##### 








---



##### 



TABLE OF CONTENTS
 PageARTICLE IDEFINITIONS AND INTERPRETATIONSECTION 1.1.
    
    Definitions and Interpretation
    
    
    1ARTICLE IIPOWERS, DUTIES AND RIGHTS OF THE GUARANTEE TRUSTEESECTION 2.1.
    
    Powers and Duties of the Guarantee Trustee
    
    
    4SECTION 2.2.
    
    Certain Rights of the Guarantee Trustee
    
    
    5SECTION 2.3.
    
    Not Responsible for Recitals or Issuance of Guarantee
    
    
    7SECTION 2.4.
    
    Events of Default; Waiver
    
    
    7SECTION 2.5.
    
    Events of Default; Notice
    
    
    8ARTICLE IIITHE GUARANTEE TRUSTEESECTION 3.1.
    
    The Guarantee Trustee; Eligibility
    
    
    8SECTION 3.2.
    
    Appointment, Removal and Resignation of the Guarantee Trustee
    
    
    9ARTICLE IVGUARANTEESECTION 4.1.
    
    Guarantee
    
    
    9SECTION 4.2.
    
    Waiver of Notice and Demand
    
    
    10SECTION 4.3.
    
    Obligations Not Affected
    
    
    10SECTION 4.4.
    
    Rights of Holders
    
    
    11SECTION 4.5.
    
    Guarantee of Payment
    
    
    11SECTION 4.6.
    
    Subrogation
    
    
    11SECTION 4.7.
    
    Independent Obligations
    
    
    12SECTION 4.8.
    
    Enforcement
    
    
    12ARTICLE VLIMITATION OF TRANSACTIONS; SUBORDINATIONSECTION 5.1.
    
    Limitation of Transactions
    
    
    12SECTION 5.2.
    
    Ranking
    
    
    13ARTICLE VITERMINATIONSECTION 6.1.
    
    Termination
    
    
    13
 -i-




---



##### 



TABLE OF CONTENTS
 PageARTICLEINDEMNIFICATIONSECTION 7.1.
    
    Exculpation
    
    
    14SECTION 7.2.
    
    Indemnification
    
    
    14SECTION 7.3.
    
    Compensation; Reimbursement of Expenses
    
    
    15ARTICLE VIIIMISCELLANEOUSSECTION 8.1.
    
    Successors and Assigns
    
    
    16SECTION 8.2.
    
    Amendments
    
    
    16SECTION 8.3.
    
    Notices
    
    
    16SECTION 8.4.
    
    Benefit
    
    
    17SECTION 8.5.
    
    Governing Law
    
    
    17SECTION 8.6.
    
    Counterparts
    
    
    17
 -ii-




---



##### 



GUARANTEE AGREEMENT
     
 Definitions and Interpretation




---



##### 



- 2 -




---



##### 



- 3 -




---



##### 



Powers and Duties of the Guarantee Trustee
        - 4 -




---



##### 



Certain Rights of the Guarantee Trustee
     - 5 -




---



##### 



provided however
    - 6 -




---



##### 



Not Responsible for Recitals or Issuance of Guarantee
  Events of Default; Waiver
   Events of Default; Notice
 provided however
 - 7 -




---



##### 



The Guarantee Trustee; Eligibility
      Appointment, Removal and Resignation of the Guarantee Trustee
   - 8 -




---



##### 



Guarantee
   - 9 -




---



##### 



Waiver of Notice and Demand
  Obligations Not Affected
         - 10 -




---



##### 



Rights of Holders
 provided however
  Guarantee of Payment
  Subrogation
 provided however
 Independent Obligations
  - 11 -




---



##### 



Enforcement
  provided however
 
 Limitation of Transactions
 pari passu pari passu
 - 12 -




---



##### 



Ranking
   
 Termination
  
 Exculpation
   - 13 -




---



##### 



Indemnification
  provided however
 - 14 -




---



##### 



Compensation; Reimbursement of Expenses
     
 Successors and Assigns
  Amendments
  - 15 -




---



##### 



Notices
   
  
   Benefit
  Governing Law
  - 16 -




---



##### 



Counterparts
  - 17 -




---



##### 



LNB BANCORP, INC.,
as GuarantorBy:
    
    /s/ Terry M. WhiteName:
    
    Terry M. WhiteTitle:
    
    Chief Operating OfficerWELLS FARGO BANK, NATIONAL
ASSOCIATION, as Guarantee TrusteeBy:
    
    /s/ Tracy M. McLambName:
    
    Tracy M. McLambTitle:
    
    Vice President