Document:

EMPLOYMENT
      AGREEMENT

    

    THIS
      AGREEMENT
      (the
      "Agreement"), made as of this 26th day of March, 2008, (Effective Date) by,
      between and among Sandy Spring Bancorp, Inc., a Maryland corporation and
      registered bank holding company (Bancorp), Sandy Spring Bank, a Maryland
      corporation and wholly owned commercial banking subsidiary of Bancorp with
      its
      main office and headquarters located in Olney, Maryland (Bank), and Daniel
      J.
      Schrider (Officer). 

    

    WITNESSETH

    

    WHEREAS,
      the
      Officer is currently employed as an Executive Vice President and Chief Revenue
      Officer of the Bank. 

    

    WHEREAS,
      the
      Board is very interested in an appropriate succession planning process for
      the
      position of President and Chief Executive Officer of Bancorp and
      Bank.

    

    WHEREAS,
      as a
      result of the skill, knowledge, and experience of the Officer, the board of
      directors of Bancorp and Bank (collectively the "Board") desires to retain
      the
      services of the Officer in newly created positions, President of Bancorp and
      President and Chief Revenue Officer of the Bank, and which position is intended
      to assist the Board with its succession planning responsibilities noted
      above.

    

    WHEREAS,
      the
      Officer desires to serve as the President of Bancorp and President and Chief
      Revenue Officer of the Bank. 

    

    WHEREAS,
      the
      Officer and the
      Board
      desire to enter into an agreement setting forth the terms of conditions of
      the
      employment of the Officer as President of Bancorp and the Bank and Chief Revenue
      Officer of the Bank and the related rights and obligations of each of the
      parties.

    

    NOW,
      THEREFORE,
      in
      consideration of the premises and mutual covenants herein contained, it is
      agreed as follows:

    

    1.    Employment.
      As
      described further herein, the Officer shall be employed as the President of
      Bancorp and President and Chief Revenue Office of the Bank during the Term
      of
      this Agreement. Officer shall report directly to the Chairman of the Board
      and
      Chief Executive Officer of Bancorp and the Bank. During the Term, the Officer
      shall perform such duties and shall have all powers which are assigned to the
      Officer by the Chairman of the Board and Chief Executive Officer. The Officer’s
      major job accountabilities are set forth in a job description maintained by
      the
      Human Resources Division and which job description may be revised from time
      to
      time by the Human Resources Committee of the Board. The Officer's duties
      include, but are not limited to: 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (a)

            	
              Management
                oversight of the day-to-day activities of all revenue components
                of the
                Bank and recommendations
                to the Chairman and Chief Executive Officer concerning the strategies,
                policies, and tactics of the Bank related
                thereto;

            

    

    
      	 	
              (b)

            	
              Developing
                a business plan with objectives to be achieved during the plan year
                in
                support of strategic goals; and

            

    

    
      	 	
              (c)

            	
              Promoting
                the services of the Bank and conducting and coordinating marketing
                and
                promotional activities designed to develop new business and future
                business initiatives;

            

    

    
      	 	
              (d)

            	
              Providing
                complete, timely, and accurate reports, as required, regarding the
                revenue
                activities of the Bank;

            

    

    
      	 	
              (e)

            	
              Providing
                effective leadership and supervision to promote efficiency and optimum
                performance of Bank officers and
                employees;

            

    

    
      	 	
              (f)

            	
              Oversight
                of the credit risk management processes of the Bank’s Credit Risk Policy,
                and related procedures.

            

    

    

    2.    Location
      and Facilities.
      The
      Officer will be furnished with the working facilities and staff customary for
      executive officers with the title and duties set forth in Section 1 and as
      are
      necessary for the Officer to perform the duties of the position. The location
      of
      such facilities and staff shall be at the principal administrative offices
      of
      Bank, or at such other site or sites agreed to by the Board.

    

    3.    Term 

    

    
      	 	
              a.

            	
              The
                term of this Agreement (the “Term”) shall consist of the period commencing
                at the Effective Date and continuing through December 31, 2008 and
                any
                extension of the Term made pursuant to this Section 3.
                

            

    

    

    
      	 	
              b.

            	
              The
                Term shall be extended for an additional period of three (3) months
                beyond
                December 31, 2008, without action by any party, provided that neither
                the
                Bank nor the Officer shall have given written notice at least thirty
                (30)
                days prior to the expiration date of its or the Officer’s desire that the
                Term not be extended. 

            

    

    

    
      	
            	c.	
              At
                the Effective Date, this Agreement shall supersede any prior employment
                agreement between the Officer and Bank including, but not limited
                to, all
                prior employment agreements between Officer and Bank, which shall
                be
                deemed terminated by agreement of the parties immediately prior to
                the
                Effective Date. 

            

    

     

    4.    Base
      Compensation.
      

    

    
      	 	
              a.

            	
              The
                Bank agrees to pay the Officer during the Term of this Agreement
                a base
                salary at the rate of $350,000 per annum, payable in cash not less
                frequently than twice monthly, as may be adjusted in accordance with
                this
                Section 4. 

            

    

    

    
      	 	
              b.

            	
              The
                Human Resources Committee of the Board shall perform an annual analysis
                of
                the Officer's performance and of the compensation of officers performing
                similar functions at financial institutions of comparable size and
                performance. The Board shall establish the annual salary rate to
                be paid
                to the Officer based upon this analysis and on such other factors
                as it
                deems pertinent. The annual salary rate may be maintained, increased
                or
                decreased, provided that no such action shall (i) reduce the rate
                of
                salary below the amount set forth in Section 4.a. or (ii) reduce
                the rate
                of salary paid to the Officer for any months prior to the month in
                which
                notice of the reduction is provided in writing to the Officer.
                

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	 	
              c.

            	
              In
                the absence of action by the Board, the Officer shall continue to
                receive
                salary at the amount set forth in Section 4.a. or, if another rate
                has
                been established under the provisions of this Section 4, the rate
                last
                properly established by action of the Board under the provisions
                of this
                Section 4.

            

    

    

    5.    Bonuses.
      

    

    
      	 	
              a.

            	
              The
                Officer shall be entitled to participate in a bonus program as determined
                by the Board based upon recommendation of the Human Resources Committee.
                The Officer also shall participate in any and all other fringe benefits
                which are or may become available to executive officers of the Bank,
                including, for example, any stock option or incentive compensation
                plans,
                Executive Incentive Retirement Plan, long term care insurance, disability
                income insurance, Group Term Replacement Plan, and any other benefits
                that
                are commen-surate with the responsibilities and functions to be performed
                by the Officer under this Agreement. No other compensation provided
                for in
                this Agreement shall be deemed a substitute for the Officer's right
                to
                participate in such discretionary bonuses or fringe benefits.
                

            

    

    

    6.    Benefit
      Plans.

    

    
      	 	
              a.

            	
              The
                Officer shall be entitled to participate in such life insurance,
                medical,
                dental, pension, profit sharing, and retirement plans and other programs
                and arrangements as may be approved from time to time by the Bank,
                for the
                benefit of the employees of the Bank.

            

    

    

    
      	 	
              b.

            	
              The
                Officer shall be entitled to fringe benefits in accordance with the
                plans,
                practices, policies and programs of Bank available to executive management
                of Bank. Without limiting the foregoing, Officer shall continue to
                be
                provided with a corporate membership at the Manor Country Club located
                on
                Carrollton Rd. Rockville, MD (or such other club as the parties may
                mutually agree upon), and be provided with an automobile allowance
                of
                $1000.00 per month, payable each regular pay period in equal
                amounts.

            

    

    

    7.    Paid
      Time Off.
      

    

    
      	 	
              a.

            	
              The
                Officer shall be entitled to paid time off time (i.e., vacation and
                sick
                days, herein referred to as “PTO”) and paid holidays pursuant to the
                plans, practices, programs and policies of Bank and available to
                executive
                officers of Bank; provided, however, that notwithstanding anything
                to the
                contrary in the plans, practices, programs and policies of Bank,
                (i)
                Officer shall be entitled to at least 240 hours of PTO per annum,
                to be
                taken at reasonable times and in reasonable periods as the Officer
                and
                Bank shall mutually determine, and provided that no PTO shall interfere
                with the duties required to be rendered by the Officer hereunder;
                and (ii)
                in addition to the foregoing, the 296 hours of accrued but unused
                PTO that
                Officer is credited with as of the Effective Date, as evidenced in
                the
                “etime” records maintained by the Human Resources department shall remain
                available to Officer, and (iii) at the end of calendar years 2008,
                Officer shall be permitted to carry over for use in the subsequent
                calendar year(s) all accrued but unused PTO hours in accordance with
                the
                policies of the Bank now in effect for executive officers.
                

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	 	
              b.

            	
              Officer
                shall continue to be credited with the 440 hours under the Extended
                Illness Benefit policies of the Bank currently available to Officer
                as of
                the Effective Date. 

            

    

    

    
      	 	
              c.

            	
              In
                addition to paid time off, the Officer shall be entitled, without
                loss of
                pay, to voluntarily take time off from work for such additional periods
                of
                time and for such valid and legitimate reasons as the Chief Executive
                Officer may in his discretion determine. Further, the Officer may
                request
                and be granted a leave or leaves of absence, with or without pay
                as deemed
                appropriate in the discretion of the Board, at such time or times
                and upon
                such terms and conditions as the Board in its discretion may
                determine.

            

    

    

    8.     Expense
      Payments and Reimbursements.
      The
      Officer shall be reimbursed in a reasonably prompt manner for all reasonable
      out-of-pocket business expenses incurred in connection with the Officer’s
      services under this Agreement upon substantia-tion of such expenses in
      accordance with applicable policies of the Bank. 

    

    
      	
              9.

            	
              Loyalty
                and Confidentiality.

            

    

    

    
      	 	
              a.

            	
              During
                the Term of this Agreement the Officer: (i) shall devote all the
                Officer’s
                time, attention, skill, and efforts to the faithful performance of
                the
                Officer’s duties hereunder; provided, however, that from time to time, the
                Officer may serve on the boards of directors of, and hold any other
                offices or positions in, companies or organizations which will not
                present
                any conflict of interest with the Bank or any of their subsidiaries,
                unfavorably affect the performance of Officer's duties pursuant to
                this
                Agreement or violate any applicable statute or regulation; (ii) devote
                reasonable periods of time to charitable and community activities;
                and
                (iii) manage personal business interests. Notwithstanding the foregoing,
                Officer shall not engage in any business or activity contrary to
                the
                business affairs or interests of the Bank or their
                subsidiaries.

            

    

    

    
      	 	
              b.

            	
              Nothing
                contained in this Agreement shall prevent or limit the Officer's
                right to
                invest in the capital stock or other securities of any business dissimilar
                from that of Bancorp and their subsidiaries or, solely as a passive,
                minority investor in any business.

            

    

    

    
      	 	
              c.

            	
              The
                Officer agrees to maintain the confidentiality of any and all information
                concerning the operation or financial status of the Bank; the names
                or
                addresses of any of their borrowers, depositors, clients, and other
                customers; any information concerning or obtained from such clients
                or
                customers; and any other information concerning the Bank, or their
                subsidiaries to which the Officer may be exposed during the course
                of
                employment. The Officer further agrees that, unless required by law
                or
                specifical-ly permitted by the Bank in writing, the Officer will
                not
                disclose to any person or entity, either during or subsequent to
                the
                officer’s employment, any of the above-mentioned information which is not
                generally known to the public, nor shall the Officer employ such
                information in any way other than for the benefit of the Bank.
                Notwithstanding the above provisions of this Section 9(c), the Officer
                may
                provide such information to Officer’s legal counsel relevant to pending or
                threatened legal action in which the Officer is or may be a party
                to the
                extent it is provided with the understanding and in a fashion that
                such
                information is and remains subject to attorney-client privilege of
                the
                Officer and Officer does not waive such privilege, and to Officer’s
                certified public accountant, to the extent that such information
                is
                reasonably necessary for the calculation of Officer’s federal, state, or
                local taxes, and in all events, provided that no disclosure of any
                such
                information: (i) is contrary to applicable law, including, without
                limitation, federal and state laws pertaining to the confidentiality
                of
                customer information and trade secrecy laws, or (ii) violates any
                other
                confidentiality agreement or policy to which Officer, the Bank or
                any of
                their subsidiaries is subject.

            

    

    

    10.  Termination
      and Termination Pay.
      During
      the Term, subject to Section 11 of this Agreement, the Officer's employment
      under this Agreement may be terminated in the following
      circumstances:

    

    
      	 	
              a.
                

            	
              Death.
                The Officer's employment under this Agreement shall terminate upon
                the
                Officer’s death during the Term of this Agreement, in which event the
                Officer's estate shall be entitled to receive the compensa-tion due
                to the
                Officer through the last day of the calendar month in which the Officer’s
                death occurred, as well as any vested benefits due to the Officer’s estate
                pursuant to the terms of the plans, policies or practices of the
                Bank
                

            

    

     

    
      	 	
              b.
                

            	
              Disability.
                The
                Bank or the Officer may terminate the Officer’s employment after having
                established the Officer’s Disability. For purposes of this Agreement,
                “Disability” means the
                Officer is unable to engage in any substantial gainful activity by
                reason
                of any medically determinable physical or mental impairment that
                can be
                expected to result in death or can be expected to last for a continuous
                period of not less than twelve (12) months.
                In
                the event of such Disability, the Officer’s obligation to perform services
                under this Agreement will terminate. In the event of such termination,
                the
                Officer shall be entitled to receive the
                following:

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	 	 	
              i.

            	
              The
                compensation and benefits provided for under this Agreement for any
                period
                during the Term of this Agreement and prior to the date of termination
                pursuant to this Section 10.c. during which the Officer is unable
                to work
                due to physical or mental infirmity (less any amounts which the Officer
                receives under any disability insurance maintained by the
                Bank);

            

    

    

    
      	 	 	
              ii.

            	
              For
                the
                period beginning upon the date of termination pursuant to this Section
                10.c. and continuing until
                the earlier of (A) the expiration of
                the remaining Term
                of this Agreement, or (B) the one-year anniversary of Officer’s
                termination due to Disability, (X) salary at the highest rate paid
                pursuant to Section 4 of this Agreement during the twelve months
                prior to
                the establishment of such disability under this Section 10.c.,
                reduced by any payments received by the Officer following
                termination under any
                disability plan or policy maintained by the Bank and (Y)
                Continued Welfare Benefits”.“Continued
                Welfare Benefits” shall mean benefits the same or substantially equivalent
                to those group health benefits which would have been provided to
                Officer
                in accordance with the plans described in Section 6(a) of this Agreement
                if Officer’s employment had not been terminated, or, upon the expiration
                of Officer’s eligibility for continuation in Bank’s welfare benefit plans
                through the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) or
                otherwise, a lump sum payment in lieu of such benefits equal to the
                cost
                to the Bank, of providing such benefits for such period if the Officer’s
                employment had not been terminated, grossed up for the effect of
                individual federal and state taxes on such payment at the combined
                marginal federal and state tax rate applicable to such officer for
                the
                calendar year preceding such
                termination.

            

    

    

    As
      a
      condition to any such benefits under this Agreement, the Bank Board’s Human
      Resources Committee may require the Officer to submit to such physical or mental
      evaluations and tests as it deems reasonably appropriate.

    

    c.    Just
      Cause.
      

    

    
      	 	 	
              i.

            	
              The
                Board may, by written notice to the Officer in the form and manner
                specified in this paragraph, immediately terminate the Officer’s
                employ-ment with the Bank at any time for Just Cause. The Officer
                shall
                have no right to receive compensa-tion or other benefits for any
                period
                after termination for Just Cause. Termina-tion for "Just Cause" shall
                mean
                termination because of, in the good faith determina-tion of the Board,
                provided that such determination is consistent with the treatment
                of other
                executives of the Bank and the Officer's:

            

    

    
      	 	 	 	
              (1)

            	
              Personal
                dishonesty that has a material and detrimental effect on the Bank
                or
                Bancorp; 

            

    

    
      	 	 	 	
              (2)

            	
              Willful
                misconduct; 

            

    

    
      	 	 	 	
              (3)

            	
              Intentional
                breach of fiduciary duty involving personal profit;
                

            

    

    
      	 	 	 	
              (4)

            	
              Intentional
                failure to perform duties under this
                Agreement;

            

    

    
      	 	 	 	
              (5)
                

            	
              Other,
                continuing material failure to perform duties assigned to the Officer
                under this Agreement after reasonable notification (which shall be
                stated
                in writing and given at least fifteen days prior to termination)
                by the
                Board of such failure;

            

    

    
      	 	 	 	
              (6)
                

            	
              Willful
                violation of (X) any law, rule or regulation (other than traffic
                violations or similar offenses) involving moral turpitude that has
                a
                material and detrimental effect on the Bank or (Y) a final
                cease-and-desist order; 

            

    

    
      	 	 	 	
              (7)

            	
              Being
                the subject of any legal or disciplinary event that is material to
                an
                evaluation of the Officer’s integrity or ability to meet contractual
                commitments to a client and that is required to be disclosed by Securities
                and Exchange Commission Rule 206(4)-4, as then in effect, or a successor
                to such Rule; or

            

    

    
      	 	 	 	
              (8)

            	
              Material
                breach by the Officer of any provision of this Agreement.
                

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	 	 	
              ii.

            	
              Notwithstanding
                the foregoing, the Officer shall not be deemed to have been terminated
                for
                Just Cause unless there shall have been delivered to the Officer
                a copy of
                a resolution duly adopted by the affirmative vote of not less than
                a
                majority of the entire membership of the Board at a meeting called
                and
                held for the purpose (after reasonable notice to the Officer and
                an
                opportunity for the Officer to be heard before the Board), finding
                that in
                the good faith opinion of the Board that the Officer was guilty of
                conduct
                described above and specifying the particulars
                thereof.

            

    

    

    
      	 	
              iii.

            	
              Notwithstanding
                the foregoing, it is expected that Officer will perform all duties
                and
                agreements to be performed herein, and Officer shall have the right
                to
                cure non-performance, to the extent such performance is reasonably
                capable
                of being cured, and shall promptly upon receipt of written notice
                of
                non-performance, comply with the requirements of such notice, and
                further
                if Officer shall not comply with such notice to the satisfaction
                of the
                Board within five (5) business days after delivery thereof, (except
                if
                such compliance cannot be reasonably completed within five (5) business
                days, if Officer shall not commence to comply within such period
                and
                thereafter proceed to completion with due diligence) the Board shall
                have
                the right to proceed with the Board meeting specified in the preceding
                paragraph.

            

    

    

    d.    Certain
      Regulatory Events.

    

    
      	 	
              i.

            	
              If
                the Officer is removed and/or permanently prohibited from participating
                in
                the conduct of the affairs of the Bank by an order issued under Sections
                8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act ("FDIA")
                (12
                U.S.C. §§ 1818(e)(4) and (g)(1)), Officer’s employment shall ter-minate as
                of the effective date of the order, and Officer shall be entitled
                to
                receive the compensa-tion due to the Officer through the date of
                termination, as well as any vested benefits due to the Officer pursuant
                to
                the terms of the plans, policies or practices of
                Bank.

            

    

    

    
      	 	
              ii.
                

            	
              If
                the Bank is in default (as defined in Section 3(x)(1) of FDIA), Officer’s
                employment shall terminate as of the date of default, and Officer
                shall be
                entitled to receive the compensa-tion due to the Officer through
                the date
                of termination, as well as any vested benefits due to the Officer
                pursuant
                to the terms of the plans, policies or practices of
                Bank.

            

    

    

    
      	 	
              iii.
                

            	
              If
                a notice served under Sections 8(e)(3) or (g)(1) of the FDIA (12
                U.S.C. §§
                1818(e)(3) and (g)(1)) suspends and/or temporarily prohibits the
                Officer
                from participating in the conduct of the affairs of the Bank or BANK,
                Officer’s employment under this Agreement shall be suspended as of the
                date of such service, unless stayed by appropriate proceedings. If
                the
                charges in the notice are dismissed, the Bank may, in its discretion,
                (i)
                pay the Officer all or part of the compensation withheld while its
                contract obligations were suspende-d, and (ii) reinstate (in whole
                or in
                part) any of its obliga-tions which were suspended.
                

            

    

    

    
      	 	
              e. 

            	
              Voluntary
                Termination by Officer.
                In addition to the Officer’s other rights to terminate under this
                Agreement, the Officer may voluntarily terminate employment with
                Bank
                during the Term of this Agreement upon at least thirty days' prior
                written
                notice to the Bancorp and Bank, in which case the Officer shall be
                entitled to receive the compensa-tion due to the Officer through
                the date
                of termination, as well as any vested benefits due to the Officer
                pursuant
                to the terms of the plans, policies or practices of Bank.
                

            

    

    

    f.     Without
      Just Cause or With Good Reason.
      

    

    
      	 	
              i.
                

            	
              In
                addition to termination pursuant to Section 10.a. through 10.e.:
                the Board
                may, by written notice to the Officer, immediately terminate the
                Officer’s
                employ-ment with Bank at any time for a reason other than Just Cause
                (a
                termination "Without Just Cause"); and the Officer may, by written
                notice
                to the Board, immediately terminate this Agreement at any time within
                thirty days following an event of "Good Reason" as defined below
                (a
                termination "With Good Reason"). 

            

    

    

    
      	 	
              ii.
                

            	
              Subject
                to Section 11 hereof, in the event of termination under this Section
                10.f., the Officer shall be entitled to receive eighteen months of
                current
                salary, at the highest annual rate in effect pursuant to Section
                4 of this
                Agreement, plus any annual cash bonuses for the year at the amount
                received, after the Effective Date, by the Officer in the calendar
                year
                preceding the termination, plus any vested benefits due to the Officer
                pursuant to the terms of the plans, policies or practices of Bank.
                The sum
                due under this Section 10.f. shall be paid in one lump sum within
                ten
                calendar days of such termination.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	 	
              iii.
                

            	
              "Good
                Reason" shall exist if, without the Officer's express written consent,
                Bank materially breaches any of its respective obligations under
                this
                Agreement during the Term. Without limitation, such a material breach
                shall be deemed to occur upon any of the
                following:

            

    

    

    
      	 	 	 	
              (1)

            	
              A
                material reduction in the Officer’s respon-sibilities or authority in
                connection with the Officer’s employment with
                Bank;

            

    

    
      	 	 	 	
              (2)

            	
              Assignment
                to the Officer of duties of a nonexecutive nature or duties for which
                the
                Officer is not reasonably equipped by the Officer’s skills and experience;
                

            

    

    
      	 	 	 	
              (3)

            	
              A
                material reduction in salary or benefits contrary to the terms of
                this
                Agreement, or, following a Change in Control as defined in Section
                11 of
                this Agreement, any material reduction in salary or material reduction
                in
                benefits below the amounts to which the Officer was entitled prior
                to the
                Change in Control;

            

    

    
      	 	 	 	
              (4)

            	
              Termination
                of incentive and benefit plans, programs, or arrangements, or reduction
                of
                the Officer's participation to such an extent as to materially reduce
                their aggregate value below their aggregate value as of the Effective
                Date; 

            

    

    
      	 	 	 	
              (5)

            	
              A
                requirement that the Officer’s principal business office or principal
                place of residence be relocated outside the Washington-Baltimore
                Consolidated Metropolitan Statistical Area (“CMSA”); or the assignment to
                the Officer of duties that would reasonably require such a
                relocation;

            

    

    
      	 	 	 	
              (6)

            	
              A
                requirement that the Officer spend more than thirty normal working
                days
                away from the Washington-Baltimore CMSA during any consecutive
                twelve-month period; or

            

    

    
      	 	 	 	
              (7)

            	
              Failure
                to provide office facilities, secretarial services, and other
                administrative services to Officer which are substantially equivalent
                to
                the facilities and services provided to the Officer at the Effective
                Date
                (excluding brief periods during which office facilities may be temporarily
                unavailable due to fire, natural disaster, or other calamity).
                

            

    

    
      	 	 	 	
              (8)

            	
              In
                the event of a Change in Control as defined in Section 11 of this
                Agreement, Officer shall have the right to resign for any reason
                during
                the first thirty (30) days immediately following the first six months
                after the closing date of a definitive acquisition agreement, the
                execution of which brought about a Change in
                Control.

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    Upon
      the
      occurrence of any event described in clauses (1) through (8), above, the Officer
      shall have the right to elect to terminate his employment under this Agreement
      by resignation upon sixty (60) days prior written notice given within a
      reasonable period of time not to exceed ninety (90) days after the initial
      event
      giving rise to said right to elect; provided, however that the Bank and the
      Bancorp shall have at least thirty (30) days to cure such condition and provided
      that the Officer actually terminates employment within two years after the
      initial occurrence of such event. Notwithstanding the preceding sentence, in
      the
      event of a continuing breach of this Agreement by the Bank or the Bancorp,
      the
      Officer, after giving due notice within the prescribed time frame of an initial
      event specified above, shall not waive any of his rights solely under this
      Agreement by virtue of the fact that the Officer has submitted his resignation
      but has remained in the employment of the Bank or the Bancorp and is engaged
      in
      good faith discussions to resolve any occurrence of an event described in
      clauses (1) through (8) above.

     

    
      	 	
              iv.

            	
              Notwithstanding
                the foregoing, a reduction or elimination of the Officer's benefits
                under
                one or more benefit plans maintained by the Bank as part of a good
                faith,
                overall reduction or elimination of such plan or plans or benefits
                there
                under applicable to all participants in a manner that does not
                discriminate against the Officer (except as such discrimination may
                be
                necessary to comply with law) shall not constitute an event of Good
                Reason
                or a material breach of this Agreement, provided that benefits of
                the type
                or to the general extent as those offered under such plans prior
                to such
                reduction or elimination are not available to other officers of the
                Bank,
                its subsidiaries, or any company that controls either of them under
                a plan
                or plans in or under which the Officer is not entitled to participate,
                and
                receive benefits, on a fair and nondiscriminatory
                basis.

            

    

    

    
      	 	
              v.

            	
              With
                the exception of a termination pursuant to Section 10.g.iii(8) of
                this
                Agreement, the parties to this Agreement intend for the payments
                to
                satisfy the short-term deferral exception under Section 409A of the
                Code.
                However, notwithstanding anything to the contrary in this Agreement,
                to
                the extend payments do not meet the short-term deferral exception
                of
                Section 409A of the Code and, in the event the Officer is a “Specified
                Employee” (as defined herein) no payment shall be made to the Officer
                under this Agreement prior to the first day of the seventh month
                following
                the Event of Termination in excess of the “permitted amount” under Section
                409A of the Code. For these purposes the “permitted amount” shall be an
                amount that does not exceed two times the lesser of: (A) the sum
                of the
                Officer’s annualized compensation based upon the annual rate of pay for
                services provided to the Bank for the calendar year preceding the
                year in
                which the Officer has an Event of Termination, or (B) the maximum
                amount
                that may be taken into account under a tax-qualified plan pursuant
                to
                Section 401(a)(17) of the Code for the calendar year in which occurs
                the
                Event of Termination. The payment of the “permitted amount” shall be made
                within sixty (60) days of the occurrence of the Event of Termination.
                Any
                payment in excess of the permitted amount shall be made to the Officer
                on
                the first day of the seventh month following the Event of Termination.
                “Specified Employee” shall be interpreted to comply with Section 409A of
                the Code and shall mean a key employee within the meaning of Section
                416(i) of the Code (without regard to paragraph 5 thereof), but an
                individual shall be a “Specified Employee” only if the Bank is a
                publicly-traded institution or the subsidiary of a public-traded
                holding
                company.

            

    

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    

    
      	 	
              g. 

            	
              Continuing
                Covenant not to Compete or Interfere with Relationships.
                Regardless of anything herein to the contrary, following a termination
                (i)
                due to Disability (ii) for Just Cause or (iii) by the Officer pursuant
                to
                Section 10.f.: 

            

    

    

    
      	 	 	
              i.

            	
              Without
                limitation, the Officer's obligations under Section 9.c. of this
                Agreement
                will continue in effect as provided thereby; and
                

            

    

     

    
      	 	 	
              ii.

            	
              During
                the remaining Term of this Agreement, the Officer (a) shall not serve
                as
                an officer or director or employee of any bank holding company, bank,
                savings association, trust company, savings and loan holding company,
                or
                mortgage company (any of which, a "Financial Institution") or any
                investment advisory or brokerage firm (either of which, a “Securities
                Firm”), in a capacity similar to that described in Section 1 of this
                Agreement, which Financial Institution or Securities Firm offers
                services
                from offices in Washington, D.C., Maryland or Virginia; (b) shall
                not
                provide services to any client to which the Bank or any of its
                subsidiaries provided services through the Officer or under the Officer’s
                direction prior to his termination; and (c) shall not interfere with
                the
                relationship of the Bank or any of its subsidiaries with any of their
                employees, agents, or representatives; provided, however, that the
                provisions of this noncompetition clause shall not apply to termination
                of
                the Officer after a Change in Control as defined in Section 11. (It
                being
                the intent of the parties that the noncompetition clause shall not
                apply
                to terminations resulting from or due to a Change in
                Control.)

            

    

    

    11.    Termination
      in Connection with a Change in Control.

    

    
      	 	
              a.
                

            	
              For
                purposes of this Agreement, a "Change in Control" shall be deemed
                to occur
                on the earliest of:

            

    

    

    
      	 	
              i. 

            	
              The
                acquisition by any entity, person or group (other than
                the acquisition by a tax-qualified retirement plan sponsored by the
                Bank)
                of beneficial ownership, as that term is defined in Rule 13d-3 under
                the
                Securities Exchange Act of 1934, of more than 25% of the outstanding
                capital stock of Bancorp or the Bank entitled to vote for the election
                of
                directors ("Voting Stock");

            

    

     

    
      	 	
              ii.

            	
              The
                commencement by any entity, person, or group (other than Bancorp
                or the
                Bank, a subsidiary of Bancorp or the Bank or a tax-qualified retirement
                plan sponsored by Bancorp or the Bank) of a tender offer or an exchange
                offer for more than 20% of the outstanding Voting Stock of Bancorp
                or the
                Bank; 

            

    

     

    
      	 	
              iii.
                

            	
              The
                execution of a definitive agreement of (a) a merger or consolidation
                of
                Bancorp or the Bank with one or more other corporations as a result
                of
                which the holders of the outstanding Voting Stock of Bancorp or the
                Bank
                immediately prior to such merger exercise voting control over less
                than
                80% of the Voting Stock of the surviving or resulting corporation,
                or (b)
                a transfer of substantially all of the property of Bancorp or the
                Bank
                other than to an entity of which Bancorp or the Bank owns at least
                80% of
                the Voting Stock;

            

    

     

    
      	 	
              iv.

            	
              Upon
                the acquisition by any entity, person, or group of the control of
                the
                election of a majority of the Bank's or Bancorp's
                directors,

            

    

     

    
      	 	
              v.

            	
              At
                such time that, during any period of two consecu-tive years, individuals
                who at the beginning of such period constitute the Board of Bancorp
                or the
                Bank (the "Continuing Directors") cease for any reason to constitute
                at
                least two-thirds thereof, provided that any individual whose election
                or
                nomination for election as a member of the Board was approved by
                a vote of
                at least two-thirds of the Continuing Directors then in office shall
                be
                considered a Continuing Director,

            

    

     

    
      	 	
              vi.

            	
              Upon
                the sale of substantially all of the stock of Bancorp or Bank to
                a person
                other than Bancorp or a direct or indirect subsidiary of Bancorp
                or the
                Bank.

            

    

    

    
      	 	
              b. 

            	
              Termination.
                If within the period beginning six months prior to and ending two
                years
                after a Change in Control, (i) Bancorp or the Bank shall terminate
                the
                Officer's employment Without Just Cause, or (ii) the Officer shall
                voluntarily terminate employment With Good Reason, Bank shall, within
                ten
                calendar days of the termination of Officer's employment, make a
                lump-sum
                cash payment to the Officer equal to 2.99 times the sum of (x) the
                Officer’s annual salary at the highest annual rate in effect for any of
                the twelve months immediately preceding the date of such termination,
                plus
                (y) the amount of other compensation received by the Officer pursuant
                to
                this Agreement during the calendar year preceding the Change in Control.
                This cash payment is subject to adjustment pursuant to Section 14
                of this
                Agreement, and shall be made in lieu of any payment also required
                under
                section 10.g. of this Agreement because of a termination in such
                period.
                The Officer's rights under Section 10.g. are not otherwise affected
                by
                this Section 11. Also, in such event, for three calendar years following
                Officer’s termination of employment, the Officer shall continue to
                participate in any benefit plans of Bank that provide health (including
                medical, dental and vision) life, disability, long term care, or
                similar
                coverage upon terms no less favorable than the most favorable terms
                provided to executive officers of the Bank during such period.
                

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	 	
              c.
                

            	
              Funding
                of Trust upon Change in Control.
                In order to assure payment to the Officer of amounts that may become
                payable pursuant to this Section, unless and to the extent the Officer
                has
                previously provided a written release of any claims under Section
                11 of
                this Agreement, not later than ten business days after a Change in
                Control, Bancorp or the Bank shall (i) establish a valid trust under
                the
                law of the State of Maryland with an independent trustee that has
                or may
                be granted corporate trust powers under Maryland law, (ii) deposit
                in such
                trust an amount equal to 2.99 times the Officer’s "base amount" as defined
                in Section 280G(b)(3) of the Code and regulations promulgated there
                under
                (Section 280G and related regulations hereinafter referred to as
                Section
                280G") plus such amounts deemed adequate to cover the obligations
                of the
                Bank under Section 14 of this Agreement, at the time of the Change
                of
                Control, and (iii) provide the trustee of the trust with a written
                direction to hold said amount and any investment return thereon in
                a
                segregated account, and to pay such amounts as demanded by the Officer
                from the trust upon written demand from the Officer stating the amount
                of
                the payment demanded from the trust and the basis for the Officer’s rights
                to such payment under Section 11 of this Agreement. Upon the earlier
                of
                the final payment of all amounts demanded by the Officer under this
                Section 11 or the date thirty-six months after the Change in Control,
                the
                trustee of the trust shall pay to the Bank, as applicable, the entire
                balance remaining in the trust. Payments from the trust to the Officer
                shall be considered payments made by the Bank for purposes of this
                Agreement. Payment of such amounts to the Officer from the trust,
                however,
                shall not relieve the Bank from any obligation to pay amounts in
                excess of
                those paid from the trust, or from any obligation to take actions
                or
                refrain from taking actions otherwise required by this Agreement.
                Unless
                and until a termination of or by the Officer as described in Section
                11.b.(i) or (ii), the Officer's rights under this Agreement shall
                be those
                of a general, unsecured creditor, the Officer shall have no claim
                against
                the assets of the trust, and the assets of the trust shall remain
                subject
                to the claims of creditors of the Bank, as applicable. Upon the
                termination of the trust as specified herein, the Officer shall have
                no
                further interest in the trust.

            

    

    

    
      	 	
              d.

            	
              Notwithstanding
                the foregoing and with the exception of a termination under Section
                10.g.iii(8) of this Agreement, the parties to this Agreement intend
                for
                the payments to satisfy the short-term deferral exception under Section
                409A of the Code or, in the case of health and welfare benefits,
                not
                constitute deferred compensation (since such amounts are not taxable
                to
                the Officer). However, notwithstanding anything to the contrary in
                this
                Agreement, to the extent payments do not meet the short-term deferral
                exception of Section 409A of the Code and, in the event the Officer
                is a
                “Specified Employee” (as defined herein) no payment shall be made to the
                Officer under this Agreement prior to the first day of the seventh
                month
                following the Event of Termination in excess of the “permitted amount”
                under Section 409A of the Code. For these purposes the “permitted amount”
                shall be an amount that does not exceed two times the lesser of:
                (A) the
                sum of the Officer’s annualized compensation based upon the annual rate of
                pay for services provided to the Bank for the calendar year preceding
                the
                year in which the Officer has an Event of Termination, or (B) the
                maximum
                amount that may be taken into account under a tax-qualified plan
                pursuant
                to Section 401(a)(17) of the Code for the calendar year in which
                occurs
                the Event of Termination. The payment of the “permitted amount” shall be
                made within sixty (60) days of the occurrence of the Event of Termination.
                Any payment in excess of the permitted amount shall be made to the
                Officer
                on the first day of the seventh month following the Event of Termination.
                “Specified Employee” shall be interpreted to comply with Section 409A of
                the Code and shall mean a key employee within the meaning of Section
                416(i) of the Code (without regard to paragraph 5 thereof), but an
                individual shall be a “Specified Employee” only if the Bank is a
                publicly-traded institution or the subsidiary of a publicly-traded
                holding
                company.

            

    

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    

    12.    Indemnification
      and Liability Insurance.
      

    

    
      	 	
              a.

            	
              Indemnification.
                Bancorp and the Bank agree to indemnify the Officer (and the Officer’s
                heirs, executors, and administrators) to the fullest extent permitted
                under applicable law and regulations against any and all expenses
                and
                liabilities reasonably incurred by the Officer in connection with
                or
                arising out of any action, suit, or proceeding in which the Officer
                may be
                involved by reason of having been a director or officer of the Bank,
                or
                any of its subsidiaries (whether or not the Officer continues to
                be a
                director or officer at the time of incurring any such expenses or
                liabilities) such expenses and liabilities to include, but not be
                limited
                to, judgments, court costs and attorney's fees and the cost of reasonable
                settlements, such settlements to be approved by the Board of the
                Bank, if
                such action is brought against the Officer in the Officer’s capacity as an
                officer or director of the Bank or any of its subsidiaries.
                Indemnification for expenses shall not extend to matters for which
                the
                Officer has been terminated for Just Cause. Nothing contained herein
                shall
                be deemed to provide indemnification prohibited by applicable law
                or
                regulation. Notwithstanding anything herein to the contrary, the
                obligations of this Section 12 shall survive the Term of this Agreement
                by
                a period of seven years.

            

    

     

    
      	 	
              b.
                

            	
              Insurance.
                During the period in which indemnification of the Officer is required
                under this Section, the Bank shall provide the Officer (and the Officer’s
                heirs, executors, and administrators) with coverage under a directors'
                and
                officers' liability policy at the expense of the Bank, at least equivalent
                to such coverage provided to directors and senior officers of the
                Bank.

            

    

    

    13.    Reimbursement
      of Officer's Expenses to Enforce this Agreement.
      Bank
      shall reimburse the Officer for all out-of-pocket expenses, including, without
      limitation, reasonable attorney's fees, incurred by the Officer in connection
      with successful enforcement by the Officer of the obligations of the Bank to
      the
      Officer under this Agreement. Successful enforcement shall mean the grant of
      an
      award of money or the requirement that the Bank take some action specified
      by
      this Agreement (i) as a result of court order; (ii) a negotiated settlement;
      or
      (ii) otherwise the Bank following an initial failure of the Bank to pay such
      money or take such action promptly after written demand therefore from the
      Officer stating the reason that such money or action was due under this
      Agreement at or prior to the time of such demand.

    

    14.    Adjustment
      of Certain Payments and Benefits.
      

    

    
      	 	
              a.

            	
              The
                Bank shall indemnify and hold the Officer harmless from any and all
                loss,
                expense, or liability that the Officer may ever incur under Code
§ 4999,
                or any successor provision, as the result of payments or benefits
                that the
                Officer receives from Bancorp or the Bank or any successor to any
                of its
                interests. The Bank shall have this obligation with respect to any
                excise
                taxes (and any federal, state, and local income taxes on those excise
                taxes) for which the Officer is liable under Code § 4999 (such excise tax,
                together with any such interest and penalties, are hereinafter
                collectively referred to as the “Excise Tax”), or any successor provision,
                pursuant to a tax return on which the Officer reports such excise
                tax
                liability based on a reasonable analysis (that the Officer need not
                file
                with the return) prepared by the Officer’s legal counsel. This paragraph
                shall survive termination or expiration of this Agreement for any
                reason.
                

            

    

    

    
      	 	
              b.

            	
              In
                the event it shall be determined that any payment or distribution
                by the
                Bank to or for the benefit of Officer (whether paid or payable or
                distributed or distributable pursuant to the terms of this Agreement
                or
                otherwise, but determined without regard to any additional payments
                required under this Section 14) would be subject to the Excise Tax,
                then
                the Officer shall be entitled to receive an additional payment (a
                “Gross-Up Payment”) in an amount such that after payment by Officer of all
                taxes (including any interest or penalties imposed with respect to
                such
                taxes), including, without limitation, any income taxes (and any
                interest
                and penalties imposed with respect thereto) and Excise Tax imposed
                upon
                the Gross-Up Payment, Officer retains an amount of the Gross-Up Payment
                equal to the Excise Tax imposed upon the
                Payments.

            

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      	 	
              c.

            	
              All
                payments to the Officer required by Section 14(a) and (b) hereof
                shall be
                made within ten (10) days of the demand by Officer for such payment
                supported by a reasonable analysis prepared by Officer’s legal counsel.
                If, following receipt by Officer of a Gross-Up Payment under this
                Section
                14, it is later determined that the actual amount of Excise Tax incurred
                is greater than originally estimated, then Officer shall be entitled
                to
                receive an additional Gross-Up Payment, consistent with the calculations
                required to be made hereunder. Such additional Gross-Up Payment shall
                be
                made within ten (10) days of the demand by Officer for such payment
                supported by a reasonable analysis prepared by Officer’s legal
                counsel.

            

    

    

    
      	 	
              d.
                

            	
              If,
                after the receipt by Officer of a payment under this Section 14,
                Officer
                becomes entitled to receive any refund of such amounts, Office shall
                promptly file for such refund and repay such amount to Bank promptly
                after
                receipt of same.

            

    

    

    15.    Injunctive
      Relief.
      If
      there is a breach or threatened breach of Section 10.h. of this Agreement or
      the
      prohibitions upon disclosure contained in Section 9.c. of this Agreement, the
      Bank and the Officer agree that there is no adequate remedy at law for such
      breach, and that the Bank each shall be entitled to injunctive relief
      restraining the Officer from such breach or threatened breach, but such relief
      shall not be the exclusive remedy hereunder for such breach. The parties hereto
      likewise agree that the Officer shall be entitled to injunctive relief to
      enforce the obligations of the Bank under Section 11 of this
      Agreement.

    

    16.    Successors
      and Assigns.

    

    
      	 	
              a.
                

            	
              This
                Agreement shall inure to the benefit of and be binding upon any corporate
                or other successor of the Bank which shall acquire, directly or
                indirectly, by merger, con-solidation, purchase or otherwise, all
                or
                substantially all of the assets or stock of Bancorp or the
                Bank.

            

    

    

    
      	 	
              b.
                

            	
              Since
                the Bank is contracting for the unique and personal skills of the
                Officer,
                the Officer’s rights or duties hereunder shall be precluded from
                assignment or delegation without first obtaining the written consent
                of
                the Bank, provided that the Officer is not precluded from delegating
                duties and powers in connection with the fulfillment of his management
                responsibilities specified in Section 1,
                hereof.

            

    

    

    17.    No
      Mitigation.
      The
      Officer shall not be required to mitigate the amount of any payment provided
      for
      in this Agreement by seeking other employment or otherwise and no such payment
      shall be offset or reduced by the amount of any compensation or benefits
      provided to the Officer in any subsequent employment.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    18.    Notices.
      All
      notices, requests, demands and other communications in connection with this
      Agreement shall be made in writing and shall be deemed to have been given when
      delivered by hand or 48 hours after mailing at any general or branch United
      States Post Office, by registered or certified mail, postage prepaid, addressed
      as follows, or to such other address as shall have been designated in writing
      by
      the addressee:

    

    
      	 	
              a.

            	
              If
                to Bancorp and the Bank:

            

    

    Sandy
      Spring Bancorp, Inc.

    
      	 	
               

            	
              17801
                Georgia Avenue

            

    

    
      	 	
               

            	
              Olney,
                Maryland 20832

            

    

    Attention:
      R.E. Kuykendall, General Counsel

    

    b.    If
      to the
      Officer:

    
      	 	 	
              Daniel
                J. Schrider

            

    

    
      	 	 	
              6289
                Twin Ponds Lane

            

    

    
      	 	 	
              Mt.
                Airy, MD 21771

            

    

     

    19.    Joint
      and Several Liability; Payments by the Bank.
      To the
      extent permitted by law, except as otherwise provided herein, Bancorp and the
      Bank shall be jointly and severally liable for the payment of all amounts due
      under this Agreement. Bancorp hereby agrees that it shall be jointly and
      severally liable with Bank for the payment of all amounts due under this
      Agreement and shall guarantee the performance of Bank’s obligations there under,
      provided that Bancorp shall not be required by this Agreement to pay to the
      Officer a salary or any bonuses or any other cash payments, except in the event
      that Bank does not fulfill the obligations to the Officer hereunder for such
      payments. 

    

    20.    No
      Plan Created by this Agreement.
      The
      Officer and the Bank expressly declare and agree that this Agreement was
      negotiated among them and that no provision or provisions of this Agreement
      are
      intended to, or shall be deemed to, create any plan for purposes of the Employee
      Retirement Income Security Act or any other law or regulation, and the Bank
      and
      the Officer each expressly waives any right to assert the contrary. Any
      assertion in any judicial or administrative filing, hearing, or process by
      or on
      behalf of the Officer or the Bank that such a plan was so created by this
      Agreement shall be deemed a material breach of this Agreement by the party
      making such an assertion. 

    

    21.    Amendments.
      No
      amendments or additions to this Agreement shall be binding unless made in
      writing and signed by all of the parties, except as herein otherwise
      specifically provided.

    

    22.    Applicable
      Law.
      Except
      to the extent preempted by Federal law, the laws of the State of Maryland shall
      govern this Agreement in all respects, whether as to its validity,
      construc-tion, capacity, perfor-mance or otherwise.

    

    23.    Severability.
      The
      provisions of this Agreement shall be deemed severable and the invalidity or
      unenforceability of any provision shall not affect the validity or
      enforceability of the other provisions hereof.

    

    24.    Headings.
      Headings contained herein are for convenience of reference only.

    

    25.    Entire
      Agreement.
      This
      Agreement, together with any under-standing or modifications thereof as agreed
      to in writing by the parties, shall constitute the entire agreement among the
      parties hereto with respect to the subject matter hereof, other than written
      agreements with respect to specific plans, programs, or arrangements described
      in Sections 5 and 6, and supersedes all prior agreements other than with respect
      to such specific plans, programs, or arrangements provided.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Agreement on the date first set forth
      above.

     

     

    
      	 	
              SANDY
                SPRING BANCORP, INC.

               

              By:
                /s/ Hunter R.
                Hollar                                               
                

              Hunter
                R. Hollar

              Chief
                Executive Officer

              

               

              SANDY
                SPRING BANK

               

              By:
                /s/ Hunter R.
                Hollar                                               

              Hunter
                R. Hollar

              Chief
                Executive Officer

              

               

              OFFICER

              

              /s/
                Daniel J.
                Schrider                                                     
                

              Daniel
                J. Schrider

            

    

     

    
      
        
        

      

      
        14MANDALAY
      MEDIA, INC.

    SECOND
      AMENDMENT 

    TO
      

    2007
      EMPLOYEE, DIRECTOR AND CONSULTANT STOCK PLAN

    

    This
      Second Amendment (the “Second Amendment”) to the Mandalay Media, Inc. (the
“Company”) 2007 Employee, Director and Consultant Stock Plan, as amended on
      February 12, 2008 (the “Plan”), is hereby effective as of March 7, 2008.
      Capitalized terms used in this Amendment and not otherwise defined herein shall
      have the meanings ascribed to them in the Plan.

    

    WHEREAS,
      the
      Company enacted the Plan in accordance with the purposes set forth
      therein;

    

    WHEREAS,
      Section
      31 of the Plan reserves to the Company’s board of directors (the “Board”) the
      power in its discretion to amend the Plan at any time and from time to time
      subject to applicable law and the rights of the Participants on the date of
      such
      action; and

    

    WHEREAS,
      the
      Board
      deems it appropriate to amend the Plan to increase the maximum number of Shares
      with respect to which Stock Rights may be granted to any Participant in any
      fiscal year from six hundred thousand (600,000) to one million one hundred
      thousand (1,100,000). 

    

    NOW,
      THEREFORE,
      the Plan
      is hereby amended as set forth below:

    

    1. Section
      4(c) of the Plan is hereby amended by deleting “600,000” from the third line
      thereof and inserting “1,100,000” in its place. 

    

    2. The
      Plan
      shall remain in full force and effect except as specifically amended
      herein.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}]]