Document:

EXHIBIT 10.7

 Exhibit 10.7 
 THE COMMUNITY BANK, A MASSACHUSETTS 
 COOPERATIVE BANK, EMPLOYEE 
 SEVERANCE COMPENSATION PLAN 
  

	A.	Purpose. 

 The primary purpose of The
Community Bank Employee Severance Compensation Plan (the “Plan”) is to ensure the successful continuation of the business of The Community Bank, a Massachusetts Cooperative Bank (the “Bank”) and the fair and equitable treatment
of the Bank’s employees in the event of a Change in Control (as defined below). 
  

	B.	Eligible Employees. 

 Subject to paragraph C
below, any employee of the Bank with at least one year of service as of his or her termination date (“Eligible Employee”) shall be eligible to receive a Change in Control Severance Benefit (as defined below) if, within the period beginning
on the effective date of a Change in Control and ending on the first anniversary of such date, (i) the Eligible Employee’s employment with the Bank is involuntarily terminated, or (ii) the Eligible Employee terminates employment with
the Bank voluntarily after being offered continued employment in a position that is not a Comparable Position (as defined below). 
  

	C.	Limitations on Eligibility for Change in Control Severance Benefits or Management Restructuring Benefits. 

  

	 	(1)	No employee shall be eligible for a Change in Control Severance Benefit if (a) his or her employment is terminated for “Cause,” (b) he or she is offered a
Comparable Position and declines to accept such position, or (c) the employee is, at the time of termination of employment, a party to an individual employment agreement or change in control agreement with the Bank and/or any holding company of
the Bank (the “Company”). 

  

	 	(2)	For purposes of this Plan, a termination of employment for “Cause” shall include termination because of the employee’s act of dishonesty, willful misconduct, breach
of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, or regulation (other than minor traffic violations or similar offenses), any felony conviction, any violation of law
involving moral turpitude, or final cease-and-desist order issued by a bank regulatory agency, or material breach of any provision of the Plan. 

  

	 	(3)	For purposes of this Plan, a “Comparable Position” shall mean a position that would (a) provide the employee with base compensation and benefits that are comparable
in the aggregate to those provided to the employee prior to the Change in Control; (b) be in a location that would not require the employee to increase his or her daily one way commuting distance by more than twenty-five (25) miles as
compared to the employee’s commuting distance immediately prior to the Change in Control; and (c) have job skill requirements and duties that are comparable to the requirements and duties of the position held by the employee prior to the
Change in Control. 

	D.	Definitions of Change in Control. 

 For
purposes of this Plan, “Change in Control” means the occurrence of any one or more of the following events: 
  

	 	(1)	Merger: The Company merges into, or consolidated with, another corporation, or merges another corporation into the Company, and as a result less than a majority of the
combined voting power of the resulting corporation immediately after the merger or consolidation is held by persons who were stockholders of the Company immediately before the merger or consolidation. 

  

	 	(2)	Acquisition of Significant Share Ownership: There is filed, or required to be filed, a report on Schedule 13D or another form or schedule (other than Schedule 13G) required
under Sections 13(d) or 14(d) of the Securities Exchange Act of 1934, if the schedule discloses that the filing person or persons acting in concert has, or have become, the beneficial owner of 25% or more of a class of the Company’s voting
securities, but this clause shall not apply to the beneficial ownership of Company voting shares held in a fiduciary capacity by an entity of which the Company directly or indirectly beneficially owns 50% or more of its outstanding voting
securities. 

   

	 	 (3)
	 Change in Board Composition: During any period of two consecutive years, individuals who constitute the
Company’s Board of Directors at the beginning of the two-year period cease for any reason to constitute at least a majority of the Company’s Board of Directors; provided, however, that for purposes of this clause, each director who is
first elected by the board (or first nominated by the board for election by the stockholders) by a vote of at least two-thirds ( 2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or 

  

	 	(4)	Sale of Assets: The Company sells to a third party all, or substantially all, of its assets. 

  

	E.	Determination of the Change in Control Severance Benefit. 

  

	 	(1)	The Change in Control Severance Benefit payable to an Eligible Employee under this Plan shall be determined under the following schedule: 

  

	 	(a)	An Eligible Employee (other than an officer of the Bank or Company at the Vice President level or higher) shall receive a Change in Control Severance Benefit equal to the product of
(i) the Eligible Employee’s years of service from his or her hire date (including partial years) through the termination date and (ii) an amount equal to two (2) weeks of the employee’s Base Compensation (as defined below),
subject to the limitations set forth in the third paragraph below. A “year of service” shall mean each 12-month period of service following the hire date determined without regard the number of hours worked during such period(s). The
minimum payment to an Eligible Employee under this paragraph shall be an amount equal to four (4) weeks of Base Compensation and the maximum payment to an Eligible Employee under this paragraph shall be an amount equal to twenty-six
(26) weeks of Base Compensation. 

  

 2 

	 	(b)	An Eligible Employee who is an officer of the Bank or the Company at the Vice President level or higher shall receive a Change in Control Severance Benefit equal to fifty-two
(52) weeks of Base Compensation. 

  

	 	(c)	The Change in Control Severance Benefit shall be paid in a lump sum no later than thirty (30) business days after the date of the Eligible Employee’s termination of
employment. 

  

	 	(d)	Notwithstanding anything else in this paragraph E, an employee’s employment shall not be deemed to have been terminated unless and until the employee has a Separation from
Service within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). For purposes of this Agreement, a “Separation from Service” shall have occurred if the Bank and employee reasonably
anticipate that either no further services will be performed by the employee after the date of the termination (whether as an employee or as an independent contractor) or the level of further services performed will not exceed 49% of the average
level of bona fide services in the thirty-six (36) months immediately preceding the termination. For all purposes hereunder, the definition of Separation from Service shall be interpreted consistent with Treasury Regulation
Section 1.409A-1(h)(ii). 

  

	(2)	For purpose of determinations under this paragraph E, “Base Compensation” shall mean: 

  

	 	(a)	For salaried employees, the employee’s annual base salary at the rate in effect on his or her termination date or, if greater, the rate in effect on the date immediately
preceding the Change in Control. 

  

	 	(b)	For employees whose compensation is determined in whole or in part on the basis of commission income, the employee’s base salary at termination (or, if greater, the
employee’s base salary on the date immediately preceding the effective date of the Change in Control), if any, plus the commissions earned by the employee in the twelve (12) full calendar months preceding his or her termination date (or,
if greater, the commissions earned in the twelve (12) full calendar months immediately preceding the effective date of the Change in Control). 

  

	 	(c)	For hourly employees, the employee’s base hourly rate multiplied by the employee’s normal scheduled hours (exclusive of overtime pay) for the twelve (12) full
calendar months preceding his or her termination date or, if greater, the twelve (12) full calendar months preceding the effective date of the Change in Control. 

   

	F.	Withholding. 

 All payments will be subject
to customary withholding for federal, state and local tax purposes. 
  

 3 

	G.	Parachute Payment. 

 Notwithstanding anything
in this Plan to the contrary, if a Change in Control Severance Benefit to an employee who is a “Disqualified Individual” shall be in an amount which includes an “Excess Parachute Payment,” taking into account payments under this
Plan and otherwise, the benefit payable under this Plan shall be reduced to the maximum amount which does not include an Excess Parachute Payment. The terms “Disqualified Individual” and “Excess Parachute Payment” shall have the
same meanings as under Code Section 280G, or any successor provision thereto. 
  

	H.	Administration. 

 The Plan is administered by
the Board of Directors, which shall have the discretion to interpret the terms of the Plan and to make all determinations about eligibility and payment of benefits. All decisions of the Board of Directors, any action taken by the Board of Directors
with respect to the Plan and within the powers granted to the Board of Directors under the Plan, and any interpretation by the Board of Directors of any term or condition of the Plan, are conclusive and binding on all persons, and will be given the
maximum possible deference allowed by law. The Board of Directors may delegate and reallocate any authority and responsibility with respect to the Plan. 
  

	I.	Source of Payments. 

 Unless otherwise
determined by the Board of Directors, all payments and benefits provided under this Agreement shall be paid solely by the Bank. Notwithstanding anything in this Agreement to the contrary, no provision of this Agreement shall be construed so as to
result in the duplication of any payment or benefit. 
  

	J.	Inalienability. 

 In no event may any
employee sell, transfer, anticipate, assign or otherwise dispose of any right or interest under the Plan. At no time will any such right or interest be subject to the claims of creditors, nor liable to attachment, execution or other legal process.

  

	K.	Governing Law. 

 The provisions of the Plan
will be construed, administered and enforced in accordance with the laws of the Commonwealth of Massachusetts, except to the extent that federal law applies. 
  

	L.	Severability. 

 If any provision of the Plan
is held invalid or unenforceable, its invalidity or unenforceability will not affect any other provision of the Plan, and the Plan will be construed and enforced as if such provision had not been included. 
  

	M.	No Employment Rights. 

 Neither the
establishment nor the terms of this Plan shall be held or construed to confer 

  

 4 

 
upon any employee the right to a continuation of employment by the Bank, nor constitute a contract of employment, express or implied. The Bank reserves the
right to dismiss or otherwise deal with any employee to the same extent and on the same basis as though this Plan had not been adopted. Nothing in this Plan is intended to alter the at-will status of the Bank’s employees, it being understood
that, except to the extent otherwise expressly set forth to the contrary in an individual employment-related agreement, the employment of any employee may be terminated at any time by either the Bank or the employee with or without cause.

  

	N.	Amendment and Termination. 

 The Plan may be
terminated or amended in any respect by resolution adopted by a majority of the Board of Directors, unless a Change in Control has previously occurred. If a Change in Control occurs, the Plan no longer shall be subject to amendment, change,
substitution, deletion, revocation or termination in any respect whatsoever. The form of any proper amendment or termination of the Plan shall be a written instrument signed by a duly authorized officer or officers of the Bank, certifying that the
amendment or termination has been approved by the Board of Directors. A proper amendment of the Plan automatically shall effect a corresponding amendment to each Participant’s rights hereunder. A proper termination of the Plan automatically
shall effect a termination of all employees’ rights and benefits hereunder. 
  

	O.	Required Provisions. 

  

	 	(1)	In the event any of the provisions of this Section O are in conflict with the terms of this Plan, this Section O shall prevail. 

  

	 	(2)	The Board of Directors may terminate an employee’s employment at any time, but any termination by the Bank, other than termination for Cause, shall not prejudice an
employee’s right to compensation or other benefits under this Plan if such termination occurs at or following a Change in Control in accordance with Paragraph B above. An employee shall not have the right to receive compensation or other
benefits for any period after Termination for Cause. 

   

	 	(3)	Any payments made to employees pursuant to this Plan, or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C. §1828(k) and FDIC regulation 12 C.F.R.
Part 359, Golden Parachute and Indemnification Payments. 

  

 5 

 This plan has been approved and adopted by the Board of Directors and is effective as of
            , 2008. 
  

									
		 		 		 	THE COMMUNITY BANK, A
MASSACHUSETTS COOPERATIVE BANK
					
	Attest:	 	  
	 		 	By:	 	  

  

 6EXHIBIT 10.9

 Exhibit 10.9 
 DAVID W. CURTIS 
  AMENDED AND RESTATED SUPPLEMENTAL COMPENSATION AGREEMENT 
 THIS AMENDED AND RESTATED SUPPLEMENTAL COMPENSATION AGREEMENT (this “Agreement”) is adopted effective as of
            , 2008 by and between The Community Bank (the “Bank”) and David W. Curtis (hereinafter called the “Executive”). 
  WITNESSETH: 
  WHEREAS, the Bank and the
Executive entered into a supplemental compensation agreement on May 1, 2002 (the “Original Agreement”); and 
 WHEREAS,
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), effective January 1, 2005, requires deferred compensation arrangements to comply with its provisions and restrictions and limitations on payments of
deferred compensation; and 
 WHEREAS, the Bank desires to amend and restate the Original Agreement in order to make changes to comply with
Section 409A of the Code, and to make certain other changes; and 

  WHEREAS, the Executive has agreed to such changes. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and conditions hereinafter set forth, the Bank and the Executive hereby agree
as follows: 
  ARTICLE ONE 
  

	1.01	Employment. The Board of Directors of the Bank may employ the Executive in such capacity as the Bank may from time to time determine. Notwithstanding anything contained
herein, this Agreement is not an agreement of employment and shall not be deemed to confer upon the Executive any rights to continue his employment with the Bank. Nothing herein shall restrict the right of the Executive to enter into an agreement
with the Bank concerning any terms and conditions of his employment. 

 The benefits provided by this Agreement
are not part of any salary reduction plan or an arrangement deferring a bonus or a salary increase. The Executive has no option to take any current payment or bonus in lieu of these salary continuation benefits. 
 ARTICLE TWO 
  

	 2.01
	 Normal Retirement Benefits. If the Executive shall continue in the employment of the Bank until his sixty-seventh
(67th) birthday (“Normal Retirement Date”), and subject to Section 5.03, he shall be entitled to a retirement benefit paid by
the Bank commencing on the first day of the month (or later, as may be required by Section 10.04) next following the termination for any reason, other than death or termination for Cause (as defined in Section 5.04 below), of his
employment with the Bank on or at any time after such Normal Retirement Date and continuing during his lifetime, payable monthly, in the annual amount of $100,000. 

  

	2.02	 Accrued Benefit. As used herein the term “Accrued Benefit” shall mean, in any case in which the Executive’s employment with the Bank is
terminated for any reason prior to the Normal Retirement Date, the product of (a) $100,000 multiplied 

   

 2 

	 	 
by (b) a fraction, the numerator of which is the actual number of full calendar months of employment with the Bank completed by the Executive as of the
date of such termination, and the denominator of which is the total number of full calendar months of employment with the Bank that the Executive would have completed had he continued his employment with the Bank until the Normal Retirement Date.

  

	2.03	Optional Forms of Payment. In lieu of the lifetime payments provided in Section 2.01 above, or whenever an Accrued Benefit is payable under this Agreement, with the sole
approval of the Bank, the Executive may request in the calendar year prior to the calendar year in which payments are to begin an optional form of payment which shall be the actuarial equivalent of the said lifetime payments and which shall be any
optional form other than a lump sum which is provided the Executive under the terms of the Bank’s qualified pension plan (the “Annuity Payment”); provided that the Annuity Payment provides (a) the same scheduled date for the
first annuity payment, (b) the Annuity Payments are actuarially equivalent applying reasonable actuarial methods and assumptions, and (c) and otherwise complies with Treasury Regulation Section 1.409A-2 and Section 409A of the
Code. 

  ARTICLE THREE 
  

	3.01	Death of Executive During Employment or Disability. Should the Executive die while actively employed with the Bank, whether before or after the Normal Retirement Date, or
should he die while disabled and receiving benefits from the Bank’s long term disability plan, the Executive’s named beneficiary, if any, shall be entitled to receive ninety (90) percent of an amount equal to (a) the total
proceeds of Policy No. 56601291 issued by New York Life Insurance and Annuity Corporation or any substitute therefor, less (b) the cash surrender value of such policy as of the date of his death, paid in one lump sum, within sixty
(60) days of such death, and no further benefits shall be paid or payable under this Agreement. 

  

	3.02	 Death of Executive After Termination of Employment. Upon the Executive’s death following the termination of his employment for any reason, other than
termination for Cause as defined in Section 5.04 below, whether such termination occurs before or after the 

   

 3 

	 	 
Normal Retirement Date, the Executive’s named beneficiary, if any, shall be entitled to receive fifty (50) percent of an amount equal to the
product of (a) 0.90 and (b) the difference between (i) the total proceeds of Policy No. 56601291 issued by New York Life Insurance and Annuity Corporation or any substitute therefore and (ii) the cash surrender value of such
policy as of the date of his death, paid in one lump sum, within sixty (60) days of such death, and no further benefits shall be paid or payable under this “Agreement other than as may be required in accordance with the terms of any
optional form of payment that the Executive may have chosen prior to his death, with the approval of the Bank, pursuant to Section 2.03 above. 

  

	3.03	Death Benefit Forfeiture. Anything to the contrary in this Agreement notwithstanding, the death benefit provided in either Section 3.01 or Section 3.02 above shall
become null and void should the Bank not receive for any reason the proceeds of Policy Number 56601291 issued by New York Life Insurance and Annuity Corporation or any policy substituted therefore. 

  ARTICLE FOUR 
  

	4.01	Disability of Executive. In the event the Executive becomes disabled and is receiving benefits from the Bank’s long term disability plan, he shall continue to accrue
months of employment service during such period of disability, including during any waiting period required by the Bank’s long term disability plan, for purpose of calculating any Accrued Benefit under Section 2.02 of this Agreement. This
continuing accrual of employment service shall terminate effective with the last month for which such disability benefits are paid. 

  ARTICLE FIVE 
  

	5.01	 Termination of Employment or Discharge. In the event that the Executive’s employment with the Bank is terminated for any reason prior to the Normal
Retirement Date, whether such termination is initiated by the Bank or by the Executive, other than any such termination within twenty-four (24) months following a Change in Control (as defined in Section 10.01) or any such termination
resulting from death, disability or Cause as defined in Section 5.04 below, and subject to the limitations 

   

 4 

	 	 
set forth further below in Sections 5.01, 5.03 and 10.04, the Executive shall be entitled to an annual benefit payable monthly commencing at the Normal
Retirement Date and continuing for his lifetime, which shall be his Accrued Benefit determined in accordance with Section 2.02 above as of the date of his termination of employment. Such Accrued Benefit shall be multiplied by a percentage based
on the following table (for purposes of this Agreement, the Anniversary shall occur on May 1st of each year with the first Anniversary on
May 1, 2003): 

   

				
	 Anniversary of this Agreement
	  	Percentage
Multiple	 
	 Before second
	  	0	%
	 After second, before third
	  	40	%
	 After third, before fourth
	  	60	%
	 After fourth, before fifth
	  	0	%
	 After fifth
	  	100	%

    

	5.02	[This Section Intentionally Blank] 

  

	5.03	 Employment by Competition. Anything to the contrary in this Agreement notwithstanding, in the event of termination of the Executive’s employment with
the Bank for any reason, payments that might otherwise be due and payable under the terms of this Agreement will be forfeited and this Agreement shall become null and void should the Executive become an owner or partner or be employed in any way,
including employment as a consultant, by a competitor of the Bank (as determined by a vote of two-thirds of the outside directors of the Bank and its parent mutual holding company voting as a single body), which has an office within twenty-five
(25) miles of 

   

 5 

	 	 
any branch or other office of the Bank, at any time within twenty-four months following any such termination of employment with the Bank; provided, however,
that the provisions of this Section 5.03 shall not apply, and shall have no further force or effect, upon and following the occurrence of a Change in Control. 

  

	5.04	 Forfeiture. Anything to the contrary in this Agreement notwithstanding, benefits under this Agreement shall be forfeited and all rights of the Executive and
his beneficiaries shall become null and void, if the Executive’s employment is terminated for Cause. For purposes of this Agreement, termination of the Executive’s employment for “Cause” shall mean termination on the basis of
(i) the Executive’s willful and continued failure to substantially perform his employment duties (other than any such failure resulting from the Executive’s death or incapacity due to physical or mental illness) after (A) a
written demand for substantial performance is delivered to the Executive jointly by the respective Chairpersons of the Bank’s and its parent mutual holding company’s Board of Directors, which demand specifically identifies the manner in
which the Bank’s and its parent mutual holding company’s Board of Directors believes that the Executive has not substantially performed his employment duties, and (B) the Executive has been afforded a reasonable opportunity to meet
jointly with the Bank’s and its parent mutual holding company’s Board of Directors regarding such assertions of nonperformance, or (ii) the Executive’s willfully engaging in conduct which is demonstrably and materially injurious
to the Bank, monetarily or otherwise. For purposes of this Section 5.04, no act, or failure to act, on the part of the Executive shall be deemed “willful” unless done, or omitted to be done, by the Executive not in good faith and
without reasonable belief that his action or omission was in the best interests of the Bank. The Executive shall be deemed to have been terminated for Cause only at such time as there shall have been delivered to him a written notice of termination
by the Bank, which has been duly adopted by the affirmative vote of not less than a majority in number of the entire membership of the Bank’s and its parent mutual holding company’s Board of Directors (excluding the Executive if he is then
a director of either the Bank or its parent mutual holding company or both) voting together as a single body at a joint meeting of such Boards of Directors duly called and held to 

   

 6 

 
consider such proposed termination of the Executive, and which states that, in the good faith opinion of such Boards of Directors, the Executive has acted or
failed to act in such a way that constitutes conduct set forth above in this Section 5.04 and specifies in detail the acts or omissions that constitute such conduct and serves as the basis for such termination for Cause. 
 ARTICLE SIX 
  

	6.01	Interest. Unless otherwise expressly provided herein, any reference to “interest” shall be a variable rate of interest which shall be the rate of interest on 90-day
U.S. Treasury Bills determined at the first auction of each calendar month or part thereof during the period of which interest is to be applied to any obligation hereunder. 

  ARTICLE SEVEN 
  

	7.01	Alienability. Neither the Executive, his widow, nor any other beneficiary under this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate,
mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance, owed by the Executive
or his beneficiary or any of them, or be transferable by operation of law in the event of bankruptcy, or otherwise. 

 ARTICLE EIGHT 
  

	8.01	Participation in Other Plans. Nothing contained in this Agreement shall be construed to alter, abridge, or in any manner affect the rights and privileges of the Executive to
participate in and be covered by any pension, profit-sharing, group insurance, bonus or any other employee plan or plans which the Bank may have or hereafter have. 

 ARTICLE NINE 
  

	9.01	 Funding. The Bank reserves the absolute right at its sole and exclusive discretion to insure and otherwise provide for the obligations of the Bank
undertaken by 

   

 7 

	 	 
this Agreement or to refrain from same, and to determine the extent, nature and method thereof, including the establishment of one or more trusts. Should the
Bank elect to insure this Agreement, in whole or in part, through the medium of insurance or annuities, or both, the Bank shall be the owner of the Policy. At no time shall the Executive or any beneficiary thereof be deemed to have any right, title
or interest in or to any specified asset or assets of the Bank or any trust or escrow arrangement, including, but not by way of restriction, any insurance or annuity contract or contracts or the proceeds therefrom, except as provided in Sections
3.01 and 3.02 above. Any such policy, contract or asset shall not in any way be considered to be security for the performance of the obligations of this Agreement. 

 If the Bank purchases a life insurance or annuity policy on the life of the Executive, he agrees to sign any papers that may be required
for that purpose and to undergo any medical examination or tests which may be necessary, and generally cooperate with the Bank in securing such policy. 
 ARTICLE TEN 
  

	10.01	Change in Control. For purposes of this Agreement, the term “Change in Control” shall mean any change in the ownership or effective control of the Bank or its
parent mutual holding company, or in the ownership of a substantial portion of the assets of the Bank or its parent mutual holding company, as such change is defined in Section 409A of the Code, and the regulations issued thereunder (the
“Regulations”); provided, however, that under no circumstances shall any conversion of the Bank’s parent mutual holding company from mutual to stock form or any issuance of a minority interest in the Bank or any middle-tier stock
holding company constitute on its own a Change in Control for purposes of this Agreement. The Bank shall not consummate any transaction or series of related transactions that results in, or enter into any agreement that provides for or would result
in, a Change in Control, unless and until any successor or continuing entity or person agrees to assume and discharge the obligations of the Bank under this Agreement. Upon the occurrence of a Change in Control, the term “Bank” as used in
this Agreement shall be deemed to refer to any such successor or continuing entity or person. 

   

 8 

	10.02	Termination of Employment after Change in Control. Should the Executive’s employment with the Bank terminate for any reason, whether such termination is initiated by the
Bank or by the Executive, other than as a result of death, disability or Cause (as defined in Section 5.04 below), within twenty-four (24) months following the occurrence of a Change in Control and prior to the Normal Retirement Date, he
shall continue to accrue months of employment service until the Normal Retirement Date and shall be entitled to benefits, as may be appropriate, pursuant to Section 2.01 of this Agreement. 

  

	10.03	Definition of Separation from Service. For purposes of this Agreement, termination of the Executive’s employment as used herein shall be construed to require a
“Separation from Service” as defined in Code Section 409A and the Treasury Regulations promulgated thereunder, provided, however, that the Bank and the Executive reasonably anticipate that the level of bona fide services the Executive
would perform after termination would permanently decrease to a level that is less than 50% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period.

  

	10.04	 Restriction on Timing of Distributions. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a
Specified Employee (as defined in Section 10.05), the provisions of this Section 10.04 shall govern all distributions under this Agreement. Benefit distributions which would otherwise be made to the Executive due to a termination of
employment, pursuant to Sections 2.01 and 5.01, shall not be made during the first six (6) months following the date of the Executive’s termination of employment. Rather, any distribution which would otherwise be paid to the Executive
during such period shall be accumulated and paid to the 

   

 9 

	 	 
Executive in a lump sum on the first day of the seventh month following the date of the termination of employment. All subsequent distributions shall be paid
in the manner specified in this Agreement. 

  

	10.05	Specified Employee means an employee who at the time of termination of employment is a key employee of the Bank, if any stock of a company owning 100% of the common stock of the
Bank is publicly traded on an established securities market or otherwise. For purposes of this Agreement, an employee is a key employee if the employee meets the requirements of Code Section 416(i)(1)(A)(i), (ii), or (iii) (applied in
accordance with the regulations thereunder and disregarding section 416(i)(5)) at any time during the 12-month period ending on December 31 (the “identification period”). If the employee is a key employee during an identification
period, the employee is treated as a key employee for purposes of this Agreement during the twelve (12) month period that begins on the first day of April following the close of the identification period. 

  ARTICLE ELEVEN 
  

	11.01	Benefits and Burdens. This Agreement shall be binding upon and inure to the benefit of the Executive, his beneficiaries and his personal representatives, and the Bank, and
any successor organization, including without limitation any person or entity that shall succeed to substantially all of the Bank’s assets and business without regard to the form of such succession. 

  

	11.02	Bank. As used in this Agreement, Bank shall mean The Community Bank, its subsidiaries and affiliates and any successor organization.  

  ARTICLE TWELVE 
  

	12.01	Communications. Any notice or communication required of either party with respect to this Agreement shall be made in writing and may either be delivered personally or
sent by First Class mail, as the case may be: 

   

 10 

 To the Bank: 
 The Community Bank 
 1265 Belmont Street - P.O. Box 3035 
 Brockton, MA 02304 
 Attention: Chairman 
 To the Executive: 
 David W. Curtis 
 170 Main Street Sandwich, MA 02563 
 Each party shall have the right by written notice to change the place to which any notice may be addressed. 
 ARTICLE THIRTEEN 
  

	13.01	Claims Procedure. In the event that benefits under this Agreement are not paid to the Executive (or his beneficiary in the case of the Executive’s death), and such
person feels entitled to receive them under the terms of this Agreement, a claim shall be made in writing to the Bank within sixty (60) days after written notice from the Bank to the Executive or his beneficiary or personal representative that
payments are not being made or are not to be made under this Agreement, or, within sixty (60) days after the date such benefit should have been paid under this Agreement according to such claimant. Such claim shall be reviewed by the Bank. If
the claim is approved or denied, in full or in part, the Bank shall provide a written notice of approval or denial within sixty (60) days setting forth the specific reason for denial, specific reference to the provisions of this Agreement upon
which the denial is based, and any additional material or information necessary to perfect the claim, if any. Also, such written notice shall indicate the steps to be taken if a review of the denial is desired. If a claim is denied (a claim shall be
deemed denied if the Bank does not take action within the aforesaid sixty (60) day period) and a review is desired, the Executive (or beneficiary or personal representative in the case of the Executive’s death) shall notify the Bank in
writing within twenty (20) business days from the earlier of the date of the denial or the end of such sixty (60) day period. In requesting a review, the Executive or his beneficiary or personal representative may review this Agreement or
any document relating to it and submit any written issues and comments he or she may feel appropriate. In its sole discretion the Bank shall then review the claim and provide a written decision within sixty (60) days after receiving the request
for review of the denial. This decision likewise shall state the specific reasons for the decision and shall include reference to specific provisions of this Agreement on which the decision is based. 

   

 11 

 Any decision of the Bank shall not be binding on the Executive, his personal
representative, or any beneficiary without consent, nor shall it preclude further action by the Executive, his personal representative or beneficiary. 
 ARTICLE FOURTEEN 
  

	14.01	Entire Agreement. This instrument may be altered or amended only by a written agreement signed by the parties hereto. 

  

	14.02	Actions. Any action with regard to this Agreement by the Bank or the Board of Directors of the Bank shall require a majority vote of the outside directors, except as
otherwise provided herein. 

  

	14.03	Jurisdiction. The terms and conditions of this Agreement are subject to the laws of the Commonwealth of Massachusetts. 

  

	14.04	Compliance with Code Section 409A. The terms of this Agreement shall not be amended, modified or waived in any way if the effect thereof would be to change the time or
form of any payment or benefit under this Agreement, except to the extent permitted by Section 409A of the Code and the Regulations, and the provisions of this Agreement shall be construed to comply with Section 409A of the Code.

   

 12 

  IN WITNESS WHEREOF, the Bank has caused this Agreement to be duly executed by its duly authorized
officer and its Seal affixed, duly attested by its Secretary, and the Executive has hereunto set his hand at Brockton, Massachusetts the day and year first above written. 
   

							
		 		 	THE COMMUNITY BANK
				
	  
	 		 	By:	 	  

	Witness	 		 		 	
			
		 		 	EXECUTIVE
			
	  
	 		 	  

	Witness	 		 	David W. Curtis

    

 13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}]]