Document:

EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 2 TO LOAN AGREEMENT AND WAIVER 

This Amendment No. 2 to Loan Agreement and Waiver dated and effective as of March 16, 2018 (this “Amendment”) is made by and among
Edgewater Technology, Inc., (“Edgewater”) a Delaware corporation having an address of 200 Harvard Mill Square, Suite 210, Wakefield, Massachusetts 01880 and its Subsidiaries now or hereafter listed in Schedule 1 hereto (with
Edgewater, collectively, the “Borrower”) and Citizens Bank, N.A., formerly known as RBS Citizens, N.A. a national banking association with an address at 28 State Street, Boston, Massachusetts 02109 (the “Lender”).
All capitalized terms used herein, and not otherwise defined herein, shall have the meanings ascribed to such terms in the Loan Agreement (as defined below). 

RECITALS 
 The Borrower is indebted to Lender
pursuant to a certain Loan Agreement dated as of September 23, 2013 by and among Lender and Borrower, as amended by Amendment No. 1 and Joinder dated December 21, 2015 (the “Loan Agreement”). The indebtedness
described in the Loan Agreement has been further evidenced by an Amended and Restated Revolving Note dated as of December 21, 2015 in the principal amount of up to $15,000,000.00 (the “Revolving Note”). 

The Borrower has advised the Lender that the Borrower failed to comply with the Minimum Interest Coverage covenant contained in Section 6(j) of the Loan
Agreement for the reporting period ended December 31, 2017. The Borrower has requested that the Lender agree to waive the Borrower’s failure to comply with such covenant for such reporting period. 

The Lender and the Borrower have agreed to modify certain other provisions of the Loan Agreement. 

AGREEMENT 
 In consideration of the foregoing, of
the undertakings of the parties hereunder and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, Borrower and Lender agree as follows: 

A.    Amendments to Loan Agreement. 

1.    The following new definition is hereby added to Section 1 of the Loan Agreement in appropriate alphabetical order: 

“Liquidity” means, at any time, the sum of the Borrower’s cash and cash equivalents at such time. 

 2.    In order to provide that all Revolving Advances under the Loan Agreement shall be
available at the sole discretion of the Lender, Section 2(a) and Section 2(d) of the Loan Agreement are hereby deleted in their entirety and are replaced by the following new Sections 2(a) and 2(d); 

“(a)    Revolving Line of Credit. Subject to the terms and conditions of this Agreement (including any
conditions precedent set forth herein) and prior to the Expiration Date, the Lender in its sole discretion may make Loans and issue Letters of Credit to or for the account of the Borrower in such amounts as requested by the Borrower (each, a
“Revolving Advance”), provided that no Revolving Advance shall be made if such Revolving Advance, together with the Aggregate Revolving Advances, would exceed the Maximum Revolving Credit. The credit facility established under and
governed by this Section 2 is a discretionary revolving line of credit such that, subject to the limitations of this Section 2 and the Borrower’s compliance with the terms and conditions of this Agreement and prior to the Expiration
Date, the Borrower may borrow, re-pay, and re-borrow Revolving Advances. Notwithstanding the definition of “Revolving Loan Commitment” in Section 1(a),
nothing contained in this Agreement shall be construed to obligate the Lender to make any Revolving Advance after the Expiration Date or the earlier termination of this Agreement under Section 7(b) below, but the Lender may choose to do so in
its sole discretion.” 
 “(d)    Requests for Revolving Advances. The Borrower shall give to the Lender
telephonic or written notice by no later than 2:00 p.m. on any Business Day on which it requests a Revolving Advance, specifying the amount and date of funding of each Revolving Advance requested. Provided that the Borrower has satisfied any
conditions precedent for such Revolving Advance set forth in Section 4(b) of this Agreement, the Lender in its sole discretion may make the Revolving Advance to the Borrower within one Business Day of such request by crediting the Operating
Account or as otherwise directed in writing by the Borrower or to issue the Letter of Credit within one Business Day of Borrower’s satisfaction of any conditions precedent to such issuance.” 

3.    In order to add a new Minimum Liquidity Covenant to the Loan Agreement a new Section 6(m) is hereby added to the Loan Agreement
immediately following Section 6(l) to read as follows: 
 “(l)    Minimum Liquidity. Borrower shall
maintain at all times minimum Liquidity of not less than the greater of: (i) the outstanding amount of Aggregate Revolving Advances at such time, and (ii) Five Million and 00/100 Dollars ($5,000,000.00).” 

B.    Waivers. 

1.    The Lender hereby waives the Borrower’s failure to comply with the Minimum Interest Coverage covenant contained in
Section 6(j) of the Loan Agreement for the reporting period ended December 31, 2017. 
 2.    The waiver provided by the
Lender in Section 1 above is a one-time waiver of such covenant, applicable only to the specific covenant and specific time period set forth in Section 1. The Lender’s granting of such waiver
shall not be deemed to constitute a course of conduct or dealing or to indicate that the Lender will be willing to waive the Borrower’s 

 
failure to comply with such covenant or with any other terms or conditions of the Loan Agreement or the other Loan Documents at any other time. The Lender reserves the right to require strict
compliance by the Borrower with each and every term and condition set forth in the Loan Documents. 
 3.    As a condition to the within
waiver, the Borrower shall pay to the Lender a waiver fee in the amount of $10,000.00 which the Borrower directs the Lender to charge to the Borrower’s operating account maintained with the Lender. The Borrower acknowledges and agrees that the
waiver fee is fully earned and non-refundable as of the date of this Amendment. 

C.    Miscellaneous. 

1.    Conditions of Effectiveness. This Amendment shall become effective when, and only when, Lender shall have received:
(a) a counterpart of this Amendment executed by each Borrower, (b) payment of the waiver fee in the amount of $10,000.00, and (c) such other documents, instruments and agreements as Lender may reasonably request. 

The within waiver and amendments are also subject to Borrower’s reimbursement to Lender of reasonable legal fees, expenses and other disbursements in
connection with this Amendment and closing of the transactions contemplated hereby. 
 2.    No Other Changes. Except for the
specific amendments contained herein, no other changes are hereby made to the Loan Agreement, and each Borrower reaffirms its obligations under the Loan Documents (as amended hereby) in their entirety. This Amendment is not intended to extinguish or
affect any of the debt evidenced by the Notes or to otherwise modify any of the obligations under any of the Loan Documents, except as amended hereby. Each Borrower hereby reaffirms that the Borrower remains indebted to the Lender without defense,
counterclaim or offset and hereby releases the Lender from any and all claims or other causes of action which the Borrower may have against the Lender with respect to the Loans and the Loan Documents. 

3.    Representations and Warranties. Each Borrower hereby represents and warrants as follows, giving effect to the within waiver:
(a) the representations and warranties contained in Section 3 of the Loan Agreement are true, correct and complete in all material respects on and as of the date hereof as though made on and as of such date (except to the extent such
representations and warranties relate to an earlier date, in which case they are true and correct as of such date); (b) no Default or Event of Default as described in the Loan Agreement has occurred and is continuing or would result from the signing
of this Amendment or the transactions contemplated hereby; and (c) there has been no material adverse change in the condition of Borrower or the ability of Borrower to perform its respective Obligations as amended hereby since the date of the
last financial statements furnished to Lender. 
 4.    Reference to and Effect on the Loan Agreement. Upon the effectiveness of
this Amendment, each reference in the Loan Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import shall mean and be a reference to the Loan Agreement as amended hereby. Except
as specifically amended above, the Loan Agreement shall remain in full force and effect and is hereby ratified and confirmed. Except as expressly 

 
provided herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Lender under the Loan Agreement, nor constitute a
waiver of any provision of the Loan Agreement. 
 5.    Costs, Expenses and Taxes. Borrower agrees to pay on demand all
reasonable costs and expenses of Lender in connection with the preparation, execution and delivery of this Amendment and any other instruments and documents to be delivered hereunder, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for Lender with respect thereto and with respect to advising Lender as to its rights and responsibilities hereunder and thereunder. 

6.    Execution in Counterparts. This Amendment may be executed in any number of counterparts, each of which when so executed and
delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument. 

7.    WAIVER OF JURY TRIAL. BORROWER AND LENDER HEREBY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR
COUNTERCLAIM OF ANY KIND OR NATURE RELATED DIRECTLY OR INDIRECTLY TO (a) THIS AMENDMENT, (b) THE TRANSACTIONS AND OBLIGATIONS CONTEMPLATED HEREBY AND BY THE OTHER LOAN DOCUMENTS, OR (c) ANY
COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (ORAL OR WRITTEN), OR ACTIONS OF LENDER OR BORROWER. THE WAIVER MADE HEREUNDER IS MADE KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY FOR SUBSTANTIAL CONSIDERATION AND AS AN INDUCEMENT FOR LENDER TO ENTER
INTO THIS AMENDMENT. 
 8.    Governing Law. This Amendment shall be governed by, and construed in accordance with, the laws
of the Commonwealth of Massachusetts. 
 [Signatures appear on the following Pages 5 and 6.] 

 IN WITNESS WHEREOF, this Note has been executed and delivered under seal March 16, 2018. 

 

									
		 		 	 BORROWER:
 Edgewater Technology,
Inc.

					
		 	/s/ Paul McNeice	 		 	By:	 	/s/ Timothy R. Oakes
		 	Witness	 		 	 Name:
 Title:
	 	 Timothy R. Oakes
 CFO

  

									
		 		 	Edgewater Technology (Delaware), Inc.
					
		 	/s/ Paul McNeice	 		 	By:	 	/s/ Timothy R. Oakes
		 	Witness	 		 	 Name:
 Title:
	 	 Timothy R. Oakes
 CFO

  
  

									
		 		 	Edgewater Technology-Ranzal, LLC
					
		 	/s/ Paul McNeice	 		 	By:	 	/s/ Timothy R. Oakes
		 	Witness	 		 	 Name:
 Title:
	 	 Timothy R. Oakes
 CFO

  
  

									
		 		 	Fullscope, Inc.
					
		 	/s/ Paul McNeice	 		 	By:	 	/s/ Timothy R. Oakes
		 	Witness	 		 	 Name:
 Title:
	 	 Timothy R. Oakes
 CFO

  
  

									
		 		 	Edgewater Technology-Branchbird, Inc.
					
		 	/s/ Paul McNeice	 		 	By:	 	/s/ Timothy R. Oakes
		 	Witness	 		 	 Name:
 Title:
	 	 Timothy R. Oakes
 CFO

  
  

									
		 		 	Edgewater Technology-M2, Inc.
					
		 	/s/ Paul McNeice	 		 	By:	 	/s/ Timothy R. Oakes
		 	Witness	 		 	 Name:
 Title:
	 	 Timothy R. Oakes
 CFO

  
  

									
		 		 	Edgewater Technology-Zero2Ten, Inc.
					
		 	/s/ Paul McNeice	 		 	By:	 	/s/ Timothy R. Oakes
		 	Witness	 		 	 Name:
 Title:
	 	 Timothy R. Oakes
 CFO

 IN WITNESS WHEREOF, this Note has been executed and delivered under seal March 16,
2018.     
  

									
		 		 	 LENDER
  

Citizens Bank, N.A.

					
		 	/s/ Sheila Screnci	 		 	By:	 	/s/ Brendan Roche
		 	Witness	 		 	 Name:
 Title:
	 	 Brendan Roche
 Senior Vice
President

 Schedule 1 

Schedule of Borrowers 
  

					
	 Borrower
	 	 Address
	 	 Federal Id No.

	Edgewater Technology, Inc.	 	200 Harvard Mill Square, Suite 210 Wakefield, MA 01880	 	71-0788538
			
	Edgewater Technology (Delaware), Inc.	 	200 Harvard Mill Square, Suite 210 Wakefield, MA 01880	 	04-3206861
			
	Edgewater Technology-Ranzal, LLC	 	200 Harvard Mill Square, Suite 210 Wakefield, MA 01880	 	20-1652835
			
	Fullscope, Inc.	 	200 Harvard Mill Square, Suite 210 Wakefield, MA 01880	 	38-3479107
			
	Edgewater Technology-Branchbird, Inc.	 	200 Harvard Mill Square, Suite 210 Wakefield, MA 01880	 	47-4773649
			
	Edgewater Technology-M2, Inc.	 	200 Harvard Mill Square, Suite 210 Wakefield, MA 01880	 	47-5385060
			
	Edgewater Technology-Zero2Ten, Inc.	 	200 Harvard Mill Square, Suite 210 Wakefield, MA 01880	 	47-3381754
			
	 Edgewater Solutions Canada, Inc.
  

(subsidiary; not a borrower)
	 	200 Harvard Mill Square, Suite 210 Wakefield, MA 01880	 	N/A (Foreign Corporation)Exhibit 10.1

 

CHANGE OF CONTROL AND NON-SOLICITATION
AGREEMENT

 

THIS CHANGE OF CONTROL AND NON-SOLICITATION
AGREEMENT (this “Agreement”) is entered into as of the 20th day of March, 2018, by and among First Defiance Financial
Corp. an Ohio corporation and thrift holding company (“First Defiance”), First Federal Bank of the Midwest, a federal
savings bank (“First Federal”) (collectively, with First Defiance, the “Company”), and John Reisner, an
individual (the “Employee”).

 

WITNESSETH:

 

WHEREAS, the Employee is currently employed
by the Company;

 

WHEREAS, as a result of the skill, knowledge
and experience of the Employee, the Company believes it is in the best interest of the Company to provide the Employee with a sense
of security to encourage the Employee to remain an employee of the Company; and

 

WHEREAS, the Company and the Employee desire
to enter into this Agreement to set forth their understanding as to their respective rights and obligations in the event of the
termination of Employee's employment under the circumstances set forth in this Agreement;

 

NOW, THEREFORE, in consideration of the
premises and mutual covenants herein contained, the Company and the Employee hereby agree as follows:

 

1.           Term.
The term of this Agreement shall begin on the date above and shall continue until December 31, 2019, unless sooner terminated for
Just Cause, as defined in this Agreement. This Agreement shall automatically renew for additional one year periods following the
original term, at the end of each subsequent one year period, upon the same terms and conditions unless the Company provides at
least 30 days prior notice of its intent not to renew.

 

2.           Termination of Employment.

 

(a)           Termination
by the Company in Connection with a Change of Control. In the event that the employment of the Employee is terminated by the
Company, or its successors or assigns, at any time during the term of this Agreement for any reason other than Just Cause within
six months prior to a Change of Control (hereinafter defined) or within one year after a Change of Control and provided that Employee
has executed a Release pursuant to Section 2(g) below, then the following shall occur:

 

(i)           The
Company shall promptly pay to the Employee or to his beneficiaries, dependents or estate an amount equal to two times the Employee's
current annual base salary and two times the Employee’s five year average annual short term cash bonus;

 

    	 	 	 

     

    

 

(ii)           The
Company shall pay the premiums required to maintain coverage for the Employee and his eligible dependents under the health insurance
plan of the Employer in which the Employee is a participant immediately prior to the Change of Control of the Company in accordance
with the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, until the earliest of (A) the first anniversary of
the termination of the Employee's employment or (B) the date on which the Employee is eligible to participate in another employer’s
comparable health insurance plan as a full-time employee; and

 

(iii)           The
Employee shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment
or otherwise, nor shall any amounts received from other employment or otherwise by the Employee offset in any manner the obligations
of the Company hereunder, except as specifically stated in clause (ii) above.

 

For purposes of this Agreement, the term
“Just Cause” shall mean personal dishonesty, incompetence, 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 traffic violations
or similar offenses) or final cease-and-desist order or material breach of any provision of this  Agreement.  For
purposes of this paragraph, no act or failure to act on the Employee’s part shall be considered “willful” unless
done, or omitted to be done, by the Employee not in good faith and without reasonable belief that the Employee’s action or
omission was in the best interest of the Company.

 

(b)           Termination
by the Employee in Connection with a Change of Control. The Employee may voluntarily terminate the Employee's employment pursuant
to this Agreement within twelve months following a Change of Control and shall be entitled to compensation as set forth in Section
2(a) of this Agreement in the event that, without the Employee’s express written consent, there is:

 

(i)           
an assignment by the Company to the Employee of any duties that are materially inconsistent with his positions, duties,
responsibilities and status with the Company immediately prior to such Change of Control;

 

(ii)           a material change in the Employee’s reporting responsibilities, titles or offices as an employee and as in
effect immediately prior to such a Change of Control; or

 

(iii)           a removal of the Employee from or a failure to re-elect the Employee to the offices of Legal Counsel, Chief Risk
Officer and Executive Vice President of First Federal, except in connection with Just Cause, or the Employee’s death;

 

(iv)           a reduction by the Company in the Employee’s base salary, as in effect immediately prior to the Change of Control;

 

    	 	-2-	 

     

    

 

(v)         
  a relocation of the principal executive office of the Company outside of the Defiance, Ohio area
or, a requirement that the Employee be based anywhere other than an area in which the Company’s principal executive
office is located, except for required travel on business of the Company to an extent substantially consistent with the
Employee’s present business travel obligations;

 

(vi)           a failure by the Company to provide the Employee with the same fringe benefits that were provided to the Employee
immediately prior to a Change of Control, or with a package of fringe benefits (including paid vacations) that, though one or more
of such benefits may vary from those in effect immediately prior to such Change of Control, is substantially comparable in all
material respects to such fringe benefits taken as a whole;

 

(vii)           a failure by the Company to obtain the assumption of and agreement to perform this Agreement by any successor as
contemplated in Section 7 hereof; or

 

(viii)           a failure by the Company to comply with any material provision of this Agreement.

 

(c)           In
the event that payments pursuant to this Agreement, either alone or together with any other payments that are made by the Company
to the Employee, would constitute a “parachute payment” within the meaning of Section 280G(b)(3) of the Internal Revenue
Code of 1986, as amended (the “Code”), and the regulations promulgated thereunder (“Section 280G”), or
would result in the imposition of a penalty tax pursuant to Section 280G, such payments shall be reduced to the maximum amount
that may be paid under Section 280G without exceeding such limits. In the event a reduction in payments is necessary in order to
comply with the requirements of this Agreement relating to the limitations of Section 280G or applicable banking regulatory limits,
then such reductions shall be applied based on the following principles, in order: (i) the payment or benefit with the higher ratio
of the parachute payment value to present economic value (determined using reasonable actuarial assumptions) shall be reduced or
eliminated before a payment or benefit with a lower ratio; (ii) the payment or benefit with the later possible payment date shall
be reduced or eliminated before a payment or benefit with an earlier payment date; and (iii) cash payments shall be reduced prior
to non-cash benefits; provided that if the foregoing order of reduction or elimination would violate Code Section 409A, then the
reduction shall be made pro-rata among the payments or benefits otherwise due or payable (on the basis of the relative present
value of the parachute payments).

 

(d)           Death
of the Employee. This Agreement shall automatically terminate upon the death of the Employee.

 

(e)           “Golden
Parachute” Provision. Any payments made to the Employee pursuant to this Agreement or otherwise are subject to and conditioned
upon compliance with 12 U.S.C. §1828(k) and any regulations promulgated thereunder.

 

    	 	-3-	 

     

    

 

(f)           Definition
of “Change of Control”. A “Change of Control” shall have the meaning set forth in Section 409A(a)(2)(A)(v)
of the Code.

 

(g)           As
a condition to receiving any payments under Section 2 of this Agreement, the Employee shall agree to release the Companies and
all of their affiliates and subsidiaries, employees, directors and successors (the “Released Parties”) from any and
all claims that the Employee may have against the Released Parties through the date of such release (the “Release”)
in a form similar to the attached Exhibit A, and no payments shall be made under Section 2 until such Release has become irrevocable,
effective and enforceable. In the event that the release execution period spans two tax years, no amount will be payable under
Section 2 until the second tax year.

 

3.           Confidential
Information. The Employee acknowledges that the Employee has learned and has access to confidential information regarding the
Company and its customers and businesses. The Employee agrees and covenants not to disclose or use for the Employee's own benefit,
or the benefit of any other person or entity, any confidential information, unless or until the Company consents to such disclosure
or use or such information becomes common knowledge in the industry or is otherwise legally in the public domain. The Employee
shall not knowingly disclose or reveal to any unauthorized person any confidential information relating to the Company, its parent,
subsidiaries or affiliates, or to any of the businesses operated by them, and the Employee confirms that such information constitutes
the exclusive property of the Company. The Employee shall not otherwise knowingly act (a) to the material detriment of the Company,
its subsidiaries, or affiliates, or (b) in a manner which is inimical or contrary to the interests of the Company.

 

4.           Nonassignability.
Neither this Agreement nor any right or interest hereunder shall be assignable by the Employee, the Employee's beneficiaries or
legal representatives without the Company's prior written consent; provided, however, that nothing in this Section 4 shall preclude
(a) the Employee from designating a beneficiary to receive any benefits which were payable hereunder prior to the Employee's death,
or (b) the executors, administrators, or other legal representatives of the Employee or the Employee's estate from assigning any
rights hereunder to the person or persons entitled thereto. The Company may assign this Agreement and Company’s rights hereunder
in whole, but not in part, to any entity with or into which either Company may hereafter merge or consolidate or to which the Company
may transfer all or substantially all of its assets, provided that the assignee assumes all of the Company’s obligations
under this Agreement, either by operation of law or by express written agreement.

 

5.           Non-Solicitation Provisions.If the Employee
terminates his employment with the Company for any reason other than in accordance with Section 2(b) of this Agreement, the Employee
agrees that, for a period of 12 months following the termination of the Employee's employment, except for financial consulting
activity, the Employee shall not (i) either as principal, agent, owner, shareholder or investor of more than 5% of the stock, officer,
director, partner, lender, independent contractor or in any other capacity, engage in, have a financial interest in or be in any
way connected or affiliated with, or render advice or services to, any person or entity that engages in any activity which would
compete in any way with the business operated by the Company in the counties where they do business, or (ii) directly or indirectly,
solicit, divert, take away or interfere with, or attempt to solicit, divert, take away or interfere with, the relationship of the
Company or any of their subsidiaries with any person or entity who is or was a customer, or employee or supplier of the Company
or any of their subsidiaries immediately prior to the date of termination.

 

    	 	-4-	 

     

    

 

The parties hereto acknowledge and agree that
the duration and area for which the non-solicitation covenant and other covenants set forth in this Agreement are to be effective
are fair and reasonable and are reasonably required for the protection of the Companies. In the event that any court determines
that the time period or the area, or both of them, are unreasonable as to any covenant and that such covenant is to that extent
unenforceable, the parties hereto agree that the covenant shall remain in full force and effect for the greatest time period and
in the greatest area that would not render it unenforceable.

 

6.           No
Attachment. Except as required by law, no right to receive payment under this Agreement shall be subject to anticipation, commutation,
alienation, sale, assignment, encumbrance, charge, pledge or hypothecation or to execution, attachment, levy, or similar process
of assignment by operation of law, and any attempt, voluntary or involuntary, to effect any such action shall be null, void and
of no effect.

 

7.           Binding
Agreement. This Agreement shall be binding upon, and inure to the benefit of, the Employee and the Company and their respective
permitted successors and assigns.

 

8.           Amendment
of Agreement. This Agreement may not be modified or amended, except by an instrument in writing signed by the parties hereto.

 

9.           Waiver.
No term or condition of this Agreement shall be deemed to have been waived, nor shall there be an estoppel against the enforcement
of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written
waiver shall be deemed a continuing waiver, unless specifically stated therein, and each waiver shall operate only as to the specific
term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than
the act specifically waived.

 

10.           Severability.
If, for any reason, any provision of this Agreement is held invalid, such invalidity shall not affect the other provisions of this
Agreement not held so invalid, and each such other provision shall, to the full extent consistent with applicable law, continue
in full force and effect.

 

11.           Headings.
The headings of the paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation
of any of the provisions of this Agreement.

 

12.           Governing
Law; Regulatory Authority. This Agreement has been executed and delivered in the State of Ohio and its validity, interpretation,
performance and enforcement shall be governed by the laws of the State of Ohio, except to the extent that federal law is governing.
If this Agreement conflicts with any applicable federal law as now or hereafter in effect, then federal law shall govern.

 

    	 	-5-	 

     

    

 

13.           Effect
of Prior Agreements. This Agreement contains the entire understanding between the parties hereto and supersedes any prior employment
agreement between the Company or any predecessor of the Company and the Employee.

 

14.           Notices.
Any notice or other communication required or permitted pursuant to this Agreement shall be deemed delivered if such notice or
communication is in writing and is delivered personally or by facsimile transmission or is deposited in the United States mail,
postage prepaid, addressed as follows:

 

If to the Company:

 

First Defiance Financial Corp.

601 Clinton St.

Defiance, OH 43512

 

If to the Employee:

 

John Reisner

[most recent address on file with the Company]

 

 

[signature page follows]

 

    	 	-6-	 

     

    

 

IN WITNESS WHEREOF, the Company has caused
this Agreement to be executed by its duly authorized officers, and the Employee has signed this Agreement, each as of the day and
year first above written.

 

 

	Attest:		FIRST DEFIANCE FINANCIAL CORP.
	 	 	 	 	 
	 	 	 	 	 
	/s/ Danielle Figley	 	By	/s/ Donald Hileman	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	EMPLOYEE	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By	/s/ John Reisner	 
	 	 	 	John Reisner	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	FIRST FEDERAL BANK OF THE MIDWEST
	 	 	 	 	 
	 	 	 	 	 
	/s/ Danielle Figley	 	By	/s/ Donald Hileman	 

 

 

    	 	-7-	 

     

    

 

EXHIBIT A

FINAL AND BINDING GENERAL RELEASE

 

This Final And Binding
General Release (“Release”) is executed by [name], [address], [city], [state] [zip], Social Security No. XXX-XX-[last
4], (hereinafter referred to as “Employee”) pursuant to Section 2(g) of the Change of Control and Non-Solicitation
Agreement (“Agreement”) entered into between Employee and First Defiance Financial Corp. and First Federal Bank of
the Midwest (collectively, “Bank”) and dated [date].

 

1.           
In consideration for any payments under Section 2 of the Agreement, Employee does hereby fully release, discharge, compromise
and settle any and all charges, claims, demands, judgments, rights of action, damages, expenses, liabilities or obligations (including
all attorney's fees and costs actually incurred), matured or unmatured, of whatever nature and whether or not presently known that
exist as of the execution date of this Release, including but not limited to all claims under Title VII of the Civil Rights Act
of 1964, all claims under the Fair Labor Standards Act, all claims under the Occupational Safety and Health Act, all claims under
the Worker Adjustment and Retraining Notification Act, all claims under the Equal Pay Act, all claims under Ohio Revised Code Sections
4112.01 through 4112.99 and any other provisions of Ohio law (or equivalent laws in the state in which Employee provided services
to the Bank), all claims under the Americans with Disabilities Act, all claims under the Family and Medical Leave Act, and all
claims arising under the Age Discrimination in Employment Act of 1967, all as amended; all statutory or common law claims under
state or federal law, whether in contract, in tort, or in equity; and any other claim arising out of Employee's employment with
the Bank and his or her separation from that employment, as against the Bank and all affiliated entities and their directors, officers,
employees, owners, attorneys, consultants, agents, insurers and volunteers (the “Released Parties”).

 

2.           
Employee acknowledges that Employee has received all compensation to which Employee is entitled under the provisions of
the Fair Labor Standards Act and any other federal or state law governing wages and/or hours. Employee also acknowledges that Employee
has received all rights to which Employee is entitled, including medical and family leaves of absence, to which Employee is entitled
under the provisions of the Family and Medical Leave Act and any other federal or state law governing leaves of absence.

 

3.           
Nothing in this Release is intended to, or shall, interfere with Employee’s rights under federal, state or local civil
rights or employment discrimination laws (including, but not limited to, Title VII, the ADA, the ADEA, GINA or their state or local
counterparts) to file or otherwise institute a charge of discrimination, to participate in a proceeding with any appropriate federal,
state or local government agency enforcing discrimination laws, or to cooperate with any such agency in its investigation. Employee,
however, shall not be entitled to and expressly and forever waives the right to receive any relief, recovery, or monies in connection
with any such action brought against any of the Released Parties, regardless of who filed or initiated any such complaint, charge
or proceeding. Employee further understands that nothing in this Release limits Employee’s right to seek a judicial determination
of the validity of this Release, to test the knowing and voluntary nature of this Release, or to allege a breach of this Release
by the Company.

 

    	 	-8-	 

     

    

 

4.           
The Older Workers Benefit Protection Act provides certain rights to individuals who release claims they may have
for age discrimination under the Age Discrimination in Employment Act. Those rights are set forth below. Accordingly, exclusively
as this Release pertains to Employee's release of claims under the Age Discrimination in Employment Act, and pursuant to and in
compliance with rights afforded Employee under the Older Workers Benefit Protection Act, Employee:

 

		a.	Is advised that by signing this Release, Employee does not waive rights or claims that arise after
the date on which this Release is executed;

 

		b.	Is advised that the payments under Section 2 of the Agreement was offered to Employee in connection
with a termination of employment in connection with a change of control of the Bank in exchange for the employee's signing a waiver
of claims[. Insert only if more than one individual is terminated in connection with the change of control: Employee has
been provided with written information about the job titles and ages of all individuals terminated in connection with the change
of control, and the ages of all individuals in the same job classification or organizational unit who were not selected for termination
in connection with that change of control];

 

		c.	Is advised to consult with an attorney prior to executing this Release;

 

		d.	Is given a period of forty-five (45) calendar-days from the receipt of this Release within which
to consider this Agreement [If employee is the only individual terminated in connection with the change of control, replace
45 with 21 days]; and

 

		e.	Is given a period of seven (7) calendar-days after signing this Release to revoke Employee's signature.
A revocation of this Release shall be effective only if Employee delivers a written revocation to the Bank within the seven (7)
calendar-day time period set forth above. This Release shall not become effective until the seven (7) calendar-day revocation period
has expired.

 

5.           
By signing this Release, Employee expressly acknowledges and agrees that:

 

		a.	Employee's execution of this Release was knowing and voluntary;

 

		b.	Employee had the opportunity to review this Release with her or his attorney;

 

		c.	The payments under Section 2 of the Agreement is something of value in addition to anything of
value to which Employee was otherwise already entitled;

 

		d.	Employee had the opportunity to consider this Release for forty-five (45) calendar-days before
signing it [If employee is the only individual terminated in connection with the change of control, replace 45 with 21 days];

 

    	 	-9-	 

     

    

 

		e.	Employee had seven (7) calendar-days to revoke this Release after signing it;

 

		f.	[Insert only if more than one individual is terminated in connection with the change of control:
The Bank gave Employee Exhibit B, written information which identified the class, unit, or group of individuals covered by
the separation program described in the Agreement and written information about the job titles and ages of all individuals selected
for the separation program, and the ages of all individuals in the same job classification or organizational unit who are not selected
for separation pay under the separation program;] and

 

		g.	Employee agrees this Release is written in a manner that enables Employee to fully understand its
content and meaning.

 

6.       This
Release shall be binding upon Employee, his or her heirs, administrators, representatives, executors, successors, and assigns.

 

7.       Employee
agrees that he or she has read this Agreement in its entirety and that his or her agreement to all of its provisions is made freely,
voluntarily, and with full knowledge and understanding of its contents.

  

 

IN WITNESS WHEREOF, I have set my hand this
___ day of __________, _____.

 

WITNESSES:

 

	 	 	 
	 	 	Employee Signature 
	 	 	 
	 	 	 
	 	 	Employee Name (Please Print) 

 

 

	STATE OF _____________	)
	 	)  SS:
	COUNTY OF ____________	)

 

Subscribed to and sworn
before me this _____ day of ______________, ______.

 

 

	 	 	 
	 	 	Notary Public
	 	 	 
	 	 	My Commission Expires:                                                         

 

    	 	-10-

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