<SEC-DOCUMENT>0001171843-25-003305.txt : 20250519
<SEC-HEADER>0001171843-25-003305.hdr.sgml : 20250519
<ACCEPTANCE-DATETIME>20250519163716
ACCESSION NUMBER:		0001171843-25-003305
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20250519
DATE AS OF CHANGE:		20250519

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PATRIOT NATIONAL BANCORP INC
		CENTRAL INDEX KEY:			0001098146
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		ORGANIZATION NAME:           	02 Finance
		EIN:				061559137
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29599
		FILM NUMBER:		25964554

	BUSINESS ADDRESS:	
		STREET 1:		900 BEDFORD ST
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06901
		BUSINESS PHONE:		2033247500
</SEC-HEADER>
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<TYPE>DEFA14A
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<P STYLE="margin: 0"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">_________________</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&#160;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>FORM <FONT ID="xdx_90D_edei--DocumentType_c20250513__20250513_zhmtvVcrSTff">8-K</FONT></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">_________________</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>CURRENT REPORT</B></P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>Date of Report (Date of earliest event reported): <FONT ID="xdx_906_edei--DocumentPeriodEndDate_c20250513__20250513_zPh2TdtU37ii">May
13, 2025</FONT></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B><FONT ID="xdx_900_edei--EntityRegistrantName_c20250513__20250513_zNOF8dg4a5T">PATRIOT NATIONAL BANCORP, INC.</FONT></B></P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B><FONT ID="xdx_90D_edei--EntityIncorporationStateCountryCode_c20250513__20250513_zJsu4OM52uW2">Connecticut</FONT></B></FONT></TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center; width: 34%"><FONT STYLE="font-size: 10pt"><B><FONT ID="xdx_90D_edei--EntityFileNumber_c20250513__20250513_z06fllHfIyE7">000-29599</FONT></B></FONT></TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B><FONT ID="xdx_906_edei--EntityTaxIdentificationNumber_c20250513__20250513_zDY0Ej0Ya6E8">06-1559137</FONT></B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(State or
        Other Jurisdiction of Incorporation)</FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="border-top: black 1pt solid; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Commission
        File Number)</FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="border-top: black 1pt solid; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S. Employer
        Identification No.)</FONT></TD></TR>
  </TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&#160;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B><FONT ID="xdx_909_edei--EntityAddressAddressLine1_c20250513__20250513_zIafNnVVdzRb">900 Bedford Street</FONT></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B><FONT ID="xdx_90F_edei--EntityAddressCityOrTown_c20250513__20250513_zJqlA4zOK8Bd">Stamford</FONT>,
<FONT ID="xdx_90D_edei--EntityAddressStateOrProvince_c20250513__20250513_z2bw5D1cKDhf">Connecticut</FONT>
<FONT ID="xdx_907_edei--EntityAddressPostalZipCode_c20250513__20250513_zwabRP8bgh1c">06901</FONT></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">(Address of Principal Executive Offices) (Zip Code)</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B><FONT ID="xdx_90C_edei--CityAreaCode_c20250513__20250513_zjFBRqzNtzX9">(203)</FONT>
<FONT ID="xdx_90C_edei--LocalPhoneNumber_c20250513__20250513_zClJNQ48Mtx9">252-5900</FONT></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">(Registrant's telephone number, including area code)</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>N/A</B></P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&#160;</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><FONT ID="xdx_907_edei--WrittenCommunications_c20250513__20250513_zeQGt1ZyWw9f">&#9744;</FONT></FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities
        Act (17 CFR 230.425)</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><FONT ID="xdx_909_edei--SolicitingMaterial_c20250513__20250513_ztYgqazinwgj">&#9746;</FONT></FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange
        Act (17 CFR 240.14a-12)</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><FONT ID="xdx_90F_edei--PreCommencementTenderOffer_c20250513__20250513_z9tTbbtOwbza">&#9744;</FONT></FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under
        the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><FONT ID="xdx_907_edei--PreCommencementIssuerTenderOffer_c20250513__20250513_znoSalyaMmB3">&#9744;</FONT></FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under
        the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
  </TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">Securities registered pursuant to Section 12(b) of the Act:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Title of each class</B></FONT></TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center; width: 34%"><FONT STYLE="font-size: 10pt"><B>Trading Symbol(s)</B></FONT></TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>Name of each exchange on
        which registered</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><FONT ID="xdx_902_edei--Security12bTitle_c20250513__20250513_zcdfwa2AmL7d">Common
        Stock, par value $0.01 per share</FONT></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="border-top: black 1pt solid; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><FONT ID="xdx_90B_edei--TradingSymbol_c20250513__20250513_zj8RZtqH7v39">PNBK</FONT></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="border-top: black 1pt solid; vertical-align: top">
        <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><FONT ID="xdx_901_edei--SecurityExchangeName_c20250513__20250513_zF4E87IT8Vz">NASDAQ
        Global Market</FONT></P>
        <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P></TD></TR>
  </TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule
405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2
of this chapter).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">Emerging growth company <FONT ID="xdx_90D_edei--EntityEmergingGrowthCompany_c20250513__20250513_zYQiL9X4481g">&#9744;</FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">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. &#9744;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&#160;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0"></TD>
    <TD STYLE="width: 1in"><B>Item 1.01</B></TD>
    <TD STYLE="text-align: justify"><B>Entry into a Material Definitive Agreement.</B></TD></TR>
  </TABLE>

<P STYLE="margin: 0; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Patriot National Bancorp, Inc. (the &#8220;Company&#8221;)
previously reported that, as part of its recent private placement (the &#8220;Private Placement&#8221;) of shares of common stock, par
value $0.01 per share (&#8220;Common Stock&#8221;), and shares of Series A Non-Cumulative Perpetual Convertible Preferred Stock, no par
value per share, the Company entered into an amendment (the &#8220;Amendment&#8221;) to its Fixed Rate Senior Notes (&#8220;Senior Notes&#8221;)
with holders of Senior Notes. The Amendment included, in part, the provision permitting any holder of Senior Notes to elect to voluntarily
convert any amount of such noteholder&#8217;s remaining outstanding principal and/or interest into shares of Common Stock on the same
terms as in the Private Placement.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Two noteholders, including Solaia Capital Holdings LLC,
of which Michael Carrazza, Chairman of the Board of Directors of the Company, serves as the manager, converted a total of $1,896,956.92
of the aggregate principal and accrued unpaid interest due on the Senior Notes into 2,529,275 shares of Common Stock (the &#8220;Conversion&#8221;)
in compliance with the terms of the Amendment, and on May 13, 2025, entered into the Securities Purchase Agreements and Registration Rights
Agreements with the Company. Terms of these agreements were described in, and forms of these agreements were attached as <A HREF="https://www.sec.gov/Archives/edgar/data/1098146/000117184325001608/exh_102.htm" STYLE="-sec-extract: exhibit">Exhibit 10.2</A> and <A HREF="https://www.sec.gov/Archives/edgar/data/1098146/000117184325001608/exh_103.htm" STYLE="-sec-extract: exhibit">Exhibit 10.3</A>, respectively, to, the Company&#8217;s Current Report on
Form 8-K filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on March 21, 2025.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Shares of Common Stock issued upon the conversion of Senior
Notes were issued without registration under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), in reliance upon
the exemption provided under Rule 506 of Regulation D promulgated under the Securities Act and Section 4(a)(2) of the Securities Act as
securities offered and sold only to accredited investors (as defined in Rule 501(a) of Regulation D under the Securities Act) in a transaction
not involving any public offering.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0; margin-bottom: 0">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0"></TD>
    <TD STYLE="width: 1in"><B>Item 3.02</B></TD>
    <TD STYLE="text-align: justify"><B>Unregistered Sales of Equity Securities.</B></TD></TR>
  </TABLE>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify"><B>&#160;</B></P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The information set forth in Item 1.01 above related to
the Conversion is incorporated by reference in this Item 3.02.</P>

<P STYLE="margin: 0; font-size: 10pt"><B>&#160;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0; margin-bottom: 0">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in"><B>Item 5.02</B></TD>
    <TD><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
        Officers.</B></TD></TR>
  </TABLE>

<P STYLE="margin: 0; font-size: 10pt"><B></B></P>

<P STYLE="margin: 0; font-size: 10pt"><B>&#160;</B></P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">On May 13, 2025, William Paul Simmons was appointed as
the Executive Vice President and Chief Credit Officer of Patriot Bank, N.A., the Company&#8217;s wholly-owned subsidiary (the &#8220;Bank&#8221;).</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Mr. Simmons, 63, joined the Bank from Sunwest Bank where
he served as Chief Credit Officer responsible for all aspects of credit administration, including lending and securities investments since
May 2020. Mr. Simmons has over 35 years of banking and financial services industry experience, including leadership roles with Citigroup,
GE Capital, Apollo Real Estate Advisors, and Zions Bancorporation. He served as Chief Credit Officer for two publicly held banks Silvergate
Bank and Banc of California prior to joining Sunwest Bank. He received his Bachelor of Science degree from Brigham Young University and
an MBA from the University of Rochester, Simon School of Business.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">On May 15, 2025, the Company entered into an employment
agreement (the &#8220;Simmons Employment Agreement&#8221;) with Mr. Simmons, dated as of April 30, 2025.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company has previously reported that Angie Miranda
was appointed as the Executive Vice President and Chief Risk Officer of the Bank, to be effective as of May 6, 2025, and that the compensation
to Ms. Miranda was being negotiated. On May 15, 2025, the Company entered into an employment agreement with Angie Miranda (the &#8220;Miranda
Employment Agreement&#8221; and together with the Simmons Employment Agreement, the &#8220;Employment Agreements&#8221;), dated as of
April 30, 2025.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Under the Employment Agreements, the term of employment
of each executive ends on April 30, 2028 (the &#8220;Employment Period&#8221;); provided, however, that, commencing on April 30, 2027,
and on each anniversary of such date (such date and each annual anniversary thereof, a &#8221;Renewal Date&#8221;), unless previously
terminated, the Employment Period will automatically be extended so as to terminate two years from such Renewal Date.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">During the Employment Period, Mr. Simmons will receive
an annual base salary (the &#8220;Annual Base Salary&#8221;) at a rate of not less than $400,000 and Ms. Miranda will receive the Annual
Base Salary of not less than $350,000, in each case, payable in accordance with the Company&#8217;s normal payroll policies and subject
to the review for increase at least annually by the Compensation Committee of the Board of Directors of the Company pursuant to customary
performance review policies. With respect to each fiscal year ending during the Employment Period, the executive will be eligible to receive
an annual bonus (the &#8220;Annual Bonus&#8221;) under the Company&#8217;s 2025 Omnibus Equity Incentive Plan (the &#8220;Plan&#8221;),
with an annual target of at least 50% of the Annual Base Salary, prorated for any partial year, in either cash or in the form of equity
awards.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company is obligated to issue, within ninety (90) days
following the closing of the Private Placement, an initial equity award of restricted stock units (&#8220;RSUs&#8221;) under the Plan
(the &#8220;Initial Equity Award&#8221;) to each of Mr. Simmons and Ms. Miranda. Mr. Simmons&#8217; Initial Equity Award represents the
right to receive 1,000,000 shares of Common Stock and Ms. Miranda&#8217;s Initial Equity Award represents the right to receive 450,000
shares of Common Stock, in each case, subject to the terms of the applicable Employment Agreement and award agreement. RSUs vest in three
equal annual installments beginning on April 30, 2026, subject to each executive&#8217;s continued employment through each applicable
vesting date.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company is also obligated to issue to Mr. Simmons an
annual equity award of RSUs (the &#8220;Annual Equity Award&#8221;) within thirty (30) days following the end of each calendar year during
the term of the Simmons Employment Agreement. The Annual Equity Award represents the right to receive the number of shares of Common Stock
equal to 0.5% multiplied by the number of then outstanding shares of Common Stock and shares of Common Stock issuable upon the conversion
of preferred stock or convertible debt instruments, subject to certain exceptions, as of the most recent year-end minus the greater of
(i) the number of shares of Common Stock previously issued to Mr. Simmons in connection with his Initial Equity Award and Annual Equity
Awards and (ii) 100,000,000 shares of Common Stock.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Within ten business days following the date on which the
RSUs are vested, the Company will be obligated to deliver to each executive: (i) to the extent the Plan has not been approved by the Company&#8217;s
shareholders, cash equal to the fair market value of one share of Common Stock for each RSU that vested on the applicable vesting date;
or (ii) to the extent the Plan has been approved by the Company&#8217;s shareholders, one share of Common Stock for each RSU that vested.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Employment Agreements also contain certain termination,
claw back, confidentiality and other customary provisions.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The foregoing description of the Employment Agreements does not purport to be complete and is qualified in its entirety by reference to
the full text of these documents, copies of which are attached to this Current Report on Form 8-K as <A HREF="exh_101.htm">Exhibit 10.1</A> and <A HREF="exh_102.htm">Exhibit 10.2</A>, respectively,
and incorporated by reference herein.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

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    <TD STYLE="width: 1in"><B>Item 5.03</B></TD>
    <TD><B>Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.</B></TD></TR>
  </TABLE>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">On May 15, 2025, the Board of Directors of the Company
approved an amendment and restatement of the Company&#8217;s bylaws (the &#8220;Amended and Restated Bylaws&#8221;), effective as of the
same date. Among other things, the amendments contained in the Amended and Restated Bylaws provide that any action required or permitted
by any provision of Connecticut law to be taken at a shareholders&#8217; meeting may be taken without a meeting and without prior notice,
if consents in writing setting forth the action so taken are signed by the holders of outstanding shares having not less than the minimum
number of votes that would be required to authorize such action at a shareholders meeting.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Bylaws also contain conforming, clarifying, and updating
changes to supplement the above amendments, as well as certain other routine and technical updates and revisions.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The foregoing description of amendments set forth in the
Amended and Restated Bylaws does not purport to be complete and is qualified in its entirety by the full text of the Amended and Restated
Bylaws, a copy of which is attached to this Current Report on Form 8-K as <A HREF="exh_31.htm">Exhibit 3.1</A> and incorporated by reference herein.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&#160;</P>

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    <TD STYLE="width: 1in"><B>Item 7.01</B></TD>
    <TD><B>Regulation FD Disclosure.</B></TD></TR>
  </TABLE>

<P STYLE="margin: 0; font-size: 10pt"><B>&#160;</B></P>

<P STYLE="margin: 0; font-size: 10pt; text-indent: 0.5in">On May 19, 2025, the Company issued a press release announcing new members
of the Board of Directors and management of the Bank. The press release is attached as <A HREF="exh_991.htm">Exhibit 99.1</A> to this Current Report on Form 8-K
and incorporated into this Item 7.01 by reference.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The information in this Item 7.01, including <A HREF="exh_991.htm">Exhibit 99.1</A>
attached hereto, shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference
in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.</P>

<P STYLE="margin: 0; font-size: 10pt"><B>&#160;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0; margin-bottom: 0">
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    <TD STYLE="width: 1in"><B>Item 8.01</B></TD>
    <TD><B>Other Events.</B></TD></TR>
  </TABLE>

<P STYLE="margin: 0; font-size: 10pt"><B>&#160;</B></P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company currently plans to hold its 2025 Annual Meeting
of Shareholders (the &#8220;Annual Meeting&#8221;) on June 26, 2025. The Company has set the record date for determining the shareholders
of record who will be entitled to vote at the Annual Meeting as the close of business on May 16, 2025. The time and location of the Annual
Meeting will be as set forth in the Company&#8217;s definitive proxy statement for the Annual Meeting to be filed with the SEC. Because
the scheduled date of the Annual Meeting is more than 30 days before the anniversary of the Company&#8217;s 2024 Annual Meeting of Shareholders
held on December 18, 2024, established deadlines regarding the submission of shareholder proposals pursuant to Rule 14a-8 (&#8220;Rule
14a-8&#8221;) under the Exchange Act for the Annual Meeting are no longer applicable. The Company is hereby providing notice of certain
deadlines for the submission of shareholder proposals in connection with the Annual Meeting in accordance with Rule 14a-5(f) under the
Exchange Act, and is informing shareholders of the new dates described below for submitting shareholder proposals and other matters.</P>

<P STYLE="margin: 0; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt"></P>

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<P STYLE="margin: 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">A shareholder intending to present (i) a proposal to be
included in the proxy statement for the Annual Meeting pursuant to Rule 14a-8 or (ii) any director nomination or other proposal that any
shareholder intends to present at the Annual Meeting but not seek to have included in the proxy materials pursuant to Rule 14a-8, must
deliver the proposal or nomination in writing to the Company&#8217;s Secretary at its corporate office at 900 Bedford Street, Stamford,
CT, 06901 no later than a reasonable time before we begin to print and mail the proxy materials for the Annual Meeting. To be considered
for inclusion in this year&#8217;s proxy materials for the Annual Meeting, shareholder proposals must be submitted in writing on or before
the close of business on May 23, 2025, which the Company believes to be a reasonable deadline under the applicable rules of the Exchange
Act. In addition to complying with such deadline, shareholder proposals intended to be considered for inclusion in the Company&#8217;s
proxy materials for the Annual Meeting must also comply with Connecticut law, the Company&#8217;s Amended and Restated Bylaws, as well
as all applicable rules and regulations promulgated by the SEC under the Exchange Act. Any director nominations and shareholder proposals
received after such deadline will be considered untimely and will not be considered for inclusion in the proxy materials for the Annual
Meeting nor will it be considered at the Annual Meeting. The public announcement of an adjournment or postponement of the date of the
Annual Meeting will not commence a new time period (or extend any time period) for submitting a proposal pursuant to Rule 14a-8. In addition,
to comply with the universal proxy rules, shareholders who intend to solicit proxies in support of director nominees other than the Company&#8217;s
nominees must provide notice that sets forth the information required by Rule 14a-19 under the Exchange Act by May 29, 2025, the tenth
calendar day following the date of this Current Report on Form 8-K publicly announcing the date of the Annual Meeting.</P>

<P STYLE="margin: 0; font-size: 10pt"><B>&#160;</B></P>

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    <TD STYLE="width: 1in"><B>Item 9.01</B></TD>
    <TD><B>Financial Statements and Exhibits.</B></TD></TR>
  </TABLE>

<P STYLE="margin: 0; font-size: 10pt"><B>&#160;</B></P>

<P STYLE="margin: 0; font-size: 10pt">(d) Exhibits.</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: justify">&#160;</P>

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        <A HREF="exh_31.htm">3.1</A></TD>
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    <TD STYLE="width: 94%">
        <A HREF="exh_31.htm">Amended and Restated Bylaws</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="exh_101.htm">10.1</A></TD>
    <TD>&#160;</TD>
    <TD><A HREF="exh_101.htm">Employment Agreement with William Paul Simmons</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><A HREF="exh_102.htm">10.2</A></TD>
    <TD>&#160;</TD>
    <TD><A HREF="exh_102.htm">Employment Agreement with Angie Miranda</A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">
        <A HREF="exh_991.htm">99.1</A></TD>
    <TD>
        <P STYLE="margin: 0; font-size: 10pt; border-right-width: 0in; border-right-color: Black; border-left-width: 0in; border-left-color: Black">&#160;</P></TD>
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        <A HREF="exh_991.htm">Press Release</A></TD></TR>
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    <TD STYLE="text-align: left">
        <P STYLE="margin: 0; font-size: 10pt; text-align: left; border-right-width: 0in; border-right-color: Black; border-left-width: 0in; border-left-color: Black">104</P></TD>
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    <TD>
        <P STYLE="margin: 0; font-size: 10pt; text-align: justify; border-right-width: 0in; border-right-color: Black; border-left-width: 0in; border-left-color: Black">Cover
        Page Interactive Data File (embedded within the Inline XBRL document)</P></TD></TR>
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<P STYLE="margin: 0 0.1in 0 0; font-size: 10pt"><B>&#160;</B></P>

<P STYLE="margin: 0 0.1in 0 0; font-size: 10pt"><B>Additional Information and Where to Find It</B></P>

<P STYLE="margin: 0 0.1in 0 0; font-size: 10pt"><B>&#160;</B></P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: justify; text-indent: 0.4in">The Company filed a preliminary proxy statement with
the SEC relating to the Annual Meeting. INVESTORS AND SECURITY HOLDERS AND OTHER INTERESTED PARTIES ARE URGED TO READ THE DEFINITIVE PROXY
STATEMENT AND OTHER DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MATTERS RELATED TO THE ANNUAL MEETING. The definitive proxy statement and other documents
relating to the Annual Meeting (when they are available) can be obtained free of charge from the SEC&#8217;s website at www.sec.gov. These
documents (when they are available) can also be obtained free of charge from the Company upon written request by directing such request
to the Company at 900 Bedford Street, Stamford, CT, 06901.</P>

<P STYLE="margin: 0 0.1in; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0 0.1in 0 0; font-size: 10pt"><B>No Solicitation</B></P>

<P STYLE="margin: 0 0.1in; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: justify; text-indent: 0.4in">This Current Report on Form 8-K is for informational
purposes only and is not intended to and shall not constitute a proxy statement or the solicitation of a proxy, consent or authorization
from any investor or securityholder with respect to the Annual Meeting and is not intended to and shall not constitute a solicitation
of any vote of approval.</P>

<P STYLE="margin: 0 0.1in; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0 0.1in 0 0; font-size: 10pt"><B>Participants in Solicitation</B></P>

<P STYLE="margin: 0 0.1in; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: justify; text-indent: 0.4in">The Company and its directors, executive officers and
other members of its management may be deemed to be participants in the solicitation of proxies in connection with the Annual Meeting
under the SEC rules. Information about the Company&#8217;s directors and executive officers and their ownership of the Company&#8217;s
securities is set forth in the Company&#8217;s filings with the SEC, including the Company&#8217;s Annual Report on Form 10-K for the
fiscal year ended December 31, 2024, which was filed with the SEC on April 15, 2025. Additional information about the interests of those
participants may be obtained from reading the definitive proxy statement and other documents relating to the Annual Meeting when they
become available. When available, these documents can be obtained free of charge from the sources indicated above.</P>

<P STYLE="margin: 0 0.1in; font-size: 10pt; text-align: justify">&#160;</P>

<P STYLE="margin: 0 0.1in; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&#160;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt"><B></B></P>

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<P STYLE="margin: 0; font-size: 10pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="margin: 0; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: justify; text-indent: 0.4in">Pursuant to the requirements of the Securities Exchange
Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="margin: 0; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0; font-size: 10pt">&#160;</P>

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    <TD>&#160;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>PATRIOT NATIONAL BANCORP, INC.</B></FONT></TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&#160;</TD>
    <TD STYLE="width: 3%">&#160;</TD>
    <TD STYLE="width: 37%">&#160;</TD>
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  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">May 19, 2025</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Steven Sugarman</FONT></TD>
    <TD>&#160;</TD></TR>
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    <TD>&#160;</TD>
    <TD><FONT STYLE="font-size: 10pt">Steven Sugarman</FONT></TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-size: 10pt">President</FONT></TD>
    <TD>&#160;</TD></TR>
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<P STYLE="margin: 0pt 0; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&#160;</P>

<P STYLE="margin: 0">&#160;</P>

<P STYLE="margin: 0">&#160;</P>

<P STYLE="margin: 0">&#160;</P>

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<P STYLE="text-align: right; margin: 0pt"><B>Exhibit 3.1</B></P>

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

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><B><U>Patriot National Bancorp, Inc. (the &ldquo;Corporation&rdquo;)</U></B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><B><U>Amended and Restated By-Laws</U></B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">May 15, 2025</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><B>Article I.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><I>Meetings of Shareholders</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 1.1. <U>Annual Meeting</U>. The regular annual meeting of the shareholders
to elect directors and transact whatever other business may properly come before the meeting, shall be held by remote communications,
at the main office of the Corporation, or such other place as the board of directors (the &ldquo;Board&rdquo;) may designate on such other
date in the months of April, May or June of each year or such other date as the Board may designate. Notice of the meeting shall be mailed,
first-class mail, postage prepaid, at least 10 days and no more than 60 days prior to the date thereof, addressed to each shareholder
at his/her address appearing on the books of the Corporation. If, for any cause, an election of directors is not made on that date, or
in the event of a legal holiday, on the next following banking day, an election may be held on any subsequent day within 60 days of the
date fixed, to be designated by the Board, or, if the directors fail to fix the date, by shareholders representing two thirds of the shares.
In all cases at least 10 days advance notice of the meeting shall be given to the shareholders by first class mail.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 1.1.1. <U>Special Meetings</U>. Except as otherwise specifically provided
by statute, special meetings of the shareholders may be called for any purpose at any time by the Board or by any two (2) or more shareholders
owning, in the aggregate, not less than twenty (20%) percent of the stock of the Corporation. Every such special meeting, unless otherwise
provided by law, shall be called by mailing, first-class mail, postage prepaid, not less than 10 days nor more than 60 days prior to the
date fixed for the meeting, to each shareholder at the address appearing on the books of the Corporation a notice stating the purpose
of the meeting. A special meeting may be called by shareholders or the Board to amend the articles of Corporation or bylaws, whether or
not such bylaws may be amended by the Board in the absence of shareholder approval.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 1.2. <U>Record Date</U>. The Board may fix a record date for determining
shareholders entitled to notice and to vote at any meeting, in reasonable proximity to the date of giving notice to the shareholders of
such meeting; provided that in no event may a record date be more than 70 days before the meeting. The record date for determining shareholders
entitled to demand a special meeting is the date the first shareholder signs a demand for the meeting describing the purpose or purposes
for which it is to be held.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">If an annual or special shareholders&rsquo; meeting is adjourned to a different date,
time, or place, notice need not be given of the new date, time or place, if the new date, time or place is announced at the meeting before
adjournment, unless any additional items of business are to be considered, or the Corporation becomes aware of an intervening event materially
affecting any matter to be voted on more than 10 days prior to the date to which the meeting is adjourned. If a new record date for the
adjourned meeting is fixed, however, notice of the adjourned meeting must be given to persons who are shareholders as of the new record
date.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 1.3. Shareholder Action Without Meeting. Any action required or permitted
by any provision of Connecticut law to be taken at a shareholders' meeting may be taken without a meeting, and without prior notice, if
consents in writing setting forth the action so taken are signed by the holders of outstanding shares having not less than the minimum
number of votes that would be required to authorize or take the action at a meeting at which all shares entitled to vote on the action
were present and voted. The written consent shall bear the date of signature of the shareholder who signs the consent and be delivered
to the corporation for inclusion in the minutes or filing with the corporate records.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 1.4. <U>Nominations of Directors</U>. Nominations for election to the Board
may be made by the Board or by any stockholder of any outstanding class of capital stock of the Corporation entitled to vote for the election
of directors. Nominations, other than those made by or on behalf of the current directors of the Corporation, shall be made in writing
and shall be delivered or mailed to the president of the Corporation, not less than 14 days nor more than 50 days prior to any meeting
of shareholders called for the election of directors, provided, however, that if less than 21 days&rsquo; notice of the meeting is given
to shareholders, such nomination shall be mailed or delivered to the president of the Corporation not later than the close of business
on the seventh day following the day on which the notice of meeting was mailed. Such notification shall contain the following information
to the extent known to the notifying shareholder:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

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    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">The name and address of each proposed nominee.</FONT></TD></TR>
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    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">The principal occupation of each proposed nominee.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">The total number of shares of capital stock of the Corporation that will be voted for each proposed nominee.</FONT></TD></TR>
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    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">The name and residence address of the notifying shareholder.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">The number of shares of capital stock of the Corporation owned by the notifying shareholder.</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 0.25in; font-size: 10pt">Nominations not made in accordance herewith may, in his/her discretion, be disregarded
by the chairperson of the meeting, and upon his/her instructions, the vote tellers may disregard all votes cast for each such nominee.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 1.5. <U>Judges of Election</U>. Every election of directors shall be managed
by three judges, who shall be appointed from among the shareholders by the Board. The judges of election shall hold and conduct the election
at which they are appointed to serve. After the election, they shall file with the secretary of the Corporation a certificate signed by
them, certifying the result thereof and the names of the directors elected. The judges of election, at the request of the chairperson
of the meeting, shall act as tellers of any other vote by ballot taken at such meeting, and shall certify the result thereof.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 1.6. <U>Proxies</U>. Shareholders may vote at any meeting of the shareholders
by proxies duly authorized in writing. Proxies shall be valid only for one meeting, to be specified therein, and any adjournments of such
meeting. Proxies shall be dated and filed with the records of the meeting. Proxies with rubber stamped facsimile signatures may be used
and unexecuted proxies may be counted upon receipt of a confirming telegram from the shareholder. Proxies meeting the above requirements
submitted at any time during a meeting shall be accepted. Electronic proxy voting shall be permitted as provided under Connecticut law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 1.7. <U>Quorum</U>. A majority of the outstanding capital stock, represented
in person or by proxy, shall constitute a quorum at any meeting of shareholders, unless otherwise provided by law, or by the shareholders
or directors pursuant to Section 8.2, but less than a quorum may adjourn any meeting, from time to time, and the meeting may be held,
as adjourned, without further notice. A majority of the votes cast shall decide every question or matter submitted to the shareholders
at any meeting, unless otherwise provided by law or by the Certificate of Incorporation, or by the shareholders or directors pursuant
to Section 8.2.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><B>Article II.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><I>Directors</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 2.1. <U>Board of Directors</U>. The Board shall have the power to manage
and administer the business and affairs of the Corporation. Except as expressly limited by law, all corporate powers of the Corporation
shall be vested in and may be exercised by the Board.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 2.2. <U>Number</U>. The Board shall consist of not less than five nor more
than twenty-five members, the exact number within such minimum and maximum limits to be fixed and determined from time to time by resolution
of a majority of the full Board or by resolution of a majority of the shareholders at any meeting thereof.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 2.3. <U>Organization Meeting</U>. The secretary, upon receiving the certificate
of the judges, of the result of any election, shall notify the directors-elect of their election and of the time at which they are required
to meet at the main office of the Corporation to organize the new Board and elect and appoint officers of the Corporation for the succeeding
year. Such meeting shall be held on the day of the election or as soon thereafter as practicable and, in any event, within 30 days thereof.
If, at the time fixed for such meeting, there shall not be a quorum, the directors present may adjourn the meeting, from time to time,
until a quorum is obtained.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.25in; font-size: 10pt">Section 2.4. <U>Regular Meetings</U>. The regular meetings of the Board shall be
held, without notice, on the third Tuesday of each month at the main office or other such place as the Board may designate. When any regular
meeting of the Board falls upon a holiday, the meeting shall be held on the next banking business day unless the Board shall designate
another day.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 2.5. <U>Special Meetings</U>. Special meetings of the Board may be called
by the President of the Corporation, or at the request of two or more directors. Each member of the Board shall be given notice stating
the time and place by telegram, letter, or in person, of each special meeting.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 2.6. <U>Quorum</U>. A majority of the director positions on the Board shall
constitute a quorum at any meeting, except when otherwise provided by law, or the bylaws, but a less number may adjourn any meeting, from
time to time, and the meeting may be held, as adjourned, without further notice. If the number of directors is reduced below the number
that would constitute a quorum, no business may be transacted, except selecting directors to fill vacancies in conformance with Section
2.7. If a quorum is present, the Board may take action through the vote of a majority of the directors who are in attendance.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 2.7. <U>Vacancies</U>. When any vacancy occurs among the directors, a majority
of the remaining members of the Board may appoint a director to fill such vacancy at any regular meeting of the Board, or at a special
meeting called for that purpose at which a quorum is present, or if the directors remaining in office constitute fewer than a quorum of
the Board, by the affirmative vote of a majority of all the directors remaining in office, or by shareholders at a special meeting called
for that purpose, in conformance with Section 1.2 of these by-laws. At any such shareholder meeting, each shareholder entitled to vote
shall have the right to multiply the number of votes he or she is entitled to cast by the number of vacancies being filled and cast the
product for a single candidate or distribute the product among two or more candidates.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">A vacancy that will occur at a specific later date (by reason of a resignation effective
at a later date) may be filled before the vacancy occurs but the new director may not take office until the vacancy occurs.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 2.8. <U>Resignation</U>. A director may resign at any time by delivering
written notice to the Board, its chairperson or to the Corporation, which resignation shall be effective when the notice is delivered
unless the notice specifies a later effective date.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 2.9. <U>Removal</U>. A director may be removed by shareholders at a meeting
called to remove him or her, when notice of the meeting stating that the purpose or one of the purposes is to remove him or her is provided,
if there is a failure to fulfill one of the affirmative requirements for qualification, or for cause; provided, however, that a director
may not be removed if the number of votes sufficient to elect him or her under cumulative voting is voted against his or her removal.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><B>Article III.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><I>Committees of the Board</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">The Board must formally ratify written policies authorized by committees of the Board
before such policies become effective. Each committee must have one or more member(s), who serve at the pleasure of the Board. Provisions
of the Certificate of Incorporation and bylaws governing place of meetings, notice of meetings, quorum and voting requirements of the
Board, apply to committees and their members as well. The creation of a committee and appointment of members to it must be approved by
the Board. The membership and roles of each committee must conform to applicable Securities and Exchange Commission and NASDAQ listing
requirements.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 3.1. <U>Executive Committee</U>. There shall be an executive committee composed
at least three Directors including the President, appointed by the Board annually or more often. The executive committee shall have the
power and responsibility of monitoring the implementation by management of policies established by the Board, and to exercise, when the
Board is not in session, all other powers of the Board that may lawfully be delegated, and shall review for approval any contracts with
third parties authorized by the Board prior to execution thereof. The executive committee shall keep minutes of its meetings.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.25in; font-size: 10pt">Section 3.2. <U>Audit Committee</U>. There shall be an audit committee composed of
not less than three directors, at least one of whom shall be independent, if the Board has an independent director, appointed by the Board
annually or more often. The duty of that committee shall be to (i) cause suitable audits to be made by auditors engaged by the Audit Committee
on the Corporation&rsquo;s behalf, (ii) pre-approve all audit services and permitted non-audit services provided by the auditors, and
(iii) such other responsibilities as determined by the Board. The Audit Committee or its Chairman also discusses with the independent
auditors the auditors&rsquo; review of unaudited quarterly financial statements. The Audit Committee shall keep minutes of its meetings.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 3.3. Reserved.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 3.4. <U>Compensation, Nomination and Governance Committee</U>. There shall
be a compensation, nomination and governance committee composed of not less than three directors, appointed by the Board annually or more
often. The Compensation, Nomination, and Governance Committee shall have the power and responsibility to determine executive compensation,
consider, and recommend to the full Board nominees for directors of the Corporation and its subsidiary Patriot Bank NA, and oversee the
Governance of the Company. The Compensation, Nomination and Governance Committee is also responsible for reporting and recommending from
time to time to the Board matters related to corporate governance. The Compensation, Nomination and Governance Committee shall keep minutes
of its meetings.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 3.5. <U>Other Committees</U>. The Board may appoint, from time to time, from
its own members other committees of one or more persons, for such purposes and with such powers as the Board may determine.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">However, a committee may not:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 3%; font-size: 10pt"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Authorize distributions of assets or dividends.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Approve action required to be approved by shareholders.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Fill vacancies on the Board or any of its committees.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font-size: 10pt; margin: 0pt 0"></P></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Amend the Certificate of Corporation.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Adopt, amend or repeal bylaws.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">(6)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Authorize or approve issuance or sale or contract for sale of shares, or determine the designation and relative rights, preferences and limitations of a class or series of shares.</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: center"><B>Article IV.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><I>Officers and Employees</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 4.1. <U>Chairperson of the Board</U>. The Board shall appoint one of its
members to be the chairperson of the Board to serve at its pleasure. Such person shall preside at all meetings of the Board. The chairperson
of the Board shall supervise the carrying out of the policies adopted or approved by the Board; may be granted by the Board general executive
powers, as well as the specific powers conferred by these bylaws; and shall also have and may exercise such further powers and duties
as from time to time may be conferred upon, or assigned by the Board.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 4.2. <U>President</U>. The Board shall appoint one of its members to be the
president of the Corporation. In the absence of the chairperson, the president shall preside at any meeting of the Board. The president
shall have general executive powers, and shall have and may exercise any and all other powers and duties pertaining by law, regulation,
or practice, to the office of president, or imposed by these bylaws. The president shall also have and may exercise such further powers
and duties as from time to time may be conferred, or assigned by the Board.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 4.3. <U>Vice Presidents</U>. The Board may appoint one or more vice presidents,
and one or more senior or executive vice presidents, who may also include a chief operating officer, a chief financial officer, a treasurer,
a chief risk officer, a chief credit officer, or such other executive vice presidents as may be determined by the Board. Each vice president
shall have such powers and duties as may be assigned by the Board. One vice president shall be designated by the Board, in the absence
of the president, to perform all the duties of the president.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in"></P>

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<P STYLE="margin: 0pt 0 0pt 0.25in; font-size: 10pt">Section 4.4. <U>Secretary</U>. The Board shall appoint a secretary, cashier, or other
designated officer who shall be secretary of the Board and of the Corporation, and shall keep accurate minutes of all meetings. The secretary
shall attend to the giving of all notices required by these bylaws; shall be custodian of the corporate seal, records, documents and papers
of the Corporation; shall provide for the keeping of proper records of all transactions of the Corporation; shall have and may exercise
any and all other powers and duties pertaining by law, regulation or practice, to the office of cashier, or imposed by these bylaws; and
shall also perform such other duties as may be assigned from time to time, by the Board.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 4.5. <U>Other Officers</U>. The Board may appoint one or more assistant vice
presidents, one or more trust officers, one or more assistant secretaries, one or more assistant cashiers, one or more managers and assistant
managers of branches and such other officers and attorneys in fact as from time to time may appear to the Board to be required or desirable
to transact the business of the Corporation. Such officers shall respectively exercise such powers and perform such duties as pertain
to their several offices, or as may be conferred upon, or assigned to, them by the Board, the chairperson of the Board, or the president.
The Board may authorize an officer to appoint one or more officers or assistant officers.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 4.6. <U>Reserved.</U></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 4.7. <U>Resignation</U>. An officer may resign at any time by delivering
notice to the Corporation. A resignation is effective when the notice is given unless the notice specifies a later effective date.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><B>Article V.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 5.1. <U>Transfers</U>. Shares of stock, if certificated, shall be transferable
on the books of the Corporation. All transfers of stock shall be recorded on the books of the Corporation kept at an office of the Corporation
or by transfer agents designated to transfer shares of the stock of the Corporation. Any or all of the signatures may be made by facsimile.
Every person becoming a shareholder by such transfer shall, in proportion to his or her shares, succeed to all rights of the prior holder
of such shares. The Board may impose conditions upon the transfer of the stock reasonably calculated to simplify the work of the Corporation
with respect to stock transfers, voting at shareholder meetings, and related makers and to protect it against fraudulent transfers.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 5.2. <U>Certificates for Stock</U>. The shares of the Corporation&rsquo;s
stock may but need not be represented by a certificate in accordance with the laws of the State of Connecticut. Any certificates representing
shares of stock shall bear the manual or facsimile signature of the president and secretary, assistant secretary, cashier, assistant cashier,
or any other officer appointed by the Board for that purpose, to be known as an authorized officer, and the seal of the Corporation shall
be engraved thereon. Any certificate shall recite on its face that the stock represented thereby is transferable only upon the books of
the Corporation properly endorsed. Within a reasonable time after the issue or transfer of shares without certificates, the Corporation
shall send the shareholder a written statement of the information required on certificates by Connecticut law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">The Board may adopt or use procedures for replacing lost, stolen, or destroyed stock
certificates as permitted by law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><B>Article VI.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><I>Corporate Seal</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">The president or such other officer thereunto designated by the Board, shall have
authority to affix the corporate seal to any document requiring such seal, and to attest the same. Such seal shall be substantially in
the following form:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">(Impression)<BR>
(of)<BR>
(Seal)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><B></B></P>

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<P STYLE="margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: center"><B>Article VII.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><I>Miscellaneous Provisions</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 7.1. <U>Fiscal Year</U>. The fiscal year of the Corporation shall be the
calendar year.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 7.2. <U>Execution of Instruments</U>. All agreements, indentures, mortgages,
deeds, conveyances, transfers, certificates, declarations, receipts, discharges, releases, satisfactions, settlements, petitions, schedules,
accounts, affidavits, bonds, undertakings, proxies and other instruments or documents may be signed, executed, acknowledged, verified,
delivered or accepted on behalf of the Corporation by the president, or such other officer designated by the Board in accordance with
the procedures and limitations established by the Board. Any such instruments may also be executed, acknowledged, verified, delivered
or accepted on behalf of the Corporation in such other manner and by such other officers as the Board may from time to time direct. The
provisions of this section 7.2 are supplementary to any other provision of these bylaws.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 7.3. <U>Records</U>. The Certificate of Incorporation of the Corporation,
the bylaws and the proceedings of all meetings of the shareholders, the Board, and standing committees of the Board, shall be recorded
in appropriate minute books provided for that purpose. The minutes of each meeting shall be signed by the secretary, cashier or other
officer appointed to act as secretary of the meeting.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 7.4. <U>Governing Law</U>. The laws of the State of Connecticut shall govern
the Corporation&rsquo;s corporate governance procedures.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><B>Article VIII.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><I>Bylaws</I></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 8.1. <U>Inspection</U>. A copy of the bylaws, with all amendments, shall
at all times be kept in a convenient place at the main office of the Corporation, and shall be open for inspection to all shareholders
during banking hours.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Section 8.2. <U>Amendments</U>. The bylaws may be amended, altered or repealed, at
any regular meeting of the Board, by a vote of a majority of the total number of the directors. The Corporation&rsquo;s shareholders may
amend or repeal the bylaws even though the bylaws also may be amended or repealed by its Board.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><B>SECRETARY&rsquo;S CERTIFICATE</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">I, of Patriot National Bancorp, Inc., hereby certify that the foregoing bylaws are
the amended and restated bylaws of the Corporation, and all of them are now lawfully in force and effect.</P>

<P STYLE="margin: 0pt 0 0pt 0.25in; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in"></P>

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    <TD STYLE="width: 1%">&nbsp;</TD>
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    <TD STYLE="width: 15%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Date: May 15, 2025</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Frederick Staudmyer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Frederick Staudmyer </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Secretary </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="5">&nbsp;</TD></TR>
  </TABLE>
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<P STYLE="margin: 0pt; font-size: 10pt; text-align: center">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>exh_101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><B>Exhibit 10.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">This EMPLOYMENT AGREEMENT
(this &ldquo;<U>Agreement</U>&rdquo;), dated as of April&nbsp;30, 2025, is entered into by and among Patriot National Bancorp, Inc., a
Connecticut corporation (the &ldquo;<U>Company</U>&rdquo;) and <B>William Paul Simmons </B>(the &ldquo;<U>Executive</U>&rdquo;). The Company
and Executive are each a &ldquo;Party&rdquo; and collectively are the &ldquo;Parties&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">WHEREAS, The Executive
has served as a Consultant and Advisor to the Company to facilitate the closing of the Private Placement entered into on March 20, 2025
(the &ldquo;Private Placement&rdquo;) and to help the Bank remediate the Formal Agreement entered into on January 15, 2025 (the &ldquo;Agreement&rdquo;)
and is due reasonable compensation based on the successful completion of the Private Placement,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">WHEREAS, the Company is
the Bank Holding Company for Patriot Bank, NA (the &ldquo;Bank&rdquo;) and Executive is expected to provide services to the Bank and the
Bank will reimburse the Company reasonable market costs, consistent with all applicable regulations, for those services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">WHEREAS, the Executive
has been offered the position of Chief Credit Officer of the Company and of the Bank, subject in each case to receipt of required non-objections
from the Office of the Comptroller of the Currency (the &quot;OCC&quot;) and the Board of Governors of the Federal Reserve System (the
&quot;Federal Reserve&quot;); provided, however, that until such non-objections are received, the Executive shall serve in a non-policy-making
capacity in roles mutually agreed upon by the Executive and the Company and/or the Bank, consistent with applicable regulatory limitations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">WHEREAS, the Company and
the Executive desire to enter into this Agreement as an inducement to have Executive join the Company and in order to reflect the terms
of employment agreed to by the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">NOW, THEREFORE, in consideration
of the mutual covenants and agreements set forth below, and for other good and valuable consideration, the Company and the Executive hereby
agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">1.&nbsp;<U>Effective Date</U>.
The &ldquo;<U>Effective Date</U>&rdquo; shall mean the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">2.&nbsp;<U>Employment
Period</U>. The Company hereby agrees to continue to employ the Executive, and the Executive hereby agrees to continue to serve the Company,
subject to the terms and conditions of this Agreement, for the period commencing on the Effective Date and ending on the three-year anniversary
of the Effective Date (the &ldquo;&nbsp;<U>Employment Period&nbsp;</U>&rdquo;);&nbsp;<U>provided&nbsp;</U>,&nbsp;<U>however&nbsp;</U>,
that, commencing on the second anniversary of the Effective Date, and on each anniversary of such date (such date and each annual anniversary
thereof, a &ldquo;<U>Renewal Date</U>&rdquo;), unless previously terminated, the Employment Period shall automatically be extended so
as to terminate two years from such Renewal Date, unless, prior to the Renewal Date Renewal Date, the Company shall give notice to the
Executive that the Employment Period shall not be so extended. The Employment Period shall automatically terminate upon any termination
of the Executive&rsquo;s employment with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">3.&nbsp;<U>Terms of Employment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(a)&nbsp;<U>Position
and Duties</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(i) During the Employment
Period, the Executive shall serve in such capacity as deemed mutually agreeable to the Company and the Executive, and upon meeting all
regulatory requirements, will serve as EVP, Chief Credit Officer of the Company and assume such duties and responsibilities as are customarily
assigned to such positions. Executive shall also have such other roles and responsibilities at the Company and the Bank as shall be mutually
agreeable, including service as the EVP, Chief Credit Officer and such roles and responsibilities at the Bank as shall be mutually agreeable
between the Executive and the Company (subject to necessary regulatory requirements to assume such position) during the Employment Period.
During the Employment Period, the location of Executive&rsquo;s primary work on a daily basis shall be Stamford, Connecticut or such other
mutually agreeable location. Executive will have an office in the Company&rsquo;s corporate headquarters and in such other locations,
if any, as determined by the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 79.55pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(ii) Notwithstanding
the foregoing, until the Company and the Bank receive the required non-objections from the OCC and the Federal Reserve, the Executive
shall serve in a non-policy-making role or roles at the Company and/or the Bank as mutually determined by the Executive and the Company,
consistent with applicable regulatory requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iii) During the Employment
Period, and excluding any periods of FTO (as defined below) of which the Executive avails himself under this Agreement, the Executive
shall be employed by the Company on a full-time basis and agrees to devote such time as is necessary to discharge the responsibilities
assigned to the Executive hereunder and to use the Executive&rsquo;s reasonable best efforts to perform such responsibilities faithfully
and efficiently. During the Employment Period, it shall not be a violation of this Agreement for the Executive to, either for free or
for personal compensation, (A)&nbsp;serve on corporate, civic, or charitable boards or committees, (B)&nbsp;deliver lectures, fulfill
speaking engagements, or teach at educational institutions, (C)&nbsp;manage personal investments, (D)&nbsp;attend to other business matters,
so long as such activities do not materially interfere with the performance of the Executive&rsquo;s responsibilities as an employee of
the Company in accordance with this Agreement, and (E)&nbsp;subject to his fiduciary duties as an officer and director of the Company,
serve as an officer and/or director, of the entities approved by the Board. The Company and Bank acknowledge the Executive may receive
confidential, attorney-client, and regulatory communications pursuant his role at other companies, and hereby waives any rights, claims,
or demands to such information and to the extent such information inadvertently is provided to the Company or on the Company&rsquo;s premises,
electronic devises, servers, or otherwise, the Company agrees to preserve the confidentiality of such information, not to review such
information and to allow Executive to claw back such information at Executives request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(b)&nbsp;<U>Compensation</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(i)&nbsp;<U>Base Salary</U>.
During the Employment Period, the Executive shall receive an annual base salary (&ldquo;<U>Annual Base Salary</U>&rdquo;) at a rate of
not less than $400,000.00 payable in accordance with the Company&rsquo;s normal payroll policies. The Executive&rsquo;s Annual Base Salary
shall be reviewed for increase at least annually by the Compensation Committee of the Board (the &ldquo;<U>Compensation Committee</U>&rdquo;)
pursuant to customary performance review policies. The review shall consider, among other factors, improvements to the Company&rsquo;s
profitability, regulatory standing , asset size, growth in asset size, and overall financial and operational performance. The Annual Base
Salary shall not be reduced after any increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base
Salary as so increased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(ii)&nbsp;<U>Annual Bonus</U>.
With respect to each fiscal year ending during the Employment Period, the Executive shall be eligible to receive an annual bonus (&ldquo;&nbsp;<U>Annual
Bonus&nbsp;</U>&rdquo;) in cash and/or in an award under the Company&rsquo;s 2025&nbsp;Omnibus Stock Incentive Plan (the &ldquo;&nbsp;<U>Plan&nbsp;</U>&rdquo;)
(or its successor) once approved by shareholders based on the attainment of performance objectives determined and established by the Compensation
Committee, in consultation with the Executive, with an annual target of at least 50% of the Annual Base Salary (the &ldquo;<U>Target Bonus</U>&rdquo;),
prorated for any partial year. The Board may, from time to time, provide executive one or more performance objectives (each a &ldquo;Performance
Objectives&rdquo;) tied to discretionary Performance Bonus payments based on the achievement of such Performance Objectives. The actual
Annual Bonus, which could be higher or lower than the Target Bonus and include any Performance Bonuses earned, shall be determined by
the Company in its reasonable discretion and paid in accordance with customary practice in cash or in equity awards or RSUs with respect
to shares of Company common stock (including restrictive covenants) that are substantially consistent with the terms of equity awards
granted under the Plan to employees of the Company in the ordinary course of business consistent with past practice, as determined by
the Compensation Committee in its discretion;&nbsp;<U>provided&nbsp;</U>,&nbsp;<U>however</U>, that no more than 50% of the actual Annual
Bonus for any year shall be paid in the form of equity awards or RSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iii)&nbsp;<U>Equity
Awards</U>. During the Employment Period, the Executive shall be eligible to participate in the Company&rsquo;s equity compensation plans
as may be in effect from time to time on a basis that is no less favorable than those generally applicable to other senior executives
of the Company. As an inducement to joining the Company, the Company agreed to issue to the Executive the Initial Equity Award within
ninety (90) days following the closing of the Private Placement and shall do so, and within thirty (30) days following the end of each
calendar year, during the term of this Agreement, the Company shall also issue to the Executive the Annual Equity Award (each as defined
below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 79.55pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">All equity grants shall
comply with the restrictions on severance and indemnification agreements and payments to institution-affiliated parties as outlined in
the FDIC Rules and Regulations, Part 359. (See also SR letter 19-12, &ldquo;Statement Regarding Insurance Policies for Directors and Officers,&rdquo;
SR letter 03-6, &ldquo;Guidance Regarding Restrictions on Institutions in Troubled Condition,&rdquo; and SR letter 02-17, &ldquo;Guidance
Regarding Indemnification Agreements and Payments.&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iv) <U>Severance and
Indemnification Rights</U>. Notwithstanding any provision of this Agreement to the contrary, during any period in which the Company or
the Bank is considered to be in &ldquo;Troubled Condition&rdquo; as defined under 12 C.F.R. Part 359 and applicable regulation guidance
(including Federal Reserve SR Letter 03-6), Executive shall not be entitled to receive, and the Company shall not be obliged to pay, and
severance payments, bonuses, equity grants, indemnification payments or other compensation that would violate such rules or require prior
regulatory approval, without such approval having been obtained. . To the extent any such rights or payments are restricted or disallowed
solely due to the Company&rsquo;s or the Bank&rsquo;s status as being in Troubled Condition, such rights shall be deferred but not waived,
and the Company shall be obliged to reinstatement and payment of such deferred rights at the earliest time permitted by applicable law
and regulation, including upon receipt of required regulatory approvals,, or when the Company and the bank are no longer deemed to be
in Troubled Condition . Within thirty (30) days following the date that the Company is no longer considered to be in &ldquo;Troubled Condition&rdquo;,
the Company and Executive will update this Agreement to include severance and indemnification rights customary for similarly situated
executives at peer institutions, retroactive to the extent permitted by applicable law and regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(v) <U>Clawback</U>.
For no more than three years following the grant of any equity payments or other equity compensation, all equity payments or other equity
compensation provided to the Executive under this Agreement shall be subject to such deductions and recovery &ldquo;clawback&rdquo; as
may be required to be made pursuant to law, government regulation, order, or stock exchange listing requirement (or any narrowly tailored
policy of the Company adopted pursuant to any such law, government regulation, order, or stock exchange listing requirement) or by agreement
with, or consent of, the Executive. Any such clawback shall be implemented only to the extent necessary to comply with applicable legal
or regulatory requirements, and shall be applied in a manner that is fair and consistent with the treatment of similarly situated executives.
For the avoidance of doubt, no clawback shall apply to time vested equity or other compensation not subject to mandatory recovery requirements.
Any clawback shall be implemented only after written notice to the Executive.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 79.55pt">(vi)&nbsp;<U>Flexible Time Off</U>.
The Executive shall be entitled to take off as much time as needed or as appropriate (&ldquo;<U>FTO</U>&rdquo;), consistent with his professional
responsibilities and business needs;&nbsp;<U>provided&nbsp;</U>that the Executive is meeting his work responsibilities; and&nbsp;<U>provided</U>,&nbsp;<U>further</U>,
that he is demonstrating a level of commitment and conscientiousness that is sufficient to satisfy his professional responsibilities to
Employer. The Executive will receive his usual base salary during approved FTO unless the Executive is on an extended leave that is unpaid
pursuant to Employer&rsquo;s employee handbook or applicable law (e.g., FMLA, CFRA, or other extended leave). Because FTO is not an accrued
benefit, the Executive will not be eligible for a payout of FTO at the time of separation from Employer, regardless of the reason for
the separation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(vii)&nbsp;<U>Other Employee
Benefit Plans</U>. During the Employment Period, the Executive and/or the Executive&rsquo;s family, as the case may be, shall be eligible
for participation in all benefits under all plans, practices, policies, and programs provided by the Company on a basis that is no less
favorable than those generally applicable or made available to executives of the Company. The Executive shall be eligible for participation
in fringe benefits and perquisite plans, practices, policies, and programs (including, without limitation, expense reimbursement plans,
practices, policies, and programs, as well as retirement and supplemental executive disability and life insurance benefits) on a basis
that is no less favorable than those generally applicable or made available to executives of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(viii) Assignment and
<U>Beneficiaries</U>.Subject to the Company&rsquo;s prior written consent (not to be unreasonably withheld ) , the Executive may assign
or transfer any outstanding equity awards under this Agreement to a trust, family partnership, limited liability company, or similar estate-planning
vehicle, provided such entity is wholly controlled by the Executive and the assignment does not result in an adverse tax or legal consequence
to the Company. Any permitted transferee shall be bound by the terms and conditions of this Agreement and the underlying equity plan,
and no further transfer shall be permitted except by will or by the laws of descent and distribution unless otherwise approved by the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 79.55pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Separately, from time to time, by signing a
form furnished by the Company, the Executive may designate any legal or natural person or persons (who may be designated contingently
or successively) to whom to transfer any outstanding equity awards held by the Executive at the time of his death. If the Executive fails
to designate a beneficiary as provided above, or if the designated beneficiary dies before the Executive or before complete payment or
settlement of the outstanding equity awards, the outstanding equity awards held by the Executive shall be transferred to the Executive&rsquo;s
estate. For purposes of this Agreement, the term &ldquo;<U>designated beneficiary</U>&rdquo; means the person or persons designated by
the Executive as his beneficiary in the last effective beneficiary designation form filed with the Company, or if the Executive has failed
to designate a beneficiary, the Executive&rsquo;s estate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">4.&nbsp;<U>Termination
of Employment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(a)&nbsp;<U>Death or
Disability</U>. The Executive&rsquo;s employment shall terminate automatically upon the Executive&rsquo;s death during the Employment
Period. If the Company determines in good faith that the Disability of the Executive has occurred during the Employment Period (pursuant
to the definition of Disability set forth below), it may provide the Executive with written notice in accordance with Section&nbsp;10(b)
of its intention to terminate the Executive&rsquo;s employment. In such event, the Executive&rsquo;s employment with the Company shall
terminate effective on the 30th day after receipt of such notice by the Executive (the &ldquo;<U>Disability Effective Date</U>&rdquo;);&nbsp;<U>provided&nbsp;</U>that,
within the 30&nbsp;days after such receipt, the Executive shall not have returned to full-time performance of the Executive&rsquo;s duties.
For purposes of this Agreement, &ldquo;<U>Disability</U>&rdquo; shall mean the absence of the Executive from the Executive&rsquo;s duties
with the Company on a full-time basis for 90&nbsp;consecutive days, or a total of 180&nbsp;days in any 12-month period, as a result of
incapacity due to mental or physical illness that is determined to be total and permanent by a physician selected jointly by the Company
or its insurers and the Executive or the Executive&rsquo;s legal representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(b)&nbsp;<U>Cause</U>.
The Company may terminate the Executive&rsquo;s employment during the Employment Period either with or without Cause. For purposes of
this Agreement, &ldquo;<U>Cause</U>&rdquo; shall mean:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(i) the Executive is
convicted of, or pleads guilty or&nbsp;<I>nolo contendere&nbsp;</I>to a charge of commission of a felony involving moral turpitude or
securities or banking laws;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(ii) the Executive has
engaged in willful gross neglect or willful gross misconduct in carrying out his duties, which is reasonably expected to result in material
economic or material reputational harm to the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iii) the Executive is
subject to an action taken by a regulatory body or a self-regulatory organization that materially impairs or prevents the Executive from
performing his duties with the Company that are required under this Agreement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iv) the Executive willfully
breaches any material provision of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For purposes of this Section&nbsp;4(b), 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 Company or at the advice of counsel. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted
by the Board, Bank Board, or upon the instructions of the Board, the Bank Board, or the lead independent director of the Board or based
upon the advice of counsel for the Company shall be conclusively determined to be done, or omitted to be done, by the Executive in good
faith and in the best interests of the Company and therefore not willful. To invoke a termination with Cause on any of the grounds enumerated
under Section&nbsp;4(b)(ii) or Section&nbsp;4(b)(iv), the following process must be followed: (1) the Board, after a duly noticed meeting
with a quorum of Disinterested Directors (as defined below) present, must approve and provide notice to the Executive of the existence
of such grounds within 30 days following the Company&rsquo;s knowledge of such grounds (the &ldquo;Cause Notice&rdquo;); (2) the Executive
shall be provided with 30 days to cure the alleged grounds (the &ldquo;Cure Period&rdquo;); (3) during the Cure Period, the Executive
shall be provided the opportunity to make an in-person and written presentation to the Disinterested Directors from whom the Cause Notice
was provided; (4) the Company shall provide all documents reasonably requested by the Executive that are related to the Cause determination
or whether the directors are Disinterested Directors and not subject to attorney-client privilege, confidentiality obligations or prohibited
from being disclosed pursuant to applicable law or legal process; (5) if, after the Cure Period and taking into account any presentation
by the Executive, the Disinterested Directors determine that Cause exists, the Disinterested Directors shall provide written notice to
the Executive immediately and describe the reasoning of their decision to terminate the Executive&rsquo;s
employment for Cause; (6) the Executive shall then have seven calendar days from receipt of such notice to provide a response to the decision
or otherwise cure the allegedly uncured breaches; and (7) the Disinterested Directors shall conduct a hearing on or after the expiration
of the period set forth in clause (6) in which the Executive shall be entitled to present his response to the conclusion of the Disinterested
Directors after which hearing and considering any response by the Executive, the Disinterested Directors shall make their final decision
on Cause. &ldquo;Disinterested Directors&rdquo; shall be the members of the Board (other than the Executive) who are not party to the
transactions giving rise to the allegation of Cause.</P>

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


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">(c)&nbsp;<U>Good Reason</U>. The Executive&rsquo;s
employment may be terminated by the Executive with Good Reason. For purposes of this Agreement, &ldquo;<U>Good Reason</U>&rdquo; shall
mean, in the absence of a written consent of the Executive, any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(i) the assignment to
the Executive of any duties materially inconsistent with the Executive&rsquo;s position, authority, duties, or responsibilities as contemplated
by Section&nbsp;3(a), any failure to continue the Executive in any of the positions contemplated by Section&nbsp;3(a), or any other action
by the Company that results in a material diminution in such positions or the Executive&rsquo;s authority, duties or responsibilities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(ii) any material breach
of any of the provisions of Section&nbsp;3(b);</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 79.55pt">(iii) any requirement by the
Company that the Executive&rsquo;s services be rendered primarily at a specific location or locations other than those identified in Section
3(a)(i); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iv) any failure by the
Company to comply with Section&nbsp;9(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">To invoke a termination with Good Reason, the
Executive shall provide written notice to the Company of the existence of one or more of the conditions described in clauses&nbsp;(i)
through (iv)&nbsp;within 90&nbsp;days following the Executive&rsquo;s knowledge of the initial existence of such condition or conditions
and the Company shall have 30&nbsp;days following receipt of such written notice (the &ldquo;&nbsp;<U>Cure Period&nbsp;</U>&rdquo;) during
which it may remedy the condition if such condition is reasonably subject to cure. If the Company fails to remedy the condition constituting
Good Reason during the applicable Cure Period, the Executive&rsquo;s &ldquo;separation from service&rdquo; (within the meaning of Section&nbsp;409A
of the Code), must occur, if at all, within 180&nbsp;days following such Cure Period in order for such termination as a result of such
condition to constitute a termination with Good Reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(d)&nbsp;<U>Without Good
Reason</U>. The Executive&rsquo;s employment may be terminated by the Executive without Good Reason at any time. Given the importance
of the Executive&rsquo;s position with Employer, the Executive agrees to make a good faith effort to provide the Company up to 30 days
notice or to enter into a consulting agreement to cooperate with the Company for at least 30 days following the Executive&rsquo;s departure
(the &ldquo;Cooperation Period&rdquo;) During the Cooperation Period, Employer shall continue to pay the Executive compensation equal
to Executive&rsquo;s base salary and the Executive shall be entitled to participate in Employer&rsquo;s benefit plans to the extent permitted
by such plans and applicable law. During the Cooperation Period, Employer reserves the right to (A)&nbsp;change or remove any of the Executive&rsquo;s
duties, (B)&nbsp;require the Executive to remain away from Employer&rsquo;s premises, and/or (C)&nbsp;take such other action as determined
by Employer to aid and assist in the transition process associated with the Executive&rsquo;s departure. During the Notice Period, the
Executive shall continue to act in a manner consistent with this Agreement and his duty of loyalty to Employer. Employer may waive or
terminate the Cooperation Period at any time and for any reason or for no reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(e)&nbsp;<U>Notice of
Termination</U>. Any termination by the Company with Cause, or by the Executive with or without Good Reason, shall be communicated by
Notice of Termination to the other party hereto given in accordance with Section&nbsp;10(b). For purposes of this Agreement, a &ldquo;&nbsp;<U>Notice
of Termination&nbsp;</U>&rdquo; means a written notice that (i)&nbsp;indicates the specific termination provision in this Agreement relied
upon, (ii)&nbsp;to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination
of the Executive&rsquo;s employment under the provision so indicated, and (iii)&nbsp;if the Date of Termination (as defined below) is
other than the date of receipt of such notice, specifies the termination date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(f)&nbsp;<U>Date of Termination</U>.
For purposes of this Agreement, &ldquo;&nbsp;<U>Date of Termination&nbsp;</U>&rdquo; means (i)&nbsp;if the Executive&rsquo;s employment
is terminated by the Company with Cause, or by the Executive with Good Reason, the date of receipt of the Notice of Termination or any
later date specified therein, as the case may be, (ii)&nbsp;if the Executive&rsquo;s employment is terminated by the Company without Cause,
the Date of Termination shall be the date on which the Company notifies the Executive of such termination, (iii)&nbsp;if the Executive&rsquo;s
employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the
Disability Effective Date, as the case may be, and (iv)&nbsp;if the Executive&rsquo;s employment is terminated without Good Reason, the
Date of Termination shall be the earlier of 60&nbsp;days following the Notice Date and such earlier date as designated by Employer.</P>

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


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">5.&nbsp;<U>RESERVED</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">6.&nbsp;<U>No Setoff;
No Mitigation; Legal Fees</U>. The Company&rsquo;s obligation to make the payments provided for in this Agreement and otherwise to perform
its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense, or other claim, right, or action that
the Company may have against the Executive or others. In no event shall the Executive be obligated to seek other employment or take any
other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and, such amounts
shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay as incurred, to the full extent
permitted by law, all legal fees and expenses that the Executive may reasonably incur as a result of any contest by the Company, any affiliates,
or their respective predecessors, successors, or assigns, the Executive, his estate, beneficiaries, or their respective successors and
assigns of the validity or enforceability of, or liability under, any provision of this Agreement (including as a result of any contest
by the Executive about the amount of any payment pursuant to this Agreement);&nbsp;<U>provided</U>&nbsp;that the Executive prevails on
at least one material claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">7. RESERVED</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">8. <U>Definitions</U>.
The following terms shall have the following meanings for purposes of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(i) &ldquo;Adjusted Outstanding
Stock&rdquo; means, as of any date of determination, the total number of outstanding shares of Common Stock of the Company, including
any shares of Common Stock issued upon conversion of any preferred equity or convertible debt instruments, whether such instruments are
outstanding as of the date hereof or issued thereafter, but excluding (i) any shares of Common Stock or Restricted Stock Units issued
after the date of issuance of the Initial Equity Award to employees, officers, directors, or consultants of the Company or its affiliates
as equity compensation for no consideration or for nominal consideration, and (ii) shares issued after the date of issuance of the Initial
Equity Award upon exercise, vesting, or settlement of such awards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(ii) &ldquo;<U>Common
Stock</U>&rdquo; shall mean the voting and non-voting common stock of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iii) &ldquo;<U>Initial
Equity Award</U>&rdquo; equals the amount of Restricted Stock Units equal to 1,000,000 shares of the outstanding Stock of the Company
as of the date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iv) &ldquo;<U>Annual
Equity Award</U>&rdquo; equals the amount of Restricted Stock Units equal to 0.5% multiplied by the Adjusted Outstanding Stock of the
Company as of most recent year-end minus the greater of (i) the amount of Common Stock previously issued pursuant to this Agreement pursuant
to Section 3(b)(iii) and (ii) 100,000,000 shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(v) &ldquo;<U>Restricted
Stock Units</U>&rdquo; or &ldquo;RSUs&rdquo; shall mean restricted stock units in the Company granted to the Executive under the Company&rsquo;s
equity plan, each representing the right to receive one share of the Company&rsquo;s Common Stock , subject to the terms of this Agreement
and the applicable award agreement. RSUs shall vest in three (3) equal annual installments beginning on the first anniversary of this
Agreement, subject to the Executive&rsquo;s continued service through each applicable vesting date, except as otherwise provided herein.
The RSUs shall settle on the date of vesting in the form attached as Exhibit A. They shall not be eligible for accelerated vesting upon
a Change in Control or a Termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(vi) &ldquo;<U>Stock</U>&rdquo;
shall mean the Common Stock plus all equity securities eligible to be converted into Common Stock in the Company, including non-voting
common stock and preferred stock (if any).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">9.&nbsp;<U>Confidential
Information</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(a)&nbsp;<U>Confidential
Information</U>. The Executive shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential information,
knowledge, or data relating to the Company or any of its affiliated companies, and their respective businesses, which shall have been
obtained by the Executive during the Executive&rsquo;s employment with the Company or any of its affiliated companies and which shall
not be or become public knowledge (other than by acts by the Executive or representatives of the Executive in violation of this Agreement).
After termination of the Executive&rsquo;s employment with the Company, neither the Company nor the Executive shall not, without the prior
written consent of the other Party, under a confidentiality or non-disclosure agreement, or as may otherwise be required by law, regulation,
or legal process, communicate or divulge any such information, knowledge, or data to anyone other than the other Party and those designated
by it or as may be required by applicable law, court order, a regulatory body, or arbitrator or other mediator. The Company agrees that
the Executive&rsquo;s mobile number shall remain his property upon any termination for any reason.&nbsp; The Company also agrees that,
notwithstanding any other Company policy, the Executive has a right to privacy over emails on Company servers that involve communications
with his attorney, financial advisors, or his family members, as well as a right to privacy regarding such documents and communications
on other Company paid devices.&nbsp; To the extent not prohibited by law or legal process, bona fide contractual obligations and the directors&rsquo;
fiduciary duties, the Company agrees that it shall (1) notify Executive promptly of any requests, subpoenas or other attempts to access
his personal information and shall provide him an opportunity to object to such requests; (2) not directly or indirectly through a third
party or otherwise attempt to conduct electronic or physical surveillance against the Executive or his family during his employment or
for one year after termination of his employment; and (3) at all times during his employment, promptly inform the Executive of any regulatory
contacts, disclosures, inquiries, subpoenas, or requests relating to Executive or the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(b)&nbsp;<U>Remedies</U>.
The obligations of the Company to make the severance payments to the Executive under Section&nbsp;5, if any, shall be conditioned upon
and subject to the Executive&rsquo;s compliance with all of the terms of this Section&nbsp;8 and the release described in Section&nbsp;5(e)
and, accordingly, in the event that it is finally determined by a court of competent jurisdiction pursuant to the immediately following
sentence of this Section 8(c) or pursuant to Section 11 that the Executive has breached the provisions of Section 8, the obligations of
the Company to make the severance payments to the Executive under Section&nbsp;5 shall cease and the Company shall be entitled to recoupment
of any payments previously made pursuant to such Section. Notwithstanding the foregoing sentence, the Executive and Company each acknowledge
that the other Party would be irreparably injured by any violation of this Agreement, including this Section&nbsp;8, and the Executive
and Company hereby acknowledges and agrees that, in addition to any other remedies available to it for any breach or threatened breach
of this Agreement, including this Section&nbsp;8, the Executive and Company shall be entitled, without posting any bond or proof of damages,
to a preliminary or permanent injunction, restraining order, and/or other equitable or specific performance based relief, restraining
the Executive from any actual or threatened breach of this Agreement, including this Section&nbsp;8. In the event of a dispute under the
Agreement, the Company will pay all legal fees as incurred by Executive in connection with the dispute.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">10.&nbsp;<U>Successors</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(a)&nbsp;<U>Assignment;
Executive&rsquo;s Successors</U>. This Agreement is personal to the Executive and without the prior written consent of the Company shall
not be assignable by the Executive. This Agreement shall inure to the benefit of and be enforceable by the Executive&rsquo;s legal representatives,
heirs, or legatees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(b)&nbsp;<U>Company&rsquo;s
Successors</U>. This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(c)&nbsp;<U>Corporate
Transaction</U>. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise)
to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the
same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in
this Agreement, the &ldquo;<U>Company</U>&rdquo; shall mean the Company as hereinbefore defined and any successor to its business and/or
assets as aforesaid that assumes and agrees to perform this Agreement by operation of law, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">11.&nbsp;<U>Miscellaneous</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(a)&nbsp;<U>Governing
Law; Amendment</U>. This Agreement shall be governed by and construed in accordance with the laws of the State of Connecticut, without
reference to principles of conflict of laws. If, under any such law, any portion of this Agreement is at any time deemed to be in conflict
with any applicable statute, rule, regulation, or ordinance, such portion shall be deemed to be modified or altered to conform thereto.
The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended
or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(b)&nbsp;<U>Notices</U>.
All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other parties or by registered
or certified mail, return receipt requested, postage prepaid, addressed as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 0%">&nbsp;</TD>
    <TD STYLE="width: 0%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 0%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 81%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If&nbsp;to&nbsp;the&nbsp;Executive:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the most recent address</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on file at the Company.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If to the Company:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patriot National Bancorp, Inc.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">900 Bedford Street</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stamford, CT 06901</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention: Board of Directors</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">or to such other address as either party shall
have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually received by
the addressee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(c)&nbsp;<U>Expenses</U>.
The Company shall reimburse Executive for legal fees for this Agreement and related legal documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(d) <U>Severability</U>.
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision
of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(e)&nbsp;<U>Withholding</U>.
The Company may withhold from any amounts payable under this Agreement such federal, state, local, or foreign taxes as shall be required
to be withheld pursuant to any applicable law or regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(f)&nbsp;<U>Survival</U>.
Any provision of this Agreement that by its terms continues after the expiration of the Employment Period or the termination of the Executive&rsquo;s
employment shall survive in accordance with its terms.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(g)&nbsp;<U>Regulatory Requirements</U>.
Notwithstanding anything herein to the contrary, the compensation or benefits provided under this Agreement are subject to modification,
as necessary to comply with requirements imposed by the Board or Board of Directors of the Bank to comply with the &ldquo;Final Interagency
Guidance on Sound Incentive Compensation Policies&rdquo; issued on an interagency basis by the Federal Reserve System, the Office of the
Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Office of Thrift Supervision, effective June&nbsp;25, 2010,
or any amendment, modification, or supplement thereto, which shall be deemed to include, without limitation, any rules adopted pursuant
to Section&nbsp;956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(h)&nbsp;<U>Section&nbsp;409A</U>.
If the Executive determines, in good faith, that any compensation or benefits provided by this Agreement may result in the application
of Section&nbsp;409A of the Code, the Executive shall provide written notice thereof (describing in reasonable detail the basis therefor)
to the Company, and the Company shall, in consultation with the Executive, modify the Agreement in the least restrictive manner necessary
in order to exclude such compensation from the definition of &ldquo;deferred compensation&rdquo; within the meaning of Section&nbsp;409A
of the Code or in order to comply with the provisions of Section&nbsp;409A of the Code, other applicable provision(s) of the Code and/or
any rules, regulations, or other regulatory guidance issued under such statutory provisions and without any diminution in the value of
the payments to the Executive. Any payments that, under the terms of this Agreement, qualify for the &ldquo;short-term&rdquo; deferral
exception under Treasury Regulations &sect;&nbsp;1.409A-1(b)(4), the &ldquo;separation pay&rdquo; exception under Treasury Regulations
&sect;&nbsp;1.409A-1(b)(9)(iii), or any other exception under Section&nbsp;409A of the Code will be paid under the applicable exceptions
to the greatest extent possible. Each payment under this Agreement shall be treated as a separate payment for purposes of Section&nbsp;409A
of the Code. Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive&rsquo;s separation from service
within the meaning of Section&nbsp;409A of the Code, the Executive is considered a &ldquo;specified
employee&rdquo; within the meaning of Section&nbsp;409A(a)(2)(B)(i) of the Code, and if any payment that the Executive becomes entitled
to under this Agreement is considered deferred compensation subject to interest, penalties, and additional tax imposed pursuant to Section&nbsp;409A
of the Code as a result of the application of Section&nbsp;409A(a)(2)(B)(i) of the Code, then no such payment shall be payable prior to
the date that is the earlier of (i)&nbsp;six months and one day following the Executive&rsquo;s separation from service (&nbsp;<U>provided&nbsp;</U>that
any accrued installments that would otherwise be payable during that six-month period are paid at the end of such period) or (ii)&nbsp;the
Executive&rsquo;s death. In no event shall the Date of Termination be deemed to occur until the Executive experiences a &ldquo;separation
from service&rdquo; within the meaning of Section&nbsp;409A of the Code, and notwithstanding anything contained herein to the contrary,
the date on which such separation from service takes place shall be the Date of Termination. All reimbursements provided under this Agreement
shall be provided in accordance with the requirements of Section&nbsp;409A of the Code, including, where applicable, the requirement that
(A)&nbsp;the amount of expenses eligible for reimbursement during one calendar year will not affect the amount of expenses eligible for
reimbursement in any other calendar year; (B)&nbsp;the reimbursement of an eligible expense will be made no later than the last day of
the calendar year following the calendar year in which the expense is incurred; and (C)&nbsp;the right to any reimbursement will not be
subject to liquidation or exchange for another benefit. Notwithstanding the foregoing, the Company makes no representation or covenant
to ensure that the payments and benefits under this Agreement are exempt from, or compliant with, Section&nbsp;409A of the Code.</P>

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


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(i)&nbsp;<U>Entire Agreement</U>.
This Agreement, together with that certain letter agreement, dated as of even date herewith, by and between the Company and the Executive,
shall constitute the entire agreement among the Company, the Bank, and the Executive with respect to the subject matter hereof, and shall
supersede any prior understandings, agreements, or representations by or between the parties, whether written or oral (including, without
limitation, the Prior Agreement).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 24.5pt">12. <U>Arbitration</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt"><U>(a) Scope; Location</U>.
Any dispute, claim or controversy arising out of, relating to, or in connection with this Agreement, including but not limited to the
breach, termination, enforcement, interpretation or validity thereof, including the determination of the scope or applicability of this
agreement to arbitrate shall be determined by arbitration in New York. Without limiting the generality of the foregoing, any dispute relating
to whether a director is a Disinterested Director, or if no director is a Disinterested Director, whether &ldquo;Cause&rdquo; exists,
shall be determined pursuant to such arbitration.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(b)&nbsp; <U>Arbitrator</U>.
Any arbitration shall be heard and decided by a single arbitrator. The arbitration shall be administered by JAMS pursuant to its Comprehensive
Arbitration Rules and Procedures, except as specifically provided in this Agreement. The arbitrator shall be jointly selected by the Company
and the Executive; except in the event that the Company and the Executive cannot agree upon the arbitrator within ten (10) business days
of a party providing written notice to the other party of its intent to arbitrate and for the parties to jointly select an arbitrator,
then JAMS shall select a single, neutral arbitrator for the parties. Any such arbitrator selected by JAMS cannot have previously performed
services for either party, with each party to promptly disclose any previously performed services upon notification of a JAMS selected
proposed arbitrator.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(c) <U>Award</U>. Any award
by the arbitrator may be entered as a judgment in any court having jurisdiction. This Section 11 shall not preclude the parties from seeking
provisional remedies in aid of arbitration from a court of appropriate jurisdiction, including for any injunction sought pursuant to Section
8(c).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(d) <U>Costs</U>. In any arbitration
in any way arising out of, related to, or pertaining to this Agreement, costs for administration by JAMS and fees for the arbitrator shall
be borne by the Company, with each party to bear its own expenses, including but not limited to the cost of any expert(s), and attorneys&rsquo;
fees. Notwithstanding the foregoing, the arbitrator may award to the prevailing party, if any, the costs and attorneys&rsquo; fees reasonably
incurred by the prevailing party in connection with the arbitration. If the arbitrator determines a party to be the prevailing party under
circumstances where the prevailing party won on some but not all of the claims and counterclaims, the arbitrator may award the prevailing
party an appropriate percentage of the costs and attorneys&rsquo; fees reasonably incurred by the prevailing party in connection with
the arbitration. Notwithstanding the provisions in Section 11, the parties agree to use their best reasonable efforts to minimize the
costs and frequency of arbitration hereunder.&nbsp;</P>

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


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(e) <U>Timelines</U>. To the
extent that any action is required to be taken under this Agreement within a specified period of time and the taking of such action is
materially affected by any matter submitted to arbitration pursuant to this Section 11, such period shall automatically be extended by
the number of days, plus ten (10) additional business days that are taken for the determination of that matter by the arbitrator.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><I>(Signature Page Follows)</I></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">IN WITNESS WHEREOF, the Executive
has hereunto set the Executive&rsquo;s hand and, pursuant to authorization from its Board of Directors, the Company has caused this Agreement
to be executed in its name on its behalf, all as of the day and year first above written.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PATRIOT NATIONAL BANCORP, INC.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt; border-bottom: black 0.75pt solid; text-align: justify">/s/ Michael
    Carrazza</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Michael Carrazza</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Board Chair</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXECUTIVE</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt; border-bottom: black 0.75pt solid; text-align: justify">/s/ William
    Paul Simmons</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">William Paul Simmons</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">[&nbsp;<I>Signature Page to Simmons Employment Agreement&nbsp;</I>]</P>

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


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<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">RESTRICTED STOCK UNIT AWARD
AGREEMENT between Patriot National Bancorp, Inc., a Connecticut corporation (the &ldquo;<U>Company</U>&rdquo;), and William Paul Simmons.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">This Restricted Stock Unit Award
Agreement (this &ldquo;<U>Award Agreement</U>&rdquo;) sets forth the terms and conditions of an award of <B>[&#9679;]</B> restricted stock
units (this &ldquo;<U>Award</U>&rdquo;) that are subject to the terms and conditions specified herein (each such restricted stock unit,
an &ldquo;<U>RSU</U>&rdquo;). This Award provides you with the opportunity to earn, subject to the terms of this Award Agreement, the
value of shares of the Company&rsquo;s Common Stock, $0.001 par value (&ldquo;<U>Share</U>&rdquo;) as set forth in Section 3 this Award
Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">THIS AWARD IS SUBJECT TO ALL
TERMS AND CONDITIONS OF THIS AWARD AGREEMENT AND, IF AND WHEN APPROVED BY THE COMPANY&rsquo;S SHAREHOLDERS, THE 2025 OMNIBUS EQUITY INCENTIVE
PLAN (THE &ldquo;PLAN&rdquo;), INCLUDING THE DISPUTE RESOLUTION PROVISIONS SET FORTH IN SECTION 10 OF THIS AWARD AGREEMENT. BY SIGNING
YOUR NAME BELOW, YOU SHALL HAVE CONFIRMED YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS OF THIS AWARD AGREEMENT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 1. <U>The Plan.</U>
Upon shareholder approval of the Company&rsquo;s 2025 Omnibus Stock Incentive Plan dated <B>[&#9679;] </B>(the &ldquo;Plan&rdquo;), the
settlement of the RSUs will be made solely in Shares and all the terms of the Plan are hereby incorporated in this Award Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 2. <U>Definitions.</U>
Capitalized terms used in this Award Agreement that are not defined in this Award Agreement have the meanings as used or defined in the
Employment Agreement, or if not defined in the Employment Agreement, then in the Plan. As used in this Award Agreement, the following
terms have the meanings set forth below:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&ldquo;<U>Code</U>&rdquo; means
the Internal Revenue Code of 1986, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&ldquo;<U>Employment Agreement</U>&rdquo;
means any individual employment agreement between you and the Company or any of its Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 3. <U>Vesting, Restricted
Period, and Settlement</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(a) <U>Service-Based Vesting</U>.
Subject to your continued employment through each applicable vesting date, you shall vest in the RSUs subject to this Award Agreement
in three (3) equal annual installments during the three-year period following the date on which the RSUs are granted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(b) <U>Change of Control</U>.
In the event of a Change of Control, there shall be no change in the terms of the outstanding RSUs including with respect to vesting,
the restricted period, or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(c) <U>Termination of Employment</U>.
In the event of the termination of your employment, there shall be no change in the terms of the outstanding RSUs including with respect
to vesting, the restricted period, or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(d) <U>Reserved</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(e) <U>Settlement of RSU Award.</U>
As soon as practicable, but no later than ten (10) business days, following the date on which the RSUs restricted period ends, the Company
shall deliver to you or your legal representative the following:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(i) to the extent the Plan has
not been approved by its shareholders, cash equal to one Share for each RSU that has vested in accordance with the terms of this Award
Agreement (no Share settlement option); or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(ii) to the extent the Plan
has been approved by its shareholders, one Share for each RSU that vested in accordance with the terms of this Award Agreement (no cash
settlement option).</P>

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


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 4. <U>Forfeiture of
RSUs.</U> Notwithstanding anything to the contrary herein and without limiting any rights and remedies available to the Company, in the
event your role as an employee, officer and director of the Company are all terminated, the Company may cause your rights with respect
to unvested RSUs to immediately terminate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 5. <U>No Rights as a
Stockholder.</U> You shall not have any rights or privileges of a stockholder with respect to the RSUs subject to this Award Agreement
unless and until certificates representing Shares are actually issued and delivered to you or your legal representative in settlement
of this Award.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 6. <U>Non-Transferability
of RSUs.</U> Unless otherwise provided by the Committee in its discretion, RSUs may not be sold, assigned, alienated, transferred, pledged,
attached or otherwise encumbered except as provided in Section 9(a) of the Plan. Any purported sale, assignment, alienation, transfer,
pledge, attachment or other encumbrance of RSUs in violation of the provisions of this Section 6 and Section 9(a) of the Plan shall be
void.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 7. <U>Withholding, Consents
and Legends.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(a) <U>Withholding.</U> The
delivery of Shares pursuant to Section 3 of this Award Agreement is conditioned on satisfaction of any applicable withholding taxes in
accordance with this Section 7(a) and Section 9(d) of the Plan. No later than the date as of which an amount first becomes includible
in your gross income for Federal, state, local or foreign income tax purposes with respect to any RSUs, you shall pay to the Company,
or make arrangements satisfactory to the Company regarding the payment of, any Federal, state, local and foreign taxes that are required
by applicable laws and regulations to be withheld with respect to such amount. In the event that there is withholding tax liability in
connection with the settlement of the RSUs, if authorized by the Committee in its sole discretion, you may satisfy, in whole or in part,
any withholding tax liability by having the Company withhold from the number of Shares you would be entitled to receive upon settlement
of the RSUs, the number of Shares having a Fair Market Value (which shall either have the meaning set forth in the Plan or shall have
such other meaning as determined by the Company in accordance with applicable withholding requirements) equal to the minimum withholding
tax liability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(b) <U>Consents.</U> Your rights
in respect of the RSUs are conditioned on the receipt to the full satisfaction of the Committee of any required consents that the Committee
may determine to be necessary or advisable (including your consent to the Company&rsquo;s supplying to any third-party recordkeeper of
the Plan such personal information as the Committee deems advisable to administer the Plan).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(c) <U>Legends.</U> The Company
may affix to certificates for Shares issued pursuant to this Award Agreement any legend that the Committee determines to be necessary
or advisable (including to reflect any restrictions to which you may be subject under any applicable securities laws). The Company may
advise the transfer agent to place a stop order against any legended Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 8. <U>Successors and
Assigns of the Company.</U> The terms and conditions of this Award Agreement shall be binding upon and shall inure to the benefit of the
Company and its successors and assigns.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 9. <U>Committee Discretion.</U>
The Compensation Committee of the Board shall have full and plenary discretion with respect to any actions to be taken or determinations
to be made in connection with this Award Agreement, and its determinations shall be final, binding and conclusive.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 10. <U>Dispute Resolution.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(a) <U>Jurisdiction and Venue.</U>
Notwithstanding any provision in your Employment Agreement, you and the Company irrevocably submit to the exclusive jurisdiction of (i)
the United States District Court for the Southern District of New York and (ii) the courts of the State of New York for the purposes of
any suit, action or other proceeding arising out of this Award Agreement or the Plan. You and the Company agree to commence any such action,
suit or proceeding either in the United States District Court for the Southern District of New York or, if such suit, action or other
proceeding may not be brought in such court for jurisdictional reasons, in the courts of the State of New York. You and the Company further
agree that service of any process, summons, notice or document by U.S. registered mail to the other party&rsquo;s address set forth below
shall be effective service of process for any action, suit or proceeding in New York with respect to any matters to which you have submitted
to jurisdiction in this Section 10(a). You and the Company irrevocably and unconditionally
waive any objection to the laying of venue of any action, suit or proceeding arising out of this Award Agreement or the Plan in (A) the
United States District Court for the Southern District of New York or (B) the courts of the State of New York, and hereby and thereby
further irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such action, suit or proceeding
brought in any such court has been brought in an inconvenient forum.</P>

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


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(b) <U>Waiver of Jury Trial.</U>
You and the Company hereby waive, to the fullest extent permitted by applicable law, any right either of you may have to a trial by jury
in respect to any litigation directly or indirectly arising out of, under or in connection with this Award Agreement or the Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(c) <U>Confidentiality.</U>
You hereby agree to keep confidential the existence of, and any information concerning, a dispute described in this Section 10, except
that you may disclose information concerning such dispute to the court that is considering such dispute or to your legal counsel (provided
that such counsel agrees not to disclose any such information other than as necessary to the prosecution or defense of the dispute).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 11. <U>Notice.</U> All
notices, requests, demands and other communications required or permitted to be given under the terms of this Award Agreement shall be
in writing and shall be deemed to have been duly given when delivered by hand or overnight courier or three business days after they have
been mailed by U.S. certified or registered mail, return receipt requested, postage prepaid, addressed to the other party as set forth
below:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If to the Company:</FONT></TD>
    <TD STYLE="width: 64%; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&nbsp;&nbsp;]</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">If to you:</P></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48.95pt">To your address as most recently supplied to the Company and
    set forth in the Company&rsquo;s records</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">The parties may change the address
to which notices under this Award Agreement shall be sent by providing written notice to the other in the manner specified above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 12. <U>Governing Law.</U>
This Award Agreement shall be deemed to be made in the State of Delaware, and the validity, construction and effect of this Award Agreement
in all respects shall be determined in accordance with the laws of the State of Delaware, without giving effect to the conflict of law
principles thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 13. <U>Headings and
Construction.</U> Headings are given to the Sections and subsections of this Award Agreement solely as a convenience to facilitate reference.
Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Award Agreement or any
provision thereof. Whenever the words &ldquo;include&rdquo;, &ldquo;includes&rdquo; or &ldquo;including&rdquo; are used in this Award
Agreement, they shall be deemed to be followed by the words &ldquo;but not limited to&rdquo;. The term &ldquo;or&rdquo; is not exclusive.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 14. <U>Amendment
of this Award Agreement.</U> The Committee may waive any conditions or rights under, amend any terms of, or alter, suspend,
discontinue, cancel or terminate this Award Agreement prospectively or retroactively; <U>provided</U>, <U>however</U>, that, except
as set forth in Section 15(d) of this Award Agreement, any such waiver, amendment, alteration, suspension, discontinuance,
cancelation or termination that would materially and adversely impair your rights under this Award Agreement shall not to that
extent be effective without your consent (it being understood, notwithstanding the foregoing
proviso, that this Award Agreement and the RSUs shall be subject to the provisions of Section 7(c) of the Plan).</P>


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 15. <U>Section 409A.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(a) It is intended that the
provisions of this Award Agreement comply with Section 409A, and all provisions of this Award Agreement shall be construed and interpreted
in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(b) Neither you nor any of your
creditors or beneficiaries shall have the right to subject any deferred compensation (within the meaning of Section 409A) payable under
this Award Agreement to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except
as permitted under Section 409A, any deferred compensation (within the meaning of Section 409A) payable to you or for your benefit under
this Award Agreement may not be reduced by, or offset against, any amount owing by you to the Company or any of its Affiliates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(c) If, at the time of your
separation from service (within the meaning of Section 409A), (i) you shall be a specified employee (within the meaning of Section 409A
and using the identification methodology selected by the Company from time to time) and (ii) the Company shall make a good faith determination
that an amount payable hereunder constitutes deferred compensation (within the meaning of Section 409A) the payment of which is required
to be delayed pursuant to the six-month delay rule set forth in Section 409A in order to avoid taxes or penalties under Section 409A,
then the Company shall not pay such amount on the otherwise scheduled payment date but shall instead pay it, without interest (except
as otherwise provided in your Employment Agreement), on the first business day after such six-month period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(d) Notwithstanding any provision
of this Award Agreement to the contrary, in light of the uncertainty with respect to the proper application of Section 409A, the Company
reserves the right to make amendments to this Award Agreement as the Company deems necessary or desirable to avoid the imposition of taxes
or penalties under Section 409A. In any case, you shall be solely responsible and liable for the satisfaction of all taxes and penalties
that may be imposed on you or for your account in connection with this Award Agreement (including any taxes and penalties under Section
409A), and neither the Company nor any of its Affiliates shall have any obligation to indemnify or otherwise hold you harmless from any
or all of such taxes or penalties.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 16. <U>Counterparts.</U>
This Award Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument. You and the Company hereby acknowledge and agree that signatures delivered by facsimile or electronic
means (including by &ldquo;pdf&rdquo;) shall be deemed effective for all purposes.</P>

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

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&#9;IN WITNESS WHEREOF, the
parties have duly executed this Award Agreement as of the date first written above.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patriot National Bancorp, Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">by</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 48.95pt">&nbsp;</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 48.95pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 48.95pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&#9;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 48.95pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.75pt; padding-left: 5.75pt; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&#9; </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 48.95pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 48.95pt">&nbsp;</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 48.95pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 48.95pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Arial, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 48.95pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"></P>

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<TYPE>EX-10.2
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<FILENAME>exh_102.htm
<DESCRIPTION>EXHIBIT 10.2
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><B>Exhibit 10.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">This EMPLOYMENT AGREEMENT
(this &ldquo;<U>Agreement</U>&rdquo;), dated as of April&nbsp;30, 2025, is entered into by and among Patriot National Bancorp, Inc., a
Connecticut corporation (the &ldquo;<U>Company</U>&rdquo;) and <B>Angie Miranda </B>(the &ldquo;<U>Executive</U>&rdquo;). The Company
and Executive are each a &ldquo;Party&rdquo; and collectively are the &ldquo;Parties&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">WHEREAS, The Executive
has served as a Consultant and Advisor to the Company to facilitate the closing of the Private Placement entered into on March 20, 2025
(the &ldquo;Private Placement&rdquo;) and to help the Bank remediate the Formal Agreement entered into on January 15, 2025 (the &ldquo;Agreement&rdquo;)
and is due reasonable compensation based on the successful completion of the Private Placement,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">WHEREAS, the Company is
the Bank Holding Company for Patriot Bank, NA (the &ldquo;Bank&rdquo;) and Executive is expected to provide services to the Bank and the
Bank will reimburse the Company reasonable market costs, consistent with all applicable regulations, for those services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">WHEREAS, the Executive
has been offered the position of Chief Risk Officer of the Company and of the Bank, subject in each case to receipt of required non-objections
from the Office of the Comptroller of the Currency (the &quot;OCC&quot;) and the Board of Governors of the Federal Reserve System (the
&quot;Federal Reserve&quot;); provided, however, that until such non-objections are received, the Executive shall serve in a non-policy-making
capacity in roles mutually agreed upon by the Executive and the Company and/or the Bank, consistent with applicable regulatory limitations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">WHEREAS, the Company and
the Executive desire to enter into this Agreement as an inducement to have Executive join the Company and in order to reflect the terms
of employment agreed to by the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">NOW, THEREFORE, in consideration
of the mutual covenants and agreements set forth below, and for other good and valuable consideration, the Company and the Executive hereby
agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">1.&nbsp;<U>Effective Date</U>.
The &ldquo;<U>Effective Date</U>&rdquo; shall mean the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">2.&nbsp;<U>Employment
Period</U>. The Company hereby agrees to continue to employ the Executive, and the Executive hereby agrees to continue to serve the Company,
subject to the terms and conditions of this Agreement, for the period commencing on the Effective Date and ending on the three-year anniversary
of the Effective Date (the &ldquo;&nbsp;<U>Employment Period&nbsp;</U>&rdquo;);&nbsp;<U>provided&nbsp;</U>,&nbsp;<U>however&nbsp;</U>,
that, commencing on the second anniversary of the Effective Date, and on each anniversary of such date (such date and each annual anniversary
thereof, a &ldquo;<U>Renewal Date</U>&rdquo;), unless previously terminated, the Employment Period shall automatically be extended so
as to terminate two years from such Renewal Date, unless, prior to the Renewal Date Renewal Date, the Company shall give notice to the
Executive that the Employment Period shall not be so extended. The Employment Period shall automatically terminate upon any termination
of the Executive&rsquo;s employment with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">3.&nbsp;<U>Terms of Employment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(a)&nbsp;<U>Position
and Duties</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(i) During the Employment
Period, the Executive shall serve in such capacity as deemed mutually agreeable to the Company and the Executive, and upon meeting all
regulatory requirements, will serve as EVP, Chief Risk Officer of the Company and assume such duties and responsibilities as are customarily
assigned to such positions. Executive shall also have such other roles and responsibilities at the Company and the Bank as shall be mutually
agreeable, including service as the EVP, Chief Risk Officer and such roles and responsibilities at the Bank as shall be mutually agreeable
between the Executive and the Company (subject to necessary regulatory requirements to assume such position) during the Employment Period.
During the Employment Period, the location of Executive&rsquo;s primary work on a daily basis shall be Stamford, Connecticut or such other
mutually agreeable location. Executive will have an office in the Company&rsquo;s corporate headquarters and in such other locations,
if any, as determined by the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 79.55pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(ii) Notwithstanding
the foregoing, until the Company and the Bank receive the required non-objections from the OCC and the Federal Reserve, the Executive
shall serve in a non-policy-making role or roles at the Company and/or the Bank as mutually determined by the Executive and the Company,
consistent with applicable regulatory requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iii) During the Employment
Period, and excluding any periods of FTO (as defined below) of which the Executive avails himself under this Agreement, the Executive
shall be employed by the Company on a full-time basis and agrees to devote such time as is necessary to discharge the responsibilities
assigned to the Executive hereunder and to use the Executive&rsquo;s reasonable best efforts to perform such responsibilities faithfully
and efficiently. During the Employment Period, it shall not be a violation of this Agreement for the Executive to, either for free or
for personal compensation, (A)&nbsp;serve on corporate, civic, or charitable boards or committees, (B)&nbsp;deliver lectures, fulfill
speaking engagements, or teach at educational institutions, (C)&nbsp;manage personal investments, (D)&nbsp;attend to other business matters,
so long as such activities do not materially interfere with the performance of the Executive&rsquo;s responsibilities as an employee of
the Company in accordance with this Agreement, and (E)&nbsp;subject to his fiduciary duties as an officer and director of the Company,
serve as an officer and/or director, of the entities approved by the Board. The Company and Bank acknowledge the Executive may receive
confidential, attorney-client, and regulatory communications pursuant his role at other companies, and hereby waives any rights, claims,
or demands to such information and to the extent such information inadvertently is provided to the Company or on the Company&rsquo;s premises,
electronic devises, servers, or otherwise, the Company agrees to preserve the confidentiality of such information, not to review such
information and to allow Executive to claw back such information at Executives request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(b)&nbsp;<U>Compensation</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(i)&nbsp;<U>Base Salary</U>.
During the Employment Period, the Executive shall receive an annual base salary (&ldquo;<U>Annual Base Salary</U>&rdquo;) at a rate of
not less than $350,000.00 payable in accordance with the Company&rsquo;s normal payroll policies. The Executive&rsquo;s Annual Base Salary
shall be reviewed for increase at least annually by the Compensation Committee of the Board (the &ldquo;<U>Compensation Committee</U>&rdquo;)
pursuant to customary performance review policies. The review shall consider, among other factors, improvements to the Company&rsquo;s
profitability, regulatory standing , asset size, growth in asset size, and overall financial and operational performance. The Annual Base
Salary shall not be reduced after any increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base
Salary as so increased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(ii)&nbsp;<U>Annual Bonus</U>.
With respect to each fiscal year ending during the Employment Period, the Executive shall be eligible to receive an annual bonus (&ldquo;&nbsp;<U>Annual
Bonus&nbsp;</U>&rdquo;) in cash and/or in an award under the Company&rsquo;s 2025&nbsp;Omnibus Stock Incentive Plan (the &ldquo;&nbsp;<U>Plan&nbsp;</U>&rdquo;)
(or its successor) once approved by shareholders based on the attainment of performance objectives determined and established by the Compensation
Committee, in consultation with the Executive, with an annual target of at least 50% of the Annual Base Salary (the &ldquo;<U>Target Bonus</U>&rdquo;),
prorated for any partial year. The Board may, from time to time, provide executive one or more performance objectives (each a &ldquo;Performance
Objectives&rdquo;) tied to discretionary Performance Bonus payments based on the achievement of such Performance Objectives. The actual
Annual Bonus, which could be higher or lower than the Target Bonus and include any Performance Bonuses earned, shall be determined by
the Company in its reasonable discretion and paid in accordance with customary practice in cash or in equity awards or RSUs with respect
to shares of Company common stock (including restrictive covenants) that are substantially consistent with the terms of equity awards
granted under the Plan to employees of the Company in the ordinary course of business consistent with past practice, as determined by
the Compensation Committee in its discretion;&nbsp;<U>provided&nbsp;</U>,&nbsp;<U>however</U>, that no more than 50% of the actual Annual
Bonus for any year shall be paid in the form of equity awards or RSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iii)&nbsp;<U>Equity
Awards</U>. During the Employment Period, the Executive shall be eligible to participate in the Company&rsquo;s equity compensation plans
as may be in effect from time to time on a basis that is no less favorable than those generally applicable to other senior executives
of the Company. As an inducement to joining the Company, the Company agreed to issue to the Executive the Initial Equity Award within
ninety (90) days following the closing of the Private Placement and shall do so (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">All equity grants shall
comply with the restrictions on severance and indemnification agreements and payments to institution-affiliated parties as outlined in
the FDIC Rules and Regulations, Part 359. (See also SR letter 19-12, &ldquo;Statement Regarding Insurance
Policies for Directors and Officers,&rdquo; SR letter 03-6, &ldquo;Guidance Regarding Restrictions on Institutions in Troubled Condition,&rdquo;
and SR letter 02-17, &ldquo;Guidance Regarding Indemnification Agreements and Payments.&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 79.55pt">&nbsp;</P>


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 79.55pt">(iv) <U>Severance and
Indemnification Rights</U>. Notwithstanding any provision of this Agreement to the contrary, during any period in which the Company or
the Bank is considered to be in &ldquo;Troubled Condition&rdquo; as defined under 12 C.F.R. Part 359 and applicable regulation guidance
(including Federal Reserve SR Letter 03-6), Executive shall not be entitled to receive, and the Company shall not be obliged to pay, and
severance payments, bonuses, equity grants, indemnification payments or other compensation that would violate such rules or require prior
regulatory approval, without such approval having been obtained. . To the extent any such rights or payments are restricted or disallowed
solely due to the Company&rsquo;s or the Bank&rsquo;s status as being in Troubled Condition, such rights shall be deferred but not waived,
and the Company shall be obliged to reinstatement and payment of such deferred rights at the earliest time permitted by applicable law
and regulation, including upon receipt of required regulatory approvals,, or when the Company and the bank are no longer deemed to be
in Troubled Condition . Within thirty (30) days following the date that the Company is no longer considered to be in &ldquo;Troubled Condition&rdquo;,
the Company and Executive will update this Agreement to include severance and indemnification rights customary for similarly situated
executives at peer institutions, retroactive to the extent permitted by applicable law and regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(v) <U>Clawback</U>.
For no more than three years following the grant of any equity payments or other equity compensation, all equity payments or other equity
compensation provided to the Executive under this Agreement shall be subject to such deductions and recovery &ldquo;clawback&rdquo; as
may be required to be made pursuant to law, government regulation, order, or stock exchange listing requirement (or any narrowly tailored
policy of the Company adopted pursuant to any such law, government regulation, order, or stock exchange listing requirement) or by agreement
with, or consent of, the Executive. Any such clawback shall be implemented only to the extent necessary to comply with applicable legal
or regulatory requirements, and shall be applied in a manner that is fair and consistent with the treatment of similarly situated executives.
For the avoidance of doubt, no clawback shall apply to time vested equity or other compensation not subject to mandatory recovery requirements.
Any clawback shall be implemented only after written notice to the Executive.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 79.55pt">(vi)&nbsp;<U>Flexible Time Off</U>.
The Executive shall be entitled to take off as much time as needed or as appropriate (&ldquo;<U>FTO</U>&rdquo;), consistent with his professional
responsibilities and business needs;&nbsp;<U>provided&nbsp;</U>that the Executive is meeting his work responsibilities; and&nbsp;<U>provided</U>,&nbsp;<U>further</U>,
that he is demonstrating a level of commitment and conscientiousness that is sufficient to satisfy his professional responsibilities to
Employer. The Executive will receive his usual base salary during approved FTO unless the Executive is on an extended leave that is unpaid
pursuant to Employer&rsquo;s employee handbook or applicable law (e.g., FMLA, CFRA, or other extended leave). Because FTO is not an accrued
benefit, the Executive will not be eligible for a payout of FTO at the time of separation from Employer, regardless of the reason for
the separation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(vii)&nbsp;<U>Other Employee
Benefit Plans</U>. During the Employment Period, the Executive and/or the Executive&rsquo;s family, as the case may be, shall be eligible
for participation in all benefits under all plans, practices, policies, and programs provided by the Company on a basis that is no less
favorable than those generally applicable or made available to executives of the Company. The Executive shall be eligible for participation
in fringe benefits and perquisite plans, practices, policies, and programs (including, without limitation, expense reimbursement plans,
practices, policies, and programs, as well as retirement and supplemental executive disability and life insurance benefits) on a basis
that is no less favorable than those generally applicable or made available to executives of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(viii) <U>Assignment
and Beneficiaries</U>. Subject to the Company&rsquo;s prior written consent (not to be unreasonably withheld ) , the Executive may assign
or transfer any outstanding equity awards under this Agreement to a trust, family partnership, limited liability company, or similar estate-planning
vehicle, provided such entity is wholly controlled by the Executive and the assignment does not result in an adverse tax or legal consequence
to the Company. Any permitted transferee shall be bound by the terms and conditions of this Agreement and the underlying equity plan,
and no further transfer shall be permitted except by will or by the laws of descent and distribution unless otherwise approved by the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 79.55pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Separately, from time to time, by signing a
form furnished by the Company, the Executive may designate any legal or natural person or persons (who may be designated contingently
or successively) to whom to transfer any outstanding equity awards held by the Executive at the time of his death. If the Executive fails
to designate a beneficiary as provided above, or if the designated beneficiary dies before the Executive or before complete payment or
settlement of the outstanding equity awards, the outstanding equity awards held by the Executive shall be transferred to the Executive&rsquo;s
estate. For purposes of this Agreement, the term &ldquo;<U>designated beneficiary</U>&rdquo; means the person or persons designated by
the Executive as his beneficiary in the last effective beneficiary designation form filed with the Company, or if the Executive has failed
to designate a beneficiary, the Executive&rsquo;s estate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">4.&nbsp;<U>Termination
of Employment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(a)&nbsp;<U>Death or
Disability</U>. The Executive&rsquo;s employment shall terminate automatically upon the Executive&rsquo;s death during the Employment
Period. If the Company determines in good faith that the Disability of the Executive has occurred during the Employment Period (pursuant
to the definition of Disability set forth below), it may provide the Executive with written notice in accordance with Section&nbsp;10(b)
of its intention to terminate the Executive&rsquo;s employment. In such event, the Executive&rsquo;s employment with the Company shall
terminate effective on the 30th day after receipt of such notice by the Executive (the &ldquo;<U>Disability Effective Date</U>&rdquo;);&nbsp;<U>provided&nbsp;</U>that,
within the 30&nbsp;days after such receipt, the Executive shall not have returned to full-time performance of the Executive&rsquo;s duties.
For purposes of this Agreement, &ldquo;<U>Disability</U>&rdquo; shall mean the absence of the Executive from the Executive&rsquo;s duties
with the Company on a full-time basis for 90&nbsp;consecutive days, or a total of 180&nbsp;days in any 12-month period, as a result of
incapacity due to mental or physical illness that is determined to be total and permanent by a physician selected jointly by the Company
or its insurers and the Executive or the Executive&rsquo;s legal representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(b)&nbsp;<U>Cause</U>.
The Company may terminate the Executive&rsquo;s employment during the Employment Period either with or without Cause. For purposes of
this Agreement, &ldquo;<U>Cause</U>&rdquo; shall mean:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(i) the Executive is
convicted of, or pleads guilty or&nbsp;<I>nolo contendere&nbsp;</I>to a charge of commission of a felony involving moral turpitude or
securities or banking laws;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(ii) the Executive has
engaged in willful gross neglect or willful gross misconduct in carrying out his duties, which is reasonably expected to result in material
economic or material reputational harm to the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iii) the Executive is
subject to an action taken by a regulatory body or a self-regulatory organization that materially impairs or prevents the Executive from
performing his duties with the Company that are required under this Agreement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iv) the Executive willfully
breaches any material provision of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">For purposes of this Section&nbsp;4(b), 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 Company or at the advice of counsel. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted
by the Board, Bank Board, or upon the instructions of the Board, the Bank Board, or the lead independent director of the Board or based
upon the advice of counsel for the Company shall be conclusively determined to be done, or omitted to be done, by the Executive in good
faith and in the best interests of the Company and therefore not willful. To invoke a termination with Cause on any of the grounds enumerated
under Section&nbsp;4(b)(ii) or Section&nbsp;4(b)(iv), the following process must be followed: (1) the Board, after a duly noticed meeting
with a quorum of Disinterested Directors (as defined below) present, must approve and provide notice to the Executive of the existence
of such grounds within 30 days following the Company&rsquo;s knowledge of such grounds (the &ldquo;Cause Notice&rdquo;); (2) the Executive
shall be provided with 30 days to cure the alleged grounds (the &ldquo;Cure Period&rdquo;); (3) during the Cure Period, the Executive
shall be provided the opportunity to make an in-person and written presentation to the Disinterested Directors from whom the Cause Notice
was provided; (4) the Company shall provide all documents reasonably requested by the Executive that are related to the Cause determination
or whether the directors are Disinterested Directors and not subject to attorney-client privilege, confidentiality obligations or prohibited
from being disclosed pursuant to applicable law or legal process; (5) if, after the Cure Period and taking into account any presentation
by the Executive, the Disinterested Directors determine that Cause exists, the Disinterested Directors shall provide written notice to
the Executive immediately and describe the reasoning of their decision to terminate the Executive&rsquo;s
employment for Cause; (6) the Executive shall then have seven calendar days from receipt of such notice to provide a response to the decision
or otherwise cure the allegedly uncured breaches; and (7) the Disinterested Directors shall conduct a hearing on or after the expiration
of the period set forth in clause (6) in which the Executive shall be entitled to present his response to the conclusion of the Disinterested
Directors after which hearing and considering any response by the Executive, the Disinterested Directors shall make their final decision
on Cause. &ldquo;Disinterested Directors&rdquo; shall be the members of the Board (other than the Executive) who are not party to the
transactions giving rise to the allegation of Cause.</P>

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


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">(c)&nbsp;<U>Good Reason</U>. The Executive&rsquo;s
employment may be terminated by the Executive with Good Reason. For purposes of this Agreement, &ldquo;<U>Good Reason</U>&rdquo; shall
mean, in the absence of a written consent of the Executive, any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(i) the assignment to
the Executive of any duties materially inconsistent with the Executive&rsquo;s position, authority, duties, or responsibilities as contemplated
by Section&nbsp;3(a), any failure to continue the Executive in any of the positions contemplated by Section&nbsp;3(a), or any other action
by the Company that results in a material diminution in such positions or the Executive&rsquo;s authority, duties or responsibilities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(ii) any material breach
of any of the provisions of Section&nbsp;3(b);</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 79.55pt">(iii) any requirement by the
Company that the Executive&rsquo;s services be rendered primarily at a specific location or locations other than those identified in Section
3(a)(i); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iv) any failure by the
Company to comply with Section&nbsp;9(c).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">To invoke a termination with Good Reason, the
Executive shall provide written notice to the Company of the existence of one or more of the conditions described in clauses&nbsp;(i)
through (iv)&nbsp;within 90&nbsp;days following the Executive&rsquo;s knowledge of the initial existence of such condition or conditions
and the Company shall have 30&nbsp;days following receipt of such written notice (the &ldquo;&nbsp;<U>Cure Period&nbsp;</U>&rdquo;) during
which it may remedy the condition if such condition is reasonably subject to cure. If the Company fails to remedy the condition constituting
Good Reason during the applicable Cure Period, the Executive&rsquo;s &ldquo;separation from service&rdquo; (within the meaning of Section&nbsp;409A
of the Code), must occur, if at all, within 180&nbsp;days following such Cure Period in order for such termination as a result of such
condition to constitute a termination with Good Reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(d)&nbsp;<U>Without Good
Reason</U>. The Executive&rsquo;s employment may be terminated by the Executive without Good Reason at any time. Given the importance
of the Executive&rsquo;s position with Employer, the Executive agrees to make a good faith effort to provide the Company up to 30 days
notice or to enter into a consulting agreement to cooperate with the Company for at least 30 days following the Executive&rsquo;s departure
(the &ldquo;Cooperation Period&rdquo;) During the Cooperation Period, Employer shall continue to pay the Executive compensation equal
to Executive&rsquo;s base salary and the Executive shall be entitled to participate in Employer&rsquo;s benefit plans to the extent permitted
by such plans and applicable law. During the Cooperation Period, Employer reserves the right to (A)&nbsp;change or remove any of the Executive&rsquo;s
duties, (B)&nbsp;require the Executive to remain away from Employer&rsquo;s premises, and/or (C)&nbsp;take such other action as determined
by Employer to aid and assist in the transition process associated with the Executive&rsquo;s departure. During the Notice Period, the
Executive shall continue to act in a manner consistent with this Agreement and his duty of loyalty to Employer. Employer may waive or
terminate the Cooperation Period at any time and for any reason or for no reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(e)&nbsp;<U>Notice of
Termination</U>. Any termination by the Company with Cause, or by the Executive with or without Good Reason, shall be communicated by
Notice of Termination to the other party hereto given in accordance with Section&nbsp;10(b). For purposes of this Agreement, a &ldquo;&nbsp;<U>Notice
of Termination&nbsp;</U>&rdquo; means a written notice that (i)&nbsp;indicates the specific termination provision in this Agreement relied
upon, (ii)&nbsp;to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination
of the Executive&rsquo;s employment under the provision so indicated, and (iii)&nbsp;if the Date of Termination (as defined below) is
other than the date of receipt of such notice, specifies the termination date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(f)&nbsp;<U>Date of Termination</U>.
For purposes of this Agreement, &ldquo;&nbsp;<U>Date of Termination&nbsp;</U>&rdquo; means (i)&nbsp;if the Executive&rsquo;s employment
is terminated by the Company with Cause, or by the Executive with Good Reason, the date of receipt of the Notice of Termination or any
later date specified therein, as the case may be, (ii)&nbsp;if the Executive&rsquo;s employment is terminated by the Company without Cause,
the Date of Termination shall be the date on which the Company notifies the Executive of such termination, (iii)&nbsp;if the Executive&rsquo;s
employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the
Disability Effective Date, as the case may be, and (iv)&nbsp;if the Executive&rsquo;s employment is terminated without Good Reason, the
Date of Termination shall be the earlier of 60&nbsp;days following the Notice Date and such earlier date as designated by Employer.</P>

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


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">5.&nbsp;<U>RESERVED</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">6.&nbsp;<U>No Setoff;
No Mitigation; Legal Fees</U>. The Company&rsquo;s obligation to make the payments provided for in this Agreement and otherwise to perform
its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense, or other claim, right, or action that
the Company may have against the Executive or others. In no event shall the Executive be obligated to seek other employment or take any
other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and, such amounts
shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay as incurred, to the full extent
permitted by law, all legal fees and expenses that the Executive may reasonably incur as a result of any contest by the Company, any affiliates,
or their respective predecessors, successors, or assigns, the Executive, his estate, beneficiaries, or their respective successors and
assigns of the validity or enforceability of, or liability under, any provision of this Agreement (including as a result of any contest
by the Executive about the amount of any payment pursuant to this Agreement);&nbsp;<U>provided</U>&nbsp;that the Executive prevails on
at least one material claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">7. RESERVED</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">8. <U>Definitions</U>.
The following terms shall have the following meanings for purposes of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(i) &ldquo;<U>Common
Stock</U>&rdquo; shall mean the voting and non-voting common stock of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(ii) &ldquo;<U>Initial
Equity Award</U>&rdquo; equals the amount of Restricted Stock Units equal to 450,000 shares of the outstanding Stock of the Company as
of the date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iii) &ldquo;<U>Restricted
Stock Units</U>&rdquo; or &ldquo;RSUs&rdquo; shall mean restricted stock units in the Company granted to the Executive under the Company&rsquo;s
equity plan, each representing the right to receive one share of the Company&rsquo;s Common Stock , subject to the terms of this Agreement
and the applicable award agreement. RSUs shall vest in three (3) equal annual installments beginning on the first anniversary of this
Agreement, subject to the Executive&rsquo;s continued service through each applicable vesting date, except as otherwise provided herein.
The RSUs shall settle on the date of the expiration of the Restricted Period in the form attached as Exhibit A. They shall not be eligible
for accelerated vesting upon a Change in Control or a Termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 79.55pt">(iv) &ldquo;<U>Stock</U>&rdquo;
shall mean the Common Stock plus all equity securities eligible to be converted into Common Stock in the Company, including non-voting
common stock and preferred stock (if any).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">9.&nbsp;<U>Confidential
Information</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(a)&nbsp;<U>Confidential
Information</U>. The Executive shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential information,
knowledge, or data relating to the Company or any of its affiliated companies, and their respective businesses, which shall have been
obtained by the Executive during the Executive&rsquo;s employment with the Company or any of its affiliated companies and which shall
not be or become public knowledge (other than by acts by the Executive or representatives of the Executive in violation of this Agreement).
After termination of the Executive&rsquo;s employment with the Company, neither the Company nor the Executive shall not, without the prior
written consent of the other Party, under a confidentiality or non-disclosure agreement, or as may otherwise be required by law, regulation,
or legal process, communicate or divulge any such information, knowledge, or data to anyone other than the other Party and those designated
by it or as may be required by applicable law, court order, a regulatory body, or arbitrator or other mediator. The Company agrees that
the Executive&rsquo;s mobile number shall remain his property upon any termination for any reason.&nbsp; The Company also agrees that,
notwithstanding any other Company policy, the Executive has a right to privacy over emails on Company servers that involve communications with his attorney, financial
advisors, or his family members, as well as a right to privacy regarding such documents and communications on other Company paid devices.&nbsp;
To the extent not prohibited by law or legal process, bona fide contractual obligations and the directors&rsquo; fiduciary duties, the
Company agrees that it shall (1) notify Executive promptly of any requests, subpoenas or other attempts to access his personal information
and shall provide him an opportunity to object to such requests; (2) not directly or indirectly through a third party or otherwise attempt
to conduct electronic or physical surveillance against the Executive or his family during his employment or for one year after termination
of his employment; and (3) at all times during his employment, promptly inform the Executive of any regulatory contacts, disclosures,
inquiries, subpoenas, or requests relating to Executive or the Company.</P>

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


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 48.95pt">(b)&nbsp;<U>Remedies</U>.
The obligations of the Company to make the severance payments to the Executive under Section&nbsp;5, if any, shall be conditioned upon
and subject to the Executive&rsquo;s compliance with all of the terms of this Section&nbsp;8 and the release described in Section&nbsp;5(e)
and, accordingly, in the event that it is finally determined by a court of competent jurisdiction pursuant to the immediately following
sentence of this Section 8(c) or pursuant to Section 11 that the Executive has breached the provisions of Section 8, the obligations of
the Company to make the severance payments to the Executive under Section&nbsp;5 shall cease and the Company shall be entitled to recoupment
of any payments previously made pursuant to such Section. Notwithstanding the foregoing sentence, the Executive and Company each acknowledge
that the other Party would be irreparably injured by any violation of this Agreement, including this Section&nbsp;8, and the Executive
and Company hereby acknowledges and agrees that, in addition to any other remedies available to it for any breach or threatened breach
of this Agreement, including this Section&nbsp;8, the Executive and Company shall be entitled, without posting any bond or proof of damages,
to a preliminary or permanent injunction, restraining order, and/or other equitable or specific performance based relief, restraining
the Executive from any actual or threatened breach of this Agreement, including this Section&nbsp;8. In the event of a dispute under the
Agreement, the Company will pay all legal fees as incurred by Executive in connection with the dispute.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">10.&nbsp;<U>Successors</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(a)&nbsp;<U>Assignment;
Executive&rsquo;s Successors</U>. This Agreement is personal to the Executive and without the prior written consent of the Company shall
not be assignable by the Executive. This Agreement shall inure to the benefit of and be enforceable by the Executive&rsquo;s legal representatives,
heirs, or legatees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(b)&nbsp;<U>Company&rsquo;s
Successors</U>. This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(c)&nbsp;<U>Corporate
Transaction</U>. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise)
to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the
same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in
this Agreement, the &ldquo;<U>Company</U>&rdquo; shall mean the Company as hereinbefore defined and any successor to its business and/or
assets as aforesaid that assumes and agrees to perform this Agreement by operation of law, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">11.&nbsp;<U>Miscellaneous</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(a)&nbsp;<U>Governing
Law; Amendment</U>. This Agreement shall be governed by and construed in accordance with the laws of the State of Connecticut, without
reference to principles of conflict of laws. If, under any such law, any portion of this Agreement is at any time deemed to be in conflict
with any applicable statute, rule, regulation, or ordinance, such portion shall be deemed to be modified or altered to conform thereto.
The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended
or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(b)&nbsp;<U>Notices</U>.
All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other parties or by registered
or certified mail, return receipt requested, postage prepaid, addressed as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If&nbsp;to&nbsp;the&nbsp;Executive:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the most recent address</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on file at the Company.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If to the Company:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patriot National Bancorp, Inc.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">900 Bedford Street</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stamford, CT 06901</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention: Board of Directors</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">or to such other address as either party shall
have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually received by
the addressee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(c)&nbsp;<U>Expenses</U>.
The Company shall reimburse Executive for legal fees for this Agreement and related legal documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(d) <U>Severability</U>.
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision
of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(e)&nbsp;<U>Withholding</U>.
The Company may withhold from any amounts payable under this Agreement such federal, state, local, or foreign taxes as shall be required
to be withheld pursuant to any applicable law or regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(f)&nbsp;<U>Survival</U>.
Any provision of this Agreement that by its terms continues after the expiration of the Employment Period or the termination of the Executive&rsquo;s
employment shall survive in accordance with its terms.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(g)&nbsp;<U>Regulatory Requirements</U>.
Notwithstanding anything herein to the contrary, the compensation or benefits provided under this Agreement are subject to modification,
as necessary to comply with requirements imposed by the Board or Board of Directors of the Bank to comply with the &ldquo;Final Interagency
Guidance on Sound Incentive Compensation Policies&rdquo; issued on an interagency basis by the Federal Reserve System, the Office of the
Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Office of Thrift Supervision, effective June&nbsp;25, 2010,
or any amendment, modification, or supplement thereto, which shall be deemed to include, without limitation, any rules adopted pursuant
to Section&nbsp;956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 48.95pt">(h)&nbsp;<U>Section&nbsp;409A</U>.
If the Executive determines, in good faith, that any compensation or benefits provided by this Agreement may result in the
application of Section&nbsp;409A of the Code, the Executive shall provide written notice thereof (describing in reasonable detail
the basis therefor) to the Company, and the Company shall, in consultation with the Executive, modify the Agreement in the least
restrictive manner necessary in order to exclude such compensation from the definition of &ldquo;deferred compensation&rdquo; within
the meaning of Section&nbsp;409A of the Code or in order to comply with the provisions of Section&nbsp;409A of the Code, other
applicable provision(s) of the Code and/or any rules, regulations, or other regulatory guidance issued under such statutory
provisions and without any diminution in the value of the payments to the Executive. Any payments that, under the terms of this
Agreement, qualify for the &ldquo;short-term&rdquo; deferral exception under Treasury Regulations &sect;&nbsp;1.409A-1(b)(4), the
&ldquo;separation pay&rdquo; exception under Treasury Regulations &sect;&nbsp;1.409A-1(b)(9)(iii), or any other exception under
Section&nbsp;409A of the Code will be paid under the applicable exceptions to the greatest extent possible. Each payment under this
Agreement shall be treated as a separate payment for purposes of Section&nbsp;409A of the Code. Anything in this Agreement to the
contrary notwithstanding, if at the time of the Executive&rsquo;s separation from service within the meaning of Section&nbsp;409A of
the Code, the Executive is considered a &ldquo;specified employee&rdquo; within the meaning of Section&nbsp;409A(a)(2)(B)(i) of the
Code, and if any payment that the Executive becomes entitled to under this Agreement is considered deferred compensation subject to
interest, penalties, and additional tax imposed pursuant to Section&nbsp;409A of the Code as a result of the application of
Section&nbsp;409A(a)(2)(B)(i) of the Code, then no such payment shall be payable prior to the date that is the earlier of
(i)&nbsp;six months and one day following the Executive&rsquo;s separation from service (&nbsp;<U>provided&nbsp;</U>that any accrued
installments that would otherwise be payable during that six-month period are paid at the end of such period) or (ii)&nbsp;the
Executive&rsquo;s death. In no event shall the Date of Termination be deemed to occur until the Executive experiences a
&ldquo;separation from service&rdquo; within the meaning of Section&nbsp;409A of the Code, and notwithstanding anything contained
herein to the contrary, the date on which such separation from service takes place shall be the Date of Termination. All
reimbursements provided under this Agreement shall be provided in accordance with the requirements of Section&nbsp;409A of the Code,
including, where applicable, the requirement that (A)&nbsp;the amount of expenses eligible for reimbursement during one calendar
year will not affect the amount of expenses eligible for reimbursement in any other calendar year; (B)&nbsp;the reimbursement
of an eligible expense will be made no later than the last day of the calendar year following the calendar year in which the expense is
incurred; and (C)&nbsp;the right to any reimbursement will not be subject to liquidation or exchange for another benefit. Notwithstanding
the foregoing, the Company makes no representation or covenant to ensure that the payments and benefits under this Agreement are exempt
from, or compliant with, Section&nbsp;409A of the Code.</P>

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


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify"></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(i)&nbsp;<U>Entire Agreement</U>.
This Agreement, together with that certain letter agreement, dated as of even date herewith, by and between the Company and the Executive,
shall constitute the entire agreement among the Company, the Bank, and the Executive with respect to the subject matter hereof, and shall
supersede any prior understandings, agreements, or representations by or between the parties, whether written or oral (including, without
limitation, the Prior Agreement).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt">12. <U>Arbitration</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt"><U>(a) Scope; Location</U>.
Any dispute, claim or controversy arising out of, relating to, or in connection with this Agreement, including but not limited to the
breach, termination, enforcement, interpretation or validity thereof, including the determination of the scope or applicability of this
agreement to arbitrate shall be determined by arbitration in New York. Without limiting the generality of the foregoing, any dispute relating
to whether a director is a Disinterested Director, or if no director is a Disinterested Director, whether &ldquo;Cause&rdquo; exists,
shall be determined pursuant to such arbitration.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(b)&nbsp; <U>Arbitrator</U>.
Any arbitration shall be heard and decided by a single arbitrator. The arbitration shall be administered by JAMS pursuant to its Comprehensive
Arbitration Rules and Procedures, except as specifically provided in this Agreement. The arbitrator shall be jointly selected by the Company
and the Executive; except in the event that the Company and the Executive cannot agree upon the arbitrator within ten (10) business days
of a party providing written notice to the other party of its intent to arbitrate and for the parties to jointly select an arbitrator,
then JAMS shall select a single, neutral arbitrator for the parties. Any such arbitrator selected by JAMS cannot have previously performed
services for either party, with each party to promptly disclose any previously performed services upon notification of a JAMS selected
proposed arbitrator.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(c) <U>Award</U>. Any award
by the arbitrator may be entered as a judgment in any court having jurisdiction. This Section 11 shall not preclude the parties from seeking
provisional remedies in aid of arbitration from a court of appropriate jurisdiction, including for any injunction sought pursuant to Section
8(c).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(d) <U>Costs</U>. In any arbitration
in any way arising out of, related to, or pertaining to this Agreement, costs for administration by JAMS and fees for the arbitrator shall
be borne by the Company, with each party to bear its own expenses, including but not limited to the cost of any expert(s), and attorneys&rsquo;
fees. Notwithstanding the foregoing, the arbitrator may award to the prevailing party, if any, the costs and attorneys&rsquo; fees reasonably
incurred by the prevailing party in connection with the arbitration. If the arbitrator determines a party to be the prevailing party under
circumstances where the prevailing party won on some but not all of the claims and counterclaims, the arbitrator may award the prevailing
party an appropriate percentage of the costs and attorneys&rsquo; fees reasonably incurred by the prevailing party in connection with
the arbitration. Notwithstanding the provisions in Section 11, the parties agree to use their best reasonable efforts to minimize the
costs and frequency of arbitration hereunder.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(e) <U>Timelines</U>. To the
extent that any action is required to be taken under this Agreement within a specified period of time and the taking of such action is
materially affected by any matter submitted to arbitration pursuant to this Section 11, such period shall automatically be extended by
the number of days, plus ten (10) additional business days that are taken for the determination of that matter by the arbitrator.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><I>(Signature Page Follows)</I></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>




<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"></P>

<!-- Field: Page; Sequence: 9 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">IN WITNESS WHEREOF, the Executive
has hereunto set the Executive&rsquo;s hand and, pursuant to authorization from its Board of Directors, the Company has caused this Agreement
to be executed in its name on its behalf, all as of the day and year first above written.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
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    <TD STYLE="width: 47%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PATRIOT NATIONAL BANCORP, INC.</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt; border-bottom: black 0.75pt solid; text-align: justify">/s/ Michael
    Carrazza</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Michael Carrazza</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Board Chair</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXECUTIVE</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 1pt; border-bottom: black 0.75pt solid; text-align: justify">/s/ Angie
    Miranda</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Angie Miranda</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">[&nbsp;<I>Signature Page to Miranda Employment Agreement&nbsp;</I>]</P>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">RESTRICTED STOCK UNIT AWARD
AGREEMENT between Patriot National Bancorp, Inc., a Connecticut corporation (the &ldquo;<U>Company</U>&rdquo;), and Angie Miranda.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">This Restricted Stock Unit Award
Agreement (this &ldquo;<U>Award Agreement</U>&rdquo;) sets forth the terms and conditions of an award of <B>[&#9679;]</B> restricted stock
units (this &ldquo;<U>Award</U>&rdquo;) that are subject to the terms and conditions specified herein (each such restricted stock unit,
an &ldquo;<U>RSU</U>&rdquo;). This Award provides you with the opportunity to earn, subject to the terms of this Award Agreement, the
value of shares of the Company&rsquo;s Common Stock, $0.001 par value (&ldquo;<U>Share</U>&rdquo;) as set forth in Section 3 this Award
Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">THIS AWARD IS SUBJECT TO ALL
TERMS AND CONDITIONS OF THIS AWARD AGREEMENT AND, IF AND WHEN APPROVED BY THE COMPANY&rsquo;S SHAREHOLDERS, THE 2025 OMNIBUS EQUITY INCENTIVE
PLAN (THE &ldquo;PLAN&rdquo;), INCLUDING THE DISPUTE RESOLUTION PROVISIONS SET FORTH IN SECTION 10 OF THIS AWARD AGREEMENT. BY SIGNING
YOUR NAME BELOW, YOU SHALL HAVE CONFIRMED YOUR ACCEPTANCE OF THE TERMS AND CONDITIONS OF THIS AWARD AGREEMENT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 1. <U>The Plan.</U>
Upon shareholder approval of the Company&rsquo;s 2025 Omnibus Stock Incentive Plan dated <B>[&#9679;] </B>(the &ldquo;Plan&rdquo;), the
settlement of the RSUs will be made solely in Shares and all the terms of the Plan are hereby incorporated in this Award Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 2. <U>Definitions.</U>
Capitalized terms used in this Award Agreement that are not defined in this Award Agreement have the meanings as used or defined in the
Employment Agreement, or if not defined in the Employment Agreement, then in the Plan. As used in this Award Agreement, the following
terms have the meanings set forth below:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&ldquo;<U>Code</U>&rdquo; means
the Internal Revenue Code of 1986, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&ldquo;<U>Employment Agreement</U>&rdquo;
means any individual employment agreement between you and the Company or any of its Subsidiaries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 3. <U>Vesting, Restricted
Period, and Settlement</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(a) <U>Service-Based Vesting</U>.
Subject to your continued employment through each applicable vesting date, you shall vest in the RSUs subject to this Award Agreement
in three (3) equal annual installments during the three-year period following the date on which the RSUs are granted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(b) <U>Change of Control</U>.
In the event of a Change of Control, there shall be no change in the terms of the outstanding RSUs including with respect to vesting,
the restricted period, or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(c) <U>Termination of Employment</U>.
In the event of the termination of your employment, there shall be no change in the terms of the outstanding RSUs including with respect
to vesting, the restricted period, or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(d) <U>Reserved</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(e) <U>Settlement of RSU Award.</U>
As soon as practicable, but no later than ten (10) business days, following the date on which the RSUs are vested, the Company shall deliver
to you or your legal representative the following:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(i) to the extent the Plan has
not been approved by its shareholders, cash equal to one Share for each RSU that has vested in accordance with the terms of this Award
Agreement (no Share settlement option); or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(ii) to the extent the Plan
has been approved by its shareholders, one Share for each RSU that vested in accordance with the terms of this Award Agreement (no cash
settlement option).</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 4. <U>Forfeiture of
RSUs.</U> Notwithstanding anything to the contrary herein and without limiting any rights and remedies available to the Company, in the
event your role as an employee, officer and director of the Company are all terminated, the Company may cause your rights with respect
to unvested RSUs to immediately terminate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 5. <U>No Rights as a
Stockholder.</U> You shall not have any rights or privileges of a stockholder with respect to the RSUs subject to this Award Agreement
unless and until certificates representing Shares are actually issued and delivered to you or your legal representative in settlement
of this Award.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 6. <U>Non-Transferability
of RSUs.</U> Unless otherwise provided by the Committee in its discretion, RSUs may not be sold, assigned, alienated, transferred, pledged,
attached or otherwise encumbered except as provided in Section 9(a) of the Plan. Any purported sale, assignment, alienation, transfer,
pledge, attachment or other encumbrance of RSUs in violation of the provisions of this Section 6 and Section 9(a) of the Plan shall be
void.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 7. <U>Withholding, Consents
and Legends.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(a) <U>Withholding.</U> The
delivery of Shares pursuant to Section 3 of this Award Agreement is conditioned on satisfaction of any applicable withholding taxes in
accordance with this Section 7(a) and Section 9(d) of the Plan. No later than the date as of which an amount first becomes includible
in your gross income for Federal, state, local or foreign income tax purposes with respect to any RSUs, you shall pay to the Company,
or make arrangements satisfactory to the Company regarding the payment of, any Federal, state, local and foreign taxes that are required
by applicable laws and regulations to be withheld with respect to such amount. In the event that there is withholding tax liability in
connection with the settlement of the RSUs, if authorized by the Committee in its sole discretion, you may satisfy, in whole or in part,
any withholding tax liability by having the Company withhold from the number of Shares you would be entitled to receive upon settlement
of the RSUs, the number of Shares having a Fair Market Value (which shall either have the meaning set forth in the Plan or shall have
such other meaning as determined by the Company in accordance with applicable withholding requirements) equal to the minimum withholding
tax liability.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(b) <U>Consents.</U> Your rights
in respect of the RSUs are conditioned on the receipt to the full satisfaction of the Committee of any required consents that the Committee
may determine to be necessary or advisable (including your consent to the Company&rsquo;s supplying to any third-party recordkeeper of
the Plan such personal information as the Committee deems advisable to administer the Plan).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(c) <U>Legends.</U> The Company
may affix to certificates for Shares issued pursuant to this Award Agreement any legend that the Committee determines to be necessary
or advisable (including to reflect any restrictions to which you may be subject under any applicable securities laws). The Company may
advise the transfer agent to place a stop order against any legended Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 8. <U>Successors and
Assigns of the Company.</U> The terms and conditions of this Award Agreement shall be binding upon and shall inure to the benefit of the
Company and its successors and assigns.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 9. <U>Committee Discretion.</U>
The Compensation Committee of the Board shall have full and plenary discretion with respect to any actions to be taken or determinations
to be made in connection with this Award Agreement, and its determinations shall be final, binding and conclusive.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 10. <U>Dispute Resolution.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(a) <U>Jurisdiction and Venue.</U>
Notwithstanding any provision in your Employment Agreement, you and the Company irrevocably submit to the exclusive jurisdiction of (i)
the United States District Court for the Southern District of New York and (ii) the courts of the State of New York for the purposes of
any suit, action or other proceeding arising out of this Award Agreement or the Plan. You and the Company agree to commence any such action,
suit or proceeding either in the United States District Court for the Southern District of New York or, if such suit, action or other
proceeding may not be brought in such court for jurisdictional reasons, in the courts of the State of New York. You and the Company further
agree that service of any process, summons, notice or document by U.S. registered mail to the other party&rsquo;s address set forth below
shall be effective service of process for any action, suit or proceeding in New York with respect to any matters to which you have submitted
to jurisdiction in this Section 10(a). You and the Company irrevocably and unconditionally
waive any objection to the laying of venue of any action, suit or proceeding arising out of this Award Agreement or the Plan in (A) the
United States District Court for the Southern District of New York or (B) the courts of the State of New York, and hereby and thereby
further irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such action, suit or proceeding
brought in any such court has been brought in an inconvenient forum.</P>

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


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(b) <U>Waiver of Jury Trial.</U>
You and the Company hereby waive, to the fullest extent permitted by applicable law, any right either of you may have to a trial by jury
in respect to any litigation directly or indirectly arising out of, under or in connection with this Award Agreement or the Plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(c) <U>Confidentiality.</U>
You hereby agree to keep confidential the existence of, and any information concerning, a dispute described in this Section 10, except
that you may disclose information concerning such dispute to the court that is considering such dispute or to your legal counsel (provided
that such counsel agrees not to disclose any such information other than as necessary to the prosecution or defense of the dispute).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 11. <U>Notice.</U> All
notices, requests, demands and other communications required or permitted to be given under the terms of this Award Agreement shall be
in writing and shall be deemed to have been duly given when delivered by hand or overnight courier or three business days after they have
been mailed by U.S. certified or registered mail, return receipt requested, postage prepaid, addressed to the other party as set forth
below:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If to the Company:</FONT></TD>
    <TD STYLE="width: 64%; font: 12pt Arial, Helvetica, Sans-Serif; text-align: justify; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&nbsp;&nbsp;]</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">If to you:</P></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48.95pt">To your address as most recently supplied to the Company and
    set forth in the Company&rsquo;s records</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">The parties may change the address
to which notices under this Award Agreement shall be sent by providing written notice to the other in the manner specified above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 12. <U>Governing Law.</U>
This Award Agreement shall be deemed to be made in the State of Delaware, and the validity, construction and effect of this Award Agreement
in all respects shall be determined in accordance with the laws of the State of Delaware, without giving effect to the conflict of law
principles thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 13. <U>Headings and
Construction.</U> Headings are given to the Sections and subsections of this Award Agreement solely as a convenience to facilitate reference.
Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Award Agreement or any
provision thereof. Whenever the words &ldquo;include&rdquo;, &ldquo;includes&rdquo; or &ldquo;including&rdquo; are used in this Award
Agreement, they shall be deemed to be followed by the words &ldquo;but not limited to&rdquo;. The term &ldquo;or&rdquo; is not exclusive.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 14. <U>Amendment
of this Award Agreement.</U> The Committee may waive any conditions or rights under, amend any terms of, or alter, suspend,
discontinue, cancel or terminate this Award Agreement prospectively or retroactively; <U>provided</U>, <U>however</U>, that, except
as set forth in Section 15(d) of this Award Agreement, any such waiver, amendment, alteration, suspension, discontinuance,
cancelation or termination that would materially and adversely impair your rights under this Award Agreement shall not to that
extent be effective without your consent (it being understood, notwithstanding the foregoing
proviso, that this Award Agreement and the RSUs shall be subject to the provisions of Section 7(c) of the Plan).</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 15. <U>Section 409A.</U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(a) It is intended that the
provisions of this Award Agreement comply with Section 409A, and all provisions of this Award Agreement shall be construed and interpreted
in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(b) Neither you nor any of your
creditors or beneficiaries shall have the right to subject any deferred compensation (within the meaning of Section 409A) payable under
this Award Agreement to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except
as permitted under Section 409A, any deferred compensation (within the meaning of Section 409A) payable to you or for your benefit under
this Award Agreement may not be reduced by, or offset against, any amount owing by you to the Company or any of its Affiliates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(c) If, at the time of your
separation from service (within the meaning of Section 409A), (i) you shall be a specified employee (within the meaning of Section 409A
and using the identification methodology selected by the Company from time to time) and (ii) the Company shall make a good faith determination
that an amount payable hereunder constitutes deferred compensation (within the meaning of Section 409A) the payment of which is required
to be delayed pursuant to the six-month delay rule set forth in Section 409A in order to avoid taxes or penalties under Section 409A,
then the Company shall not pay such amount on the otherwise scheduled payment date but shall instead pay it, without interest (except
as otherwise provided in your Employment Agreement), on the first business day after such six-month period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">(d) Notwithstanding any provision
of this Award Agreement to the contrary, in light of the uncertainty with respect to the proper application of Section 409A, the Company
reserves the right to make amendments to this Award Agreement as the Company deems necessary or desirable to avoid the imposition of taxes
or penalties under Section 409A. In any case, you shall be solely responsible and liable for the satisfaction of all taxes and penalties
that may be imposed on you or for your account in connection with this Award Agreement (including any taxes and penalties under Section
409A), and neither the Company nor any of its Affiliates shall have any obligation to indemnify or otherwise hold you harmless from any
or all of such taxes or penalties.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">SECTION 16. <U>Counterparts.</U>
This Award Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument. You and the Company hereby acknowledge and agree that signatures delivered by facsimile or electronic
means (including by &ldquo;pdf&rdquo;) shall be deemed effective for all purposes.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.95pt">&#9;IN WITNESS WHEREOF, the
parties have duly executed this Award Agreement as of the date first written above.</P>

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<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
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<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252" /><meta name="GENERATOR" content="MSHTML 8.00.7601.18094" /></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><font style="font-size: 14pt;"><strong>Patriot Bank Expands Its Board and Senior Leadership Team</strong></font></p><p style="text-align: center;"><strong></strong></p><p>
 <ul><li>Richard Smith, Jeff Seabold and Thedora Nickel elected Directors.</li><li>Paul Simmons appointed EVP, Chief Credit Officer</li><li>Nicole L. Wells appointed SVP, Head of Operations</li><li>Rebecca Mais appointed SVP, High Net Worth and Specialty Deposits</li><li>Raquel Gillett appointed SVP, Digital Transformation and Risk Analytics<br /></li></ul>  <p>STAMFORD, Conn., May  19, 2025  (GLOBE NEWSWIRE) -- Patriot Bank, N.A. (&#8220;Patriot Bank&#8221;), the wholly owned subsidiary of Patriot National Bancorp, Inc. (NASDAQ: PNBK), is pleased to announce the election of Richard Smith, Jeffrey Seabold and Thedora Nickel to serve on the Patriot Bank&#8217;s Board of Directors and the appointment of the following leaders to the management team:</p>  <ul><li>Paul Simmons as Executive Vice President, Chief Credit Officer</li><li>Nicole L. Wells as Senior Vice President,&#160;Head of Operations</li><li>Rebecca Mais as Senior Vice President, High Net Worth and Specialty Deposits</li><li>Raquel Gillett as Senior Vice President, Digital Automation and Risk Analytics</li></ul>  <p align="justify">These appointments strengthen Patriot Bank&#8217;s leadership team as the organization focuses on delivering exceptional banking services to high-net-worth clients and the fiduciaries who serve them.</p>  <p align="justify">&#8220;We are delighted to welcome Richard, Jeff, Teddy, Paul, Nicole, Rebecca, and Raquel to their new roles,&#8221; said Steven Sugarman, Chief Executive Officer of Patriot Bank. &#8220;Their collective expertise and vision will advance Patriot&#8217;s mission to empower our clients while delivering exceptional value to our shareholders.&#8221;</p>  <p align="justify"><strong>Richard Smith, Director</strong></p>  <p align="justify">Richard Smith brings 40 years of banking expertise, specializing in private banking for high-net-worth individuals. Beginning his career as a banking analyst with Manufacturers Hanover in New York, he later held senior roles at Imperial Bank and Comerica Bank in Southern California. In 2005, Smith founded The Private Bank of California and served as its President. After its sale to Banc of California in 2012, he was named President of Banc of California&#8217;s Private Banking Division. Smith serves on the Board of CalPrivate Bank, the Zimmer Children&#8217;s Museum, and the Westside Food Bank in Los Angeles.</p>  <p align="justify">&#8220;It is a privilege to join Patriot Bank&#8217;s Board of Directors,&#8221; said Smith. &#8220;Patriot Bank&#8217;s commitment to serving high net worth clients and their advisors aligns with my passion for fostering strong client relationships.&#8221;</p>  <p align="justify"><strong>Jeffrey Seabold, Director</strong></p>  <p align="justify">Jeff Seabold is an accomplished entrepreneur, investor, and executive leader with almost 30 years of experience in corporate strategy, business development, and executive management. He has a proven history in real estate finance and commercial banking.</p>  <p align="justify">Mr. Seabold is the Co-Founder and a Director of The Change Company CDFI LLC and Change Lending LLC, a certified Community Development Financial Institution (CDFI) focused on home lending. Previously, Mr. Seabold was the Co-Founder and Executive Vice Chairman of Banc of California, Inc., a publicly traded bank holding company and federally chartered national bank headquartered in Irvine, California. Seabold was also the Founder of CS Financial, Inc., a national mortgage finance company, Co-Founder for Camden Capital Partners, LLC, a bridge &amp; mezzanine real estate lender and servicer, and the Founder of Camden Escrow, Inc., a real estate settlement services provider.</p>  <p align="justify">&#8220;I&#8217;m proud to join the Board of Directors at Patriot Bank and support its mission of delivering personalized, high-quality banking solutions,&#8221; said Seabold. &#8220;Throughout my career, I have seen the value of building lasting relationships based on trust, service, and understanding. I look forward to contributing my experience to help Patriot Bank deepen its connection with clients and to build a trusted financial partner for our clients.&#8221;</p>  <p align="justify"><strong>Thedora Nickel, Director</strong></p>  <p align="justify">Thedora Nickel has over 30 years of banking leadership experience, with deep expertise in domestic and international operations, client service, and organizational transformation. She currently serves as Executive Director of The Change Company and Change Lending. Prior to this role, Nickel was Chief Administrative Officer at Banc of California where she led the strategic direction of key enterprise and operational functions. She previously held several senior leadership positions at Bank of America over a 25-year career, most recently as SVP, Group Operations Executive, overseeing national research, resolution, and reconcilement functions in support of the bank&#8217;s bank centers, capture sites, and cash vaults. Earlier, she led the Transaction Services West Region with responsibility for over two thousand employees and five processing units. A certified Six Sigma Executive, Nickel also dedicates her time mentoring MBA students at the University of California, Irvine and serves on the board of The Whole Child, a non-profit organization serving vulnerable families in Los Angeles County.</p>  <p align="justify">&#8220;I&#8217;m honored to join Patriot Bank&#8217;s Board of Directors,&#8221; said Nickel. &#8220;With my experience driving operational excellence and delivering client-focused solutions, I look forward to helping the organization build a strong foundation for sustainable growth.&#8221;</p>  <p align="justify"><strong>Paul Simmons, Executive Vice President, Chief Credit Officer</strong></p>  <p align="justify">Paul Simmons is a seasoned banking executive with over 35 years of experience in commercial lending, credit, and financial services. Prior to joining Patriot Bank, Mr. Simmons served as Executive Vice President and Chief Credit Officer of Sunwest Bank, Silvergate Bank and Banc of California. He has overseen all aspects of credit administration, asset quality, and lending operations. He also held senior leadership positions at Citigroup, GE Capital, Apollo Real Estate Advisors, and Zions Bancorporation. A graduate of Brigham Young University, Simmons is recognized for his strategic acumen and breadth of experience.</p>  <p align="justify">&#8220;I&#8217;m honored to join Patriot Bank as its Chief Credit Officer,&#8221; said Simmons. &#8220;Over my career, I have been fortunate to lead credit organizations at banks of all sizes -- always with a focus on building strong credit cultures, managing risk with discipline, and partnering with lending teams to drive smart, sustainable growth. I am excited to be a part of this high-performing executive team to bring that same approach to Patriot Bank and to contribute to Patriot Bank&#8217;s turnaround focused on serving our clients with excellence.&#8221;</p>  <p align="justify"><strong>Nicole L. Wells, Senior Vice President, Head of Operations</strong></p>  <p align="justify">With over 30 years of experience in banking and financial services, Nicole L. Wells joins Patriot Bank as its Senior Vice President and Head of Operations. She served as Head of Strategic Retail Operations at Santander Bank, N.A. in Greater Boston, a role she started in September 2020. Previously, Ms. Wells served as SVP, Private Banking Operations at Banc of California. Wells also held roles at Bank of America, Countrywide Bank, Western Federal Credit Union, and Citibank. Wells holds an M.P.A. in Public Administration with a focus on Organizational Leadership from California State University-Dominguez Hills and completed the Executive Education Program at Columbia Business School.</p>  <p align="justify">&#8220;I am delighted to join Patriot Bank and lead its bank operations,&#8221; said Wells. &#8220;My experience in driving strategic business enablement, simplification, and process excellence will support the Bank&#8217;s commitment to delivering seamless, client-focused services.&#8221;</p>  <p align="justify"><strong>Rebecca Mais, Senior Vice President, High Net Worth and Specialty Deposits</strong></p>  <p align="justify">Rebecca Mais joins Patriot Bank as its Senior Vice President, High Net Worth and Specialty Deposits. Ms. Mais, bringing over 17 years of experience, leading Private Banking and Non-Profit divisions. Previously, she held leadership roles at Banc of California, Bank of Hope and Commerce Bank, where she specialized in market expansion and developing customized deposit solutions for high-net-worth individuals, centers-of-influence, and specialized sectors, including real estate, entertainment, Institutional Banking, Non-Profits, RIA and Business Management Services. Mais is passionately committed to the families and communities we serve and is the Board Secretary of the Westside Food Bank Non-Profit. She is a highly engaged, results-driven, and client-centric leader who is recognized for her ability to drive deposit growth and foster long-term client relationships. Mais holds an Executive M.B.A. from Pepperdine University&#8217;s Graziadio School of Business and a B.S. in Business Administration/Fashion Merchandising from Philadelphia University.</p>  <p align="justify">&#8220;It&#8217;s a privilege to work with such an incredible team to deliver tailored financial solutions that meet the unique needs of our remarkable clients,&#8221; said Mais. &#8220;I look forward to building Patriot into a client-focused bank able to empower the communities we serve.&#8221;</p>  <p align="justify"><strong>Raquel Gillett, Senior Vice President, Digital Transformation and Risk Analytics</strong></p>  <p align="justify">Raquel Gillett joins Patriot Bank as its Senior Vice President of Digital Transformation and Risk Analytics, bringing over 20 years of experience in banking and financial services. Previously, she served in senior roles at The Change Company, COR Clearing, Banc of California, California National Bank, and Southern Pacific. She has led technology-driven process improvements as well as overseen financial controls. Ms. Gillett is highly experienced implementing innovative digital risk and reporting solutions, integrating systems, and optimizing reporting frameworks.</p>  <p align="justify">&#8220;I am thrilled to join Patriot Bank to lead its digital transformation, leveraging technology to empower our bankers to serve our clients safely and with operational excellence. Strengthening our risk analytics will allow Patriot to pursue our mission and vision safely and soundly,&#8221; Gillett said.</p>  <p>For more information about Patriot Bank, please visit www.bankpatriot.com.</p>  <p>Media Contact:</p>  <p>Kirsten Hoekman<br />Patriot Bank, N.A.<br />Phone: (203) 252-5905<br />Email: khoekman@bankpatriot.com </p><p /></body></html>
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