Document:

First Amendment to Employment Agreement dated December 13, 2005

 Exhibit 10.2 
  
 FIRST AMENDMENT 
 TO 
 EMPLOYMENT AGREEMENT 
  
 Reference is made to the Employment Agreement (the “Agreement”) dated as of September 19, 2001 by and between Strata Bank, a bank chartered
under the laws of Massachusetts with its headquarters located in Medway, Massachusetts (therein and hereinafter referred to as the “Employer”), Service Bancorp, MHC, a corporation chartered under the laws of Massachusetts, and Service
Bancorp, Inc., a corporation chartered under the laws of Massachusetts (therein and hereinafter referred to as the “Holding Companies”) and Pamela J. Montpelier (therein and hereinafter referred to as the “Executive”).

  
 WHEREAS, pursuant to Section 15 of the Agreement, the
Agreement may be amended or modified by a written instrument signed by the Executive and by a duly authorized representative of the Employer; and 
  
 WHEREAS, the Executive and the Employer desire to amend the Agreement, effective January 1, 2005, to comply with the provisions of Section 409A
of the Internal Revenue Code of 1986, as amended; 
  
 NOW,
THEREFORE, for valuable consideration paid, the receipt and sufficiency of which are hereby acknowledged, the Company and the Executive hereby amend the Agreement, effective January 1, 2005, as follows: 
  

	 	1.	Section 6(e) is amended by changing the period at the end of clause (ii) of the first paragraph thereby to a semi-colon and by adding the following proviso (flush with the
margin) immediately thereafter: 

  
 “ provided
that if the Executive is then a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Internal Revenue Code of 1986, as amended (the “Code”), the aggregate amount of the first seven months of Termination
Benefits shall be payable to the Executive pursuant to this Section 6(e) beginning on the first day of the seventh month following on the date of termination of the Executive’s employment with the Employer.”. 
  

	 	2.	Section 6(g) is amended as follows: 

  

	 	(a)	By deleting the first sentence in the first (and only) paragraph of such Section and by inserting in lieu thereof the following sentence: 

  
 “If the Executive shall be Disabled, as defined in this
Section 6(g) below, the Board of Directors may remove the Executive from any responsibilities and/or reassign the Executive to another position with the Employer for the remainder of the Term or during the period of such disability.”;

	 	(b)	By deleting the following words from the third sentence in the first (and only) paragraph of such Section “disabled so as to be unable to perform the essential functions of the
Executive’s then existing position or positions with or without reasonable accommodation,” and by inserting in lieu thereof the following: 

  
 “Disabled,”; and 
  

	 	(c)	By inserting immediately after the fifth (and final) sentence of such Section the following: 

  
 “For purposes of this Section 6(g), “Disabled” shall mean that the Executive: (i) is unable to
engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months; or
(ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement
benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Employer.”. 
  

	 	3.	Section 6(h) is amended by deleting the second sentence in the first paragraph of such Section and by inserting in lieu thereof the following sentence:

  
 “If, (1) within eleven
(11) months following a Change of Control, the Executive’s employment is terminated by the Employer or the Executive following the occurrence of any of the events listed in Section 6(h)(ii) below or if the Executive’s employment
is terminated without cause (in accordance with Section 6(c) above); or (2) during the twelfth (12th) month following the Change of Control the executive chooses to resign from her employment, for any reason, in lieu of any payment
under Section 6(e) above, the Employer shall pay to the Executive (or the Executive’s estate, if applicable) a lump sum amount equal to 2.99 times the Executive’s “base amount” within the meaning of Section 280G(b)(3)
of the Code; provided that if the Executive is then a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, the lump sum amount shall be payable to the Executive on the first day of the seventh month
following the date such amount would otherwise be payable to the Executive pursuant to this Section 6(h).”. 
  

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	 	4.	Section 6 is amended by adding the following new subsection (i): 

  
 “(i) Interpretation. It is the intent of the Employer, the Holding Companies and the Executive that the provisions of this Section 6 and all
amounts payable to the Executive hereunder meet the requirements of Section 409A of the Code, to the extent applicable to this Agreement and such payment, and the Agreement shall be interpreted and construed in a manner consistent with such
intent. Recognizing such intent and the lack of official guidance currently available regarding the application of Section 409A, the Employer, the Holding Companies and the Executive agree to cooperate in good faith in preparing and executing,
at such time as sufficient guidance is available under Section 409A and from time to time thereafter, one or more amendments to this Section 6 as may reasonably be necessary solely for the purpose of assuring that this Section 6 and
all amounts payable to the Executive hereunder meet the requirements of Section 409A.”. 
  
 IN WITNESS WHEREOF, the Executive and the Employer have duly executed on this 13th day of December, 2005 and adopted this First Amendment to the
Agreement, effective as of January 1, 2005. 
  

	
	 STRATA BANK

	
	 /s/ Michael J. Sheehan

	 By: Duly Authorized Representative

	
	 EXECUTIVE

	
	 /s/ Pamela J. Montpelier

	 Pamela J. Montpelier

  

 - 3 -Form of Restricted Stock Award for Officers dated December 1, 2005

 Exhibit 10.3 
  
 The following officers of the Company received awards of the following number of shares of restricted stock of the Company
effective December 1, 2005 and subject to the terms of the attached form of Restricted Stock Award. All of the following shares were granted under the Amended and Restated 1999 Stock Option Plan except for 900 of the shares granted to Pamela
Montpelier, which were granted under the 1999 Recognition and Retention Plan. 
  

			
	 OFFICERS

	 	 SHARES

	 Pamela Montpelier
	 	4,900
	 Dana Philbrook
	 	2,000
	 Paul Carey
	 	3,000
	 Amy Costello
	 	2,000

 [OFFICER FORM] 
 SERVICE BANCORP, INC. 
 [AMENDED AND RESTATED 1999 STOCK OPTION PLAN] 
 [1999 RECOGNITION AND RETENTION PLAN] 
  
 RESTRICTED STOCK AWARD 
  
 A. A RESTRICTED STOCK AWARD for a total of
                             shares of common stock, $0.01 par value per share, of Service Bancorp,
Inc. (the “Company”) is hereby granted to
                                        
                     (the “Recipient”), subject in all respects to the terms and conditions of the Service Bancorp, Inc. [Amended and
Restated 1999 Stock Option Plan][1999 Recognition and Retention Plan] (the “Plan”), which is incorporated herein by reference. All capitalized terms in this Agreement that are not defined herein have the meanings given to them in the Plan.

  
 B. The shares of common stock awarded hereunder shall bear a
legend restricting the transferability of such common stock (hereinafter referred to as the “Restricted Stock”). The Recipient shall have the right to vote the shares represented by the certificates pending vesting therein. Pending
distribution or forfeiture, the Recipient will also receive dividends declared with respect to the shares. 
  
 C. Upon the execution of this Restricted Stock Agreement, the Recipient shall receive a certificate or certificates representing the shares of Restricted
Stock that have been awarded to the Recipient hereunder. Upon receipt of the Restricted Stock certificate representing the shares awarded hereunder, the Recipient shall execute and return to the Company a stock power or powers endorsed in blank
covering all such shares of Restricted Stock. Pursuant to the terms of the Plan, the Company shall deposit the certificate or certificates representing the Recipient’s Restricted Stock Award, together with the stock power(s), with an escrow
agent specified by the Company. 
  
 D. The Recipient shall not
sell, assign, transfer, donate, pledge, encumber or otherwise dispose of any interest in the Restricted Stock, except as hereinafter provided, until such Restricted Stock has vested. The Restricted Stock shall vest in five equal installments, with
the first installment vesting on January 1, 2006 and succeeding installments on each anniversary thereafter. 
  
 E. If the Recipient ceases to maintain Continuous Service with the Company or a Subsidiary for any reason other than death, Disability, Normal Retirement,
or following a Change of Control, all shares of Restricted Stock awarded to such Recipient that have not vested shall be forfeited by such Recipient. In the event the Recipient’s service with the Company or a Subsidiary terminates due to Normal
Retirement, death or Disability, the Restricted Stock allocated to the Recipient that as of the date of termination has not yet vested shall be deemed to vest as of the Recipient’s last day of service with the Company or a Subsidiary;
provided that Restricted Stock awarded to an employee who at any time also serves as a director shall not be deemed to vest until both employment and service as a director have been terminated. In the 

  

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event of a Change of Control, the Restricted Stock allocated to the Recipient that as of the date of termination has not yet vested shall be deemed to vest
in accordance with the terms of the Plan. 
  
 F. This Restricted
Stock Award is not an employment contract and nothing in this Restricted Stock Award shall affect in any manner whatsoever the right or power of the Company or a Subsidiary to terminate the Recipient’s employment for any reason at any time,
with or without cause and with or without notice. 
  
 G. At the
time Restricted Stock vests, the Company shall deliver to the Recipient (or if Restricted Stock is deemed to vest due to the Recipient’s death, to the Recipient’s beneficiary) shares of common stock of the Company representing the amount
earned, absent any restrictions that may have been imposed under the Plan. Upon delivery of the shares of common stock to the Recipient or beneficiary, such person shall execute and return to the Company an Acknowledgment of Receipt of Earned
Shares, in the form attached hereto. 
  
 H. The Recipient
acknowledges and agrees that the Company or a Subsidiary may be obligated to withhold federal, state and local income taxes and social security taxes to the extent that the Recipient realizes ordinary income in connection with the vesting of the
Restricted Stock or the payment of dividends on the Restricted Stock. The Recipient agrees that the Company or a Subsidiary may withhold amounts needed to cover such taxes from payments otherwise due and owing to the Recipient and also agrees that
upon demand the Recipient will promptly pay to the Company or a Subsidiary having such obligation any additional amounts as may be necessary to satisfy such withholding tax obligation. 
  
 I. A copy of the Plan governing this Restricted Stock Award is attached hereto. The Recipient is invited to review all the
provisions of the Plan governing this Restricted Stock Award. 
  
 Dated:
December 1, 2005 
  

									
	ATTEST:	 	 	 	SERVICE BANCORP, INC.
					
	 By: 
	 	 	 	 	 	 By: 
	 	 
	 	 	 	 	 	 	 	 	 

  
 The Recipient
acknowledges receipt of a copy of the Plan, a copy of which is attached hereto, and represents that the Recipient is familiar with the terms and provisions thereof. The Recipient hereby accepts this Restricted Stock Award subject to all the terms
and provisions contained therein and in the Plan. The Recipient hereby agrees to accept as binding, conclusive, and final all decisions and interpretations of the Board of Directors of the Company upon any questions arising under the Plan.

  
 Dated:
                                        

  

			
		
	 By: 
	 	 
	 	 	 Recipient

  

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 ACKNOWLEDGMENT OF RECEIPT OF EARNED SHARES 
  
 I hereby acknowledge the delivery to me by Service Bancorp, Inc. (the
“Company”) on
                                        ,
of stock certificates for
                                        
shares of common stock of the Company earned by me pursuant to the terms and conditions of the Service Bancorp, Inc. Restricted Stock Award dated December 1, 2005, and the Service Bancorp, Inc. [Amended and Restated Stock Option
Plan][Recognition and Retention Plan], which shares were transferred to me on the Company’s stock record books on
                                        .

  
 Dated:
                                        

  

	
	
	 
	 Recipient’s name

	
	 
	 Recipient’s signature

  

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