Document:

EX-10.24

 EXHIBIT 10.24 

ADDENDUM A 

THE CORTLAND SAVINGS AND BANKING COMPANY 

FIFTH AMENDED SPLIT DOLLAR AGREEMENT AND
ENDORSEMENT 
 This FIFTH AMENDED SPLIT DOLLAR
AGREEMENT AND ENDORSEMENT (this “Agreement”) is entered into as of this                  day of
                , 2018, by and between The Cortland Savings and Banking Company, an Ohio-chartered commercial bank (the “Bank”), and Timothy Carney, Executive
Vice President and Chief Operating Officer of the Bank (the “Executive”). This Agreement shall append the Split Dollar Policy Endorsement entered into on even date herewith or as subsequently amended, by and between the aforementioned
parties. 
 WHEREAS, to encourage the Executive to remain a Bank employee, the Bank and the Executive
entered into a Fourth Amended Split Dollar Agreement and Endorsement dated as of April 19, 2011, providing for division of the death proceeds of a life insurance policy or policies on the Executive’s life, 

WHEREAS, the Bank and the Executive entered into an Eighth Amended Salary Continuation Agreement dated as
of December             , 2018, providing for specified retirement benefits and amending and restating in its entirety the Seventh Amended Salary Continuation Agreement, which was dated as
of November 24, 2015, and 
 WHEREAS, the Bank and the Executive intend that this Fifth Amended
Split Dollar Agreement and Endorsement shall be attached as Addendum A to the Eighth Amended Salary Continuation Agreement, amending and restating in its entirety the Fourth Amended Split Dollar Agreement and Endorsement. 

NOW THEREFORE, in consideration of the foregoing premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

ARTICLE 1 

DEFINITIONS 

Capitalized terms not otherwise defined in this Agreement are used herein as defined in the Eighth Amended Salary Continuation Agreement dated
as of December             , 2018, between the Bank and the Executive. The following terms shall have the meanings specified. 

1.1 Administrator means the administrator described in Article 7. 

1.2 Executive’s Interest means the benefit set forth in section 2.2. 

1.3 Insured means the Executive. 

1.4 Insurer means each life insurance carrier for which there is a Split Dollar Policy Endorsement attached to this Agreement.

 1.5 Net Death Proceeds means the total death proceeds of the Policy minus the cash surrender value. 

 1.6 Policy means the specific life insurance policy or policies issued by the
Insurer(s). 
 1.7 Salary Continuation Agreement means the Eighth Amended Salary Continuation Agreement dated as of December
            , 2018, between the Bank and the Executive, as the same may hereafter be amended. 

1.8 Separation from Service means separation from service as defined in Internal Revenue Code section
409A and rules, regulations, and guidance of general application thereunder issued by the Department of the Treasury, including termination for any reason of the Executive’s service as an executive and independent contractor to the Bank and any
member of a controlled group, as defined in Code section 414, other than because of leave of absence approved by the Bank or the Executive’s death. 

1.9 Split Dollar Policy Endorsement means the form required by the Administrator or the Insurer to indicate the Executive’s
interest, if any, in a Policy on such Executive’s life. 
 ARTICLE 2 

POLICY OWNERSHIP/INTERESTS 

2.1 Bank Ownership. The Bank is the sole owner of the Policy and shall have the right to exercise all incidents of ownership.
The Bank shall be the beneficiary of the remaining death proceeds of the Policy after the Executive’s interest is paid according to section 2.2 below. 

2.2 Death Benefit. Provided the Executive’s death occurs both before the Executive’s Separation from Service and before
the Executive attains age 60, at the Executive’s death the Executive’s beneficiary designated in accordance with the Split Dollar Policy Endorsement shall be entitled to Policy proceeds in an amount equal to the lesser of (x) 100% of the
Net Death Proceeds or (y) $1,147,374 (the lesser of the amounts specified in clauses (x) and (y) being referred to in this Agreement as the “Executive’s Interest”). The Executive’s Interest shall be extinguished at the
earliest of the date of the Executive’s Separation from Service, the date the Executive attains age 60, or the date on which the Executive receives payment of the benefit provided under the Salary Continuation Agreement for a Change in Control,
and the Executive’s beneficiary shall be entitled to no benefits under the Agreement of the Executive’s death occurring thereafter. The Executive shall have the right to designate the beneficiary of the Executive’s Interest. 

2.3 Option to Purchase. Upon termination of this Agreement, the Bank shall not sell, surrender, or transfer ownership of the
Policy without first giving the Executive or the Executive’s transferee the option to purchase the Policy for a period of 60 days from written notice of such intention. The purchase price shall be an amount equal to the cash surrender value of
the Policy. 
 2.4 Comparable Coverage. The Bank may replace the Policy with a comparable insurance policy to cover the benefit
provided under this Agreement, in which case the Bank and the Executive shall execute a new Split Dollar Policy Endorsement for the comparable insurance policy. 

2.5 Internal Revenue Code Section 1035 Exchanges. The Executive recognizes and agrees that the Bank may after
this Agreement is adopted wish to exchange the Policy of life insurance on the Executive’s life for another contract of life insurance insuring the Executive’s life. Provided that the Policy is replaced (or intended to be replaced) with a
comparable policy of life insurance, the Executive agrees to provide medical information and cooperate with medical insurance-related testing required by a prospective insurer for implementing the Policy or, if necessary, for modifying or updating
to a comparable insurer. 

 ARTICLE 3 

PREMIUMS 

3.1 Premium Payment. The Bank shall pay any premiums due on the Policy. 

3.2 Economic Benefit. The Administrator shall annually determine the economic benefit attributable to the Executive based on the
life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published
pursuant to Treasury Reg. section 1.61-22(d)(3)(ii) or any subsequent authority. 
 3.3
Imputed Income. The Bank shall impute the economic benefit to the Executive on an annual basis by adding the economic benefit to the Executive’s W-2, or if applicable, Form 1099. 

ARTICLE 4 

ASSIGNMENT 

The Executive may irrevocably assign without consideration all of the Executive’s interest in the Policy and in this Agreement to any
person, entity, or trust established by the Executive or the Executive’s spouse. If the Executive transfers all of the Executive’s interest in the Policy, all of the Executive’s interest in the Policy and in the Agreement shall be
vested in the Executive’s transferee, who shall be substituted as a party hereunder and the Executive shall have no further interest in this Agreement. 

ARTICLE 5 

INSURER 

The Insurer shall be bound by the terms of the Policy only. Any payments the Insurer makes or actions it takes in accordance with the Policy
shall fully discharge it from all claims, suits, and demands of all entities or persons. The Insurer shall not be bound by or be deemed to have notice of the provisions of this Agreement. 

ARTICLE 6 

CLAIMS AND REVIEW PROCEDURES 

6.1 Claims Procedure. The Bank will notify any person or entity that makes a claim for benefits under this Agreement (the
“claimant”) in writing, within 90 days after receiving claimant’s written application for benefits, of his or her eligibility or noneligibility for benefits under the Agreement. If the Administrator determines that the claimant is not
eligible for benefits or full benefits, the notice will state (w) the specific reasons for denial, (x) a specific reference to the provisions of the Agreement on which the denial is based, (y) a description of any
additional information or material necessary for the claimant to perfect his or her claim, and a description of why it is needed, and (z) an explanation of the Agreement’s claims review procedure and other appropriate information
concerning steps to be taken if the claimant wishes to have the claim reviewed. If the Administrator determines that there are special circumstances requiring additional time to make a decision, the Bank will notify the claimant of the special
circumstances and the date by which a decision is expected to be made, and may extend the time for up to an additional 90 days. 

 6.2 Review Procedure. If the claimant is determined by the Administrator not
to be eligible for benefits, or if the claimant believes that he or she is entitled to greater or different benefits, the claimant will have the opportunity to have his or her claim reviewed by the Bank by filing a petition for review with the Bank
within 60 days after receipt of the notice issued by the Bank. The claimant’s petition must state the specific reasons the claimant believes entitle him or her to benefits or to greater or different benefits. Within 60 days after receipt by the
Bank of the petition, the Administrator will give the claimant (and counsel, if any) an opportunity to present his or her position verbally or in writing, and the claimant (or counsel) will have the right to review the pertinent documents. The
Administrator will notify the claimant of the Administrator’s decision in writing within the 60-day period, stating specifically the basis of its decision, written in a manner to be understood by the
claimant, and the specific provisions of the Agreement on which the decision is based. If, because of the need for a hearing, the 60-day period is not sufficient, the decision may be deferred for up to another
60 days at the election of the Administrator, but notice of this deferral will be given to the claimant. 
 ARTICLE 7

 ADMINISTRATION OF AGREEMENT 

7.1 Administrator Duties. This Agreement shall be administered by an Administrator, which shall consist of the Board or such
committee as the Board shall appoint. The Executive may not be a member of the Administrator. The Administrator shall have the discretion and authority to (x) make, amend, interpret, and enforce all appropriate rules and regulations for
the administration of this Agreement and (y) decide or resolve any and all questions that may arise, including interpretations of this Agreement. 

7.2 Agents. In the administration of this Agreement, the Administrator may employ agents and delegate to them such administrative
duties as the Administrator sees fit (including acting through a duly appointed representative) and may from time to time consult with counsel, who may be counsel to the Bank. 

7.3 Binding Effect of Decisions. The decision or action of the Administrator concerning any question arising out of the
administration, interpretation, and application of this Agreement and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in the Agreement. 

7.4 Indemnity of Administrator. The Bank shall indemnify and hold harmless the members of the Administrator against any and all
claims, losses, damages, expenses, or liabilities arising from any action or failure to act with respect to this Agreement, except in the case of willful misconduct by the Administrator or any of its members. 

7.5 Information. To enable the Administrator to perform its functions, the Bank shall supply full and timely information to the
Administrator on all matters relating to the date and circumstances of the retirement, death, or Separation from Service of the Executive, and such other pertinent information as the Administrator may reasonably require. 

 ARTICLE 8 

MISCELLANEOUS 

8.1 Amendment and Termination of Agreement. This Agreement may be amended or terminated solely by a written agreement signed by
the Bank and the Executive. However, this Agreement shall terminate upon the first to occur of (u) payment to the Executive of the benefit provided under the Salary Continuation Agreement for a Change in Control, or
(v) surrender, lapse, or other termination of the Policy by the Bank, or (w) distribution of the death benefit proceeds in accordance with section 2.2 above, or (x) termination of the Salary Continuation Agreement
under Article 5 of the Salary Continuation Agreement, or (y) the Executive’s Separation from Service, or (z) the date the Executive attains age 60. 

8.2 Binding Effect. This Agreement shall bind the Executive and the Bank and their beneficiaries, survivors, executors,
administrators, and transferees, and any Policy beneficiary. 
 8.3 No Guarantee of Employment. This Agreement is not an
employment policy or contract. This Agreement does not give the Executive the right to remain an employee of the Bank nor does it interfere with the Bank’s right to discharge the Executive. This Agreement also does not require the Executive to
remain an employee or interfere with the Executive’s right to terminate employment at any time. 
 8.4 Successors;
Binding Agreement. By an assumption agreement in form and substance satisfactory to the Executive, the Bank shall require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all
of the business or assets of the Bank to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Bank would be required to perform this Agreement had no succession occurred. 

8.5 Applicable Law. This Agreement and all rights hereunder shall be governed by and construed according to the laws of the State
of Ohio, except to the extent preempted by the laws of the United States of America. 
 8.6 Entire Agreement. This Agreement
and the Salary Continuation Agreement constitute the entire agreement between the Bank and the Executive concerning the subject matter. No rights are granted to the Executive under this Agreement other than those specifically set forth. This
Agreement amends and restates in its entirety the April 19, 2011 Fourth Amended Split Dollar Agreement and Endorsement. 
 8.7
Severability. If any provision of this Agreement is held invalid, such invalidity shall not affect any other provision of this Agreement not held invalid, and each such other provision shall continue in full force and effect to the full
extent consistent with law. If any provision of this Agreement is held invalid in part, such invalidity shall not affect the remainder of the provision not held invalid, and the remainder of the provision together with all other provisions of this
Agreement shall continue in full force and effect to the full extent consistent with law. 
 8.8 Headings. Caption headings and
subheadings herein are included solely for convenience of reference and shall not affect the meaning or interpretation of any provision of this Agreement. 

 8.9 Notices. All notices, requests, demands and other communications hereunder
shall be in writing and shall be deemed to have been duly given if delivered by hand or mailed, certified or registered mail, return receipt requested, with postage prepaid, to the following addresses or to such other address as either party may
designate by like notice. If to the Bank, notice shall be given to the board of directors, The Cortland Savings and Banking Company, 194 W. Main Street, P.O. Box 98, Cortland, Ohio 44410-1466, or to such other or additional person or persons as the
Bank shall have designated to the Executive in writing. If to the Executive, notice shall be given to the Executive at the Executive’s address appearing on the Bank’s records, or to such other or additional person or persons as the
Executive shall have designated to the Bank in writing. 
 IN WITNESS
WHEREOF, the Executive and a duly authorized representative of the Bank have executed this Agreement as of the date first written above. 
  

							
	EXECUTIVE:	 		  	BANK:
		 		  	The Cortland Savings and Banking Company
				
		 	        	  	By:	  	  

	Timothy Carney	 		  		  	James M. Gasior
		 		  	Title:	  	President and Chief Executive Officer

 AGREEMENT TO COOPERATE WITH INSURANCE
UNDERWRITING INCIDENT TO INTERNAL REVENUE CODE SECTION 1035 EXCHANGE 

I acknowledge that I have read the Fifth Amended Split Dollar Agreement and Endorsement and agree to be bound by its terms, particularly the
covenant on my part set forth in section 2.5 of the Fifth Amended Split Dollar Agreement and Endorsement to provide medical information and cooperate with medical insurance-related testing required by an insurer to issue a comparable insurance
policy to cover the benefit provided under this Fifth Amended Split Dollar Agreement and Endorsement. 
  

					
	  
 Witness
	 	                        	 	Timothy Carney

 SPLIT DOLLAR POLICY
ENDORSEMENT 
 Insured: Timothy Carney 

Insurer: 
 Policy No. 

According to the terms of The Cortland Savings and Banking Company Fifth Amended Split Dollar Agreement and Endorsement dated as of
                         , 2018, the undersigned Owner requests that the above-referenced policy issued by the Insurer provide
for the following beneficiary designation and limited contract ownership rights to the Insured: 
 1. Upon the death of the Insured, proceeds
shall be paid in one sum to the Owner, its successors or assigns, to the extent of the Owner’s interest in the policy. It is hereby provided that the Insurer may rely solely upon a statement from the Owner concerning the amount of proceeds the
Owner is entitled to receive under this paragraph. 
 2. Any proceeds at the death of the Insured in excess of the amount paid under the
provisions of the preceding paragraph shall be paid in one sum to: 
  
  

PRIMARY BENEFICIARY, RELATIONSHIP/SOCIAL SECURITY
NUMBER 
  
  

CONTINGENT BENEFICIARY, RELATIONSHIP/SOCIAL SECURITY
NUMBER 
 The exclusive rights to change the beneficiary for the proceeds payable under this paragraph and to assign all
rights and interests granted under this paragraph are hereby granted to the Insured. The sole signature of the Insured shall be sufficient to exercise the rights. The Owner retains all contract rights not granted to the Insured under this paragraph.

 3. It is agreed by the undersigned that this designation and limited assignment of rights shall be subject in all respects to the
contractual terms of the policy. 
 4. Any payment directed by the Owner under this endorsement shall be a full discharge of the Insurer, and
such discharge shall be binding on all parties claiming any interest under the policy. 
 The undersigned for the Owner is signing in a
representative capacity and warrants that he or she has the authority to bind the entity on whose behalf this document is executed. 

Signed at
                                , Ohio
this         day
of                                     , 2018. 

 

							
	INSURED:	  		  	OWNER:
		  	        	  	The Cortland Savings and Banking Company
				
	  
	  		  	By:	  	
	Timothy Carney	  		  	Its:	  	

 SPLIT DOLLAR POLICY
ENDORSEMENT 
 Insured: Timothy Carney 

Insurer: 
 Policy No. 

According to the terms of The Cortland Savings and Banking Company Fifth Amended Split Dollar Agreement and Endorsement dated as of
                                 , 2018, the undersigned Owner requests that the
above-referenced policy issued by the Insurer provide for the following beneficiary designation and limited contract ownership rights to the Insured: 

1. Upon the death of the Insured, proceeds shall be paid in one sum to the Owner, its successors or assigns, to the extent of the Owner’s
interest in the policy. It is hereby provided that the Insurer may rely solely upon a statement from the Owner concerning the amount of proceeds the Owner is entitled to receive under this paragraph. 

2. Any proceeds at the death of the Insured in excess of the amount paid under the provisions of the preceding paragraph shall be paid in one
sum to: 
  
  

PRIMARY BENEFICIARY, RELATIONSHIP/SOCIAL SECURITY
NUMBER 
  
  

CONTINGENT BENEFICIARY, RELATIONSHIP/SOCIAL SECURITY
NUMBER 
 The exclusive rights to change the beneficiary for the proceeds payable under this paragraph and to assign all
rights and interests granted under this paragraph are hereby granted to the Insured. The sole signature of the Insured shall be sufficient to exercise the rights. The Owner retains all contract rights not granted to the Insured under this paragraph.

 3. It is agreed by the undersigned that this designation and limited assignment of rights shall be subject in all respects to the
contractual terms of the policy. 
 4. Any payment directed by the Owner under this endorsement shall be a full discharge of the Insurer, and
such discharge shall be binding on all parties claiming any interest under the policy. 
 The undersigned for the Owner is signing in a
representative capacity and warrants that he or she has the authority to bind the entity on whose behalf this document is executed. 

Signed at
                                    , Ohio
this         day
of                                 , 2018. 

 

							
	INSURED:	  		  	OWNER:
		  	        	  	The Cortland Savings and Banking Company
				
	  
	  		  	By:	  	
	Timothy Carney	  		  	Its:EX-10.25

 EXHIBIT 10.25 

THE CORTLAND SAVINGS AND BANKING COMPANY 

AMENDED SALARY CONTINUATION AGREEMENT 

This AMENDED SALARY CONTINUATION AGREEMENT (this
“Agreement”) is entered into as of                     , 2018, by and between The Cortland Savings and Banking Company (the
“Bank”), an Ohio-chartered, FDIC-insured member bank, and Stanley P. Feret, Senior Vice President and Chief Lending Officer of the Bank (the “Executive”). 

WHEREAS, the Executive has contributed substantially to the success of the Bank and its parent company,
Cortland Bancorp, an Ohio corporation, and the Bank desires that the Executive continue in its employ, 

WHEREAS, to encourage the Executive to remain an employee, the Bank is willing to provide to the
Executive salary continuation benefits payable from the Bank’s general assets, 
 WHEREAS, as of
the date of this Agreement none of the conditions or events included in the definition of the term “golden parachute payment” that is set forth in section 18(k)(4)(A)(ii) of the Federal Deposit Insurance Act [12 U.S.C. 1828(k)(4)(A)(ii)]
and in Federal Deposit Insurance Corporation Rule 359.1(f)(1)(ii) [12 CFR 359.1(f)(1)(ii)] exists or, to the best knowledge of the Bank, is contemplated insofar as the Bank is concerned, 

WHEREAS, the Bank and the Executive intend that this Agreement amend and restate in its entirety the
June 1, 2010 Salary Continuation Agreement between the Executive and the Bank, and 
 WHEREAS, the
parties hereto intend that this Agreement be considered an unfunded arrangement maintained primarily to provide supplemental retirement benefits for the Executive, and to be considered a non-qualified benefit
plan for purposes of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Executive is fully advised of the Bank’s financial status. 

NOW THEREFORE, in consideration of the foregoing premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows. 

ARTICLE 1 

DEFINITIONS 

1.1 “Accrual Balance” means the liability that should be accrued by the Bank under generally accepted accounting
principles (“GAAP”) for the Bank’s obligation to the Executive under this Agreement, applying Financial Accounting Standards Board ASC 710-10-30 (formerly
known as Accounting Principles Board Opinion No. 12, as amended by Statement of Financial Accounting Standards No. 106), and the calculation method and discount rate specified hereinafter. The Accrual Balance is calculated such that when
it is credited with interest each month the Accrual Balance at Normal Retirement Age equals the present value of the normal retirement benefits. The discount rate means the rate used by the Plan Administrator for determining the Accrual Balance. In
its sole discretion the Plan Administrator may adjust the discount rate to maintain the rate within reasonable standards according to GAAP. 

 1.2 “Beneficiary” means each designated person, or the estate of the
deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4. 
 1.3
“Beneficiary Designation Form” means the form established from time to time by the Plan Administrator that the Executive completes, signs, and returns to the Plan Administrator to designate one or more Beneficiaries. 

1.4 “Change in Control” means a change in control as defined in Internal Revenue Code section 409A and rules,
regulations, and guidance of general application thereunder issued by the Department of the Treasury, including a change in ownership, a change in effective control, or change in ownership of a substantial portion of assets. 

1.5 “Code” means the Internal Revenue Code of 1986, as amended, and rules, regulations, and guidance of general
application issued by the Department of the Treasury under the Internal Revenue Code of 1986, as amended. 
 1.6
“Disability” means, because of a medically determinable physical or mental impairment that can be expected to result in death or that can be expected to last for a continuous period of at least 12 months, (x) the
Executive is unable to engage in any substantial gainful activity, or (y) the Executive is receiving income replacement benefits for a period of at least three months under an accident and health plan of the employer. Medical
determination of disability may be made either by the Social Security Administration or by the provider of an accident or health plan covering employees of the Bank. Upon request of the Plan Administrator, the Executive must submit proof to the Plan
Administrator of the Social Security Administration’s or provider’s determination. 
 1.7 “Early
Termination” means Separation from Service before Normal Retirement Age for reasons other than death, Disability, or Termination with Cause. Early Termination excludes a Separation from Service governed by section 2.4. 

1.8 “Effective Date” means June 1, 2010. 

1.9 “Intentional,” for purposes of this Agreement, no act or failure to act on the part of the Executive will be
considered intentional if it is due primarily to an error in judgment or negligence. An act or failure to act on the Executive’s part is intentional if it is not in good faith and if it is without a reasonable belief that the action or failure
to act is in the Bank’s best interests. 
 1.10 “Normal Retirement Age” means age 65. 

1.11 “Plan Administrator” or “Administrator” means the plan administrator described in Article 7. 

1.12 “Plan Year” means a twelve-month period commencing on March 1 and ending on the last day of February of each
year. The initial Plan Year commenced on the Effective Date. 

 1.13 “Separation from Service” means separation from service as
defined in Internal Revenue Code section 409A and rules, regulations, and guidance of general application thereunder issued by the Department of the Treasury, including termination for any reason of the Executive’s service as an executive and
independent contractor to the Bank and any member of a controlled group, as defined in Code section 414, other than because of a leave of absence approved by the Bank or the Executive’s death. For purposes of this Agreement, if there is a
dispute about the employment status of the Executive or the date of the Executive’s Separation from Service, the Bank has the sole and absolute right to decide the dispute, unless a Change in Control has occurred. 

1.14 “Termination with Cause” and “Cause” have the same meaning specified in any effective severance
or employment agreement existing on the date hereof or hereafter entered into between the Executive and the Bank. If the Executive is not a party to a severance or employment agreement containing a definition of termination with cause, Termination
with Cause means the Bank terminates the Executive’s employment because of – 
 (a) gross negligence or gross neglect of duties or
intentional and material failure to perform stated duties after written notice thereof, or 
 (b) disloyalty or dishonesty in the performance
of duties, or a breach of fiduciary duties for personal profit, in any case whether in the Executive’s capacity as a director or officer, or 

(c) intentional wrongful damage to the business or property of the Bank or its affiliates, including without limitation the reputation of the
Bank, which in the judgement of the Bank causes material harm to the Bank or affiliates, or 
 (d) willful violation of any applicable law or
significant policy of the Bank or an affiliate that, in the Bank’s judgement, results in an adverse effect on the Bank or the affiliate, regardless of whether the violation leads to criminal prosecution or conviction. For purposes of this
Agreement applicable laws include any statute, rule, regulatory order, statement of policy, or final cease-and-desist order of any governmental agency or body having
regulatory authority over the Bank, or 
 (e) occurrence of any event that results in the Executive being excluded from coverage, or having
coverage limited for the Executive as compared to other executives of the Bank, under the Bank’s blanket bond or other fidelity or insurance policy covering its directors, officers, or employees, or 

(f) the Executive is removed from office or permanently prohibited from participating in the Bank’s affairs by an order issued under
section 8(e)(4) or section 8(g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. 1818(e)(4) or (g)(1), or 
 (g) conviction of or plea of
no contest to a felony or conviction of or plea of no contest to a misdemeanor involving moral turpitude, or the actual incarceration of the Executive for 45 consecutive days or more. 

 1.15 “Voluntary Termination with Good Reason” means a voluntary
Separation from Service by the Executive if the following conditions (x) and (y) are satisfied: (x) a voluntary Separation from Service by the Executive will be considered a Voluntary Termination with Good Reason if
any of the following occur without the Executive’s advance written consent – 
 1) a material diminution of the Executive’s
base salary, 
 2) a material diminution of the Executive’s authority, duties, or responsibilities, 

3) a material diminution in the authority, duties, or responsibilities of the supervisor to whom the Executive is required to report, 

4) a material diminution in the budget over which the Executive retains authority, 

5) a material change in the geographic location at which the Executive must perform services for the Bank, or 

6) any other action or inaction that constitutes a material breach by the Bank of the agreement under which the Executive provides services to
the Bank. 
 (y) the Executive must give notice to the Bank of the existence of one or more of the conditions described in clause
(x) within 90 days after the initial existence of the condition, and the Bank has 30 days thereafter to remedy the condition. In addition, the Executive’s voluntary termination because of the existence of one or more of the
conditions described in clause (x) must occur within 24 months after the initial existence of the condition. 

ARTICLE 2 

LIFETIME BENEFITS 

2.1 Normal Retirement. Unless Separation from Service occurs before Normal Retirement Age, when the Executive attains Normal
Retirement Age the Bank will pay to the Executive the benefit described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service thereafter is a Termination with Cause or if this
Agreement terminates under Article 5, no further benefits will be paid. 
  

	 	2.1.1	 Amount of benefit. The annual benefit under this section 2.1 is $92,000. 

 

	 	2.1.2	 Payment of benefit. Beginning with the month immediately after the month in which the Executive attains
Normal Retirement Age, the Bank will pay the benefit under this section 2.1 to the Executive in equal monthly installments on the last day of each month. The benefit will be paid to the Executive for 180 months. 

2.2 Early Termination. For Early Termination the Bank will pay to the Executive the benefit described in this section 2.2 instead
of any other benefit under this Agreement. Neither the Bank nor the Executive is entitled to elect in the 24-month period after a Change in Control between the benefit under this section 2.2 versus the benefit
under section 2.4. If the Executive’s Separation from Service within 24 months after a Change in Control is an involuntary termination without Cause or a Voluntary Termination with Good Reason, no benefit is payable under this section 2.2 and
the Executive is instead entitled to the benefit under section 2.4 or, if the Executive first attained Normal Retirement Age, section 2.1. No benefit is payable under this Agreement if the Executive’s Separation from Service is a Termination
with Cause or if this Agreement terminates under Article 5. 
  

	 	2.2.1	 Amount of benefit. The annual benefit under this section 2.2 is calculated as the amount that fully
amortizes the Accrual Balance existing at the end of the month immediately before the month in which Separation from Service occurs, amortizing that Accrual Balance over 15 years and taking into account interest at the discount rate or rates
established by the Plan Administrator. 

	 	2.2.2	 Payment of benefit. The Bank will pay the annual benefit to the Executive in equal monthly installments
on the last day of each month, except that the first six monthly installments after the Executive’s Separation from Service will not be paid to the Executive until the seventh month after the month in which Separation from Service occurs. In
the seventh month after the month in which Separation from Service occurs the Executive is entitled to the first six monthly installments and the regular monthly installment for the seventh month. The Executive is entitled to a total of 180 monthly
installments, including the first six installments that are paid in the seventh month. 

 2.3 Disability. For
Separation from Service because of Disability before Normal Retirement Age, the Bank will pay to the Executive the benefit described in this section 2.3 instead of any other benefit under this Agreement. 

 

	 	2.3.1	 Amount of benefit. The annual benefit under this section 2.3 is calculated as the amount that fully
amortizes the Accrual Balance existing at the end of the month immediately before the month in which Separation from Service occurs, amortizing that Accrual Balance over 15 years and taking into account interest at the discount rate or rates
established by the Plan Administrator. 

  

	 	2.3.2	 Payment of benefit. Beginning with the later of (x) the seventh month after the month in
which the Executive’s Separation from Service occurs, or (y) the month immediately after the month in which the Executive attains Normal Retirement Age, the Bank will pay the annual benefit to the Executive in equal monthly
installments on the last day of each month. If the benefit is paid under clause (x) in the seventh month after Separation from Service, the first six monthly installments after Separation from Service will not be paid to the Executive
until the seventh month after the month in which Separation from Service occurs. In the seventh month the Executive is entitled to the first six monthly installments and the regular monthly installment for the seventh month. The Executive is
entitled to a total of 180 monthly installments, including the first six installments that are paid in the seventh month. 

2.4 Change in Control. If the Executive’s Separation from Service is an involuntary termination without Cause or a Voluntary
Termination with Good Reason, in either case within 24 months after a Change in Control, the Bank will pay to the Executive the benefit described in this section 2.4 instead of any other benefit under this Agreement. However, no benefit is payable
under this Agreement if the Executive’s employment is terminated under circumstances described in Article 5 of this Agreement. Neither the Bank nor the Executive is entitled to elect in the 24-month
period after a Change in Control between the benefit under this section 2.4 versus the Early Termination benefit under section 2.2. If the Executive’s Separation from Service within 24 months after a Change in Control is an involuntary
termination without Cause or a Voluntary Termination with Good Reason, no benefit is payable under section 2.2 and the Executive is instead entitled to the benefit under this section 2.4. But if the Executive has attained Normal Retirement Age when
Separation from Service within 24 months after a Change in Control occurs, whether Separation from Service is voluntary or involuntary for any reason other than Termination with Cause, the Executive is entitled solely to the benefit provided by
section 2.1, not this section 2.4. 

	 	2.4.1	 Amount of benefit. The benefit under this section 2.4 is the Accrual Balance when Separation from
Service occurs. 

  

	 	2.4.2	 Payment of benefit. The Bank will pay the benefit under this section 2.4 to the Executive in a single
lump sum on the first day of the seventh month after the month in which Separation from Service occurs. 

 2.5 Lump-Sum Payout of Remaining Normal Retirement Benefit, Early Termination Benefit, or Disability Benefit When a Change in Control Occurs. If a Change in Control occurs while the Executive is receiving the Normal
Retirement Age benefit under section 2.1, the Bank will pay the remaining salary continuation benefits to the Executive in a single lump sum three days after the Change in Control. If a Change in Control occurs after Separation from Service but
while the Executive is receiving or is entitled to receive the Early Termination benefit under sections 2.2 or the Disability benefit under section 2.3, the Bank will pay the remaining salary continuation benefits to the Executive in a single lump
sum three days after the later of (x) the Change in Control or (y) the first day of the seventh month after the month in which the Executive’s Separation from Service occurs. The
lump-sum payment due to the Executive as a result of a Change in Control is an amount equal to the Accrual Balance amount corresponding to the particular benefit when the Change in Control occurs. 

2.6 Annual Benefit Statement. Within 120 days after the end of each Plan Year the Plan Administrator will provide or cause to be
provided to the Executive an annual benefit statement showing benefits payable or potentially payable to the Executive under this Agreement. Each annual benefit statement supersedes the previous year’s annual benefit statement. If there is a
contradiction between this Agreement and the annual benefit statement concerning the amount of a particular benefit payable or potentially payable to the Executive under sections 2.2, 2.3, or 2.4 hereof, the amount of the benefit determined under
this Agreement controls. 
 2.7 Savings Clause Relating to Compliance with Code Section 409A. Despite any
contrary provision of this Agreement, if when the Executive’s employment terminates the Executive is a specified employee, as defined in Code section 409A, and if any payments under Article 2 of this Agreement will result in additional tax or
interest to the Executive because of section 409A, the Executive is not entitled to the payments under Article 2 until the earliest of (x) the date that is at least six months after termination of the Executive’s employment for
reasons other than the Executive’s death, (y) the date of the Executive’s death, or (z) any earlier date that does not result in additional tax or interest to the Executive under section 409A. If any provision of
this Agreement would subject the Executive to additional tax or interest under section 409A, the Bank will reform the provision. However, the Bank will maintain to the maximum extent practicable the original intent of the applicable provision
without subjecting the Executive to additional tax or interest, and the Bank is not required to incur any additional compensation expense as a result of the reformed provision. 

2.8 One Benefit Only. Despite anything to the contrary in this Agreement, the Executive and Beneficiary are entitled to one
benefit only under this Agreement, which is determined by the first event to occur that is dealt with by this Agreement. Except as provided in section 2.5 or Article 3, subsequent occurrence of events dealt with by this Agreement does not entitle
the Executive or Beneficiary to other or additional benefits under this Agreement. 

 ARTICLE 3 

DEATH BENEFITS 

Unless the Accrual Balance is paid to the Executive under sections 2.4 or 2.5 after a Change in Control, if at death the Executive is
receiving or entitled to receive benefits under sections 2.1, 2.2, or 2.3 but dies before receiving all 180 monthly benefit payments under sections 2.1, 2.2, or 2.3, at the Executive’s death the Bank will pay to the Executive’s Beneficiary
the Accrual Balance existing at the time of the Executive’s death. If a benefit is payable to the Executive’s Beneficiary, the benefit will be paid in a single lump sum 90 days after the Executive’s death. 

ARTICLE 4 

BENEFICIARIES 

4.1 Beneficiary Designations. The Executive may designate a Beneficiary to receive any benefits payable under this Agreement
after the Executive’s death. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary designation under any other benefit plan of the Bank in which the Executive participates. 

4.2 Beneficiary Designation: Change. The Executive designates a Beneficiary by completing and signing the Beneficiary Designation
Form and delivering it to the Plan Administrator or its designated agent. The Executive’s Beneficiary designation is automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the
marriage is subsequently dissolved. The Executive may change a Beneficiary by completing, signing, and otherwise complying with the terms of the Beneficiary Designation Form and the Plan Administrator’s rules and procedures, as in effect from
time to time. Upon acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed are cancelled. The Plan Administrator is entitled to rely on the last Beneficiary Designation Form filed by
the Executive and accepted by the Plan Administrator before the Executive’s death. 
 4.3 Acknowledgment. No designation
or change in designation of a Beneficiary is effective until received, accepted, and acknowledged in writing by the Plan Administrator or its designated agent. 

4.4 No Beneficiary Designation. If the Executive dies without a valid beneficiary designation or if all designated Beneficiaries
predecease the Executive, the Executive’s spouse is the designated Beneficiary. If the Executive has no surviving spouse, benefit payments will be made to the personal representative of the Executive’s estate. 

4.5 Facility of Payment. If a benefit is payable to a minor, to a person declared incapacitated, or to a person incapable of
handling the disposition of his or her property, the Bank may pay the benefit to the guardian, legal representative, or person having the care or custody of the minor, incapacitated person, or incapable person. The Bank may require proof of
incapacity, minority, or guardianship as it may deem appropriate before distribution of the benefit. Distribution completely discharges the Bank from all liability. 

 ARTICLE 5 

GENERAL LIMITATIONS 

5.1 Termination with Cause. Despite any contrary provision of this Agreement, the Bank will not pay any benefit under this
Agreement and this Agreement terminates if Separation from Service is a Termination with Cause. 
 5.2 Misstatement. No
benefits will be paid under this Agreement if the Executive makes any material misstatement of fact on any application or resume provided to the Bank, on any application for life insurance purchased by the Bank, or on any application for benefits
provided by the Bank. 
 5.3 Removal. If the Executive is removed from office or permanently prohibited from participating in
the Bank’s affairs by an order issued under section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. 1818(e)(4) or (g)(1), all obligations of the Bank under this Agreement terminate as of the effective date of the order. 

5.4 Default. Despite any contrary provision of this Agreement, if the Bank is in “default” or “in danger of
default,” as those terms are defined in section 3(x) of the Federal Deposit Insurance Act, 12 U.S.C. 1813(x), all obligations under this Agreement terminate. 

5.5 FDIC Open-Bank Assistance. All obligations under this Agreement terminate, except to the extent determined that continuation
of the contract is necessary for the continued operation of the Bank, if the Federal Deposit Insurance Corporation enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in section 13(c) of the
Federal Deposit Insurance Act. 12 U.S.C. 1823(c). Any rights of the parties that have already vested are not affected, however. 

ARTICLE 6 

CLAIMS AND REVIEW PROCEDURES 

6.1 Claims Procedure. The Bank will notify any person or entity that makes a claim for benefits under this Agreement (the
“Claimant”) in writing, within 90 days after receiving Claimant’s written application for benefits, of his or her eligibility or noneligibility for benefits under the Agreement. If the Plan Administrator determines that the Claimant
is not eligible for benefits or full benefits, the notice will state (w) the specific reasons for denial, (x) a specific reference to the provisions of the Agreement on which the denial is based, (y) a description
of any additional information or material necessary for the Claimant to perfect his or her claim, and a description of why it is needed, and (z) an explanation of the Agreement’s claims review procedure and other appropriate
information concerning steps to be taken if the Claimant wishes to have the claim reviewed. If the Plan Administrator determines that there are special circumstances requiring additional time to make a decision, the Bank will notify the Claimant of
the special circumstances and the date by which a decision is expected to be made, and may extend the time for up to an additional 90 days. 

 6.2 Review Procedure. If the Claimant is determined by the Plan Administrator
not to be eligible for benefits, or if the Claimant believes that he or she is entitled to greater or different benefits, the Claimant will have the opportunity to have his or her claim reviewed by the Bank by filing a petition for review with the
Bank within 60 days after receipt of the notice issued by the Bank. The Claimant’s petition must state the specific reasons the Claimant believes entitle him or her to benefits or to greater or different benefits. Within 60 days after receipt
by the Bank of the petition, the Plan Administrator will give the Claimant (and counsel, if any) an opportunity to present his or her position verbally or in writing, and the Claimant (or counsel) will have the right to review the pertinent
documents. The Plan Administrator will notify the Claimant of the Plan Administrator’s decision in writing within the 60-day period, stating specifically the basis of its decision, written in a manner to
be understood by the Claimant, and the specific provisions of the Agreement on which the decision is based. If, because of the need for a hearing, the 60-day period is not sufficient, the decision may be
deferred for up to another 60 days at the election of the Plan Administrator, but notice of this deferral will be given to the Claimant. 

ARTICLE 7 

ADMINISTRATION OF AGREEMENT 

7.1 Plan Administrator Duties. This Agreement will be administered by a Plan Administrator consisting of the Board or such
committee or person as the Board appoints. The Executive may not be a member of the Plan Administrator. The Plan Administrator has the discretion and authority (x) to make, amend, interpret, and enforce all appropriate rules and
regulations for the administration of this Agreement and (y) to decide or resolve any and all questions that may arise, including interpretations of this Agreement. 

7.2 Agents. In the administration of this Agreement, the Plan Administrator may employ agents and delegate to them such
administrative duties as it sees fit (including acting through a duly appointed representative) and may from time to time consult with counsel, who may be counsel to the Bank. 

7.3 Binding Effect of Decisions. The decision or action of the Plan Administrator about any question arising out of the
administration, interpretation, and application of the Agreement and the rules and regulations promulgated hereunder is final and conclusive and binding upon all persons having any interest in the Agreement. No Executive or Beneficiary has any
right, vested or nonvested, regarding the continued use of any previously adopted assumptions, including but not limited to the discount rate and calculation method employed in the determination of the Accrual Balance. 

7.4 Indemnity of Plan Administrator. The Bank will indemnify and hold harmless the members of the Plan Administrator against any
and all claims, losses, damages, expenses, or liabilities arising from any action or failure to act regarding this Agreement, except in the case of willful misconduct by the Plan Administrator or any of its members. 

7.5 Bank Information. To enable the Plan Administrator to perform its functions, the Bank will supply full and timely information
to the Plan Administrator on all matters relating to the date and circumstances of the retirement, Disability, death, or Separation from Service of the Executive, and such other pertinent information as the Plan Administrator reasonably requires.

 ARTICLE 8 

MISCELLANEOUS 

8.1 Amendments and Termination. This Agreement may be amended solely by a written agreement signed by the Bank and by the
Executive. This Agreement may be terminated by the Bank without the Executive’s consent. Unless Article 5 provides that the Executive is not entitled to payment or unless when termination occurs the Executive has already received payment of
benefits under this Agreement, the Bank must pay the Accrual Balance in a single lump sum to the Executive if the Bank terminates this Agreement. The lump-sum termination payment will be made to the Executive
on the first day of the thirteenth month after the month in which the Bank terminates this Agreement. 
 8.2 Binding Effect.
This Agreement binds the Executive and the Bank and their beneficiaries, survivors, executors, successors, administrators, and transferees. 

8.3 No Guarantee of Employment. This Agreement is not an employment policy or contract. This Agreement does not give the
Executive the right to remain an employee of the Bank nor does this Agreement interfere with the Bank’s right to discharge the Executive. This Agreement also does not require the Executive to remain an employee or interfere with the
Executive’s right to terminate employment at any time. 
 8.4 Non-Transferability.
Benefits under this Agreement may not be sold, transferred, assigned, pledged, attached, or encumbered. 
 8.5 Successors; Binding
Agreement. By an assumption agreement in form and substance satisfactory to the Executive, the Bank will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the
Bank’s business or assets to expressly assume and agree to perform this Agreement in the same manner and to the same extent the Bank would be required to perform this Agreement had no succession occurred. 

8.6 Tax Withholding. The Bank will withhold any taxes that are required to be withheld from the benefits provided under this
Agreement. 
 8.7 Applicable Law. The Agreement and all rights hereunder are governed by the laws of the State of Ohio, except
to the extent preempted by the laws of the United States of America. 
 8.8 Unfunded Arrangement. The Executive and beneficiary
are general unsecured creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Bank to pay benefits. The rights to benefits are not subject to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive’s life is a general asset of the Bank to which the Executive and beneficiary have no preferred or secured claim. 

 8.9 Entire Agreement. This Agreement constitutes the entire agreement between
the Bank and the Executive concerning the subject matter. No rights are granted to the Executive under this Agreement other than those specifically set forth. This Agreement amends and restates in its entirety the June 1, 2010 Salary
Continuation Agreement. 
 8.10 Severability. If any provision of this Agreement is held invalid, invalidity does not affect
any other provision of this Agreement not held invalid, and to the full extent consistent with law each such other provision continues in full force and effect. If any provision of this Agreement is held invalid in part, invalidity does not affect
the remainder of the provision not held invalid, and to the full extent consistent with law the remainder of the provision, together with all other provisions of this Agreement, continues in full force and effect. 

8.11 Headings. Headings are included herein solely for convenience of reference and do not affect the meaning or interpretation
of any provision of this Agreement. 
 8.12 Notices. All notices, requests, demands and other communications hereunder must be
in writing and will be deemed to have been duly given if delivered by hand or mailed, certified or registered mail, return receipt requested, with postage prepaid, to the following addresses or to such other address as either party may designate by
like notice. If to the Bank, notice must be given to the board of directors, The Cortland Savings and Banking Company, 194 W. Main Street, P.O. Box 98, Cortland, Ohio 44410-1466, or to such other or additional person or persons as the Bank
designates to the Executive in writing. If to the Executive, notice will be given to the Executive at the Executive’s address appearing on the Bank’s records, or to such other or additional person or persons as the Executive designates to
the Bank in writing. 
 8.13 Payment of Legal Fees. The Bank is aware that after a Change in Control management could cause or
attempt to cause the Bank to refuse to comply with its obligations under this Agreement, or could institute or cause or attempt to cause the Bank to institute litigation seeking to have this Agreement declared unenforceable, or could take or attempt
to take other action to deny Executive the benefits intended under this Agreement. In these circumstances the purpose of this Agreement would be frustrated. The Bank desires that the Executive not be required to incur expenses associated with
enforcement of rights under this Agreement, whether by litigation or other legal action, because the cost and expense thereof would substantially detract from the benefits intended to be granted to the Executive hereunder. The Bank desires that the
Executive not be forced to negotiate settlement of rights under this Agreement under threat of incurring expenses. Accordingly, if after a Change in Control it appears to Executive that (x) the Bank has failed to comply with any of its
obligations under this Agreement, or (y) the Bank or any other person has taken any action to declare this Agreement void or unenforceable, or instituted any litigation or other legal action designed to deny, diminish, or recover from
the Executive the benefits intended to be provided to the Executive hereunder, the Bank irrevocably authorizes the Executive to retain counsel of the Executive’s choice, at the Bank’s expense as provided in this section 8.13, to represent
the Executive in the initiation or defense of any litigation or other legal action, whether by or against the Bank or any director, officer, stockholder or other person affiliated with the Bank, in any jurisdiction. Despite any existing or previous
attorney-client relationship between the Bank and any counsel chosen by the Executive under this section 8.13, the Bank irrevocably consents to the Executive entering into an attorney-client relationship with that counsel, and the Bank and the
Executive agree that a confidential relationship exists between the Executive and that counsel. The 

 
fees and expenses of counsel selected by the Executive will be paid or reimbursed to the Executive by the Bank on a regular, periodic basis upon presentation by the Executive of a statement or
statements prepared by counsel in accordance with counsel’s customary practices, regardless of whether suit is brought and regardless of whether incurred in trial, bankruptcy, or appellate proceedings. The Bank’s obligation to pay the
Executive’s legal fees under this section 8.13 operates separately from and in addition to any legal fee reimbursement obligation the Bank or the Bank’s parent Cortland Bancorp may have with the Executive under a severance, employment, or
other agreement. Despite any contrary provision in this Agreement however, the Bank is not required to pay or reimburse the Executive’s legal expenses if doing so violates section 18(k) of the Federal Deposit Insurance Act [12 U.S.C. 1828(k)]
and Rule 359.3 of the Federal Deposit Insurance Corporation [12 CFR 359.3]. 
 8.14 Automatic Review. On the third year
anniversary of the date of this Agreement and every third year thereafter the Bank will automatically review this Agreement for reasonableness of benefits, with the goal that the Executive’s benefit under this Agreement combined with other
Bank-provided benefits equal a reasonable percentage of Executive’s pre-retirement compensation. For purposes of this Agreement, Bank-provided benefits include but are not limited to (x) the
Bank 401(k) match and (y) the Bank portion of Social Security benefits. The term “compensation” as used in this section 8.14 means the base annual salary of the Executive projected at the Executive’s Normal Retirement Age.
Base annual salary means compensation of the type that would, according to the Securities and Exchange Commission’s Regulation S-K Item 402(c) (17 CFR 229.402(c)), be required to be reported by an
accelerated filer as salary in column (c) of that rule’s Summary Compensation Table. The term base annual salary specifically excludes director fees and other director compensation, bonus, option grants and any other compensation that
would be reported in separate columns in the Summary Compensation Table, but it includes salary deferred at the election of the Executive. 

[Signatures are on the following page] 

 IN WITNESS WHEREOF, the
Executive and a duly authorized Bank officer have executed this Amended Salary Continuation Agreement as of the date first written above. 
  

							
	EXECUTIVE:	 		 	BANK:
		 		 	THE CORTLAND SAVINGS AND BANKING COMPANY
				
	  
	 		 	By:	 	  

	Stanley P. Feret	 		 		 	        James M. Gasior
		 		 		 	        Title: President and Chief Executive Officer

 BENEFICIARY DESIGNATION 

THE CORTLAND SAVINGS AND BANKING COMPANY 

AMENDED SALARY CONTINUATION AGREEMENT 

I, Stanley P. Feret, designate the following as beneficiary of any death benefits under this Amended Salary Continuation Agreement: 

Primary: 

                          
                                         
                                         
                                         
                                         
                                  . 

Contingent: 

                          
                                         
                                         
                                         
                                         
                                  . 

Note: To name a trust as beneficiary, please provide the name of the trustee(s) and the exact name and date of the trust agreement.

 I understand that I may change these beneficiary designations by filing a new written designation with the Bank. I further understand
that the designations will be automatically revoked if the beneficiary predeceases me or if I have named my spouse as beneficiary and our marriage is subsequently dissolved. 

 

					
	Signature:	 	  

	Stanley P. Feret	 		 	
			
	Date:	 	  
	 	, 2018      

 Accepted
by the Bank this              day of
                            , 2018. 

            By:
                             

James M. Gasior 

Title:    President and Chief Executive Officer 

  
 14

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