<SEC-DOCUMENT>0001144204-18-057073.txt : 20181102
<SEC-HEADER>0001144204-18-057073.hdr.sgml : 20181102
<ACCEPTANCE-DATETIME>20181102163413
ACCESSION NUMBER:		0001144204-18-057073
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20181101
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181102
DATE AS OF CHANGE:		20181102

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHORE BANCSHARES INC
		CENTRAL INDEX KEY:			0001035092
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				521974638
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22345
		FILM NUMBER:		181157517

	BUSINESS ADDRESS:	
		STREET 1:		18 EAST DOVER STREET
		CITY:			EASTON
		STATE:			MD
		ZIP:			21601-3013
		BUSINESS PHONE:		4108221400

	MAIL ADDRESS:	
		STREET 1:		18 EAST DOVER STREET
		CITY:			EASTON
		STATE:			MD
		ZIP:			21601-3013
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>tv506182_8k.htm
<DESCRIPTION>FORM 8-K
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</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"><B>FORM 8-K</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"><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
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>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):
November 2, 2018 (November 1, 2018)</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><U>SHORE BANCSHARES, INC.</U></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">&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: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><U>Maryland</U></TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><U>0-22345</U></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><U>52-1974638</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(State or other jurisdiction of</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Commission file number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">incorporation or organization)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Identification No.)</TD></TR>
</TABLE>
<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"><U>28969 Information Lane, Easton, Maryland
21601</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)
(Zip Code)</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">Registrant&rsquo;s telephone number, including
area code: <U>(410) 763-7800</U></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"><U>N/A</U></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 obligations of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0.25in"><FONT STYLE="font-family: Wingdings 2"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</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: 0.25in"><FONT STYLE="font-family: Wingdings 2"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</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: 0.25in"><FONT STYLE="font-family: Wingdings 2"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</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: 0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 16.75pt 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 16.75pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: 0.5in; text-align: right">Emerging growth company&#9;<FONT STYLE="font-family: Wingdings 2"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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. &#9;&#9;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings 2">&nbsp;</FONT>&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 5.02. Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 1, 2018, Shore Bancshares,
Inc. (the &ldquo;Company&rdquo;) entered into change in control agreements with Lloyd L. Beatty, Jr., President and Chief Executive
Officer of the Company, and Donna Stevens, Chief Operating Officer of the Company. Similarly, on such date, the Company&rsquo;s
wholly-owned subsidiary, Shore United Bank (the &ldquo;Bank&rdquo;), entered into a change in control agreement with Patrick M.
Bilbrough, President and Chief Executive Officer of the Bank (each a &ldquo;Change in Control Agreement&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Change in Control Agreements,
in the event the executive is terminated (i) by the Company or the Bank, as the case may be, without Cause, or (ii) by the executive
for Good Reason within 12 months of a Change in Control of the Company (the terms &ldquo;Cause,&rdquo; &ldquo;Change in Control&rdquo;
and &ldquo;Good Reason&rdquo; are defined in the Change in Control Agreements), the executive will be entitled to receive an amount
equal to 2.99 times the executive&rsquo;s base salary and bonus (not to include the exercise of any stock options) paid or scheduled
to be paid under the Company&rsquo;s annual incentive plan in the calendar year of the Change in Control in the case of Mr. Beatty,
2 times the executive&rsquo;s base salary and bonus (not to include the exercise of any stock options) paid or scheduled to be
paid under the Company&rsquo;s or Bank&rsquo;s annual incentive plan in the calendar year of the Change in Control in the case
of Ms. Stevens and Mr. Bilbrough. The Change in Control benefit will be paid in one lump sum on the 60<SUP>th</SUP> day following
termination of employment, provided that the executive has executed and delivered a release of claims and the statutory period
during which he or she may revoke that release has expired on or before that 60<SUP>th</SUP> day.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing description of the Change
in Control Agreements is a summary and is qualified in its entirety by reference to the Change in Control Agreements for Mr. Beatty,
Ms. Stevens and Mr. Bilbrough, which are attached as Exhibits 10.1, 10.2 and 10.3, respectively, to this Current Report on Form
8-K and are incorporated into this Item 5.02 by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 9.01. Financial Statements and
Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</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: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits</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">The exhibits that are filed or furnished with this report are
listed in the Exhibit Index that immediately follows the signatures hereto, which list is incorporated herein by reference.</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">&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">&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>

<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%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">SHORE BANCSHARES, INC.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 51%">Dated: November 2, 2018</TD>
    <TD STYLE="width: 3%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Lloyd L. Beatty, Jr.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid">Lloyd L. Beatty, Jr.<BR>
President and Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<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">EXHIBIT INDEX</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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">Exhibit No.</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 5.4pt"><A HREF="tv506182_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tv506182_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Change in Control Agreement, dated November 1, 2018, by and between Lloyd L. Beatty, Jr. and Shore Bancshares, Inc.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 5.4pt"><A HREF="tv506182_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.2</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tv506182_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Change in Control Agreement, dated November 1, 2018, by and between Donna Stevens and Shore Bancshares, Inc.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 5.4pt"><A HREF="tv506182_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.3</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="tv506182_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Change in Control Agreement, dated November 1, 2018, by and between Patrick M. Bilbrough and Shore United Bank</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-indent: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</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">&nbsp;</P>



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

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<FILENAME>tv506182_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>THIS CHANGE IN CONTROL
AGREEMENT</B> (this &ldquo;<I>Agreement</I>&rdquo;), dated November 1, 2018 (the &ldquo;<I>Effective Date</I>&rdquo;), is entered
into by and between Shore Bancshares, Inc., a corporation organized under the laws of Maryland (the &ldquo;<I>Corporation</I>&rdquo;),
and Lloyd L. Beatty, Jr. (the <I>&ldquo;Executive&rdquo;</I>).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Executive is employed by the Corporation as President and Chief Executive Officer;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Corporation desires to be ensured of the Executive&rsquo;s continued active participation in the business of the Corporation; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, in
order to induce the Executive to remain in the employ of the Corporation and in consideration of the Executive&rsquo;s agreeing
to remain in the employ of the Corporation, the parties desire to specify the change in control payment which shall be due to Executive
in the event that the Executive&rsquo;s employment with the Corporation is terminated in the specified circumstances covered by
this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW THEREFORE</B>,
in consideration of the mutual covenants and agreements of the parties contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Executive and the Corporation agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Term</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Corporation agrees to employ the Executive as an at-will employee, and the Executive agrees to be employed by the Corporation
as an at-will employee, subject to the terms and conditions of this Agreement.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The initial term of this Agreement shall be for 12 months commencing on the Effective Date (the &ldquo;<I>Initial Term</I>&rdquo;).
Upon the expiration of the Initial Term, this Agreement shall automatically renew for successive terms of 12 months each (each
such renewal term, together with the Initial Term, a &ldquo;<I>Term</I>&rdquo;) without further action by the parties, unless either
party shall have served written notice on the other party at least 60 days prior to the commencement of a new Term of such party&rsquo;s
decision not to renew this Agreement. At least 120 days prior to the commencement of a new Term, the Board of Directors of the
Corporation (&ldquo;<I>Board</I>&rdquo;) or a committee thereof will conduct a comprehensive performance evaluation and review
of Executive to determine whether to give notice of non-renewal as provided herein. The evaluation and review shall be documented
in the minutes of the Board or the committee thereof. For purposes of clarity, in the event the Board decides not to renew this
Agreement and provides proper notice as set forth above, the Executive shall remain an at-will employee of the Corporation following
the termination of this Agreement unless the Executive&rsquo;s employment is sooner terminated.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">&nbsp;</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
While employed by the Corporation, the Executive shall (i) perform such services for the Corporation as may be consistent with
the Executive&rsquo;s title and such services which are from time to time assigned to the Executive by the Corporation&rsquo;s
Board and (ii) devote the Executive&rsquo;s entire business time, attention, skill and energy exclusively to the business of the
Corporation. While employed by the Corporation, the Executive shall not engage or prepare to engage in any other business activity,
whether or not such business activity is pursued for gain, profit or other economic or financial advantage; provided, however,
that the Executive may engage in appropriate civic, charitable or religious activities and devote a reasonable amount of time to
private investments or boards or other activities provided that such activities do not interfere or conflict with the Executive&rsquo;s
responsibilities. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Change in Control Payment</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If within 12 months after any Change in Control (as hereinafter defined) of the Corporation, the Executive&rsquo;s employment with
the Corporation is terminated by the Corporation without Cause (as hereinafter defined) or Executive terminates his employment
for Good Reason (as hereinafter defined), the Executive shall be paid an amount equal to 2.99 times the Executive&rsquo;s base
salary and bonus (not to include the exercise of any stock options) paid or scheduled to be paid under the Corporation&rsquo;s
or a subsidiary&rsquo;s annual incentive plan in the calendar year of the Change in Control. Subject to Section 2(h), said sum
shall be paid to the Executive in one lump sum on the 60<SUP>th</SUP> day following the Executive&rsquo;s termination, provided
that the Executive has executed and submitted a release of claims and the statutory period during which Executive is entitled to
revoke the release of claims has expired on or before that 60<SUP>th</SUP> day. In addition, all unexercised or unvested equity
awards, or portions thereof, held by the Executive as of the date of termination shall vest or terminate and be exercisable in
accordance with their terms. The termination of the Executive&rsquo;s employment hereunder shall not impair any rights of the Executive
under any employee benefit or fringe benefit plans that have vested as of the date of termination, which said rights shall be administered
after termination of employment in accordance with the terms of such plans.</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; text-align: justify"><FONT STYLE="font-weight: normal">The Corporation
and the Executive intend that all benefits payable to the Executive as the result of a Change in Control, or for Good Reason whether
payable under this Agreement or under any other benefit, compensation, or incentive plan or arrangement with the Executive or the
Corporation, shall not be subject to the excise tax under Sections 280G and 4999 of the Internal Revenue Code of 1986 (the &ldquo;Code&rdquo;)
and shall be deductible by the Corporation. If all or any portion of the benefits payable to the Executive under this Agreement,
either alone or together with other benefits to which the Executive is entitled, constitute excess parachute payments within the
meaning of Section 280G of the Code and are therefore subject to the excise tax imposed by Section 4999 of the Code or loss of
the compensation deduction as the result of Section 280G of the Code, the Corporation and the Executive agree that benefits payable
under this Agreement shall be reduced as necessary for the purpose of avoiding application of Sections 280G and 4999 of the Code.
Any such reduction shall be made by the Corporation in its sole discretion consistent with the requirements of Section 409A of
the Code. If, notwithstanding the initial application of this Section 2, the Internal Revenue Service determines that any covered
payment constitutes an excess parachute payment (as defined by Section 280G(b) of the Code), this Section 2 will be reapplied based
on the Internal Revenue Service's determination, and the Executive will be required to promptly repay the portion of the covered
payments required to avoid imposition of an excise tax. Any determination required under this Section 2, including whether any
payments or benefits are parachute payments, shall be made by the Corporation in its sole discretion.</FONT></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">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Cause</U>. For purposes of this Agreement, the term &ldquo;<I>Cause</I>&rdquo; means: (i) the Executive&rsquo;s &ldquo;Disability&rdquo;
(as hereinafter defined); (ii) an action or failure to act by the Executive constituting fraud, misappropriation or damage to the
property or business of the Corporation; (iii) conduct by Executive that amounts to fraud, personal dishonesty or breach of fiduciary
duty; (iv) Executive&rsquo;s conviction (from which no appeal may be, or is, timely taken) of a felony or willful violation of
any law, rule or regulation (other than traffic violations or similar offenses); (v) the Executive&rsquo;s breach of any of his
obligations hereunder; (vi) the unauthorized use, misappropriation or disclosure by the Executive of any Confidential Information
(as hereinafter defined) of the Corporation or of any confidential information of any other party to whom the Executive owes an
obligation of nondisclosure as a result of his relationship with the Corporation; (vii) the willful violation of any final cease
and desist or consent order; (viii) a knowing violation by Executive of federal and state banking laws or regulations which is
likely to have a material adverse effect on the Corporation, as determined by the Board; (ix) the determination by the Board, in
the exercise of its reasonable judgment and in good faith, that Executive&rsquo;s job performance is substantially unsatisfactory
and that he has failed to cure such performance within a reasonable period (but in no event more than thirty (30) days) after written
notice specifying in reasonable detail the nature of the unsatisfactory performance; (x) Executive&rsquo;s material breach of any
of the Corporation&rsquo;s written policies; or (xi) the issuance of any order by the Maryland Commissioner of Financial Regulation,
the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, or any other supervisory agency
with jurisdiction over the Corporation permanently prohibiting the continued service of the Executive with the Corporation. No
act or failure to act on the part of the Executive shall be considered &ldquo;willful&rdquo; unless it is done, or omitted to be
done, by the Executive in bad faith or without reasonable belief that the Executive&rsquo;s action or omission was in the best
interests of the Corporation. Any act or failure to act that is based upon authority given pursuant to a resolution duly adopted
by the Board, or upon the advice of legal counsel for the Corporation, shall be conclusively presumed to be done, or omitted to
be done, by the Executive in good faith and in the best interest of the Corporation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Disability</U>. For purposes of this Agreement, the term &ldquo;<I>Disability</I>&rdquo; shall have the meaning given to such
term in the long-term disability policy available to Executives of the Corporation, as amended or replaced from time to time. </FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Change in Control</U>. For purposes of this Agreement, a &ldquo;<I>Change in Control</I>&rdquo; shall be deemed to have occurred
if the conditions set forth in any one of the following paragraphs shall have been satisfied:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any one person, or more than one person acting as a group, acquires ownership of securities of the Corporation that, together with
securities held by such person or group, constitutes more than 50 percent (50%) of the total fair market value or total voting
power of the securities of the Corporation;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
either (A) any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending
on the date of the most recent acquisition by such person or persons) ownership of securities of the Corporation possessing 35
percent (35%) or more of the total voting power of the securities of the Corporation; or (B) a majority of members of the Board
of the Corporation is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority
of the members of the Board of Directors of the Corporation, as the case may be, prior to the date of the appointment or election;
or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date
of the most recent acquisition by such person or persons) assets from the Corporation that have a total gross fair market value
equal to or more than 40 percent (40%) of the total gross fair market value of all of the assets of the Corporation, as the case
may be, immediately prior to such acquisition or acquisitions. For this purpose, gross fair market value means the value of the
assets of the Corporation, as the case may be, or the value of the assets being disposed of, determined without regard to any liabilities
associated with such assets.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Notwithstanding the foregoing,
the acquisition of ownership or control of voting stock of the Corporation, individually or collectively, by the Corporation or
one of its affiliates or any benefit plan sponsored by the Corporation or any of its affiliates shall not constitute a Change in
Control.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Good Reason</U>. For purposes of this Agreement, the term &ldquo;<I>Good Reason</I>&rdquo; shall mean termination by the Executive
within 12 months following a Change in Control based on:</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; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Without the Executive&rsquo;s express written consent, a material adverse change made by the Corporation which would reduce the
Executive&rsquo;s functions, duties or responsibilities as President of the Corporation.</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; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Without the Executive&rsquo;s express written consent, a 5% or greater reduction by the Corporation in the Executive&rsquo;s Base
Salary as the same may be increased from time to time; or</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; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Without the Executive&rsquo;s express written consent, the Corporation requires the Executive to be based at a location more than
50 miles from Easton, Maryland (which requirement shall be deemed to be a material change in the geographic location at which the
Executive must perform services for the Corporation), except for required travel on business of the Corporation to an extent substantially
consistent with the Executive&rsquo;s present business travel obligations.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Good Reason shall, for all purposes under
this Agreement, be construed and administered in manner consistent with the definition of &ldquo;good reason&rdquo; under Treasury
Regulation &sect;1.409A-1(n).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Full Compensation</U>. The payments made pursuant to this Section 2 shall be considered full compensation in payment for all
claims under this Agreement, and the Executive shall not be entitled to any other compensation. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Deduction for Amounts Due Corporation</U>. Upon termination of the Executive&rsquo;s employment with the Corporation, subject
to any restrictions imposed by applicable law, the Corporation shall have the right to deduct from the amount due the Executive
any amounts which the Executive owes the Corporation. Such right shall apply only to debts that were incurred in the ordinary course
of the employment relationship and in no event shall the Corporation have the right to deduct an amount in excess of $5,000 in
any year from any payment that would be considered deferred compensation under Section 409A of the Code. In no event shall the
Corporation have the discretion to deduct any amount pursuant to this Section 2(g) to the extent such deduction would be considered
a prohibited acceleration under Section 409A of the Code. Any offset under this Section 2(g) shall comply with Section 1.409A &ndash;
2(j)(4)(xiii) of the Treasury Regulations.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Compliance with Section 409A of the Code</U>. This Agreement is intended to comply with Section 409A of the Code and its corresponding
regulations, or an exemption, and payments may only be made in a manner permitted by Section 409A of the Code, to the extent applicable.
Severance benefits under the Agreement are intended to be exempt from Section 409A to the maximum extent possible under the &quot;separation
pay exception, the &ldquo;short-term deferral exception,&rdquo; or another exception under Section 409A of the Code. For purposes
of Section 409A of the Code, the right to a series of installment payments under this Agreement shall be treated as a right to
a series of separate payments. In no event may the Executive, directly or indirectly, designate the calendar year of a payment.
If a payment obligation under this Agreement arises on account of the termination of Executive&rsquo;s employment hereunder while
the Executive is a &ldquo;specified employee&rdquo; (as defined under Section 409A of the Code, and determined in good faith by
the Corporation), any payment of &ldquo;deferred compensation&rdquo; (as defined in Treasury Regulation Section 1.409A-1(b)(1),
after giving effect to the exemptions in Treasury Regulation Sections 1.409A-1(b)(3) through (b)(12)) that is scheduled to be paid
within six (6) months after such termination of employment shall be paid, with interest, in a lump sum, within 15 days after the
end of the six-month period beginning on the date of such termination or, if earlier, within 15 days after the appointment of the
personal representative or executor of the Executive&rsquo;s estate following his death. </FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Non-Solicitation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Restrictive Covenants</U>. During the Executive&rsquo;s employment with the Corporation and for 12 months after the Executive
ceases, for any reason, to be an employee of the Corporation, the Executive shall not, directly or indirectly, as owner, partner,
director, officer, employee, agent, consultant, advisor, contractor or otherwise, whether for consideration or without consideration,
for the benefit of any individual, group, corporation, partnership, trust, association, joint venture, pool, syndicate, sole proprietorship,
unincorporated organization or any other form of entity not specifically listed herein (a &ldquo;<I>Person</I>&rdquo;) other than
for the Corporation and/or any of its affiliates (the &ldquo;<I>Employer Group</I>&rdquo;), take any of the following actions:
</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
solicit any Business Relation (as hereinafter defined) to purchase, or sell or otherwise provide to any Business Relation, any
products or services which are comparable to, or which are intended to substitute for, products or services offered by the Corporation
and/or any of its affiliates (the &ldquo;Non-Compete Group&rdquo;) during the Executive&rsquo;s employment with the Corporation;
</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
employ, engage or solicit for employment or for engagement as an independent contractor or consultant, any Person who was employed
by, or any Person who was engaged as an independent contractor by, any member of the Non-Compete Group during the preceding 24
months;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
employ, engage or solicit for employment any employee of the Corporation, whether or not such employee is a full-time employee
or a temporary employee of the Corporation and whether or not such employment is pursuant to written agreement and whether or not
such employment is for a determined period or is at will; or</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; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
encourage any Person to reduce its business with any member of the Non-Compete Group or to reduce its employment with or provision
of services to any member of the Non-Compete Group.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#9;Provided, however,
that nothing in this Section 3(a) shall be deemed to prevent or limit the right of the Executive to own up to a five percent (5%)
interest in the securities of a Person that are registered under Section 12 of the Securities Exchange Act of 1934, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Business Relation Defined</U>. For purposes of this Agreement, the term &ldquo;<I>Business Relation</I>&rdquo; means any Person
who, at any time during the Executive&rsquo;s employment with the Corporation, was a Person (i) that is or was a customer of any
member of the Non-Compete Group, (ii) that had entered into any contract or other arrangement with any member of the Non-Compete
Group for the provision of services or the sale of products, (iii) to whom any member of the Non-Compete Group furnished or planned
to furnish a proposal for the performance of services or the sale of products, or (iv) with whom any member of the Non-Compete
Group entered or agreed to enter into any other business relationship such as a joint venture, collaborative agreement, joint development
agreement, teaming arrangement or agreement, or similar arrangement or understanding for the provision of services or sale of products.
</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Covenant</U>. The Executive acknowledges that his relationship with the Corporation shall of necessity provide him with
specialized knowledge concerning the Employer Group, which, if used for the benefit of others or disclosed to others, could cause
serious harm to the Employer Group. Accordingly, the Executive covenants that he shall not at any time, directly or indirectly,
use, appropriate or disclose to others, or permit the use of or appropriation by or disclosure to others of, any Confidential Information
(as hereinafter defined) except as expressly provided herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Permitted Use</U>. While employed with the Corporation, the Executive may use Confidential Information only for the purpose
that is necessary to the carrying out of the Executive&rsquo;s duties as set forth herein or assigned to him by the Corporation,
and the Executive may not make use of any Confidential Information after he is no longer an employee of the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information Defined</U>. For purposes of this Agreement, the term &ldquo;<I>Confidential Information</I>&rdquo;
means all information of any member of the Employer Group, whether oral, written, computerized, digitized or otherwise, regarding
the business of the Employer Group, including, without limitation, information regarding the Employer Group&rsquo;s customers,
referral sources, insurance carriers, sales and marketing information, costs, prices, earnings, business plans, financial information
and forecasts, contracts, business arrangements, methods of operation, business strategies, prospects, and Intellectual Property
(as hereinafter defined), whether or not such information is deemed &ldquo;trade secrets&rdquo; under applicable law. Confidential
Information does not include information that (i) becomes generally available to the public other than as a result of disclosure
by the Executive in violation of this Agreement, (ii) was available to the public on a non-confidential basis from a source other
than the Employer Group, (iii) is made available to a third party on a non-confidential basis by the Employer Group, (iv) was already
known to the Executive at the time of disclosure by the Employer Group, or (v) is required to be disclosed by legal process or
applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Intellectual Property</U>. The Executive agrees that any and all information, reports, other documents and other works
(whether in an electronic format or otherwise) created by the Executive for or on behalf of the Corporation during the Executive&rsquo;s
service with the Corporation, whether or not developed on the Corporation&rsquo;s premises or equipment or during the Corporation&rsquo;s
normal business hours (the &ldquo;<I>Intellectual Property</I>&rdquo;), are and shall remain works made for hire and the sole and
exclusive property of the Corporation. To the extent that such Intellectual Property is not considered work made for hire, the
Executive hereby assigns to the Corporation (or its nominee) any and all interest that the Executive may now or in the future have
in the Intellectual Property. Upon request by the Corporation, the Executive shall execute and deliver to the Corporation any document
or instrument that may be necessary to secure or perfect the Corporation&rsquo;s title to or interest in any Intellectual Property
so assigned.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Return of Property</U>. The Executive agrees that upon termination of his employment with the Corporation, he will:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>promptly return to the Corporation all Confidential Information, all Intellectual Property, and all other property of the
Corporation, including but not limited to all correspondence, manuals, notebooks, lists of customers and suppliers, computer programs,
disks and any documents, materials or property, whether written or stored on computerized medium, and all copies in his possession
or control;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>not take any action to preserve or regain access to such information through any means, including but not limited to access
to the Corporation&rsquo;s facilities or through a computer or other digital or electronic means; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>promptly pay all amounts due, owing or otherwise payable by him to the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Executive expressly
authorizes the Corporation to withhold any amounts payable to him, including for compensation, reimbursement and otherwise, until
he has complied with this Section 6, subject to the terms of Section 2(g).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Disparaging Statements</U>. During the Executive&rsquo;s employment with the Corporation and for 12 months after the
Executive ceases to be an employee of the Corporation, the Executive will not make any statements or comments of a disparaging
nature to third parties regarding any member of the Employer Group or its officers, directors, personnel or products.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Executive&rsquo;s Representations and Warranties</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Prior Agreements</U>. The Executive represents and warrants that he is not a party to or otherwise subject to or bound
by the terms of any contract, agreement or understanding which in any manner would limit or otherwise affect his ability to perform
his obligations hereunder, including without limitation any contract, agreement or understanding containing terms and provisions
similar in any manner to those contained in Sections 3, 4, 5 or 7 of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information of Others</U>. The Executive represents, warrants and covenants that he will not disclose to
the Corporation, or otherwise use in the course of his service with the Corporation, any confidential information which he is restricted
from disclosing or using pursuant to any other agreement or duty to any other person.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Remedies</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Arbitration of Disputes</U>. If a dispute arises with respect to the enforcement or interpretation of any provision of this
Agreement (other than a dispute to be resolved under Section 9(b)), then the parties hereto agree to submit the dispute to non-appealable
binding arbitration. Such arbitration shall be conducted before a board of three arbitrators, with one member selected by the Executive,
one member selected by the Employer, and the third member selected by the first two arbitrators. The party responsible for the
payment of the costs of such arbitration (including any legal fees and expenses incurred by the Executive) shall be determined
by the board of arbitrators. The board of arbitrators shall be bound by the rules of the American Arbitration Association in making
its determination. The parties hereto agree that they and their heirs, personal representatives, successors, and assigns shall
be bound by the decision of such board of arbitrators with respect to any controversy properly submitted to it for determination.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Disputes Arising Under Sections 4 Through 8</U>. The Executive recognizes that a violation by him of any provision of Sections
4 through 8, inclusive, of this Agreement may cause irreparable injury to the Corporation, and that there may be no adequate remedy
at law for such violation. Therefore, the Executive agrees that, in addition to any other remedies for its violation hereof available
to the Corporation, which shall include the recovery of all damages incurred, as well as reasonable attorney&rsquo;s fees and other
costs, the Corporation shall have the right, in the event of the breach or threatened breach of any provision hereof by the Executive
to obtain an injunction and/or temporary restraining order against such breach or threatened breach or specifically enforce this
Agreement. The Corporation&rsquo;s rights and remedies specified in this Section 9(b) are in addition to and not in lieu of any
rights available under applicable law and regulations, including, without limitation, those laws and regulations governing trade
secrets and other proprietary information.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Withholding of Taxes</U>. All compensation and benefits payable pursuant to this Agreement shall be subject to all applicable
tax withholding requirements.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Compliance with Banking Laws</U>. Any payments made to the Executive pursuant to this Agreement, or otherwise, are subject to,
and conditioned upon their compliance with 12 U.S.C. Section 1828(k) and any regulations promulgated thereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Suspension of Employment by Regulators</U>. In the event the Executive is temporarily prohibited from participating in the conduct
of the affairs of the Corporation pursuant to notice served by a regulatory agency having jurisdiction over the Corporation, unless
stayed by appropriate proceedings, then the Corporation&rsquo;s obligations under this Agreement shall be suspended and the Executive
shall have no right to any payment of compensation, as of the date such notice is served on the Corporation. If the charges specified
in any such notice shall be dismissed, then the Corporation shall (i) pay the Executive any compensation withheld from the Executive
pursuant to the suspension of the Corporation&rsquo;s obligations as required by this Section 10(c) as soon as practicable following
the completion of continued employment for 30 days following such dismissal and (ii) reinstate the obligations so suspended.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Entire Agreement; Amendment</U>. This Agreement supersedes all prior agreements, written and oral, between the parties with
respect to its subject matter, is intended as a complete and exclusive statement of the terms of the agreement between the parties
with respect thereto, and may be amended only by a writing signed by both parties hereto. The Corporation and the Executive agree
to execute any and all amendments to this Agreement permitted under applicable law that the Corporation&rsquo;s legal counsel determines
to be necessary to ensure compliance with the distribution provisions of Section 409A of the Code or to otherwise ensure that this
Agreement complies with Section 409A of the Code.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Nonwaiver</U>. The failure of either party to insist upon strict adherence to any term of this Agreement on any occasion will
not operate as a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other
term of this Agreement. Any waiver must be in a writing signed by the party to be charged therewith.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Assignment</U>. The Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their successors
and assigns and their representatives. This Agreement may not be assigned by either party without the consent of the other party,
except that the Corporation may assign all of its rights and delegate performance of all of its obligations hereunder in connection
with a Change in Control. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each of which will be an original, but all of
which together will constitute the same instrument.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Headings</U>. The headings in this Agreement are for convenience of reference only and should not be given any effect in the
interpretation of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Governing Law</U>. This Agreement shall be governed in all respects whether as to validity, construction, capacity, performance
or otherwise, by the laws of the State of Maryland, without regard to any provision that would result in the application of the
laws of any other state or jurisdiction, except to the extent that Federal law shall be deemed to apply. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Interpretation</U>. This Agreement is intended to comply with, or otherwise be exempt from, Section 409A of the Code and any
regulations and Treasury guidance promulgated thereunder. If the Corporation determines in good faith that any provision of this
Agreement would cause the Executive to incur an additional tax, penalty, or interest under Section 409A of the Code, then the Corporation
and the Executive shall use reasonable efforts to reform such provision, if possible, in a mutually agreeable fashion to maintain
to the maximum extent practicable the original intent of the applicable provision without violating the provisions of Section 409A
of the Code or causing the imposition of such additional tax, penalty, or interest under Section 409A of the Code. As used in this
Agreement, the terms &ldquo;termination of employment&rdquo;, &ldquo;resignation&rdquo; and words of similar import mean, for purposes
of any payments under this Agreement that are payments of deferred compensation subject to Section 409A of the Code, the Executive&rsquo;s
 &ldquo;separation from service&rdquo; as defined in Section 409A of the Code.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Severability</U>. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision
shall not affect the validity and enforceability of the other provisions hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Employer Policies, Plans and Programs</U>. Except as expressly provided otherwise in this Agreement, whenever any rights under
this Agreement depend on the terms of a policy, plan, or program established or maintained by the Employer Group, any determination
of such rights will be made on the basis of the policy, plan, or program in effect at the time as of which such determination is
made. No reference in this Agreement to any policy, plan, or program established or maintained by the Employer Group precludes
any member of the Employer Group from prospectively or retroactively changing or amending or terminating that policy, plan, or
program or adopting a new policy, plan, or program in lieu of the then existing policy, plan, or program.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Survival of Terms</U>. The provisions of Sections 2 through 7, inclusive, and Sections 9 and 10 of this Agreement shall survive
the termination of the Executive&rsquo;s employment hereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the parties have executed this Agreement as of the date written above.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; text-align: justify"><B>ATTEST:</B></TD>
    <TD STYLE="width: 12%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 44%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="text-transform: uppercase"><B>SHORE BANCSHARES, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">/s/ W. David Morse</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">By:&nbsp;/s/ Donna J. Stevens</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">W. David Morse, Secretary</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Donna J. Stevens</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&nbsp;&nbsp;&nbsp; SVP/COO</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>WITNESS:</B></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left"><B>EXECUTIVE:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid"> /s/ W. David Morse</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Lloyd L. Beatty, Jr</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">W. David Morse, Secretary</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Lloyd L. Beatty, Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>tv506182_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="margin: 0; text-align: left"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>THIS CHANGE IN CONTROL
AGREEMENT</B> (this &ldquo;<I>Agreement</I>&rdquo;), dated November 1, 2018 (the &ldquo;<I>Effective Date</I>&rdquo;), is entered
into by and between Shore Bancshares, Inc., a corporation organized under the laws of Maryland (the &ldquo;<I>Corporation</I>&rdquo;),
and Donna Stevens (the <I>&ldquo;Executive&rdquo;</I>).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Executive is employed by the Corporation as Chief Operating Officer;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Corporation desires to be ensured of the Executive&rsquo;s continued active participation in the business of the Corporation; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, in
order to induce the Executive to remain in the employ of the Corporation and in consideration of the Executive&rsquo;s agreeing
to remain in the employ of the Corporation, the parties desire to specify the change in control payment which shall be due to Executive
in the event that the Executive&rsquo;s employment with the Corporation is terminated in the specified circumstances covered by
this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW THEREFORE</B>,
in consideration of the mutual covenants and agreements of the parties contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Executive and the Corporation agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Term</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Corporation agrees to employ the Executive as an at-will employee, and the Executive agrees to be employed by the Corporation
as an at-will employee, subject to the terms and conditions of this Agreement.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The initial term of this Agreement shall be for 12 months commencing on the Effective Date (the &ldquo;<I>Initial Term</I>&rdquo;).
Upon the expiration of the Initial Term, this Agreement shall automatically renew for successive terms of 12 months each (each
such renewal term, together with the Initial Term, a &ldquo;<I>Term</I>&rdquo;) without further action by the parties, unless either
party shall have served written notice on the other party at least 60 days prior to the commencement of a new Term of such party&rsquo;s
decision not to renew this Agreement. At least 120 days prior to the commencement of a new Term, the Board of Directors of the
Corporation (&ldquo;<I>Board</I>&rdquo;) or a committee thereof will conduct a comprehensive performance evaluation and review
of Executive to determine whether to give notice of non-renewal as provided herein. The evaluation and review shall be documented
in the minutes of the Board or the committee thereof. For purposes of clarity, in the event the Board decides not to renew this
Agreement and provides proper notice as set forth above, the Executive shall remain an at-will employee of the Corporation following
the termination of this Agreement unless the Executive&rsquo;s employment is sooner terminated.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal"></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; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
While employed by the Corporation, the Executive shall (i) perform such services for the Corporation as may be consistent with
the Executive&rsquo;s title and such services which are from time to time assigned to the Executive by the Corporation&rsquo;s
President and (ii) devote the Executive&rsquo;s entire business time, attention, skill and energy exclusively to the business of
the Corporation. While employed by the Corporation, the Executive shall not engage or prepare to engage in any other business activity,
whether or not such business activity is pursued for gain, profit or other economic or financial advantage; provided, however,
that the Executive may engage in appropriate civic, charitable or religious activities and devote a reasonable amount of time to
private investments or boards or other activities provided that such activities do not interfere or conflict with the Executive&rsquo;s
responsibilities. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Change in Control Payment</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If within 12 months after any Change in Control (as hereinafter defined) of the Corporation, the Executive&rsquo;s employment with
the Corporation is terminated by the Corporation without Cause (as hereinafter defined) or Executive terminates his employment
for Good Reason (as hereinafter defined), the Executive shall be paid an amount equal to 2 times the Executive&rsquo;s base salary
and bonus (not to include the exercise of any stock options) paid or scheduled to be paid under the Corporation&rsquo;s or a subsidiary&rsquo;s
annual incentive plan in the calendar year of the Change in Control. Subject to Section 2(h), said sum shall be paid to the Executive
in one lump sum on the 60<SUP>th</SUP> day following the Executive&rsquo;s termination, provided that the Executive has executed
and submitted a release of claims and the statutory period during which Executive is entitled to revoke the release of claims has
expired on or before that 60<SUP>th</SUP> day. In addition, all unexercised or unvested equity awards, or portions thereof, held
by the Executive as of the date of termination shall vest or terminate and be exercisable in accordance with their terms. The termination
of the Executive&rsquo;s employment hereunder shall not impair any rights of the Executive under any employee benefit or fringe
benefit plans that have vested as of the date of termination, which said rights shall be administered after termination of employment
in accordance with the terms of such plans.</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; text-align: justify"><FONT STYLE="font-weight: normal">The Corporation
and the Executive intend that all benefits payable to the Executive as the result of a Change in Control, or for Good Reason whether
payable under this Agreement or under any other benefit, compensation, or incentive plan or arrangement with the Executive or the
Corporation, shall not be subject to the excise tax under Sections 280G and 4999 of the Internal Revenue Code of 1986 (the &ldquo;Code&rdquo;)
and shall be deductible by the Corporation. If all or any portion of the benefits payable to the Executive under this Agreement,
either alone or together with other benefits to which the Executive is entitled, constitute excess parachute payments within the
meaning of Section 280G of the Code and are therefore subject to the excise tax imposed by Section 4999 of the Code or loss of
the compensation deduction as the result of Section 280G of the Code, the Corporation and the Executive agree that benefits payable
under this Agreement shall be reduced as necessary for the purpose of avoiding application of Sections 280G and 4999 of the Code.
Any such reduction shall be made by the Corporation in its sole discretion consistent with the requirements of Section 409A of
the Code. If, notwithstanding the initial application of this Section 2, the Internal Revenue Service determines that any covered
payment constitutes an excess parachute payment (as defined by Section 280G(b) of the Code), this Section 2 will be reapplied based
on the Internal Revenue Service's determination, and the Executive will be required to promptly repay the portion of the covered
payments required to avoid imposition of an excise tax. Any determination required under this Section 2, including whether any
payments or benefits are parachute payments, shall be made by the Corporation in its sole discretion.</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"></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-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Cause</U>. For purposes of this Agreement, the term &ldquo;<I>Cause</I>&rdquo; means: (i) the Executive&rsquo;s &ldquo;Disability&rdquo;
(as hereinafter defined); (ii) an action or failure to act by the Executive constituting fraud, misappropriation or damage to the
property or business of the Corporation; (iii) conduct by Executive that amounts to fraud, personal dishonesty or breach of fiduciary
duty; (iv) Executive&rsquo;s conviction (from which no appeal may be, or is, timely taken) of a felony or willful violation of
any law, rule or regulation (other than traffic violations or similar offenses); (v) the Executive&rsquo;s breach of any of her
obligations hereunder; (vi) the unauthorized use, misappropriation or disclosure by the Executive of any Confidential Information
(as hereinafter defined) of the Corporation or of any confidential information of any other party to whom the Executive owes an
obligation of nondisclosure as a result of her relationship with the Corporation; (vii) the willful violation of any final cease
and desist or consent order; (viii) a knowing violation by Executive of federal and state banking laws or regulations which is
likely to have a material adverse effect on the Corporation, as determined by the Board; (ix) the determination by the Board, in
the exercise of its reasonable judgment and in good faith, that Executive&rsquo;s job performance is substantially unsatisfactory
and that she has failed to cure such performance within a reasonable period (but in no event more than thirty (30) days) after
written notice specifying in reasonable detail the nature of the unsatisfactory performance; (x) Executive&rsquo;s material breach
of any of the Corporation&rsquo;s written policies; or (xi) the issuance of any order by the Maryland Commissioner of Financial
Regulation, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, or any other supervisory
agency with jurisdiction over the Corporation permanently prohibiting the continued service of the Executive with the Corporation.
No act or failure to act on the part of the Executive shall be considered &ldquo;willful&rdquo; unless it is done, or omitted to
be done, by the Executive in bad faith or without reasonable belief that the Executive&rsquo;s action or omission was in the best
interests of the Corporation. Any act or failure to act that is based upon authority given pursuant to a resolution duly adopted
by the Board, or upon the advice of legal counsel for the Corporation, shall be conclusively presumed to be done, or omitted to
be done, by the Executive in good faith and in the best interest of the Corporation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Disability</U>. For purposes of this Agreement, the term &ldquo;<I>Disability</I>&rdquo; shall have the meaning given to such
term in the long-term disability policy available to Executives of the Corporation, as amended or replaced from time to time. </FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Change in Control</U>. For purposes of this Agreement, a &ldquo;<I>Change in Control</I>&rdquo; shall be deemed to have occurred
if the conditions set forth in any one of the following paragraphs shall have been satisfied:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any one person, or more than one person acting as a group, acquires ownership of securities of the Corporation that, together with
securities held by such person or group, constitutes more than 50 percent (50%) of the total fair market value or total voting
power of the securities of the Corporation;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
either (A) any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending
on the date of the most recent acquisition by such person or persons) ownership of securities of the Corporation possessing 35
percent (35%) or more of the total voting power of the securities of the Corporation; or (B) a majority of members of the Board
of the Corporation is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority
of the members of the Board of Directors of the Corporation, as the case may be, prior to the date of the appointment or election;
or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date
of the most recent acquisition by such person or persons) assets from the Corporation that have a total gross fair market value
equal to or more than 40 percent (40%) of the total gross fair market value of all of the assets of the Corporation, as the case
may be, immediately prior to such acquisition or acquisitions. For this purpose, gross fair market value means the value of the
assets of the Corporation, as the case may be, or the value of the assets being disposed of, determined without regard to any liabilities
associated with such assets.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Notwithstanding the foregoing,
the acquisition of ownership or control of voting stock of the Corporation, individually or collectively, by the Corporation or
one of its affiliates or any benefit plan sponsored by the Corporation or any of its affiliates shall not constitute a Change in
Control.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Good Reason</U>. For purposes of this Agreement, the term &ldquo;<I>Good Reason</I>&rdquo; shall mean termination by the Executive
within 12 months following a Change in Control based on:</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; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Without the Executive&rsquo;s express written consent, a material adverse change made by the Corporation which would reduce the
Executive&rsquo;s functions, duties or responsibilities as Chief Operating Officer of the Corporation.</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; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Without the Executive&rsquo;s express written consent, a 5% or greater reduction by the Corporation in the Executive&rsquo;s Base
Salary as the same may be increased from time to time; or</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; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Without the Executive&rsquo;s express written consent, the Corporation requires the Executive to be based at a location more than
50 miles from Easton, Maryland (which requirement shall be deemed to be a material change in the geographic location at which the
Executive must perform services for the Corporation), except for required travel on business of the Corporation to an extent substantially
consistent with the Executive&rsquo;s present business travel obligations.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Good Reason shall, for all purposes under
this Agreement, be construed and administered in manner consistent with the definition of &ldquo;good reason&rdquo; under Treasury
Regulation &sect;1.409A-1(n).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Full Compensation</U>. The payments made pursuant to this Section 2 shall be considered full compensation in payment for all
claims under this Agreement, and the Executive shall not be entitled to any other compensation. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Deduction for Amounts Due Corporation</U>. Upon termination of the Executive&rsquo;s employment with the Corporation, subject
to any restrictions imposed by applicable law, the Corporation shall have the right to deduct from the amount due the Executive
any amounts which the Executive owes the Corporation. Such right shall apply only to debts that were incurred in the ordinary course
of the employment relationship and in no event shall the Corporation have the right to deduct an amount in excess of $5,000 in
any year from any payment that would be considered deferred compensation under Section 409A of the Code. In no event shall the
Corporation have the discretion to deduct any amount pursuant to this Section 2(g) to the extent such deduction would be considered
a prohibited acceleration under Section 409A of the Code. Any offset under this Section 2(g) shall comply with Section 1.409A &ndash;
2(j)(4)(xiii) of the Treasury Regulations.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Compliance with Section 409A of the Code</U>. This Agreement is intended to comply with Section 409A of the Code and its corresponding
regulations, or an exemption, and payments may only be made in a manner permitted by Section 409A of the Code, to the extent applicable.
Severance benefits under the Agreement are intended to be exempt from Section 409A to the maximum extent possible under the &quot;separation
pay exception, the &ldquo;short-term deferral exception,&rdquo; or another exception under Section 409A of the Code. For purposes
of Section 409A of the Code, the right to a series of installment payments under this Agreement shall be treated as a right to
a series of separate payments. In no event may the Executive, directly or indirectly, designate the calendar year of a payment.
If a payment obligation under this Agreement arises on account of the termination of Executive&rsquo;s employment hereunder while
the Executive is a &ldquo;specified employee&rdquo; (as defined under Section 409A of the Code, and determined in good faith by
the Corporation), any payment of &ldquo;deferred compensation&rdquo; (as defined in Treasury Regulation Section 1.409A-1(b)(1),
after giving effect to the exemptions in Treasury Regulation Sections 1.409A-1(b)(3) through (b)(12)) that is scheduled to be paid
within six (6) months after such termination of employment shall be paid, with interest, in a lump sum, within 15 days after the
end of the six-month period beginning on the date of such termination or, if earlier, within 15 days after the appointment of the
personal representative or executor of the Executive&rsquo;s estate following her death. </FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Non-Solicitation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Restrictive Covenants</U>. During the Executive&rsquo;s employment with the Corporation and for 12 months after the Executive
ceases, for any reason, to be an employee of the Corporation, the Executive shall not, directly or indirectly, as owner, partner,
director, officer, employee, agent, consultant, advisor, contractor or otherwise, whether for consideration or without consideration,
for the benefit of any individual, group, corporation, partnership, trust, association, joint venture, pool, syndicate, sole proprietorship,
unincorporated organization or any other form of entity not specifically listed herein (a &ldquo;<I>Person</I>&rdquo;) other than
for the Corporation and/or any of its affiliates (the &ldquo;<I>Employer Group</I>&rdquo;), take any of the following actions:
</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
solicit any Business Relation (as hereinafter defined) to purchase, or sell or otherwise provide to any Business Relation, any
products or services which are comparable to, or which are intended to substitute for, products or services offered by the Corporation
and/or any of its affiliates (the &ldquo;Non-Compete Group&rdquo;) during the Executive&rsquo;s employment with the Corporation;
</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
employ, engage or solicit for employment or for engagement as an independent contractor or consultant, any Person who was employed
by, or any Person who was engaged as an independent contractor by, any member of the Non-Compete Group during the preceding 24
months;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
employ, engage or solicit for employment any employee of the Corporation, whether or not such employee is a full-time employee
or a temporary employee of the Corporation and whether or not such employment is pursuant to written agreement and whether or not
such employment is for a determined period or is at will; or</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; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
encourage any Person to reduce its business with any member of the Non-Compete Group or to reduce its employment with or provision
of services to any member of the Non-Compete Group.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#9;Provided, however,
that nothing in this Section 3(a) shall be deemed to prevent or limit the right of the Executive to own up to a five percent (5%)
interest in the securities of a Person that are registered under Section 12 of the Securities Exchange Act of 1934, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Business Relation Defined</U>. For purposes of this Agreement, the term &ldquo;<I>Business Relation</I>&rdquo; means any Person
who, at any time during the Executive&rsquo;s employment with the Corporation, was a Person (i) that is or was a customer of any
member of the Non-Compete Group, (ii) that had entered into any contract or other arrangement with any member of the Non-Compete
Group for the provision of services or the sale of products, (iii) to whom any member of the Non-Compete Group furnished or planned
to furnish a proposal for the performance of services or the sale of products, or (iv) with whom any member of the Non-Compete
Group entered or agreed to enter into any other business relationship such as a joint venture, collaborative agreement, joint development
agreement, teaming arrangement or agreement, or similar arrangement or understanding for the provision of services or sale of products.
</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Covenant</U>. The Executive acknowledges that her relationship with the Corporation shall of necessity provide her with
specialized knowledge concerning the Employer Group, which, if used for the benefit of others or disclosed to others, could cause
serious harm to the Employer Group. Accordingly, the Executive covenants that she shall not at any time, directly or indirectly,
use, appropriate or disclose to others, or permit the use of or appropriation by or disclosure to others of, any Confidential Information
(as hereinafter defined) except as expressly provided herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Permitted Use</U>. While employed with the Corporation, the Executive may use Confidential Information only for the purpose
that is necessary to the carrying out of the Executive&rsquo;s duties as set forth herein or assigned to her by the Corporation,
and the Executive may not make use of any Confidential Information after she is no longer an employee of the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information Defined</U>. For purposes of this Agreement, the term &ldquo;<I>Confidential Information</I>&rdquo;
means all information of any member of the Employer Group, whether oral, written, computerized, digitized or otherwise, regarding
the business of the Employer Group, including, without limitation, information regarding the Employer Group&rsquo;s customers,
referral sources, insurance carriers, sales and marketing information, costs, prices, earnings, business plans, financial information
and forecasts, contracts, business arrangements, methods of operation, business strategies, prospects, and Intellectual Property
(as hereinafter defined), whether or not such information is deemed &ldquo;trade secrets&rdquo; under applicable law. Confidential
Information does not include information that (i) becomes generally available to the public other than as a result of disclosure
by the Executive in violation of this Agreement, (ii) was available to the public on a non-confidential basis from a source other
than the Employer Group, (iii) is made available to a third party on a non-confidential basis by the Employer Group, (iv) was already
known to the Executive at the time of disclosure by the Employer Group, or (v) is required to be disclosed by legal process or
applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Intellectual Property</U>. The Executive agrees that any and all information, reports, other documents and other works
(whether in an electronic format or otherwise) created by the Executive for or on behalf of the Corporation during the Executive&rsquo;s
service with the Corporation, whether or not developed on the Corporation&rsquo;s premises or equipment or during the Corporation&rsquo;s
normal business hours (the &ldquo;<I>Intellectual Property</I>&rdquo;), are and shall remain works made for hire and the sole and
exclusive property of the Corporation. To the extent that such Intellectual Property is not considered work made for hire, the
Executive hereby assigns to the Corporation (or its nominee) any and all interest that the Executive may now or in the future have
in the Intellectual Property. Upon request by the Corporation, the Executive shall execute and deliver to the Corporation any document
or instrument that may be necessary to secure or perfect the Corporation&rsquo;s title to or interest in any Intellectual Property
so assigned.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Return of Property</U>. The Executive agrees that upon termination of her employment with the Corporation, she will:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>promptly return to the Corporation all Confidential Information, all Intellectual Property, and all other property of the
Corporation, including but not limited to all correspondence, manuals, notebooks, lists of customers and suppliers, computer programs,
disks and any documents, materials or property, whether written or stored on computerized medium, and all copies in her possession
or control;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>not take any action to preserve or regain access to such information through any means, including but not limited to access
to the Corporation&rsquo;s facilities or through a computer or other digital or electronic means; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>promptly pay all amounts due, owing or otherwise payable by her to the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Executive expressly
authorizes the Corporation to withhold any amounts payable to her, including for compensation, reimbursement and otherwise, until
she has complied with this Section 6, subject to the terms of Section 2(g).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Disparaging Statements</U>. During the Executive&rsquo;s employment with the Corporation and for 12 months after the
Executive ceases to be an employee of the Corporation, the Executive will not make any statements or comments of a disparaging
nature to third parties regarding any member of the Employer Group or its officers, directors, personnel or products.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Executive&rsquo;s Representations and Warranties</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Prior Agreements</U>. The Executive represents and warrants that she is not a party to or otherwise subject to or
bound by the terms of any contract, agreement or understanding which in any manner would limit or otherwise affect her ability
to perform her obligations hereunder, including without limitation any contract, agreement or understanding containing terms and
provisions similar in any manner to those contained in Sections 3, 4, 5 or 7 of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information of Others</U>. The Executive represents, warrants and covenants that she will not disclose to
the Corporation, or otherwise use in the course of her service with the Corporation, any confidential information which she is
restricted from disclosing or using pursuant to any other agreement or duty to any other person.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Remedies</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Arbitration of Disputes</U>. If a dispute arises with respect to the enforcement or interpretation of any provision of this
Agreement (other than a dispute to be resolved under Section 9(b)), then the parties hereto agree to submit the dispute to non-appealable
binding arbitration. Such arbitration shall be conducted before a board of three arbitrators, with one member selected by the Executive,
one member selected by the Employer, and the third member selected by the first two arbitrators. The party responsible for the
payment of the costs of such arbitration (including any legal fees and expenses incurred by the Executive) shall be determined
by the board of arbitrators. The board of arbitrators shall be bound by the rules of the American Arbitration Association in making
its determination. The parties hereto agree that they and their heirs, personal representatives, successors, and assigns shall
be bound by the decision of such board of arbitrators with respect to any controversy properly submitted to it for determination.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Disputes Arising Under Sections 4 Through 8</U>. The Executive recognizes that a violation by her of any provision of Sections
4 through 8, inclusive, of this Agreement may cause irreparable injury to the Corporation, and that there may be no adequate remedy
at law for such violation. Therefore, the Executive agrees that, in addition to any other remedies for its violation hereof available
to the Corporation, which shall include the recovery of all damages incurred, as well as reasonable attorney&rsquo;s fees and other
costs, the Corporation shall have the right, in the event of the breach or threatened breach of any provision hereof by the Executive
to obtain an injunction and/or temporary restraining order against such breach or threatened breach or specifically enforce this
Agreement. The Corporation&rsquo;s rights and remedies specified in this Section 9(b) are in addition to and not in lieu of any
rights available under applicable law and regulations, including, without limitation, those laws and regulations governing trade
secrets and other proprietary information.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Withholding of Taxes</U>. All compensation and benefits payable pursuant to this Agreement shall be subject to all applicable
tax withholding requirements.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Compliance with Banking Laws</U>. Any payments made to the Executive pursuant to this Agreement, or otherwise, are subject to,
and conditioned upon their compliance with 12 U.S.C. Section 1828(k) and any regulations promulgated thereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Suspension of Employment by Regulators</U>. In the event the Executive is temporarily prohibited from participating in the conduct
of the affairs of the Corporation pursuant to notice served by a regulatory agency having jurisdiction over the Corporation, unless
stayed by appropriate proceedings, then the Corporation&rsquo;s obligations under this Agreement shall be suspended and the Executive
shall have no right to any payment of compensation, as of the date such notice is served on the Corporation. If the charges specified
in any such notice shall be dismissed, then the Corporation shall (i) pay the Executive any compensation withheld from the Executive
pursuant to the suspension of the Corporation&rsquo;s obligations as required by this Section 10(c) as soon as practicable following
the completion of continued employment for 30 days following such dismissal and (ii) reinstate the obligations so suspended.</FONT></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Entire Agreement; Amendment</U>. This Agreement supersedes all prior agreements, written and oral, between the parties with
respect to its subject matter, is intended as a complete and exclusive statement of the terms of the agreement between the parties
with respect thereto, and may be amended only by a writing signed by both parties hereto. The Corporation and the Executive agree
to execute any and all amendments to this Agreement permitted under applicable law that the Corporation&rsquo;s legal counsel determines
to be necessary to ensure compliance with the distribution provisions of Section 409A of the Code or to otherwise ensure that this
Agreement complies with Section 409A of the Code.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Nonwaiver</U>. The failure of either party to insist upon strict adherence to any term of this Agreement on any occasion will
not operate as a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other
term of this Agreement. Any waiver must be in a writing signed by the party to be charged therewith.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Assignment</U>. The Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their successors
and assigns and their representatives. This Agreement may not be assigned by either party without the consent of the other party,
except that the Corporation may assign all of its rights and delegate performance of all of its obligations hereunder in connection
with a Change in Control. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each of which will be an original, but all of
which together will constitute the same instrument.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Headings</U>. The headings in this Agreement are for convenience of reference only and should not be given any effect in the
interpretation of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Governing Law</U>. This Agreement shall be governed in all respects whether as to validity, construction, capacity, performance
or otherwise, by the laws of the State of Maryland, without regard to any provision that would result in the application of the
laws of any other state or jurisdiction, except to the extent that Federal law shall be deemed to apply. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Interpretation</U>. This Agreement is intended to comply with, or otherwise be exempt from, Section 409A of the Code and any
regulations and Treasury guidance promulgated thereunder. If the Corporation determines in good faith that any provision of this
Agreement would cause the Executive to incur an additional tax, penalty, or interest under Section 409A of the Code, then the Corporation
and the Executive shall use reasonable efforts to reform such provision, if possible, in a mutually agreeable fashion to maintain
to the maximum extent practicable the original intent of the applicable provision without violating the provisions of Section 409A
of the Code or causing the imposition of such additional tax, penalty, or interest under Section 409A of the Code. As used in this
Agreement, the terms &ldquo;termination of employment&rdquo;, &ldquo;resignation&rdquo; and words of similar import mean, for purposes
of any payments under this Agreement that are payments of deferred compensation subject to Section 409A of the Code, the Executive&rsquo;s
&ldquo;separation from service&rdquo; as defined in Section 409A of the Code.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Severability</U>. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision
shall not affect the validity and enforceability of the other provisions hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Employer Policies, Plans and Programs</U>. Except as expressly provided otherwise in this Agreement, whenever any rights under
this Agreement depend on the terms of a policy, plan, or program established or maintained by the Employer Group, any determination
of such rights will be made on the basis of the policy, plan, or program in effect at the time as of which such determination is
made. No reference in this Agreement to any policy, plan, or program established or maintained by the Employer Group precludes
any member of the Employer Group from prospectively or retroactively changing or amending or terminating that policy, plan, or
program or adopting a new policy, plan, or program in lieu of the then existing policy, plan, or program.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Survival of Terms</U>. The provisions of Sections 2 through 7, inclusive, and Sections 9 and 10 of this Agreement shall survive
the termination of the Executive&rsquo;s employment hereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the parties have executed this Agreement as of the date written above.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; text-align: justify"><B>ATTEST:</B></TD>
    <TD STYLE="width: 12%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 44%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="text-transform: uppercase"><B>SHORE BANCSHARES, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">/s/ W. David Morse</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">By:&nbsp;/s/ Lloyd L. Beatty, Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">W. David Morse, Secretary</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Lloyd L. Beatty, Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&nbsp;&nbsp;&nbsp; President/CEO</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>WITNESS:</B></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left"><B>EXECUTIVE:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid"> /s/ W. David Morse</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Donna J. Stevens</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">W. David Morse, Secretary</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Donna  J. Stevens</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

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

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

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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>tv506182_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<HEAD>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: left"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CHANGE IN CONTROL AGREEMENT<B>&nbsp;</B></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; text-align: justify; text-indent: 0.5in"><B>THIS CHANGE IN CONTROL
AGREEMENT</B> (this &ldquo;<I>Agreement</I>&rdquo;), dated November 1, 2018 (the &ldquo;<I>Effective Date</I>&rdquo;), is entered
into by and between Shore United Bank, a commercial bank organized under the laws of Maryland (the &ldquo;<I>Bank</I>&rdquo;),
and Patrick M. Bilbrough (the <I>&ldquo;Executive&rdquo;</I>).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Bank is the wholly-owned subsidiary of Shore Bancshares, Inc., a corporation organized under the laws of Maryland (the &ldquo;<I>Corporation</I>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Executive is employed by the Bank as President and Chief Executive Officer;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
Corporation and the Bank desire to be ensured of the Executive&rsquo;s continued active participation in the business of the Bank;
and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, in
order to induce the Executive to remain in the employ of the Bank and in consideration of the Executive&rsquo;s agreeing to remain
in the employ of the Bank, the parties desire to specify the change in control payment which shall be due to Executive in the event
that the Executive&rsquo;s employment with the Bank is terminated in the specified circumstances covered by this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW THEREFORE</B>,
in consideration of the mutual covenants and agreements of the parties contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Executive and the Bank agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Term</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Bank agrees to employ the Executive as an at-will employee, and the Executive agrees to be employed by the Bank as an at-will
employee, subject to the terms and conditions of this Agreement.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The initial term of this Agreement shall be for 12 months commencing on the Effective Date (the &ldquo;<I>Initial Term</I>&rdquo;).
Upon the expiration of the Initial Term, this Agreement shall automatically renew for successive terms of 12 months each (each
such renewal term, together with the Initial Term, a &ldquo;<I>Term</I>&rdquo;) without further action by the parties, unless either
party shall have served written notice on the other party at least 60 days prior to the commencement of a new Term of such party&rsquo;s
decision not to renew this Agreement. At least 120 days prior to the commencement of a new Term, the Board of Directors of the
Bank (&ldquo;<I>Board</I>&rdquo;) or a committee thereof will conduct a comprehensive performance evaluation and review of Executive
to determine whether to give notice of non-renewal as provided herein. The evaluation and review shall be documented in the minutes
of the Board or the committee thereof. For purposes of clarity, in the event the Board decides not to renew this Agreement and
provides proper notice as set forth above, the Executive shall remain an at-will employee of the Bank following the termination
of this Agreement unless the Executive&rsquo;s employment is sooner terminated.</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"></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-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
While employed by the Bank, the Executive shall (i) perform such services for the Bank as may be consistent with the Executive&rsquo;s
title and such services which are from time to time assigned to the Executive by the Bank&rsquo;s Board and (ii) devote the Executive&rsquo;s
entire business time, attention, skill and energy exclusively to the business of the Bank. While employed by the Bank, the Executive
shall not engage or prepare to engage in any other business activity, whether or not such business activity is pursued for gain,
profit or other economic or financial advantage; provided, however, that the Executive may engage in appropriate civic, charitable
or religious activities and devote a reasonable amount of time to private investments or boards or other activities provided that
such activities do not interfere or conflict with the Executive&rsquo;s responsibilities. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Change in Control Payment</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If within 12 months after any Change in Control (as hereinafter defined) of the Corporation, the Executive&rsquo;s employment with
the Bank is terminated by the Bank or Corporation without Cause (as hereinafter defined) or Executive terminates his employment
for Good Reason (as hereinafter defined), the Executive shall be paid an amount equal to 2 times the Executive&rsquo;s base salary
and bonus (not to include the exercise of any stock options) paid or scheduled to be paid under the Corporation&rsquo;s or a subsidiary&rsquo;s
annual incentive plan in the calendar year of the Change in Control. Subject to Section 2(h), said sum shall be paid to the Executive
in one lump sum on the 60<SUP>th</SUP> day following the Executive&rsquo;s termination, provided that the Executive has executed
and submitted a release of claims and the statutory period during which Executive is entitled to revoke the release of claims has
expired on or before that 60<SUP>th</SUP> day. In addition, all unexercised or unvested equity awards, or portions thereof, held
by the Executive as of the date of termination shall vest or terminate and be exercisable in accordance with their terms. The termination
of the Executive&rsquo;s employment hereunder shall not impair any rights of the Executive under any employee benefit or fringe
benefit plans that have vested as of the date of termination, which said rights shall be administered after termination of employment
in accordance with the terms of such plans.</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; text-align: justify"><FONT STYLE="font-weight: normal">The Corporation,
Bank and the Executive intend that all benefits payable to the Executive as the result of a Change in Control, or for Good Reason
whether payable under this Agreement or under any other benefit, compensation, or incentive plan or arrangement with the Executive,
the Bank or Corporation, shall not be subject to the excise tax under Sections 280G and 4999 of the Internal Revenue Code of 1986
(the &ldquo;Code&rdquo;) and shall be deductible by the Corporation. If all or any portion of the benefits payable to the Executive
under this Agreement, either alone or together with other benefits to which the Executive is entitled, constitute excess parachute
payments within the meaning of Section 280G of the Code and are therefore subject to the excise tax imposed by Section 4999 of
the Code or loss of the compensation deduction as the result of Section 280G of the Code, the Bank, Corporation and the Executive
agree that benefits payable under this Agreement shall be reduced as necessary for the purpose of avoiding application of Sections
280G and 4999 of the Code. Any such reduction shall be made by the Corporation in its sole discretion consistent with the requirements
of Section 409A of the Code. If, notwithstanding the initial application of this Section 2, the Internal Revenue Service determines
that any covered payment constitutes an excess parachute payment (as defined by Section 280G(b) of the Code), this Section 2 will
be reapplied based on the Internal Revenue Service's determination, and the Executive will be required to promptly repay the portion
of the covered payments required to avoid imposition of an excise tax. Any determination required under this Section 2, including
whether any payments or benefits are parachute payments, shall be made by the Corporation in its sole discretion.</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"></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-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Cause</U>. For purposes of this Agreement, the term &ldquo;<I>Cause</I>&rdquo; means: (i) the Executive&rsquo;s &ldquo;Disability&rdquo;
(as hereinafter defined); (ii) an action or failure to act by the Executive constituting fraud, misappropriation or damage to the
property or business of the Corporation or the Bank; (iii) conduct by Executive that amounts to fraud, personal dishonesty or breach
of fiduciary duty; (iv) Executive&rsquo;s conviction (from which no appeal may be, or is, timely taken) of a felony or willful
violation of any law, rule or regulation (other than traffic violations or similar offenses); (v) the Executive&rsquo;s breach
of any of his obligations hereunder; (vi) the unauthorized use, misappropriation or disclosure by the Executive of any Confidential
Information (as hereinafter defined) of the Corporation or the Bank or of any confidential information of any other party to whom
the Executive owes an obligation of nondisclosure as a result of his relationship with the Corporation and the Bank; (vii) the
willful violation of any final cease and desist or consent order; (viii) a knowing violation by Executive of federal and state
banking laws or regulations which is likely to have a material adverse effect on the Corporation or the Bank, as determined by
the Board; (ix) the determination by the Board, in the exercise of its reasonable judgment and in good faith, that Executive&rsquo;s
job performance is substantially unsatisfactory and that he has failed to cure such performance within a reasonable period (but
in no event more than thirty (30) days) after written notice specifying in reasonable detail the nature of the unsatisfactory performance;
(x) Executive&rsquo;s material breach of any of the Corporation&rsquo;s or the Bank&rsquo;s written policies; or (xi) the issuance
of any order by the Maryland Commissioner of Financial Regulation, the Federal Deposit Insurance Corporation, the Board of Governors
of the Federal Reserve System, or any other supervisory agency with jurisdiction over the Corporation or the Bank permanently prohibiting
the continued service of the Executive with the Bank. No act or failure to act on the part of the Executive shall be considered
&ldquo;willful&rdquo; unless it is done, or omitted to be done, by the Executive in bad faith or without reasonable belief that
the Executive&rsquo;s action or omission was in the best interests of the Corporation and the Bank. Any act or failure to act that
is based upon authority given pursuant to a resolution duly adopted by the Board, or upon the advice of legal counsel for the Corporation
and the Bank, shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best
interest of the Corporation and the Bank.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Disability</U>. For purposes of this Agreement, the term &ldquo;<I>Disability</I>&rdquo; shall have the meaning given to such
term in the long-term disability policy available to Executives of the Corporation and the Bank, as amended or replaced from time
to time. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Change in Control</U>. For purposes of this Agreement, a &ldquo;<I>Change in Control</I>&rdquo; shall be deemed to have occurred
if the conditions set forth in any one of the following paragraphs shall have been satisfied:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any one person, or more than one person acting as a group, acquires ownership of securities of the Corporation that, together with
securities held by such person or group, constitutes more than 50 percent (50%) of the total fair market value or total voting
power of the securities of the Corporation;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
either (A) any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending
on the date of the most recent acquisition by such person or persons) ownership of securities of the Corporation possessing 35
percent (35%) or more of the total voting power of the securities of the Corporation; or (B) a majority of members of the Board
of the Corporation is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority
of the members of the Board of Directors of the Corporation, as the case may be, prior to the date of the appointment or election;
or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date
of the most recent acquisition by such person or persons) assets from the Corporation that have a total gross fair market value
equal to or more than 40 percent (40%) of the total gross fair market value of all of the assets of the Corporation, as the case
may be, immediately prior to such acquisition or acquisitions. For this purpose, gross fair market value means the value of the
assets of the Corporation, as the case may be, or the value of the assets being disposed of, determined without regard to any liabilities
associated with such assets.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Notwithstanding the foregoing,
the acquisition of ownership or control of voting stock of the Corporation, individually or collectively, by the Corporation or
one of its affiliates or any benefit plan sponsored by the Corporation or any of its affiliates shall not constitute a Change in
Control.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Good Reason</U>. For purposes of this Agreement, the term &ldquo;<I>Good Reason</I>&rdquo; shall mean termination by the Executive
within 12 months following a Change in Control based on:</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; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Without the Executive&rsquo;s express written consent, a material adverse change made by the Bank which would reduce the Executive&rsquo;s
functions, duties or responsibilities as President of the Bank.</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"></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-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Without the Executive&rsquo;s express written consent, a 5% or greater reduction by the Bank in the Executive&rsquo;s Base Salary
as the same may be increased from time to time; or</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; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Without the Executive&rsquo;s express written consent, the Bank requires the Executive to be based at a location more than 50 miles
from Easton, Maryland (which requirement shall be deemed to be a material change in the geographic location at which the Executive
must perform services for the Bank), except for required travel on business of the Bank to an extent substantially consistent with
the Executive&rsquo;s present business travel obligations.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Good Reason shall, for all purposes under
this Agreement, be construed and administered in manner consistent with the definition of &ldquo;good reason&rdquo; under Treasury
Regulation &sect;1.409A-1(n).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Full Compensation</U>. The payments made pursuant to this Section 2 shall be considered full compensation in payment for all
claims under this Agreement, and the Executive shall not be entitled to any other compensation. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Deduction for Amounts Due Bank</U>. Upon termination of the Executive&rsquo;s employment with the Bank, subject to any restrictions
imposed by applicable law, the Bank shall have the right to deduct from the amount due the Executive any amounts which the Executive
owes the Bank. Such right shall apply only to debts that were incurred in the ordinary course of the employment relationship and
in no event shall the Bank have the right to deduct an amount in excess of $5,000 in any year from any payment that would be considered
deferred compensation under Section 409A of the Code. In no event shall the Bank have the discretion to deduct any amount pursuant
to this Section 2(g) to the extent such deduction would be considered a prohibited acceleration under Section 409A of the Code.
Any offset under this Section 2(g) shall comply with Section 1.409A &ndash; 2(j)(4)(xiii) of the Treasury Regulations.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Compliance with Section 409A of the Code</U>. This Agreement is intended to comply with Section 409A of the Code and its corresponding
regulations, or an exemption, and payments may only be made in a manner permitted by Section 409A of the Code, to the extent applicable.
Severance benefits under the Agreement are intended to be exempt from Section 409A to the maximum extent possible under the &quot;separation
pay exception, the &ldquo;short-term deferral exception,&rdquo; or another exception under Section 409A of the Code. For purposes
of Section 409A of the Code, the right to a series of installment payments under this Agreement shall be treated as a right to
a series of separate payments. In no event may the Executive, directly or indirectly, designate the calendar year of a payment.
If a payment obligation under this Agreement arises on account of the termination of Executive&rsquo;s employment hereunder while
the Executive is a &ldquo;specified employee&rdquo; (as defined under Section 409A of the Code, and determined in good faith by
the Bank), any payment of &ldquo;deferred compensation&rdquo; (as defined in Treasury Regulation Section 1.409A-1(b)(1), after
giving effect to the exemptions in Treasury Regulation Sections 1.409A-1(b)(3) through (b)(12)) that is scheduled to be paid within
six (6) months after such termination of employment shall be paid, with interest, in a lump sum, within 15 days after the end of
the six-month period beginning on the date of such termination or, if earlier, within 15 days after the appointment of the personal
representative or executor of the Executive&rsquo;s estate following his death. </FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Non-Solicitation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Restrictive Covenants</U>. During the Executive&rsquo;s employment with the Bank and for 12 months after the Executive ceases,
for any reason, to be an employee of the Bank, the Executive shall not, directly or indirectly, as owner, partner, director, officer,
employee, agent, consultant, advisor, contractor or otherwise, whether for consideration or without consideration, for the benefit
of any individual, group, corporation, partnership, trust, association, joint venture, pool, syndicate, sole proprietorship, unincorporated
organization or any other form of entity not specifically listed herein (a &ldquo;<I>Person</I>&rdquo;) other than for the Corporation
and/or any of its affiliates (the &ldquo;<I>Employer Group</I>&rdquo;), take any of the following actions: </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
solicit any Business Relation (as hereinafter defined) to purchase, or sell or otherwise provide to any Business Relation, any
products or services which are comparable to, or which are intended to substitute for, products or services offered by the Corporation
and/or any of its affiliates (the &ldquo;Non-Compete Group&rdquo;) during the Executive&rsquo;s employment with the Bank; </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
employ, engage or solicit for employment or for engagement as an independent contractor or consultant, any Person who was employed
by, or any Person who was engaged as an independent contractor by, any member of the Non-Compete Group during the preceding 24
months;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
employ, engage or solicit for employment any employee of the Corporation or the Bank, whether or not such employee is a full-time
employee or a temporary employee of the Corporation or the Bank and whether or not such employment is pursuant to written agreement
and whether or not such employment is for a determined period or is at will; or</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; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-weight: normal">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
encourage any Person to reduce its business with any member of the Non-Compete Group or to reduce its employment with or provision
of services to any member of the Non-Compete Group.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#9;Provided, however,
that nothing in this Section 3(a) shall be deemed to prevent or limit the right of the Executive to own up to a five percent (5%)
interest in the securities of a Person that are registered under Section 12 of the Securities Exchange Act of 1934, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Business Relation Defined</U>. For purposes of this Agreement, the term &ldquo;<I>Business Relation</I>&rdquo; means any Person
who, at any time during the Executive&rsquo;s employment with the Bank, was a Person (i) that is or was a customer of any member
of the Non-Compete Group, (ii) that had entered into any contract or other arrangement with any member of the Non-Compete Group
for the provision of services or the sale of products, (iii) to whom any member of the Non-Compete Group furnished or planned to
furnish a proposal for the performance of services or the sale of products, or (iv) with whom any member of the Non-Compete Group
entered or agreed to enter into any other business relationship such as a joint venture, collaborative agreement, joint development
agreement, teaming arrangement or agreement, or similar arrangement or understanding for the provision of services or sale of products.
</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Covenant</U>. The Executive acknowledges that his relationship with the Corporation and the Bank shall of necessity provide
him with specialized knowledge concerning the Employer Group, which, if used for the benefit of others or disclosed to others,
could cause serious harm to the Employer Group. Accordingly, the Executive covenants that he shall not at any time, directly or
indirectly, use, appropriate or disclose to others, or permit the use of or appropriation by or disclosure to others of, any Confidential
Information (as hereinafter defined) except as expressly provided herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Permitted Use</U>. While employed with the Bank, the Executive may use Confidential Information only for the purpose
that is necessary to the carrying out of the Executive&rsquo;s duties as set forth herein or assigned to him by the Bank, and the
Executive may not make use of any Confidential Information after he is no longer an employee of the Bank.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information Defined</U>. For purposes of this Agreement, the term &ldquo;<I>Confidential Information</I>&rdquo;
means all information of any member of the Employer Group, whether oral, written, computerized, digitized or otherwise, regarding
the business of the Employer Group, including, without limitation, information regarding the Employer Group&rsquo;s customers,
referral sources, insurance carriers, sales and marketing information, costs, prices, earnings, business plans, financial information
and forecasts, contracts, business arrangements, methods of operation, business strategies, prospects, and Intellectual Property
(as hereinafter defined), whether or not such information is deemed &ldquo;trade secrets&rdquo; under applicable law. Confidential
Information does not include information that (i) becomes generally available to the public other than as a result of disclosure
by the Executive in violation of this Agreement, (ii) was available to the public on a non-confidential basis from a source other
than the Employer Group, (iii) is made available to a third party on a non-confidential basis by the Employer Group, (iv) was already
known to the Executive at the time of disclosure by the Employer Group, or (v) is required to be disclosed by legal process or
applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Intellectual Property</U>. The Executive agrees that any and all information, reports, other documents and other works
(whether in an electronic format or otherwise) created by the Executive for or on behalf of the Corporation and the Bank during
the Executive&rsquo;s service with the Bank, whether or not developed on the Bank&rsquo;s premises or equipment or during the Bank&rsquo;s
normal business hours (the &ldquo;<I>Intellectual Property</I>&rdquo;), are and shall remain works made for hire and the sole and
exclusive property of the Corporation and the Bank. To the extent that such Intellectual Property is not considered work made for
hire, the Executive hereby assigns to the Bank (or its nominee) any and all interest that the Executive may now or in the future
have in the Intellectual Property. Upon request by the Bank, the Executive shall execute and deliver to the Bank any document or
instrument that may be necessary to secure or perfect the Bank&rsquo;s title to or interest in any Intellectual Property so assigned.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Return of Property</U>. The Executive agrees that upon termination of his employment with the Bank, he will:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>promptly return to the Bank all Confidential Information, all Intellectual Property, and all other property of the Bank,
including but not limited to all correspondence, manuals, notebooks, lists of customers and suppliers, computer programs, disks
and any documents, materials or property, whether written or stored on computerized medium, and all copies in his possession or
control;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>not take any action to preserve or regain access to such information through any means, including but not limited to access
to the Bank&rsquo;s facilities or through a computer or other digital or electronic means; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>promptly pay all amounts due, owing or otherwise payable by him to the Bank.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Executive expressly
authorizes the Bank to withhold any amounts payable to him, including for compensation, reimbursement and otherwise, until he has
complied with this Section 6, subject to the terms of Section 2(g).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Disparaging Statements</U>. During the Executive&rsquo;s employment with the Bank and for 12 months after the Executive
ceases to be an employee of the Bank, the Executive will not make any statements or comments of a disparaging nature to third parties
regarding any member of the Employer Group or its officers, directors, personnel or products.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Executive&rsquo;s Representations and Warranties</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Prior Agreements</U>. The Executive represents and warrants that he is not a party to or otherwise subject to or bound
by the terms of any contract, agreement or understanding which in any manner would limit or otherwise affect his ability to perform
his obligations hereunder, including without limitation any contract, agreement or understanding containing terms and provisions
similar in any manner to those contained in Sections 3, 4, 5 or 7 of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information of Others</U>. The Executive represents, warrants and covenants that he will not disclose to
the Bank, or otherwise use in the course of his service with the Bank, any confidential information which he is restricted from
disclosing or using pursuant to any other agreement or duty to any other person.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Remedies</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Arbitration of Disputes</U>. If a dispute arises with respect to the enforcement or interpretation of any provision of this
Agreement (other than a dispute to be resolved under Section 9(b)), then the parties hereto agree to submit the dispute to non-appealable
binding arbitration. Such arbitration shall be conducted before a board of three arbitrators, with one member selected by the Executive,
one member selected by the Employer, and the third member selected by the first two arbitrators. The party responsible for the
payment of the costs of such arbitration (including any legal fees and expenses incurred by the Executive) shall be determined
by the board of arbitrators. The board of arbitrators shall be bound by the rules of the American Arbitration Association in making
its determination. The parties hereto agree that they and their heirs, personal representatives, successors, and assigns shall
be bound by the decision of such board of arbitrators with respect to any controversy properly submitted to it for determination.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Disputes Arising Under Sections 4 Through 8</U>. The Executive recognizes that a violation by him of any provision of Sections
4 through 8, inclusive, of this Agreement may cause irreparable injury to the Corporation and the Bank, and that there may be no
adequate remedy at law for such violation. Therefore, the Executive agrees that, in addition to any other remedies for its violation
hereof available to the Bank, which shall include the recovery of all damages incurred, as well as reasonable attorney&rsquo;s
fees and other costs, the Bank shall have the right, in the event of the breach or threatened breach of any provision hereof by
the Executive to obtain an injunction and/or temporary restraining order against such breach or threatened breach or specifically
enforce this Agreement. The Bank&rsquo;s rights and remedies specified in this Section 9(b) are in addition to and not in lieu
of any rights available under applicable law and regulations, including, without limitation, those laws and regulations governing
trade secrets and other proprietary information.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Withholding of Taxes</U>. All compensation and benefits payable pursuant to this Agreement shall be subject to all applicable
tax withholding requirements.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Compliance with Banking Laws</U>. Any payments made to the Executive pursuant to this Agreement, or otherwise, are subject to,
and conditioned upon their compliance with 12 U.S.C. Section 1828(k) and any regulations promulgated thereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Suspension of Employment by Regulators</U>. In the event the Executive is temporarily prohibited from participating in the conduct
of the affairs of the Corporation or the Bank pursuant to notice served by a regulatory agency having jurisdiction over the Corporation
and the Bank, unless stayed by appropriate proceedings, then the Bank&rsquo;s obligations under this Agreement shall be suspended
and the Executive shall have no right to any payment of compensation, as of the date such notice is served on the Bank. If the
charges specified in any such notice shall be dismissed, then the Bank shall (i) pay the Executive any compensation withheld from
the Executive pursuant to the suspension of the Bank&rsquo;s obligations as required by this Section 10(c) as soon as practicable
following the completion of continued employment for 30 days following such dismissal and (ii) reinstate the obligations so suspended.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Entire Agreement; Amendment</U>. This Agreement supersedes all prior agreements, written and oral, between the parties with
respect to its subject matter, is intended as a complete and exclusive statement of the terms of the agreement between the parties
with respect thereto, and may be amended only by a writing signed by both parties hereto. The Bank and the Executive agree to execute
any and all amendments to this Agreement permitted under applicable law that the Bank&rsquo;s legal counsel determines to be necessary
to ensure compliance with the distribution provisions of Section 409A of the Code or to otherwise ensure that this Agreement complies
with Section 409A of the Code.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Nonwaiver</U>. The failure of either party to insist upon strict adherence to any term of this Agreement on any occasion will
not operate as a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other
term of this Agreement. Any waiver must be in a writing signed by the party to be charged therewith.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Assignment</U>. The Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their successors
and assigns and their representatives. This Agreement may not be assigned by either party without the consent of the other party,
except that the Bank may assign all of its rights and delegate performance of all of its obligations hereunder in connection with
a Change in Control. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each of which will be an original, but all of
which together will constitute the same instrument.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Headings</U>. The headings in this Agreement are for convenience of reference only and should not be given any effect in the
interpretation of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Governing Law</U>. This Agreement shall be governed in all respects whether as to validity, construction, capacity, performance
or otherwise, by the laws of the State of Maryland, without regard to any provision that would result in the application of the
laws of any other state or jurisdiction, except to the extent that Federal law shall be deemed to apply. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Interpretation</U>. This Agreement is intended to comply with, or otherwise be exempt from, Section 409A of the Code and any
regulations and Treasury guidance promulgated thereunder. If the Bank determines in good faith that any provision of this Agreement
would cause the Executive to incur an additional tax, penalty, or interest under Section 409A of the Code, then the Bank and the
Executive shall use reasonable efforts to reform such provision, if possible, in a mutually agreeable fashion to maintain to the
maximum extent practicable the original intent of the applicable provision without violating the provisions of Section 409A of
the Code or causing the imposition of such additional tax, penalty, or interest under Section 409A of the Code. As used in this
Agreement, the terms &ldquo;termination of employment&rdquo;, &ldquo;resignation&rdquo; and words of similar import mean, for purposes
of any payments under this Agreement that are payments of deferred compensation subject to Section 409A of the Code, the Executive&rsquo;s
&ldquo;separation from service&rdquo; as defined in Section 409A of the Code.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Severability</U>. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision
shall not affect the validity and enforceability of the other provisions hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Employer Policies, Plans and Programs</U>. Except as expressly provided otherwise in this Agreement, whenever any rights under
this Agreement depend on the terms of a policy, plan, or program established or maintained by the Employer Group, any determination
of such rights will be made on the basis of the policy, plan, or program in effect at the time as of which such determination is
made. No reference in this Agreement to any policy, plan, or program established or maintained by the Employer Group precludes
any member of the Employer Group from prospectively or retroactively changing or amending or terminating that policy, plan, or
program or adopting a new policy, plan, or program in lieu of the then existing policy, plan, or program.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Survival of Terms</U>. The provisions of Sections 2 through 7, inclusive, and Sections 9 and 10 of this Agreement shall survive
the termination of the Executive&rsquo;s employment hereunder.</FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the parties have executed this Agreement as of the date written above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; text-align: justify"><B>ATTEST:</B></TD>
    <TD STYLE="width: 12%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 44%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="text-transform: uppercase"><B>Shore UNITED BANK</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">/s/ W. David Morse</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">By:&nbsp;/s/ Donna  J. Stevens</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">W. David Morse, Secretary</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Donna  J. Stevens</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&nbsp;&nbsp;&nbsp; SVP/COO</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>WITNESS:</B></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left"><B>EXECUTIVE:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid"> /s/ W. David Morse</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Patrick M. Bilbrough</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">W. David Morse, Secretary</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Patrick M. Bilbrough</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

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

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