Document:

Tender and Support Agreement, dated as of January 7, 2012

 Exhibit 10.1 
 TENDER AND SUPPORT AGREEMENT 
 This TENDER AND SUPPORT AGREEMENT
(this “Agreement”), dated as of January 7, 2012, is by and among Bristol-Myers Squibb Company, a Delaware corporation (“Parent”), Inta Acquisition Corporation, a Delaware corporation and a wholly
owned subsidiary of Parent (“Sub”), Inhibitex, Inc., a Delaware corporation (the “Company”) and each of the Persons set forth on Schedule A hereto (each, a “Stockholder”). The Company shall
only be a party to this Agreement for purposes of Sections 4.7 through 4.10 and Article V of this Agreement. 
 WHEREAS,
as of the date hereof, each Stockholder (i) is the record and beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of the number of shares of common stock, par value $0.001 per share (“Common Stock”), of the
Company set forth opposite such Stockholder’s name on Schedule A (all such shares set forth on Schedule A, together with any shares of Common Stock of the Company that are hereafter issued to or otherwise acquired or owned by any
Stockholder prior to the termination of this Agreement being referred to herein as the “Subject Shares”) and (ii) directly or indirectly owns the number of Warrants and/or Company Stock Options set forth opposite such
Stockholder’s name on Schedule A; 
 WHEREAS, Parent, Sub and the Company intend to enter into an Agreement
and Plan of Merger, dated as of the date hereof and as it may be amended from time to time (the “Merger Agreement”), which provides, among other things, for Sub to commence a tender offer for all of the issued and outstanding Common
Stock of the Company (the “Offer”) and the merger of the Company and Sub (the “Merger”), upon the terms and subject to the conditions set forth in the Merger Agreement (capitalized terms used but not otherwise
defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement); and 
 WHEREAS, as a
condition to their willingness to enter into the Merger Agreement, Parent and Sub have required that each Stockholder, and as an inducement and in consideration therefor, each Stockholder (in such Stockholder’s capacity as a holder of the
Subject Shares and, if applicable, Warrants and Company Stock Options) has agreed to, enter into this Agreement. 
 NOW,
THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth below and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto, intending to be legally bound, do hereby agree as follows: 
 ARTICLE I 

AGREEMENT TO TENDER 
 1.1 Agreement to Tender. Each Stockholder agrees to validly tender or cause to be tendered in the Offer all of such Stockholder’s Subject Shares pursuant to and in accordance with the
terms of the Offer, free and clear of all Encumbrances (other than Permitted Encumbrances). Without limiting the generality of the foregoing, as promptly as practicable after, but in no event later than (10) Business Days after, the
commencement of the Offer, each Stockholder shall (i) deliver pursuant to the terms of the Offer (A) a letter of transmittal with respect to such Stockholder’s Subject Shares complying with the terms of the Offer, (B) a
Certificate representing such Subject Shares or an “agent’s message” (or such other evidence, if any, of transfer as the Paying Agent may reasonably request) in the case of a book-entry share of any uncertificated Subject Shares, and
(C) all other 

 
documents or instruments required to be delivered by stockholders of the Company (the “Company Stockholders”) pursuant to the terms of the Offer, or (ii) instruct such
Stockholder’s broker or such other Person that is the holder of record of any Subject Shares beneficially owned by such Stockholder to tender such Subject Shares pursuant to and in accordance with clause (i) of this Section 1.1
and the terms of the Offer. Each Stockholder agrees that, once such Stockholder’s Subject Shares are tendered, such Stockholder will not withdraw any of such Subject Shares from the Offer, unless and until (A) the Offer shall have been
terminated in accordance with the terms of the Merger Agreement, or (B) this Agreement shall have been terminated in accordance with its terms. 
 ARTICLE II 
 REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDERS

 Each Stockholder represents and warrants to Parent and Sub as to such Stockholder, severally but not jointly, that:

 2.1. Organization; Authorization; Binding Agreement. If such Stockholder is an entity, such Stockholder is
duly organized, validly existing and in good standing under the Laws of the jurisdiction in which it is incorporated or constituted (to the extent such concepts are recognized in such jurisdiction) and the consummation of the transactions
contemplated hereby are within such Stockholder’s corporate or organizational powers and have been duly authorized by all necessary corporate or organizational actions on the part of such Stockholder. Such Stockholder has full power and
authority to execute, deliver and perform this Agreement. This Agreement has been duly and validly executed and delivered by such Stockholder, and constitutes a legal, valid and binding obligation of such Stockholder enforceable against such
Stockholder in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar Laws relating to or affecting creditors’ rights generally and general equitable
principles (whether considered in a Proceeding in equity or at law). 
 2.2. Non-Contravention. The execution
and delivery of this Agreement by such Stockholder does not, and the performance by such Stockholder of such Stockholder’s obligations hereunder and the consummation by such Stockholder of the transactions contemplated hereby will not
(i) violate any Law applicable to such Stockholder or such Stockholder’s Subject Shares or, if applicable, Warrants or Company Stock Options, (ii) except as may be required by applicable securities Law, require any consent, approval,
order, authorization or other action by, or filing with or notice to, any Person (including any Governmental Entity) under, constitute a default (with or without the giving of notice or the lapse of time or both) under, or give rise to any right of
termination, cancellation or acceleration under, or result in the creation of any Encumbrances on any of the Subject Shares or, if applicable, Warrants or Company Stock Options pursuant to, any Contract, agreement, trust, commitment, order,
judgment, writ, stipulation, settlement, award, decree or other instrument binding on such Stockholder or any applicable Law, (iii) render any Takeover Provisions applicable to the Merger, the Offer or any other transaction involving Parent,
Sub or any Affiliate thereof, or (iv) if such Stockholder is an entity, violate any provision of such Stockholder’s organizational documents, in case of each of clauses (i), (ii) and (iv), except as would not reasonably be expected to
adversely affect the ability of such Stockholder to perform its obligations under this Agreement in any material respect or to consummate the transactions contemplated hereby in a timely manner. 

2.3. Ownership of Subject Shares, Warrants and Company Stock Options; Total Shares. Such Stockholder is the record or
beneficial owner (as defined in Rule 13d-3 under the Exchange Act) 

  
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of such Stockholder’s Subject Shares and, if applicable, Warrants and Company Stock Options and has good and marketable title to such Subject Shares and, if applicable, Warrants and Company
Stock Options free and clear of any liens, claims, proxies, voting trusts or agreements, options, rights, understandings or arrangements or any other encumbrances or restrictions whatsoever on title, transfer or exercise of any rights of a
stockholder in respect of such Subject Shares and, if applicable, Warrants and Company Stock Options (collectively, “Encumbrances”), except as provided hereunder or pursuant to any applicable restrictions on transfer under the
Securities Act (collectively, “Permitted Encumbrances”). The Subject Shares, Warrants and Company Stock Options listed on Schedule A opposite such Stockholder’s name constitute all of the Equity Interests of the
Company beneficially owned by such Stockholder as of the date hereof, and such Stockholder neither holds nor has any beneficial ownership in any other Equity Interest in the Company. Except pursuant to this Agreement, no Person has any contractual
or other right or obligation to purchase or otherwise acquire any of such Stockholder’s Subject Shares or, if applicable, Warrants or Company Stock Options. 
 2.4. Voting Power. Other than as provided in this Agreement, such Stockholder has full voting power, with respect to such Stockholder’s Subject Shares and full power of
disposition, full power to issue instructions with respect to the matters set forth herein and full power to agree to all of the matters set forth in this Agreement, in each case with respect to all of such Stockholder’s Subject Shares and, if
applicable, Warrants and Company Stock Options. None of such Stockholder’s Subject Shares are subject to any proxy, voting trust or other agreement or arrangement with respect to the voting of such Subject Shares, except as provided hereunder.

 2.5. Reliance. Such Stockholder has had the opportunity to review the Merger Agreement and this Agreement
with counsel of such Stockholder’s own choosing. Such Stockholder understands and acknowledges that Parent and Sub are entering into the Merger Agreement in reliance upon such Stockholder’s execution, delivery and performance of this
Agreement. 
 2.6 Absence of Litigation. With respect to such Stockholder, as of the date hereof, there is no
Proceeding pending against, or, to the knowledge of such Stockholder, threatened in writing against such Stockholder or any of such Stockholder’s properties or assets (including the Subject Shares and, if applicable, Warrants and Company Stock
Options) that would reasonably be expected to prevent or materially delay or impair the consummation by such Stockholder of the transactions contemplated by this Agreement or otherwise adversely impact such Stockholder’s ability to perform its
obligations hereunder in any material respect. 
 2.7 Brokers. No broker, finder, financial advisor, investment
banker or other Person is entitled to any brokerage, finder’s, financial advisor’s or other similar fee or commission in connection with the transactions contemplated hereby based upon arrangements made by or, to the knowledge of such
Stockholder, on behalf of such Stockholder. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES OF PARENT AND SUB 
 Each of Parent and Sub represent and warrant to each of the Stockholders, jointly and severally, that: 
 3.1. Organization; Authorization. Each of Parent and Sub is duly organized, validly existing and in good standing under the Laws of the State of Delaware. The consummation of the

  
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transactions contemplated hereby are within each of Parent’s and Sub’s corporate powers and have been duly authorized by all necessary corporate actions on the part of Parent and Sub.
Each of Parent and Sub have full corporate power and authority to execute, deliver and perform this Agreement. 

3.2. Binding Agreement. This Agreement has been duly authorized, executed and delivered by each of Parent and Sub and
constitutes a legal, valid and binding obligation of Parent and Sub enforceable against Parent and Sub in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other
similar Laws relating to or affecting creditors’ rights generally and general equitable principles (whether considered in a Proceeding in equity or at law). 
 ARTICLE IV 
 ADDITIONAL COVENANTS OF THE STOCKHOLDERS 

Each Stockholder hereby covenants and agrees, severally but not jointly, that until the termination of this Agreement: 

4.1. Voting of Subject Shares; Proxy. 
 (a) At every meeting of the Company Stockholders called, and at every adjournment or postponement thereof, such Stockholder shall, or shall cause the holder of record on any applicable record date to,
appear or otherwise cause such Stockholder’s Subject Shares to be counted as present for purposes of establishing a quorum at any such meeting of Company Stockholders and vote such Stockholder’s Subject Shares (to the extent that any of
the Subject Shares are not purchased in the Offer) (the “Vote Shares”) (i) in favor of (A) the adoption and approval of the Merger Agreement and the transactions contemplated thereby or any other transaction pursuant to
which Parent proposes to acquire the Company, whether by tender offer or merger, in which Company Stockholders would (x) receive aggregate consideration per share of Common Stock equal to or greater than the consideration to be received by such
Company Stockholders in the Offer and the Merger, (y) receive only cash and no other form of consideration and (z) not be required to agree to any additional obligations, liabilities, covenants or other agreements, and (B) approval of
any proposal to adjourn or postpone the meeting to a later date, if there are not sufficient votes for the adoption and approval of the Merger Agreement and the transactions contemplated thereby or such other transaction on the date on which such
meeting is held, (ii) against (A) any action or agreement which would in any material respect impede, interfere with or prevent the Offer or the Merger, including, but not limited to, any other extraordinary corporate transaction,
including, a merger, acquisition, sale, consolidation, reorganization, recapitalization, extraordinary dividend or liquidation involving the Company and any Person (other than Parent, Sub or their respective Affiliates), or any other proposal of any
Person (other than Parent, Sub or their respective Affiliates) to acquire the Company or all or substantially all of the assets thereof, (B) any Takeover Proposal and any action in furtherance of any Takeover Proposal or (C) any action,
proposal, transaction or agreement that would reasonably be expected to result in the occurrence of any condition set forth in Annex I to the Merger Agreement or result in a breach of any covenant, representation or warranty or any other obligation
or agreement of such Stockholder under this Agreement and/or (iii) in favor of any other matter necessary for consummation of the transactions contemplated by the Merger Agreement, which is considered at any such meeting of the Company
Stockholders. 
 (b) Such Stockholder hereby irrevocably grants to, and appoints, Parent and any designee thereof, such
Stockholder’s proxy and attorney-in-fact (with full power of substitution), for and in the 

  
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name, place and stead of such Stockholder, to attend any meeting of the Company Stockholders on behalf of such Stockholder with respect to the matters set forth in Section 4.1(a), to include
such Subject Shares in any computation for purposes of establishing a quorum at any such meeting of Company Stockholders, and to vote all Vote Shares, or to grant a consent or approval in respect of the Vote Shares, in connection with any meeting of
Company Stockholders or any action by written consent in lieu of a meeting of Company Stockholders in a manner consistent with the provisions of Section 4.1(a). Such Stockholder hereby affirms that the irrevocable proxy set forth in this
Section 4.1(b) is given in connection with the execution of the Merger Agreement, and that such irrevocable proxy is given to secure the performance of the duties of such Stockholder under this Agreement. Such Stockholder hereby further affirms
that the irrevocable proxy is coupled with an interest and, except as set forth in this Section 4.1 or in Section 5.2 hereof, is intended to be irrevocable in accordance with the provisions of Section 212(e) of the Delaware General
Corporation Law. 
 4.2. No Transfer; No Inconsistent Arrangements. Except as provided hereunder (including
pursuant to Section 1.1 or Section 4.1) or under the Merger Agreement, such Stockholder shall not, directly or indirectly, (i) create or permit to exist any Encumbrance, other than Permitted Encumbrances, on any or all of such
Stockholder’s Subject Shares and, if applicable, Warrants and Company Stock Options, (ii) transfer, sell, assign, gift, hedge, pledge or otherwise dispose (whether by sale, liquidation, dissolution, dividend or distribution) of, or enter
into any derivative arrangement with respect to (collectively, “Transfer”), any or all of such Stockholder’s Equity Interests in the Company, including any Subject Shares, Warrants and Company Stock Options, or any right or
interest therein (or consent to any of the foregoing), (iii) enter into any contract, option or other agreement, arrangement or understanding with respect to any Transfer of any or all of such Stockholder’s Subject Shares and, if
applicable, Warrants or Company Stock Options, or any right or interest therein, (iv) grant or permit the grant of any proxy, power-of-attorney or other authorization or consent in or with respect to any or all of such Stockholder’s
Subject Shares and, if applicable, Warrants or Company Stock Options, (v) deposit or permit the deposit of any or all of such Stockholder’s Equity Interests in the Company, including any Subject Shares, into a voting trust or enter into a
voting agreement or arrangement with respect to any of such Equity Interests, including the Subject Shares, or (vi) take or permit any other action that would in any way restrict, limit or interfere with the performance of such
Stockholder’s obligations hereunder or the transactions contemplated hereby or otherwise make any representation or warranty of such Stockholder herein untrue or incorrect in any material respect. Any action taken in violation of the foregoing
sentence shall be null and void ab initio and such Stockholder agrees that any such prohibited action may and should be enjoined. If any involuntary Transfer of any or all of such Stockholder’s Subject Shares and, if applicable, Warrants
and Company Stock Options shall occur (including, if applicable, a sale by such Stockholder’s trustee in any bankruptcy, or a sale to a purchaser at any creditor’s or court sale), the transferee (which term, as used herein, shall include
any and all transferees and subsequent transferees of the initial transferee) shall take and hold such Subject Shares and, if applicable, Warrants and Company Stock Options subject to all of the restrictions, liabilities and rights under this
Agreement, which shall continue in full force and effect until valid termination of this Agreement. Such Stockholder agrees that it shall not, and shall cause each of its Affiliates not to, become a member of a “group” (as defined under
Section 13(d) of the Exchange Act) with respect to any Equity Interests in the Company for the purpose of opposing or competing with or taking any actions inconsistent with the transactions contemplated by the Merger Agreement. Notwithstanding
the foregoing, such Stockholder may make Transfers of Subject Shares and, if applicable, Warrants and Company Stock Options (a) to any “Permitted Transferee” (as defined below), in which case the Subject Shares and, if applicable,
Warrants and Company Stock Options shall continue to be bound by this Agreement and provided that any such 

  
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Permitted Transferee agrees in writing to be bound by the terms and conditions of this Agreement prior to the consummation of any such Transfer; (b) with respect to any Warrants and/or
Company Stock Options which expire on or prior to an applicable Expiration Date, to the Company for purpose of a net exercise permitted under the documents related to such Warrant and/or Company Stock Options (pursuant to which any Common Stock
issued by the Company would be Subject Shares); or (c) as Parent may otherwise agree in writing in its sole discretion. If so requested by Parent, such Stockholder agrees that the Subject Shares and, if applicable, Warrants and Company Stock
Options shall bear a legend stating that the respective Subject Shares, Warrants and/or Company Stock Options are subject to this Agreement, provided such legend shall be removed upon the valid termination of this Agreement. A “Permitted
Transferee” means, with respect to any Stockholder, (i) a spouse, lineal descendant or antecedent, brother or sister, adopted child or grandchild, or the spouse of any child, adopted child, grandchild, or adopted grandchild of such
Stockholder, (ii) any charitable organization described in Section 170(c) of the Code, (iii) any trust, the beneficiaries of which include only the Persons named in clause (i) or (ii) of this definition, (iv) any
corporation, limited liability company, or partnership, the stockholders, members, and general or limited partners of which include only the Persons named in clause (i) or (ii) of this definition, or (v) if such Stockholder is a
partnership or limited liability company, one or more partners or members of such Stockholder or an affiliated corporation under common control with such Stockholder. 
 4.3. No Exercise of Appraisal Rights; Actions. Such Stockholder (i) waives and agrees not to exercise any Appraisal Rights in respect of such Stockholder’s Subject Shares that
may arise with respect to the Merger and (ii) agrees not to commence or join in, and agrees to take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against Parent, Sub, the
Company or any of their respective successors (x) challenging the validity of, or seeking to enjoin the operation of, any provision of this Agreement or (y) alleging breach of any fiduciary duty of any Person in connection with the
negotiation and entry into the Merger Agreement. 
 4.4. Documentation and Information. Except as required by
applicable law (including without limitation the filing of a Schedule 13D with the SEC which may include this Agreement as an exhibit thereto), such Stockholder shall not make any public announcement regarding this Agreement, the Merger Agreement or
the transactions contemplated hereby or thereby without the prior written consent of Parent. Such Stockholder consents to and hereby authorizes Parent and Sub to publish and disclose in all documents and schedules filed with the SEC, and any press
release or other disclosure document that Parent or Sub reasonably determines to be necessary in connection with the Offer, the Merger and any transactions contemplated by the Merger Agreement, such Stockholder’s identity and ownership of the
Subject Shares and/or, if applicable, Warrants and/or Company Stock Options, the existence of this Agreement and the nature of such Stockholder’s commitments and obligations under this Agreement, and such Stockholder acknowledges that Parent
and Sub may in Parent’s sole discretion, file this Agreement or a form hereof with the SEC or any other Governmental Entity. Such Stockholder agrees to promptly give Parent any information it may reasonably require for the preparation of
any such disclosure documents, and such Stockholder agrees to promptly notify Parent of any required corrections with respect to any written information supplied by it specifically for use in any such disclosure document, if and to the extent that
such Stockholder shall become aware that any such information shall have become false or misleading in any material respect. 

4.5. No Solicitation. Such Stockholder shall not, nor shall such Stockholder authorize or permit any of such
Stockholder’s Representatives to, directly or indirectly, (a) solicit, initiate, propose or knowingly encourage or facilitate (including by providing information), or take any other action

  
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designed to encourage or facilitate, any inquiries or the making of any proposal or offer that constitutes, or may reasonably be expected to lead to, a Takeover Proposal, (b) enter into,
continue or otherwise participate in any discussions or negotiations regarding or furnish to any Person (other than Parent, Sub or their respective Representatives or the Company’s Representatives) any information or data concerning the Company
or any Subsidiary of the Company relating to, or otherwise cooperate with, any proposal that constitutes, or may reasonably be expected to lead to, a Takeover Proposal or (c) execute or enter into any letter of intent, agreement in principle,
tender agreement, support agreement or other similar agreement relating to a Takeover Proposal or any proposal or offer that may reasonably be expected to lead to or facilitate a Takeover Proposal, or that contradicts the Merger Agreement. Such
Stockholder shall, and shall cause its Representatives to, immediately cease all discussions and negotiations with any Person that may be ongoing with respect to any proposal that constitutes, or may reasonably be expected to lead to, any Takeover
Proposal and request the prompt return or destruction of all confidential information previously furnished. 
 4.6
Adjustments. In the event (a) of any stock split, stock dividend, merger, reorganization, recapitalization, reclassification, combination, exchange of shares or the like of the capital stock of the Company on, of or affecting the
Subject Shares or (b) that such Stockholder shall become the beneficial owner of any additional shares of Common Stock, then the terms of this Agreement shall apply to the shares of Common Stock held by such Stockholder immediately following
the effectiveness of the events described in clause (a) or such Stockholder becoming the beneficial owner thereof as described in clause (b), as though, in either case, they were Subject Shares hereunder. In the event that any such Stockholder
shall become the beneficial owner of any other securities entitling the holder thereof to vote or give consent with respect to the matters set forth in Section 4.1 hereof, then the terms of Section 4.1 hereof shall apply to such other
securities as though they were Subject Shares hereunder. 
 4.7 Exercise of Options and Warrants. Such
Stockholder hereby irrevocably elects to exercise such Stockholder’s Warrants and/or vested Company Stock Options, if any, conditioned solely upon the occurrence of the Acceptance Time and the Wire Initiation, in a cashless exercise (without
shares of Common Stock being sold into the public market in connection therewith) such that such Stockholder will be entitled to receive immediately after the Wire Initiation in full satisfaction of the Company’s obligations with respect to the
Warrants and/or vested Company Stock Options the number of shares of Common Stock equal to the aggregate number of shares of Common Stock underlying the Warrants and/or Company Stock Options, less the number of shares of Common Stock (valued at
$26.00 per share for this purpose) withheld by the Company (a) in payment of the exercise price of the Warrants and/or Company Stock Options, as applicable, and (b) in order to satisfy all required withholding taxes due on account of the
exercise of the Warrants and/or Company Stock Options, as applicable (the net shares so delivered, the “Net Shares”). The Company covenants that it shall issue, or cause to be issued, duly and validly executed physical stock
certificates representing the Net Shares in the name of such Stockholder immediately after the Wire Initiation in full satisfaction of the Company’s obligations under the Warrants and Company Stock Options. 

4.8 Transfer of Net Shares. Such Stockholder hereby irrevocably directs the Company, on its behalf, to transfer any share
certificates issued pursuant to Section 4.7 with respect to the Net Shares to Sub immediately upon the Wire Initiation, and the Company covenants to so transfer and deliver such share certificates to Sub. 

  
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 4.9 Payment for Net Shares. Sub shall pay to such Stockholder an amount equal
to $26.00 per share for the Net Shares. The “Wire Initiation” means the initiation by or on behalf of Sub of a wire of immediately available funds to an account designated by such Stockholder, in writing within ten (10) Business Days
after the date hereof, in an amount equal to the aggregate consideration for such Stockholder’s Net Shares. 
 4.10
No Adjustments. Such Stockholder and the Company acknowledge and agree that (a) no changes may be made to such Stockholder’s directives to exercise the Warrants and/or Company Stock Options, as applicable, issue the
applicable shares of Common Stock to such Stockholder and transfer all of the share certificates with respect to the shares pursuant to Sections 4.7 though 4.10 without the express written consent of Parent, (b) Parent is an intended
beneficiary of Sections 4.7 through 4.10 and (c) all Stockholder directives pursuant to Sections 4.7 through 4.10 shall be binding, as applicable, upon Stockholder’s estate, beneficiaries, heirs, successors, assigns and any other person
who may acquire beneficial ownership of, or any other interest in, the Warrants and/or the Company Stock Options. 
 ARTICLE V

 MISCELLANEOUS 
 5.1. Notices. Any notices or other communications required or permitted under, or otherwise in connection with this Agreement, shall be in writing and shall be deemed to have been duly given
when delivered in person, or upon confirmation of receipt when transmitted by facsimile transmission or by electronic mail, or on receipt after dispatch by registered or certified mail, postage prepaid, or on the next business day (as defined in the
Merger Agreement) if transmitted by national overnight courier, in each case addressed as follows: (i) if to Parent or Sub, in accordance with the provisions of the Merger Agreement and (ii) if to a Stockholder, to such Stockholder’s
address, facsimile number or e-mail address set forth on a signature page hereto, or to such other address, facsimile number or e-mail address as such party may hereafter specify in writing for the purpose by notice to each other party hereto.

 5.2. Termination. This Agreement shall terminate automatically, without any notice or other action by any
Person, upon the first to occur of (i) the termination of the Merger Agreement in accordance with its terms, (ii) the Effective Time, (iii) the Offer shall have terminated or the Expiration Date shall have occurred, in each case
without acceptance for payment of the Subject Shares pursuant to the Offer, (iv) the date of any material modification, waiver or amendment to any provision of the Merger Agreement that reduces the amount, changes the form or otherwise
adversely affects the consideration payable to the Stockholder pursuant to the Merger Agreement as in effect on the date hereof, and (v) the mutual written consent of all of the parties hereto. Upon termination of this Agreement, no party shall
have any further obligations or liabilities under this Agreement and the power-of-attorney and proxy set forth in Section 4.1 shall be revoked, terminated and of no further force and effect; provided, however, that
(x) nothing set forth in this Section 5.2 shall relieve any party from liability for any breach of this Agreement prior to termination hereof and (y) the provisions of this Article V shall survive any termination of this
Agreement. 
 5.3. Amendments and Waivers. Any provision of this Agreement may be amended or waived if such
amendment or waiver is in writing and is signed, in the case of an amendment, by each party to this Agreement or, in the case of a waiver, by each party against whom the waiver is to be effective. No failure or delay by any party in exercising any
right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 

  
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 5.4. Expenses. All fees and expenses incurred in connection herewith and
the transactions contemplated hereby shall be paid by the party incurring such expenses, whether or not the Offer or the Merger is consummated; provided that nothing herein shall prevent the Company from paying the expenses of the Stockholders;
provided however that the Company shall not pay more than $25,000 in the aggregate across all Stockholders for such expenses. 

5.5. Binding Effect; Benefit; Assignment. The parties hereby agree that their respective representations, warranties
and covenants set forth herein are solely for the benefit of the other parties, in accordance with and subject to the terms of this Agreement, and this Agreement is not intended to, and does not, confer upon any Person other than the parties hereto
any rights or remedies hereunder, including the right to rely upon the representations and warranties set forth herein. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties (whether
by operation of Law or otherwise) without the prior written consent of the other parties, except to the extent that such rights, interests or obligations are assigned pursuant to a Transfer expressly permitted under Section 4.2. No assignment
by any party shall relieve such party of any of its obligations hereunder. Subject to the foregoing, this Agreement will be binding upon, inure to the benefit of and be enforceable by the parties and their respective successors and permitted
assigns. 
 5.6. Governing Law; Venue. 

(a) THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, REGARDLESS OF THE LAWS THAT
MIGHT OTHERWISE GOVERN UNDER APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS. 
 (b) Each of the parties hereto (i) irrevocably
consents to submit itself to the exclusive jurisdiction of the Delaware Court of Chancery and any state appellate court therefrom within the State of Delaware (unless the Delaware Court of Chancery shall decline to accept jurisdiction over a
particular matter, in which case, in any Delaware state or federal court within the State of Delaware) (such courts, collectively, the “Delaware Courts”) in the event any dispute, claim or cause of action arises out of or relates to
this Agreement or the transactions contemplated by this Agreement, (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any Delaware Court and (iii) agrees that it will
not bring any claim or action arising out of or relating to this Agreement or the transactions contemplated by this Agreement in any court other than a Delaware Court. Each of the parties hereto hereby irrevocably and unconditionally consents to
service of process in the manner provided for notices in Section 5.1 (Notices). Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by Law. 

(c) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND
DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY, 

  
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INCLUDING ANY CONTROVERSY INVOLVING ANY REPRESENTATIVE OF PARENT UNDER THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY
HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) EACH PARTY
MAKES THIS WAIVER VOLUNTARILY, AND (iv) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.6(c). 

5.7. Counterparts; Delivery by Facsimile or Email. This Agreement may be executed by facsimile and in one or more
counterparts, and by the different parties in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. This Agreement, and any amendments
hereto, waivers hereof or consents or notifications hereunder, to the extent signed and delivered by means of a facsimile machine or by email with facsimile or scan attachment, shall be treated in all manner and respects as an original contract and
shall be considered to have the same binding legal effects as if it were the original signed version thereof delivered in person. At the request of any party, each other party shall re-execute original forms thereof and deliver them to all other
parties. No party shall raise the use of a facsimile machine or email to deliver a signature or the fact that any signature or Contract was transmitted or communicated through the use of facsimile machine or by email with facsimile or scan
attachment as a defense to the formation of a contract, and each such party forever waives any such defense. 

5.8. Entire Agreement. This Agreement constitutes the entire agreement of the parties and supersedes all prior
agreements and undertakings, both written and oral, among the parties, or any of them, with respect to the subject matter hereof and thereof. 
 5.9. Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and
provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible to the end that
transactions contemplated hereby are fulfilled to the greatest extent possible. 
 5.10. Specific
Performance. The parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof, and, accordingly, that the parties shall be entitled to an injunction or
injunctions to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof, in addition to any other remedy to which they are entitled at law or in equity. In any Proceeding for specific
performance, the parties will waive the defense of adequacy of a remedy at law, and the parties waive any requirement for the securing or posting of any bond in connection with the remedies referred to in this Section 5.10. 

5.11 Headings. The Section headings contained in this Agreement are for reference purposes only and shall not affect in any
way the meaning or interpretation of this Agreement. 

  
 10 

 5.12. Mutual Drafting. Each party has participated in the drafting of
this Agreement, which each party acknowledges is the result of extensive negotiations between the parties; accordingly, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly
by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement. 
 5.13. Further Assurances. Parent, Sub and each Stockholder will execute and deliver, or cause to be executed and delivered, all further documents and instruments and use their
respective reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under applicable Laws and regulations, to perform their respective obligations under this
Agreement. 
 5.14. Interpretation. Unless the context otherwise requires, as used in this
Agreement: (i) “or” is not exclusive; (ii) “including” and its variants mean “including, without limitation” and its variants; (iii) words defined in the singular have the parallel meaning in the plural
and vice versa; (iv) words of one gender shall be construed to apply to each gender; and (v) the terms “Article,” “Section” and “Schedule” refer to the specified Article, Section or Schedule of or to this
Agreement. 
 5.15 Capacity as Stockholder. Each Stockholder signs this Agreement solely in such
Stockholder’s capacity as a Stockholder of the Company, and not in any other capacity and this Agreement shall not limit or otherwise affect the actions of such Stockholder or any affiliate, employee or designee of such Stockholder or any of
its affiliates in its capacity, if applicable, as an officer or director of the Company. 
 5.16 No Agreement Until
Executed. This Agreement shall not be effective unless and until (i) the Merger Agreement is executed by all parties thereto, and (ii) this Agreement is executed by all parties hereto. 

5.17 No Ownership Interest. Except as otherwise provided herein, nothing contained in this Agreement shall be deemed to
vest in Parent or Sub any direct or indirect ownership or incidence of ownership of or with respect to the Subject Shares. All rights, ownership and economic benefits of and relating to the Subject Shares shall remain vested in and belong to each
applicable Stockholder, and neither Parent nor Sub shall have any authority to manage, direct, restrict, regulate, govern, or administer any of the policies or operations of the Company or exercise any power or authority to direct such Stockholder
in the voting of any of the Shares, except as otherwise provided herein. 
 5.18 Stockholder Obligations Several and Not
Joint. The obligations of each Stockholder hereunder shall be several and not joint, and no Stockholder shall be liable for any breach of the terms of this Agreement by any other Stockholder. 

[Signature Page Follows] 

  
 11 

 The parties are executing this Agreement on the date set forth in the introductory clause.

  

			
	BRISTOL-MYERS SQUIBB COMPANY
		
	By:	 	 /s/ Demetrios Kydonieus

		 	 Name:  Demetrios Kydonieus

		 	 Title:    Vice President, Strategy,

Alliances and Transactions

	
	INTA ACQUISITION CORPORATION
		
	By:	 	 /s/ Demetrios Kydonieus

		 	 Name:  Demetrios Kydonieus

		 	 Title:    President

	
	INHIBITEX, INC.
		
	By:	 	 /s/ Michael Henos

		 	 Name:  Michael Henos

		 	 Title:    Chairman of the Board

 [Signature Page to Tender and Support Agreement] 

 
					
	 STOCKHOLDERS:
  

NEW ENTERPRISE ASSOCIATES 10, LIMITED PARTNERSHIP

		
	By:	 	 NEA Partners 10, Limited Partnership,
 its general partner

		
	By:	 	/s/ Louis S. Citron
		 	 Name:
	 	Louis S. Citron
		 	Title:	 	Chief Legal Officer
	
	 NEW ENTERPRISE ASSOCIATES 11, LIMITED PARTNERSHIP

		
	By:	 	 NEA Partners 11, Limited Partnership,
 its general partner

		
	By:	 	 NEA 11 GP, LLC,

its general partner

		
	By:	 	/s/ Louis S. Citron
		 	Name:	 	Louis S. Citron
		 	Title:	 	Chief Legal Officer
	
	NEA VENTURES 2002, L.P.
		
	By:	 	/s/ Louis S. Citron
		 	Name:	 	Louis S. Citron
		 	Title:	 	Vice President
	
	 Address for notices:
 c/o New Enterprise Associates
 1954 Greenspring Drive, Suite 600

Timonium, MD 21093
 Attention: Louis Citron,
Chief Legal Officer
 email: lcitron@nea.com

 [Signature Page to Tender and Support Agreement] 

 
	
	/s/ Michael James Barrett
	MICHAEL JAMES BARRETT
	
	 Address for notices:

c/o New Enterprise Associates
 1954 Greenspring
Drive, Suite 600
 Timonium, MD 21093

Attention: Louis Citron, Chief Legal Officer

email: lcitron@nea.com

	
	/s/ Russell Plumb
	RUSSELL PLUMB
	
	 Inhibitex, Inc.
 9005 Westside
Parkway
 Alpharetta, GA 30009

	
	/s/ Gabriele Cerrone
	GABRIELE CERRONE
	
	 Inhibitex, Inc.
 9005 Westside
Parkway
 Alpharetta, GA 30009

  

					
	PANETTA PARTNERS, LTD.
		
	By:	 	/s/ Gabriele Cerrone
		 	Name:	 	Gabriele Cerrone
		 	Title:	 	General Partner
		
		 	 Inhibitex, Inc.

9005 Westside Parkway
 Alpharetta, GA
30009

 [Signature Page to Tender and Support Agreement] 

 Schedule A 

 

																
	 Name of Stockholder
	  	No. Shares	  	No. Company
Stock Options	  	No. Warrants
	 Russell H. Plumb
	  	 	 	360,988	 	  	 	 	1,617,500	 	  	 	 	0	 
				
	 Michael James Barrett
	  	 	 	60,992	 	  	 	 	90,000	 	  	 	 	0	 
				
	 Gabriele Cerrone*
	  	 	 	0	 	  	 	 	114,600	 	  	 	 	0	 
				
	 New Enterprise Associates 10, Limited Partnership
	  	 	 	6,898,294	 	  	 	 	0	 	  	 	 	791,015	 
				
	 New Enterprise Associates 11, Limited Partnership
	  	 	 	1,941,407	 	  	 	 	0	 	  	 	 	263,671	 
				
	 NEA Ventures 2002, L.P.
	  	 	 	2,911	 	  	 	 	0	 	  	 	 	0	 
				
	 Panetta Partners, Ltd.
	  	 	 	2,102,100	 	  	 	 	0	 	  	 	 	871,200	 
				
	 TOTAL
	  	 	 	11,366,692	 	  	 	 	1,822,100	 	  	 	 	1,925,886	 

  

	*	Mr. Cerrone is the beneficial owner of the shares and warrants owned by Panetta Partners, Ltd.Employment Agreement

 EXHIBIT 10.1 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement
(“Agreement”) is made and entered into as of the 9th day of January 2012 (“Effective Date”), by and among Provident New York Bancorp, a Delaware corporation (the “Company), Provident Bank, a savings bank organized
and existing under the laws of the United States of America (the “Bank”; and together with the Company, “Provident”), and Stephen V. Masterson (“Executive”). 

WITNESSETH: 
 WHEREAS, the Company and the Bank desire to employ Executive as Executive Vice President, Chief Financial Officer of the Company and the Bank; and 

WHEREAS, Executive desires to serve in such positions; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and obligations hereinafter set forth, the Company, the Bank and Executive hereby agree as follows: 

1. Employment. 
 Subject to the terms set forth herein, Executive will be employed as Executive Vice President, Chief Financial Officer of the Company and the Bank. Executive shall have such authority, perform such duties
and fulfill such responsibilities commonly incident to such positions or which are delegated to Executive by the President and Chief Executive Officer of the Company and the Bank. While employed, Executive shall devote his full business time and
attention to the business and affairs of Provident and shall use his best efforts to advance the interests of Provident. 
 2.
Employment Period 
 (a) Duration. Executive’s period of employment with Provident
shall begin on the Effective Date and shall continue until the first anniversary of such date (or if a Change in Control occurs prior to such first anniversary, the one year anniversary of the date of the Change in Control), unless terminated prior
thereto by either Provident or Executive in accordance with Section 6 hereof (such period of employment being the “Employment Period”). 
 (b) Employment Following Termination of Employment Period. Nothing in this Agreement shall mandate or prohibit a continuation of Executive’s employment following the expiration of the
Employment Period upon such terms and conditions as the Company, the Bank, and Executive may agree. 
 3.
Compensation 
 (a) Base Salary. In consideration for the services performed by Executive during the
Employment Period, Provident shall pay to Executive an annual salary (“Base Salary”) of $325,000. The Base Salary shall be paid in approximately equal installments in accordance with the Bank’s customary payroll practices. 

 (b) Annual Bonus. During the Employment Period, Executive shall be eligible to
participate in Provident’s Short-Term Incentive Plan (or any successor thereto).
 (c) Long-Term Compensation.
During the Employment Period, Executive shall be eligible to participate in any equity and/or other long-term compensation programs established by Provident from time to time for senior executive officers on a basis consistent with Executive’s
status as an Executive Vice President of the Company and the Bank. As of the Effective Date, Executive shall be granted equity-based awards (the “Effective Date Equity Awards”) covering the Company’s common stock (“Common
Stock”) as follows: 
 (i) Stock options covering 25,000 shares of Common Stock that shall vest annually at a rate of 25%
on each of the first four anniversaries of the Effective Date, subject to Executive’s continued employment with Provident. The per share exercise price of the options shall be equal the closing price of the Common Stock on the Effective
Date, as reported on the New York Stock Exchange.
 (ii) A restricted stock award covering 7,000 shares of Common Stock. Such
shares shall vest annually at a rate of 33-1/3% on each of the first three anniversary dates of the Effective Date, subject to Executive’s continued employment with Provident. 
 The Effective Date Equity Awards shall be subject to the terms and conditions of the Company’s standard forms of award agreements and such other customary terms and conditions as the Company may
establish. 
 (d) Employee Benefit Plans; Paid Time Off. 

(i) Benefit Plans. During the Employment Period, Executive shall be an employee of the Company and the Bank and shall be entitled
to participate in Provident’s (A) tax-qualified retirement plans (as of the date hereof, Provident’s 401(k) and Profit Sharing Plan and Employee Stock Ownership Plan); (B) group life, health and disability insurance plans; and
(C) any other employee benefit plans and programs, in accordance with Provident’s customary practices, provided that Executive’s participation shall be subject to the terms of such plans and programs (including being a member of the
class of employees authorized to participate in the plan or program), and provided further that nothing herein shall limit Provident’s right to amend or terminate any such plans or programs. 

(ii) Paid Time Off. Executive shall be entitled to four (4) weeks of paid vacation time each year during the Employment
Period (measured on a fiscal or calendar year basis, in accordance with the Provident’s usual practices), as well as sick leave, holidays and other paid absences in accordance with Provident’s policies and procedures for senior executives.
Any unused paid time off during an annual period may be carried forward into the following year to the extent permitted under Provident’s policies and procedures and Executive shall not be compensated for any unused paid time off. 

(e) Signing Bonus. Provident shall pay Executive a signing bonus in the amount of $25,000 not later than the end of the first
payroll period that includes the Effective Date. 

  
 2 

 (f) Expenses. Provident shall reimburse Executive for Executive’s ordinary and
necessary business expenses and travel and entertainment expenses incurred in connection with the performance of his duties under this Agreement upon presentation to Provident of an itemized account of such expenses in such form as Provident may
reasonably require. 
 4. Principal Place of Employment 

Executive’s principal place of employment during the Employment Period shall be at the Company’s principal executive offices or
at such other location upon which the Company and Executive may mutually agree. 
 5. Outside Activities and Board
Memberships 
 Except with the prior written consent of the Company, Executive will not, during the term of
Executive’s employment, undertake or engage in any other employment, occupation or business enterprise that would interfere with Executive’s responsibilities and the performance of Executive’s duties hereunder; provided,
however, that Executive will be permitted to serve as a director of other for-profit and not-for-profit organizations and corporations so long as (a) such services does not interfere with the performance of Executive’s obligations
hereunder, (b) such organizations and corporations are not competitive in any business area in which the Company or the Bank is engaged and (c) such service is approved by the Board of Directors of the Company (“the Board”) prior
to the commencement of such service. 
 6. Termination of Employment 

(a) Termination by the Company Without Cause. 
 (i) Provident shall have the right to terminate Executive’s employment at any time during the Employment Period without Cause by giving notice to Executive as described in Section 6(f). For sake
of clarity, neither termination of Executive’s employment pursuant to Section 6(e) nor upon or after expiration of the Employment Period shall constitute a termination without Cause for purposes of this Section 6. 

(ii) In the event that Provident terminates Executive’s employment during the Employment Period without Cause: 

(A) Provident shall pay or provide to Executive any Accrued Obligations; 

(B) If such termination of employment occurs within one year after a Change in Control, subject to Section 6(g), Provident shall
(I) pay to Executive within sixty (60) days following the date of termination a lump sum cash payment (the “CIC Severance Payment”) equal to Executive’s Base Salary immediately prior to termination of employment and (II) pay
to Executive on a monthly basis commencing with the first month following Executive’s termination of employment and continuing until the eighteenth month following Executive’s termination of employment a cash payment (subject to reduction
for applicable withholding taxes) equal to the monthly COBRA premium in effect as of the date of Executive’s termination of employment for the level of coverage in effect for Executive under Provident’s group health plan (the “CIC
COBRA Payments”); 

  
 3 

 (b) Termination by the Company for Cause. Provident shall have the right to terminate
Executive’s employment at any time during the Employment Period for Cause by giving notice to Executive as provided in Section 6(f) hereof. In the event Executive’s employment is terminated for Cause, Provident’s sole obligation
shall be to pay or provide to Executive any Accrued Obligations. 
 (c) Resignation by Executive Without Good Reason.
Executive may resign from employment during the Employment Period without Good Reason at any time by giving notice to the Company as described in Section 6(f). In the event Executive resigns from employment without Good Reason, Provident’s
sole obligation shall be to pay or provide to Executive any Accrued Obligations. 
 (d) Resignation by Executive for Good
Reason. Executive may resign from employment under this Agreement for Good Reason by giving notice to the Company as described in Section 6(f). In the event Executive resigns from employment for Good Reason, Provident shall pay or provide
to Executive the same payments and benefits subject to the same terms and conditions, as described in Sections 6(a)(ii)(A)-(B) as if Executive’s employment was terminated by Provident without Cause pursuant to Section 6(a) as of
the date of Executive’s termination of employment for Good Reason. 
 (e) Termination by Reason of Death or Disability
of Executive. 
 (i) In the event of Executive’s death during the Employment Period, Provident’s sole obligation
shall be to pay to Executive’s legal representatives any Accrued Obligations. 
 (ii) The Company shall be entitled to
terminate Executive’s employment due to Executive’s Disability. If Executive’s employment hereunder is terminated due to Executive’s Disability, Provident’s sole obligation shall be to pay or provide to Executive any Accrued
Obligations. 
 (f) Notice; Effective Date of Termination. Notice of termination of employment under this Agreement shall
be communicated by or to Executive (on one hand) or the Company (on the other hand) in writing in accordance with Section 13. Termination of Executive’s employment pursuant to this Agreement shall be effective on the earliest of:

 (i) immediately after Provident gives notice to Executive of Executive’s termination without Cause, unless the parties
agree to a later date, in which case, termination shall be effective as of such later date; 
 (ii) immediately upon approval by
the Board of termination of Executive’s employment for Cause; 
 (iii) immediately upon Executive’s death; 

  
 4 

 (iv) in the case of termination by reason of Executive’s Disability, the date on which
Executive is determined to be permanently disabled for purposes of Provident’s long-term disability plan or policy that covers Executive; or 
 (v) thirty (30) days after Executive gives written notice to Provident of Executive’s resignation from employment under this Agreement (including for Good Reason), provided that the Company or
the Bank may set an earlier termination date at any time prior to the date of termination of employment, in which case Executive’s resignation shall be effective as of such other date. 

(g) General Release of Claims. Executive shall not be entitled to the CIC Severance Payment or the CIC COBRA Payments (together,
the CIC Severance Benefits”) pursuant to Section 6(a) or 6(d) hereof unless (i) Executive has executed and delivered to the Company a general release of claims (in such form as the Company shall specify) (the “Release”) and
such Release has become irrevocable under the Age Discrimination in Employment Act (ADEA) not later than fifty-six (56) days after the date of Executive’s termination of employment hereunder. Executive’s entitlement to any CIC
Severance Benefits is further conditioned upon Executive returning to Provident all property of Provident on or prior to the date of Executive’s termination of employment with Provident and complying with the terms of Sections 5, 8, and 9
hereof and the Release. Provident shall deliver to Executive a copy of the Release not later than three (3) days after Executive’s termination of employment hereunder after a Change in Control pursuant to Section 6(a) or 6(d) hereof.

 (h) No Other Severance Benefits. Executive acknowledges that any of the CIC Severance Benefits paid hereunder are in
lieu of, and not in addition to, any payments and/or benefits to which Executive may otherwise be entitled under any severance plan, policy or program of Provident. 
 (i) Payment of Obligations. Notwithstanding anything to the contrary herein, any payment obligation of the Company or the Bank under this Agreement may be satisfied in whole or in part by payment
by the Company, the Bank, or any affiliate and any such payment shall, for purposes of this Agreement, be treated as if made by the Company or the Bank (as applicable). 
 (j) Resignation from Positions. Upon termination of Executive’s employment for any reason, Executive shall promptly (i) resign from all positions (including, without limitation, any
management, officer, or director position) with Provident and (ii) relinquish any power of attorney, signing authority, trust authorization, or bank account signatory authorization that Executive may hold on behalf of Provident.
Executive’s execution of this Agreement shall be deemed the grant by Executive to the officers of the Company and the Bank of a limited power of attorney to sign in Executive’s name and on Executive’s behalf such documentation as may
be necessary or appropriate for the limited purposes of effectuating such resignations and relinquishments. 
 (k) Golden
Parachute Limit. Notwithstanding any other provision of this Agreement, in the event that any portion of the CIC Severance Benefits or any other payment or benefit received or to be received by Executive (whether pursuant to the terms of this
Agreement or any other plan, arrangement or agreement) (collectively, the “Total Benefits”) would be subject to the 

  
 5 

 
excise tax imposed under Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”) (the “Excise Tax”), the Total Benefits shall be reduced to the
extent necessary so that no portion of the Total Benefits is subject to the Excise Tax; provided, however, that no such reduction in the Total Benefits shall be made if by not making such reduction, Executive’s Retained Amount (as hereinafter
defined) would be greater than Executive’s Retained Amount if the Total Benefits are so reduced. All determinations required to be made under this Section 6(k) shall be made by tax counsel selected by Provident and reasonably acceptable to
Executive (“Tax Counsel”), which determinations shall be conclusive and binding on Executive and Provident absent manifest error. All fees and expenses of Tax Counsel shall be borne solely by Provident. Prior to any reduction in
Executive’s Total Benefits pursuant to this Section 6(k), Tax Counsel shall provide Executive and the Company with a report setting forth its calculations and containing related supporting information. In the event any such reduction is
required, the Total Benefits shall be reduced in the following order: (i) the CIC COBRA Payments, (ii) the CIC Severance Payment, (iii) any other portion of the Total Benefits that are not subject to Section 409A of the Code
(other than Total Benefits resulting from any accelerated vesting of equity awards), (iv) Total Benefits that are subject to Section 409A of the Code in reverse order of payment, and (v) Total Benefits that are not subject to
Section 409A and arise from any accelerated vesting of any equity awards. The parties hereto hereby elect to use the applicable Federal rate that is in effect on the date this Agreement is entered into for purposes of determining the present
value of any payments provided for hereunder for purposes of Section 280G of the Code. “Retained Amount” shall mean the present value (as determined in accordance with sections 280G(b)(2)(A)(ii) and 290G(d)(4) of the Code) of the
Total Benefits net of all federal, state and local taxes imposed on Executive with respect thereto. 
 7. Certain
Definitions. 
 (a) “Accrued Obligations” means (i) any accrued and unpaid Base
Salary of Executive through the date of termination of employment, payable pursuant to the Bank’s standard payroll policies, (ii) any compensation and benefits to the extent payable to Executive based on Executive’s participation in
any compensation or benefit plan, program or arrangement of Provident through the date of termination of employment, payable in accordance with the terms of such plan, program or arrangement, and (iii) any expense reimbursement to which
Executive is entitled under Provident’s standard expense reimbursement policy (as applicable) and Sections 3(e) and 10 hereof. 
 (b) “Cause” means Executive’s failure or refusal to substantially perform his duties hereunder, personal dishonesty, incompetence, misconduct, breach of fiduciary duty to the Company
or the Bank, breach of the Bank’s Code of Ethics, material violation of the Sarbanes-Oxley or other legal requirements for officers of public companies that in the reasonable opinion of the Board will likely cause material financial harm or
material injury to the reputation of the Company or the Bank, engaging in actions that in the reasonable opinion of the Board will likely cause material financial harm or material injury to the business reputation of the Company or Bank, willful
violation of any law, rule or regulation (other than routine traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement.  

  
 6 

 (c) “Change in Control” means the occurrence of any of the following:

 (i) any “person” (as the term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”)), other than any employee benefit plan of Provident or any affiliate, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of
the Company representing 25% or more of the combined voting power of Company’s outstanding securities; or 
 (ii)
individuals who constitute the Board on the date hereof (the “Incumbent Board”) cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the date hereof whose
election was approved by a vote of at least three-quarters of the directors comprising the Incumbent Board, or whose nomination for election by the Company’s stockholders was approved by the Nominating Committee serving under an Incumbent
Board, shall be, for purposes of this clause (ii), considered as though such person were a member of the Incumbent Board; or 

(iii) the Company consummates a merger, consolidation, share exchange, division or other reorganization or transaction of the Company (a
“Fundamental Transaction”) with any other corporation, other than a Fundamental Transaction that results in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the combined Voting Power immediately after such Fundamental Transaction of (i) the Company’s
outstanding securities, (ii) the surviving entity’s outstanding securities or (iii) in the case of a division, the outstanding securities of each entity resulting from the division; or 

(iv) the shareholders of the Company approve a plan of complete liquidation or winding up of the Company; or 

(v) the consummation of an agreement for the sale or disposition (in one transaction or a series of transactions) of all or substantially
all of the Company’s or the Bank’s assets. 
 (d) “Disability” means that Executive is deemed
disabled for purposes of Provident’s long-term disability plan or policy that covers Executive. 
 (e) “Good
Reason” means the occurrence of any of the following events (without Executive’s consent): 
 (i) a material
adverse change in Executive’s functions, duties, or responsibilities with the Company and the Bank, which change would cause Executive’s position to become one of materially lesser responsibility, importance, or scope; or 

(ii) a material breach of this Agreement by the Company or the Bank. 
 Notwithstanding the foregoing, no such event shall constitute “Good Reason” unless (a) Executive shall have given written notice of such event to the Company within ninety (90) days
after the initial occurrence thereof, (b) the Company and the Bank shall have failed to cure the situation within thirty (30) days following the delivery of such notice (or such longer cure period as may be agreed upon by the parties), and
(c) Executive terminates employment within thirty (30) days after expiration of such cure period. 

  
 7 

 8. Confidentiality. Unless Executive obtains prior written consent from
the Company or the Bank, Executive shall keep confidential and shall refrain from using for the benefit of Executive, or any person or entity other than the Company, the Bank or any entity which is a subsidiary or affiliate of the Company or the
Bank or of which the Company or the Bank is a subsidiary or affiliate, any document or information obtained from the Company, the Bank or from any of their respective parents, subsidiaries or affiliates, in the course of Executive’s employment
with any of them concerning their properties, operations or business (unless such document or information is readily ascertainable from public or published information or trade sources or has otherwise been made available to the public through no
fault of Executive) until the same becomes so ascertainable or available; provided, however, that nothing in this Section shall prevent Executive, with or without the Bank’s or the Company’s consent, from participating in or disclosing
documents or information in connection with any judicial or administrative investigation, inquiry or proceeding to the extent that such participation or disclosure is required under applicable law. 

9. Non-Solicitation; Post-Termination Cooperation 

(a) Executive hereby covenants and agrees that, while employed by Provident and for a period of one year following Executive’s
termination of employment with Provident (whether or not during the Employment Period), Executive shall not, without the prior written consent of the Company, either directly or indirectly: 

(i) solicit, offer employment to, or take any other action intended (or that a reasonable person acting in like circumstances would
expect) to have the effect of causing any officer or employee of the Company, the Bank or any of their respective subsidiaries or affiliates to terminate his or her employment and accept employment or become affiliated with, or provide services for
compensation in any capacity whatsoever, to any other person, business or entity; or 
 (ii) solicit, provide any information,
advice or recommendation or take any other action intended (or that a reasonable person acting in like circumstances would expect) to have the effect of causing any customer of the Company or the Bank or any of their affiliates to terminate an
existing business or commercial relationship with the Company or the Bank or any of their affiliates. 
 (b) Executive shall,
upon reasonable notice, furnish such information and assistance to the Company and/or the Bank, as may reasonably be required by the Company and/or the Bank, in connection with any litigation in which it or any of its subsidiaries or affiliates is,
or may become, a party; provided, however, that Executive shall not be required to provide information or assistance with respect to any litigation between Executive and the Company, the Bank or any of their subsidiaries or affiliates. 

(c) All payments and benefits to Executive under this Agreement shall be subject to Executive’s compliance with this Section. The
parties hereto, recognizing that irreparable injury will result to the Company, the Bank and/or their affiliates, and their business and property in the 

  
 8 

 
event of Executive’s breach of this Section, agree that, in the event of any such breach by Executive, the Company and the Bank will be entitled, in addition to any other remedies and
damages available, to an injunction to restrain the violation hereof by Executive and all persons acting for or with Executive. Nothing herein will be construed as prohibiting the Company and the Bank from pursuing any other remedies available to
them for such breach or threatened breach, including the recovery of damages from Executive. 
 10. Section 409A
of the Code. 
 This Agreement is intended to comply with the requirements of Section 409A of the
Code (including the exceptions thereto), to the extent applicable, and the Company shall administer and interpret this Agreement in accordance with such requirements. If any provision contained in the Agreement conflicts with the requirements
of Section 409A of the Code (or the exemptions intended to apply under the Agreement), the Agreement shall be deemed to be reformed to comply with the requirements of Section 409A of the Code (or the applicable exemptions
thereto). Notwithstanding anything to the contrary herein, for purposes of determining any entitlement of Executive to the CIC Severance Benefits, (i) Executive’s employment shall not be deemed to have terminated unless and until
Executive incurs a “separation from service” as defined in Section 409A of the Code. Reimbursement of any expenses provided for in this Agreement shall be made promptly upon presentation of documentation in accordance with
Provident’s policies with respect thereto as in effect from time to time (but in no event later than the end of calendar year following the year such expenses were incurred); provided, however, that in no event shall the amount of
expenses eligible for reimbursement hereunder during a calendar year affect the expenses eligible for reimbursement in any other taxable year. Notwithstanding anything to the contrary herein, if a payment or benefit under this Agreement is due
to a “separation from service” for purposes of the rules under Treas. Reg. § 1.409A-3(i)(2) (payments to specified employees upon a separation from service) and Executive is determined to be a “specified employee” (as
determined under Treas. Reg. § 1.409A-1(i) and related Company procedures), such payment shall, to the extent necessary to comply with the requirements of Section 409A of the Code, be made on the later of (x) the date specified by the
foregoing provisions of this Agreement or (y) the date that is six (6) months after the date of Executive’s separation from service (or, if earlier, the date of Executive’s death). Any installment payments that are delayed
pursuant to this Section 10 shall be accumulated and paid in a lump sum on the first day of the seventh month following the Date of Termination (or, if earlier, upon Executive’s death) and the remaining installment payments shall begin on
such date in accordance with the schedule provided in this Agreement. Each installment of the CIC COBRA Payments shall be deemed to be a separate payment for purposes of Section 409A of the Code. The CIC Severance Benefits are intended not
to constitute deferred compensation subject to Section 409A of the Code.
 11. Additional Termination and
Suspension Provisions 
 (a) If Executive is suspended and/or temporarily prohibited from participating in the
conduct of the Bank’s affairs by a notice served under Section 8(e)(3) or (g)(1) of the Federal Deposit Insurance Act, as amended (12 U.S.C. §§ 1818(e)(3) and (g)(1)), all obligations of the Company and the Bank under this
Agreement shall be suspended as of the date of service unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Company and 

  
 9 

 
the Bank may in their discretion (but subject in all events to the requirements of Code Section 409A), (i) pay Executive all of the compensation withheld while the Company’s and
the Bank’s obligations under this Agreement were suspended and (ii) reinstate (in whole) any of the Company’s and the Bank’s obligations which were suspended, and in exercising such discretion, the Company and the Bank shall
consider the facts and make a decision promptly following such dismissal of charges and act in good faith in deciding whether to pay any withheld compensation to Executive and to reinstate any suspended obligations of the Company and the Bank.

 (b) If Executive is removed and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an
order issued under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, as amended (12 U.S.C. §§ 1818(e)(4) or (g)(1)), all obligations of the Company and the Bank under this Agreement shall terminate as of the effective
date of the order, but vested rights of the parties shall not be affected. 
 (c) If the Bank is in default, as defined in
Section 3(x)(1) of the Federal Deposit Insurance Act, as amended (12 U.S.C. § 1813(x)(1)), all obligations of the Company and the Bank under this Agreement shall terminate as of the date of default, but this provision shall not affect any
vested rights of the parties. 
 (d) All obligations under this Agreement shall be terminated, except to the extent determined
that continuation of this Agreement is necessary for the continued operation of the Bank, (i) by the OTS or other applicable banking regulator (the “Regulator”), at the time the FDIC 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, as amended; or (ii) by the Regulator, at the time the Regulator approves a supervisory merger to resolve problems related to
operation of the Bank or when the Bank is determined by the Regulator to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action. 

(e) If any regulation applicable to the Company or the Bank shall hereafter be adopted, amended or modified or if any new regulation
applicable to the Company or the Bank and effective after the date of this Agreement: 
 (i) shall require the inclusion in this
Agreement of a provision not presently included in this Agreement, then the foregoing provisions of this Section shall be deemed amended to the extent necessary to give effect in this Agreement to any such amended, modified or new regulation; and

 (ii) shall permit the exclusion of a limitation in this Agreement on the payment to Executive of an amount or benefit
provided for presently in this Agreement, then the foregoing provisions of this Section shall be deemed amended to the extent permissible to exclude from this Agreement any such limitation previously required to be included in this Agreement by a
regulation prior to its amendment, modification or repeal. 
 12. Arbitration. Any dispute or controversy
arising out of, under, in connection with, or relating to this Agreement or any amendment hereof shall be submitted to binding arbitration before one arbitrator in Rockland County, New York in accordance with the Commercial

  
 10 

 
Arbitration Rules of the American Arbitration Association for expedited arbitration, and any judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction
thereof. 
 13. Notices. The persons or addresses to which mailings or deliveries shall be made may change
from time to time by notice given pursuant to the provisions of this Section. Any notice or other communication given pursuant to the provisions of this Section shall be deemed to have been given (a) if sent by messenger, upon personal delivery
to the party to whom the notice is directed; (b) if sent by reputable overnight courier, one business day after delivery to such courier; (c) if sent by facsimile, upon electronic or telephonic confirmation of receipt from the receiving
facsimile machine and (d) if sent by mail, three business days following deposit in the United States mail, properly addressed, postage prepaid, certified or registered mail with return receipt requested. All notices required or permitted to be
given hereunder shall be addressed as follows: 
  

			
	If to Executive:	 	Stephen V. Masterson
		 	  

		 	  

		
	If to the Company or the Bank:	 	 Provident New York Bancorp or Provident Bank as applicable
 400 Rella Boulevard

		 	Montebello, New York 10901
		 	Attention: Chief Executive Officer

 14. Amendment. No modifications of this Agreement shall be valid unless made in
writing and signed by the parties hereto. 
 15. Miscellaneous 

(a) Successors and Assigns. This Agreement will inure to the benefit of and be binding upon Executive, his legal representatives
and estate and intestate distributees, and the Company and the Bank, their successors and assigns, including any successor by merger or consolidation or a statutory receiver or any other person or firm or corporation to which all or substantially
all of the assets and business of the Company or the Bank, as applicable, may be sold or otherwise transferred. Any such successor of the Company or the Bank shall be deemed to have assumed this Agreement and to have become obligated hereunder to
the same extent as the Company or the Bank, as applicable, and Executive’s obligations hereunder shall continue in favor of such successor. 
 (b) Severability. A determination that any provision of this Agreement is invalid or unenforceable shall not affect the validity or enforceability of any other provision hereof. 

(c) Waiver. Failure to insist upon strict compliance with any terms, covenants or conditions hereof shall not be deemed a waiver
of such term, covenant or condition. A waiver of any provision of this Agreement must be made in writing, designated as a waiver, and signed by the party against whom its enforcement is sought. Any waiver or relinquishment or any right or power
hereunder at any one or more times shall not be deemed a waiver or relinquishment of such right or power at any other time or times. 

  
 11 

 (d) Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, and all of which shall constitute one and the same Agreement. 
 (e) Governing Law.
This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without reference to conflicts of law principles, except to the extent governed by federal law in which case federal law shall
govern. Any payments made to Executive pursuant to this Agreement or otherwise are subject to all applicable banking laws and regulations, including, without limitation, 12 U.S.C. § 1828 (k) and any regulations promulgated thereunder.

 (f) Withholding. The Company and the Bank may withhold from any amounts payable to Executive hereunder all federal,
state, city or other taxes that the Company or the Bank may reasonably determine are required to be withheld pursuant to any applicable law or regulation (it being understood, that Executive shall be responsible for payment of all taxes in respect
of the payments and benefits provided herein). 
 (g) Headings and Construction. The headings of sections in this
Agreement are for convenience of reference only and are not intended to qualify the meaning of any Section. Any reference to a Section number shall refer to a Section of this Agreement, unless otherwise specified. 

(h) Entire Agreement. This instrument contains the entire agreement of the parties relating to the subject matter hereof, and
supersedes in its entirety any and all prior agreements, understandings or representations relating to the subject matter hereof. 
 [Signatures on next page] 

  
 12 

 IN WITNESS WHEREOF, the Company and the Bank have caused this Agreement to be
executed and Executive has hereunto set his hand, all as of the Effective Date specified above. 
  

							
		 		 		 	EXECUTIVE
				
	 January 9, 2012
	 		 		 	 /s/ Stephen V. Masterson

	Date	 		 		 	Stephen V. Masterson
				
		 		 		 	PROVIDENT NEW YORK BANCORP
				
	 January 9, 2012
	 		 		 	 /s/ Jack Kopnisky

	Date	 		 		 	By:
				
		 		 		 	PROVIDENT BANK
				
	 January 9, 2012
	 		 		 	 /s/ Jack Kopnisky

	Date	 		 		 	By:

  
 13

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