Document:

EXECUTIVE SALARY CONTINUATION AGREEMENT

 EXHIBIT 10(i) 
  
 COMPASS BANK FOR SAVINGS 
  
 EXECUTIVE SALARY CONTINUATION AGREEMENT 
  
 AGREEMENT by and between Compass Bank for Savings of New Bedford, Massachusetts (hereinafter called the “Corporation”) and Carolyn A. Burnham of
South Dartmouth, Massachusetts, (hereinafter called the “Executive”), is entered into this 4th day of December, 2003. 
  
 WITNESSETH: 
  
 WHEREAS, the Executive is currently serving the Corporation as Executive Vice President/Retail; and 
  
 WHEREAS, because of the Executive’s experience, knowledge of affairs of
the Corporation, and reputation and contacts in the industry, the Corporation deems the Executive’s continued employment with the Corporation important for its future growth; and 
  
 WHEREAS, it is the desire of the Corporation and in its best interest that the Executive’s service be retained; and,

  
 WHEREAS, in order to induce the Executive to continue in the
employ of the Corporation and in recognition of her past service, the Corporation has entered into this Agreement to provide her or her beneficiaries certain benefits in accordance with the terms and conditions hereinafter set forth: 
  
 NOW, THEREFORE, in consideration of services performed in the past and to be
performed in the future as well as of the mutual promises and covenants herein contained, it is agreed as follows: 

 ARTICLE ONE 
  
 1.01 Employment. The Corporation may employ the Executive in such capacity as the Corporation may from time to time determine. Notwithstanding
anything herein contained, this Agreement is not an agreement of employment. Nothing herein shall restrict the right of the Executive to enter into an agreement with the Corporation concerning other terms and conditions of her employment.

  
 The benefits provided by this Agreement are not part of any
salary reduction plan or an arrangement deferring a bonus or a salary increase. The Executive has no option to take any current payment or bonus in lieu of these salary continuation benefits. 
  
 ARTICLE TWO 
  
 2.01 Normal Retirement Benefits. If the Executive shall continue in the employment of the Corporation until she
attains the age of sixty-five (65), she shall be entitled to a supplemental retirement benefit (hereinafter “Benefit”) commencing on the first day of the month next following her actual retirement and continuing for fifteen (15) years, in
an amount equal to twenty-five percent (25%) of the average of the three (3) highest years of Compensation (average compensation) paid to such Executive in the ten (10) years of employment with the Corporation immediately preceding such
Executive’s retirement from the Corporation. 
  
 2.02
Early Retirement Benefits. If the Executive shall continue in the employment of the Corporation until at least age fifty-five (55), but not sixty-five (65), she shall be entitled to receive a Benefit commencing on the first day of the month
next following her attainment of age sixty-five (65) and continuing for fifteen (15) years equal to twenty-five percent (25%) of the average of the three (3) highest years of Compensation paid to such Executive during the ten (10) years of
employment with the Corporation immediately preceding such Executive’s retirement 
  

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 from the Corporation. If the Benefit commences prior to age sixty-five (65), said Benefit shall be equal to a reduced
amount determined as provided below (with appropriate interpolation between ages). 
  

	 RETIREMENT AGE

	  	PERCENTAGE
OF AGE
SIXTY-FIVE
BENEFIT

	 64
	  	.9346
	 63
	  	.8734
	 62
	  	.8163
	 61
	  	.7629
	 60
	  	.7130
	 59
	  	.6663
	 58
	  	.6227
	 57
	  	.5820
	 56
	  	.5439
	 55
	  	.5083

  
 2.03 Alternate
Forms of Payment. In lieu of the payments provided in Sections 2.01 and 2.02, the Executive may elect an actuarial equivalent single lump sum. Any election by an Executive under this section to receive a single lump sum shall be effective only
if it is made in writing and submitted to the Corporation no later than one year preceding the Executive’s retirement from the Corporation. For purposes of this Agreement, the Corporation shall use an interest rate of 7% and the 50% male/50%
female blended 1983 Group Annuity Mortality Table (straight life annuities) to determine actuarial equivalence. 
  
 2.04 Compensation. As used herein, the term compensation shall mean the Executive’s salary, bonuses, commissions or any other form of
incentive payments (prior to any salary reduction contributions to any Section 401(k) plan, Section 125 plan or non-qualified deferred compensation plan) during the calendar year. Said term shall not include any deferred accruals or non-cash
compensation paid to or on such Executive’s behalf. 
  

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 2.05 Installment Payments. The amount of benefits determined under Sections 2.01 and 2.02 shall be
payable to the Executive annually or as equal quarterly or monthly installments, as elected by the Executive thirty (30) days prior to her retirement date. 
  
 2.06 Change in Control Benefit. Upon a Change in Control, as defined in Section 2.07 below, notwithstanding anything to the contrary elsewhere
herein, the Company shall, as soon as possible, but in no event later than fifteen (15) days following the Change in Control, provide a lump sum payment to the Executive in an amount that is equal to the actuarial equivalent value of the benefit
that the Executive would be entitled to receive under Section 2.01 as of the date on which the Change in Control occurred as if the Executive had attained at least age 65 and as if the Executive’s Compensation had increased by 6% per year from
the date of the Change in Control until the Executive’s 65th birthday. 
  
 2.07 Definition of Change in Control. A “Change in Control”
means either of the following: 
  
 (a) a change
in control of a nature that would be required to be reported by Seacoast Financial Services Corporation (the “Holding Company”) or the Corporation in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities
Exchange Act of 1934, as amended (“Exchange Act”), whether or not the Holding Company or the Corporation in fact is required to comply with Regulation 14A thereunder; or 
  
 (b) the acquisition of “control” as defined in the Bank Holding Company Act of 1956, as amended or
the regulations thereunder, or as defined in the Change in Bank Control Act of 1978 or the regulations thereunder, of the Holding Company or the Corporation by any person, company or other entity; provided that, without limitation, 
  

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 such a Change in Control shall be deemed to have occurred if (1) any “person” (as such term is
used in Section 13(d) and 14(d) of the Exchange Act) other than a trustee or other fiduciary holding securities under an employee benefit plan of the Holding Company or the Corporation or a corporation owned, directly or indirectly, by the
stockholders of the Holding Company in substantially the same proportions as their ownership of stock of the Holding Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
of securities of the Holding Company representing 25% or more of the combined voting power of the Holding Company’s then outstanding securities; or (2) during any period of two consecutive years (not including any period prior to the effective
date of this plan), individuals who at the beginning of such period constitute the Board of Directors of the Holding Company and any new director (other than a director designated by a person who has entered into an agreement with the Holding
Company to effect a transaction described in clauses (1) or (3) of this subsection) whose election by the Board or nomination for election by the Holding Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the
directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof, or (3) the consummation of a
merger or consolidation of the Holding Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Holding Company outstanding immediately prior thereto continuing to represent (either
by remaining outstanding or by being converted into voting securities of the surviving entity) at least two-thirds (2/3) of the combined voting power of the voting securities of the Holding 
  

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 Company or such surviving entity outstanding immediately after such merger or consolidation, or the
stockholders of the Holding Company approve a plan of complete liquidation of the Holding Company or an agreement for the sale or disposition by the Holding Company of all or substantially all the Holding Company’s assets. 
  
 ARTICLE THREE 
  
 3.01 Death of Executive. Upon the death of the Executive while in the employ of the Corporation, the Corporation will
pay to the Executive’s beneficiary or beneficiaries an annual amount equal to twenty-five percent (25%) of the Executive’s annual salary (prior to any salary reduction contributions to any Section 401(k) plan, Section 125 plan or
non-qualified deferred compensation plan) immediately preceding the Executive’s death for a period of fifteen (15) years. The Executive shall provide a written designation of beneficiary, including contingent beneficiaries, if any, to the
Corporation. If no beneficiary is designated or if no beneficiary is alive when any payment is due, then such payment shall be made to the Executive’s estate. The Corporation, in its sole discretion, may pay the benefits pursuant to this
paragraph in any actuarial equivalent form as defined in Section 2.03. The Executive shall have the right to change such beneficiary designation while employed by the Corporation or while receiving benefits hereunder by executing and delivering to
the Corporation an authorization duly executed effecting such change. 
  
 3.02 Payments After Retirement. In the event of the death of the Executive after payments hereunder have commenced but prior to payment in full hereunder, the remaining benefits, if any, shall be paid to the beneficiary or
beneficiaries designated by such deceased Executive pursuant to this Agreement. 
  

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 ARTICLE FOUR 
  
 4.01 Termination of Employment. If the Executive’s employment with the Corporation terminates for other than as provided in Section 4.02 prior
to age fifty-five (55) for any reason other than death or disability, she shall forfeit all rights to a benefit under this Agreement; provided, however, the Executive shall be entitled to receive a benefit, commencing upon the attainment of age
sixty-five (65) equal to five percent (5%) of the benefit she would have received under Section 2.01 had she continued in employment for each year of service after attaining the age of thirty-five (35). 
  
 4.02 Termination for Cause. All benefits not yet paid under this
Agreement shall be forfeited by the Executive if her employment is terminated for any reason that is deemed to be cause under the rules, regulations or decisions of the National Labor Relations Board. 
  
 ARTICLE FIVE 
  
 5.01 Other Employment. As consideration for the benefits provided to the Executive in the Agreement, the Executive
agrees that she shall not at any time during which she is entitled to or receiving any payment under this Agreement enter into the employ, as an employee or independent contractor, of any other banking corporation or competing organization in a
capacity in which she competes with the Corporation within twenty-five (25) miles of any office of the Corporation in Massachusetts. If she enters into such employment, Benefits hereunder of any kind shall be permanently forfeited. In the event that
the Executive has received a lump sum payment hereunder, the Corporation has the right to obtain a permanent injunction against Executive being employed by a competing organization and shall also be entitled to receive money damages equivalent to
the amount which would be forfeited under this Agreement had a 
  

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 fifteen (15) year payout of benefits been in effect. Notwithstanding the foregoing, this Section 5.01 shall cease to
apply from and after a Change in Control. 
  
 ARTICLE SIX

  
 6.01 Alienability. Neither the Executive nor her
widower, shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the
payment of any debts, judgments, alimony or separate maintenance, owed by the Executive or her beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, or otherwise. 
  
 ARTICLE SEVEN 
  
 7.01 Participation in Other Plans. Nothing contained in this Agreement shall be construed to alter, abridge, or in
any manner affect the rights and privileges of the Executive to participate in and be covered by any pension, profit-sharing, group insurance, bonus or similar employee plans which the Corporation may now or hereafter have. 
  
 ARTICLE EIGHT 
  
 8.01 Funding. The Corporation reserves the absolute right at its sole and exclusive discretion to insure or otherwise
provide for the obligations of the Corporation undertaken by this Agreement or to refrain from same, and to determine the extent, nature, and method thereof. Should the Corporation elect to insure this Agreement, in whole or in part, through the
medium of life insurance or annuities, or both, the Corporation shall be the owner and beneficiary of the policy. Notwithstanding the foregoing, in order to pay Benefits under this Agreement as they become payable, the Corporation may establish a
Grantor Trust (within the meaning of Section 671 of the Internal Revenue Code of 1986) and periodically transfer assets to such trust. At no 
  

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 time shall the Executive be deemed to have any right, title, or interest in or to any specified asset or assets of the
Corporation, including, but not by way of restriction, any insurance or annuity contract or contracts or the proceeds therefrom or any trust established hereunder. 
  
 Any such policy, contract or asset shall not in any way be considered to be security for the performance of the obligations
of this Agreement. 
  
 If the Corporation purchases a life
insurance or annuity policy on the life of the Executive, she agrees to sign any papers that may be required for that purpose and to undergo any medical examination or tests which may be necessary, and generally cooperate with the Corporation in
securing such policy. 
  
 ARTICLE NINE 
  
 9.01 Reorganization. The Corporation shall not merge or consolidate
into or with another corporation, or reorganize, or sell substantially all of its assets to another corporation, firm, or person unless and until such succeeding or continuing corporation, firm, or person agrees to assume and discharge the
obligations of the Corporation under this Agreement. Upon the occurrence of such event, the term “Corporation” as used in this Agreement shall be deemed to refer to such successor or survivor corporation. 
  
 ARTICLE TEN 
  
 10.01 Corporation. As used in this Agreement, Corporation shall mean Compass Bank for Savings and any affiliated
entity, successor organization, parent, subsidiary or holding company. 
  

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 ARTICLE ELEVEN 
  
 11.01 Communications. Any notice or communication required of either party with respect to this Agreement shall be made in writing and may either
be delivered personally or sent by first class mail, as the case may be; 
  
 To the Corporation: 
  
 Compass Bank for Savings 
 One Compass Place 
 New Bedford, MA 02740 
  
 To the Executive: 
  
 Carolyn A. Burnham 
 Address on file with the Corporation 
  
 Each party shall
have the right by written notice to change the place to which any notice may be addressed. 
  
 ARTICLE TWELVE 
  
 12.01 Claims
Procedure. In the event that benefits under this Agreement are not paid to the Executive (or her beneficiary in the case of the Executive’s death), and such person feels entitled to receive them, a claim shall be made in writing to the
Corporation within sixty (60) days after written notice from the Corporation to the Executive or her beneficiary or personal representative that payments are not being made or are not to be made under this Agreement. Such claim shall be reviewed by
the Corporation. If the claim is approved or denied, in full or in part, the Corporation shall provide a written notice of approval or denial within sixty (60) days setting forth the specific reason for denial, specific reference to the provisions
of this Agreement upon which the denial is based, and any additional material or information necessary to perfect the claim, if any. Also, such written notice shall indicate the steps to be taken of a review of the denial is desired. 
  

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 If a claim is denied and a review is desired, the Executive (or beneficiary in the case of the
Executive’s death), shall notify the Corporation in writing within twenty (20) days (and a claim shall be deemed denied if the Corporation does not take any action within the aforesaid sixty (60) day period). In requesting a review, the
Executive or her beneficiary may review this Agreement or any documents relating to it and submit any written issues and comments she or she may feel appropriate. In its sole discretion the Corporation shall then review the claim and provide a
written decision within sixty (60) days. This decision likewise shall state the specific reasons for the decision and shall include reference to specific provisions of this Agreement on which the decision is based. 
  
 Any decision of the Corporation shall not be binding on the Executive, her
personal representative, or any beneficiary without consent, nor shall it preclude further action by the Executive, her personal representative or any beneficiary. 
  
 ARTICLE THIRTEEN 
  
 13.01 Entire Agreement. This instrument may be altered or amended only by a written agreement signed by the parties hereto. 
  
 13.02 Jurisdiction. The terms and conditions of this Agreement are
subject to the laws of The Commonwealth of Massachusetts. 
  

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 IN WITNESS WHEREOF, the Corporation has caused this Agreement to be duly executed by its duly authorized
officer and its Corporate seal affixed, duly attested by its Secretary, and the Executive has hereunto set her hand and seal at New Bedford, Massachusetts the day and year first above written. 
  
  

	ATTEST:	 	 	 	 COMPASS BANK FOR SAVINGS

				
	  

	 	 	 	By:	 	 /S/    KEVIN G. CHAMPAGNE

	Secretary	 	 	 	Title:	 	President and Chief Executive Officer

  
  

	 	 	 	 	 EXECUTIVE

			
	  

	 	 	 	 /S/    CAROLYN A. BURNHAM

	Witness	 	 	 	Carolyn A. Burnham

  

 12COMPASS BANK FOR SAVINGS EXECUTIVE SAVINGS PLAN AS AMENDED AND RESTATED

 EXHIBIT 10(j) 
  
 COMPASS BANK FOR SAVINGS 
 EXECUTIVE SAVINGS PLAN 
  
 AS AMENDED AND RESTATED
EFFECTIVE DECEMBER 1, 2003 
  
 ARTICLE I 
  
 GENERAL 
  
 1.1 Introduction. The Compass Bank for Savings Executive Savings Plan (the “Savings Plan”), amended and
restated effective December 1, 2003, provides eligible officers: (a) the opportunity to defer salary and bonus compensation under a voluntary salary reduction agreement and (b) supplemental benefits as set forth in Section 3.2 to those Participants
listed in Appendix A. This Savings Plan is an amendment and restatement of the Compass Bank for Savings Executive Savings Plan which was originally effective as of October 1, 1995. 
  
 1.2 Definitions: Unless otherwise defined, all terms used in this Savings Plan shall have the same meaning as those
terms used in the Compass Bank for Savings 401(k) Retirement Plan (the “401(k) Plan”). 
  
 1.3 No Right to Corporate Assets. This Savings Plan is unfunded, and the Employers will not be required to set aside, segregate, or deposit any
funds or assets of any kind to meet their obligations hereunder. Nothing in this Savings Plan will give a Participant, a Participant’s beneficiary or any other person any equity or other interest in the assets of the Employers, or create a
trust or a fiduciary relationship of any kind between the Employers and any such person. Any rights that a Participant, Beneficiary or other person may have under this Savings Plan will be solely those of a general unsecured creditor of the
Employers. Notwithstanding the foregoing, the Employers may establish a grantor trust of which they are treated as the owners under Section 671 of the Internal Revenue Code to provide for the payment of benefits hereunder. 
  
 1.4 Nonalienation of Benefits. The rights and benefits of a
Participant under this Savings Plan are personal to the Participant. No interest, right or claim under this Savings Plan, and no distribution therefrom, will be assignable, transferable or subject to sale, mortgage, pledge, hypothecation,
anticipation, garnishment, attachment, execution or levy, except by designation of Beneficiary. 
  
 1.5 Binding Effect of Plan. This Savings Plan will be binding upon and inure to the benefit of Participants and designated Beneficiaries and their
heirs, executors and administrators, and to the benefit of the Employers and their assigns and successors in interest. 
  
 ARTICLE II 
  
 ELIGIBILITY AND PARTICIPATION 
  
 2.1 Eligibility. The President of Compass Bank for Savings and other senior management employees of the Employers from time to time designated by the President are eligible to participate in this Savings Plan
(an “Eligible Executive”). 

 2.2 Voluntary Deferrals. Under this Savings Plan, an Eligible Executive may elect a voluntary
salary reduction from 1% to 15% of such Executive’s gross salary and from 1% to 100%, of such Executive’s discretionary bonus otherwise payable in cash for the year. Any such reduction is in whole percentages only. All such contributions
shall be referred to in this Savings Plan as “salary reduction contributions.” Each Eligible Executive who makes an election to make salary deferral contributions under this Article II shall be deemed a Participant. 
  
 2.3 Salary Reduction Elections. A voluntary salary reduction
contribution election must be made in writing on or before the December 31 preceding the year during which the compensation is to be earned, except that elections for the first year of eligibility of newly Eligible Executives must be made within 30
days of the date of initial eligibility. All elections must be in writing and are irrevocable after the effective date of the election. An election is effective only with respect to compensation earned after the election and is effective through
December 31 of the year to which it applies. The election will also specify the form of distribution elected by the Participant. 
  
 ARTICLE III 
  
 DEFERRED COMPENSATION BENEFITS 
  
 3.1 Salary Reduction Benefits. A Participant’s enrollment in this Savings Plan will constitute an agreement to reduce his salary and/or bonus and defer compensation in the amount indicated in his voluntary
salary reduction contribution election. 
  
 3.2 Supplemental
Contributions. Compass Bank for Savings will record an annual supplemental retirement credit for the benefit of those Participants listed in Appendix A (as amended from time to time by action of the Board of Directors of the Compass Bank for
Savings) for each calendar year, commencing with the calendar year in which such Participant is first listed in Appendix A, in an amount necessary, if any, to make up the projected “shortfall” in each such Participant’s projected
retirement income. The calculation of the projected shortfall and the amount of required credit shall be performed as of the beginning of each calendar year by an actuary selected in the sole discretion of Compass Bank for Savings. The actuary shall
project the value of such benefits at retirement age for each such Participant in accordance with the assumptions set forth in Appendix B. The shortfall to be credited under this Savings Plan as a supplemental credit each year will be an amount
determined by the actuary on the basis of the assumptions set forth in Appendix B, to eliminate the shortfall at normal retirement age. 
  
 In projecting whether there is a shortfall, the actuary shall consider the following sources of retirement income for each such Participant: 

 
 (a) The SBERA Defined Benefit Pension Plan (“SBERA
Plan”); 
 (b) Social Security Benefits; 
 (c) 401(k) matching contributions; 
 (d) ESOP contributions; 
 (e) Executive Salary Continuation Agreement (“SERP
Benefit”); and 
 (f) Benefits derived from prior supplemental contributions to this Savings Plan. 
  
  

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 The targeted amount of retirement income to be available to each such Participant is the percentage of
his average annual compensation for the three full calendar years prior to the year of determination as is listed in Appendix A beside each such Participant’s name. Compensation for this purpose shall include base salary and bonus (prior to
salary reduction contributions to any Section 401(k) plan, Section 125 plan or this Savings Plan), but not stock options, fringe benefits or other income. The target is not a guaranteed benefit to be provided under this Savings Plan; but rather is
the target for purposes of calculating the defined credit each year. 
  
 Any credit under this Section 3.2 shall be made under the Supplemental Account of each such Participant. No credit shall be required for any year in which no shortfall is projected by the actuary. If the actuary determines that there have
been excess credits, no negative adjustment shall be made on any such Participant’s Supplemental Account; provided, however, that no further credit shall be required until the actuary again determines that there exists a shortfall. 

 
 ARTICLE IV 
  
 ACCOUNTS AND CREDITS 
  
 4.1 Establishment of Accounts. For bookkeeping purposes only, each Participant will have each of the following accounts as is appropriate:

  
 (a) a Salary Reduction Account; 

(b) a Supplemental Account. 
  
 Credits and charges to such accounts will be made as provided in this Savings Plan. 
  
 4.2 Credits to Salary Reduction Contribution Account. Salary reduction contributions will be credited to a
Participant’s Salary Reduction Account as of the date the amount would otherwise have been paid to the Participant. The amount credited to a Participant’s Salary Reduction Account may be reduced to reflect the amount needed to satisfy any
tax withholding obligations attributable to the contribution if not otherwise paid by the Participant. 
  
 4.3 Deemed Investment Returns. Earnings and losses will be recorded in each Participant’s accounts in accordance with such method of
determining returns as may from time to time be established by the Salary Committee of the Board of Directors of Compass Bank For Savings (the “Committee”). 
  
 4.4 Change in Control. In the event of a Change in Control Compass Bank for Savings will record additional
supplemental retirement credits for the benefit of those Participants listed in Appendix A in an amount equal to the projected shortfall if each such Participant had remained employed until age 65. For purposes of this section, a “Change in
Control” means either of the following: 
  
 (a) a change in control of a nature that would be required to be reported by Seacoast Financial Services Corporation (the “Company”) or Compass Bank For Savings in response to Item 6(e) of Schedule 14A of Regulation 14A
promulgated under the Securities Exchange Act of 1934, as amended (“Exchange Act”), whether or not the 
  

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 Company or Compass Bank For Savings in fact is required to comply with Regulation 14A thereunder; or

  
 (b) the acquisition of “control” as
defined in the Bank Holding Company Act of 1956, as amended or the regulations thereunder, or as defined in the Change in Bank Control Act of 1978 or the regulations thereunder, of the Company or Compass Bank For Savings by any person, company or
other entity; provided that, without limitation, such a Change in Control shall be deemed to have occurred if (1) any “person” (as such term is used in Section 13(d) and 14(d) of the Exchange Act) other than a trustee or other fiduciary
holding securities under an employee benefit plan of the Company or Compass Bank For Savings or a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the
Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 25% or more of the combined voting power of the Company’s then
outstanding securities; or (2) during any period of two consecutive years (not including any period prior to the effective date of this plan), individuals who at the beginning of such period constitute the Board and any new director (other than a
director designated by a person who has entered into an agreement with the Company to effect a transaction described in clauses (1) or (3) of this Subsection) whose election by the Board or nomination for election by the Company’s stockholders
was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to
constitute a majority thereof, or (3) the consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately
prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least two-thirds (2/3) of the combined voting power of the voting securities of the Company or such
surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially
all the Company’s assets. 
  
 ARTICLE V 
  
 DISTRIBUTIONS 
  
 5.1 Distributions. Distributions to a Participant shall be made upon
the earliest of a Participant’s retirement, death or other termination of employment in accordance with the form of benefit requested by the Participant in his voluntary salary reduction contribution election, subject, however, to the
discretion of the Committee to use any form of payment it determines. If no form of distribution is elected, the Committee may distribute benefits at a time and in a form that most closely approximates the form and time of distributions to the
Participant under the 401(k) Plan. Notwithstanding the foregoing, upon a Change in Control, benefits shall be distributed to the Participants in a lump sum as soon as possible, but in no event later than fifteen (15) days following the Change in
Control. 
  

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 5.2 Designation of Beneficiary. A Participant may designate one or more Beneficiaries to receive
any portion of the amount remaining in his accounts as of the date of death and may revoke or change such a designation at any time. If the Participant names two or more Beneficiaries, distribution to them will be in such proportions as the
Participant designates or, if the Participant does not so designate, in equal shares. Any designation of Beneficiary will be in writing on such form as the Committee may prescribe and will be effective upon filing with the Committee. Any portion of
a distribution payable upon the death of a Participant which is not disposed of by a designation of Beneficiary, for any reason whatsoever, will be paid to the Participant’s spouse if living at his death, otherwise equally to the
Participant’s natural and adopted children (and the issue of a deceased child by right of representation), otherwise to the Participant’s estate. 
  
 5.3 Hardship Withdrawals. Upon request of a Participant or Beneficiary, the Committee may in its discretion permit a withdrawal of all or a portion
of the Participant’s accounts in the event of a financial hardship caused by an unforeseeable emergency. An unforeseeable emergency is an unanticipated emergency that is caused by an event beyond the control of the Participant or Beneficiary
and that would result in severe financial hardship if early withdrawal were not permitted. The Committee may approve a withdrawal only to the extent needed to meet the emergency. 
  
 ARTICLE VI 
  
 AMENDMENT AND TERMINATION 
  
 6.1 Amendment. Except as provided in Section 4.3, Compass Bank For Savings may, without the consent of any Participant, Beneficiary or other
person, amend this Savings Plan at any time and from time to time; provided, however, that no amendment will reduce the amount then credited to the accounts of any Participant at the time of the amendment. 
  
 6.2 Termination. Compass Bank For Savings may terminate this Savings
Plan at any time. Upon termination of this Savings Plan, payments from a Participants’ accounts will be made in the manner and at the time prescribed in Section 5.1, provided that Compass Bank For Savings may, in its discretion, distribute a
Participant’s account in a lump sum as soon as practicable after the date this Savings Plan is terminated. 
  
 6.3 Actions on Behalf of Compass Bank for Savings. Any actions which Compass Bank for Savings may be entitled to take under this Article VI or
otherwise under this Savings Plan shall be taken in the sole discretion of the Board of Directors of Compass Bank for Savings, unless the Board has delegated its authority to a Committee thereof or to one or more named officers of Compass Bank for
Savings. 
  
 ARTICLE VII 
  
 ADMINISTRATION 
  
 7.1 Administration. This Savings Plan will be administered by the
Committee who will have sole responsibility for its interpretation. 
  

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 7.2 Interpretation. The portion of this Savings Plan that provides benefits in excess of the
restrictions on Annual Additions under the 401(k) Plan is intended to be an “excess benefit plan” as defined in Section 2(36) of ERISA. The portion of this Savings Plan that provides all other benefits is intended to be a Savings Plan for
a select group of management or highly compensated employees as provided in Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. This Savings Plan will be interpreted in a manner that comports with the foregoing intentions. To the extent not governed
by federal law, this Savings Plan will be construed, enforced and administered according to the laws of the Commonwealth of Massachusetts. 
  
 7.3 Claims Procedure. Any request for benefits by a Participant or Beneficiary will be filed in writing with the Committee. Within 60 days after
receipt of a claim, the Committee will provide written notice to any claimant whose claim has been wholly or partly denied, including: (a) the reasons for the denial, (b) the provisions of this Savings Plan on which the denial is based, (c) any
additional material or information necessary to perfect the claim and the reasons it is necessary, and (d) the claims review procedure of this Savings Plan. A claimant will be given a full and fair review by the Committee of the denial of his claim
if he requests a review in writing within 60 days after notification of the denial. The claimant may review pertinent documents and may submit issues and comments in writing. The Committee shall render its decision or review within 60 days following
the later of the claimant’s request for review or, if applicable, the claimant’s submission of issues and comments. Such decision will be in writing and contain (x) the specific reason for the decisions, (y) specific reference to the
provisions of this Savings Plan on which it is based, and (z) such other matters as it deems relevant. 
  
 EXECUTED this 4th day of December, 2003. 
  

	COMPASS BANK FOR SAVINGS
		
	By:	 	/S/    KEVIN G. CHAMPAGNE
	 	

	 	 	 Kevin G. Champagne
 President and Chief Executive Officer

  
  
  

 6 

	 APPENDIX A
	  	COMPASS BANK FOR SAVINGS
	 	  	EXECUTIVE SAVINGS PLAN

  
  

	 Participant
	  	Retirement Income Target
Percentage
	 Kevin G. Champagne
	  	70%
	 Francis S. Mascianica, Jr.
	  	70%
	 Arthur W. Short
	  	70%
	 John D. Kelleher
	  	70%
	 Carolyn A. Burnham
	  	70%

  

	 APPENDIX B
	  	COMPASS BANK FOR SAVINGS
	 	  	EXECUTIVE SAVINGS PLAN

  
 ASSUMPTIONS 
  

	 Future Annual Compensation Increases:
	  	6.00%
	 Earnings Rate for SBERA Pension Plan Lump Sum Distribution, 401(k) and ESOP Account Balances:
	  	7.00%
	 Future Social Security Taxable Wage Base, Consumer Price Index and 401(k) Dollar Limit Increases:
	  	3.00%
	 Employee 401(k) Contribution Rate:
	  	6.00%1
	 Employer Matching Contribution Rate:
	  	 
	 -Percentage Match
	  	50.00%2
	 -Up to Maximum % of Pay
	  	6.00%
	 ESOP Contribution Rate
	  	2.00%3
	 SERP Benefit Payable for:
	  	15 years
	 Assumed Retirement Age:
	  	65
	 Actuarial Assumptions
	  	7% interest, 50% male/ 50% female blended 1983 Group Annuity Mortality Table (monthly straight life annuities)

  
 Amounts of annual benefits other than
SERP Benefit shown as offset are life annuities. Future bonuses are assumed to be paid at target. 
  
  

 1This
assumed rate is applied to Compensation eligible under Section 417 of the Code. This rate shall be applied even if actual contribution rate of executive changes. 
  
 2Match percentage will change if matching formula under 401(k) plan changes. 
  
 3To be
based on the percentage of Section 417 eligible compensation expected to be contributed to ESOP for the year of calculation.

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