the Appraisal Rights (it being understood and acknowledged
that at the Effective Time, such Dissenting Shares shall no longer be outstanding, shall automatically be cancelled and shall cease
to exist, and such holder shall cease to have any rights with respect thereto other than the right to receive the appraised value
of such Dissenting Shares to the extent afforded by the Appraisal Rights)&#894; <U>provided</U>, <U>however</U>, that if any such
holder (including any holder of Proposed Dissenting Shares) shall fail to perfect or otherwise shall waive, withdraw or lose the
right to payment of the fair value of such Dissenting Shares under the Appraisal Rights, then the right of such holder to be paid
the fair value of such holder&rsquo;s Dissenting Shares shall cease and such Dissenting Shares shall be deemed to have been converted
as of the Effective Time into, and to have become exchangeable solely for the right to receive, without interest or duplication,
the Merger Consideration. &ldquo;<U>Proposed Dissenting Shares</U>&rdquo; means shares of Kinderhook Common Stock whose holders
provide demands for appraisal to Kinderhook prior to the Kinderhook Shareholder Meeting, or at such meeting but before the vote,
and do not vote in favor of the adoption of this Agreement, in each case in accordance with the Appraisal Rights.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
shall give prompt notice to Community of any demands received by Kinderhook for appraisal of any Kinderhook Common Shares, of any
withdrawals of such demands and of any other instruments served pursuant to the NYBCL and received by Kinderhook relating to Appraisal
Rights, and Community shall have the opportunity to participate in and direct all negotiations and proceedings with respect to
such demands. Prior to the Effective Time, Kinderhook shall not, without the prior written consent of Community, make any payment
with respect to, or settle or compromise or offer to settle or compromise, any such demand, or agree to do any of the foregoing.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Treatment
of </U></FONT><U>Kinderhook <FONT STYLE="font-family: Times New Roman, Times, Serif">Equity Awards</FONT></U>. (a)&nbsp;&nbsp;As
of immediately prior to the Effective Time, each share of Kinderhook Common Stock subject to vesting or forfeiture restrictions
and granted under any Kinderhook Benefit Plan that is outstanding immediately prior to the Effective Time (a &ldquo;<U>Kinderhook
Restricted Share</U>&rdquo;), whether or not then vested, shall, automatically and without any action on behalf of the holder thereof,
vest in full and the restrictions thereon shall lapse, and such Kinderhook Restricted Share shall be canceled and converted into
a right of the former holder of such Kinderhook Restricted Share to receive an amount in cash, without interest, equal to the Merger
Consideration plus all dividends, if any, accrued but unpaid as of the Effective Time with respect to such Kinderhook Restricted
Share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the Effective Time, Kinderhook or its Board of Directors or a committee thereof, as applicable, shall pass resolutions and take
any actions as are necessary to effectuate the provisions of this <U>Section&nbsp;2.4</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to <U>Section&nbsp;2.5</U>, promptly following the Effective Time, any amounts due to the former holders of Kinderhook Restricted
Shares pursuant to this <U>Section&nbsp;2.4</U> shall be paid through the payroll system of the Surviving Corporation or one of
its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Withholding</U></FONT>.
Community shall be entitled to deduct and withhold, or cause the Paying Agent or the Surviving Corporation or any of its Subsidiaries
to deduct and withhold, from the consideration otherwise payable to a holder of Kinderhook Common Stock, Kinderhook Preferred Stock
or Kinderhook Restricted Shares pursuant to this Agreement, any amounts as are required to be withheld or deducted with respect
to such consideration under the Code, or any applicable provisions of state, local or foreign Tax Law. To the extent that amounts
are so withheld and timely remitted to the appropriate Governmental Authority, such withheld amounts shall be treated for all purposes
of this Agreement as having been paid to the holder of Kinderhook Common Stock, Kinderhook Preferred Stock or Kinderhook Restricted
Shares in respect of which such deduction and withholding was made.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Kinderhook
<FONT STYLE="font-family: Times New Roman, Times, Serif">Warrants</FONT></U>. (a)&nbsp;&nbsp;As of the Effective Time, each outstanding
Kinderhook Warrant shall become exercisable, upon payment of the applicable exercise price thereof, solely for an amount in cash
per share of Kinderhook Common Stock underlying such Kinderhook Warrant equal to the Merger Consideration.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Community
and Kinderhook will cooperate in providing all notices and communications to the holders of Kinderhook Warrants.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Article&nbsp;3</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Representations
and Warranties</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Disclosure
Letters</U></FONT>. Concurrently with the execution and delivery of this Agreement, Kinderhook has delivered to Community and Merger
Sub and Community and Merger Sub have delivered to Kinderhook a letter that will be treated confidentially (the &ldquo;<U>Kinderhook
Disclosure Letter</U>&rdquo; and the &ldquo;<U>Community Disclosure Letter</U>,&rdquo; respectively) setting forth, among other
things, items the disclosure of which is necessary or appropriate either in response to an express disclosure requirement contained
in a provision hereof or as an exception to one or more of Kinderhook&rsquo;s, on the one hand, or Community&rsquo;s and Merger
Sub&rsquo;s, on the other hand, respective representations or warranties contained in this <U>Article&nbsp;3</U> or to one or more
of its covenants contained in <U>Article&nbsp;4</U>; <U>provided</U>, that (a)&nbsp;no such item is required to be set forth in
the Kinderhook Disclosure Letter or the Community Disclosure Letter as an exception to any representation or warranty of Kinderhook
or Community and Merger Sub, respectively, if its absence would not result in the related representation or warranty being deemed
untrue or incorrect, and (b)&nbsp;the mere inclusion of an item in the Kinderhook Disclosure Letter or the Community Disclosure
Letter as an exception to a representation or warranty shall not be deemed an admission by Kinderhook or Community and Merger Sub,
respectively, that such item represents a material exception or fact, event or circumstance or that such item would reasonably
be expected to result in a Material Adverse Effect on Kinderhook or Community, respectively. Any disclosures made with respect
to a subsection of <U>Section&nbsp;3.2</U> or <U>Section&nbsp;3.3</U> shall be deemed to qualify any other subsections of <U>Section&nbsp;3.2</U>
or <U>Section&nbsp;3.3</U>, respectively, specifically referenced or cross-referenced or that contains sufficient detail to enable
a reasonable Person to recognize the relevance of such disclosure to such other subsections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Representations
and Warranties of </U></FONT><U>Kinderhook</U>. Subject to and giving effect to <U>Section&nbsp;3.1</U> and except as set forth
in the Kinderhook Disclosure Letter, Kinderhook hereby represents and warrants to Community and Merger Sub as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization,
Standing, and Power</U>. Each Subsidiary of Kinderhook is listed in Section&nbsp;3.2(a) of the Kinderhook Disclosure Letter. Kinderhook
and each of its Subsidiaries (i)&nbsp;are duly organized, validly existing, and (as to corporations) are in good standing under
the Laws of the jurisdiction of their respective organization, (ii)&nbsp;have the requisite corporate power and authority to own,
lease, and operate their properties and assets and to carry on their businesses as now conducted, and (iii)&nbsp;are duly qualified
or licensed to do business and in good standing in the States of the United States and foreign jurisdictions where the character
of their assets or the nature or conduct of their business requires them to be so qualified or licensed, except in the case of
this clause&nbsp;(iii) where the failure to be so qualified or licensed, individually or in the aggregate, has not had and would
not reasonably be expected to have a Material Adverse Effect on Kinderhook. Kinderhook is registered with the Federal Reserve Board
as a bank holding company within the meaning of the BHC Act and meets the applicable requirements to be treated as a financial
holding company under the BHC Act. Kinderhook Bank is a national banking association with its main office located in the State
of New York. Kinderhook Bank is an &ldquo;insured depository institution&rdquo; as defined in the Federal Deposit Insurance Act
and applicable regulations thereunder, its deposits are insured by the FDIC through the Deposit Insurance Fund to the fullest extent
permitted by Law, and all insurance premiums and assessments required to be paid in connection therewith have been paid when due.
No action for the revocation or termination of such deposit insurance is pending or, to the Knowledge of Kinderhook, threatened.
Kinderhook Bank is a member in good standing of the Federal Home Loan Bank of New York.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authority;
No Breach of Agreement</U>. (i)&nbsp;&nbsp;Kinderhook has the corporate power and authority necessary to execute, deliver, and
perform its obligations under this Agreement and to consummate the transactions contemplated hereby. The execution, delivery, and
performance of this Agreement, and the consummation of the transactions contemplated hereby, have been duly and validly authorized
by all necessary corporate action (including valid authorization and adoption of this Agreement by Kinderhook&rsquo;s duly constituted
Board of Directors), subject only to the Kinderhook Shareholder Approval. This Agreement has been duly executed and delivered by
Kinderhook and, assuming due authorization, execution, and delivery of this Agreement by Community and Merger Sub, this Agreement
represents a legal, valid and binding obligation of Kinderhook enforceable against Kinderhook in accordance with its terms (except
in all cases as such enforceability may be limited by (A)&nbsp;bankruptcy, insolvency, reorganization, moratorium, receivership,
conservatorship and other Laws now or hereafter in effect relating to or affecting the enforcement of creditors&rsquo; rights generally
and (B)&nbsp;general equitable principles and except that the availability of the equitable remedy of specific performance or injunctive
relief is subject to the discretion of the court before which any proceeding may be brought).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook&rsquo;s
Board of Directors has: (A)&nbsp;by the unanimous vote of the entire Board of Directors, duly approved and declared advisable this
Agreement and the Merger and the other transactions contemplated hereby, including the Bank Merger Agreement and the Bank Merger;
(B)&nbsp;determined that this Agreement and the transactions contemplated hereby are fair to and in the best interests of Kinderhook
and the holders of Kinderhook Common Stock; (C) resolved to recommend that the holders of Kinderhook Common Stock adopt this Agreement
(such recommendation being the &ldquo;<U>Kinderhook Directors&rsquo; Recommendation</U>&rdquo;); and (D)&nbsp;directed that this
Agreement be submitted to the holders of Kinderhook Common Stock for their adoption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
Bank&rsquo;s Board of Directors has, by the unanimous vote of the entire Board of Directors, duly approved and declared advisable
the Bank Merger Agreement, the Bank Merger and the other transactions contemplated hereby and thereby.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Kinderhook Shareholder Approval is the only vote of the holders of any class or series of Kinderhook&rsquo;s capital stock or other
securities required by applicable Law in connection with the consummation of the Merger. No vote of the holders of any class or
series of Kinderhook&rsquo;s capital stock or other securities is required in connection with the consummation of any of the transactions
contemplated hereby to be consummated by Kinderhook other than the Merger.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the execution and delivery of this Agreement or the Bank Merger Agreement by Kinderhook or Kinderhook Bank, as applicable, nor
the consummation by either of them of the transactions contemplated hereby or thereby, nor compliance by either of them with any
of the provisions hereof or thereof, will (A)&nbsp;violate, conflict with or result in a breach of any provision of the Organizational
Documents of Kinderhook or any of its Subsidiaries, (B)&nbsp;except as set forth in Section&nbsp;3.2(b)(v) of the Kinderhook Disclosure
Letter, violate, conflict with, result in a breach of any provision of or the loss of any benefit under, constitute a default (or
an event which, with notice or lapse of time, or both, would constitute a default)&nbsp;under, result in the termination of or
a right of termination or cancellation under, accelerate the performance required by, or result in the creation of any Lien (other
than Permitted Liens)&nbsp;upon any of the respective properties or assets of Kinderhook or any of its Subsidiaries under, any
of the terms, conditions or provisions of any note, bond, mortgage, indenture, deed of trust, license, lease, Contract, Permit
or other instrument or obligation to which Kinderhook or any of its Subsidiaries is a party, or by which they or any of their respective
properties or assets may be bound, or (C) subject to receipt of the Requisite Regulatory Approvals and the expiration of any waiting
period required by Law as described in clause&nbsp;(vi)&nbsp;below, violate any Law or Order applicable to Kinderhook or its Subsidiaries
or any of their respective material assets.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
for (A)&nbsp;the filing of applications, filings and notices, as applicable, with the Federal Reserve Board under the BHC Act and
approval of such applications, filings and notices, (B)&nbsp;the filing of applications, filings and notices, as applicable, with
the OCC in connection with the Bank Merger, including under the Bank Merger Act, and approval of such applications, notices and
filings, (C)&nbsp;the filing of any required applications, notices or filings with any state banking authorities listed on Section&nbsp;3.2(b)(vi)(C)
of the Kinderhook Disclosure Letter or Section&nbsp;3.3(b)(iv)(C) of the Community Disclosure Letter and approval of such applications,
notices or filings, (D)&nbsp;the filing of the Certificate of Merger with the New York Secretary pursuant to the NYBCL and (E)&nbsp;as
otherwise set forth in Section&nbsp;3.2(b)(vi)(E) of the Kinderhook Disclosure Letter, no Order of, or Consent of, to or with,
any Governmental Authority or other third party is necessary in connection with the execution, delivery or performance of this
Agreement or the Bank Merger Agreement by Kinderhook or Kinderhook Bank, as applicable, or the consummation by Kinderhook or Kinderhook
Bank, as applicable, of the Merger, the Bank Merger and the other transactions contemplated by this Agreement and the Bank Merger
Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Capital
Stock</U>. Kinderhook&rsquo;s authorized capital stock consists of (i)&nbsp;4,000,000 shares of Kinderhook Common Stock, of which,
as of January&nbsp;18, 2019, 1,174,760.509 shares are issued and outstanding (which includes 4,900 Kinderhook Restricted Shares)
and (ii)&nbsp;100,000 shares of preferred stock, par value $25.00 per share, (x)&nbsp;12,690 of which have been designated Series&nbsp;A
Convertible Preferred Stock, 12,087 shares of which are issued and outstanding, (y)&nbsp;7,000 of which have been designated Non-Cumulative
Perpetual Preferred Stock, Series&nbsp;B, zero shares of which are issued and outstanding and (z)&nbsp;22,400 of which have been
designated Series&nbsp;C Convertible Preferred Stock, 20,687 shares of which are issued and outstanding. Each share of Series&nbsp;A
Convertible Preferred Stock and Series&nbsp;C Convertible Preferred Stock is convertible into the number of Kinderhook Common Shares
set forth on Section&nbsp;3.2(c)(i) of the Kinderhook Disclosure Letter. There are no accumulated dividends on any of the Kinderhook
Preferred Shares. As of the date of this Agreement, the Series&nbsp;A Consideration is $378.00 and the Series&nbsp;C Consideration
is $385.72. Set forth in Section&nbsp;3.2(c)(i) of the Kinderhook Disclosure Letter is a true and complete schedule of all outstanding
Rights to acquire Kinderhook Shares (including all Kinderhook Warrants) and outstanding Kinderhook Restricted Shares, including
grant date, vesting schedule, exercise price, expiration date and the name of the holder of such Rights. As of the date of this
Agreement, there are approximately 205,097.78 &ldquo;phantom stock appreciation rights&rdquo; outstanding under any Kinderhook
Benefit Plan (&ldquo;<U>SAR Rights</U>&rdquo;), and Kinderhook has an aggregate Liability with respect thereto of $2,108,371.36.
Such approximate number of SAR Rights and the approximate Liability with respect thereto shall be updated by Kinderhook and communicated
to Community in writing upon (x) Kinderhook&rsquo;s receipt of the 2018 annual report regarding the SAR Rights prepared by the
administrator of the SAR Rights plan, expected to be delivered in the second calendar quarter of 2019, or (y) otherwise upon Community&rsquo;s
request. Section&nbsp;3.2(c)(ii) of the Kinderhook Disclosure Letter sets forth the name of each holder of SAR Rights, and the
number of SAR Rights he or she holds as well as the applicable vesting schedule, applicable payment timing and aggregate Liability
with respect thereto. Except as set forth in this <U>Section&nbsp;3.2(c)</U> or in Section&nbsp;3.2(c)(i) or Section&nbsp;3.2(c)(ii)
of the Kinderhook Disclosure Letter, there are no shares of Kinderhook Common Stock or Kinderhook preferred stock or other equity
or equity-based securities of Kinderhook outstanding or reserved for issuance and no outstanding Rights relating to the Kinderhook
Common Stock or Kinderhook preferred stock, and no Person has any Contract or any right or privilege (whether pre-emptive or contractual)&nbsp;capable
of becoming a Contract or Right for the purchase, subscription or issuance of any securities of Kinderhook. All of the outstanding
shares of Kinderhook Common Stock and Kinderhook Preferred Stock are duly and validly issued and outstanding and are fully paid
(or will be fully paid when vested) and, except as expressly provided otherwise under applicable Law, nonassessable under the NYBCL.
None of the outstanding shares of Kinderhook Common Stock or Kinderhook Preferred Stock have been issued in violation of any preemptive
rights of the current or past shareholders of Kinderhook. There are no Contracts among Kinderhook and its shareholders or by which
Kinderhook is bound with respect to the voting, transfer, repurchase or redemption of Kinderhook Common Stock or Kinderhook Preferred
Stock or the granting of registration rights to any holder thereof. All of the outstanding shares of Kinderhook Common Stock and
Kinderhook Preferred Stock and all Rights to acquire shares of Kinderhook Common Stock have been issued in compliance with all
applicable federal and state Securities Laws, and all Kinderhook Restricted Shares have been validly and timely registered with
the SEC, to the extent required to be registered. All issued and outstanding shares of capital stock of Kinderhook&rsquo;s Subsidiaries
have been duly authorized and are validly issued, fully paid and (except as provided in 12 U.S.C. Section&nbsp;55) nonassessable.
All of the outstanding shares of capital stock of Kinderhook&rsquo;s Subsidiaries are owned by Kinderhook or a wholly owned Subsidiary
thereof, free and clear of all Liens. None of Kinderhook&rsquo;s Subsidiaries has outstanding any Right to acquire any shares of
its capital stock or any security convertible into such shares, or has any obligation or commitment to issue, sell or deliver any
of the foregoing or any shares of its capital stock. The outstanding capital stock of each of Kinderhook&rsquo;s Subsidiaries has
been issued in compliance with all legal requirements and is not subject to any preemptive or similar rights. Each of the Subsidiaries
of Kinderhook is directly or indirectly wholly owned by Kinderhook. Kinderhook has no direct or indirect ownership interest in
any firm, corporation, bank, joint venture, association, partnership or other entity, nor is it under any current or prospective
obligation to form or participate in, provide funds to, make any loan, capital contribution, guarantee, credit enhancement or other
investment in, or assume any Liability or obligation of, any Person other than lending transactions which occur in the ordinary
course of business consistent with past practice. Neither Kinderhook nor any of its Subsidiaries has any outstanding bonds, debentures,
notes or other obligations having the right to vote (or convertible into, or exchangeable or exercisable for, securities having
the right to vote) with the shareholders of Kinderhook or such Subsidiary on any matter. Section&nbsp;3.2(c)(iii) of the Kinderhook
Disclosure Letter sets forth a true, correct and complete listing of each outstanding series of trust preferred securities, REIT
preferred securities and subordinated debt securities of Kinderhook and its Subsidiaries and certain information with respect thereto,
including the holders of such securities as of the date of this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reports;
Financial Statements</U>. (i)&nbsp;&nbsp;Kinderhook and each of its Subsidiaries have timely filed (or furnished, as applicable)&nbsp;all
reports, registrations and statements, together with any amendments required to be made with respect thereto, that they were required
to file since December&nbsp;31, 2015 with any Governmental Authorities (including any Regulatory Authorities), including any report,
registration or statement required to be filed (or furnished, as applicable) pursuant to the Laws of the United States, any state
or political subdivision, any foreign entity or jurisdiction, or any other Governmental Authority or Regulatory Authority, and
have paid all fees and assessments due and payable in connection therewith. Except for normal examinations conducted by a Regulatory
Authority in the ordinary course of business of Kinderhook and its Subsidiaries, (A)&nbsp;no Regulatory Authority has initiated
or has pending any proceeding or, to the Knowledge of Kinderhook, investigation into the business or operations of Kinderhook or
any of its Subsidiaries since December&nbsp;31, 2015, (B)&nbsp;there is no unresolved violation, criticism, or exception by any
Regulatory Authority with respect to any report or statement relating to any examinations or inspections of Kinderhook or any of
its Subsidiaries, and (C)&nbsp;there has been no formal inquiries by, or disagreements or disputes with, any Regulatory Authority
with respect to the business, operations, policies or procedures of Kinderhook or any of its Subsidiaries since December&nbsp;31,
2015.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An
accurate copy of each final SEC Report filed with or furnished by Kinderhook or any of its Subsidiaries to the SEC since December&nbsp;31,
2015 pursuant to the Securities Act or the Exchange Act (the &ldquo;<U>Kinderhook Reports</U>&rdquo;) is publicly available. No
Kinderhook Report, as of the date thereof (and, in the case of registration statements and proxy statements, on the dates of effectiveness
and the dates of the relevant meetings, respectively), contained any untrue statement of a material fact or omitted to state any
material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances
in which they were made, not misleading, except that information filed or furnished as of a later date (but before the date of
this Agreement) shall be deemed to modify information as of an earlier date. As of their respective dates, all of the Kinderhook
Reports complied in all material respects with the published rules and regulations of the SEC with respect thereto. As of the date
of this Agreement, there are no outstanding comments from or unresolved issues raised by the SEC with respect to any of the Kinderhook
Reports.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
has delivered, or caused to be delivered, to Community, or provided Community access to, true and complete copies of the Kinderhook
Financial Statements. The Kinderhook Financial Statements (A)&nbsp;have been prepared from, and are in accordance with, the books
and records of Kinderhook and its Subsidiaries, (B)&nbsp;fairly present in all material respects the consolidated results of operations,
cash flows, changes in shareholders&rsquo; equity and consolidated financial position (as applicable) of Kinderhook and its Subsidiaries
for the respective fiscal periods or as of the respective dates therein set forth (subject in the case of unaudited statements
to year-end audit adjustments normal in nature and amount), (C)&nbsp;comply in all material respects with applicable accounting
requirements and with applicable Law with respect thereto and (D)&nbsp;have been prepared in accordance with GAAP consistently
applied during the periods involved, except, in each case, as indicated in such statements or in the notes thereto. The books and
records of Kinderhook and its Subsidiaries have been, and are being, maintained in all material respects in accordance with GAAP
and any other applicable legal and accounting requirements and reflect only actual transactions. Baker Newman &amp; Noyes, LLC
has not resigned (or informed Kinderhook that it intends to resign) or been dismissed as independent public accountants of Kinderhook
as a result of or in connection with any disagreements with Kinderhook on a matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its Subsidiaries has any Liability (whether absolute, accrued, contingent or otherwise and whether due or
to become due) required by GAAP to be included on a consolidated balance sheet of Kinderhook, except for those liabilities that
are reflected or reserved against on the consolidated balance sheet of Kinderhook as of September&nbsp;30, 2018 included in the
Kinderhook Financial Statements (including any notes thereto), and for liabilities incurred in (A)&nbsp;the ordinary course of
business consistent with past practice since September&nbsp;30, 2018 that are not, individually or in the aggregate, material to
Kinderhook and its Subsidiaries, taken as a whole, or (B)&nbsp;in connection with this Agreement and the transactions contemplated
hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
records, systems, controls, data and information of Kinderhook and its Subsidiaries are recorded, stored, maintained and operated
under means (including any electronic, mechanical or photographic process, whether computerized or not)&nbsp;that are under the
exclusive ownership and direct control of Kinderhook or its Subsidiaries or accountants (including all means of access thereto
and therefrom). Kinderhook has disclosed, based on its most recent evaluation prior to the date of this Agreement, to Kinderhook&rsquo;s
outside auditors and the audit committee of Kinderhook&rsquo;s Board of Directors (A)&nbsp;any significant deficiencies and material
weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect
in any material respect Kinderhook&rsquo;s ability to record, process, summarize and report financial information and (B)&nbsp;any
fraud or allegation of fraud, whether or not material, that involves management or other employees who have a significant role
in Kinderhook&rsquo;s internal controls over financial reporting. Kinderhook has made available to Community prior to the date
of this Agreement any such disclosures made by management to Kinderhook&rsquo;s auditors and audit committee.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since
December&nbsp;31, 2015, (A)&nbsp;neither Kinderhook nor any of its Subsidiaries, nor, to the Knowledge of Kinderhook, any director,
officer, auditor, accountant or Representative of Kinderhook or any of its Subsidiaries, has received or otherwise had or obtained
knowledge of any material complaint, allegation, assertion or claim, whether written or oral, regarding the accounting or auditing
practices, procedures, methodologies or methods (including with respect to loan loss reserves, write-downs, charge-offs and accruals)
of Kinderhook or any of its Subsidiaries or their respective internal accounting controls, including any material complaint, allegation,
assertion or claim that Kinderhook or any of its Subsidiaries has engaged in questionable accounting or auditing practices, and
(B)&nbsp;no attorney representing Kinderhook or any of its Subsidiaries, whether or not employed by Kinderhook or any of its Subsidiaries,
has reported evidence of a material violation of Securities Laws, breach of fiduciary duty or similar violation by Kinderhook or
any of its officers, directors, employees or agents to the Board of Directors of Kinderhook or any committee thereof or to the
Knowledge of Kinderhook, to any director or officer of Kinderhook.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Absence
of Certain Changes or Events</U>. Since December&nbsp;31, 2017, (A)&nbsp;except as set forth in <U>Section&nbsp;3.2(e)</U> of the
Kinderhook Disclosure Letter and for the negotiation of this Agreement and the transactions contemplated hereby, Kinderhook and
each of its Subsidiaries has conducted its business in all material respects in the ordinary course of business consistent with
past practice, (B)&nbsp;neither Kinderhook nor any of its Subsidiaries has taken any action which, if taken after the date of this
Agreement, would constitute a breach of <U>Section&nbsp;4.1</U> or <U>4.2</U>, and (C)&nbsp;there have been no facts, events, changes,
circumstances or effects that have had, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect on Kinderhook.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Tax
Matters</U>. (i)&nbsp;&nbsp;All material amounts of Taxes of Kinderhook and each of its Subsidiaries (whether or not shown or required
to be shown on any Tax Return) have been fully and timely paid. Each of Kinderhook and its Subsidiaries has timely filed all material
Tax Returns required to have been filed by it or on its behalf, and each such Tax Return is true, complete and accurate in all
material respects. Neither Kinderhook nor any of its Subsidiaries is the beneficiary of any extension of time within which to file
any Tax Return. There have been no examinations or audits of any Tax Return by any Taxing Authority. Each of Kinderhook and its
Subsidiaries has made available to Community true and correct copies of the United States federal, state and local income Tax Returns
and related workpapers filed by it for any Taxable Period ending after December&nbsp;31, 2012. No claim has ever been made by a
Taxing Authority in a jurisdiction where Kinderhook or any of its Subsidiaries does not file a Tax Return that Kinderhook or any
of its Subsidiaries may be subject to Taxes by that jurisdiction, and to the Knowledge of Kinderhook and each of its Subsidiaries,
no basis for such a claim exists.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its Subsidiaries has received any notice of assessment or proposed assessment in connection with any Tax,
and there is no threatened or pending dispute, action, suit, proceeding, claim, investigation, audit, examination, or other Litigation
regarding any Tax of Kinderhook, any of its Subsidiaries or the assets of Kinderhook or any of its Subsidiaries. No officer or
employee responsible for Tax matters of Kinderhook or any of its Subsidiaries expects any Taxing Authority to assess any additional
Tax for any period for which a Tax Return has been filed. There are no agreements, waivers or other arrangements providing for
an extension of time with respect to the assessment of any Tax or deficiency against Kinderhook or any of its Subsidiaries, and
neither Kinderhook nor any of its Subsidiaries has waived or extended the applicable statute of limitations for the assessment
or collection of any Tax or agreed to a Tax assessment or deficiency. The relevant statute of limitations is closed with respect
to the federal and material state and local income and franchise Tax Returns of Kinderhook and its Subsidiaries for all Taxable
Periods through 2014.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as disclosed in Section&nbsp;3.2(f) of the Kinderhook Disclosure Letter neither Kinderhook nor any of its Subsidiaries is a party
to a Tax allocation, sharing, indemnification or similar agreement or any agreement pursuant to which it has any obligation to
any Person with respect to Taxes, and neither Kinderhook nor any of its Subsidiaries has been a member of an affiliated group filing
a consolidated federal, state or local income Tax Return or any combined, affiliated or unitary group for any Tax purpose (other
than the group of which it is currently a member), and neither Kinderhook nor any of its Subsidiaries has any Tax liability under
Treasury Regulation Section&nbsp;1.1502-6 or any similar provision of Law, or as a transferee or successor, by Contract or otherwise.
None of Kinderhook and its Subsidiaries have any deferred gain or loss arising out of any deferred intercompany transaction, as
described in Treasury Regulation Section&nbsp;1.1502-13, or, in the case of any of its Subsidiaries, have an excess loss account
in its stock, as described in Treasury Regulation Section&nbsp;1.1502-19.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
and its Subsidiaries have withheld and paid over to the appropriate Taxing Authority all amounts of Taxes required to have been
withheld and paid over by them, and have complied in all respects with all information reporting and backup withholding requirements
under all applicable federal, state, local and foreign Laws in connection with amounts paid or owing to any Person, including Taxes
required to have been withheld and paid in connection with amounts paid or owing to any employee or independent contractor, and
Taxes required to be withheld and paid pursuant to Sections&nbsp;1441, 1442 and 3406 of the Code or similar provisions under state,
local or foreign Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its Subsidiaries has been a party to any distribution occurring during the five (5)-year period ending on
the date hereof in which the parties to such distribution treated the distribution as one to which Section&nbsp;355 of the Code
applied. No Liens for Taxes exist with respect to any assets of Kinderhook or any of its Subsidiaries, except for statutory Liens
for Taxes not yet due and payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its Subsidiaries is a &ldquo;controlled foreign corporation&rdquo; within the meaning of the Section&nbsp;957(a)
of the Code. Kinderhook and each of its Subsidiaries have complied with all of the income inclusion and Tax reporting provisions
of the U.S. anti-deferral Tax regimes, including the controlled foreign corporation, passive foreign investment company and foreign
personal holding company regimes.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its Subsidiaries is or has ever been a United States real property holding corporation within the meaning
of Section&nbsp;897(c) of the Code or any comparable provision of state Tax Law. Neither Kinderhook nor any of its Subsidiaries
has been or will be required to include any item in income or exclude any item of deduction from taxable income for any Tax period
(or portion thereof)&nbsp;ending after the Closing Date: (A)&nbsp;pursuant to Section&nbsp;481 of the Code or any comparable provision
under state, local or foreign Tax Law; (B)&nbsp;as a result of any &ldquo;closing agreement&rdquo; as described in Section&nbsp;7121
of the Code or any comparable provision under state, local, or foreign Tax Law, executed on or prior to the Closing Date; (C)&nbsp;with
respect to any intercompany transaction or excess loss account described in Treasury Regulations under Section&nbsp;1502 of the
Code or any comparable provision under state, local, or foreign Tax Law; (D)&nbsp;with respect to any installment sale or open
transaction disposition made on or prior to the Closing Date; or (E)&nbsp;with respect to any prepaid amount received on or prior
to the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
current net operating losses of Kinderhook and each of its Subsidiaries are described in Section&nbsp;3.2(f)(viii) of the Kinderhook
Disclosure Letter and none of such net operating losses are capital losses or, except as disclosed in Section&nbsp;3.2(f)(viii)
of the Kinderhook Disclosure Letter, subject to any limitation on their use under the provisions of Sections&nbsp;382 or 269 of
the Code or any other provisions of the Code or the Treasury Regulations or any comparable provision of state or local Tax Law
dealing with the utilization of net operating losses, other than any such limitations as may arise as a result of the consummation
of the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
and each of its Subsidiaries have disclosed on their Tax Returns any position taken for which substantial authority (within the
meaning of Section&nbsp;6662(d)(2)(B)(i) of the Code or comparable provision of state or local Tax Law) did not exist at the time
the Tax Return was filed. Neither Kinderhook nor any of its Subsidiaries has participated in any reportable transaction, as defined
in Treasury Regulation Section&nbsp;1.6011-4(b)(1) or any comparable provision of state or local Tax Law, or a transaction substantially
similar to a reportable transaction. Neither Kinderhook nor any of its Subsidiaries is a party to any joint venture, partnership,
or other arrangement or Contract which could be treated as a partnership for U.S. federal income Tax purposes.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
has never elected to qualify as a real estate investment trust within the meaning of Sections&nbsp;856 through 860 of the Code
(a &ldquo;<U>REIT</U>&rdquo;). Any Subsidiary of Kinderhook that has elected to qualify as a REIT for U.S. federal income tax purposes
(i)&nbsp;has so elected for all applicable taxable years commencing with the taxable year ended December&nbsp;31, 2007 through
December&nbsp;31, 2018; (ii)&nbsp;has been subject to taxation as a REIT and has satisfied the requirements to qualify as a REIT
for each year referenced in clause&nbsp;(i) above; (iii)&nbsp;has operated since January&nbsp;1, 2019 until the date hereof in
a manner consistent with the requirements for qualification and taxation as a REIT; (iv)&nbsp;intends to continue to operate in
such a manner as to qualify as a REIT for its taxable year that will include the Merger; and (iv)&nbsp;has not taken or omitted
to take any action that could reasonably be expected to result in a successful challenge by the IRS or any other Governmental Authority
to its qualification as a REIT, and no such challenge is pending or threatened. Neither Kinderhook nor any of its Subsidiaries
(i)&nbsp;holds any asset the disposition of which would be subject to (or to rules similar to) Section&nbsp;1374 of the Code, Treasury
Regulation Section&nbsp;1.337(d)-7 or any other temporary or final regulations issued under Section&nbsp;337(d) of the Code, or
(ii)&nbsp;has engaged at any time in any &ldquo;prohibited transactions&rdquo; within the meaning of Section&nbsp;857(b)(6) of
the Code. Section&nbsp;3.2(f) of the Kinderhook Disclosure Letter contains a true and complete list of each Subsidiary of Kinderhook
that is a REIT, each entity that is treated as a &ldquo;qualified REIT subsidiary&rdquo; within the meaning of Section&nbsp;856(i)(2)
of the Code, and each entity that has elected to be treated as a &ldquo;taxable REIT subsidiary&rdquo; within the meaning of Section&nbsp;856(l)
of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Environmental
Matters</U>. (i)&nbsp;&nbsp;Kinderhook has delivered, or caused to be delivered, to Community, or provided Community access to,
true and complete copies of all environmental site assessments, environmental test results, environmental analytical data, boring
logs and other environmental reports and studies held by Kinderhook and each of its Subsidiaries relating to their respective properties
and Facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as, individually or in the aggregate, has not had and would not reasonably be expected to have a Material Adverse Effect on Kinderhook,
Kinderhook and each of its Subsidiaries and their respective Facilities and properties are, and have been, in compliance with all
Environmental Laws, and there are no past or present events, conditions, circumstances, activities or plans related to the properties
or Facilities that did or would violate or prevent compliance or continued compliance with any of the Environmental Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as, individually or in the aggregate, has not had and would not reasonably be expected to have a Material Adverse Effect on Kinderhook,
during the period of (A)&nbsp;Kinderhook&rsquo;s or any of its Subsidiaries&rsquo; ownership or operation (including but not limited
to ownership or operation, directly or indirectly, in a fiduciary capacity) of their respective properties and Facilities, or (B)&nbsp;Kinderhook&rsquo;s
or any of its Subsidiaries&rsquo; participation in the management (including but not limited to such participation, directly or
indirectly, in a fiduciary capacity) of their respective properties and Facilities, there have been no releases, discharges, spillages
or disposals of Hazardous Material on, under, adjacent to or affecting (or potentially affecting) such properties or Facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance
with Permits, Laws and Orders</U>. (i)&nbsp;&nbsp;Kinderhook and each of its Subsidiaries have in effect all Permits and have made
all filings, applications and registrations with Governmental Authorities that are required for them to own, lease or operate their
respective properties and assets and to carry on their respective businesses as now conducted (and have paid all fees and assessments
due and payable in connection therewith) and there has occurred no Default under any Permit applicable to their respective businesses
or employees conducting their respective businesses.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
and each of its Subsidiaries are, and at all times since December&nbsp;31, 2015 have been, in compliance in all material respects
with all Laws applicable to their businesses, operations, properties or assets, including the Federal Reserve Act, the Equal Credit
Opportunity Act, the Fair Housing Act, the Community Reinvestment Act, the Home Mortgage Disclosure Act, the Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, the Bank Secrecy
Act, the Truth in Lending Act, the Fair Debt Collection Practices Act, the Electronic Fund Transfer Act, the Dodd-Frank Wall Street
Reform and Consumer Protection Act, the Fair Credit Reporting Act and all other applicable fair lending Laws and other Laws relating
to discriminatory business, financing, leasing, collection or other practices, and all agency requirements relating to the origination,
sale and servicing of mortgage loans and consumer loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its Subsidiaries has received any notification or communication from any Governmental Authority (A)&nbsp;asserting
that Kinderhook or any of its Subsidiaries is in Default under any of the Permits, Laws or Orders which such Governmental Authority
enforces, or (B)&nbsp;threatening or contemplating revocation or limitation of, or which would have the effect of revoking or limiting,
any Permits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its Subsidiaries is subject to any cease-and-desist or other order or formal enforcement action issued by,
or is a party to any formal written agreement, consent agreement or public memorandum of understanding with, or is a party to any
commitment letter or similar undertaking to, or is subject to any order or directive by, or has been ordered to pay any civil money
penalty by, or has been since December&nbsp;31, 2015, a recipient of any public supervisory letter from any Regulatory Authority
or other Governmental Authority that currently restricts in any material respect the conduct of its business or that in any material
manner relates to its capital adequacy, its ability to pay dividends, its credit or risk management policies, its management or
its business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its Subsidiaries (nor to Kinderhook&rsquo;s Knowledge any of their respective directors, executives, Representatives,
agents or employees) (A)&nbsp;has used or is using any corporate funds for any illegal contribution, gift, entertainment or other
unlawful expense relating to political activity, (B)&nbsp;has used or is using any corporate funds for any direct or indirect unlawful
payment to any foreign or domestic government official or employee from corporate funds, (C)&nbsp;has violated or is violating
any provision of the Foreign Corrupt Practices Act of 1977, as amended, or any other applicable anti-bribery or anti-corruption
Laws (collectively, the &ldquo;<U>Anti-Corruption Laws</U>&rdquo;) or (D)&nbsp;has made any bribe, unlawful rebate, payoff, influence
payment, kickback or other unlawful payment. Kinderhook and its Subsidiaries have established and maintain a system of internal
controls designed to provide reasonable assurances regarding compliance by Kinderhook and its Subsidiaries with all applicable
Anti-Corruption Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
and its Subsidiaries are and since December&nbsp;31, 2013 have been conducting operations at all times in compliance in all material
respects with applicable financial recordkeeping and reporting requirements of all money laundering Laws administered or enforced
by any Governmental Authority in jurisdictions where Kinderhook and its Subsidiaries conduct business (collectively, the &ldquo;<U>Anti-Money
Laundering Laws</U>&rdquo;). Kinderhook and its Subsidiaries have established and maintain a system of internal controls designed
to ensure compliance by Kinderhook and its Subsidiaries with applicable financial recordkeeping and reporting requirements of the
Anti-Money Laundering Laws.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as required by the Bank Secrecy Act, to Kinderhook&rsquo;s Knowledge, no employee of Kinderhook or any of its Subsidiaries has
provided or is providing information to any law enforcement agency regarding the commission or possible commission of any crime
or the violation or possible violation of any applicable Law by Kinderhook or any of its Subsidiaries or any employee thereof acting
in its capacity as such. Neither Kinderhook nor any of its Subsidiaries nor any officer, employee, contractor, subcontractor or
agent of Kinderhook or any such Subsidiary has discharged, demoted, suspended, threatened, harassed or in any other manner discriminated
against any employee of Kinderhook or any of its Subsidiaries in the terms and conditions of employment because of any act of such
employee described in 18 U.S.C. Section&nbsp;1514A(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its Subsidiaries nor to the Knowledge of Kinderhook, any director, officer, agent, employee or any other
Person acting on behalf of Kinderhook or any of its Subsidiaries, is currently the subject or the target of any sanctions administered
or enforced by any Governmental Authority (collectively, &ldquo;<U>Sanctions</U>&rdquo;), nor is Kinderhook or any of its Subsidiaries
located, organized or resident in a country or territory that is the subject or the target of Sanctions (each, a &ldquo;<U>Sanctioned
Country</U>&rdquo;). For the past five (5) years, Kinderhook and its Subsidiaries have not knowingly engaged in, are not now knowingly
engaged in and will not engage in, any dealings or transactions with any Person that at the time of the dealing or transaction
is or was the subject or the target of Sanctions or with any Sanctioned Country. Kinderhook and its Subsidiaries have established
and maintain a system of internal controls designed to provide reasonable assurances regarding compliance by Kinderhook and its
Subsidiaries with all applicable Sanctions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Labor
Matters</U>. (i)&nbsp;&nbsp;Neither Kinderhook nor any of its Subsidiaries is a party to or bound by or currently negotiating any
collective bargaining agreement or any other similar agreement with any labor organization, group or association. Since December&nbsp;31,
2015, neither Kinderhook nor any of its Subsidiaries has experienced any organizational campaign, petition or other unionization
activity relating to any Service Provider, including seeking to make Kinderhook or any of its Subsidiaries conform to demands of
organized labor or enter into any collective bargaining agreement or any other similar agreement with any labor organization, group
or association. There is no strike, work stoppage or labor disturbance pending or, to the Knowledge of Kinderhook, threatened against
Kinderhook or any of its Subsidiaries, and none of Kinderhook nor any of its Subsidiaries has experienced any such strike, stoppage
or disturbance since December&nbsp;31, 2015. The consent or consultation of, or the rendering of formal advice by, any labor or
trade union, works council or other employee representative body is not required for Kinderhook to enter into this Agreement or
to consummate any of the transactions contemplated hereby.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
is no unfair labor practice charge or other material Litigation regarding Service Providers against Kinderhook or any of its Subsidiaries
pending, or to the Knowledge of Kinderhook, threatened, before any court, arbitrator or Governmental Authority (including the National
Labor Relations Board). Neither Kinderhook nor any of its Subsidiaries has failed to comply with any collective bargaining agreement
or any other similar agreement with any labor organization, group or association and there are no grievances pending, or to the
Knowledge of Kinderhook, threatened, under any such agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
and its Subsidiaries are and have been since December&nbsp;31, 2015 in compliance in all material respects with, and to the Knowledge
of Kinderhook are not under investigation with respect to, applicable Laws with respect to employment and employee matters, including
employment practices, employee benefits, labor relations, terms and conditions of employment, Tax withholding, discrimination,
equal employment, fair employment practices, immigration, employee classification, human rights, pay equity, workers&rsquo; compensation,
employee safety and health, facility closings and layoffs (including the Worker Adjustment and Retraining Notification Act of 1988
(together with any other similar Laws, &ldquo;<U>WARN</U>&rdquo;)) and wages and hours. During the ninety (90) day period prior
to the date hereof, neither Kinderhook nor any of its Subsidiaries has effectuated or announced or has plans to effectuate or announce
(A)&nbsp;a &ldquo;plant closing,&rdquo; (B)&nbsp;a &ldquo;mass layoff&rdquo; or (C)&nbsp;any other transaction, layoff, reduction
in force or employment terminations sufficient in number to trigger application of WARN. No Service Providers provide services
to Kinderhook or any of its Subsidiaries outside of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Service Provider is in any material respect in violation of any term of any employment agreement, nondisclosure agreement, common
law nondisclosure obligation, fiduciary duty, noncompetition agreement, restrictive covenant or other obligation relating to the
(i) right of any such Service Provider to be employed by, or provide services to, Kinderhook and its Subsidiaries or (ii)&nbsp;knowledge
or use of trade secrets or proprietary information. Except as disclosed in Section&nbsp;3.2(i)(iv) of the Kinderhook Disclosure
Letter, no Service Provider at or above the level of Vice President has given written notice or, to the Knowledge of Kinderhook,
other notice of his or her intention to terminate his or her employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Employee
Benefit Plans</U>. (i)&nbsp;&nbsp;Section&nbsp;3.2(j)(i) of the Kinderhook Disclosure Letter contains a correct and complete list
identifying each Kinderhook Benefit Plan. No Kinderhook Benefit Plan is operated outside of the United States. True and complete
copies of each Kinderhook Benefit Plan (and, if applicable, related trust or funding agreements or insurance policies) and all
amendments thereto or written interpretations thereof (including summary plan descriptions) have been furnished to Community together
with any related (A)&nbsp;determination letter received from the Internal Revenue Service (&ldquo;<U>IRS</U>&rdquo;), (B)&nbsp;material
communications to or from the IRS, the Pension Benefit Guaranty Corporation or any other Governmental Authority and (C)&nbsp;the
three (3) most recent annual reports on Form 5500, financial statements and actuarial reports. Neither Kinderhook nor any of its
Subsidiaries has committed to make any amendment to any Kinderhook Benefit Plan or to adopt or approve any new Benefit Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since
December&nbsp;31, 2015, all Kinderhook Benefit Plans have been administered in all material respects in compliance with their terms
and with the applicable provisions of ERISA, the Code, the Patient Protection and Affordable Care Act (as amended) and all other
applicable Laws and no events have occurred with respect to any Kinderhook Benefit Plan that could reasonably result in payment
or assessment by or against Kinderhook or any of its Subsidiaries of any penalties, Taxes, or other claims for relief under ERISA
or the Code. There are no pending or, to the Knowledge of Kinderhook, threatened Litigation, governmental audits or investigations
or other proceedings or participant claims (other than claims for benefits in the ordinary course of business) with respect to
or against any Kinderhook Benefit Plan or its assets. No prohibited transaction (within the meaning of Section&nbsp;406 of ERISA
and Section&nbsp;4975 of the Code) or any breach of a fiduciary duty has occurred with respect to any Kinderhook Benefit Plan that
has caused or would reasonably be expected to cause Kinderhook or any of its Subsidiaries to incur any Liability under ERISA or
the Code. Each Kinderhook Benefit Plan that is a &ldquo;non-qualified deferred compensation plan&rdquo; (as defined for purposes
of Section&nbsp;409A of the Code) is in documentary compliance with, and has been operated and administered in compliance with,
Section&nbsp;409A of the Code and the applicable guidance issued thereunder. There is no Contract, plan or arrangement covering
any Service Provider that, individually or collectively, would entitle any Service Provider to any Tax gross-up or similar payment
from Kinderhook or any of its Subsidiaries in respect of any Taxes that may become payable under Section&nbsp;409A or Section&nbsp;4999
of the Code. All contributions and amounts due and payable under any Kinderhook Benefit Plan have been timely paid and accrued
on the Kinderhook Financial Statements in accordance with GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Kinderhook Benefit Plan that is intended to be qualified under Section&nbsp;401(a) of the Code has received a favorable determination
letter, or has pending or has time remaining in which to file, an application for such determination from the IRS, and, to the
Knowledge of Kinderhook, there are no facts or circumstances that would reasonably be expected to cause any such determination
letter to be revoked or not be reissued. Each trust created under any such Kinderhook Benefit Plan is, and has been since its establishment,
exempt from Tax under Section&nbsp;501(a) of the Code and, to the Knowledge of Kinderhook, there are no facts or circumstances
that would reasonably be expected to result in the revocation of such exemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its ERISA Affiliates has engaged in any transaction described in Section&nbsp;4069 of the Code nor has incurred
or reasonably expects to incur, any Liability arising in connection with the termination of a Title&nbsp;IV Plan. Neither Kinderhook
nor any of its ERISA Affiliates (nor any predecessor thereto) sponsors, maintains, administers or contributes to or has any obligation
to contribute to (or has ever sponsored, maintained, administered or contributed to or had any obligation to contribute to), or
has any Liability (contingent or otherwise) with respect to, any Benefit Plan that is subject to Title&nbsp;IV of ERISA, Section&nbsp;412
of the Code or Section&nbsp;302 of ERISA, any &ldquo;multiemployer plan,&rdquo; as such term is defined in Section&nbsp;3(37) of
ERISA, a &ldquo;multiple employer plan,&rdquo; within the meaning of Section&nbsp;210 of ERISA or &ldquo;multiple employer welfare
arrangement,&rdquo; as such term is defined in Section&nbsp;3(40) of ERISA.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its ERISA Affiliates has any current or projected obligations or Liability for post-employment or post-retirement
health, medical, or life insurance benefits under any Kinderhook Benefit Plan, other than with respect to benefit coverage mandated
by Section&nbsp;4980B of the Code (and at the sole cost of the applicable Service Provider). There are no loans or other types
of indebtedness outstanding between Kinderhook and any of its Subsidiaries, as creditor, and any Service Provider, as debtor (or
vice versa, other than outstanding obligations with respect to employee compensation or payments or contributions under any Kinderhook
Benefit Plan that are accrued but not yet paid).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
consummation of the transactions contemplated by this Agreement will not (either alone or together with any other event) (A)&nbsp;entitle
any Service Provider to severance pay, any other payment or forgiveness of indebtedness, (B)&nbsp;increase or enhance any benefits
or accelerate the time of payment or vesting or trigger any payment of funding (through a grantor trust or otherwise) of compensation
or benefits under, increase the amount payable or trigger any other obligation pursuant to, any Kinderhook Benefit Plan or any
other agreement or arrangement with any Service Provider, (C) result in any violation of, or default under, or limit the right
of Kinderhook or its Subsidiaries, or, after the Effective Time, Community or any of its Subsidiaries, to amend, modify or terminate
any Kinderhook Benefit Plan or (D) result in an amount paid or payable (whether in cash, property, in-kind benefits, the acceleration
of vesting or payment or otherwise) that is an &ldquo;excess parachute payment&rdquo; within the meaning of Section&nbsp;280G of
the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Material
Contracts</U>. (i)&nbsp;&nbsp;Except as listed in Section&nbsp;3.2(k) of the Kinderhook Disclosure Letter, as of the date of this
Agreement, neither Kinderhook nor any of its Subsidiaries, nor any of their respective assets, businesses or operations, is a party
to, or is bound or affected by, or receives benefits under, (A)&nbsp;any Contract relating to the borrowing of money by Kinderhook
or any of its Subsidiaries or the guarantee by Kinderhook or any of its Subsidiaries of any such obligation (other than Contracts
evidencing deposit liabilities, purchases of federal funds, fully-secured repurchase agreements, Federal Home Loan Bank advances
of Kinderhook Bank or Contracts pertaining to trade payables incurred in the ordinary course of business consistent with past practice),
(B)&nbsp;any Contract containing covenants that limit the ability of Kinderhook or any of its Affiliates (including, after the
Effective Time, Community or any of its Affiliates) to engage in any line of business or to compete in any line of business or
with any Person, or that involve any restriction of the geographic area in which, or method by which, Kinderhook or any of its
Subsidiaries or Affiliates (including, after the Effective Time, Community or any of its Affiliates) may carry on its business,
(C)&nbsp;any Contract or series of related Contracts for the purchase of materials, supplies, goods, services, equipment or other
assets that (x)&nbsp;provides for or is reasonably likely to require annual payments by Kinderhook or any of its Subsidiaries of
$50,000 or more or (y)&nbsp;have a term exceeding twelve (12) months in duration (except those entered into in the ordinary course
of business consistent with past practice with respect to Loans, lines of credit, letters of credit, depositor agreements, certificates
of deposit and similar routine banking activities), (D)&nbsp;any Contract between or among Kinderhook or any of its Subsidiaries
or Affiliates, (E)&nbsp;any Contract involving Intellectual Property (excluding generally commercially available &ldquo;off the
shelf&rdquo; software programs licensed pursuant to &ldquo;shrink wrap&rdquo; or &ldquo;click and accept&rdquo; licenses), (F)&nbsp;any
Contract relating to the provision of data processing, network communications or other technical services to or by Kinderhook or
any of its Subsidiaries, (G)&nbsp;any Contract with respect to the formation, creation, operation, management or control of a joint
venture, partnership, limited liability company or other similar arrangement or agreement, (H)&nbsp;any Contract that provides
any rights to investors in Kinderhook, including registration, preemptive or anti-dilution rights or rights to designate members
of or observers to the Kinderhook Board of Directors, (I)&nbsp;any Contract that provides for potential material indemnification
payments by Kinderhook or any of its Subsidiaries, (J)&nbsp;any Contract or understanding with a labor union, in each case whether
written or oral, (K)&nbsp;any Contract that grants any right of first refusal, right of first offer or similar right with respect
to any material assets, rights or properties of Kinderhook or its Subsidiaries, (L)&nbsp;any Contract which is a merger agreement,
asset purchase agreement, stock purchase agreement, deposit assumption agreement, loss sharing agreement or other commitment to
a Governmental Authority in connection with the acquisition of a depository institution, or similar agreement that has indemnification
earn-out or other obligations that continue in effect after the date of this Agreement or (M)&nbsp;any other Contract or amendment
thereto that would be required to be filed as an exhibit to any SEC report (as described in Items&nbsp;601(b)(4) and 601(b)(10)
of Regulation S-K) if Kinderhook were required to file such with the SEC. With respect to each Contract described above: (w)&nbsp;the
Contract is valid and binding on Kinderhook or the applicable Subsidiary party thereto and, to the Knowledge of Kinderhook, each
other party thereto and is in full force and effect, enforceable in accordance with its terms (except in all cases as such enforceability
may be limited by (1)&nbsp;bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship and other Laws now
or hereafter in effect relating to or affecting the enforcement of creditors&rsquo; rights generally and (2)&nbsp;general equitable
principles and except that the availability of the equitable remedy of specific performance or injunctive relief is subject to
the discretion of the court before which any proceeding may be brought); (x)&nbsp;neither Kinderhook nor any of its Subsidiaries
is in Default thereunder; (y)&nbsp;neither Kinderhook nor any of its Subsidiaries has repudiated or waived any material provision
of any such Contract; and (z)&nbsp;no other party to any such Contract is, to the Knowledge of Kinderhook, in Default in any material
respect or has repudiated or waived any material provision of any such Contract. No Consent is required by any such Contract for
the execution, delivery or performance of this Agreement or the Bank Merger Agreement or the consummation of the Merger or the
Bank Merger or the other transactions contemplated hereby or thereby. All indebtedness for money borrowed of Kinderhook and its
Subsidiaries is prepayable without penalty or premium.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
interest rate swaps, caps, floors, collars, option agreements, futures, and forward contracts, and other similar risk management
arrangements, Contracts or agreements, whether entered into for Kinderhook&rsquo;s own account or for the account of one or more
of its Subsidiaries or their respective customers, were entered into (A)&nbsp;in the ordinary course of business consistent with
past practice and in accordance with prudent business practices and all applicable Laws and (B)&nbsp;with counterparties believed
to be financially responsible, and each of them is enforceable in accordance with its terms (except in all cases as such enforceability
may be limited by (1)&nbsp;bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship and other Laws now
or hereafter in effect relating to or affecting the enforcement of creditors&rsquo; rights generally and (2)&nbsp;general equitable
principles and except that the availability of the equitable remedy of specific performance or injunctive relief is subject to
the discretion of the court before which any proceeding may be brought), and is in full force and effect. Neither Kinderhook nor
any of its Subsidiaries, nor to the Knowledge of Kinderhook, any other party thereto, is in Default of any of its obligations under
any such agreement or arrangement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legal
Proceedings</U>. There is no material Litigation pending or, to the Knowledge of Kinderhook, threatened against or involving Kinderhook
or any of its Subsidiaries or its or any of its Subsidiaries&rsquo; assets, interests or rights, nor are there any Orders of any
Governmental Authority outstanding against Kinderhook or any of its Subsidiaries, nor do any facts or circumstances exist that
would be likely to form the basis for any material claim against Kinderhook or any of its Subsidiaries. There is no material Litigation
pending or, to the Knowledge of Kinderhook, threatened, against or involving any officer, director, advisory director or employee
of Kinderhook or its Subsidiaries, in each case by reason of any person being or having been an officer, director, advisory director
or employee of Kinderhook or its Subsidiaries.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Intellectual
Property</U>. (i)&nbsp;&nbsp;Either Kinderhook or one of its Subsidiaries owns, or is licensed or otherwise possesses legally enforceable
rights to use, all Intellectual Property (including the Technology Systems) that is used by Kinderhook or its Subsidiaries in its
or its Subsidiaries&rsquo; business. Neither Kinderhook nor any of its Subsidiaries has (A)&nbsp;licensed to any Person in source
code form any Intellectual Property owned by Kinderhook or any of its Subsidiaries or (B)&nbsp;entered into any exclusive agreements
relating to Intellectual Property owned by Kinderhook or its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3.2(m)(ii)
of the Kinderhook Disclosure Letter lists all patents and patent applications, all registered and unregistered trademarks and applications
therefor, trade names and service marks, registered copyrights and applications therefor, domain names, web sites and mask works
owned by or exclusively licensed to Kinderhook or its Subsidiaries included in its Intellectual Property, including the jurisdictions
in which each such Intellectual Property right has been issued or registered or in which any application for such issuance and
registration has been filed. Except as, individually or in the aggregate, has not had and would not reasonably be expected to have
a Material Adverse Effect on Kinderhook, no royalties or other continuing payment obligations are due in respect of any third-party
patents, trademarks or copyrights, including software.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
patents, registered trademarks, service marks and copyrights held by Kinderhook and its Subsidiaries are valid and subsisting.
Since December&nbsp;31, 2015, neither Kinderhook nor any of its Subsidiaries (A)&nbsp;has been sued in any Litigation which involves
a claim of infringement of any patents, trademarks, service marks, copyrights or violation of any trade secret or other proprietary
right of any third party or (B)&nbsp;has brought any Litigation for infringement of its Intellectual Property or breach of any
license or other Contract involving its Intellectual Property against any third party.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Loan
and Investment Portfolios</U>. (i)&nbsp;&nbsp;All loans, loan agreements, notes or borrowing arrangements (including leases, lines
of credit, extensions of credit, credit enhancements, commitments, guarantees, loan participations, promissory notes, loan commitments
and interest-bearing assets) (collectively, &ldquo;<U>Loans</U>&rdquo;) in which Kinderhook or any of its Subsidiaries is the creditor
(A)&nbsp;were at the time and under the circumstances in which made, made for good, valuable and adequate consideration in the
ordinary course of business of Kinderhook and its Subsidiaries and are the legal, valid and binding obligations of the obligors
thereof, enforceable in accordance with their terms, (B) are evidenced by notes, agreements or other evidences of indebtedness
that are true, genuine and what they purport to be, (C)&nbsp;to the extent secured, have been secured by valid Liens that have
been perfected and (D) are not the subject of any written notice from an obligor asserting any defense, set-off or counterclaim
with respect thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;True
and complete lists of all Loans as of December&nbsp;31, 2018 and on a monthly basis thereafter, and of the investment portfolios
of Kinderhook and each of its Subsidiaries as of such date, are disclosed in Section&nbsp;3.2(n)(ii) of the Kinderhook Disclosure
Letter. Except as specifically set forth in Section&nbsp;3.2(n)(ii) of the Kinderhook Disclosure Letter, neither Kinderhook nor
any of its Subsidiaries is a party to any Loan that, as of the most recent month-end prior to the date of this Agreement, (A)&nbsp;was
delinquent by more than thirty (30) days in the payment of principal and/or interest, (B)&nbsp;to the Knowledge of Kinderhook,
was otherwise in material default for more than thirty (30) days, (C)&nbsp;was on non accrual status or classified as &ldquo;substandard,&rdquo;
&ldquo;doubtful,&rdquo; &ldquo;loss,&rdquo; &ldquo;other assets specially mentioned,&rdquo; &ldquo;special mention,&rdquo; &ldquo;criticized,&rdquo;
&ldquo;classified,&rdquo; &ldquo;watch list&rdquo; or any comparable classification, (D)&nbsp;was an obligation of any director,
executive officer or five percent (5%) shareholder of Kinderhook or any of its Subsidiaries who is subject to Regulation O of the
Federal Reserve Board (12 C.F.R. Part 215), or any Person controlling, controlled by or under common control with any of the foregoing,
(E)&nbsp;was in violation of any Law, (F)&nbsp;has had its respective terms to maturity accelerated or with respect to which Kinderhook
or any Subsidiary of Kinderhook has notified the borrower of its intention to accelerate the Loan or declare a default, (G)&nbsp;has
been terminated or amended by Kinderhook or any Subsidiary of Kinderhook during the past twelve (12) months by reason of a default
or adverse developments in the condition of the borrower or other events or circumstances affecting the credit of the borrower,
(H)&nbsp;has a borrower, customer or other party to such Loan which has notified Kinderhook or any Subsidiary of Kinderhook during
the past twelve (12) months of, or has asserted against Kinderhook, orally or in writing, any &ldquo;lender liability&rdquo; or
similar claim, (I)&nbsp;has, during the past two (2) years, had its interest rate terms reduced and/or the maturity dates extended
subsequent to the agreement under which the Loan was originally created due to concerns regarding the borrower&rsquo;s ability
to pay in accordance with such initial terms, (J)&nbsp;in connection therewith, has a specific reserve allocation, or (K)&nbsp;was
classified by Kinderhook as &ldquo;other real estate owned,&rdquo; including all other assets currently held that were acquired
through foreclosure or in lieu of foreclosure (such Loans described in clauses&nbsp;(A) through (K), &ldquo;<U>Delinquent Loans</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
outstanding Loan (including Loans held for resale to investors) in which Kinderhook or any of its Subsidiaries is the creditor
was solicited and originated, and is and has been administered and, where applicable, serviced, and the relevant loan or other
similar files are being maintained, in all material respects, in accordance with the relevant notes or other credit or security
documents, the written underwriting standards of Kinderhook and its Subsidiaries (and, in the case of Loans held for resale to
investors, the underwriting standards, if any, of the applicable investors) and with all applicable federal, state and local Laws.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None
of the agreements pursuant to which Kinderhook or any of its Subsidiaries has sold Loans or pools of Loans or participations in
Loans or pools of Loans contains any obligation to repurchase such Loans or interests therein solely on account of a payment default
by the obligor on any such Loan, and neither Kinderhook nor any of its Subsidiaries has received written notice of any pending
claim for it to repurchase Loans or interests therein.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its Subsidiaries is now nor has it ever been since December&nbsp;31, 2015, subject to any material fine,
suspension, settlement or other Contract or other administrative agreement or sanction by, or any reduction in any loan purchase
commitment from, any Governmental Authority or Regulatory Authority relating to the origination, sale or servicing of mortgage
or consumer Loans.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Adequacy
of Allowances for Losses</U>. Each of the allowances for losses on Loans and other real estate included on the balance sheet as
of September&nbsp;30, 2018 included in the Kinderhook Financial Statements is adequate in accordance with applicable regulatory
guidelines and GAAP in all material respects, and, to the Knowledge of Kinderhook, there are no facts or circumstances that are
likely to require in accordance with applicable regulatory guidelines or GAAP a future material increase in any such provisions
for losses or a material decrease in any of the allowances therefor (specifically excluding changes in accounting or regulatory
standards that may impact the allowance, including but not limited to CECL requirements). Each of the allowances for losses on
Loans and other real estate reflected on the books of Kinderhook and its Subsidiaries at all times from and after the date of the
balance sheet included in the Kinderhook Financial Statements as of September&nbsp;30, 2018 is adequate in accordance with applicable
regulatory guidelines and GAAP in all material respects, and, to the Knowledge of Kinderhook, there are no facts or circumstances
(specifically excluding changes in accounting or regulatory standards that may impact the allowance, including but not limited
to CECL requirements) that are likely to require, in accordance with applicable regulatory guidelines or GAAP, a future material
increase in any of such provisions for losses or a material decrease in any of the allowances therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Community
Reinvestment Act</U>. Kinderhook Bank is in compliance in all material respects with the provisions of the Community Reinvestment
Act of 1977 (&ldquo;<U>CRA</U>&rdquo;) and the rules and regulations thereunder, has received a CRA rating of not less than &ldquo;satisfactory&rdquo;
in its most recently completed exam, has received no material criticism from regulators with respect to discriminatory lending
practices, and to the Knowledge of Kinderhook, there are no conditions, facts or circumstances that could result in a CRA rating
of less than &ldquo;satisfactory&rdquo; or material criticism from regulators or consumers with respect to discriminatory lending
practices.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Privacy
of Customer Information</U>. (i)&nbsp;&nbsp;Kinderhook and its Subsidiaries, as applicable, are the sole owners of all personally
identifiable financial information (&ldquo;<U>PIFI</U>&rdquo;) relating to customers, former customers and prospective customers
that will be transferred to Community or a Subsidiary of Community pursuant to this Agreement and the Bank Merger Agreement and
the other transactions contemplated hereby. For purposes of this <U>Section&nbsp;3.2(q)</U>, &ldquo;<U>PIFI</U>&rdquo; means any
information relating to an identified or identifiable natural person, including, but not limited to &ldquo;personally identifiable
financial information&rdquo; as that term is defined in 12 C.F.R. Part 1016.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
and its Subsidiaries&rsquo; collection and use of such PIFI, the transfer of such PIFI to Community or any of its Subsidiaries,
and the use of such PIFI by Community or any of its Subsidiaries complies in all material respects with all applicable privacy
policies, the Fair Credit Reporting Act, the Gramm-Leach-Bliley Act and all other applicable state, federal and foreign privacy
Laws, and any contract or industry standard relating to privacy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Technology
Systems</U>. (i)&nbsp;&nbsp;Except as set forth in Section&nbsp;3.2(r) of the Kinderhook Disclosure Letter, no action will be necessary
as a result of the transactions contemplated by this Agreement to enable use of the Technology Systems to continue following the
Effective Time to the same extent and in the same manner that it has been used by Kinderhook and its Subsidiaries prior to the
Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Technology Systems (for a period of eighteen (18) months prior to the Effective Time) have not suffered unplanned disruption causing
a Material Adverse Effect on Kinderhook. Except for ongoing payments due under Contracts with third parties, the Technology Systems
are free from any Liens (other than Permitted Liens). Access to business-critical parts of the Technology Systems is not shared
with any third party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
has furnished to Community a true and correct copy of Kinderhook&rsquo;s disaster recovery and business continuity arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Kinderhook nor any of its Subsidiaries has received notice of or is aware of any material circumstances, including the execution
of this Agreement or the Bank Merger Agreement or the consummation of the transactions contemplated hereby or thereby, that would
enable any third party to terminate any of Kinderhook&rsquo;s or any of its Subsidiaries&rsquo; agreements or arrangements relating
to the Technology Systems (including maintenance and support).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Insurance
Policies</U>. Kinderhook and each of its Subsidiaries maintains in full force and effect insurance policies and bonds in such amounts
and against such liabilities and hazards of the types and amounts as (i)&nbsp;it reasonably believes to be adequate for its business
and operations and the value of its properties and (ii) are comparable to those maintained by other banking organizations of similar
size and complexity. Section&nbsp;3.2(s) of the Kinderhook Disclosure Letter sets forth a true and complete list of all such insurance
policies. Neither Kinderhook nor any of its Subsidiaries is now liable for, nor has any such member received notice of, any material
retroactive premium adjustment. Kinderhook and its Subsidiaries are in compliance in all material respects with their insurance
policies and are not in Default under any of the terms thereof, each such policy is in full force and effect, none of Kinderhook
or any of its Subsidiaries has received any notice of a material premium increase or involuntary cancellation with respect to any
of its insurance policies or bonds and, except for policies insuring against potential liabilities of officers, directors and employees
of Kinderhook and its Subsidiaries, Kinderhook or one of its Subsidiaries is the sole beneficiary of any such policy, and all premiums
and other payments due under any such policy have been paid, and all claims thereunder have been filed in due and timely fashion.
Within the last three (3) years, none of Kinderhook or any of its Subsidiaries has been refused any basic insurance coverage sought
or applied for (other than certain exclusions for coverage of certain events or circumstances as stated in such policies), and
Kinderhook has no reason to believe that its existing insurance coverage cannot be renewed as and when the same shall expire, upon
terms and conditions standard in the market at the time renewal is sought as favorable as those presently in effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Corporate
Documents</U>. Kinderhook has delivered to Community, with respect to Kinderhook and each of its Subsidiaries, true and correct
copies of its Organizational Documents, and the charters of each of the committees of its Board of Directors, all as amended and
currently in effect. All of the foregoing are current, complete and correct in all material respects.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>State
Takeover Laws</U>. Kinderhook has taken all action required to be taken by it in order to exempt this Agreement and the transactions
contemplated hereby from, and this Agreement and the transactions contemplated hereby are exempt from, the requirements of any
&ldquo;moratorium,&rdquo; &ldquo;control share,&rdquo; &ldquo;fair price,&rdquo; &ldquo;affiliate transaction,&rdquo; &ldquo;anti-greenmail,&rdquo;
&ldquo;business combination&rdquo; or other anti-takeover Law of any jurisdiction (collectively, &ldquo;<U>Takeover Laws</U>&rdquo;).
Kinderhook has taken all action required to be taken by it in order to make this Agreement and the transactions contemplated hereby
comply with, and this Agreement and the transactions contemplated hereby do comply with, the requirements of any provisions of
its Organizational Documents concerning &ldquo;business combination,&rdquo; &ldquo;fair price,&rdquo; &ldquo;voting requirement,&rdquo;
&ldquo;constituency requirement&rdquo; or other related provisions.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Actions</U>. Neither Kinderhook nor any of its Subsidiaries or Affiliates has taken or agreed to take any action, and to the Knowledge
of Kinderhook, there are no facts or circumstances that are reasonably likely to materially impede or delay receipt of any Requisite
Regulatory Approval. To the Knowledge of Kinderhook, there exists no fact, circumstance, or reason that would cause any Requisite
Regulatory Approval not to be received in a timely manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Real
Property</U>. Except as would not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect
on Kinderhook, (a)&nbsp;Kinderhook or a Subsidiary of Kinderhook has good and marketable title to all the real property reflected
in the latest audited balance sheet included in the Kinderhook Financial Statements as being owned by Kinderhook or a Subsidiary
of Kinderhook or acquired after the date thereof (except properties sold or otherwise disposed of since the date thereof in the
ordinary course of business consistent with past practice) (the &ldquo;<U>Kinderhook Owned Properties</U>&rdquo;), free and clear
of all Liens, except (i)&nbsp;Liens for current Taxes and assessments not yet past due or the amount or validity of which is being
contested in good faith by appropriate proceedings, (ii)&nbsp;Liens for real property Taxes not yet due and payable, (iii)&nbsp;easements,
rights of way, and other similar encumbrances, (iv)&nbsp;mechanics&rsquo;, workmen&rsquo;s, repairmen&rsquo;s, warehousemen&rsquo;s
and carrier&rsquo;s Liens arising in the ordinary course of business of Kinderhook consistent with past practice, (v) restrictions
on transfers under applicable Securities Laws, or (vi) such imperfections or irregularities of title or Liens as do not materially
affect the value or use of the properties or assets subject thereto or affected thereby or otherwise materially impair business
operations at such properties (clauses&nbsp;(i) through (v), collectively, &ldquo;<U>Permitted Liens</U>&rdquo;), and (b) is the
lessee of all leasehold estates reflected in the latest audited financial statements included in such Kinderhook Financial Statements
or acquired after the date thereof (except for leases that have expired by their terms since the date thereof) (collectively with
the Kinderhook Owned Properties, the &ldquo;<U>Kinderhook Real Property</U>&rdquo;), free and clear of all Liens of any nature
whatsoever, except for Permitted Liens, and is in possession of the properties purported to be leased thereunder, and each such
lease is valid without Default thereunder by the lessee or, to the Knowledge of Kinderhook, the lessor, and Kinderhook or a Subsidiary
of Kinderhook has the right under such valid and existing leases to occupy or use all of such Kinderhook Real Property as presently
occupied and used by Kinderhook or such Subsidiary. There are no pending or, to the Knowledge of Kinderhook, threatened condemnation
proceedings against the Kinderhook Real Property. Kinderhook has previously made available to Community a true and complete list
of all Kinderhook Real Property as of the date of this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Administration
of Trust Accounts</U>. Kinderhook and each of its Subsidiaries have properly administered all common trust funds and collective
investment funds and all accounts for which each of them acts as a fiduciary or agent, including but not limited to accounts for
which it serves as a trustee, agent, custodian, personal representative, guardian, conservator or investment advisor, in accordance
in all material respects with the terms of the governing documents and applicable Law. Neither Kinderhook nor any of its Subsidiaries,
nor any of their respective directors, officers or employees acting on behalf of Kinderhook or any of its Subsidiaries, has committed
any breach of trust with respect to any such common trust fund or collective investment fund or fiduciary or agency account, and
the accountings for each such common trust fund or collective investment fund or fiduciary or agency account are true and correct
in all material respects and accurately reflect the assets of such common trust fund or collective investment fund or fiduciary
or agency account.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Brokers
and Finders</U>. Except as set forth in Section&nbsp;3.2(y) of the Kinderhook Disclosure Letter, neither Kinderhook nor any of
its Subsidiaries, nor any of their respective directors, officers, employees or Representatives, has employed any broker or finder
or incurred any Liability for any financial advisory fees, investment bankers&rsquo; fees, brokerage fees, commissions or finders&rsquo;
fees in connection with this Agreement or the transactions contemplated hereby. A true and complete copy of the engagement letter(s)
between Kinderhook and its broker, finders or investment advisors has been delivered to Community.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fairness
Opinion</U>. Prior to the execution of this Agreement, Kinderhook has received an executed opinion of the party identified on Section&nbsp;3.2(z)
of the Kinderhook Disclosure Letter to the effect that as of the date thereof and based upon and subject to the matters set forth
therein, the Merger Consideration is fair, from a financial point of view, to the shareholders of Kinderhook and a signed copy
of such opinion has been delivered to Community. Such opinion has not been amended or rescinded as of the date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(aa)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transactions
with Insiders and Affiliates</U>. Except as disclosed in Section&nbsp;3.2(aa) of the Kinderhook Disclosure Letter, there are no
agreements, Contracts, plans, arrangements or other transactions, nor are there any currently proposed transaction or series of
related transactions, between Kinderhook or any of its Subsidiaries, on the one hand, and any (1)&nbsp;officer or director of Kinderhook
or any of its Subsidiaries, (2)&nbsp;record or beneficial owner of five percent (5%) or more of the voting securities of Kinderhook
or (3)&nbsp;related interest or family member of any such officer, director or record or beneficial owner, in any case other than
bank customer relationships, employment and related agreements, employee benefit plans and bank-owned life insurance policies.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(bb)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Information</U>. When the Proxy Statement or any amendment thereto shall be disseminated to the Kinderhook Shareholders, and at
all times subsequent to such dissemination up to and including the time of the Kinderhook Shareholder Meeting to vote upon the
adoption of this Agreement, such Proxy Statement and all amendments or supplements thereto, with respect to all information set
forth or incorporated by reference therein furnished by Kinderhook relating to Kinderhook or any of its Subsidiaries, (i)&nbsp;shall
comply in all material respects with the applicable provisions of the Securities Laws, and (ii)&nbsp;shall not contain any untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
contained therein, in the light of the circumstances under which they were made, not misleading. All information concerning Kinderhook
and its directors, officers, and shareholders included (or submitted for inclusion) in any application and furnished by it pursuant
to <U>Section&nbsp;4.5</U> or <U>4.7</U> of this Agreement shall be true, correct and complete in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(cc)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investment
Securities</U>. (i)&nbsp;&nbsp;Except for pledges to secure public and trust deposits, Federal Reserve borrowings, repurchase agreements
and reverse repurchase agreements entered into in arms&rsquo;-length transactions pursuant to normal commercial terms and conditions
and other pledges required by Law, none of the investments reflected in the Kinderhook Financial Statements, and none of the material
investments made by Kinderhook or any of its Subsidiaries since September&nbsp;30, 2018, is subject to any restriction (contractual,
statutory or otherwise) that would materially impair the ability of the entity holding such investment freely to dispose of such
investment at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of Kinderhook and its Subsidiaries has good title in all material respects to all securities and commodities owned by it (except
those sold under repurchase agreements), free and clear of any Lien, except as set forth in the financial statements included in
the Kinderhook Reports or to the extent such securities or commodities are pledged in the ordinary course of business consistent
with past practice to secure obligations of Kinderhook or its Subsidiaries. Such securities and commodities are valued on the books
of Kinderhook in accordance with GAAP in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
and its Subsidiaries and their respective businesses employ investment, securities, commodities, risk management and other policies,
practices and procedures that Kinderhook believes are prudent and reasonable in the context of such businesses and Kinderhook and
its Subsidiaries have, since December&nbsp;31, 2015, been in compliance in all material respects with such policies, practices
and procedures. Prior to the date of this Agreement, Kinderhook has made available to Community the material terms of such policies,
practices and procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(dd)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Ownership
of Community Common Stock</U>. Neither Kinderhook, any Subsidiary of Kinderhook nor, to the Knowledge of Kinderhook, any director
or officer of Kinderhook or of any Subsidiary of Kinderhook, beneficially owns or, within the past two (2) years has beneficially
owned, in the aggregate three percent (3%) or more of the outstanding shares of Community Common Stock.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Representations
and Warranties of</U></FONT><U> Community <FONT STYLE="font-family: Times New Roman, Times, Serif">and Merger Sub</FONT></U>. Subject
to and giving effect to <U>Section&nbsp;3.1</U> and except as (i)&nbsp;set forth in the Community Disclosure Letter or (ii)&nbsp;disclosed
in any of Community&rsquo;s SEC Reports filed with or furnished to the SEC on or after December&nbsp;31, 2017 and prior to the
date of this Agreement (but excluding any risk factor disclosures contained under the heading &ldquo;Risk Factors&rdquo;, any disclosure
of risks included in any &ldquo;forward-looking statements&rdquo; disclaimer or any other statements that are similarly forward-looking
in nature), Community and Merger Sub hereby represent and warrant to Kinderhook as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization,
Standing, and Power</U>. Community and each of its Subsidiaries (including Merger Sub) (i) are duly organized, validly existing
and in good standing under the Laws of the jurisdiction of their respective organization, (ii)&nbsp;have the requisite corporate
power and authority to own, lease and operate their properties and assets and to carry on their businesses as now conducted, and
(iii) are duly qualified or licensed to do business and in good standing in the States of the United States and foreign jurisdictions
where the character of their assets or the nature or conduct of their business requires them to be so qualified or licensed, except
in the case of this clause&nbsp;(iii), where the failure to be so qualified or licensed, individually or in the aggregate, has
not had and would not reasonably be expected to have a Material Adverse Effect on Community. Community is registered with the Federal
Reserve Board as a bank holding company within the meaning of the BHC Act and meets the applicable requirements to be treated as
a financial holding company under the BHC Act. Community Bank is a national banking association with its main office located in
the State of New York. Community Bank is an &ldquo;insured depository institution&rdquo; as defined in the Federal Deposit Insurance
Act and applicable regulations thereunder, its deposits are insured by the FDIC through the Deposit Insurance Fund to the fullest
extent permitted by Law, and all insurance premiums and assessments required to be paid in connection therewith have been paid
when due. No action for the revocation or termination of such deposit insurance is pending or, to the Knowledge of Community, threatened.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authority;
No Breach of Agreement</U>. (i)&nbsp;&nbsp;Each of Community and Merger Sub has the corporate power and authority necessary to
execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby. Assuming
the accuracy of the representations and warranties set forth in Section&nbsp;3.2(dd), the execution, delivery and performance of
this Agreement, and the consummation of the transactions contemplated hereby have been duly and validly authorized by all necessary
corporate action (including valid authorization and adoption of this Agreement by Community&rsquo;s duly constituted Board of Directors).
Assuming due authorization, execution and delivery of this Agreement by Kinderhook, this Agreement represents a legal, valid and
binding obligation of each of Community and Merger Sub, enforceable against Community and Merger Sub, respectively, in accordance
with its terms (except in all cases as such enforceability may be limited by (A)&nbsp;bankruptcy, insolvency, reorganization, moratorium,
receivership, conservatorship and other Laws now or hereafter in effect relating to or affecting the enforcement of creditors&rsquo;
rights generally and (B)&nbsp;general equitable principles, except that the availability of the equitable remedy of specific performance
or injunctive relief is subject to the discretion of the court before which any proceeding may be brought).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of Community&rsquo;s and Merger Sub&rsquo;s Boards of Directors has duly approved and declared advisable this Agreement and the
Merger and the other transactions contemplated hereby, including the Bank Merger Agreement and the Bank Merger. Community Bank&rsquo;s
Board of Directors has duly approved and declared advisable the Bank Merger Agreement, the Bank Merger and the other transactions
contemplated hereby and thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the execution and delivery of this Agreement or the Bank Merger Agreement by Community, Merger Sub or Community Bank, as applicable,
nor the consummation by any of them of the transactions contemplated hereby, nor compliance by them with any of the provisions
hereof, will (A)&nbsp;violate, conflict with or result in a breach of any provision of the Organizational Documents of Community,
Merger Sub or Community Bank, (B)&nbsp;violate, conflict with, result in a breach of any provision of or the loss of any benefit
under, constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, result
in the termination of or a right of termination or cancellation under, accelerate the performance required by, or result in the
creation of any Lien (other than Permitted Liens) upon any of the respective properties or assets of Community or any of its Subsidiaries
(including Merger Sub) under, any of the terms, conditions or provisions of any note, bond, mortgage, indenture, deed of trust,
license, lease, Contract, Permit or other instrument or obligation to which Community or any of its Subsidiaries (including Merger
Sub) is a party, or by which they or any of their respective properties or assets may be bound, or (C) subject to receipt of the
Requisite Regulatory Approvals and the expiration of any waiting period required by Law as described in clause&nbsp;(iv) below,
violate any Law or Order applicable to Community, Merger Sub or Community Bank or any of their respective material assets, except,
in the case of clauses&nbsp;(B) and (C), as individually or in the aggregate, has not had and would not reasonably be expected
to have a material adverse effect on the ability of Community or Merger Sub to perform their respective obligations under this
Agreement or to timely consummate the Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
for (A)&nbsp;the filing of applications, filings and notices, as applicable, with the Federal Reserve Board under the BHC Act and
approval of such applications, filings and notices, (B)&nbsp;the filing of applications, filings and notices, as applicable, with
the OCC in connection with the Bank Merger, including under the Bank Merger Act, and approval of such applications, notices and
filings, (C)&nbsp;the filing of any required applications, notices or filings with any state banking authorities listed on Section&nbsp;3.3(b)(iv)(C)
of the Community Disclosure Letter or Section&nbsp;3.2(b)(vi)(C) of the Kinderhook Disclosure Letter and approval of such applications,
notices or filings, (D)&nbsp;the filing of the Certificate of Merger with the New York Secretary pursuant to the NYBCL and (E)&nbsp;as
otherwise set forth in Section&nbsp;3.3(b)(iv)(E) of the Community Disclosure Letter, no Order of, or Consent of, to or with any
Governmental Authority or other third party is necessary in connection with the execution, delivery or performance of this Agreement
or the Bank Merger Agreement by Community, Merger Sub or Community Bank, as applicable, or the consummation by Community, Merger
Sub or Community Bank, as applicable, of the Merger, the Bank Merger and the other transactions contemplated by this Agreement
and the Bank Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legal
Proceedings</U>. There is no Litigation pending or, to the Knowledge of Community, threatened against Community or any of its Subsidiaries
(including Merger Sub) or its or any of its Subsidiaries&rsquo; (including Merger Sub&rsquo;s) assets, interests or rights, nor
are there any Orders of any Governmental Authority outstanding against Community or any of its Subsidiaries (including Merger Sub),
nor do any facts or circumstances exist that would be likely to form the basis for any material claim against Community or any
of its Subsidiaries (including Merger Sub) that, if adversely determined, individually or in the aggregate, would reasonably be
expected to have a material adverse effect on the ability of Community or Merger Sub to perform their respective obligations under
this Agreement or to timely consummate the Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Actions</U>. Neither Community nor any of its Subsidiaries (including Merger Sub) or Affiliates has taken or agreed to take any
action, and to the Knowledge of Community, there are no facts or circumstances, that are reasonably likely to materially impede
or delay receipt of any Requisite Regulatory Approval. To Community&rsquo;s Knowledge there exists no fact, circumstance, or reason
that would cause any Requisite Regulatory Approval not to be received in a timely manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Prior Activities</U>. Except in connection with its incorporation or organization or the negotiation and consummation of this Agreement
and the transactions contemplated hereby, Merger Sub has not incurred any obligations or liabilities, and has not engaged in any
business or activities of any type or kind whatsoever or entered into any agreements or arrangements with any Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Brokers
and Finders</U>. Except for Loomis &amp; Co., Inc., neither Community nor any of its Subsidiaries, nor any of their respective
directors, officers, employees or Representatives, has employed any broker or finder or incurred any Liability for any financial
advisory fees, investment bankers&rsquo; fees, brokerage fees, commissions or finders&rsquo; fees in connection with this Agreement
or the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Merger
Consideration</U>. Community now has and will have, at the Effective Time, a sufficient amount of cash to pay the amounts contemplated
by <U>Article&nbsp;2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Information</U>. When the Proxy Statement or any amendment thereto shall be disseminated to the Kinderhook Shareholders, and at
all times subsequent to such dissemination up to and including the time of the Kinderhook Shareholder Meeting to vote upon the
adoption of this Agreement, such Proxy Statement and all amendments or supplements thereto, with respect to all information set
forth or incorporated by reference therein furnished by Community relating to Community or any of its Subsidiaries (including Merger
Sub), (i) shall comply in all material respects with the applicable provisions of the Securities Laws, and (ii) shall not contain
any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements contained therein, in the light of the circumstances under which they were made, not misleading. All information concerning
Community, Merger Sub and their respective directors, officers, and stockholders included (or submitted for inclusion) in any application
and furnished by it pursuant to <U>Section&nbsp;4.5</U> or <U>4.7</U> of this Agreement shall be true, correct and complete in
all material respects.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance
with Permits, Laws and Orders</U>. (i)&nbsp;&nbsp;Community and each of its Subsidiaries have in effect all material Permits and
have made all material filings, applications and registrations with Governmental Authorities that are required for them to own,
lease or operate their respective properties and assets and to carry on their respective businesses as now conducted (and have
paid all material fees and assessments due and payable in connection therewith) and there has occurred no Default under any material
Permit applicable to their respective businesses or employees conducting their respective businesses. (ii) Community and each of
its Subsidiaries are, and at all times since December&nbsp;31, 2015 have been, in compliance in all material respects with all
Laws applicable to their businesses, operations, properties or assets, including the Federal Reserve Act, the Equal Credit Opportunity
Act, the Fair Housing Act, the Community Reinvestment Act, the Home Mortgage Disclosure Act, the Uniting and Strengthening America
by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, the Bank Secrecy Act, the
Truth in Lending Act, the Fair Debt Collection Practices Act, the Electronic Fund Transfer Act, the Dodd-Frank Wall Street Reform
and Consumer Protection Act, the Fair Credit Reporting Act and all other applicable fair lending Laws and other Laws relating to
discriminatory business, financing, leasing, collection or other practices, and all agency requirements relating to the origination,
sale and servicing of mortgage loans and consumer loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Community nor any of its Subsidiaries has received any notification or communication from any Governmental Authority (A)&nbsp;asserting
that Community or any of its Subsidiaries is in Default under any of the Permits, Laws or Orders which such Governmental Authority
enforces, or (B)&nbsp;threatening or contemplating revocation or limitation of, or which would have the effect of revoking or limiting,
any Permits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Community nor any of its Subsidiaries is subject to any cease-and-desist or other order or formal enforcement action issued by,
or is a party to any formal written agreement, consent agreement or public memorandum of understanding with, or is a party to any
commitment letter or similar undertaking to, or is subject to any order or directive by, or has been ordered to pay any civil money
penalty by, or has been since December&nbsp;31, 2015, a recipient of any public supervisory letter from any Regulatory Authority
or other Governmental Authority that currently restricts in any material respect the conduct of its business or that in any material
manner relates to its capital adequacy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Community nor any of its Subsidiaries (nor to Community&rsquo;s Knowledge any of their respective directors, executives, Representatives,
agents or employees) (A)&nbsp;has used or is using any corporate funds for any illegal contribution, gift, entertainment or other
unlawful expense relating to political activity, (B)&nbsp;has used or is using any corporate funds for any direct or indirect unlawful
payment to any foreign or domestic government official or employee from corporate funds, (C)&nbsp;has violated or is violating
any Anti-Corruption Laws or (D)&nbsp;has made any bribe, unlawful rebate, payoff, influence payment, kickback or other unlawful
payment. Community and its Subsidiaries have established and maintain a system of internal controls designed to provide reasonable
assurances regarding compliance by Community and its Subsidiaries with all applicable Anti-Corruption Laws.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Community
and its Subsidiaries are and since December&nbsp;31, 2013 have been conducting operations at all times in compliance in all material
respects with the Anti-Money Laundering Laws. Community and its Subsidiaries have established and maintain a system of internal
controls designed to ensure compliance by Community and its Subsidiaries with applicable financial recordkeeping and reporting
requirements of the Anti-Money Laundering Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as required by the Bank Secrecy Act, to Community&rsquo;s Knowledge, no employee of Community or any of its Subsidiaries has provided
or is providing information to any law enforcement agency regarding the commission or possible commission of any crime or the violation
or possible violation of any applicable Law by Community or any of its Subsidiaries or any employee thereof acting in its capacity
as such. Neither Community nor any of its Subsidiaries nor any officer, employee, contractor, subcontractor or agent of Community
or any such Subsidiary has discharged, demoted, suspended, threatened, harassed or in any other manner discriminated against any
employee of Community or any of its Subsidiaries in the terms and conditions of employment because of any act of such employee
described in 18 U.S.C. Section&nbsp;1514A(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Community nor any of its Subsidiaries nor to the Knowledge of Community, any director, officer, agent, employee or any other Person
acting on behalf of Community or any of its Subsidiaries, is currently the subject or the target of Sanctions, nor is Community
or any of its Subsidiaries located, organized or resident in a Sanctioned Country. For the past five (5) years, Community and its
Subsidiaries have not knowingly engaged in, are not now knowingly engaged in and will not engage in, any dealings or transactions
with any Person that at the time of the dealing or transaction is or was the subject or the target of Sanctions or with any Sanctioned
Country. Community and its Subsidiaries have established and maintain a system of internal controls designed to provide reasonable
assurances regarding compliance by Community and its Subsidiaries with all applicable Sanctions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Labor
Matters</U>. (i)&nbsp;&nbsp;Neither Community nor any of its Subsidiaries is a party to or bound by or currently negotiating any
collective bargaining agreement or any other similar agreement with any labor organization, group or association. Since December
31, 2015, neither Community nor any its Subsidiaries has experienced any organizational campaign, petition or other unionization
activity relating to any Service Provider, including seeking to make Community or any of its Subsidiaries conform to demands of
organized labor or enter into any collective bargaining agreement or any other similar agreement with any labor organization, group
or association. There is no strike or work stoppage pending or, to the Knowledge of Community, threatened against Community or
any of its Subsidiaries. The consent or consultation of, or the rendering of formal advice by, any labor or trade union, works
council or other employee representative body is not required for Community to enter into this Agreement or to consummate any of
the transactions contemplated hereby.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
is no material unfair labor practice charge or other material Litigation regarding Service Providers against Community or any of
its Subsidiaries pending, or to the Knowledge of Community, threatened, before any court, arbitrator or Governmental Authority
(including the National Labor Relations Board). Neither Community nor any of its Subsidiaries has failed to comply with any collective
bargaining agreement or any other similar agreement with any labor organization, group or association and there are no grievances
pending, or to the Knowledge of Community, threatened, under any such agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: .5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Community
and its Subsidiaries are in compliance in all material respects with, and to the Knowledge of Community are not under investigation
with respect to, applicable Laws with respect to employment and employee matters, including employment practices, employee benefits,
labor relations, terms and conditions of employment, Tax withholding, discrimination, equal employment, fair employment practices,
immigration, employee classification, human rights, pay equity, workers&rsquo; compensation, employee safety and health, facility
closings and layoffs (including the Worker Adjustment and Retraining Notification Act of 1988.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Employee
Benefit Plans</U>. All Community Benefit Plans are being administered in all material respects in compliance with their terms and
with the applicable provisions of ERISA, the Code, the Patient Protection and Affordable Care Act (as amended) and all other applicable
Law. Each Community Benefit Plan that is intended to be qualified under Section 401(a) of the Code has received a favorable determination
letter, or has pending or has time remaining in which to file, an application for such determination from the IRS, and, to the
Knowledge of Community, there are no facts or circumstances that would reasonably be expected to cause any such determination letter
to be revoked or not be reissued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Community
Reinvestment Act</U>. Community Bank is in compliance in all material respects with the provisions of the CRA and the rules and
regulations thereunder, has received a CRA rating of not less than &ldquo;satisfactory&rdquo; in its most recently completed exam,
has received no material criticism from regulators with respect to discriminatory lending practices, and to the Knowledge of Community,
there are no conditions, facts or circumstances that could result in a CRA rating of less than &ldquo;satisfactory&rdquo; or material
criticism from regulators or consumers with respect to discriminatory lending practices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Privacy
of Customer Information</U>.<U></U>&nbsp;&nbsp;Community and its Subsidiaries&rsquo;
collection and use of PIFI and the use of such PIFI by Community or any of its Subsidiaries complies in all material respects with
all applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Insurance
Policies</U>. Except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect,
Community and each of its Subsidiaries maintains in full force and effect insurance policies and bonds in such amounts and against
such liabilities and hazards of the types and amounts as (i)&nbsp;it reasonably believes to be adequate for its business and operations
and the value of its properties and (ii) are comparable to those maintained by other banking organizations of similar size and
complexity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Actions</U>. Neither Community nor any of its Subsidiaries or Affiliates has taken or agreed to take any action, and to the Knowledge
of Community, there are no facts or circumstances that are reasonably likely to materially impede or delay receipt of any Requisite
Regulatory Approval. To the Knowledge of Community, there exists no fact, circumstance, or reason that would cause any Requisite
Regulatory Approval not to be received in a timely manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Article&nbsp;4</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Covenants
and Additional Agreements of the Parties</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Conduct
of Business Prior to Effective Time</U></FONT>. During the period from the date of this Agreement until the earlier of the termination
of this Agreement pursuant to <U>Article&nbsp;6</U> or the Effective Time, except as expressly permitted by this Agreement, as
required by applicable Law or as consented to in writing by Community (such consent not to be unreasonably withheld, conditioned
or delayed), (a)&nbsp;Kinderhook shall, and shall cause its Subsidiaries to, (i)&nbsp;conduct its business in the ordinary course
consistent with past practice, (ii)&nbsp;use reasonable best efforts to maintain and preserve intact its business organization,
employees and advantageous business relationships, and (iii)&nbsp;maintain its books, accounts and records in the usual manner
on a basis consistent with that heretofore employed, and (b)&nbsp;each Party shall, and shall cause its Subsidiaries to, take no
action that would adversely affect or delay the satisfaction of the conditions set forth in <U>Section&nbsp;5.1(a)</U> or <U>5.1(b)</U>
or the ability of any Party to perform its respective covenants and agreements under this Agreement or to consummate the transactions
contemplated hereby on a timely basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Forbearances</U></FONT>.
During the period from the date of this Agreement until the earlier of the termination of this Agreement pursuant to <U>Article&nbsp;6</U>
or the Effective Time, except as expressly permitted by this Agreement or as required by applicable Law, Kinderhook shall not,
and shall not permit any of its Subsidiaries to, without the prior written consent of Community (such consent not to be unreasonably
withheld, conditioned or delayed):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;amend
or propose to amend its Organizational Documents or any resolution or agreement concerning indemnification of its directors or
officers;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;adjust,
split, combine, subdivide or reclassify any capital stock, (ii)&nbsp;make, declare, set aside or pay any dividend or make any other
distribution on, or directly or indirectly redeem, purchase or otherwise acquire, any shares of its capital stock or any securities
or obligations convertible (whether currently convertible or convertible only after the passage of time or the occurrence of certain
events) into or exchangeable for any shares of its capital stock, other than (A)&nbsp;dividends paid by any of the Subsidiaries
of Kinderhook to Kinderhook or any of its wholly-owned Subsidiaries, (B) regular quarterly cash dividends by Kinderhook at a rate
not in excess of $0.25 per share of Kinderhook Common Stock with record and payment dates consistent with the comparable quarters
in the prior year, except that with the consent of Community, not to be unreasonably withheld, conditioned or delayed, Kinderhook
may adjust the declaration, record and/or payable dates with regard to Kinderhook&rsquo;s last dividend prior to the Effective
Time so that the amount of the final dividend prior to the Effective Time on Kinderhook Common Stock shall be adjusted to reflect
the normal dividend rate of $0.25 per share multiplied by the number of days that have elapsed in that calendar quarter prior to
Closing, divided by ninety (90), (C)&nbsp;dividends payable on the Kinderhook Preferred Stock in accordance with the terms of the
Kinderhook Charter, and (D)&nbsp;dividends payable on the trust preferred securities issued by Kinderhook and listed on Section&nbsp;4.16
of the Kinderhook Disclosure Letter in accordance with the terms of the applicable governing documents, (iii)&nbsp;grant or issue
any Rights, (iv) issue or otherwise permit to become outstanding, sell, pledge, dispose of, grant, transfer, lease, license, guarantee,
encumber, or authorize the issuance, sale, pledge, disposition, grant, transfer, lease, license, guarantee or encumbrance of, any
shares of its capital stock or Rights, other than issuances of Kinderhook Common Stock upon the exercise of Kinderhook Warrants
in existence on the date hereof pursuant to their terms or upon the conversion of shares of Kinderhook Preferred Stock outstanding
on the date hereof in accordance with the terms of the Kinderhook Charter, or (v)&nbsp;make any material change in any instrument
or Contract governing the terms of any of its securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;other
than in the ordinary course of business consistent with past practice (including by way of foreclosure or acquisitions of control
in a fiduciary or similar capacity or in satisfaction of debts previously contracted in good faith), make any material investment
(either by purchase of stock or securities, contributions to capital, property transfers, or purchase of any property or assets)
in any other Person other than a wholly-owned Subsidiary of Kinderhook;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;charge
off (except as may otherwise be required by Law or by Regulatory Authorities or by GAAP) or sell (except in the ordinary course
of business consistent with past practices) any of its portfolio of Loans;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;terminate
or allow to be terminated any of the policies of insurance it maintains on its business or property, cancel any material indebtedness
owing to it or any claims that it may have possessed, or waive any right of substantial value or discharge or satisfy any material
noncurrent Liability;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;enter
into any material new line of business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;except
in the ordinary course of business consistent with past practice: (i)&nbsp;lend any money or pledge any of its credit in connection
with any aspect of its business whether as a guarantor, surety, issuer of a letter of credit or otherwise; (ii)&nbsp;mortgage or
otherwise subject to any Lien, encumbrance or other Liability any of its assets; (iii)&nbsp;except for property held as other real
estate owned, sell, assign or transfer any of its assets in excess of $25,000 in the aggregate for Kinderhook and its Subsidiaries;
or (iv)&nbsp;incur any material Liability, commitment, indebtedness or obligation (of any kind whatsoever, whether absolute or
contingent), or cancel, release or assign any indebtedness of any Person or any claims against any Person, except pursuant to Contracts
in force as of the date of this Agreement and disclosed in Section&nbsp;3.2(k) of the Kinderhook Disclosure Letter or transfer,
agree to transfer or grant, or agree to grant, a license to, any of its material Intellectual Property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;other
than in the ordinary course of business consistent with past practice, incur any indebtedness for borrowed money (other than short-term
indebtedness incurred to refinance short-term indebtedness (it being understood that for purposes of this <U>Section&nbsp;4.2(h)</U>,
&ldquo;short-term&rdquo; shall mean maturities of six (6) months or less)); or assume, guarantee, endorse or otherwise as an accommodation
become responsible for the obligations of any Person;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;other
than purchases of investment securities in the ordinary course of business consistent with past practice, materially restructure
or materially change its investment securities portfolio or its gap position, through purchases, sales or otherwise, or the manner
in which the portfolio is classified or reported;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;except
in the ordinary course of business, terminate, materially amend or modify or waive any material provision of, any material Contract
other than any contract that terminates by its terms or normal renewals of Contracts without material adverse changes of terms,
or enter into any material Contract;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;other
than as required under applicable Law or by Kinderhook Benefit Plans as in effect at the date of this Agreement or as otherwise
listed in Section&nbsp;3.2(j)(i) of the Kinderhook Disclosure Letter, (i)&nbsp;adopt, enter into, establish, terminate, renew or
amend any Benefit Plan (or communicate any intention to take any such action), (ii)&nbsp;change the compensation or benefits of
any director, officer or other Service Provider with an annual base salary or wages that is reasonably anticipated to exceed $100,000
or, other than in the ordinary course of business consistent with past practice, of any other Service Provider, (iii)&nbsp;adopt,
enter into or amend any collective bargaining agreement or any other similar agreement with any labor organization, group or association,
(iv)&nbsp;adopt, enter into, establish, amend or grant any employment, severance, change in control, termination, deferred compensation,
pension or retirement arrangement, (v)&nbsp;grant or pay any equity awards or other incentive compensation, or pay any bonus or
incentive compensation under a pre-existing Kinderhook Benefit Plan in excess of the amount earned based on actual performance,
(vi)&nbsp;accelerate any rights or benefits under any Kinderhook Benefit Plan, including accelerating the vesting of, or the lapsing
of restrictions with respect to, any Kinderhook Restricted Shares or otherwise amend the terms of any outstanding SAR Rights, equity
awards or equity-based awards, (vii)&nbsp;pay any severance in excess of what is legally required, (viii)&nbsp;take any action
to fund or secure the payment of any amounts under any Kinderhook Benefit Plan, or change any assumptions used to calculate funding
or contribution obligations under any Kinderhook Benefit Plan, other than as required by GAAP, or (ix)&nbsp;hire or terminate (other
than for cause) any director, officer, or any other Service Provider with annual base salary or wages that is reasonably anticipated
to exceed $100,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;commence,
settle or agree to settle any Litigation, except in the ordinary course of business consistent with past practice that (i)&nbsp;involves
only the payment of money damages not in excess of $25,000 individually or $50,000 in the aggregate, (ii)&nbsp;does not involve
the imposition of any equitable relief on, or the admission of wrongdoing by, Kinderhook or the applicable Subsidiary thereof and
(iii)&nbsp;would not create precedent for claims that are reasonably likely to be material to Kinderhook or any of its Subsidiaries,
or, after the Closing, Community or any of its Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;materially
revalue any of its assets or change any method of accounting or accounting practice used by it, other than changes required by
GAAP or any Regulatory Authority;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;file
any Tax Return except in the ordinary course of business consistent with past practice or amend any Tax Return; (ii) settle or
compromise any Tax Liability; (iii)&nbsp;make, change or revoke any Tax election or change any method of Tax accounting, except
as required by applicable Law; (iv)&nbsp;enter into any &ldquo;closing agreement&rdquo; as described in Section&nbsp;7121 of the
Code (or any similar provision of state, local or foreign Law); (v) surrender any claim for a refund of Taxes; or (vi) consent
to any extension or waiver of the limitations period applicable to any claim or assessment with respect of Taxes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;change
its fiscal or Tax year;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;knowingly
take, or knowingly omit to take, any action that is reasonably likely to result in any of the conditions to the Merger set forth
in <U>Article&nbsp;5</U> not being satisfied; <U>provided</U>, that nothing in this <U>Section&nbsp;4.2(p)</U> shall preclude Kinderhook
from exercising its rights under <U>Section&nbsp;4.5</U> or <U>4.11</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;merge
or consolidate itself or its Subsidiaries with any other Person, or restructure, reorganize or completely or partially liquidate
or dissolve (or adopt or enter into a plan to effect any of the foregoing) itself or any of its Subsidiaries (other than mergers
or consolidations solely involving its Subsidiaries);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;acquire
assets outside of the ordinary course of business consistent with past practice from any other Person with a value or purchase
price in the aggregate in excess of $25,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;enter
into any Contract that would have been required to be disclosed in Section&nbsp;3.2(k) of the Kinderhook Disclosure Letter had
it been entered into prior to the execution of this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;make
any material changes in the mix, rates, terms or maturities of Kinderhook Bank&rsquo;s deposits or other Liabilities, except in
a manner and pursuant to policies consistent with past practice and competitive factors in the market place; open any new branch
or deposit taking facility; or close, relocate or materially renovate any existing branch or facility;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;make
any material changes in its policies and practices with respect to (i)&nbsp;underwriting, pricing, originating, acquiring, selling,
servicing or buying or selling rights to service, Loans or (ii)&nbsp;investment, risk and asset liability management or hedging
practices and policies, in each case except as may be required by such policies and practices or by any applicable laws, regulations,
guidelines or policies imposed by any Governmental Authority;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;make
any Loans, or enter into any commitments to make Loans, which vary other than in immaterial respects from its written Loan policies,
a true and correct copy of which policies has been provided to Community; provided, that this covenant shall not prohibit Kinderhook
Bank from extending or renewing Loans in the ordinary course of business consistent with past lending practices or in connection
with the workout or renegotiation of Loans currently in its Loan portfolio;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;renew
or enter into any non compete, exclusivity, non solicitation or similar agreement that would restrict or limit, in any material
respect, the operations of Kinderhook or any of its Subsidiaries or, after the Effective Time, Community or any of its Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;waive
any material benefits of, or agree to modify in any adverse respect, or fail to enforce, or consent to any matter with respect
to which its consent is required under, any confidentiality, standstill or similar agreement to which Kinderhook or any of its
Subsidiaries is a party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;engage
in (or modify in a manner adverse to Kinderhook or its Subsidiaries) any transactions (except for any ordinary course banking relationships
permitted under applicable Law) with any Affiliate or any director or officer thereof (or any Affiliate or immediate family member
of any such Person or any Affiliate of such Person&rsquo;s immediate family members);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;except
in the ordinary course of business consistent with past practice, enter into any new lease of real property or amend the terms
of any existing lease of real property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(aa)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;incur
or commit to incur any capital expenditure or authorization or commitment with respect to them that, in the aggregate is in excess
of $50,000, except as disclosed in the annual business plan or budget previously disclosed to Community; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(bb)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;agree
or commit to take any of the actions prohibited by this <U>Section&nbsp;4.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Litigation</U></FONT>.
Each of Community and Kinderhook shall promptly notify each other in writing of any Litigation issued, commenced, brought, conducted
or heard by or before, or otherwise involving, any Governmental Authority pending or, to the Knowledge of Community or Kinderhook,
as applicable, threatened against Community, Kinderhook or any of their respective Subsidiaries or directors that (a)&nbsp;questions
or would reasonably be expected to question the validity of this Agreement or the other agreements contemplated hereby or any actions
taken or to be taken by Community, Merger Sub, Kinderhook or their respective Subsidiaries with respect hereto or thereto, or (b)
seeks to enjoin or otherwise restrain the transactions contemplated hereby or thereby. Kinderhook shall give Community the opportunity
to participate in the defense or settlement of any shareholder or derivative Litigation against Kinderhook and/or its directors
relating to the transactions contemplated by this Agreement, and no such settlement shall be agreed to without Community&rsquo;s
prior written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>State
Filings</U></FONT>. Upon the terms and subject to the conditions of this Agreement and prior to or in connection with the Closing,
Merger Sub and Kinderhook shall execute and the Parties shall cause to be filed the Certificate of Merger with the New York Secretary
and any other such filings with the State of New York necessary to effect the transactions contemplated in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Preparation
of the Proxy Statement; </U></FONT><U>Kinderhook <FONT STYLE="font-family: Times New Roman, Times, Serif">Shareholder Approval</FONT></U>.
(a)&nbsp;&nbsp;As promptly as reasonably practicable after the execution of this Agreement, and in any event not later than March
12, 2019, Kinderhook, in consultation with Community, shall prepare the Proxy Statement and disseminate it to the Kinderhook Shareholders.
Community shall provide to Kinderhook all information concerning Community and Merger Sub as may be reasonably requested by Kinderhook
in connection with the Proxy Statement and shall otherwise assist and cooperate with Kinderhook in the preparation of the Proxy
Statement. Each of Kinderhook, Community and Merger Sub shall promptly correct any information provided by it for use in the Proxy
Statement if and to the extent such information shall have become false or misleading in any material respect. Prior to any dissemination
of the Proxy Statement (or any amendment or supplement thereto) to the Kinderhook Shareholders, Kinderhook shall provide Community
with a reasonable opportunity to review and to propose comments on such document, which Kinderhook shall consider in good faith,
it being understood and agreed that the Proxy Statement disseminated to the Kinderhook Shareholders, as well as any amendments
or supplements thereto, shall be in a form approved by Community.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
shall call and give notice of a meeting of its shareholders (the &ldquo;<U>Kinderhook Shareholder Meeting</U>&rdquo;) to be held
as soon as reasonably practicable, and in any event within forty-five (45) days after the mailing of the Proxy Statement, for the
purpose of obtaining the Kinderhook Shareholder Approval and, if so desired and mutually agreed, upon other matters of the type
customarily brought before an annual or special meeting of shareholders to adopt a merger agreement, and Kinderhook shall use its
reasonable best efforts to cause such meeting to occur as soon as reasonably practicable. The Board of Directors of Kinderhook
shall use its reasonable best efforts to obtain from the shareholders of Kinderhook the Kinderhook Shareholder Approval, including
by communicating to its shareholders the Kinderhook Directors&rsquo; Recommendation (and including such recommendation in the Proxy
Statement), and Kinderhook shall engage a proxy solicitor reasonably acceptable to Community to assist in the solicitation of proxies
from shareholders relating to the Kinderhook Shareholder Approval, <U>provided</U>, <U>however</U>, that, prior to the Kinderhook
Shareholder Meeting and subject to Sections&nbsp;6.1 and 6.2, so long as Kinderhook has complied with its obligations under <U>Section&nbsp;4.11</U>,
if the Board of Directors of Kinderhook, after receiving the advice of its outside counsel and, with respect to financial matters,
its financial advisor, determines in good faith that, because of (x)&nbsp;the receipt of an Acquisition Proposal that constitutes
a Superior Proposal or (y)&nbsp;the occurrence of an Intervening Event, failure to take such action would result in a violation
of its fiduciary duties under applicable Law, the Board of Directors of Kinderhook may submit this Agreement to Kinderhook&rsquo;s
shareholders without recommendation (although the resolutions approving this Agreement as of the date hereof may not be rescinded
or amended), in which event the Board of Directors of Kinderhook may communicate the basis for its lack of a recommendation to
Kinderhook&rsquo;s shareholders in the Proxy Statement or an appropriate amendment or supplement thereto to the extent required
by Law; <U>provided</U>, <U>further</U>, that the Board of Directors of Kinderhook may not take any actions under the foregoing
proviso unless (i)&nbsp;it gives Community at least five (5) Business Days&rsquo; prior written notice of its intention to take
such action and a reasonably detailed description of the Acquisition Proposal or Intervening Event giving rise to its determination
to take such action (including, in the case of an Acquisition Proposal, the latest material terms and conditions and the identity
of the third party in any such Acquisition Proposal (including an unredacted copy of all proposed agreements and other documents
with respect to such Acquisition Proposal) or any amendment or modification thereof), (ii)&nbsp;during such five (5) Business Day
notice period, Kinderhook shall, and shall cause its financial and legal advisors to, negotiate with Community in good faith (to
the extent Community seeks to negotiate) regarding any revisions to the terms of the transactions contemplated by this Agreement
proposed by Community, and (iii)&nbsp;at the end of such notice period, the Board of Directors of Kinderhook takes into account
in good faith any amendment or modification to this Agreement proposed by Community and after receiving the advice of its outside
counsel and, with respect to financial matters, its financial advisor, determines in good faith that it would nevertheless result
in a violation of its fiduciary duties under applicable Law to continue to recommend this Agreement. Any material amendment to
any Acquisition Proposal or material development with respect to any Intervening Event will be deemed to be a new Acquisition Proposal
or Intervening Event, as the case may be, for purposes of this <U>Section&nbsp;4.5(b)</U> and will require a new notice period
as referred to in this <U>Section&nbsp;4.5(b)</U>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
shall adjourn or postpone the Kinderhook Shareholder Meeting if, as of the time for which such meeting is originally scheduled
there are insufficient shares of Kinderhook Common Stock represented (either in person or by proxy) to constitute a quorum necessary
to conduct the business of such meeting, or if on the date of such meeting Kinderhook has not received proxies representing a sufficient
number of shares necessary to obtain the Kinderhook Shareholder Approval, and, subject to the terms and conditions of this Agreement,
Kinderhook shall continue to use all reasonable best efforts, together with its proxy solicitor, to solicit proxies from the Kinderhook
Shareholders in favor of the Kinderhook Shareholder Approval. Notwithstanding anything to the contrary herein, unless this Agreement
has been terminated in accordance with its terms, the Kinderhook Shareholder Meeting shall be convened and this Agreement shall
be submitted to the shareholders of Kinderhook at the Kinderhook Shareholder Meeting, for the purpose of voting on the adoption
of this Agreement and the other matters contemplated hereby, and nothing contained herein shall be deemed to relieve Kinderhook
of such obligation.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Reasonable
Best Efforts</U></FONT>. (a)&nbsp;&nbsp;Subject to the terms and conditions of this Agreement, including <U>Section&nbsp;4.7</U>,
the Parties will use all reasonable best efforts to take, or cause to be taken, in good faith, all actions, and to do, or cause
to be done, all things necessary, proper or advisable under applicable Laws to permit consummation of the Merger as promptly as
practicable and otherwise to enable consummation of the transactions contemplated hereby, and each will cooperate fully with and
furnish information to the other Party to that end, and obtain all consents of, and give all notices to and make all filings with,
all Governmental Authorities and other third parties that may be or become necessary for the performance of its obligations under
this Agreement and the consummation of the transactions contemplated hereby; <U>provided</U>, that Kinderhook shall not agree to
make any payments or modifications to agreements in connection therewith without the prior written consent of Community, which
consent shall not be unreasonably withheld, conditioned or delayed; and <U>provided</U>, <U>further</U>, that nothing contained
herein shall preclude any Party from exercising its rights under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following
the Effective Time, the Parties shall take all actions necessary to consummate the Bank Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Parties shall consult with respect to the character, amount and timing of restructuring charges to be taken by each of them in
connection with the transactions contemplated hereby and shall take such charges in accordance with GAAP, as such Parties mutually
agree upon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Applications
and Consents</U></FONT>. (a)&nbsp;&nbsp;The Parties shall cooperate with each other and use, and cause their applicable Subsidiaries
to use, their reasonable best efforts to promptly prepare and file all necessary documentation, to effect all applications, notices,
petitions and filings, to obtain as promptly as practicable all Permits, Consents, approvals and authorizations of all third parties
and Governmental Authorities which are necessary or advisable to consummate the transactions contemplated by this Agreement (including
the Requisite Regulatory Approvals), and to comply with the terms and conditions of all such Permits, Consents, approvals and authorizations
of all such Governmental Authorities and third parties. Without limiting the generality of the foregoing, as soon as reasonably
practicable and in no event later than forty-five (45) days after the date of this Agreement, Community and Kinderhook shall, and
shall cause their respective Subsidiaries to, each prepare and file any applications, notices and filings required to be filed
with any Governmental Authority in order to obtain the Requisite Regulatory Approvals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Community
and Kinderhook shall have the right to review in advance, and, to the extent practicable, each will consult the other on, in each
case subject to applicable Laws relating to the exchange of information, all the information relating to Kinderhook or Community,
as the case may be, and any of their respective Subsidiaries, which appears in any filing made with, or written materials submitted
to, any third party or any Governmental Authority in connection with the transactions contemplated by this Agreement. In exercising
the foregoing right, each of the Parties shall act reasonably and as promptly as practicable. To the extent not prohibited by applicable
Law, the Parties agree that they will consult with each other with respect to the obtaining of all Permits, Consents, approvals
and authorizations of all third parties and Governmental Authorities necessary or advisable to consummate the transactions contemplated
by this Agreement and each Party will keep the other apprised of the status of matters relating to completion of the transactions
contemplated hereby. Each Party shall consult with the other in advance of any meeting or conference with any Governmental Authority
in connection with the transactions contemplated by this Agreement and, to the extent permitted by such Governmental Authority,
Kinderhook shall give Community and/or its counsel the opportunity to attend and participate in such meetings and conferences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
furtherance and not in limitation of the foregoing, each of Community and Kinderhook shall use its reasonable best efforts to avoid
the entry of, or to have vacated, lifted, reversed or overturned any decree, judgment, injunction or other Order, whether temporary,
preliminary or permanent, that would restrain, prevent or delay the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Community
and Kinderhook shall, upon request, furnish each other with all information concerning themselves, their Subsidiaries, directors,
officers and stockholders and such other matters as may be reasonably necessary or advisable in connection with any statement,
filing, notice or application made by or on behalf of Community, Kinderhook or any of their respective Subsidiaries to any Governmental
Authority in connection with the Merger, the Bank Merger and the other transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent permitted by applicable Law, Community and Kinderhook shall promptly advise each other upon receiving any communication
from any Governmental Authority whose Consent is required for consummation of the transactions contemplated by this Agreement that
causes such Party to believe that there is a reasonable likelihood that any Requisite Regulatory Approval will not be obtained
or that the receipt of any such Consent will be materially delayed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
used in this Agreement, the &ldquo;<U>Requisite Regulatory Approvals</U>&rdquo; shall mean all regulatory authorizations, Consents,
Orders or approvals from, to or with (x)&nbsp;the Federal Reserve Board, the OCC, the FDIC, the New York State Department of Financial
Services, any Federal Home Loan Bank or any Federal Reserve Bank that are necessary to consummate the transactions contemplated
by this Agreement, including the Merger and the Bank Merger, and (y)&nbsp;any other approvals set forth in <U>Sections</U>&nbsp;<U>3.2(b)(vi)</U>
and <U>3.3(b)(iv)</U> that are necessary to consummate the transactions contemplated by this Agreement, including the Merger and
the Bank Merger, except in the case of this clause&nbsp;(y) for any such authorizations, Consents, Orders or approvals the failure
of which to be obtained or made would not reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect on Kinderhook or Community, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary in this Agreement, nothing in this Agreement shall require Community or its Subsidiaries (including Merger
Sub) to take, or agree to take, any actions, or to accept any restriction, requirement or condition imposed by any Regulatory Authority,
that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect on Community or Kinderhook,
or materially reduce the benefits or materially increase the burdens of the transactions contemplated hereby to such a degree that
Community or another similarly situated reasonable financial institution would not have entered into this Agreement had such actions,
conditions, restrictions or requirements been known at the date hereof (a &ldquo;<U>Materially Burdensome Regulatory Condition</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Notification
of Certain Matters</U></FONT>. Each Party will give prompt written notice to the other (and subsequently keep such other Party
informed on a current basis) upon its becoming aware of the occurrence or existence of any fact, event, change, circumstance or
effect that (a) is reasonably likely to result in any Material Adverse Effect on it, or (b)&nbsp;would cause or constitute a breach
of any of its representations, warranties, covenants, or agreements contained herein; provided, that any failure to give notice
in accordance with the foregoing with respect to any breach shall not be deemed to constitute the failure of any condition set
forth in <U>Section&nbsp;5.2(a)</U> or <U>5.2(b)</U>, or <U>Section&nbsp;5.3(a)</U> or <U>5.3(b)</U>, as the case may be, to be
satisfied, or otherwise constitute a breach of this Agreement by such Party due to its failure to give such notice unless the underlying
breach would independently result in a failure of the conditions set forth in <U>Section&nbsp;5.2(a)</U> or <U>5.2(b)</U>, or <U>Section&nbsp;5.3(a)</U>
or <U>5.3(b)</U>, as the case may be, or give rise to a termination right under <U>Section&nbsp;6.1</U>. Kinderhook shall deliver
to Community a copy of the written opinion (or any withdrawal of such opinion) of any financial advisor, as soon as reasonably
practicable after Kinderhook&rsquo;s receipt thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Investigation
and Confidentiality</U></FONT>. (a)&nbsp;&nbsp;Upon reasonable notice and subject to applicable Laws, Kinderhook shall, and shall
cause its Subsidiaries to, afford to the officers, employees, accountants, counsel, advisors and other Representatives of Community,
access, during normal business hours during the period prior to the Effective Time, to all of their properties, books, Contracts,
commitments, personnel, information technology systems and records, and, during such period, Kinderhook shall, and shall cause
its Subsidiaries to, make available to Community such information concerning their respective businesses, properties and personnel
as Community may request. Community shall use commercially reasonable efforts to minimize any interference with Kinderhook&rsquo;s
regular business operations during any such access. No investigation by Community shall affect the representations and warranties
of Kinderhook or the right of Community to rely thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Party shall, and shall cause its directors, officers, employees and Representatives to, maintain the confidentiality of all confidential
information furnished to it by the other Party concerning its and its Subsidiaries&rsquo; businesses, operations and financial
positions to the extent required by, and in accordance with, the Confidentiality Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
shall provide Community, no later than fifteen (15) days after the end of each month, a written update on each of its Delinquent
Loans and such other information with respect to Kinderhook&rsquo;s and its Subsidiaries&rsquo; Loan portfolio as is reasonably
requested by Community.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Press
Releases; Publicity</U></FONT>. Prior to the Effective Time, each Party shall consult with and obtain the approval (not to be unreasonably
withheld, conditioned or delayed) of the other as to the form and substance of any press release, other public statement or stockholder
communication related to this Agreement and the transactions contemplated hereby prior to issuing such press release, public statement
or stockholder communication or making any other public or stockholder disclosure related thereto; <U>provided</U>, that nothing
in this <U>Section&nbsp;4.10</U> shall be deemed to prohibit any Party from making any disclosure that its counsel deems necessary
or advisable in order to satisfy such Party&rsquo;s disclosure obligations imposed by Law or the NYSE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Acquisition
Proposals</U></FONT>. (a)&nbsp;&nbsp;Kinderhook agrees that it will not, and will cause its directors, officers, employees and
Representatives and Affiliates not to, directly or indirectly, (i)&nbsp;initiate, solicit, encourage or knowingly facilitate inquiries
or proposals with respect to, (ii)&nbsp;continue, engage or participate in any negotiations concerning, (iii)&nbsp;provide any
confidential or nonpublic information or data to, or have or participate in any discussions with, any Person (other than Persons
who are Affiliates or Representatives of Kinderhook or Community) relating to, or (iv)&nbsp;approve, recommend, agree to or accept,
any Acquisition Proposal; <U>provided</U>, that, prior to, but not after, the time the Kinderhook Shareholder Approval is obtained,
if Kinderhook receives an unsolicited bona fide Acquisition Proposal after the date of this Agreement that was not received in
violation of clauses&nbsp;(i) &ndash; (iv) above, and Kinderhook&rsquo;s Board of Directors concludes in good faith that such Acquisition
Proposal constitutes or is reasonably likely to result in a Superior Proposal, Kinderhook may, and may permit its officers and
Representatives to, furnish or cause to be furnished nonpublic information or data to and participate in such negotiations or discussions
with the Person making such Acquisition Proposal to the extent that the Board of Directors of Kinderhook concludes in good faith
(after receiving the advice of its outside counsel and, with respect to financial matters, its financial advisor) that failure
to take such actions would result in a violation of its fiduciary duties under applicable Law; <U>provided</U>, <U>further</U>,
that prior to providing any nonpublic information permitted to be provided pursuant to the foregoing proviso, Kinderhook shall
have entered into a confidentiality agreement with such third party on terms no less favorable to it than the Confidentiality Agreement
and shall provide to Community any such information not previously provided to Community. Kinderhook will immediately cease and
cause to be terminated any activities, discussions or negotiations conducted before the date of this Agreement with any Persons
other than Community with respect to any Acquisition Proposal. Kinderhook shall use its reasonable best efforts, subject to applicable
Law, to, within ten (10) Business Days after the date hereof, request and confirm the return or destruction of any confidential
information provided to any Person (other than Community and its Affiliates and its and their Representatives) pursuant to any
existing confidentiality, standstill or similar agreements to which it or any of its Subsidiaries is a party relating to an Acquisition
Proposal, and shall withdraw and terminate any access that was granted to any third party to any &ldquo;data room&rdquo; (electronic
or physical) that was established in connection with a transaction involving Kinderhook.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
shall promptly, and in any event within forty-eight (48) hours of receipt, advise Community in writing in the event Kinderhook
or any of its directors, employees, officers or Representatives receives (i)&nbsp;any Acquisition Proposal or indication by any
Person that it is considering making an Acquisition Proposal, (ii)&nbsp;any request for information, discussion or negotiation
that is reasonably likely to lead to or that contemplates an Acquisition Proposal or (iii)&nbsp;any inquiry, proposal or offer
that is reasonably likely to lead to an Acquisition Proposal, in each case together with the terms and conditions of such Acquisition
Proposal, request, inquiry, proposal or offer, and shall furnish Community with a copy of such Acquisition Proposal (or, where
such Acquisition Proposal is not in writing, with a description of the material terms and conditions thereof). Kinderhook shall
keep Community informed (orally and in writing) in all material respects on a timely basis of the status and details (including,
within forty-eight (48) hours after the occurrence of any amendment, modification, development, discussion or negotiation) of any
such Acquisition Proposal, request, inquiry, proposal or offer, including furnishing copies of any written inquiries, correspondence
and draft documentation, and written summaries of any material oral inquiries or discussions. Without limiting any of the foregoing,
Kinderhook shall promptly (and in any event within forty-eight (48) hours) notify Community orally and in writing if it determines
to begin providing information or to engage in discussions or negotiations concerning an Acquisition Proposal and shall in no event
begin providing such information or engaging in such discussions or negotiations prior to providing such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Board of Directors of Kinderhook nor any committee thereof shall (i)&nbsp;except as expressly permitted by <U>Section&nbsp;4.5(a)</U>,
(A)&nbsp;withdraw (or modify or qualify in any manner adverse to Community) the approval, recommendation or declaration of advisability
by the Board of Directors of Kinderhook or any such committee of this Agreement, the Merger, or any of the other transactions contemplated
hereby, (B)&nbsp;adopt, approve, recommend, endorse or otherwise declare advisable the adoption of any Acquisition Proposal, (C)&nbsp;resolve,
agree or propose to take any such actions or (D)&nbsp;submit this Agreement to its shareholders without recommendation (each such
action set forth in this clause&nbsp;(i) being referred to herein as an &ldquo;<U>Adverse Recommendation Change</U>&rdquo;) or
(ii)&nbsp;(A)&nbsp;cause or permit Kinderhook or any of its Subsidiaries to enter into any letter of intent, memorandum of understanding,
agreement in principle, acquisition agreement, merger agreement, option agreement, joint venture agreement, partnership agreement
or other Contract constituting or relating to, or which is intended to or is reasonably likely to lead to, any Acquisition Proposal
or (B)&nbsp;resolve, agree or propose to take any such actions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
agrees that any breach by its directors, officers, employees, Affiliates or Representatives of this <U>Section&nbsp;4.11</U> shall
be deemed a breach by Kinderhook.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing
contained in this Agreement shall prevent Kinderhook or its Board of Directors from complying with Rules 14d-9 and 14e-2 under
the Exchange Act or Item&nbsp;1012(a) of Regulation M-A with respect to an Acquisition Proposal or from making any legally required
disclosure to Kinderhook&rsquo;s shareholders; <U>provided</U>, that such rules will in no way eliminate or modify the effect that
any action pursuant to such rules would otherwise have under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Takeover
Laws</U></FONT>. None of Kinderhook, Community, Merger Sub or their respective Boards of Directors shall take any action that would
cause any Takeover Law to become applicable to this Agreement, the Merger, or any of the other transactions contemplated hereby,
and each shall take all necessary steps to exempt (or ensure the continued exemption of) the Merger and the other transactions
contemplated hereby from any applicable Takeover Law now or hereafter in effect. If any Takeover Law may become, or may purport
to be, applicable to the transactions contemplated hereby, each Party and the members of their respective Boards of Directors will
grant such approvals and take such actions as are necessary so that the transactions contemplated by this Agreement may be consummated
as promptly as practicable on the terms contemplated hereby and otherwise act to eliminate or minimize the effects of any Takeover
Law on any of the transactions contemplated by this Agreement, including, if necessary, challenging the validity or applicability
of any such Takeover Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Employee
Matters</U></FONT>. (a)&nbsp;&nbsp;Community agrees that each current employee of Kinderhook or any of its Subsidiaries who continues
as an employee of the Surviving Corporation or any of its Subsidiaries after the Effective Time (collectively, the &ldquo;<U>Continuing
Employees</U>&rdquo;) will, during the period commencing on the Effective Time and ending one year following the Effective Time,
continue to be provided with: (i)&nbsp;a base salary or base wage that is no less favorable than that in effect immediately prior
to the Effective Time for the applicable Continuing Employee; and (ii)&nbsp;an annual cash bonus opportunity that is no less favorable
than that in effect immediately prior to the Effective Time for the applicable Continuing Employee (for the avoidance of doubt,
excluding value attributable to equity or equity-based compensation such as SAR Rights).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as would result in a duplication of benefits, the Continuing Employees shall be given, subject to applicable Law, credit for past
service with Kinderhook and its Subsidiaries to the extent credited by Kinderhook and its Subsidiaries prior to the Effective Time
for purposes of determining eligibility for employee benefits under all employee health and welfare programs maintained by Community
or its Subsidiaries in which such Continuing Employees participate following the Effective Time and for purposes of determining
length of vacation, sick time and paid time off under Community&rsquo;s applicable plan or policy (but not for purposes of eligibility
for, vesting under, or accrual with respect to any defined benefit pension plan, retiree health or welfare plan or equity award
or other long-term incentive compensation plans). In addition, under the welfare plans of Community and its Subsidiaries in which
Continuing Employees participate, Community shall use its commercially reasonable efforts to (i)&nbsp;waive, or cause to be waived,
for each participating Continuing Employee, any limitations on benefits relating to pre-existing conditions to the same extent
such limitations are waived under any comparable plan of Kinderhook or its Subsidiaries prior to the Effective Time and (ii) recognize
for purposes of annual deductible and out-of-pocket limits under its medical and dental plans, deductible and out-of-pocket expenses
paid by each participating Continuing Employee in the calendar year in which the Effective Time occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the Effective Time, Kinderhook shall take, and shall cause its Subsidiaries to take, all actions that may be requested by Community
in writing with respect to (i)&nbsp;causing one or more Kinderhook Benefit Plans to terminate as of or following the date immediately
preceding the Effective Time or for benefit accruals and entitlements to cease as of or following the date immediately preceding
the Effective Time, (ii)&nbsp;causing the continuation on and after the Effective Time of any Contract, arrangement or insurance
policy relating to any Kinderhook Benefit Plan for such period as may be requested by Community, or (iii)&nbsp;cooperating with
Community to facilitate the merger of any Kinderhook Benefit Plan into any Benefit Plan of Community or its Subsidiaries as of
or following the Effective Time. All resolutions, notices, or other documents issued, adopted or executed in connection with the
implementation of this <U>Section&nbsp;4.13(c)</U> shall be subject to Community&rsquo;s reasonable prior review and approval,
which shall not be unreasonably withheld, conditioned or delayed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Community
shall honor, each in accordance with its terms, the employment agreements and severance arrangements with Continuing Employees
in effect as of the date of this Agreement to the extent such agreements are set forth on Section&nbsp;3.2(j)(i) of the Kinderhook
Disclosure Letter, except to the extent that any such agreements or arrangements are superseded or terminated as of or following
the Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of any termination of any Kinderhook Benefit Plan providing employer-provided health coverage or consolidation of any
such plan with any Benefit Plan of Community or any of its Subsidiaries providing employer-provided health coverage within twelve
(12) months after the Effective Time, (i) Community shall, or shall cause its Subsidiaries to, use commercially reasonable efforts
to make available to Continuing Employees and their dependents employer-provided health coverage on the same basis as it provides
such coverage to similarly situated employees of Community and its Subsidiaries and (ii)&nbsp;former employees of Kinderhook or
any of its Subsidiaries and their qualified beneficiaries will have the right to continued coverage under a group health plan of
Community to the extent required by The Consolidated Omnibus Budget Reconciliation Act of 1985.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severance
and Retention Payments</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Community
will provide any employee who is employed by Kinderhook or Kinderhook Bank immediately prior to the Effective Time and who is not
otherwise covered by an individual severance or change in control agreement and whose employment is terminated by Community or
Community Bank without Cause (as defined in Section&nbsp;4.13(f)(i) of the Kinderhook Disclosure Letter) at or within six (6) months
following the Effective Time with severance payments equal to one (1) week of base salary for each full year of service with Kinderhook
or Kinderhook Bank, with a minimum benefit of four (4) weeks of base salary and a maximum benefit of twenty-six (26) weeks of base
salary, in all cases subject to such employee&rsquo;s execution of a release of claims in a form reasonably acceptable to Community
and paid without duplication of any other severance or termination benefit for which such employee is eligible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Community
shall implement a stay bonus pool for stay bonus awards to select employees of Kinderhook and Kinderhook Bank on the terms set
forth in Section 4.13(f)(ii) of the Kinderhook Disclosure Letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
provisions of this <U>Section&nbsp;4.13</U> are solely for the benefit of the parties hereto, and no Service Provider or any other
Person shall be regarded for any purpose as a third party beneficiary of this Agreement. Nothing herein, expressed or implied,
shall be construed as an amendment to any Benefit Plan for any purpose or confer upon any Continuing Employee or any other Person
any right to employment or continued employment with any of the parties hereto or any of their Subsidiaries or Affiliates for any
period. Nothing in this <U>Section&nbsp;4.13</U> shall be construed to limit the right of Community or any of its Subsidiaries
(including, following the Effective Time, Kinderhook and its Subsidiaries) to amend or terminate any Kinderhook Benefit Plan or
other employee benefit plan, to the extent such amendment or termination is permitted by the terms of the applicable plan, nor
shall anything in this <U>Section&nbsp;4.13</U> be construed to require Community or any of its Subsidiaries to retain the employment
of any particular Continuing Employee for any fixed period of time following the Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Certain
Policies</U></FONT>. Following receipt of all Requisite Regulatory Approvals and adoption of this Agreement at the Kinderhook Shareholder
Meeting:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
shall, consistent with GAAP and applicable Law and on a basis mutually satisfactory to it and Community, modify and change its
accounting, investment, loan, litigation and real estate valuation policies and practices (including loan classifications, content
and size of investment portfolio, and levels of reserves and accruals) so as to be applied, in all material respects, on a basis
that is consistent with that of Community;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
and Community shall review the adequacy of reserves for loan losses currently established by Kinderhook and, if deemed warranted
by both parties under GAAP, Kinderhook shall make mutually acceptable changes to such reserves; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
shall consult with Community with respect to determining the amount and timing of recognizing, for financial accounting and income
Tax reporting purposes, Kinderhook&rsquo;s expenses incurred in connection with the Merger, the Bank Merger and the transactions
contemplated by this Agreement, and, subject to GAAP and applicable Law, Kinderhook shall recognize its costs and expenses in connection
with the transactions contemplated hereby at such time or times as are reasonably requested by Community.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Indemnification</U></FONT>.
(a)&nbsp;&nbsp;From and after the Effective Time, the Surviving Corporation shall, and Community shall cause the Surviving Corporation
to, indemnify and hold harmless, to the fullest extent permitted by applicable Law, each present and former director, officer or
employee of Kinderhook and its Subsidiaries (in each case, when acting in such capacity) (each, an &ldquo;<U>Indemnified Party</U>&rdquo;)
against any costs or expenses (including reasonable attorneys&rsquo; fees), judgments, fines, losses, damages or liabilities incurred
in connection with any threatened or actual claim, action, suit, proceeding or investigation, whether civil, criminal, administrative
or investigative, whether arising before or after the Effective Time, arising in whole or in part out of, or pertaining to, the
fact that such person is or was a director, officer or employee of Kinderhook or any of its Subsidiaries or is or was serving at
the request of Kinderhook or any of its Subsidiaries as a director or officer of another Person and pertaining to matters, acts
or omissions existing or occurring at or prior to the Effective Time, including matters, acts or omissions occurring in connection
with the approval of this Agreement and the transactions contemplated by this Agreement; and the Surviving Corporation shall also
advance expenses as incurred by such Indemnified Party to the fullest extent permitted by applicable Law; <U>provided</U> that
the Indemnified Party to whom expenses are advanced provides an undertaking (in a reasonable and customary form) to repay such
advances if it is ultimately determined that such Indemnified Party is not entitled to indemnification. The Surviving Corporation
shall reasonably cooperate with the Indemnified Party in the defense of any such claim, action, suit, proceeding or investigation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to applicable Law, for a period of six (6) years after the Effective Time, the Surviving Corporation shall, and Community shall
cause the Surviving Corporation to, cause to be maintained in effect the current policies of directors&rsquo; and officers&rsquo;
liability insurance maintained by Kinderhook (<U>provided</U>, that the Surviving Corporation may substitute therefor policies
with a substantially comparable insurer of at least the same coverage and amounts containing terms and conditions which are no
less advantageous to the insured) with respect to claims against the present and former officers and directors of Kinderhook or
any of its Subsidiaries arising from facts or events which occurred at or before the Effective Time (including the transactions
contemplated by this Agreement); <U>provided</U>, that the Surviving Corporation shall not be obligated to expend, on an annual
basis, an amount in excess of two hundred percent (200%) of the current annual premium paid as of the date hereof by Kinderhook
for such insurance (the &ldquo;<U>Premium Cap</U>&rdquo;), and if such premiums for such insurance would at any time exceed the
Premium Cap, then the Surviving Corporation shall cause to be maintained policies of insurance which, in its good faith determination,
provide the maximum coverage available at an annual premium equal to the Premium Cap. In lieu of the foregoing, Kinderhook, in
consultation with Community, may (and at the request of Community, Kinderhook shall use its reasonable best efforts to) obtain
at or prior to the Effective Time a six (6) year &ldquo;tail&rdquo; policy providing equivalent coverage to that described in the
preceding sentence if and to the extent that the same may be obtained for an amount that, in the aggregate, does not exceed the
Premium Cap. If Kinderhook purchases such a &ldquo;tail policy,&rdquo; the Surviving Corporation shall maintain such &ldquo;tail&rdquo;
policy in full force and effect and continue to honor its obligations thereunder for such six (6) year period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to applicable Law, the obligations of the Parties under this <U>Section&nbsp;4.15</U> shall not be terminated or modified after
the Effective Time in a manner so as to adversely affect any Indemnified Party or any other Person entitled to the benefit of this
<U>Section&nbsp;4.15</U> without the prior written consent of the affected Indemnified Party or affected Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to applicable Law, the provisions of this <U>Section&nbsp;4.15</U> shall survive the Effective Time and are intended to be for
the benefit of, and shall be enforceable by, each Indemnified Party and his or her heirs and Representatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Kinderhook
<FONT STYLE="font-family: Times New Roman, Times, Serif">Debt</FONT></U>. (a)&nbsp;&nbsp;Community will, or will cause the Surviving
Corporation to, execute and deliver, by or on behalf of Kinderhook, at or prior to the Effective Time, any supplements, amendments
or other instruments required for the due assumption of Kinderhook&rsquo;s outstanding debt, guarantees, securities and other agreements
listed on Section&nbsp;4.16 of the Kinderhook Disclosure Letter to the extent required by the terms of such debt, guarantees, securities
and other agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the Effective Time, Kinderhook shall, and shall cause its Subsidiaries to, take all such actions reasonably requested by Community
or any of its Subsidiaries with respect to the debt, guarantees, securities and other agreements described in <U>Section&nbsp;4.16(a)</U>
above (i)&nbsp;to the extent required by the terms thereof or under applicable Law to be taken prior to the Effective Time, including,
without limitation, the giving of any notices that may be required in connection with the Merger or the Bank Merger, and the delivery
of any supplemental indentures, legal opinions, officers&rsquo; certificates or other documents or instruments required in connection
with the Merger, the Bank Merger and the respective consummation thereof or (ii)&nbsp;in order to facilitate Community&rsquo;s
compliance with the foregoing <U>Section&nbsp;4.16(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Systems
Integration; Operating Functions</U></FONT>. From and after the date hereof, Kinderhook and Kinderhook Bank shall and shall cause
their directors, officers and employees to, and shall make all reasonable best efforts (without undue disruption to either business)
to cause Kinderhook Bank&rsquo;s data processing consultants and software providers to, cooperate and assist Community in connection
with an electronic and systems conversion of all applicable data of Kinderhook and its Subsidiaries concerning the Loans, deposits
and other assets and Liabilities of Kinderhook and its Subsidiaries to the Community systems. Such cooperation and assistance shall
include the training of Kinderhook&rsquo;s and its Subsidiaries&rsquo; employees, during normal business hours, and providing Community
and its Subsidiaries with computer file instructions with respect to the information in its data processing system regarding the
assets and Liabilities of Kinderhook and Kinderhook Bank, together with operational procedures designed to implement the transfer
of such information to Community and its Subsidiaries, provided that the confidentiality of customer information shall be preserved
and no information shall be transferred until the Effective Time. Kinderhook and its Subsidiaries shall cooperate with Community
in connection with the planning for the efficient and orderly combination of the parties and the operation of Community Bank (including
the former operations of Kinderhook Bank) after the Bank Merger, and in preparing for the consolidation of appropriate operating
functions to be effective at the Effective Time or such later date as Community may decide. Kinderhook shall, and shall cause its
Subsidiaries to, take any action Community may reasonably request prior to the Effective Time to facilitate the combination of
the operations of Kinderhook Bank with Community Bank upon the completion of the Merger. After the execution of this Agreement,
Kinderhook and Community shall each designate an individual to serve as liaison concerning the transfer of data processing information
and other similar operational matters. Prior to the Effective Time, Kinderhook shall not enter into, extend, modify, or terminate
any agreement with a third party vendor providing information technology or data processing services or software to Kinderhook
or any Subsidiary of Kinderhook without the prior written consent of Community, which consent shall not be unreasonably withheld
or delayed. Without limiting the foregoing, senior officers of Kinderhook and Community shall meet from time to time as Kinderhook
or Community may reasonably request, to review the financial and operational affairs of Kinderhook and its Subsidiaries, and Kinderhook
shall give due consideration to Community&rsquo;s input on such matters, with the understanding that, notwithstanding any other
provision contained in this Agreement, (i)&nbsp;neither Community nor Community Bank shall be permitted to exercise control of
Kinderhook or Kinderhook Bank prior to the Effective Time, and (ii)&nbsp;neither Kinderhook nor Kinderhook Bank shall be under
any obligation to act in a manner that could reasonably be deemed to constitute anti-competitive behavior under federal or state
antitrust Laws.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;4.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Merger
Sub Compliance</U></FONT>. Community shall cause Merger Sub to comply with all of its obligations under or related to this Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Article&nbsp;5</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Conditions
Precedent to Obligations to Consummate</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Conditions
to Obligations of Each Party</U></FONT>. The respective obligations of each Party to consummate the Merger and the other transactions
contemplated hereby are subject to the satisfaction of the following conditions, unless legally waived by each Party pursuant to
<U>Section&nbsp;7.6</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Shareholder
Approval</U>. Kinderhook shall have obtained the Kinderhook Shareholder Approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Regulatory
Approvals</U>. (i)&nbsp;All Requisite Regulatory Approvals shall have been obtained or made and be in full force and effect and
all waiting periods required by Law shall have expired, and (ii) solely insofar as this condition relates to the obligations of
Community and Merger Sub, no such Requisite Regulatory Approval shall impose or contain any Materially Burdensome Regulatory Condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Orders or Restraints; Illegality</U>. No Order issued by any Governmental Authority (whether temporary, preliminary, or permanent)
preventing the consummation of the Merger or the Bank Merger shall be in effect and no Law or Order shall have been enacted, entered,
promulgated or enforced by any Governmental Authority that prohibits, restrains or makes illegal the consummation of the Merger
or the Bank Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Conditions
to Obligations of </U></FONT><U>Community <FONT STYLE="font-family: Times New Roman, Times, Serif">and Merger Sub</FONT></U>. The
obligations of Community and Merger Sub to consummate the Merger and the other transactions contemplated hereby are subject to
the satisfaction of the following conditions, unless waived by Community pursuant to <U>Section&nbsp;7.6</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Warranties</U>. The representations and warranties of Kinderhook set forth in this Agreement shall be true and correct as of
the date of this Agreement and as of the Effective Time as though made at and as of the Effective Time (except that representations
and warranties that by their terms speak specifically as of the date of this Agreement or some other date shall be true and correct
as of such date); <U>provided</U>, <U>however</U>, that no representation or warranty of Kinderhook (other than the representations
and warranties set forth in (i)&nbsp;<U>Section&nbsp;3.2(c)</U>, which shall be true and correct except to a <I>de minimis</I>
extent (relative to <U>Section&nbsp;3.2(c)</U> taken as a whole) and (ii)&nbsp;<U>Sections&nbsp;3.2(a)</U>, <U>3.2(b)(i)</U>, <U>3.2(b)(ii)</U>,
<U>3.2(b)(iii)</U>, <U>3.2(b)(iv)</U>, <U>3.2(b)(v)(A)</U>, <U>3.2(e)(C)</U>, <U>3.2(t)</U>, <U>3.2(u)</U>, <U>3.2(y)</U>, <U>3.2(z)</U>
and <U>3.2(dd)</U>, which shall be true and correct in all respects) shall be deemed untrue and incorrect for purposes hereunder
as a consequence of the existence of any fact, event, change, circumstance or effect inconsistent with such representation or warranty,
unless such fact, event, change, circumstance or effect, individually or taken together with all other facts, events, changes,
circumstances or effects inconsistent with any representation or warranty of Kinderhook, has had or would reasonably be expected
to have a Material Adverse Effect on Kinderhook; <U>provided</U>, <U>further</U>, that for purposes of determining whether a representation
or warranty is true and correct for purposes of this <U>Section&nbsp;5.2(a)</U>, any qualification or exception for, or reference
to, materiality (including the terms &ldquo;material,&rdquo; &ldquo;materially,&rdquo; &ldquo;in all material respects,&rdquo;
&ldquo;Material Adverse Effect&rdquo; or similar terms or phrases) in any such representation or warranty shall be disregarded;
and Community shall have received a certificate, dated the Closing Date, signed on behalf of Kinderhook by the chief executive
officer and any executive vice president of Kinderhook, to such effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance
of Agreements and Covenants</U>. Each and all of the agreements and covenants of Kinderhook to be performed and complied with pursuant
to this Agreement prior to the Effective Time shall have been duly performed and complied with in all material respects and Community
shall have received a certificate, dated the Closing Date, signed on behalf of Kinderhook by the chief executive officer and any
executive vice president of Kinderhook, to such effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Consents</U>.
Kinderhook shall have obtained all Consents required as a result of the transactions contemplated by this Agreement pursuant to
the Contracts set forth in Section&nbsp;3.2(b) and Section&nbsp;3.2(k) of the Kinderhook Disclosure Letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Material
Adverse Effect</U>. Since the date hereof, there shall not have occurred any fact, event, change, circumstance or effect, individually
or taken together with all other facts, events, changes, circumstances or effects, that has had or would reasonably be expected
to have a Material Adverse Effect on Kinderhook.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Dissenting
Shares</U>. Dissenting shares shall represent not more than twenty percent (20%) of the outstanding shares of Kinderhook Common
Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Systems
Conversion</U>. The electronic and systems conversion of all applicable data of Kinderhook and its Subsidiaries concerning the
Loans, deposits and other assets and Liabilities of Kinderhook and its Subsidiaries to the Community systems shall be scheduled
to occur and prepared for completion, in each case, not later than the opening of business on the first Business Day following
the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Conditions
to Obligations of </U></FONT><U>Kinderhook</U>. The obligations of Kinderhook to consummate the Merger and the other transactions
contemplated hereby are subject to the satisfaction of the following conditions, unless waived by Kinderhook pursuant to <U>Section&nbsp;7.6</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Warranties</U>. The representations and warranties of Community and Merger Sub set forth in this Agreement shall be true and
correct as of the date of this Agreement and as of the Effective Time as though made at and as of the Effective Time (except that
representations and warranties that by their terms speak specifically as of the date of this Agreement or some other date shall
be true and correct as of such date); <U>provided</U>, <U>however</U>, that no representation or warranty of Community or Merger
Sub shall be deemed untrue or incorrect for purposes hereunder as a consequence of the existence of any fact, event, change, circumstance
or effect inconsistent with such representation or warranty, unless such fact, event, change, circumstance or effect, individually
or taken together with all other facts, events, changes, circumstances or effects inconsistent with any representation or warranty
of Community or Merger Sub, has had or would reasonably be expected to have a material adverse effect on the ability of Community
and Merger Sub to perform their respective obligations under this Agreement or to timely consummate the Merger; <U>provided</U>,
<U>further</U>, that for purposes of determining whether a representation or warranty is true and correct for purposes of this
<U>Section&nbsp;5.3(a)</U>, any qualification or exception for, or reference to, materiality (including the terms &ldquo;material,&rdquo;
&ldquo;materially,&rdquo; &ldquo;in all material respects,&rdquo; &ldquo;Material Adverse Effect&rdquo; or similar terms or phrases)
in any such representation or warranty shall be disregarded; and Kinderhook shall have received a certificate, dated the Closing
Date, signed on behalf of Community by the chief executive officer or any executive vice president of Community, to such effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance
of Agreements and Covenants</U>. Each and all of the agreements and covenants of Community and Merger Sub to be performed and complied
with pursuant to this Agreement prior to the Effective Time shall have been duly performed and complied with in all material respects
and Kinderhook shall have received a certificate, dated the Closing Date, signed on behalf of Community by the chief executive
officer or any executive vice president of Community to such effect.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Article&nbsp;6</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Termination</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Termination</U></FONT>.
Notwithstanding any other provision of this Agreement, and notwithstanding the Kinderhook Shareholder Approval, this Agreement
may be terminated and the Merger abandoned at any time prior to the Effective Time:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By
mutual written consent of Kinderhook and Community;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By
either Community or Kinderhook (<U>provided</U>, that the terminating Party is not then in material breach of any representation,
warranty, covenant or other agreement contained herein) if there shall have been a breach of any of the covenants or agreements
or any of the representations or warranties (or any such representation or warranty shall cease to be true) set forth in this Agreement
on the part of Kinderhook, in the case of a termination by Community, or Community and Merger Sub, in the case of a termination
by Kinderhook, which breach or failure to be true, either individually or in the aggregate with all the other breaches by such
Party (or failures of representations or warranties to be true), would constitute, if occurring or continuing on the Closing Date,
the failure of a condition set forth in <U>Section&nbsp;5.2</U>, in the case of a termination by Community, or <U>Section&nbsp;5.3</U>,
in the case of a termination by Kinderhook, and which is not cured within thirty (30) days following written notice to Kinderhook,
in the case of a termination by Community, or Community, in the case of a termination by Kinderhook, or by its nature or timing
cannot be cured during such period (or such fewer days as remain prior to the Expiration Date);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By
either Community or Kinderhook in the event that the Kinderhook Shareholder Approval has not been obtained by reason of the failure
to obtain the required vote at the Kinderhook Shareholder Meeting; <U>provided</U> that Kinderhook may not terminate this Agreement
under this <U>Section&nbsp;6.1(c)</U> if it has not complied in all material respects with its obligations under <U>Section&nbsp;4.5</U>
(including by complying with any adjournment or postponement obligations under <U>Section&nbsp;4.5</U>);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By
either Community or Kinderhook in the event that a court of competent jurisdiction or other Governmental Authority shall have issued
any Order restraining, enjoining or otherwise prohibiting the Merger or the Bank Merger and such Order shall have become final
and nonappealable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By
either Community or Kinderhook in the event that the Merger has not been consummated by 5:00&nbsp;p.m., New York City time, on
the first (1st) anniversary of the date of this Agreement (the &ldquo;<U>Expiration Date</U>&rdquo;), <U>provided</U> that the
failure to consummate the transactions contemplated hereby on or before such date is not caused by any breach of this Agreement
by the Party electing to terminate pursuant to this <U>Section&nbsp;6.1(e)</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By
Community in the event that Community or any of its Affiliates receives written notice from or is otherwise advised by a Governmental
Authority that it will not grant (or intends to rescind or revoke if previously approved) any Requisite Regulatory Approval or
receives written notice from or is otherwise advised by a Governmental Authority that it will not grant such Requisite Regulatory
Approval without imposing a Materially Burdensome Regulatory Condition; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By
Community in the event that (i)&nbsp;the Kinderhook Board of Directors or any committee thereof effects an Adverse Recommendation
Change, (ii)&nbsp;Kinderhook has failed to substantially comply with its obligations under <U>Section&nbsp;4.5</U> or <U>4.11</U>,
(iii)&nbsp;a tender offer or exchange offer for twenty-five percent (25%) or more of the outstanding shares of Kinderhook Common
Stock is commenced and Kinderhook shall not have sent to its shareholders, within ten (10) Business Days after the commencement
of such tender or exchange offer, a statement that the Board of Directors of Kinderhook recommends rejection of such tender or
exchange offer, or (iv)&nbsp;an Acquisition Proposal (other than a tender or exchange offer covered by clause&nbsp;(iii) of this
<U>Section&nbsp;6.1(g)</U>) with respect to Kinderhook is publicly announced and, upon Community&rsquo;s request, Kinderhook fails
to issue a press release announcing its opposition to such Acquisition Proposal and reaffirming the Kinderhook Directors&rsquo;
Recommendation within three (3) Business Days after such request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">The Party desiring to terminate
this Agreement pursuant to clause&nbsp;<U>(b)</U>, <U>(c)</U>, <U>(d)</U>, <U>(e)</U>, <U>(f)</U> or <U>(g)</U> of this <U>Section&nbsp;6.1</U>
shall give written notice of such termination to the other Party in accordance with <U>Section&nbsp;7.8</U>, specifying the provision
or provisions hereof pursuant to which such termination is effected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Termination
Fee</U></FONT>. (a)&nbsp;&nbsp;In the event that (i)&nbsp;(A)&nbsp;either Party terminates this Agreement pursuant to <U>Section&nbsp;6.1(c)</U>
or <U>6.1(e)</U>, or (B)&nbsp;Community terminates this Agreement pursuant to <U>Section&nbsp;6.1(b)</U>, (ii)&nbsp;prior to the
event giving rise to the right to terminate this Agreement, an Acquisition Proposal shall have been made known to Kinderhook or
any of its Subsidiaries or shall have been made directly to its shareholders generally or any Person shall have publicly announced,
or disclosed to Kinderhook&rsquo;s Board of Directors or senior management, an intention (whether or not conditional) to make an
Acquisition Proposal, and (iii) within fifteen (15) months following such termination an Acquisition Proposal is consummated or
a definitive agreement is entered into by Kinderhook with respect to an Acquisition Proposal, Kinderhook shall pay to Community,
by wire transfer of immediately available funds, an amount equal to $3,700,000 (the &ldquo;<U>Termination Fee</U>&rdquo;) on the
date of the earliest to occur of the events described in clause&nbsp;(iii) above; <U>provided</U> that for purposes of this <U>Section&nbsp;6.2(a)</U>,
all references in the definition of &ldquo;Acquisition Proposal&rdquo; to twenty-five percent (25%) shall be to fifty percent (50%).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that Community terminates this Agreement pursuant to <U>Section&nbsp;6.1(g)</U>, Kinderhook shall pay to Community, by
wire transfer of immediately available funds, the Termination Fee within two (2) Business Days after the date this Agreement is
terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinderhook
hereby acknowledges that the agreements contained in this <U>Section&nbsp;6.2</U> are an integral part of the transactions contemplated
by this Agreement and that, without these agreements, Community would not enter into this Agreement. In the event that Kinderhook
fails to pay if and when due any amount payable under this <U>Section&nbsp;6.2</U>, then (i)&nbsp;Kinderhook shall reimburse Community
for all costs and expenses (including disbursements and reasonable fees of counsel) incurred in connection with the collection
of such overdue amount, and (ii)&nbsp;Kinderhook shall pay to Community interest on such overdue amount (for the period commencing
as of the date such overdue amount was originally required to be paid and ending on the date such overdue amount is actually paid
in full) at a rate per annum equal to the &ldquo;prime rate&rdquo; (as published in the &ldquo;Money Rates&rdquo; column in <I>The
Wall Street Journal</I> or, if not published therein, in another national financial publication selected by Community) in effect
on the date such overdue amount was originally required to be paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assuming
Kinderhook is not in willful breach of its obligations under this Agreement, including <U>Section&nbsp;4.5</U> and <U>4.11</U>,
then the payment of the Termination Fee shall fully discharge Kinderhook from and be the sole and exclusive remedy of Community
and Merger Sub with respect to any and all losses that may be suffered by Community or its Affiliates (including Merger Sub) based
upon, resulting from or arising out of the circumstances giving rise to such termination of this Agreement under <U>Section&nbsp;6.2(a)</U>
or <U>6.2(b)</U>. In no event shall Kinderhook be required to pay the Termination Fee on more than one occasion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Effect
of Termination</U></FONT>. In the event of the termination and abandonment of this Agreement pursuant to <U>Section&nbsp;6.1</U>,
this Agreement shall become void and have no effect, and none of Community, Kinderhook, any of their respective Subsidiaries, or
any of the officers or directors of any of them, shall have any Liability of any nature whatsoever hereunder or in conjunction
with the transactions contemplated hereby, except that (i)&nbsp;the provisions of <U>Section&nbsp;4.9(b)</U>, <U>Article&nbsp;6</U>
and <U>Article&nbsp;7</U> shall survive any such termination and abandonment, and (ii)&nbsp;a termination of this Agreement shall
not relieve the breaching Party from Liability for an uncured willful breach of a representation, warranty, covenant or agreement
of such Party contained in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Article&nbsp;7</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">Miscellaneous</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Definitions</U></FONT>.
(a)&nbsp;&nbsp;Except as otherwise provided herein, the capitalized terms set forth below shall have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Acquisition Proposal</U>&rdquo;
shall mean, other than the transactions contemplated by this Agreement, any offer, proposal or inquiry relating to, or any third
party indication of interest in, (i)&nbsp;any acquisition or purchase, direct or indirect, of twenty-five percent (25%) or more
of the consolidated assets of Kinderhook and its Subsidiaries or twenty-five percent (25%) or more of any class of equity or voting
securities of Kinderhook or any of its Subsidiaries whose assets, individually or in the aggregate, constitute more than twenty-five
percent (25%) of the consolidated assets of Kinderhook, (ii)&nbsp;any tender offer (including a self-tender offer) or exchange
offer that, if consummated, would result in a third party beneficially owning twenty-five percent (25%) or more of any class of
equity or voting securities of Kinderhook or any of its Subsidiaries whose assets, individually or in the aggregate, constitute
more than twenty-five percent (25%) of the consolidated assets of Kinderhook, (iii)&nbsp;any merger, consolidation, share exchange,
business combination, reorganization, recapitalization, liquidation, dissolution or other similar transaction involving Kinderhook
or any of its Subsidiaries whose assets, individually or in the aggregate, constitute more than twenty-five percent (25%) of the
consolidated assets of Kinderhook, or (iv)&nbsp;any other transaction the consummation of which could reasonably be expected to
impede, interfere with, prevent or materially delay the Merger or the Bank Merger or that could reasonably be expected to dilute
materially the benefits to Community of the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Affiliate</U>&rdquo;
of a Person shall mean any other Person directly, or indirectly through one or more intermediaries, controlling, controlled by
or under common control with such Person. For purposes of this definition, &ldquo;control&rdquo; (and its derivatives) shall mean
the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person,
whether through ownership of equity, voting or other interests, as trustee or executor, by Contract or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Benefit Plan</U>&rdquo;
shall mean any &ldquo;employee benefit plan&rdquo; (as that term is defined in Section&nbsp;3(3) of ERISA), including any plan
that is a &ldquo;multiemployer plan&rdquo; as defined in Section&nbsp;3(37) of ERISA, and any other employee benefit plan, policy,
or agreement, whether or not covered by ERISA, and any pension, retirement, profit-sharing, deferred compensation, equity compensation,
employment, stock purchase, gross-up, retention, incentive compensation, collective bargaining agreement, employee stock ownership,
severance, change in control, vacation, bonus, or deferred compensation plan, policy, or arrangement, any medical, vision, dental,
or other written health plan, any life insurance plan, fringe benefit plan, and any other employee program or agreement, whether
formal or informal or written or oral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>BHC Act</U>&rdquo;
shall mean the Bank Holding Company Act of 1956, as amended, and rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Business Day</U>&rdquo;
shall mean any day that the NYSE is normally open for trading for a full day and that is not a Saturday, a Sunday or a day on which
banks in New York, New York are authorized or required to close for regular banking business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Code</U>&rdquo;
shall mean the Internal Revenue Code of 1986, as amended, any successor statute thereto, and the rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Community Common
Stock</U>&rdquo; or &ldquo;Community Shares&rdquo; shall mean the $1.00 par value per share common stock of Community.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Confidentiality
Agreement</U>&rdquo; shall mean that certain Confidentiality Agreement, dated August&nbsp;13, 2018, by and between Community and
Kinderhook.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Consent</U>&rdquo;
shall mean any filing, notice, registration, consent, approval, authorization, clearance, exemption, waiver, or similar affirmation
with, to or by any Person pursuant to any Contract, Law, Order, or Permit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Contract</U>&rdquo;
shall mean any written or oral agreement, arrangement, commitment, contract, indenture, instrument, lease, understanding, note,
bond, license, mortgage, deed of trust or undertaking of any kind or character to which any Person is a party or that is binding
on any Person or its capital stock, assets, or business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Default</U>&rdquo;
shall mean (i)&nbsp;any breach or violation of or default under any Contract, Law, Order, or Permit, (ii)&nbsp;any occurrence of
any event that with the passage of time or the giving of notice or both would constitute a breach or violation of or default under
any Contract, Law, Order, or Permit, or (iii)&nbsp;any occurrence of any event that with or without the passage of time or the
giving of notice or both would give rise to a right to terminate or revoke, change the current terms of, or renegotiate, or to
accelerate, increase, or impose any Liability under, any Contract, Law, Order, or Permit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Environmental Laws</U>&rdquo;
shall mean all Laws relating to pollution or protection of human health or the environment (including ambient air, surface water,
ground water, land surface, or subsurface strata) and which are administered, interpreted, or enforced by the United States Environmental
Protection Agency and state and local agencies with jurisdiction over, and including common Law in respect of, pollution or protection
of the environment, including the Comprehensive Environmental Response, Compensation and Liability Act, as amended, the Resource
Conservation and Recovery Act, as amended, and other Laws relating to emissions, discharges, releases, or threatened releases of
any Hazardous Material, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal,
transport, or handling of any Hazardous Material, including all requirements for Permits, licenses and other authorizations that
may be required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>ERISA Affiliate</U>&rdquo;
of any Person means any entity that is, or at any relevant time was, treated as a single employer with such Person under Section&nbsp;414
of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Exchange Act</U>&rdquo;
shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Facilities</U>&rdquo;
shall mean all buildings and improvements on the property of any Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>FDIC</U>&rdquo;
shall mean the Federal Deposit Insurance Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Federal Reserve
Board</U>&rdquo; shall mean the Board of Governors of the Federal Reserve System (including any Federal Reserve Bank).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>FINRA</U>&rdquo;
shall mean the Financial Industry Regulatory Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>GAAP</U>&rdquo;
shall mean accounting principles generally accepted in the United States of America, consistently applied during the periods involved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Governmental Authority</U>&rdquo;
shall mean each Regulatory Authority and any other domestic or foreign court, arbitrator or arbitration panel, administrative agency,
commission or other governmental authority or instrumentality (including the staff thereof), or any industry self-regulatory authority
(including the staff thereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Hazardous Material</U>&rdquo;
shall mean (i)&nbsp;any hazardous substance, hazardous material, hazardous waste, regulated substance, or toxic substance (as those
terms are defined by any applicable Environmental Laws), and (ii)&nbsp;any chemicals, pollutants, contaminants, petroleum, petroleum
products that are or become regulated under any applicable local, state, or federal Law (and specifically shall include asbestos
requiring abatement, removal, or encapsulation pursuant to the requirements of governmental authorities and any polychlorinated
biphenyls).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Intellectual Property</U>&rdquo;
shall mean (i)&nbsp;any patents, copyrights, trademarks, service marks, maskworks or similar rights throughout the world, and applications
or registrations for any of the foregoing, (ii)&nbsp;any proprietary interest, whether registered or unregistered, in know-how,
copyrights, trade secrets, database rights, data in databases, website content, inventions, invention disclosures or applications,
software (including source and object code), operating and manufacturing procedures, designs, specifications and the like, (iii)&nbsp;any
proprietary interest in any similar intangible asset of a technical, scientific or creative nature, including slogans, logos and
the like and (iv)&nbsp;any proprietary interest in or to any documents or other tangible media containing any of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Intervening Event</U>&rdquo;
shall mean any material event or development or material change in circumstances with respect to Kinderhook and its Subsidiaries,
taken as a whole, that (i)&nbsp;arises or occurs after the date of this Agreement and was neither known by nor reasonably foreseeable
to the Kinderhook Board of Directors as of or prior to the date hereof and (ii)&nbsp;does not relate to (A)&nbsp;any Acquisition
Proposal, (B)&nbsp;any Requisite Regulatory Approval or (C)&nbsp;any of the matters identified in clauses&nbsp;<U>(A) &ndash; (E)</U>
of the definition of &ldquo;Material Adverse Effect.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Kinderhook Benefit
Plan</U>&rdquo; shall mean any Benefit Plan that is entered into, maintained by, sponsored in whole or in part by, or contributed
to by Kinderhook or any Subsidiary or ERISA Affiliate thereof, or under which Kinderhook or any Subsidiary or ERISA Affiliate thereof
could reasonably be expected to have any obligation or Liability, whether actual or contingent, with respect to any Service Provider.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Kinderhook Common
Stock</U>&rdquo; or &ldquo;<U>Kinderhook Common Shares</U>&rdquo; shall mean the $0.83 par value per share common stock of Kinderhook.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Kinderhook Financial
Statements</U>&rdquo; shall mean (i)&nbsp;the audited consolidated balance sheets (included related notes and schedules) of Kinderhook
as of December&nbsp;31, 2017, 2016 and 2015 and the consolidated statements of income, comprehensive income, changes in shareholders&rsquo;
equity and cash flows (including related notes and schedules, if any) of Kinderhook for each of the three (3) years ended December&nbsp;31,
2017, 2016 and 2015, and (ii)&nbsp;the unaudited interim consolidated balance sheets of Kinderhook as of the end of each calendar
quarter following December&nbsp;31, 2017, and the consolidated statements of income for the periods then ended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Kinderhook Preferred
Stock</U>&rdquo; or &ldquo;<U>Kinderhook Preferred Shares</U>&rdquo; shall mean the Series&nbsp;A Convertible Preferred Stock and
the Series&nbsp;C Convertible Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Kinderhook Shares</U>&rdquo;
shall mean the Kinderhook Common Shares and the Kinderhook Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Kinderhook Shareholders</U>&rdquo;
shall mean the holders of Kinderhook Common Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Kinderhook Shareholder
Approval</U>&rdquo; shall mean the adoption of this Agreement by the holders of at least sixty-six and two-thirds percent (66&nbsp;2/3%)
of the outstanding shares of Kinderhook Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Kinderhook Warrant</U>&rdquo;
shall mean the warrants originally issued pursuant to that certain organizer warrant agreement on December&nbsp;2, 2005 by Patriot
Federal Bank, to purchase shares of common stock, par value $1.00 per share, of Patriot Federal Bank at a price per share of $10.00,
as amended on October&nbsp;17, 2017 and evidenced by replacement certificates to purchase Kinderhook Common Stock at a price per
share of $33.34 expiring on May&nbsp;31, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Knowledge</U>&rdquo;
shall mean (i) with respect to Kinderhook, the knowledge of the individuals listed in <U>Section&nbsp;7.1</U> of the Kinderhook
Disclosure Letter, after reasonable inquiry, and (ii) with respect to Community, the knowledge of the individuals listed in <U>Section&nbsp;7.1</U>
of the Community Disclosure Letter, after reasonable inquiry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Law</U>&rdquo;
shall mean any code, law (including any rule of common law), ordinance, regulation, rule, or statute applicable to a Person or
its assets, Liabilities, or business, including those promulgated, interpreted, or enforced by any Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Liability</U>&rdquo;
shall mean any direct or indirect, primary or secondary, liability, indebtedness, obligation, penalty, cost, or expense (including
costs of investigation, collection, and defense), claim, deficiency, or guaranty of any type, whether accrued, absolute or contingent,
liquidated or unliquidated, matured or unmatured, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Lien</U>&rdquo;
shall mean any mortgage, pledge, claim, reservation, restriction (other than a restriction on transfers arising under the Securities
Laws), security interest, lien, or encumbrance of any nature whatsoever of, on, or with respect to any property or property interest,
other than Liens for property Taxes not yet due and payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Litigation</U>&rdquo;
shall mean any action, arbitration, cause of action, claim, complaint, criminal prosecution, demand letter, governmental or other
examination or investigation, hearing, inquiry, administrative or other proceeding, or notice (written or oral) by any Person alleging
potential Liability, but shall not include claims of entitlement under any Benefit Plans that are made or received in the ordinary
course of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Material Adverse
Effect</U>&rdquo; on Kinderhook or Community, as the case may be, shall mean a material adverse effect on (i)&nbsp;the condition
(financial or otherwise), property, business, assets (tangible or intangible), liabilities or results of operations of such Party
and its Subsidiaries taken as a whole or (ii)&nbsp;the ability of such Party and its Subsidiaries to perform their obligations
under this Agreement or to timely consummate the Merger, the Bank Merger or the other transactions contemplated by this Agreement;
<U>provided</U>, <U>however</U>, that &ldquo;Material Adverse Effect&rdquo; shall not be deemed to include for purposes of (i)&nbsp;above,
(A)&nbsp;changes after the date of this Agreement in GAAP or regulatory accounting requirements generally applicable to banks and
their holding companies, (B)&nbsp;changes after the date of this Agreement in Laws or interpretations of Laws by Governmental Authorities
of general applicability to banks and their holding companies, (C)&nbsp;changes after the date of this Agreement in general economic
or market conditions in the United States or any state or territory thereof, in each case generally affecting banks and their holding
companies, (D)&nbsp;changes after the date of this Agreement in market interest rates or (E)&nbsp;any failure to meet internal
projections or forecasts or estimates of revenues or earnings for any period, or any decline in the trading price of such Party&rsquo;s
common stock (it being understood that the circumstances giving rise to such failure or decline that are not otherwise excluded
from the definition of Material Adverse Effect may be taken into account in determining whether there has been a Material Adverse
Effect), except with respect to clauses&nbsp;(A), (B), (C) and (D) above to the extent that the effects of such changes are disproportionately
adverse to the condition (financial or otherwise), property, business, assets (tangible or intangible), liabilities or results
of operations of such Party and its Subsidiaries taken as a whole, as compared to other banks and their holding companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>New York Superintendent</U>&rdquo;
shall mean the Superintendent of the Department of Financial Services of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>NYSE</U>&rdquo;
shall mean the New York Stock Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>OCC</U>&rdquo;
shall mean the Office of the Comptroller of the Currency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Order</U>&rdquo;
shall mean any administrative decision or award, decree, injunction, judgment, order, quasi-judicial decision or award, ruling,
or writ of any federal, state, local, or foreign or other court, arbitrator, mediator, tribunal, administrative agency, or other
Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Organizational
Documents</U>&rdquo; shall mean the articles of incorporation, certificate of incorporation, charter, bylaws or other similar governing
instruments, in each case as amended as of the date specified, of any Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Party</U>&rdquo;
shall mean Community, Merger Sub or Kinderhook and &ldquo;Parties&rdquo; shall mean Community, Merger Sub and Kinderhook.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Permit</U>&rdquo;
shall mean any federal, state, local, and foreign governmental approval, authorization, certificate, easement, filing, franchise,
license, or permit from Governmental Authorities that are required for the operation of the businesses of a Person or its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Person</U>&rdquo;
shall mean any natural person or any legal, commercial, or governmental entity, including a corporation, general partnership, joint
venture, limited partnership, limited liability company, trust, business association, or person acting in a representative capacity,
as well as any syndicate or group that would be deemed to be a person under Section&nbsp;13(d)(3) of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Proxy Statement</U>&rdquo;
shall mean the proxy statement relating to the Kinderhook Shareholder Meeting (including any amendments or supplements thereto).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Regulatory Authorities</U>&rdquo;
shall mean, collectively, the Federal Trade Commission, the United States Department of Justice, the Federal Reserve Board (including
any Federal Reserve Bank), the OCC, the FDIC, the Consumer Financial Protection Bureau, the Internal Revenue Service, the New York
Superintendent, any state attorney general, all federal and state regulatory agencies having jurisdiction over the Parties and
their respective Subsidiaries, FINRA, and the SEC (including, in each case, the staff thereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Representative</U>&rdquo;
shall mean any investment banker, financial advisor, attorney, accountant, consultant, agent or other representative of a Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Rights</U>&rdquo;
shall mean, with respect to any Person, securities, or obligations convertible into or exercisable or exchangeable for, or giving
any other Person any right to subscribe for or acquire, or any options, calls, restricted stock, deferred stock awards, stock units,
phantom awards, dividend equivalents, or commitments relating to, or any stock appreciation right or other instrument the value
of which is determined in whole or in part by reference to the market price or value of, shares of capital stock of such Person,
whether vested or unvested or exercisable or unexercisable, and shall include Kinderhook Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>SEC</U>&rdquo;
shall mean the United States Securities and Exchange Commission or any successor thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>SEC Reports</U>&rdquo;
shall mean all forms, proxy statements, registration statements, reports, schedules, and other documents filed, or required to
be filed, by a Party or any of its Subsidiaries with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Securities Act</U>&rdquo;
shall mean the Securities Act of 1933, as amended, and the rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Securities Laws</U>&rdquo;
shall mean the Securities Act, the Exchange Act, the Investment Company Act of 1940, the Investment Advisers Act of 1940, and the
Trust Indenture Act of 1939, each as amended, state securities and &ldquo;Blue Sky&rdquo; Laws, including in each case the rules
and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Service Provider</U>&rdquo;
shall mean any current or former director, officer, employee or individual independent contractor or consultant of Kinderhook or
any of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Subsidiary</U>&rdquo;
or &ldquo;<U>Subsidiaries</U>&rdquo; shall have the meaning assigned in Rule 1-02(x) of Regulation S-X of the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Superior Proposal</U>&rdquo;
means any bona fide, unsolicited, written Acquisition Proposal for at least a majority of the outstanding shares of Kinderhook
Common Stock on terms that the Board of Directors of Kinderhook concludes in good faith to be more favorable from a financial point
of view to Kinderhook&rsquo;s shareholders than the Merger and the other transactions contemplated by this Agreement (including
the terms, if any, proposed by Community to amend or modify the terms of the transactions contemplated by this Agreement), (i)&nbsp;after
receiving the written advice of its financial advisor (which shall be a nationally recognized investment banking firm), (ii)&nbsp;after
taking into account the likelihood of consummation of such transaction on the terms set forth therein (as compared to, and with
due regard for, the terms herein) and (iii)&nbsp;after taking into account all legal (with the written advice of outside counsel),
financial (including the financing terms of any such proposal), regulatory and other aspects of such proposal (including any expense
reimbursement and break-up fee provisions and conditions to closing) and any other relevant factors permitted under applicable
Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Tax</U>&rdquo;
or &ldquo;<U>Taxes</U>&rdquo; shall mean all federal, state, local, and foreign taxes, charges, fees, levies, imposts, duties,
or other like assessments, including assessments for unclaimed property, as well as income, gross receipts, excise, employment,
sales, use, transfer, intangible, recording, license, payroll, franchise, severance, documentary, stamp, occupation, windfall profits,
environmental, federal highway use, commercial rent, customs duties, capital stock, paid-up capital, profits, withholding, Social
Security, single business and unemployment, disability, real property, personal property, registration, ad valorem, value added,
alternative or add-on minimum, estimated, or other tax or governmental fee of any kind whatsoever, or any amount in respect of
unclaimed property or escheat, imposed by or required to be paid or withheld by the United States or any state, local, or foreign
government or subdivision or agency thereof, whether disputed or not, including any related interest, penalties, and additions
imposed thereon or with respect thereto, and including any Liability for Taxes of another Person pursuant to a contract, as a transferee
or successor, under Treasury Regulation Section&nbsp;1.1502-6 or analogous provision of state, local or foreign Law or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Tax Return</U>&rdquo;
shall mean any report, return, information return, or other information provided or required to be provided to a Taxing Authority
in connection with Taxes, including any return of an Affiliated or combined or unitary group that includes a Party or its Subsidiaries
and including without limitation any estimated Tax return.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Taxable Period</U>&rdquo;
shall mean any period prescribed by any Taxing Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Taxing Authority</U>&rdquo;
shall mean any federal, state, local, municipal, foreign, or other Governmental Authority, instrumentality, commission, board or
body having jurisdiction over the Parties to impose or collect any Tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Technology Systems</U>&rdquo;
shall mean the electronic data processing, information, record keeping, communications, telecommunications, hardware, third-party
software, networks, peripherals, portfolio trading and computer systems, including any outsourced systems and processes, and Intellectual
Property used by Kinderhook.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
terms set forth below shall have the meanings ascribed thereto in the referenced sections:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 71%; padding-left: 9pt; text-indent: -9pt">Adverse Recommendation Change</TD>
    <TD STYLE="width: 29%">Section&nbsp;4.11(c)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Agreement</TD>
    <TD>Preamble</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Anti-Corruption Laws</TD>
    <TD>Section&nbsp;3.2(h)(v)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Anti-Money Laundering Laws</TD>
    <TD>Section&nbsp;3.2(h)(vi)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Appraisal Rights</TD>
    <TD>Section&nbsp;2.3(a)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Bank Merger</TD>
    <TD>Recitals</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Bank Merger Agreement</TD>
    <TD>Recitals</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Book-Entry Shares</TD>
    <TD>Section&nbsp;2.2(b)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Certificate of Merger</TD>
    <TD>Section&nbsp;1.4</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Closing</TD>
    <TD>Section&nbsp;1.3</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Closing Date</TD>
    <TD>Section&nbsp;1.3</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Continuing Employees</TD>
    <TD>Section&nbsp;4.13(a)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Community</TD>
    <TD>Preamble</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Community Bank</TD>
    <TD>Recitals</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Community Disclosure Letter</TD>
    <TD>Section&nbsp;3.1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">CRA</TD>
    <TD>Section&nbsp;3.2(p)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Delinquent Loans</TD>
    <TD>Section&nbsp;3.2(n)(ii)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Dissenting Shares</TD>
    <TD>Section&nbsp;2.3(a)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Effective Time</TD>
    <TD>Section&nbsp;1.4</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Exchange Fund</TD>
    <TD>Section&nbsp;2.2(a)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Expiration Date</TD>
    <TD>Section&nbsp;6.1(e)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Indemnified Party</TD>
    <TD>Section&nbsp;4.15(a)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">IRS</TD>
    <TD>Section&nbsp;3.2(j)(i)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Kinderhook</TD>
    <TD>Preamble</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Kinderhook Bank</TD>
    <TD>Recitals</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Kinderhook Certificates</TD>
    <TD>Section&nbsp;2.2(b)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Kinderhook Charter</TD>
    <TD>Section&nbsp;2.1(b)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Kinderhook Directors&rsquo; Recommendation</TD>
    <TD>Section&nbsp;3.2(b)(ii)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Kinderhook Disclosure Letter</TD>
    <TD>Section&nbsp;3.1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Kinderhook Owned Properties</TD>
    <TD>Section&nbsp;3.2(w)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Kinderhook Real Property</TD>
    <TD>Section&nbsp;3.2(w)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Kinderhook Reports</TD>
    <TD>Section&nbsp;3.2(d)(ii)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Kinderhook Restricted Share</TD>
    <TD>Section&nbsp;2.4(a)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Kinderhook Shareholder Meeting</TD>
    <TD>Section&nbsp;4.5(b)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Loans</TD>
    <TD>Section&nbsp;3.2(n)(i)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Materially Burdensome Regulatory Condition</TD>
    <TD>Section&nbsp;4.7(g)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Merger</TD>
    <TD>Recitals</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Merger Consideration</TD>
    <TD>Section&nbsp;2.1(a)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Merger Sub</TD>
    <TD>Preamble</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 71%; padding-left: 9pt; text-indent: -9pt">NYBCL</TD>
    <TD STYLE="width: 29%">Recitals</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">New York Secretary</TD>
    <TD>Section&nbsp;1.4</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Paying Agent</TD>
    <TD>Section&nbsp;2.2(a)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Permitted Liens</TD>
    <TD>Section&nbsp;3.2(w)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">PIFI</TD>
    <TD>Section&nbsp;3.2(q)(i)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Premium Cap</TD>
    <TD>Section&nbsp;4.15(b)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Proposed Dissenting Shares</TD>
    <TD>Section&nbsp;2.3(a)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">REIT</TD>
    <TD>Section&nbsp;3.2(f)(x)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Requisite Regulatory Approvals</TD>
    <TD>Section&nbsp;4.7(f)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Sanctions</TD>
    <TD>Section&nbsp;3.2(h)(viii)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Sanctioned Country</TD>
    <TD>Section&nbsp;3.2(h)(viii)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">SAR Rights</TD>
    <TD>Section&nbsp;3.2(c)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Series A Consideration</TD>
    <TD>Section&nbsp;2.1(b)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Series A Convertible Preferred Stock</TD>
    <TD>Section&nbsp;2.1(b)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Series C Consideration</TD>
    <TD>Section&nbsp;2.1(c)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Series C Convertible Preferred Stock</TD>
    <TD>Section&nbsp;2.1(c)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Shareholder Support Agreement</TD>
    <TD>Recitals</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Surviving Corporation</TD>
    <TD>Section&nbsp;1.1</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Takeover Laws</TD>
    <TD>Section&nbsp;3.2(u)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">Termination Fee</TD>
    <TD>Section&nbsp;6.2(a)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt">WARN</TD>
    <TD>Section&nbsp;3.2(i)(iii)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
singular term in this Agreement shall be deemed to include the plural, and any plural term the singular. Whenever the words &ldquo;include,&rdquo;
&ldquo;includes,&rdquo; or &ldquo;including&rdquo; are used in this Agreement, they shall be deemed followed by the words &ldquo;without
limitation.&rdquo; The words &ldquo;hereby,&rdquo; &ldquo;herein,&rdquo; &ldquo;hereof&rdquo; or &ldquo;hereunder,&rdquo; and similar
terms are to be deemed to refer to this Agreement as a whole and not to any specific section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Non-Survival
of Representations and Covenants</U></FONT>. The respective representations, warranties, obligations, covenants, and agreements
of the Parties shall be deemed only to be conditions of the Merger and shall not survive the Effective Time, except for <U>Section&nbsp;4.15</U>
and for those other covenants and agreements contained in this Agreement that by their terms apply or are to be performed in whole
or in part after the Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Expenses</U></FONT>.
Except as otherwise provided in <U>Section&nbsp;6.2</U>, each of the Parties shall bear and pay all direct costs and expenses incurred
by it or on its behalf in connection with the transactions contemplated hereunder, whether or not such transactions are consummated,
including filing, registration, and application fees, printing fees, and fees and expenses of its own financial or other consultants,
investment bankers, accountants, and counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Entire
Agreement</U></FONT>. Except as otherwise expressly provided herein, this Agreement (including the Kinderhook Disclosure Letter,
the Community Disclosure Letter and the Exhibits hereto) constitutes the entire agreement between the Parties with respect to the
transactions contemplated hereunder and supersedes all prior arrangements or understandings with respect thereto, written or oral,
other than the Confidentiality Agreement, which shall remain in effect. The representations and warranties in this Agreement are
the product of negotiations among the Parties and are for the sole benefit of the Parties. Any inaccuracies in such representations
and warranties are subject to waiver by the Parties in accordance herewith without notice or Liability to any other Person. In
some instances, the representations and warranties in this Agreement may represent an allocation among the Parties of risks associated
with particular matters regardless of the knowledge of any of the Parties. Consequently, Persons other than the Parties may not
rely upon the representations and warranties in this Agreement as characterizations of actual facts or circumstances as of the
date of this Agreement or as of any other date. Notwithstanding any other provision hereof to the contrary, no consent, approval,
or agreement of any third party beneficiary will be required to amend, modify or waive any provision of this Agreement. Nothing
in this Agreement, express or implied, is intended to confer upon any Person, other than the Parties or their respective successors,
any rights, remedies, obligations, or liabilities under or by reason of this Agreement; <U>provided</U> that, notwithstanding the
foregoing clause, following the Effective Time only (but not unless and until the Effective Time occurs), (i)&nbsp;the provisions
of <U>Section&nbsp;4.15</U> shall be enforceable by each Indemnified Party described therein, and (ii)&nbsp;each holder of Kinderhook
Common Stock and Kinderhook Preferred Stock, who properly surrenders his, her or its Kinderhook Common Stock or Kinderhook Preferred
Stock in accordance with <U>Article&nbsp;2</U>, shall have the right to receive the applicable Merger Consideration, Series&nbsp;A
Consideration or Series&nbsp;C Consideration, as applicable, and such right shall be enforceable by such holder of Kinderhook Common
Stock or Kinderhook Preferred Stock, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Amendments</U></FONT>.
Before the Effective Time, this Agreement may be amended by a subsequent writing signed by each of the Parties, whether before
or after the Kinderhook Shareholder Approval has been obtained, except to the extent that any such amendment would require the
approval of the shareholders of Kinderhook, unless such required approval is obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Waivers</U></FONT>.
(a)&nbsp;&nbsp;Prior to or at the Effective Time, either Party shall have the right to waive any Default in the performance of
any term of this Agreement by the other Party, to waive or extend the time for the compliance or fulfillment by the other Party
of any and all of such other Party&rsquo;s obligations under this Agreement, and to waive any or all of the conditions precedent
to its obligations under this Agreement, except any condition which, if not satisfied, would result in the violation of any Law.
No waiver by a Party shall be effective unless in writing signed by a duly authorized officer of such Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
failure of any Party at any time or times to require performance of any provision hereof shall in no manner affect the right of
such Party at a later time to enforce the same or any other provision of this Agreement. No waiver of any condition or of the breach
of any term contained in this Agreement in one or more instances shall be deemed to be or construed as a further or continuing
waiver of such condition or breach or a waiver of any other condition or of the breach of any other term of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Assignment</U></FONT>.
Except as expressly contemplated hereby, neither this Agreement nor any of the rights, interests, or obligations hereunder shall
be assigned by any Party without the prior written consent of the other Party. Subject to the preceding sentence, this Agreement
will be binding upon, inure to the benefit of, and be enforceable by the Parties and their respective successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Notices</U></FONT>.
All notices or other communications which are required or permitted hereunder shall be in writing and sufficient if delivered by
hand, by email, by registered or certified mail, postage pre-paid, or by courier or overnight carrier, to the Persons at the addresses
set forth below (or at such other address as may be provided hereunder), and shall be deemed to have been delivered as of the date
so delivered:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: -0.5in">To Community or Merger Sub:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Community Bank System, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">5790 Widewaters Parkway</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">DeWitt, New York 13214</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Email: Joe.Getman@communitybankna.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Attention: General Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: -0.5in">Copy to Counsel (which shall not
constitute notice):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Cadwalader, Wickersham &amp; Taft LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">200 Liberty Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">New York, New York 10281</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Email: Andrew.Alin@cwt.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Attention: Andrew P. Alin</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: -0.5in">To Kinderhook:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Kinderhook Bank Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">1 Hudson Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Kinderhook, NY 12106</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Email: jballi@nubk.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Attention: John Balli, CPA</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: -0.5in">Copy to Counsel (which shall not
constitute notice):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Cranmore, FitzGerald &amp; Meaney</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">49 Wethersfield Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Hartford, CT 06114</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Email: jcranmore@cfmlawfirm.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0in">Attention: J.J. Cranmore</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Governing
Law; Jurisdiction</U></FONT>. (a)&nbsp;&nbsp;This Agreement and all disputes or controversies arising out of or relating to this
Agreement and the transactions contemplated hereby shall be governed by, and construed in accordance with, the internal Laws of
the State of Delaware, without regard to any applicable conflicts of law principles that would result in the application of the
Laws of another jurisdiction; <U>provided</U> that matters relating to the fiduciary duties of the Board of Directors of Kinderhook
shall be subject to the Laws of the State of New York; <U>provided</U>, <U>further</U>, that the Laws of the United States shall
govern the consummation of the Bank Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the Parties hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the
Court of Chancery of the State of Delaware or, if under applicable Law, exclusive jurisdiction over such matters is vested in the
Federal courts, any Federal court located in the State of Delaware, and any appellate court from any thereof, in any action or
proceeding arising out of or relating to this Agreement or the agreements delivered in connection herewith or the transactions
contemplated hereby or thereby or for recognition or enforcement of any judgment relating thereto, and each of the Parties hereby
irrevocably and unconditionally (i)&nbsp;agrees not to commence any such action or proceeding except in such courts, (ii)&nbsp;agrees
that any claim in respect of any such action or proceeding may be heard and determined in such Court of Chancery or, to the extent
required by Law, in such Federal court, (iii)&nbsp;waives, to the fullest extent it may legally and effectively do so, any objection
which it may now or hereafter have to the laying of venue of any such action or proceeding in any such court, and (iv)&nbsp;waives,
to the fullest extent permitted by Law, (x)&nbsp;any claim that such Party is not personally subject to the jurisdiction of any
such court, (y)&nbsp;any claim that such Party and such Party&rsquo;s property is immune from any legal process issued by any such
court and (z)&nbsp;the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. Each
of the Parties agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by Law. Each Party irrevocably consents to service of process in the manner
provided for notices in <U>Section&nbsp;7.8</U> Nothing in this Agreement will affect the right of any Party to serve process in
any other manner permitted by Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Counterparts</U></FONT>.
This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original, but all of which together
shall constitute one and the same instrument. The exchange of copies of this Agreement and of signature pages by facsimile or electronic
transmission shall constitute effective execution and delivery of this Agreement as to the Parties and may be used in lieu of the
original Agreement for all purposes. Signatures of the parties transmitted by facsimile or electronic transmission shall be deemed
to be their original signatures for all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Captions</U></FONT>.
The captions contained in this Agreement are for reference purposes only and are not part of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Interpretations</U></FONT>.
Neither this Agreement nor any uncertainty or ambiguity herein shall be construed or resolved against any Party, whether under
any rule of construction or otherwise. No Party to this Agreement shall be considered the draftsman. The Parties acknowledge and
agree that this Agreement has been reviewed, negotiated, and accepted by all Parties and their attorneys and shall be construed
and interpreted according to the ordinary meaning of the words used so as fairly to accomplish the purposes and intentions of the
Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Severability</U></FONT>.
If any term or provision of this Agreement is determined by a court of competent jurisdiction to be invalid, void or unenforceable,
the remaining provisions hereof, or the application of such provision to Persons or circumstances other than those as to which
it has been held invalid or unenforceable, shall remain in full force and effect and in no way be affected, impaired or invalidated
thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially
adverse to any Party. Upon such determination, the Parties shall negotiate in good faith in an effort to agree upon a suitable
and equitable substitute provision to effect the original intent of the Parties. If any provision of this Agreement is so broad
as to be unenforceable, the provision shall be interpreted to be only so broad as is enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Waiver
of Jury Trial</U></FONT>. THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT THAT ANY PARTY MAY HAVE TO
TRIAL BY JURY IN RESPECT OF ANY PROCEEDING, LITIGATION OR COUNTERCLAIM BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH
THIS AGREEMENT OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY. IF
THE SUBJECT MATTER OF ANY LAWSUIT IS ONE IN WHICH THE WAIVER OF JURY TRIAL IS PROHIBITED, NO PARTY TO THIS AGREEMENT SHALL PRESENT
AS A NONCOMPULSORY COUNTERCLAIM IN ANY SUCH LAWSUIT ANY CLAIM BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT.
FURTHERMORE, NO PARTY TO THIS AGREEMENT SHALL SEEK TO CONSOLIDATE ANY SUCH ACTION IN WHICH A JURY TRIAL CANNOT BE WAIVED.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">Section&nbsp;7.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Specific
Performance</U></FONT>. The Parties agree that irreparable damage would occur for which there is no adequate remedy at law in the
event that any of the provisions of this Agreement were not performed in accordance with its specific terms or were otherwise breached.
Each Party agrees that, in the event of any breach or threatened breach by any other Party of any covenant or obligation contained
in this Agreement, the non-breaching Party shall be entitled to seek (a)&nbsp;a decree or order of specific performance to enforce
the observance and performance of such covenant or obligation, and (b)&nbsp;an injunction restraining such breach or threatened
breach.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">[<I>Remainder of Page Intentionally Left Blank</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF, each
of the Parties has caused this Agreement to be executed on its behalf as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 50%; text-indent: 0in"><B>COMMUNITY BANK SYSTEM, INC.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 3%; text-indent: 0in">By:</TD>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; text-indent: 0in">/s/ Mark E. Tryniski</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 6%; text-indent: 0in">Name:</TD>
    <TD STYLE="width: 41%; text-indent: 0in">Mark E. Tryniski</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title:</TD>
    <TD STYLE="text-indent: 0in">President and Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 50%; text-indent: 0in"><B>VB MERGER SUB INC.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 3%; text-indent: 0in">By:</TD>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; text-indent: 0in">/s/ Mark E. Tryniski</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 6%; text-indent: 0in">Name:</TD>
    <TD STYLE="width: 41%; text-indent: 0in">Mark E. Tryniski</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title:</TD>
    <TD STYLE="text-indent: 0in">President</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 50%; text-indent: 0in"><B>KINDERHOOK BANK CORP.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 3%; text-indent: 0in">By:</TD>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; text-indent: 0in">/s/ John Balli</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="width: 6%; text-indent: 0in">Name:</TD>
    <TD STYLE="width: 41%; text-indent: 0in">John Balli, CPA</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">Title:</TD>
    <TD STYLE="text-indent: 0in">President and Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">&nbsp;</P>



<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
