Document:

First Amendment to Limited Partnership Agreement

 Exhibit 10.1 
 FIRST AMENDMENT TO LIMITED PARTNERSHIP AGREEMENT OF 
 FEDERAL/LION VENTURE LP 
 THIS FIRST AMENDMENT TO LIMITED PARTNERSHIP AGREEMENT OF FEDERAL/LION VENTURE LP (this “Amendment”) is made effective as of
January 1, 2006 by and among FEDERAL REALTY INVESTMENT TRUST, a Maryland real estate investment trust (“Federal”), FEDERAL/LPF GP, INC., a Delaware corporation (“Federal GP”), CLPF-FEDERAL, L.P. a
Delaware limited partnership (Fund”) and CLPF-FEDERAL GP, LLC (Fund GP”), a Delaware limited liability company. 
 RECITALS 
 A. Federal, as a limited partner, Federal GP, as a general partner, the Fund, as a limited partner and
Fund GP, as a general partner, are parties to that certain Limited Partnership Agreement of Federal/Lion Venture LP dated as of July 1, 2004 (“Original Partnership Agreement”). 
 B. Federal, Federal GP, the Fund and Fund GP have agreed to modify certain terms and provisions of the Original Partnership Agreement as provided
in this Amendment. 
 NOW THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows. 
 1. Recitals/Definitions. The foregoing Recitals are hereby incorporated by this reference
and made a substantive part hereof. All capitalized terms used in this Amendment, whether or not otherwise defined herein, shall have the meanings for such terms set forth in the Original Partnership Agreement. Further, from and after the date
hereof, all references in the Original Partnership Agreement to the “Agreement” shall mean and refer to the Original Partnership Agreement as modified by this Amendment. 
 2. Effectiveness. Except as otherwise expressly provided in Paragraph 6 of this Amendment below, this Amendment and the terms and
provisions set forth herein shall be effective and apply only to Qualified Properties acquired by the Partnership from and after January 1, 2006. All of the terms and provisions set forth in the Original Partnership Agreement, without regard
to, or modification by, this Amendment, shall continue to apply to all Qualified Properties acquired by the Partnership prior to January 1, 2006. 
 3. Promote Amount. The definition of Promote Amount set forth in Section 1.1 of the Original Partnership Agreement is hereby modified as follows: 
 (a) by deleting the reference to “8.75%” in the first sentence thereof and replacing it with “8.25%;” and 
 (b) by deleting the reference to “2.1875%” in the third sentence thereof and replacing it with “2.0625%.” 
 4. Limitation on Partnership Indebtedness. Section 3.8(a) of the Original Partnership Agreement is hereby amended by deleting the
first sentence thereof and replacing it with the following: 
 The total debt (other than trade payables in the ordinary course of business)
of the Partnership (including debt of any SP Subsidiary and any debt secured by any Qualified Property) shall not exceed sixty-five percent (65%) of the aggregate unreturned IRR Contributions made by the Partners to the Partnership which, when
all Capital Commitments described on Schedule 2 attached hereto have been fully contributed, shall be $227,500,000 of maximum debt. 

 5. Net Cash Flow from Sales. Section 7.1(c) of the Original Partnership Agreement is
hereby deleted in its entirety and replaced with the following: 
 (c) Net Cash from Sales. Except upon liquidation,
each Partner shall have the right to receive, within thirty (30) days after the Partnership derives any Net Cash from Sales from a Qualified Property (each date upon which the Partnership distributes Net Cash from Sales being referred to herein
as a “Sales Proceeds Distribution Date”), a distribution of such Net Cash from Sales determined as provided in this Section 7.1(c). On the Sales Proceeds Distribution Date, the Partnership shall allocate the Net
Cash from Sales derived from a Qualified Property to the Partners as follows: 
 (i) First, to the Promoted Limited
Partner(s), pari passu and pro rata in accordance with the then outstanding balances of their respective Promote Accounts for the applicable Qualified Property to be applied toward the reduction of each such Promoted Limited Partner’s Promote
Account for such Qualified Property, until the outstanding balance of the Promoted Limited Partner’s Promote Account for such Qualified Property has been reduced to zero; 
 (ii) Second, to the Partners, pari passu and pro rata in accordance with the then outstanding balances of their respective Capital
Contributions Accounts for such Qualified Property to be applied toward the reduction of such Capital Contributions Accounts, until the outstanding balance of each such Capital Contributions Account is reduced to zero; 
 (iii) Third, to the Fund Partners, until the Fund Partners have received, collectively and in the aggregate pursuant to Sections
7.1(a), 7.1(b), 7.1(c)(i), 7.1(c)(ii), and this 7.1(c)(iii), amounts sufficient to provide the Fund Partners with an IRR equal to 9.0%; 
 (iv) Fourth, to the Federal Partners, until the Federal Partners have received, collectively and in the aggregate pursuant to this
Section 7.1(c)(iv), an amount equal to the product of (x) the Federal Partners’ collective Percentage Interests as of the Sales Proceeds Distribution Date, multiplied by (y) an amount equal to the
aggregate amount distributed to the Fund Partners pursuant to Section 7.1(c)(iii) above divided by the aggregate Percentage Interests of the Fund Partners as of such Sales Proceeds Distribution Date; and 
 (v) Fifth, to the Partners pro rata in accordance with their Percentage Interests (as such Percentage Interests may be adjusted from time
to time in accordance with this Agreement), until the Fund Partners have received, collectively and in the aggregate pursuant to Sections 7.1(a), 7.1(b), 7.1(c)(i), 7.1(c)(ii), 7.1(c)(iii), and this
7.1(c)(v), amounts sufficient to provide the Fund Partners with an IRR equal to 10.0%; and 
 (vi) Sixth, all remaining
Net Cash from Sales from such Qualified Property shall be distributed pro rata (1) twenty percent (20%) to Federal and (2) eighty percent (80%) to the Partners pro-rata in accordance with their Percentage Interests (as such
Percentage Interests may be adjusted from time to time pursuant to and in accordance with this Agreement). 
 Notwithstanding anything to the
contrary stated in this Section 7.1(c) above or in Section 7.2 below, if any Default Loans remain unpaid and outstanding as of any Sales Proceeds Distribution Date, then all Net Cash from Sales otherwise distributable to the
Defaulting Partner who is the “borrower” under each such Default Loan on such Sales Proceeds Distribution Date pursuant to the foregoing provisions of this Section 7.1(c) shall be paid by the Partnership directly to the
Non-Defaulting Partner who made such Default Loan until such Default Loan (including the 
  

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 principal thereof and accrued interest thereon) is paid in full, all in accordance with the terms and
provisions of Section 5.1(e)(ii) hereof. Net Cash from Sales shall not be used to acquire Qualified Properties or make capital improvements on Qualified Properties unless consented to in writing in advance by the General Partners.

 6. Notices. Section 12.1(b) of the Original Partnership Agreement is hereby amended by deleting the notice address for
Shaw Pittman LLP. Notwithstanding anything to the contrary stated or implied in this Amendment, this Paragraph 6 will be effective and apply to all operations of the Partnership from and after the effective date of this Amendment and to all
Qualified Properties (whether such Qualified Properties were acquired prior to or after the effective date of this Amendment). 
 7.
Schedule 1. Schedule 1 to the Original Partnership Agreement is hereby amended by deleting the line item identified as “Projected Returns” and replacing it with the following: 
 Projected Returns: 5.75% to 6.50% Cap Rates; 7.25% to 8.00% unleveraged IRR 
 8. Representations and Warranties. Each party hereto hereby makes the following representations and warranties to the other parties all of
which are material and are made to induce such other parties to enter into this Amendment. 
 (a) The execution and delivery of this
Amendment and the performance and observance of the covenants to be performed and observed hereunder do not violate or constitute a default in any agreement to which the representing party is a party. 
 (b) Such party (i) is duly formed or organized and validly existing and in good standing under the laws of the State of its formation or
incorporation, as the case may be, and (ii) has full power, legal capacity and authority to execute and deliver this Amendment and the documents contemplated hereby. 
 (c) This Amendment has been duly authorized, executed and delivered by such party and is enforceable against such party in accordance with its terms. 
 9. Binding Effect. This Amendment shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective legal
representatives, successors and assigns. 
 10. Conflicts. To the extent, if any, that a provision of this Amendment conflicts
with or differs from any provision of the Original Partnership Agreement with respect to the Qualified Properties for which this Amendment is applicable, such provision of this Amendment shall prevail and govern for all purposes and in all respects.

 11. Ratification. Except as expressly modified hereby, the Original Partnership Agreement is hereby ratified and affirmed
for all purposes and in all respects. 
 12. Facsimile; Counterparts. Signatures to this Amendment transmitted by facsimile or
telecopy shall be binding on the party transmitting such signatures and such party shall not use as a defense against the enforceability of this Amendment the fact that such signature so transmitted is not original. Notwithstanding the foregoing,
each party hereby agrees to cooperate in the execution and delivery of original counterpart versions of this Amendment, which, when delivered shall replace and supersede any facsimile hereof. This Amendment may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument; provided, however, in no event shall this Amendment be effective unless and until signed by all parties hereto.

  

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 IN WITNESS WHEREOF, this Amendment is executed effective as of the date first set forth above.

  

							
	Federal GP	 	Federal
		
	 FEDERAL/LPF GP, Inc., a Delaware
 Corporation
	 	 FEDERAL REALTY INVESTMENT TRUST, a
 Maryland real estate investment trust

				
	By:	 	 /s/ Dawn M. Becker
	 	By:	 	 /s/ Dawn M. Becker

		 	Dawn M. Becker	 		 	Dawn M. Becker
		 	 Vice President-General Counsel and
 Secretary
	 		 	 Executive Vice President-General Counsel and
 Secretary

  

											
	Fund GP	 	Fund
		
	 CLPF-FEDERAL GP, LLC, a Delaware limited 
 liability company
	 	 CLPF-FEDERAL, L.P. a Delaware limited
 Partnership

				
	By:	 	 CLPF-Federal, L.P., a Delaware limited
 partnership, its sole member
	 	By:	 	 CLPF-Lion/Federal LP, LLC, a Delaware
 limited liability company, its sole general partner

				
	By:	 	 CLPF-Lion/Federal LP, LLC, a Delaware
 limited liability company, its sole general
 Partner
	 	By:	 	 Clarion Lion Properties Fund Holdings, L.P.,
 a Delaware limited partnership, its sole
 member

				
	By:	 	 Clarion Lion Properties Fund Holdings, L.P.,
 a Delaware limited partnership, its sole
 member
	 	By:	 	 CLPF-Holdings, LLC, a Delaware limited
 liability company, its general partner

				
	By:	 	 CLPF-Holdings, LLC, a Delaware limited
 Liability company, its general partner
	 	By:	 	 Clarion Lion Properties Fund Holdings REIT,
 LLC, a Delaware limited liability company,
 its sole member

				
	By:	 	 Clarion Lion Properties Fund Holdings
 REIT,
LLC, a Delaware limited liability
 company, its sole member
	 	By:	 	 Clarion Lion Properties Fund, LLC, a
 Delaware limited liability company, its
 managing member

				
	By:	 	 Clarion Lion Properties Fund, LLC, a
 Delaware limited liability company, its
 managing member
	 	By:	 	 ING Clarion Partners, LLC, a New York
 limited liability company, its manager

					
	By:	 	 ING Clarion Partners, LLC, a New York
 limited liability company, its manager
	 		 	 By:
	 	 /s/ Steve Hansen

		 		 		 		 		 	Steve Hansen
		 		 		 		 		 	Authorized Signatory
		 	By:	 	 /s/ Steve Hansen
	 		 		 	
		 		 	Steve Hansen	 		 		 	
		 		 	Authorized Signatory	 		 		 	

  

 4THE COMPANY'S SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 Exhibit 10.7 
  

 SUPPLEMENTAL EXECUTIVE RETIREMENT PROGRAM 
 AGREEMENT 

 THIS AGREEMENT,
made and entered into this _____ day of ___________, 2005 by and between Camden National Corporation, its subsidiaries and affiliates, (hereinafter called the “Corporation”) and *_________________ (hereinafter called the
“Executive”). 
 WITNESSETH: 
 WHEREAS, the Corporation and the Executive are parties to a Supplemental Executive Retirement Program Agreement originally dated the 15th of May, 1997 between Camden National Corporation, its subsidiaries and affiliates that provides for the payment of certain benefits. This Supplemental Executive Retirement Program Agreement and the
benefits provided hereunder shall supercede and replace the language in the original Supplemental Executive Retirement Program Agreement and the benefits provided thereby; and 
 WHEREAS, the Executive has been in the employ of the Corporation and/or its subsidiaries and is now serving the Corporation as
_________________________; and 
 WHEREAS, because of the Executive’s experience, knowledge of affairs of the Corporation, and
reputation and contacts in the industry, the Corporation deems the Executive’s continued employment with the Corporation important for its future growth; and 
 WHEREAS, it is the desire of the Corporation and in its best interests that the Executive’s service be retained; and 
 WHEREAS, in order to induce the Executive to continue in the employ of the Corporation and in recognition of his past service, the Board of Directors voted on _______________ to authorize the Corporation to enter
into this Agreement to provide him or his beneficiaries certain benefits in accordance with the terms and conditions hereinafter set forth. 
 NOW THEREFORE, in consideration of services performed in the past and to be performed in the future as well as of the mutual promises and covenants herein contained, it is agreed as follows: 
 ARTICLE ONE 
  

	1.01	Employment. 

 The Corporation may employ
the Executive in such capacity as the Corporation may from time to time determine. Notwithstanding anything contained herein, this 

 
Agreement is not an agreement of employment. Nothing herein shall restrict the Corporation concerning other 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. 

  

	(a)	If the Executive shall continue in the employment of the Corporation until his sixty-fifth (65th) birthday (hereinafter referred to as the “Normal Retirement Date”), he shall be entitled to a Normal Retirement Benefit, determined as of the effective date of his actual retirement
and continuing until the death of the executive, payable monthly, in the annual amount of sixty-five percent (65%) of his Benefit Computation Base (hereinafter defined), reduced by; 

  

	 	1.	Fifty percent (50%) of the Executive’s (actual or estimated) Primary Social Security retirement benefit projected as of the Social Security Normal Retirement Age, based
on the Social Security retirement benefit based on his Benefit Computation Base in effect on the date of termination of the Executive (Note: If the Executive retires before age sixty-two (62), the age sixty-two (62) benefit shall be used);

  

	 	2.	The annual amount of benefits payable at the Normal Retirement Date calculated on a single life annuity basis from the total sum value of the qualified defined benefit pension
plan formerly maintained and funded by the Corporation; 

  

	 	3.	The annual amount of benefits payable at the Normal Retirement Date calculated on a single life annuity basis, using the actuarial equivalent of the portion of account balances
of the Executive arising from employer contributions (but excluding the portion of such balances arising from employee salary reduction and elective contributions) at the date of determination, from the 401(k), profit sharing and any other qualified
defined contribution retirement-oriented plans maintained by the Corporation, as such plan or plans may be amended or modified from time to time; and 

  

	 	4.	The annual amount of benefits payable at the Normal Retirement Date calculated on a single life annuity basis, using the actuarial equivalent of such amounts as may be accrued by
the Corporation for the account of the Executive under the terms of any other retirement-oriented or incentive compensation (excluding stock options and the incentive bonus plan) plan or plans that involve employer monetary contribution or
investment as may be instituted by the Corporation from time to time, all subject to the conditions and limitations hereafter set forth. 

  

 2 

 The Normal Retirement Benefit shall be the amount determined by multiplying the amount which would
otherwise be the Normal Retirement Benefit under paragraph (a) described above, by a fraction, the numerator of which is the actual number of months of the Executive’s employment with the Corporation, and the denominator of which is three
hundred (300) months. If the Executive’s employment with the Corporation exceeds three hundred (300) months, the total retirement benefit may exceed sixty-five percent (65%) of his Benefit Computation Base, up to a maximum limit
of seventy-five percent (75%) of his Benefit Computation Base. 
 If the Executive is a Key Employee, as defined by the Internal
Revenue Service, and said Corporation is publicly traded at the time of retirement, any such benefit payment shall be withheld for six (6) months following such retirement. 
  

	2.02	Benefit Computation Base. 

 The
Executive’s Benefit Computation Base shall be the average of the Executive’s salary (including any cash bonus) for the thirty-six (36) consecutive calendar months during the Executive’s period of employment by the Corporation in
which such compensation is the highest. 
  

	2.03	Accrued Benefit. 

 As used herein, the
term “Accrued Benefit” shall mean a benefit amount calculated for purposes of Section 2.01, 2.04 3.01, 4.01, 5.01, or 10.01, based on the Normal Retirement Benefits adjusted for years of service and retirement age. 
  

	2.04	Early Retirement. 

 The Executive may
retire on or after age fifty-five (55), prior to the Normal Retirement Date, and receive an annual benefit determined in accordance with Section 2.01, actuarially reduced for early commencement by the factor shown below: 
  

													
	Age	  	65	  	1.0000	  		  	Age	  	59	  	0.8800
		  	64	  	1.0000	  		  		  	58	  	0.8200
		  	63	  	1.0000	  		  		  	57	  	0.7600
		  	62	  	1.0000	  		  		  	56	  	0.7000
		  	61	  	0.9700	  		  		  	55	  	0.6400
		  	60	  	0.9400	  		  		  		  	

 For ages between those shown, the factor is to be interpolated. 
  

	2.05	Optional Forms of Payment. 

 In lieu of
the lifetime payments provided in Section 2.01 above, or whenever an Accrued Benefit is payable under Section 2.04, 4.01, or 5.01 of this Agreement, with the written 

  

 3 

 
consent of the Corporation, the Executive may elect an optional form of payment within thirty (30) days of executing this Agreement. Said benefit
shall be paid, at the election of the Executive, in either five (5) annual installments, or a lump sum actuarial equivalent of said lifetime payments. In the event that the Executive fails to choose said election, said benefit shall be paid in
monthly installments until the death of the Executive commencing on the first day of the month next following his actual retirement. If the Executive is a Key Employee, as defined by the Internal Revenue Service, and said Corporation is publicly
traded at the time of retirement, such benefit payment shall be withheld for six (6) months following such retirement. The applicable interest rate for purposes of determining the actuarial equivalent of the lifetime payments shall be
determined in accordance with Section 6.01 as of the date of the lump sum payment or as of the date of the first annual installment and the rate shall remain the same for all subsequent payments. 
  

	2.06	Vesting. 

 Anything to the contrary in
this Agreement notwithstanding, the Executive shall have a vested interest in any benefit payable under this Agreement under any one or more of Sections 2.01, 2.04, 3.01, 4.01, 5.01, or 10.01 only if, at the date on which his entitlement to such
benefit shall be determined, he shall have completed at least five (5) years of employment with the Corporation commencing with his original date of hire with the Corporation. 
 ARTICLE THREE 
  

	3.01	Death of Executive. 

  

	(a)	If the Executive dies while employed by the Corporation but prior to the commencement of the payments of benefits under Section 2.01, 4.01, 5.01 or 10.01, the Corporation
will pay to the Executive’s named beneficiaries, for a period of fifteen (15) years certain, commencing on the first day of the month next following the delivery to the Corporation of a death certificate, a total annual amount equal to the
Accrued Benefit earned by the Executive as of the date of death. 

  

	(b)	If the Executive dies following the commencement of the payment of benefits under Section 2.01, 2.04, 4.01, 5.01, or 10.01 and prior to a period of fifteen (15) years
certain, such payment of benefits shall continue to the beneficiaries of the Executive for the period of fifteen (15) years certain. The total payment period of such benefits to said Executive and beneficiaries shall not exceed fifteen
(15) years. 

  

	(c)	If the Executive dies following the termination of his employment with the Corporation and prior to the commencement of the payment of benefits under Section 2.01, 2.04,
4.01, 5.01, or 10.01, the Corporation shall pay the Executive’s Accrued Benefit as of the date of his death. Such benefits shall be paid in a lump sum on the first day of the month next following the delivery to the Corporation of a death
certificate. 

  

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	3.02	Beneficiaries. 

 The Executive may name
one or more beneficiaries in writing to the Corporation. If no beneficiary is so named or if no named beneficiary is living at the time a payment is due, that payment and all subsequent payments shall be made, when due, to the Executive’s
estate. 
 ARTICLE FOUR 
  

	4.01	Disability Prior to Retirement. 

 In the
event the Executive shall become disabled, mentally or physically, which disability prevents him from performing the material aspects of his duties, the Corporation will pay no disability benefits from the Supplemental Executive Retirement Program.
An Executive is considered disabled if he or she is: [1] unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last
for a continuous period of not less than twelve (12) months; or [2] by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less
than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering the Executive of the Corporation. If there is a dispute regarding whether the
Executive is disabled, such dispute shall be resolved by a physician mutually selected by the Corporation and the Executive and such resolution shall be binding upon all parties to this Agreement. Disability benefits (if any) will be paid to the
Executive through such insurance programs as may be sponsored by the Corporation. Upon the later of termination of such other disability benefits (if any), or Executive’s attainment of the Normal Retirement Date, the Executive shall commence
receiving payment of his Accrued Benefit determined as of the date of the disability. The Accrued Benefit shall be paid monthly, for the lifetime of the Executive, commencing on the first day of the month following the later of the termination of
such benefits or the Normal Retirement Date, or in the manner provided in Section 2.05. 
  

	4.02	Re-employment following Disability. 

 In
the event the Executive returns to work with the Corporation after terminating employment because of disability, this Agreement shall continue in full force and effect as though such disability had not occurred as long as he returns to work in a
position with responsibilities comparable to those inherent in the position in which he was employed at the date of disability. In the event the Executive returns to work in a position with responsibilities which are not comparable to those inherent
in the position in which he was employed at the date of disability, the Executive shall be deemed to have terminated his employment with the Corporation as of the date of disability for reasons other than death or disability. 
  

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 ARTICLE FIVE 
  

	5.01	Termination of Service or Discharge. 

 In
the event that, prior to the Early Retirement Date, the Executive’s employment with the Corporation is terminated, voluntarily or involuntarily, for reasons other than death or disability, the Executive shall be entitled to an annual benefit,
which shall be his Accrued Benefit as defined in Section 2.03 as of the date of his termination of employment. Such benefit shall be payable in one hundred eighty (180) monthly installments commencing on the first day of the month next
following the Normal Retirement Date. 
 If the Executive is a Key Employee, as defined by the Internal Revenue Service, and said
Corporation is publicly traded at the time of termination of employment, any such benefit payment shall be withheld for six (6) months following such termination of employment. 
  

	5.02	Employment by Competition. 

 Anything to
the contrary in this Agreement notwithstanding, in the event of termination of the Executive’s employment with the Corporation, voluntarily or involuntarily, for any reason, prior to the Normal Retirement Date, payments that might otherwise be
due and payable hereunder will be immediately forfeited and all rights of the Executive and his beneficiaries hereunder shall become void, if the Executive competes with the business of the Corporation. The Executive will be deemed to have competed
with the business of the Corporation and for a period of two years thereafter, while he (or any corporation, partnership or other entity in which he is or becomes a director, officer, employee, consultant, partner or joint venturer) directly or
indirectly owns, carries on or becomes involved in any of such capacities otherwise, any commercial, thrift or savings bank or credit union operating, or providing any kind of financial services to a client located within a fifty (50) mile
radius of any office of the Corporation. 
  

	5.03	Forfeiture. 

 Anything to the contrary in
this Agreement notwithstanding, benefits under this Agreement shall be immediately forfeited and all rights of the Executive and his beneficiaries hereunder shall become null and void, if the Executive’s employment with the Corporation is
terminated for cause. For this purpose “cause” shall mean any material failure to carry out any proper direction by the Corporation with respect to his job duties; engagement in fraud, misuse or misappropriation of money or property,
embezzlement, or any crime by the Executive related to the Corporation; or any flagrant act of dishonesty or disloyalty committed by the Executive or any act involving gross moral turpitude of the Executive. 
  

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 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 one (1) year U.S. Treasury Bills determined at the first auction of each calendar year 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, nor
any 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, owned 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 Corporation may have or hereafter have. 
 ARTICLE NINE 
  

	9.01	Funding. 

  

	(a)	The Corporation reserves the right at its sole and exclusive discretion to insure or otherwise provide for the obligations of the Corporation undertaken by this Agreement or to
refrain from same, and to determine the extent, nature and method thereof, including the establishment of one or more trusts. Should the Corporation elect to insure this Agreement, in whole or in part, through the medium of insurance or annuities,
or both, the Corporation shall be the owner and beneficiary of the policy. At no time shall the Executive be deemed to have any right, title or interest in or to any specified asset or assets of the Corporation, or any trust or escrow arrangement,
including, but not by way of restriction, any insurance or annuity or contracts or the proceeds therefrom. 

  

	(b)	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. 

  

 7 

	(c)	If the Corporation purchases a life insurance or annuity policy on the life of the Executive, the Executive agrees to sign any papers that may be required for that purpose and to
undergo any medical examination or tests (at the Corporation’s expense) which may be necessary, and generally cooperate with the Corporation in securing such policy. 

  

	(d)	To the extent the Executive acquires a right to receive benefits under this Agreement, such right shall be no greater than the right of any unsecured general creditor of the
Corporation. 

 ARTICLE TEN 
  

	10.01  	Reorganization. 

 The Corporation shall
not merge or consolidate into or with another corporation, if such merger or consolidation shall result in the other corporation being the survivor corporation, nor shall it sell substantially all of its assets to another corporation, firm, or
person, unless and until (a) the Executive and such corporation, firm or person agree that the Executive shall continue in the employ of the succeeding, continuing or acquiring corporation, firm or person and such corporation, firm or person
agrees to assume and discharge the obligation of the Corporation under this Agreement, or (b) if the Executive and such corporation, firm or person do not agree that the executive shall continue in the employ of such corporation, firm or
person, or such corporation, firm or person does not agree to assume and discharge such obligation, the Corporation pays to the Executive, in one lump sum, his Accrued Benefits as of the date of such merger, consolidation or sale. If the event
described in clause (b) of the immediately preceding sentence shall occur, the Corporation, acting through its Board of Directors, on the recommendation of the Retirement Committee of the Board, may, in its sole discretion, but shall be under
no obligation to, add to the Accrued Benefit, as part of such lump sum payment, as of the date of such merger, consolidation or sale, such amount as the Board shall deem appropriate, after considering the timing of such merger, consolidation or
sale, with relation to the Executive’s Normal Retirement Date. Upon the occurrence of any such event and the assumption of the obligations of the Corporation by such successor corporation, firm or person, the term “Corporation” as
used in this Agreement shall be deemed to refer to such successor or survivor corporation, firm or person. 
 ARTICLE ELEVEN

  

	11.01  	Benefits and Burdens. 

 This Agreement
shall be binding upon and inure to the benefit of the Executive and his personal representative, and the Corporation, and any successor organization which shall succeed to substantially all of its assets and business without regard to the form of
such succession. 
  

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	11.02  	Corporation. 

 As used in this Agreement,
Corporation shall mean Camden National Corporation, a company organized under the law of the United States, and any affiliated entity, successor organization, parent, subsidiary or holding company. 
 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: 
 To the Corporation: 
 c/o Chairman
of the Board 
 Camden National Corporation 
 P.O. Box 310 
 Camden, ME 04843 
 To the Executive: 
 ______________________________ 
 ______________________________ 
 ______________________________ 
 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, a claim shall be made in writing to the Corporation within sixty
(60) days after written notice from the Corporation to the Executive or his beneficiary or personal representative that payments are not being made or are not to be made under this Agreement. Such claim shall be reviewed by the Corporation. If
the claim is approved, or denied, in full or in part, the Corporation shall provide a written notice of approval or denial within sixty (60) days from the date of receipt of the claim setting forth the specific reason for denial, specific
reference to the provision of this Agreement upon which 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 Corporation does not take action within the aforesaid sixty (60) day period) and a 

  

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review is desired, the Executive (or beneficiary in the case of the Executive’s death), shall notify the Corporation in writing within twenty
(20) days. In requesting a review, the Executive or his beneficiary 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 Corporation shall
then review the claim and provide a written decision within sixty (60) days. This decision likewise shall state the specific reasons for the decision and shall include reference to specific provision of this Agreement on which the decision is
based. 
 Any decision of the Corporation 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. 
  

	13.02  	Arbitration. 

 All claims, disputes and
other matters in question between the parties hereto arising out of or relating to this Agreement or the breach thereof may be decided by arbitration with the express mutual consent of the Executive and the Corporation in accordance with the Rules
of the American Arbitration Association then obtaining, subject to the limitations and restrictions stated below. This Agreement to arbitrate and any other agreement or consent to arbitrate entered into in accordance herewith will be specifically
enforceable under the prevailing arbitration law of any court having jurisdiction. 
 Notice of demand for arbitration must be filed in
writing with the other parties to this Agreement and with the American Arbitration Association. The demand must be within a reasonable time after the claim dispute or other matter in question has arisen. In no event may the demand for arbitration be
made after institution of legal or equitable proceedings based on such claim, dispute or other matter in question that would be barred by the applicable statue of limitations. 
 The award rendered by the arbitrators will be final, not subject to appeal and judgment may be entered upon it in any court having jurisdiction
thereof. 
 ARTICLE FOURTEEN 
  

	14.01  	Entire Agreement. 

 This instrument may be
altered or amended only by written mutual agreement signed by the parties hereto. 
  

	14.02  	Jurisdiction. 

 The terms and conditions
of this Agreement are subject to the laws of the State of Maine. 
  

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	14.03  	Gender. 

 Any reference in this Agreement
to the masculine shall be deemed to include the feminine. 
 IN WITNESS WHEREOF, the Corporation has caused this
Agreement to be duly executed by its duly authorized officer and its Corporate Seal affixed, duly attested by its Secretary, and the Executive has hereunto set his hand and seal at Camden, County of Knox, Maine the day and year first above written.

  

					
		 		 	 CAMDEN NATIONAL CORPORATION
 Camden,
Maine

			
	   	 		 	   
	Witness	 		 	President & CEO
			
	   	 		 	   
	Witness	 		 	Executive

  

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