Document:

exv10w63

Exhibit 10.63

National Consumer Cooperative Bank

 

Sixth Amendment and Limited Waiver

Dated as of March 31, 2009

to

NOTE PURCHASE AND UNCOMMITTED MASTER SHELF AGREEMENT

Dated as of December 28, 2001

 

 

 

 

Sixth Amendment and Limited Waiver

     This Sixth Amendment and Limited Waiver dated as of March 31, 2009 (the or this
“Sixth Amendment”) to the Note Purchase and Uncommitted Master Shelf Agreement dated as of December
28, 2001, is between National Consumer Cooperative Bank (d/b/a/ NCB), a banking
corporation chartered pursuant to the National Consumer Cooperative Bank Act, as amended, 12 U.S.C.
§§3001-3051 (the “Company”), and each of the institutions which is a signatory to this Sixth
Amendment (collectively, the “Noteholders”).

R
e c i t a l s:

     A. The Company and each of the Noteholders have heretofore entered into the Note Purchase and
Uncommitted Master Shelf Agreement, dated as of December 28, 2001, as amended by a First Amendment,
dated as of December 9, 2003, a Second Amendment, dated as of December 28, 2004, a Third Amendment,
dated as of December 28, 2006, a Fourth Amendment dated as of December 31, 2007 and a Fifth
Amendment dated as of February 25, 2008 (as so amended and in effect on the date hereof, the “Note
Agreement”).

     B. The Company has heretofore issued (i) $55,000,000 of its 5.62% Senior Notes due December
28, 2009 (the “Existing 2009 Notes”), and (ii) $50,000,000 of its 5.60% Senior Notes due December
28, 2010 (the “Existing 2010 Notes”; and together with the 2009 Notes, collectively, the “Existing
Notes”).

     C. The Company entered into that certain Credit Agreement dated as of May 1, 2006 (the “Credit
Agreement”), by and among the Company, SunTrust Bank, as administrative agent (“Bank Lender
Agent”), and the other lenders party thereto.

     D. The Company has informed the Noteholders that NCB, FSB (the “Thrift”) failed to have Thrift
Net Income of at least $3,500,000 for the fiscal quarter ending December 31, 2008 in violation of
Section 6.9(j) of the Credit Agreement, which Section 6.9(j) is incorporated by reference in the
Note Agreement pursuant to paragraph 5G (the “Specified Default”);

     E. The Company has requested that the Noteholders waive the Specified Default and that the
Noteholders amend certain provisions of the Note Agreement and the Existing Notes (defined below)
on the terms and conditions contained herein.

     F. The Company and the Noteholders now desire to amend the Note Agreement and the Existing
Notes in the respects, but only in the respects, hereinafter set forth.

     G. Capitalized terms used herein shall have the respective meanings ascribed thereto in the
Note Agreement (as amended hereby) unless herein defined or the context shall otherwise require.

     H. All requirements of law have been fully complied with and all other acts and things
necessary to make this Sixth Amendment a valid, legal and binding instrument according to its terms
for the purposes herein expressed have been done or performed.

 

 

     Now, therefore, upon the full and complete satisfaction of the conditions precedent
to the effectiveness of this Sixth Amendment set forth in Section 4.1 hereof, and in consideration
of good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the
Company and the Noteholders do hereby agree as follows:

Section 1. Amendments to Existing Notes.

     Section 1.1. Subject to the satisfaction of the conditions set forth in Section 4 and in
reliance on the representations and warranties set forth in Section 7, each of the Existing Notes
2009 Notes is hereby, without any further action required on the part of any other Person, deemed
to be automatically amended to conform to and have the terms provided in (x) with respect to the
Existing 2009 Notes, Exhibit A-1 attached hereto and (y) with respect to the Existing 2010 Notes,
Exhibit A-2 attached hereto (except, in each case, that the principal amount, original issue date,
registration number and the payee of each such Existing Note shall remain unchanged). Any Note
issued on or after the Sixth Amendment Effective Date shall be in the applicable form of Exhibit
A-1 or Exhibit A-2.

     Section 1.2. Within 30 days after the Sixth Amendment Effective Date, the Company will deliver
to Noteholders’ special counsel, Bingham McCutchen LLP, at One State Street, Hartford, CT 06103,
one or more Notes in the applicable form, in the denominations and of the series, as may be
requested by any such holder, dated as of the original issue date thereof, and payable to such
holder of Notes or as otherwise requested by such holder, against delivery by such holder of Notes
of the Existing Notes held by it. Bingham McCutchen LLP will forward each of the Notes to the
holders of Notes, and will forward the Existing Notes to the Company for cancellation. All amounts
owing under, and evidenced by, any Existing Note as of the Sixth Amendment Effective Date shall
continue to be outstanding under, and shall after any exchange referred to above be evidenced by,
the Note or Notes issued in exchange therefor, and shall be repayable in accordance with this Sixth
Amendment and such Note or Notes.

Section 2. Amendments to Note Agreement.

     Section 2.1. Paragraph 4 of the Note Agreement shall be and is hereby amended in its entirety
to read as follows:

     “4. PREPAYMENTS.

     4A. Required Repayments.

     (i) Subject to earlier prepayment pursuant to paragraph 4B, the entire unpaid
principal balance of the 2009 Notes shall be due and payable on December 28, 2009;
provided, however, that at any time on or after August 1, 2009, the holders of more
than 50% in principal amount of 2009 Notes (exclusive of any such Notes held by the
Company or any Affiliate of the Company), by written notice (a “Put Notice”) to the
Company, may elect to require that the Company repay the entire principal amount of all
2009 Notes held by all holders of 2009 Notes on a date (the

 

 

“Put Prepayment Date”) that is three (3) Business Days after the date such Put
Notice is delivered to the Company. Upon delivery of such Put Notice to the Company,
the principal amount of the 2009 Notes held by each holder of the 2009 Notes, together
with interest thereon to the Put Prepayment Date (at par, without any Yield-Maintenance
Amount or Modified Yield-Maintenance Amount,) shall become due and payable on such Put
Prepayment Date.

     (ii) Subject to earlier prepayment pursuant to paragraph 4B and 4D,As provided
therein, the entire unpaid principal balance of the 2010 Notes shall be due and payable
on December 15, 2010.

4B. Optional Prepayment With Yield-Maintenance Amount. The Notes of each Series shall be
subject to prepayment, in whole at any time or from time to time in part (in amounts of at
least $1,000,000 and integral multiples of $100,000), at the option of the Company, at 100%
of the principal amount so prepaid plus interest thereon to the prepayment date and the
Yield-Maintenance Amount (provided that if such prepayment is a prepayment of the entire
principal amount of all the Notes then outstanding that occurs within 30 days of the
refinancing of the Bank Loan Agreement then Modified Yield-Maintenance Amount (and not the
Yield-Maintenance Amount) shall be due in connection with such prepayment), if any, with
respect to each such Note. Any partial prepayment of any Series of Notes pursuant to this
paragraph 4B shall be applied in satisfaction of required payments of principal (including
the principal amount due at the maturity thereof) in inverse order of their scheduled due
dates.

4C. Notice of Optional Prepayment. The Company shall give the holder of each Note to be
prepaid pursuant to paragraph 4B irrevocable written notice of such prepayment not less than
10 Business Days prior to the prepayment date, specifying such prepayment date, specifying
the aggregate principal amount of the Notes of the same Series as such Note to be prepaid on
such date, identifying each Note held by such holder, and the principal amount of each such
Note, to be prepaid on such date and stating that such prepayment is to be made pursuant to
paragraph 4B. Notice of prepayment having been given as aforesaid, the principal amount of
the Notes specified in such notice, together with interest thereon to the prepayment date
and together with the Yield-Maintenance Amount, if any, herein provided, shall become due
and payable on such prepayment date. The Company shall, on or before the day on which it
gives written notice of any prepayment pursuant to paragraph 4B, give telephonic notice of
the principal amount of the Notes to be prepaid and the prepayment date to each Significant
Holder which shall have designated a recipient for such notices in the Purchaser Schedule
attached hereto or by notice in writing to the Company.

4D. Prepayments in Connection with Specified Event Proceeds. The Company shall, within
three (3) Business Days of the Company’s receipt of any Specified Event Proceeds (and in any
event on the date of the repayment or prepayment of any Indebtedness under and as defined in
the Bank Loan Agreement with any Specified Event Proceeds), prepay the 2010 Notes in a
principal amount equal to the Pro Rata Percentage of such Specified Event Proceeds, together
with interest accrued on such

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principal amount to the date of such prepayment, plus the Modified Yield Maintenance Amount
determined for the prepayment date with respect to such principal amount. On the Business
Day prior to such prepayment, the Company shall deliver to each holder of Notes to be
prepaid a certificate of a Senior Financial Officer specifying the calculation of such
Modified Yield Maintenance Amount as of the specified prepayment date, showing the
computation by the Company in reasonable detail. Any partial prepayment of any Series of
Notes pursuant to this paragraph 4D shall be applied in satisfaction of required payments of
principal (including the principal amount due at the maturity thereof) in inverse order of
their scheduled due dates.

4E. Application of Prepayments. In the case of each prepayment of less than the entire
unpaid principal amount of all outstanding Notes of any Series pursuant to paragraphs 4B and
4D, the amount to be prepaid shall be applied pro rata to all outstanding Notes of such
Series (including, for the purpose of this paragraph 4E only, all Notes prepaid or otherwise
retired or purchased or otherwise acquired by the Company or any of its Subsidiaries or
Affiliates other than by prepayment pursuant to paragraph 4B or 4D) according to the
respective unpaid principal amounts thereof.

4F. Retirement of Notes. The Company shall not, and shall not permit any of its
Subsidiaries or Affiliates to, prepay or otherwise retire in whole or in part prior to their
stated final maturity (other than by prepayment pursuant to paragraph 4A, 4B or 4D or upon
acceleration of such final maturity pursuant to paragraph 7A), or purchase or otherwise
acquire, directly or indirectly, Notes held by any holder unless the Company or such
Subsidiary or Affiliate shall have offered to prepay or otherwise retire or purchase or
otherwise acquire, as the case may be, the same proportion of the aggregate principal amount
of Notes held by each other holder of Notes at the time outstanding upon the same terms and
conditions. Any Notes so prepaid or otherwise retired or purchased or otherwise acquired by
the Company or any of its Subsidiaries or Affiliates shall not be deemed to be outstanding
for any purpose under this Agreement, except as expressly provided in this paragraph 4.

     Section 2.2. Paragraph 5E of the Note Agreement shall be and is hereby amended in its entirety
to read as follows:

     “5E Line of Business. The Company shall, and shall cause each of the Restricted Subsidiaries
to, remain primarily in the business conducted by the Company and the Restricted Subsidiaries on
the date hereof; provided, however, that neither this Section 5E nor any other provision hereof
shall preclude NCB, FSB from converting its charter from a federal thrift to a national bank.”

     Section 2.3. Clause (ix) of Paragraph 5H of the Note Agreement shall be and is hereby amended
in its entirety to read as follows:

     Loan Portfolio Reports —

(A) within thirty (30) days of the end of the month, one (1) copy of

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(1) a monthly Loan Portfolio Report of the Company setting forth, with
respect to loans held in its portfolio, classifications relating to
delinquency, non-performance, risk rating, loss allowances and other related
matters as of the end of the last month of the fiscal quarters covered by
such financial statements, to be prepared on substantially the same basis
and to contain substantially the same information as the Loan Portfolio
Report, dated December 31, 2005, in respect of the month of December, 2005,
a copy of which was delivered to you prior to the date hereof,

(2) a monthly loan run-off report, which shall detail, in form and substance
reasonably satisfactory to the Noteholders, the amounts received during such
month from loan maturities, amortizations and prepayments, and

(3) a monthly loan and commitment report, which shall detail, in form and
substance reasonably satisfactory to the Noteholders, (i) the loans and
commitments of the Company that are refinanced, extended or renewed, in each
case as permitted by paragraph 6S, (ii) the loans and commitments of the
Company that are terminated or that have matured without being refinanced,
extended or renewed and (iii) the loans and commitments of the Company that
are repaid in full and recommitted or refinanced by the Thrift; and

(B) together with each quarterly financial statement required to be delivered
pursuant to clause (a) of this paragraph 5H, one (1) copy of a quarterly Report on
Allowances for Loan Losses and Reserves of the Company, to be prepared on
substantially the same basis and to contain substantially the same information as
the Report on Allowances for Loan Losses and Reserves, dated December 31, 2005, a
copy of which was delivered to you prior to the date hereof;

provided that such monthly and quarterly reports need not, unless you or any other holder of
Notes shall reasonably request and permitted by any applicable law, rule, regulation or
judicial or regulatory process, disclose the names of the obligors on such loans.”

     Section 2.4. Paragraph 5H of the Note Agreement shall be and is hereby further amended by (i)
deleting the “and” at the end of clause (ix) thereof and (ii) renumbering clause (x) as clause
“(xii)” and by adding the following new clauses “(x)” and “(xi)” in their appropriate numerical
order:

     “(x) Office of Thrift Supervision Reports. — at the same time as it delivers the
financial statements required under the provisions of paragraph 5H(i) and 5H(ii), duly
executed copies of all quarterly financial reports required to be filed with the Office of
Thrift Supervision or any other applicable Governmental Authority regulating the Thrift,
including, without limitation, the Thrift’s then-current Thrift Financial Report, Form 1313
or, if the Thrift Conversion has occurred, the Thrift’s then-current Call Report; and

6

 

     (xi) Program Reports — promptly after delivery thereof, all reports, certificates and
other information required to be delivered pursuant to the FDIC Guarantee Program or the
Capital Purchase Program and, promptly upon receipt thereof, any notice from the U.S.
Treasury or its permitted transferee under the Capital Purchase Program that such Person
intends to exercise any rights with respect to any Capital Stock granted to such Person
pursuant to the Capital Purchase Program.

     Section 2.5. Paragraph 5M of the Note Agreement shall be and is hereby amended in its entirety
to read as follows:

     “5M. Paid-in-Capital. The Company will at all times limit its ‘Paid-in-Capital’ (as
determined in accordance with GAAP) in NCBFC (and by NCBFC in the Thrift) in an aggregate
amount not to exceed thirty-five percent (35%) of Consolidated Adjusted Net Worth at the
time of such investment provided that Investments by NCBFC in the Thrift in the amount of
the net proceeds received by NCBFC from the issuance of Capital Stock pursuant to the
Capital Purchase Program, shall not count against the Investments permitted under this
paragraph 5M.

     Section 2.6. Paragraph 5N of the Note Agreement shall be and is hereby amended in its entirety
to read as follows:

     “5N. Subsidiary Investments. The Company will at all times limit its Investments in
Subsidiaries (other than as set forth in paragraph 5M above and excluding SPVs and secured
loans to NCB Capital) to an aggregate amount with respect to all such Subsidiaries of not
greater than 20% of Consolidated Adjusted Net Worth determined as of the end of the fiscal
year of the Company ending on, or most recently ended prior to, such time; provided that
Investments by NCBFC in the Thrift in the amount of the net proceeds received by NCBFC from
the issuance of Capital Stock pursuant to the Capital Purchase Program, shall not count
against the Investments permitted under this paragraph.”

     Section 2.7. Paragraph 5 of the of the Note Agreement shall be and is hereby further amended
by adding new paragraphs 5O, 5P, 5Q and 5R in their appropriate alphabetical order to read as
follows:

     “5O. Compliance with FDIC Guarantee Program and Capital Purchase Program. To the
extent they are participants in the FDIC Guarantee Program and/or the Capital Purchase
Program, the Company shall, and shall cause each of its Subsidiaries to, comply with all
terms and provisions of the FDIC Guarantee Program and the Capital Purchase Program,
including, without limitation, any guidance issued by any applicable Governmental Authority
regarding the use of funds or proceeds received as a result of such Person’s participation
in such programs.

     5P. Capitalization The Company shall cause (i) the Thrift to be “well capitalized” (as
such term is defined in 12 C.F.R. 565.4(b)(1) or any successor regulation thereto) at all
times until the Thrift Conversion has occurred and the Thrift to be “well

7

 

capitalized” under 12 C.F.R. 6.4(b)(1) or any successor regulation thereto at all times
subsequent to the occurrence of the Thrift Conversion and (ii) each other Financial
Institution Subsidiary to be “well capitalized” for all applicable state and federal
regulatory purposes at all times. If at any time any Governmental Authority changes the
definition of “well capitalized” either by amending such ratios or otherwise, such amended
definition, and any such amended or new ratios, shall automatically be incorporated by
reference into this Agreement as the standard for any Financial Institution Subsidiary on
and as of the date that any such amendment becomes effective by applicable statute,
regulation, order or otherwise.

     5Q. Minimum Liquidity Amount. Commencing August 1, 2009 through and until all amounts
owing under the 2009 Notes have been paid in full, the Company shall at all times maintain a
minimum Liquidity Amount of at least $75,000,000.

     5R. Outstandings. Commencing March 31, 2009 and at all times thereafter, the Company
shall maintain outstanding Revolving Loans (under and as defined in the Bank Loan Agreement
as in effect on the Sixth Amendment Effective Date) of at least $50,000,000 (reduced to
$45,000,000 commencing September 30, 2010); provided, however, that the amount of such
minimum outstanding balance under the Bank Loan Agreement shall (i) be automatically reduced
by the amount that such amount of minimum required outstanding Revolving Loans exceeds the
amount then outstanding on the 2010 Notes and (ii) be reduced to the extent the outstanding
Revolving Loans are reduced below such principal amount due to any prepayments of the
Revolving Loans in connection with the receipt by the Company of Specified Event Proceeds).”

     Section 2.8. Paragraph 6A of the Note Agreement shall be and is hereby amended by deleting
the “and” at the end of subclause (i); by replacing the period at the end of Paragraph 6A with a
semicolon; and by adding the following as a new subclause (iii) after the final paragraph in
Paragraph 6A:

     “and (iii) the issuance by any Restricted Subsidiary of any securities to the United
States Treasury under the Capital Purchase Program.”

     Section 2.9. Clause (i) of paragraph 6C of the Note Agreement shall be and is hereby amended
by (a) deleting “and” immediately after clause (h)(3); (b) deleting “.” at the end of clause (i)
and inserting “;” in lieu thereof; and (c) adding new clauses (j) and (k) in their appropriate
alphabetical order to read as follows:

     “(j) create, incur or suffer to exist Liens on assets of the Thrift that are granted
in connection with the Debt permitted by paragraph 6D(ix); and

     (k) create, incur or suffer to exist Liens on the assets of the Company or NCBFC that
are granted in connection with the Security Documents.”

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     Section 2.10. Paragraph 6D of the Note Agreement shall be and is hereby amended by (a)
deleting the “and” at the end clause (vi); (b) deleting the “.” at the end of clause (vii) and
substituting “;” in lieu thereof; and (c) adding the following in substitution thereof:

     “(viii) Unsecured Debt of the Company and/or the Thrift in an aggregate amount
outstanding at any time not to exceed the Company’s or the Thrift’s respective debt
guarantee limit pursuant to 12 C.F.R. Section 370.3(b), so long as (x) such Debt qualifies
at all times as “FDIC-guaranteed debt” pursuant to 12 C.F.R. Section 370.2(i), (y) such Debt
has been guaranteed by the FDIC pursuant to the FDIC Guarantee Program, and (z) the FDIC has
not terminated the Company’s or the Thrift’s participation in the FDIC Guarantee Program
under 12 C.F.R. Section 370.3(e)(3); and

     (ix) Overnight secured and unsecured borrowings by the Thrift of federal funds from any
Federal Reserve Bank or any member of the Federal Reserve System, so long as such borrowings
are made in the ordinary course of business in such circumstances as may be incidental or
usual in carrying on the banking of the Thrift incurred in accordance with applicable laws
and regulations and safe and sound practice;

provided, however, that each item of Debt set forth above shall only be permitted to the extent
that, after including each such item in the calculation of the financial covenant set forth in
paragraph 6E(i), the Company is in compliance with such covenant.”

     Section 2.11. Clause (i) of paragraph 6E of the Note Agreement shall be and is hereby amended
in its entirety to read as follows:

     (i) The ratio of Consolidated Debt to Consolidated Adjusted Net Worth to exceed 11.0 to
1.0; provided, however, that if either NCBFC or the Thrift receives proceeds of the issuance
of Capital Stock under the Capital Purchase Program, the Company shall not permit,
immediately following receipt of such funds, a ratio of Consolidated Debt to Consolidated
Adjusted Net Worth to exceed 9.5 to 1.0. For purposes of calculating this ratio only,
“Consolidated Adjusted Net Worth” shall be reduced by the amount by which the sum of seventy
five percent (75%) of (i) ninety (90) day overdue accounts, (ii) non-performing loans, (iii)
real estate owned in substance foreclosure and other miscellaneous repossessions, and (iv)
modified loans, exceed the reserves for credit losses established by the Company and its
Subsidiaries. Further, solely for the purpose of calculating the foregoing ratio for the
four (4) fiscal quarters immediately following the Sixth Amendment Effective Date, the
lesser of: (a) $2,500,000 and (b) the actual transaction costs paid by the Company in
connection with the closing of the Sixth Amendment and the closing of any corresponding
amendment to the Bank Loan Agreement, shall be excluded from such calculation.

     Section 2.12. Paragraph 6G of the Note Agreement shall be and is hereby amended in its
entirety to read as follows:

     “6G. Guarantees. The Company shall not, and shall not permit any Subsidiary to, become
or be liable in respect of any Guarantee other than (i) a Restricted

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Guarantee, (ii) guarantees by the Company or NCBFC of the obligations of the Thrift to
the extent, and only to the extent, required by any applicable Governmental Authority (A) in
order to consummate the Thrift Conversion or (B) in connection with sales of loans from the
Company to the Thrift as permitted by paragraph 6K, (iii) the Guaranty Agreement and (iv) a
guaranty agreement by NCBFC in favor of the Bank Lender Agent dated on or about the Sixth
Amendment Effective Date.”

     Section 2.13. Paragraph 6H of the Note Agreement shall be and is hereby amended in its
entirety to read as follows:

     6H. Consolidated Earnings Available for Fixed Charges. The Company shall not permit
Consolidated Earnings Available for Fixed Charges for any period of four (4) consecutive
fiscal quarters of the Company to be less than one hundred percent (100%) of Consolidated
Fixed Charges for such period; provided, however, that, solely for the test periods ending
March 31, 2009, June 30, 2009 and September 30, 2009, the Company shall only be required to
maintain Consolidated Earnings Available for Fixed Charges of not less than eighty-five
percent (85%) of Consolidated Fixed Charges for such periods. Solely for the purpose of
calculating the foregoing ratio for the four (4) fiscal quarters immediately following the
Sixth Amendment Effective Date, the lesser of: (a) $2,500,000 and (b) the actual transaction
costs paid by the Company in connection with the closing of the Sixth Amendment and the
closing of any corresponding amendment to the Bank Loan Agreement, shall be excluded from
such calculation.”

     Section 2.14. Clause (i)(a) of paragraph 6I of the Note Agreement shall be and is hereby
amended by adding a new clause (3) thereto to read as follows:

     “(3) dividends and distributions to (A) the Company and (B) the U.S. Department of
Treasury, or its permitted transferees, pursuant to, and in the minimum amounts required by,
the Capital Purchase Program;”

     Section 2.15. Paragraph 6K of the Note Agreement shall be and is hereby amended in its
entirety to read as follows:

     “6K. Transactions with Affiliates. Except as expressly permitted by this Agreement the
Company shall not, and shall not permit any Subsidiary to directly or indirectly:

     (i) make any Investment in an Affiliate; or (ii) consolidate with or purchase or
acquire assets from an Affiliate; or enter into any other transaction directly or indirectly
with or for the benefit of any Affiliate (including, without limitation, guarantees and
assumptions of obligations of an Affiliate); provided, however, that (A) any Affiliate who
is an individual may serve as an employee or director of the Borrower and receive reasonable
compensation for his services in such capacity, (B) the Borrower may enter into any
transaction with an Affiliate providing for the leasing of Property, the rendering or
receipt of services or the purchase or sale of assets in the ordinary course of business if
the monetary or business consideration arising therefrom would be substantially as

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advantageous to the Borrower as the monetary or business consideration which would
obtain in a comparable arm’s length transaction with a Person not an Affiliate, and (C) that
the Company may sell or assign to the Thrift loans or commitments made by the Company so
long as (1) such sales or assignments have been approved by all applicable Governmental
Authorities and the Company and the Thrift have received all necessary and/or desirable
exemptions from applicable laws or regulations (including, without limitation, exemptions
from Regulation W of the Board of Governors of the Federal Reserve System and Sections 23A
and 23B of the Federal Reserve Act) and (2) the Net Cash Sale Proceeds received by the
Company in connection with such sales or assignments are paid to the Noteholders in
accordance with paragraph 4D of the Note Agreement.”

     Section 2.16. Clause (i) of Paragraph 6P of the Note Agreement shall be and is hereby amended
by deleting the word “and” immediately before subclause (i)(v) and by adding the following as a new
sublcause (i)(vi):

     “and (vi) the Company may make any required prepayment of the Class A Notes as may be
required pursuant to Section 4(b) of the Financing Agreement as a result of any Restricted
Subsidiary’s participation in the Capital Purchase Program.”

     Section 2.17. Clause (ii) of paragraph 6P of the Note Agreement shall be and is hereby amended
in its entirety to read as follows:

     “(ii) No Amendments. The Company shall not amend, modify, terminate, or waive any of
its rights under the Financing Agreement or any of the Class A Notes (or any other agreement
or similar instrument under or pursuant to which such Class A Notes have been issued)
without the prior written consent of the Required Holders, except that the Company may seek
and obtain amendments to or waivers of the provisions of the Class A Notes that would
otherwise require a mandatory prepayment of the Class A Notes as a result of the receipt by
NCBFC or the Thrift, as applicable, of proceeds from the issuance of Capital Stock pursuant
to the Capital Purchase Program.”

     Section 2.18. Paragraph 6 of the Note Agreement shall be and is hereby further amended by
adding paragraphs Q, R, S, T and U thereto to read as follows:

     “6Q. Asset Quality. The Company shall not at any time permit the ratio of
Nonperforming Assets of the Company and its Subsidiaries to Total Loans (excluding letters
of credit) to exceed 0.03:1.00.

     6R. Return on Average Assets. The Company shall not permit the Thrift to have at each
Quarterly Fiscal Date a Return on Average Assets for such Quarterly Fiscal Date less than
the following percentages: (a) 0.00% at each Quarterly Fiscal Date through and including
March 31, 2010; (b) 0.25% at June 30, 2010; and (c) 0.50% for each Quarterly Fiscal Date
thereafter.

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     6S. New and Existing Loans and Commitments. Following the Sixth Amendment Effective
Date, the Company shall not (x) originate, make or extend any new loans or new commitments
to make loans, (y) issue new letters of credit or enter into any new risk participation
agreements with respect to any letters of credit, or (z) increase, refinance, extend the
maturity of, or renew any loans or commitments to make loans; provided, however, the Company
may increase, refinance, extend the maturity of, or renew a loan or commitment so long as:
(a) the principal amount of such loan or commitment, when aggregated with all other
then-outstanding loans and commitments, the increase, refinance, extension or renewal of
which was effected under and permitted by this paragraph, does not exceed $54,000,000; and
(b) such increase, refinance, extension or renewal is entered into by the Company and its
borrower under such loan or commitment prior to December 31, 2009. The Company may renew or
extend existing letters of credit and risk participation agreements with respect to letters
of credit issued by unaffiliated Persons and such renewals and extensions will not be deemed
to be refinances, extensions of renewals of a loan or commitment; provided, however, that if
the Company is required to fund a draw under any such letter of credit or to fund its
participation in any such risk participation agreement, then the amount of such funding
shall be deemed to be a renewal or a loan or commitment, subject to the limitation set forth
in clause (a) of the proviso set forth in the immediately preceding sentence.

     6T. FDIC Guarantee Program Participation. So long as the Company or the Thrift has any
Debt outstanding under paragraph 6D(viii) the Company will not, and will not permit the
Thrift to, opt out of the FDIC Guarantee Program.

     6U. Restrictions on Amendments of Documents. The Company shall not, and shall not
permit any Restricted Subsidiary to:

     (i) modify, amend, supplement or terminate, or agree to modify, amend, supplement or
terminate its charter, by-laws or other organizational documents in any respect that could
have a Material Adverse Effect; provided, however, that modifications or amendments to the
charter, bylaws or other organizational documents of NCBFC solely to permit participation in
the Capital Purchase Program and that are otherwise acceptable to the Noteholders shall be
permitted.

     (ii) modify, amend, supplement or terminate, or agree to modify, amend, supplement or
terminate the charter or other organizational documents of the Thrift in any respect that
would change the legal authority for or the limitations on activities or investments by the
Thrift except to the extent required by any applicable law, rule, regulation or judicial or
regulatory process; provided, however, that modifications or amendments to the Thrift’s
organizational documents solely to permit the Thrift Conversion and/or participation in the
Capital Purchase Program and that are otherwise acceptable to the Noteholders shall be
permitted.”

     6V. Cash and Cash Equivalent Requirement. The Company shall not during any period
below permit the aggregate amount of cash and Cash Equivalents (valued at

12

 

the fair market value thereof) held by the Company to be less than the amount set forth
opposite such period below:

	 	 	 	 	 
	 	 	Cash and Cash
	 	 	Equivalent
	Period	 	Requirement
	December 31, 2009 through and including March 30, 2010
	 	$	20,000,000	 
	March 31, 2010 through and including June 29, 2010
	 	$	40,000,000	 
	June 30, 2010 through and including September 29, 2010
	 	$	60,000,000	 
	September 30, 2010 through and including November 29, 2010
	 	$	80,000,000	 
	November 30 and at all times thereafter
	 	$	100,000,000	 

provided, however, that that amount of cash and Cash Equivalents required by this paragraph
6V shall not at any time be required to exceed the sum of (i) the amount then due under the
2010 Notes plus (ii) the then outstanding balance under the Bank Loan Agreement (iii) plus
$5,000,000; provided, further, that for purposes of the determination of Cash Equivalents,
the aggregate amount of Investments of the type described in clause (q) of the definition of
Restricted Investments shall not comprise more than 20% of the aggregate cash and Cash
Equivalent requirement at any time.

     Section 2.19. Clause (iii) of paragraph 7A of the Note Agreement shall be and is hereby
amended and restated to read as follows:

     “(iii) Particular Defaults — the Company or any Subsidiary fails to perform or observe
any covenant contained in paragraphs 5D and 5F and paragraph 6A through paragraph 6V (other
than paragraph 6J and paragraph 6K) of this Agreement, inclusive; or the Company shall
terminate or modify any provision of the Financing Agreement (other than amendments or
modifications expressly permitted by paragraph 6P(ii)) or shall fail to perform or observe
any covenant contained in the Financing Agreement;

     Section 2.20. Paragraph 7A of the Note Agreement shall be and is hereby further amended by
adding new clauses (xii) and (xiii) thereto to read as follows:

     “(xii) Invalidity of Transaction Documents. Any provision of any Transaction Document,
at any time after its execution and delivery and for any reason other than as expressly
permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to
be in full force and effect; or the Company or NCBFC or any other Person contests in any
manner the validity or enforceability of any provision of any Transaction Document; or the
Company or NCBFC denies that it has any or further liability or obligation under any
Transaction Document, or purports to revoke, terminate or rescind any provision of any
Transaction Document.

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     (xii) Failure of Security. Following the execution and delivery of the Security
Documents by the Company and NCBFC and the filing of any related UCC-1 financing statements,
the Collateral Agent shall cease to have a valid and perfected first priority security
interest in any of the Collateral.”

     Section 2.21. Paragraph 10A of the Note Agreement shall be and is hereby deleted and amended
and restated in its entirety to read as follows:

     ‘Called Principal’ shall mean, with respect to any Note, the principal of such Note that is to
be prepaid pursuant to paragraph 4B, paragraph 4D or is declared to be immediately due and payable
pursuant to paragraph 7, as the context requires.

     ‘Discounted Value’ shall mean, with respect to the Called Principal of any Note, the amount
obtained by discounting all Remaining Scheduled Payments with respect to such Called Principal from
their respective scheduled due dates to the Settlement Date with respect to such Called Principal,
in accordance with accepted financial practice and at a discount factor (applied on the same
periodic basis as that on which interest on such Note is payable) equal to the Reinvestment Yield
with respect to such Called Principal.

     ‘Modified Discounted Value’ shall mean, with respect to the Called Principal of any Note, the
amount obtained by discounting all Remaining Scheduled Payments with respect to such Called
Principal from their respective scheduled due dates to the Settlement Date with respect to such
Called Principal, in accordance with accepted financial practice and at a discount factor (applied
on the same periodic basis as that on which interest on such Note is payable) equal to the Modified
Reinvestment Yield with respect to such Called Principal.

     ‘Modified Reinvestment Yield’ shall mean, with respect to the Called Principal of any Note,
0.50% (50 basis points) plus the yield to maturity implied by (i) the yields reported, as of 10:00
A.M. (New York City local time) on the Business Day next preceding the Settlement Date with respect
to such Called Principal, on the display designated as “Page 678” on the Bridge/Telerate Service
(or such other display as may replace page 678 on the Telerate Service) for actively traded U.S.
Treasury securities having a maturity equal to the Remaining Average Life of such Called Principal
as of such Settlement Date, or if such yields shall not be reported as of such time or the yields
reported as of such time shall not be ascertainable, (ii) the Treasury Constant Maturity Series
yields reported, for the latest day for which such yields shall have been so reported as of the
Business Day next preceding the Settlement Date with respect to such Called Principal, in Federal
Reserve Statistical Release H.15 (519) (or any comparable successor publication) for actively
traded U.S. Treasury securities having a constant maturity equal to the Remaining Average Life of
such Called Principal as of such Settlement Date. Such implied yield shall be determined, if
necessary, by (a) converting U.S. Treasury bill quotations to bond-equivalent yields in accordance
with accepted financial practice and (b) interpolating linearly between yields reported for various
maturities. The Reinvestment Yield will be rounded to that number of decimal places as appears in
the coupon for the Notes.

     ‘Modified Remaining Scheduled Payments’ shall mean, with respect to the Called Principal of
any Note, all payments of such Called Principal and interest thereon that would be

14

 

due on or after the Settlement Date with respect to such Called Principal if no payment of
such Called Principal were made prior to its scheduled due date; provided that interest on the
Called Principal of such Note shall be calculated assuming that interest accrued thereon at the
rate per annum equal to (i) in the case of a 2009, 5.60% and (ii) in the case of a 2010 Note,
5.62%.

     ‘Modified Yield-Maintenance Amount’ shall mean, with respect to any Note, an amount equal to
the excess, if any, of the Modified Discounted Value of the Called Principal of such Note over the
sum of (i) such Called Principal plus (ii) interest accrued thereon as of (including interest due
on) the Settlement Date with respect to such Called Principal. The Modified Yield-Maintenance
Amount shall in no event be less than zero.

     ‘Reinvestment Yield’ shall mean, with respect to the Called Principal of any Note, the yield
to maturity implied by (i) the yields reported, as of 10:00 A.M. (New York City local time) on the
Business Day next preceding the Settlement Date with respect to such Called Principal, on the
display designated as “Page 678” on the Bridge/Telerate Service (or such other display as may
replace page 678 on the Telerate Service) for actively traded U.S. Treasury securities having a
maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date,
or if such yields shall not be reported as of such time or the yields reported as of such time
shall not be ascertainable, (ii) the Treasury Constant Maturity Series yields reported, for the
latest day for which such yields shall have been so reported as of the Business Day next preceding
the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release
H.15 (519) (or any comparable successor publication) for actively traded U.S. Treasury securities
having a constant maturity equal to the Remaining Average Life of such Called Principal as of such
Settlement Date. Such implied yield shall be determined, if necessary, by (a) converting U.S.
Treasury bill quotations to bond-equivalent yields in accordance with accepted financial practice
and (b) interpolating linearly between yields reported for various maturities. The Reinvestment
Yield will be rounded to that number of decimal places as appears in the coupon for the Notes.

     ‘Remaining Average Life’ shall mean, with respect to the Called Principal of any Note, the
number of years (calculated to the nearest one-twelfth year) obtained by dividing (i) such Called
Principal into (ii) the sum of the products obtained by multiplying (a) each Remaining Scheduled
Payment of such Called Principal (but not of interest thereon) by (b) the number of years
(calculated to the nearest one-twelfth year) which will elapse between the Settlement Date with
respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment.

     ‘Remaining Scheduled Payments’ shall mean, with respect to the Called Principal of any Note,
all payments of such Called Principal and interest thereon that would be due on or after the
Settlement Date with respect to such Called Principal if no payment of such Called Principal were
made prior to its scheduled due date.

     ‘Settlement Date’ shall mean, with respect to the Called Principal of any Note, the date on
which such Called Principal is to be prepaid pursuant to paragraph 4B or 4D or is declared to be
immediately due and payable pursuant to paragraph 7A, as the context requires.

15

 

     ‘Yield-Maintenance Amount’ shall mean, with respect to any Note, an amount equal to the
excess, if any, of the Discounted Value of the Called Principal of such Note over the sum of (i)
such Called Principal plus (ii) interest accrued thereon as of (including interest due on) the
Settlement Date with respect to such Called Principal. The Yield-Maintenance Amount shall in no
event be less than zero.”

     Section 2.21. Paragraph 10B of the Note Agreement shall be and is hereby amended by inserting
the following new defined terms in proper alphabetical order:

     “2009 Notes” shall mean the Company’s 8.5% Senior Notes due 2009 issued in the original
principal amount of $55,000,000.”

     “2010 Notes” shall mean the Company’s 8.5% Senior Notes due 2010, issued in the in the
original principal amount of $50,000,000.”

     “‘Asset Sale’ shall mean any one or series of related transactions in which the Company or its
Subsidiaries conveys, transfers, assigns, sells, leases, licenses or otherwise disposes of,
directly or indirectly, any of its properties, businesses or assets (including, without limitation,
the sale or issuance of Capital Stock of any Subsidiary) whether owned on the Sixth Amendment
Effective Date or thereafter acquired.”

     “‘Bank Lender Agent’ shall mean SunTrust Bank (together with its successors and assigns) as
administrative agent under the Bank Loan Agreement.”

     “‘Bank Lenders’ shall mean the lenders from time to time party to the Bank Loan Agreement.”

     “‘Call Report’ shall mean, with respect to each Financial Institution Subsidiary, the
“Consolidated Reports of Condition and Income” (FFIEC Form 031 or 041 or any successor form of the
Federal Financial Institutions Examination Council).”

     “‘Cash Equivalents’ means as to the Company Investments of the types decribed in clauses (d)
through (o) of the definition of the term “Restricted Investments” plus Investments in the form of
any certificated interest only receivables described in clause (q) of such definition.”

     “‘Capital Purchase Program’ shall mean the U.S. Department of Treasury’s capital purchase
program established pursuant to the Emergency Economic Stabilization Act of 2008.”

     “‘Capital Stock’ shall mean any and all shares, interests, participations or other equivalents
(however designated) of capital stock of a corporation, any and all equivalent ownership interest
in a Person (other than a corporation) and any and all warrants, rights or options to purchase or
acquire any of the foregoing.”

     “‘Collateral’ shall mean any and all personal property of the Company, whether now owned or
hereafter acquired, and all of the Capital Stock of the Thrift now owned or hereafter

16

 

acquired by NCBFC, in each case upon which a lien is purported to be created by any Security
Document.”

     “‘Collateral Agent shall mean SunTrust Bank (together with successors or assigns) in its
capacity as collateral agent for the Noteholders and the Bank Lenders under the Security
Documents.”

     “‘Debt Issuance’ means any sale or issuance of Debt by the Company or its Subsidiaries other
than Debt permitted pursuant to paragraph 6D hereof.”

     “‘Equity Issuance” shall mean the sale or issuance by the Company or its Subsidiaries of any
Capital Stock, other than any sale or issuance solely to the Company or any of its Subsidiaries.”

     “‘FDIC’ shall mean the Federal Deposit Insurance Corporation.”

     “‘FDIC Guarantee Program’ shall mean the FDIC’s temporary liquidity guarantee program
established pursuant to 12 C.F.R. Part 370.”

     “‘Sixth Amendment’ shall mean that certain Sixth Amendment and Limited Waiver to the Note
Purchase and Uncommitted Master Shelf Agreement and Amendment to Notes dated as of March 31, 2009
by and among the Company and the Noteholders party thereto.”

     “‘Sixth Amendment Effective Date’ shall mean the date that the Sixth Amendment becomes
effective in accordance with the terms thereof.”

     “‘Financial Institution Subsidiary’ shall mean each of (a) the Thrift, and (b) each other
Subsidiary hereafter formed or acquired that is a regulated financial institution.”

     “‘Governmental Authority’ shall mean the government of the United States of America, any other
nation or any political subdivision thereof, whether state or local, and any agency, authority,
instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, judicial, taxing, regulatory or administrative powers or functions of government.”

     “‘Guaranty Agreement’ shall mean the Guaranty Agreement entered into by NCBFC in favor of the
Noteholders pursuant to the terms of the Sixth Amendment, which agreement guarantees the
Obligations.”

     “‘Intercreditor and Collateral Agency Agreement’ shall mean the Intercreditor and Collateral
Agency Agreement entered into by the Noteholders, the Bank Lender Agent (on behalf of the Bank
Lenders) and the Collateral Agent, pursuant to the terms of the Sixth Amendment, which agreement
sets forth the terms of the relative rights of the parties thereto.”

     “‘Investment’ shall mean in any Person by the Company or a Subsidiary:

17

 

     (a) the amount paid or committed to be paid, or the value of Property or services
contributed or committed to be contributed, by the Company for or in connection with the
acquisition by the Company of any stock, bonds, notes, debentures, partnership or other
ownership interests or other securities of such Person; and

     (b) the amount of any advance, loan or extension of credit to, or guaranty or other
similar obligation with respect to any Debt of, such Person by the Company and (without
duplication) any amount committed to be advanced, loaned, or extended to, or the payment of
which is committed to be assured by a guaranty or similar obligation for the benefit of,
such Person by the Company.”

     “‘Liquidity Amount means, at any time, an amount equal to the sum of (i) cash, plus (ii) Cash
Equivalents, plus (iii) the amount available for borrowing under the Bank Loan Agreement, in each
case determined at such time.”

     “‘Material Adverse Effect’ shall mean, with respect to any event, act, condition or occurrence
of whatever nature (including any adverse determination in any litigation, arbitration, or
governmental investigation or proceeding), whether singularly or in conjunction with any other
event or events, act or acts, condition or conditions, occurrence or occurrences whether or not
related, a material adverse change in, or a material adverse effect on, (i) the business, results
of operations, financial condition, assets, or liabilities of the Company and its Subsidiaries
taken as a whole, (ii) the ability of the Company to perform any of its obligations under the
Transaction Documents, (iii) the rights and remedies of the Noteholders under any of the
Transaction Documents or (iv) the legality, validity or enforceability of any of the Transaction
Documents.”

     “‘NCBFC’ shall mean NCB Financial Corporation, a Delaware chartered savings and loan holding
company.”

     “‘Net Cash Debt Issuance Proceeds” shall mean, with respect to any Debt Issuance, the excess
of the gross cash proceeds received by such Person for such Debt Issuance after deduction of all
reasonable transaction expenses (including, without limitation, reasonable legal and accounting
fees, underwriting discounts and commissions) actually incurred in connection with such Debt
Issuance.”

     “‘Net Cash Equity Issuance Proceeds” shall mean, with respect to any Equity Issuance, the
excess of the gross cash proceeds received by such Person for such Equity Issuance after deduction
of all reasonable transaction expenses (including, without limitation, reasonable legal and
accounting fees, underwriting discounts and commissions) actually incurred in connection with such
Debt Issuance.”

     “‘Net Cash Sale Proceeds” shall mean the net cash proceeds received by a Person in respect of
any Asset Sale, less all out-of-pocket fees, commissions and other expenses actually incurred in
connection with such Asset Sale, including the amount of any transfer or documentary taxes required
to be paid by such Person in connection with such Asset Sale.”

18

 

     “‘Nonperforming Assets” shall mean the sum of (a) Nonperforming Loans, (b) nonaccrual
investment securities, (c) real estate acquired in satisfaction of debts previously contracted and
(d) other real estate owned, in each case, as determined and disclosed in same manner as the
reports provided pursuant to Section 5.3 of the Bank Loan Agreement.”

     “‘Nonperforming Loans” shall mean the sum of (a) nonaccrual loans and lease financing
receivables, (b) loans and lease financing receivables that are contractually past due ninety (90)
days or more as to interest or principal and are still accruing interest and (c) loans for which
the terms have been modified due to a deterioration in the financial position of the borrower, in
each case, as determined and disclosed in the same manner as the reports provided pursuant to
clause (ix) of paragraph 5H.”

     “‘Obligations’ shall mean all amounts owing by the Company or NCBFC to the Noteholders
pursuant to or in connection with this Agreement or any other Transaction Document or otherwise
with respect to any Notes, including without limitation, all principal, interest (including any
interest accruing after the filing of any petition in bankruptcy or the commencement of any
insolvency, reorganization or like proceeding relating to the Company or NCBFC, whether or not a
claim for post-filing or post-petition interest is allowed in such proceeding), Yield-Maintenance
Amount, Modified Yield-Maintenance Amount, all reimbursement obligations, fees, expenses,
indemnification and reimbursement payments, costs and expenses (including all reasonable fees and
expenses of the Noteholders’ special counsel actually incurred pursuant to this Agreement or any
other Transaction Document), whether direct or indirect, absolute or contingent, liquidated or
unliquidated, now existing or hereafter arising hereunder or thereunder.”

     “‘OCC’ shall mean the Office of the Comptroller of the Currency.”

     “‘Pledge Agreement’ shall mean the Pledge Agreement entered into by NCBFC in favor of the
Noteholders pursuant to the terms of the Sixth Amendment, which agreement secures the Obligations.”

     “‘Pro Rata Percentage’ means, in respect of any Specified Event Proceeds, the amount expressed
as a percentage equal to (a) the aggregate principal amount of Notes outstanding (other than any
2010 Notes held by the Company or any Affiliate of the Company) plus any applicable
Yield-maintenance Amount or Modified Yield-Maintenance Amount divided by (b) the sum of (i) such
principal amount of Notes then outstanding (including any applicable Yield-Maintenance Amount or
Modified Yield-Maintenance Amount) plus (ii) the sum of (A) the aggregate outstanding principal
amount of all Bank Lenders’ Revolving Loans and (B) the aggregate amount of L/C Exposures, in each
case, as of the date such Specified Event Proceeds are received by the Company. Any amount
allocated to the L/C Exposure shall be held by the Collateral Agent (or the Bank Lender Agent if
the Collateral Agent is not then in place) in a cash collateral account for the benefit of the Bank
Lenders and the holders of the Notes. Amounts held in the cash collateral account may be used to
pay any L/C Disbursement but solely to the amount which would have been paid if the amount of such
L/C Disbursement was outstanding on the date the applicable Specified Event Proceeds was received
by the Company. In the event that any amount of L/C Exposure is terminated or cancelled an amount
held in the cash collateral

19

 

account shall be paid to the holders of the Notes and the Bank Lenders assuming that such
amount of L/C Exposure cancelled or terminated was not included in the calculation of Pro Rata
Percentage on the such Specified Event Proceeds were received by the Company. For purposes of this
definition, capitalized terms not otherwise defined herein shall have the meanings ascribed to them
as set forth in the Bank Loan Agreement as in effect as of the Sixth Amendment Effective Date.”

     “‘Quarterly Fiscal Dates’ shall mean the last day of the Company’s fiscal quarters.”

     “‘Return on Average Assets’ shall mean, with respect to the Thrift for any Quarterly Fiscal
Date, a percentage determined by dividing (a) the sum of Thrift Net Income for such Quarterly
Fiscal Date and the three preceding Quarterly Fiscal Dates by (b) the average of the “total assets”
of the Thrift (as stated in TFR Report Schedule SO, Line SI870 or, if the Thrift Conversion has
occurred, the Thrift’s Call Report.) for such four Quarterly Fiscal Dates.”

     “‘Security Agreement’ shall mean the Security Agreement entered into by the Company in favor
of the Noteholders pursuant to the terms of the Sixth Amendment, which agreement secures the
Obligations.”

     “‘Security Documents’ shall mean the Security Agreement and the Pledge Agreement.”

     “‘Specified Event Proceeds’ means, (a) the Net Cash Sale Proceeds from Asset Sales (other than
Net Cash Sale Proceeds from (i) Asset Securitizations, (ii) sales of loans (other than to the
Thrift) in the ordinary course of business consistent with past practice, (iii) the sale or other
disposition for fair market value of obsolete or worn out equipment or other assets not necessary
for operations disposed of in the ordinary course of business and (iv) Asset Sales up to an
aggregate amount not to exceed $500,000); (b) the Net Cash Equity Issuance Proceeds of the Company
or any Subsidiary (other than Net Cash Equity Issuance Proceeds (i) that are subject to mandatory
repayment pursuant to any requirements governing the Class A Notes or (ii) that NCBFC or the
Thrift, as applicable, receives pursuant to its participation in the Capital Purchase Program); (c)
the Net Cash Debt Issuance Proceeds of the Company or any Subsidiary (other than Net Cash Debt
Issuance Proceeds that are subject to mandatory repayment pursuant to any requirements governing
the Class A Notes); or (d) the cash proceeds in excess of $10,000,000 in the aggregate in any
fiscal year received from Casualty Events by the Company or any of its Subsidiaries which have not
been reinvested by the Company or such Subsidiary, as applicable, within 365 days of receipt of
such proceeds in the repair or replacement of the property so damaged, destroyed or taken (unless
an Event of Default has occurred and is continuing, all such proceeds shall, unless the Required
Holders consent otherwise, be Specified Event Proceeds). For purposes of this definition,
capitalized terms not otherwise defined herein shall have the meanings ascribed to them as set
forth in the Bank Loan Agreement as in effect as of the Sixth Amendment Effective Date.”

     “‘Tangible Assets’ shall mean, for the Thrift as of any date, tangible assets as defined under
the applicable reporting regulations promulgated by the Office of Thrift Supervision or if the
Thrift Conversion has occurred, as defined under the applicable capital requirements promulgated by
any applicable Governmental Authority.”

20

 

     “‘Tangible Equity’ shall mean, for the Thrift as of any date, tangible equity as defined under
the applicable reporting regulations promulgated by the Office of Thrift Supervision or, if the
Thrift Conversion has occurred, as defined under the applicable capital requirements promulgated by
any applicable Governmental Authority.”

     “‘Thrift’ shall mean NCB, FSB, a federally chartered savings bank located in Hillsboro, Ohio
(and shall include the successor entity into which the Thrift has been converted as permitted by
this Agreement).”

     “‘Thrift Conversion’ shall mean the conversion of the Thrift from a federally chartered
savings bank to a national bank which is consummated in accordance with all applicable laws and
regulations.”

     “‘Thrift Net Income’ shall mean, for any period, the amount stated as “net income” of the
Thrift in TFR Report Schedule SO, Line SO91 or, if the Thrift Conversion has occurred, the Thrift’s
Call Report, for such period.”

     “‘Total Loans” shall mean, with respect to the Company, the line item “Loans and lease
financing” set forth on the consolidated balance sheet of the Company.”

     “‘Transaction Documents’ shall mean this Agreement, the Notes, the Guaranty Agreement, the
Intercreditor Agreement, the Security Documents and all other documents executed and delivered in
connection herewith or therewith, including all amendments, modifications and supplements of or to
all such documents.”

     Section 2.22. Paragraph 10B of the Note Agreement shall be and is hereby further amended by
deleting the defined terms “Asset Securitization”, clause (h) of “Consolidated Adjusted Net
Income”, and “Consolidated Fixed Charges” set forth therein in their entirety and substituting in
lieu thereof the following:

     “‘Asset Securitization’ shall mean, with respect to any Person, a transaction involving the
sale or transfer of receivables by such Person (the “Originator”) to (a) a special purpose
corporation or grantor trust or similar entity (an “SPV”) established solely for the purpose of
purchasing such receivables from the Company or any Subsidiary, (b) the Federal National Mortgage
Association or (c) the Federal Home Loan Mortgage Corporation, in each case for cash in an amount
equal to the Fair Market Value thereof; provided, however, that the Company or any Subsidiary may
(A) establish and maintain a reserve account containing cash or Securities as a credit enhancement
in respect of any such sale, or (B) purchase or retain a subordinated interest in such receivables
being sold.”

     “‘Consolidated Adjusted Net Income’ . . . (h) any portion of the net earnings of any
Subsidiary which for any reason is unavailable for payment of dividends to the Company or any other
Subsidiary; provided, however, that the net earnings of the Thrift may be included in Consolidated
Adjusted Net Income if the sole reason that such earnings would otherwise have been excluded is
based upon restrictions imposed upon the Thrift by virtue of its participation in the Capital
Purchase Program,”

21

 

     “‘Consolidated Fixed Charges’ for any fiscal period of the Company means, on a consolidated
basis for the Company and its Subsidiaries, the sum of:

     (a) all interest and all amortization of Debt (other than (i) amortization of required
periodic payments under the Class A Notes and mandatory prepayments under the Class A Notes arising
due to either NCBFC’s or the Thrift’s participation in the Capital Purchase Program and (ii)
mandatory prepayments of the Notes and the Indebtedness under the Bank Loan Agreement (as in effect
on the date hereof), amortized discount and expense on all Debt for borrowed money of the Company
and its Subsidiaries, plus

     (b) all Rentals payable during such period by the Company and its Subsidiaries.”

     Section 2.23. Paragraph 10 of the Note Agreement shall be and is hereby further amended by
adding the following sentence at the end thereof:

     “For purposes of determining compliance with the financial covenants contained in this
Agreement, any election by the Company to measure an item of Debt of the Company and its
Subsidiaries using fair value (as permitted by Statement of Financial Accounting Standards
No. 159 or any similar accounting standard) shall be disregarded and such determination
shall be made as if such election had not been made.”

Section 3. Limited Waiver. 

     At the request of the Company, but subject to the satisfaction of the conditions precedent set
forth in Section 4 below, the Noteholders hereby waive any Events of Default arising solely as the
result of the Specified Default. The Company acknowledges and agrees that the limited waiver
contained in the foregoing sentence shall not be deemed to be or constitute a consent to any future
action or inaction on the part of the Company, shall not waive or amend (or be deemed to be or
constitute a waiver of or amendment to) any other covenant, term or provision in the Note Agreement
or any of the other Transaction Documents, and shall not hinder, restrict or otherwise modify the
rights and remedies of the Noteholders following the occurrence of any other Default or Event of
Default under the Note Agreement or any other Transaction Document.

Section 4. Conditions to Effectiveness of This Sixth Amendment.

This Sixth Amendment (and the amendments and limited waiver contained herein) shall become
effective as of the date (the “Sixth Amendment Effective Date”) when each and every one of the
following conditions shall have been satisfied:

     (a) executed counterparts of this Sixth Amendment, duly executed by the Company and the
Required Holders, shall have been delivered to the Noteholders;

     (b) the representations and warranties of the Company set forth in Section 7 hereof are
true and correct on and with respect to the date hereof;

22

 

     (c) each Noteholder shall have received an amendment fee in an amount equal to 50 basis
points of the outstanding principal amount of the Notes held by it (to be paid in the same
manner and to the same account as amounts payable in respect of the Notes);

     (d) the Noteholders shall have received evidence of the effectiveness (including fully
executed copies) of an amendment and waiver duly executed by the Majority Banks (as defined
in the Bank Loan Agreement as in effect on the Sixth Amendment Effective Date) pursuant to
which the parties thereto amend the applicable terms and provisions of the Bank Loan
Agreement consistent with the amendments herein to the extent applicable to the Bank Loan
Agreement and waive any default and/or event of default arising under the Bank Loan
Agreement; and

     (e) the Noteholders shall have received such additional documents or certificates with
respect to legal matters or corporate or other proceedings related to the transactions
contemplated hereby as may be reasonably requested by the Noteholders.

Section 5. Guaranty and Security Documents. 

     Section 5.1. As soon as practicable, but no later than 30 days after the date this Sixth
Amendment becomes effective, the Company shall deliver, or shall cause to be delivered, to the
Noteholders and the Collateral Agent the following, each in form and substance satisfactory to the
Collateral Agent:

     (a) An intercreditor and collateral agency agreement (the “Intercreditor Agreement”)
entered into by and among the Noteholders, the Bank Lender Agent, any Affiliate of a Bank
that has entered into or may enter into a swap contract with the Company or any of its
Subsidiaries and (collectively, the “Secured Parties”), pursuant to which the relative
rights of the Secured Parties are defined and providing for the sharing of the proceeds of
the collateral encumbered by the Security Documents;

     (b) A security agreement (the “Security Agreement”) executed by the Company pursuant to
which the Company pledges and grants a lien in all of its personal property to the
Collateral Agent on behalf of itself and the Secured Parties to secure the Obligations and
the amounts outstanding under the Bank Loan Agreement;

     (c) A guaranty agreement (the “Guaranty Agreement”) executed by NCB Financial
Corporation (“NCBFC”) in favor of the Noteholders pursuant to which NCBFC guarantees all of
the Obligations;

     (d) A pledge agreement (the “Pledge Agreement”, together with the Guaranty Agreement
and the Security Agreement, the “Security Documents”) executed by NCBFC pursuant to which
NCBFC pledges to the Collateral Agent for the benefit of the Secured Parties a lien in all
of the Capital Stock of the Thrift to secure the Obligations and the amounts outstanding
under the Bank Loan Agreement;

23

 

     (e) Certified copies of (x) all corporate action taken by the Company and NCBFC
respectively to authorize the execution, delivery and performance of each of the Security
Documents to which each is a party and (y) all consents, approvals, authorizations,
registrations, or filings required to be made or obtained by the Company and/or NCBFC in
connection with the Security Documents (and such consents, approvals, authorizations,
registrations, filings and orders shall be in full force and effect and all applicable
waiting periods shall have expired);

     (f) The certified charter and by-laws of NCBFC, certified by its Secretary or assistant
Secretary;

     (g) An incumbency certificate with respect to NCBFC;

     (h) A certificate of good standing or certificate of similar meaning with respect to
NCBFC issued as of a recent date by the Secretary of State of the State of Delaware and
certificates of qualification to transact business or other comparable certificates issued
by each Secretary of State (and any state department of taxation, as applicable) of each
state in which NCBFC (A) has a place of business or (B) is otherwise required to be so
qualified and in the case of this clause (B), where the failure to be so qualified could
reasonably be expected to have a Material Adverse Effect;

     (i) Current UCC searches with respect to the Company and NCBFC, in form and substance
satisfactory to the Collateral Agent, conducted in the jurisdiction of formation of such
Person (or other appropriate jurisdiction as may be required under the Uniform Commercial
Code), in each case indicating that there are no UCC financing statements of record on any
of the assets of the Company or NCBFC other than Liens permitted under paragraph 6C of the
Note Agreement or which were or are to be terminated on or prior to the Sixth Amendment
Effective Date;

     (j) Evidence that each document (including, without limitation, any UCC financing
statement or account control agreements) required by the Security Documents or under any
applicable law or reasonably deemed necessary or appropriate by the Collateral Agent to be
filed, registered or recorded in order to create in favor of the Collateral Agent, for the
benefit of the Secured Parties, a perfected first-priority lien on the collateral described
therein, shall have been filed, registered or recorded;

     (k) All certificates representing Capital Stock of the Thrift that have been pledged by
NCBFC under to the Pledge Agreement, together with an undated stock power for each such
certificate executed in blank by a duly authorized officer or agent of NCBFC;

     (l) Favorable opinions of counsel to the Company and NCBFC covering such matters as the
Collateral Agent and the Noteholders may request; and

     (m) Such other documents, agreements, instruments, certificates or other confirmations
as the Collateral Agent and the Noteholders may request.

24

 

The Company acknowledges and agrees that failure to comply with the terms of this Section 5 within
30 days following the Sixth Amendment Effective Date shall result in an immediate Event of Default
under the Note Agreement. Further, the Company hereby authorizes the Collateral Agent to pre-file
a UCC-1 financing statement naming the Company as debtor and the Collateral Agent as secured party
and listing as collateral “all assets” of the Company.

Section 6. Authorization to Enter Into Security Documents. 

     Each of the Noteholders party hereto authorizes the Collateral Agent, on behalf of the
Noteholders, to enter into the Security Documents and the Intercreditor Agreement, and each of the
Noteholders acknowledges and agrees that the Intercreditor Agreement will define the relative
rights of the Bank Lenders, on the one hand, and the Noteholders, on the other hand, to share in
the proceeds of the collateral encumbered by the Security Documents.

Section 7. Representations and Warranties of the Company.

     Section 7.1. To induce the Noteholders to execute and deliver this Sixth Amendment (which
representations shall survive the execution and delivery of this Sixth Amendment), the Company
represents and warrants to the Noteholders that:

     (a) the Company is a corporation duly organized, validly existing and in good standing
under the laws of its jurisdiction of incorporation, and the Company has the corporate power
and authority to execute and deliver this Sixth Amendment and to perform the provisions
hereof and the provisions of the Note Agreement, as amended by this Sixth Amendment;

     (b) this Sixth Amendment has been duly authorized by all necessary corporate action on
the part of the Company, and this Agreement constitutes a legal, valid and binding
obligation of the Company enforceable against the Company in accordance with its terms,
except as such enforceability may be limited by (i) applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement of creditors’
rights generally and (ii) general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law);

     (c) the Note Agreement, as amended by this Sixth Amendment, constitutes a legal, valid
and binding obligation of the Company enforceable against the Company in accordance with its
terms, except as such enforceability may be limited by (i) applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting the enforcement of
creditors’ rights generally and (ii) general principles of equity (regardless of whether
such enforceability is considered in a proceeding in equity or at law);

     (d) the execution, delivery and performance by the Company of this Sixth Amendment, and
compliance by the Company with the terms and provisions of the Note Agreement, as amended by
this Sixth Amendment: (i) will not contravene any provision of any law, statute, rule or
regulation or any order, writ, injunction or decree of any court or Governmental Authority,
(ii) will not conflict with or result in any breach of any of the

25

 

terms, covenants, conditions or provisions of, or constitute a default under, or result
in the creation or imposition of (or the obligation to create or impose) any Lien upon any
of the property or assets of the Company or any of its Subsidiaries pursuant to the terms of
any indenture, mortgage, deed of trust, credit agreement or loan agreement, or any other
agreement, contract or instrument, to which the Company or any of its Subsidiaries is a
party or by which it or any of its property or assets is bound or to which it may be subject
or (iii) will not violate any provision of the charter documents of the Company;

     (e) no consent, approval or authorization of, or registration, filing or declaration
with, any Governmental Authority is required in connection with the execution or delivery by
the Company of this Sixth Amendment or performance by the Company of the Note Agreement, as
amended by this Sixth Amendment;

     (f) no Default or Event of Default shall exist immediately after giving effect to this
Sixth Amendment;

     (g) all the representations and warranties contained in Paragraph 8 of the Note
Agreement are true and correct in all material respects with the same force and effect as if
made by the Company on and as of the date hereof (except to the extent that such
representations and warranties relate expressly to an earlier date, in which case such
representations and warranties were true and correct as of such earlier date);

     (h) no Financial Institution Subsidiary has violated any applicable regulatory
restrictions on dividends, and no Governmental Authority has taken any action against any
Financial Institution Subsidiary to restrict the payment of dividends by such Financial
Institution Subsidiary, it being acknowledged by the parties that restrictions on the
payment of dividends imposed solely pursuant to the Capital Purchase Program shall not be
deemed to be a violation of this representation; and

     (i) neither the Company nor any Subsidiary is under investigation by, or is operating
under any restrictions (excluding any restrictions on the payment of dividends referenced in
subsection (h) above) imposed by or agreed to with, any Governmental Authority, other than
routine examinations by such Governmental Authorities.

Section 8 Miscellaneous.

     Section 8.1. No Further Amendments; Ratification of Liability. Except as expressly
amended hereby, the Note Agreement and each of the other Transaction Documents shall remain in full
force and effect in accordance with their respective terms. The Company hereby ratifies, confirms
and reaffirms its liabilities, its payment and performance obligations (contingent or otherwise)
and its agreements under the Note Agreement and the other Transaction Documents, all as amended by
this Sixth Amendment. The Banks’ agreement to the terms of this Sixth Amendment or any other
amendment of the Note Agreement or any other Loan Document shall not be deemed to establish or
create a custom or course of dealing among the Company or the Banks, or any of them. This Sixth
Amendment shall be deemed to be a “Loan Document” for all purposes under the Note Agreement.

26

 

     Section 8.2. No Waiver; References to the Note Agreement. Except as expressly
provided herein, nothing contained herein shall be deemed to constitute a waiver of compliance with
any term or condition contained in the Note Agreement or any of the other Transaction Documents.
The Noteholders expressly reserve all rights, privileges and remedies under the Transaction
Documents. Each reference to the Note Agreement in any of the Transaction Documents (including the
Note Agreement) shall be deemed to be a reference to the Note Agreement, as amended by this Sixth
Amendment.

     Section 8.3. Benefits. This Sixth Amendment shall be binding upon and shall inure to
the benefit of the parties hereto and their respective permitted successors and assigns. This
Sixth Amendment is solely for the benefit of the Company and the Noteholders and no term or
provision hereof shall be deemed to confer any benefit or rights on any other Person.

     Section 8.4. Expenses. The Company agrees to reimburse the Noteholders on demand for
all reasonable costs and expenses (including, without limitation, attorneys’ fees) incurred by such
parties in negotiating, documenting and consummating this Sixth Amendment, the Security Documents,
the other documents referred to herein, and the transactions contemplated hereby and thereby.

     Section 8.5. Severability. In case any provision of or obligation under this Sixth
Amendment shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality
and enforceability of the remaining provisions or obligations, or of such provision or obligation
in any other jurisdiction, shall not in any way be affected or impaired thereby.

     Section 8.6. Headings. Headings and captions used in this Sixth Amendment are
included for convenience of reference only and shall not be given any substantive effect.

     Section 8.7. GOVERNING LAW. THIS SIXTH AMENDMENT SHALL, PURSUANT TO NEW YORK GENERAL
OBLIGATIONS LAW SECTION 5-1401, BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE
WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

     Section 8.8. WAIVER OF JURY TRIAL. THE COMPANY AND THE NOTEHOLDERS HEREBY IRREVOCABLY
WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS SIXTH AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY AND AGREE THAT ANY SUCH
ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

     Section 8.9. Counterparts; Integration. This Sixth Amendment may be executed and
delivered via electronic transmission (facsimile, e-mail, etc.) with the same force and effect as
if an original were executed and may be signed in any number of counterparts, each of which shall
be an original, with the same effect as if the signatures hereto were upon the same instrument.
This Sixth Amendment constitutes the entire agreement and understanding among the parties hereto
with respect to the subject matter hereof and supersede any and all prior agreements and
understandings, oral or written, relating to the subject matter hereof.

27

 

[Signature Pages Follows]

28

 

	 	 	 	 	 	 	 
	 	 	NATIONAL CONSUMER COOPERATIVE BANK	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

 

 

Accepted and Agreed to:

2009 NOTEHOLDERS

	 	 	 	 	 	 	 	 	 	 	 
	 	 	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 	 	 	 	 
	 	 	Title:	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Prudential Investment Management, Inc.,

as investment manager	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 	 	 
	 	 	 	 	Title:	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	FARMERS NEW WORLD LIFE INSURANCE COMPANY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Prudential Private Placement Investors,

L.P. (as Investment Advisor)	 	 
	 
	 	 	 	 	By:	 	Prudential Private Placement Investors,

Inc. (as its General Partner)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	GIBRALTAR LIFE INSURANCE CO., LTD.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Prudential Private Placement Investors,

L.P. (as Investment Advisor)	 	 
	 
	 	 	 	 	By:	 	Prudential Private Placement Investors,

Inc. (as its General Partner)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	Title:
	 	Vice President	 	 

 

 

2010 NOTEHOLDERS

	 	 	 	 	 	 	 	 	 	 	 
	 	 	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 	 	 	 	 
	 	 	Title:	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Prudential Investment Management, Inc.,

as investment manager	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 	 	 
	 	 	 	 	Title:	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	PHYSICIANS MUTUAL INSURANCE COMPANY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Prudential Private Placement Investors,

L.P. (as Investment Advisor)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Prudential Private Placement Investors,

Inc. (as its General Partner)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	MTL INSURANCE COMPANY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Prudential Private Placement Investors,

L.P. (as Investment Advisor)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Prudential Private Placement Investors,

Inc. (as its General Partner)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	TIME INSURANCE COMPANY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Prudential Private Placement Investors,

L.P. (as Investment Advisor)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Prudential Private Placement Investors,

Inc. (as its General Partner)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	AMERICAN BANKERS INSURANCE COMPANY OF FLORIDA, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Prudential Private Placement Investors,

L.P. (as Investment Advisor)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Prudential Private Placement Investors,

Inc. (as its General Partner)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	Title:
	 	Vice President	 	 

 

 

Exhibit [A-1]

NATIONAL CONSUMER COOPERATIVE BANK

SHELF NOTE

	 	 	 
	No. R-6
	 	 
	ORIGINAL PRINCIPAL AMOUNT:

	 	$[                    ]
	ORIGINAL ISSUE DATE:

	 	December 28, 2006
	INTEREST RATE:

	 	Applicable Rate (as defined herein below)
	INTEREST PAYMENT DATES:

	 	June 28 and December 28, commencing 6/28/07
	FINAL MATURITY DATE:

	 	December 28, 2009
	PRINCIPAL INSTALLMENT DATES AND AMOUNTS:

	 	Payable in full on scheduled Final Maturity Date.
	SECURITY NUMBER:

	 	63556*BV7

     FOR VALUE RECEIVED, NATIONAL CONSUMER COOPERATIVE BANK (the “Company”), a corporation
organized and existing under the laws of the United States, hereby promises to pay to
[                                        ], or registered assigns, the principal sum of [                          
              ]
DOLLARS on December 28, 2009 specified above, with interest (computed on the basis of a three
hundred sixty (360) day year of twelve (12) thirty (30) day months) (a) on the unpaid balance
thereof at the Interest Rate per annum specified above, payable on each Interest Payment Date
specified above and on the Final Maturity Date specified above, commencing with the Interest
Payment Date next succeeding the date hereof, until the principal hereof shall have become due and
payable, and (b) on any overdue payment (including any overdue prepayment) of principal, any
overdue payment of interest, and any overdue payment of any Yield-Maintenance Amount (as defined in
the Agreement referred to below), payable on each Interest Payment Date as aforesaid (or, at the
option of the registered holder hereof, on demand), at a rate per annum from time to time equal to
the greater of (i) three percent (3%) in excess of the interest rate in effect pursuant to the
preceding clause (a) or (ii) the rate of interest publicly announced by Bank of New York from time
to time in New York City as its Prime or Base Rate.

     For purposes of this Note,

     “Applicable Rate” means, at any time (a) at all time prior to but excluding March 31,
2009, 5.62% per annum, (b) during the period commencing on March 31, 2009 through but
excluding including May 15, 2009, 8.50% per annum and (iii) thereafter, 10.50% , provided
that during any Investment Rated Period the Applicable Rate shall be 8.5% per annum.

     “Investment Rated Period” means, at any time on or after May 15, 2009, the period
commencing on the date that the Company shall have delivered to the holder hereof evidence
that any of Fitch Ratings, Inc. (“Fitch”), Standard & Poors Corporation (“S&P”) or Moodys
Investor Service (“Moodys”) has rated the senior secured debt of the Company (including the
2009 Notes

 

 

and 2010 Notes, if outstanding(as such terms are defined in the Agreement referred to
below) of, in the case of Fitch, BBB- or higher, in the case of S&P, BBB- or higher, and in
the case of Moodys, Baa3 or higher, and such period ending on the date which such rating has
expired, been withdrawn or otherwise been terminated.

     Payments of principal of, and interest on, and any Yield-Maintenance Amount payable with
respect to, this Note are to be made at the main office of Bank of New York in New York City or at
such other place as the holder hereof shall designate to the Company in writing, in lawful money of
the United States of America.

     This Note is one of a series of Notes (herein called the “Notes”) issued pursuant to a Note
Purchase and Uncommitted Master Shelf Agreement (as amended and as the same may from time to time
be amended, restated, modified or supplemented,, the “Agreement”), dated as of December 28, 2001,
between the Company, The Prudential Insurance Company of America, and such other Purchasers as may
become parties thereto from time to time, and is entitled to the benefits thereof. As provided in
the Agreement, this Note is subject to certain required prepayments and the Company is permitted to
make optional prepayments, in whole or from time to time in part on the terms specified in the
Agreement.

     This Note is a registered Note and, as provided in the Agreement, upon surrender of this Note
for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer
duly executed, by the registered holder hereof or such holder’s attorney duly authorized in
writing, a new Note for a like principal amount will be issued to, and registered in the name of,
the transferee. Prior to due presentment for registration of transfer, the Company may treat the
person in whose name this Note is registered as the owner hereof for the purpose of receiving
payment and for all other purposes, and the Company shall not be affected by any notice to the
contrary.

     In case an Event of Default, as defined in the Agreement, shall occur and be continuing, the
principal of this Note may be declared or otherwise become due and payable in the manner and with
the effect provided in the Agreement.

     This Note is intended to be performed in the State of New York and shall be construed and
enforced in accordance with the law of such State.

	 	 	 	 	 	 	 
	 	 	NATIONAL CONSUMER COOPERATIVE BANK	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

 

 

Exhibit A-2

NATIONAL CONSUMER COOPERATIVE BANK

SHELF NOTE

	 	 	 
	No. R-6
	 	 
	ORIGINAL PRINCIPAL AMOUNT:

	 	$[                    ]
	ORIGINAL ISSUE DATE:

	 	December 28, 2005
	INTEREST RATE:

	 	Applicable Rate (as defined herein below)
	INTEREST PAYMENT DATES:

	 	June 28 and December 28, commencing 6/28/07
	FINAL MATURITY DATE:

	 	December 15, 2010
	PRINCIPAL INSTALLMENT DATES AND AMOUNTS:

	 	Payable in full on scheduled Final Maturity Date.
	SECURITY NUMBER:

	 	63556*BV7

     FOR VALUE RECEIVED, NATIONAL CONSUMER COOPERATIVE BANK (the “Company”), a corporation
organized and existing under the laws of the United States, hereby promises to pay to
[                                        ], or registered assigns, the principal sum of [                            
            ]
DOLLARS on December 15, 2010 specified above, with interest (computed on the basis of a three
hundred sixty (360) day year of twelve (12) thirty (30) day months) (a) on the unpaid balance
thereof at the Interest Rate per annum specified above, payable on each Interest Payment Date
specified above and on the Final Maturity Date specified above, commencing with the Interest
Payment Date next succeeding the date hereof, until the principal hereof shall have become due and
payable, and (b) on any overdue payment (including any overdue prepayment) of principal, any
overdue payment of interest, and any overdue payment of any Yield-Maintenance Amount (as defined in
the Agreement referred to below), payable on each Interest Payment Date as aforesaid (or, at the
option of the registered holder hereof, on demand), at a rate per annum from time to time equal to
the greater of (i) three percent (3%) in excess of the interest rate in effect pursuant to the
preceding clause (a) or (ii) the rate of interest publicly announced by Bank of New York from time
to time in New York City as its Prime or Base Rate.

     For purposes of this Note,

     “Applicable Rate” means, at any time (a) at all time prior to but excluding March 31,
2009, 5.60% per annum, (b) during the period commencing on March 31, 2009 through but
excluding including May 15, 2009, 8.50% per annum and (iii) thereafter, 10.50% , provided
that during any Investment Rated Period the Applicable Rate shall be 8.5% per annum.

     “Investment Rated Period” means, at any time on or after May 15, 2009, the period
commencing on the date that the Company shall have delivered to the holder hereof evidence
that any of Fitch Ratings, Inc. (“Fitch”), Standard & Poors Corporation (“S&P”) or Moodys
Investor Service (“Moodys”) has rated the senior secured debt of the Company (including the
2009 Notes

 

 

and 2010 Notes, if outstanding(as such terms are defined in the Agreement referred to
below) of, in the case of Fitch, BBB- or higher, in the case of S&P, BBB- or higher, and in
the case of Moodys, Baa3 or higher, and such period ending on the date which such rating has
expired, been withdrawn or otherwise been terminated.

     Payments of principal of, and interest on, and any Yield-Maintenance Amount payable with
respect to, this Note are to be made at the main office of Bank of New York in New York City or at
such other place as the holder hereof shall designate to the Company in writing, in lawful money of
the United States of America.

     This Note is one of a series of Notes (herein called the “Notes”) issued pursuant to a Note
Purchase and Uncommitted Master Shelf Agreement (as amended and as the same may from time to time
be amended, restated, modified or supplemented,, the “Agreement”), dated as of December 28, 2001,
between the Company, The Prudential Insurance Company of America, and such other Purchasers as may
become parties thereto from time to time, and is entitled to the benefits thereof. As provided in
the Agreement, this Note is subject to certain required prepayments and the Company is permitted to
make optional prepayments, in whole or from time to time in part on the terms specified in the
Agreement.

     This Note is a registered Note and, as provided in the Agreement, upon surrender of this Note
for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer
duly executed, by the registered holder hereof or such holder’s attorney duly authorized in
writing, a new Note for a like principal amount will be issued to, and registered in the name of,
the transferee. Prior to due presentment for registration of transfer, the Company may treat the
person in whose name this Note is registered as the owner hereof for the purpose of receiving
payment and for all other purposes, and the Company shall not be affected by any notice to the
contrary.

     In case an Event of Default, as defined in the Agreement, shall occur and be continuing, the
principal of this Note may be declared or otherwise become due and payable in the manner and with
the effect provided in the Agreement.

     This Note is intended to be performed in the State of New York and shall be construed and
enforced in accordance with the law of such State.

	 	 	 	 	 	 	 
	 	 	NATIONAL CONSUMER COOPERATIVE BANK	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:exv10w64

Exhibit 10.64

FOURTH AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER

     THIS FOURTH AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER dated as of March 31, 2009 (this
“Amendment”) by and among NATIONAL CONSUMER COOPERATIVE BANK, a corporation chartered by
Act of Congress of the United States which conducts business under the trade name NCB (the
“Borrower”), the Banks party hereto (the “Consenting Banks”) and SUNTRUST BANK, as
Administrative Agent (the “Agent”).

     WHEREAS, the Borrower, the Banks and the Agent are parties to that certain Credit Agreement
dated as of May 1, 2006 (as amended from time to time prior to the date hereof, the “Credit
Agreement”; capitalized terms used herein and not otherwise defined herein are used herein with
the respective definitions given them in the Credit Agreement);

     WHEREAS, the Borrower has informed the Agent and the Banks that NCB, FSB (the
“Thrift”) failed to have Thrift Net Income of at least $3,500,000 for the fiscal quarter
ending December 31, 2008 in violation of Section 6.9(j) of the Credit Agreement (the “Specified
Default”); and

     WHEREAS, the Borrower has requested, and the Consenting Banks and the Agent have agreed, that
the Banks waive the Specified Default and that the Agent and the Banks amend certain provisions of
the Credit Agreement on the terms and conditions contained herein.

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged by the parties hereto, the parties hereto hereby agree as follows:

     Section 1. Amendments to Credit Agreement. Subject to the satisfaction of the
conditions precedent set forth in Section 4 below:

     (a) The Credit Agreement is hereby amended by inserting the following new defined terms in
proper alphabetical order in Article 1:

     “‘Call Report’ shall mean, with respect to each Financial Institution
Subsidiary, the “Consolidated Reports of Condition and Income” (FFIEC Form 031 or
041 or any successor form of the Federal Financial Institutions Examination
Council).”

     “‘Capital Purchase Program’ shall mean the U.S. Department of Treasury’s
capital purchase program established pursuant to the Emergency Economic
Stabilization Act of 2008.”

     “‘Collateral’ shall mean any and all personal property of the Borrower, whether
now owned or hereafter acquired, and all of the Capital Stock of the Thrift now
owned or hereafter acquired by NCBFC, in each case upon which a lien is purported to
be created by any Security Document.

 

 

     “‘FDIC’ has the meaning given such term in Section 3.22 hereof.”

     “‘FDIC Guarantee Program’ shall mean the FDIC’s temporary liquidity guarantee
program established pursuant to 12 C.F.R. Part 370.”

     “‘Fourth Amendment’ shall mean that certain Fourth Amendment to Credit
Agreement and Limited Waiver dated as of March 31, 2009 by and among the Borrower,
the Agent and the Banks party thereto.”

     “‘Fourth Amendment Date’ shall mean the date that the Fourth Amendment becomes
effective in accordance with the terms thereof.”

     “‘Guaranty Agreement’ shall mean the Guaranty Agreement entered into by NCBFC
in favor of the Agent pursuant to the terms of the Fourth Amendment, which agreement
guarantees the Obligations.”

     “‘NCBFC’ shall mean NCB Financial Corporation, a Delaware chartered savings and
loan holding company.”

     “‘Obligations’ shall mean (a) all amounts owing by the Borrower or NCBFC to the
Agent, the Issuing Bank or any Bank pursuant to or in connection with this Agreement
or any other Loan Document or otherwise with respect to any Loan or Letter of
Credit, including without limitation, all principal, interest (including any
interest accruing after the filing of any petition in bankruptcy or the commencement
of any insolvency, reorganization or like proceeding relating to the Borrower or
NCBFC, whether or not a claim for post-filing or post-petition interest is allowed
in such proceeding), all reimbursement obligations, fees, expenses, indemnification
and reimbursement payments, costs and expenses (including all reasonable fees and
expenses of counsel to the Agent, the Issuing Bank and any Bank actually incurred
pursuant to this Agreement or any other Loan Document), whether direct or indirect,
absolute or contingent, liquidated or unliquidated, now existing or hereafter
arising hereunder or thereunder and (b) all obligations and/or liabilities under any
Swap Contracts owed by the Borrower or any of its Subsidiaries to any Bank or
Affiliate of any Bank, together with all renewals, extensions, modifications or
refinancings of any of the foregoing.’

     “‘OCC’ shall mean the Office of the Comptroller of the Currency.”

     “‘Pledge Agreement’ shall mean the Pledge Agreement entered into by NCBFC in
favor of the Agent pursuant to the terms of the Fourth Amendment, which agreement
secures the Obligations.”

     “‘Security Agreement’ shall mean the Security Agreement entered into by the
Borrower in favor of the Agent pursuant to the terms of the Fourth Amendment, which
agreement secures the Obligations.”

- 2 -

 

     “‘Security Documents’ shall mean the Security Agreement and the Pledge
Agreement.”

     “‘Thrift Conversion’ shall mean the conversion of the Thrift from a federally
chartered savings bank to a national bank which is consummated in accordance with
all applicable laws and regulations.”

     (b) The Credit Agreement is hereby further amended by deleting the defined terms “Applicable
Margin”, “Applicable Percentage”, “Asset Securitization”, “Base Rate”, clause (viii) of
“Consolidated Adjusted Net Income”, “Consolidated Fixed Charges”, “Loan Documents”, “Post-Default
Rate”, “Return on Average Assets”, “Senior Note Agreements”, “Swing Line Loan Limit”, “Tangible
Assets”, “Tangible Equity”, “Thrift” and “Thrift Net Income” set forth in Article 1 in their
entirety and substituting in lieu thereof the following:

     “‘Applicable Margin’ shall mean, as of any date on or after the Fourth
Amendment Date, (a) with respect to LIBOR Loans outstanding on any such date, 3.50%
per annum and (b) with respect to Base Rate Loans outstanding on any such date,
1.00% per annum.”

     “‘Applicable Percentage’ shall mean, with respect to the Commitment Fee as of
any date on or after the Fourth Amendment Date, 0.60%.”

     “‘Asset Securitization’ shall mean, with respect to any Person, a transaction
involving the sale or transfer of receivables by such Person to (a) a special
purpose corporation or grantor trust or similar entity (an “SPV”) established solely
for the purpose of purchasing such receivables from the Borrower or any Subsidiary,
(b) the Federal National Mortgage Association or (c) the Federal Home Loan Mortgage
Corporation, in each case for Cash in an amount equal to the Fair Market Value
thereof; provided, however, that the Borrower or any Subsidiary may (A) establish
and maintain a reserve account containing Cash or Securities as a credit enhancement
in respect of any such sale, or (B) purchase or retain a subordinated interest in
such receivables being sold.

     “‘Base Rate’ shall mean the higher of (i) the rate which SunTrust Bank
announces from time to time as its prime lending rate, as in effect from time to
time, (ii) the Federal Funds Rate, as in effect from time to time, plus one-half of
one percent (1/2%) per annum (any changes in such rates to be effective as of the date
of any change in such rate), and (iii) the sum of (A) LIBOR with an Interest Period
of one month, as determined on a daily basis, plus (B) 2.50%. The SunTrust Bank
prime lending rate is a reference rate and does not necessarily represent the lowest
or best rate actually charged to any customer. SunTrust Bank may make commercial
loans or other loans at rates of interest at, above, or below the SunTrust Bank
prime lending rate.”

     “‘Consolidated Adjusted
Net Income’...(viii) any portion of the net earnings of
any Subsidiary which for any reason is unavailable for payment of

- 3 -

 

dividends to the Borrower or any other Subsidiary; provided, however, that the net
earnings of the Thrift may be included in Consolidated Adjusted Net Income if the
sole reason that such earnings would otherwise have been excluded is based upon
restrictions imposed upon the Thrift by virtue of its participation in the Capital
Purchase Program,”

     “‘Consolidated Fixed Charges’ with respect to the Borrower and its Subsidiaries
on a consolidated basis for any period shall mean the sum of: (i) all interest and
all amortization of Indebtedness (other than (a) amortization of required periodic
payments under the Class A Notes and mandatory prepayments under the Class A Notes
arising due to either NCBFC’s or the Thrift’s participation in the Capital Purchase
Program and (b) prepayments of the Senior Notes and the Indebtedness hereunder as
required by the terms of the Senior Note Agreement or this Agreement), amortized
discount and expense on all Indebtedness for borrowed money of the Borrower and its
Subsidiaries, plus (ii) all Rentals payable during such period by the
Borrower and its Subsidiaries.”

     “‘Loan Documents’ shall mean this Agreement, the Notes, the Guaranty Agreement,
the Security Documents and all other documents executed and delivered in connection
herewith or therewith, including all amendments, modifications and supplements of or
to all such documents.”

     “‘Post-Default Rate’ shall mean (i) in respect of any Loans not paid when due
(whether at stated maturity, by acceleration or otherwise), a rate per annum during
the period commencing on the due date until such Loans are paid in full equal to
(after as well as before judgment) (a) if such Loans are Base Rate Loans, 2% above
the Base Rate plus the Applicable Margin as in effect from time to time for Base
Rate Loans, or (b) if such Loans are LIBOR Loans, 2% above the rate of interest in
effect thereon at the time of such default (inclusive of the Applicable Margin at
such time) until the end of the then current Interest Period therefor and,
thereafter, 2% above the Base Rate plus the Applicable Margin as in effect from time
to time for Base Rate Loans; and (ii) in respect of other amounts payable by the
Borrower hereunder (other than interest) not paid when due (whether at stated
maturity, by acceleration or otherwise), a rate per annum during the period
commencing on the due date until such other amounts are paid in full equal to (after
as well as before judgment) 2% above the Base Rate plus the Applicable Margin as in
effect from time to time for Base Rate Loans.”

     “‘Return on Average Assets’ shall mean, with respect to the Thrift for any
Quarterly Fiscal Date, a percentage determined by dividing (a) the sum of Thrift Net
Income for such Quarterly Fiscal Date and the three preceding Quarterly Fiscal Dates
by (b) the average of the “total assets” of the Thrift (as stated in TFR Report
Schedule SO, Line SI870 or, if the Thrift Conversion has occurred, the Thrift’s Call
Report.) for such four Quarterly Fiscal Dates.”

- 4 -

 

     “‘Senior Note Agreement’ shall mean Note Purchase and Uncommitted Master Shelf
Agreement, dated as of December 28, 2001, in respect of (A) the Borrower’s 5.60%
Senior Notes due December 28, 2010, and (B) the Borrower’s 5.62% Senior Notes due
December 28, 2009, as such agreement may be amended, extended, restated, refunded,
refinanced or otherwise supplemented or modified from time to time.”

     “‘Swing Line Loan Limit’ shall mean $0.”

     “‘Tangible Assets’ shall mean, for the Thrift as of any date, tangible assets
as defined under the applicable reporting regulations promulgated by the Office of
Thrift Supervision or if the Thrift Conversion has occurred, as defined under the
applicable capital requirements promulgated by any applicable Governmental
Authority.”

     “‘Tangible Equity’ shall mean, for the Thrift as of any date, tangible equity
as defined under the applicable reporting regulations promulgated by the Office of
Thrift Supervision or, if the Thrift Conversion has occurred, as defined under the
applicable capital requirements promulgated by any applicable Governmental
Authority.”

     “‘Thrift’ shall mean NCB, FSB, a federally chartered savings bank located in
Hillsboro, Ohio (and shall include the successor entity into which the Thrift has
been converted as permitted by this Agreement).”

     “‘Thrift Net Income’ shall mean, for any period, the amount stated as “net
income” of the Thrift in TFR Report Schedule SO, Line SO91 or, if the Thrift
Conversion has occurred, the Thrift’s Call Report, for such period.”

     (c) Any reference to “Senior Note Agreements” in the Credit Agreement or in any other Loan
Documents shall be deemed to be a reference to “Senior Note Agreement.”

     (d) The Credit Agreement is hereby further amended by deleting the phrase “of up to Thirty
Million Dollars ($30,000,000.00)” from clause (i) of Section 2.1(b) in its entirety.

     (e) The Credit Agreement is hereby further amended by deleting clause (iii) of Section 2.3(a)
in its entirety and substituting in lieu thereof the following:

     “(iii) In the case of each notice of conversion of Loans of one type into Loans
of another type, prepayment and in the case of the termination and each reduction of
the Aggregate Revolving Commitments, the Borrower shall give notice (by facsimile or
by telephone confirmed in writing promptly thereafter) to the Agent no later than
11:00 a.m., Atlanta, Georgia time, three (3) Business Days (or such shorter period
as the Agent may agree) prior to the date of the proposed conversion, prepayment,
termination or reduction of Aggregate Revolving Commitments.”

- 5 -

 

     (f) The Credit Agreement is hereby further amended by deleting clause (i) of Section 2.9(c) in
its entirety and substituting in lieu thereof the following:

     “(i) Net Cash Sale Proceeds from Asset Sales (other than Net Cash Sale Proceeds
from (1) Asset Securitizations, (2) sales of loans (other than to the Thrift) in the
ordinary course of business consistent with past practice, (3) the sale or other
disposition for fair market value of obsolete or worn out equipment or other assets
not necessary for operations disposed of in the ordinary course of business and (4)
Asset Sales up to an aggregate amount not to exceed $500,000);”

     (g) The Credit Agreement is hereby further amended by deleting clause (ii) of Section 2.9(c)
in its entirety and substituting in lieu thereof the following:

     “(ii) Net Cash Equity Issuance Proceeds of the Borrower or any Subsidiary
(other than Net Cash Equity Issuance Proceeds (x) that are subject to mandatory
repayment pursuant to any requirements governing the Class A Notes or (y) that NCBFC
or the Thrift, as applicable, receives pursuant to its participation in the Capital
Purchase Program);”

     (h) The Credit Agreement is hereby further amended by deleting clause (i) of Section 2.9(d) in
its entirety and substituting in lieu thereof the following:

     “(i) Each prepayment required by clause (c) immediately above shall be applied
on a pro rata basis to reduce the outstanding amounts under the Revolving
Commitments of each Bank with a pro rata permanent reduction in the Revolving
Commitment of each Bank corresponding to the amount of each such prepayment.”

     (i) The Credit Agreement is hereby further amended by deleting Section 2.11 in its entirety
and substituting in lieu thereof the following:

     “SECTION 2.11 [Intentionally Deleted.]”

     (j) The Credit Agreement is hereby further amended by deleting clause (a) of Section 2.12 in
its entirety and substituting in lieu thereof the following:

     “(a) During such periods such Loan is a Base Rate Loan, the Base Rate in effect
from time to time plus the Applicable Margin; and”

     (k) The Credit Agreement is hereby further amended by deleting clause (a) of Section 3.23 in
its entirety and substituting in lieu thereof the following:

     “(a) No Financial Institution Subsidiary has violated any applicable regulatory
restrictions on dividends, and no Governmental Authority has taken any action
against any Financial Institution Subsidiary to restrict the payment of

- 6 -

 

dividends by such Financial Institution Subsidiary, it being acknowledged by the
parties that restrictions on the payment of dividends imposed solely pursuant to the
Capital Purchase Program shall not be deemed to be a violation of this
representation.”

     (l) The Credit Agreement is hereby further amended by deleting clause (b) of Section 5.2 in
its entirety and substituting in lieu thereof the following:

     “(b) At the same time as it delivers the financial statements required under
the provisions of Section 5.1 and 5.2(a), duly executed copies of all quarterly
financial reports required to be filed with the Office of Thrift Supervision or any
other applicable Governmental Authority regulating the Thrift, including, without
limitation, the Thrift’s then-current Thrift Financial Report, Form 1313 or, if the
Thrift Conversion has occurred, the Thrift’s then-current Call Report.”

     (m) The Credit Agreement is hereby further amended by inserting the following new clause (c)
into Section 5.2 in appropriate alphabetical order:

     “(c) Promptly after delivery thereof, all reports, certificates and other
information required to be delivered pursuant to the FDIC Guarantee Program or the
Capital Purchase Program and, promptly upon receipt thereof, any notice from the
U.S. Treasury or its permitted transferee under the Capital Purchase Program that
such Person intends to exercise any rights with respect to any Capital Stock granted
to such Person pursuant to the Capital Purchase Program.”

     (n) The Credit Agreement is hereby further amended by deleting Section 5.3 in its entirety and
substituting in lieu thereof the following:

     “SECTION 5.3 LOAN PORTFOLIO REPORTS.

     A copy of:

     (a) A monthly Loan Portfolio Report of the Borrower, which shall be delivered
within 30 days after the end of each month and which sets forth, with respect to
loans held in its portfolio, classifications relating to delinquency,
non-performance, risk rating, loss allowances and other related matters as of the
end of the last month of the fiscal quarters covered by such financial statements,
to be prepared on substantially the same basis and to contain substantially the same
information as the Loan Portfolio Report, dated December 31, 2005, in respect of the
month of December, 2005, a copy of which was delivered to the Agent prior to the
date hereof,

     (b) A quarterly Report on Allowances for Loan Losses and Reserves of the
Borrower, which shall be delivered at the same time the Borrower delivers the
financial statements required under the provisions of Section 5.2 and which

- 7 -

 

shall be prepared on substantially the same basis and to contain substantially the
same information as the Report on Allowances for Loan Losses and Reserves, dated
December 31, 2005, a copy of which was delivered to the Agent prior to the date
hereof,

     (c) A monthly loan run-off report, which shall be delivered within 30 days
after the end of each month and which shall detail, in form and substance reasonably
satisfactory to the Agent, the amounts received during such month from loan
maturities, amortizations and prepayments, and

     (d) A monthly loan and commitment report, which shall be delivered within 30
days after the end of each month and which shall detail, in form and substance
reasonably satisfactory to the Agent, (i) the loans and commitments of the Borrower
that are refinanced, extended or renewed, in each case as permitted by Section 7.16,
(ii) the loans and commitments of the Borrower that are terminated or that have
matured without being refinanced, extended or renewed and (iii) the loans and
commitments of the Borrower that are repaid in full and recommitted or refinanced by
the Thrift;

provided that such monthly and quarterly reports need not, unless the Agent or any
Bank shall reasonably so request and permitted by any applicable law, rule,
regulation or judicial or regulatory process, disclose the names of the obligors on
such loans.”

     (o) The Credit Agreement is hereby further amended by deleting clause (b) of Section 6.9 in
its entirety and substituting in lieu thereof the following:

     “(b) FIXED CHARGE COVERAGE RATIO. With respect to the Borrower, maintain for
any period of four (4) consecutive fiscal quarters of the Borrower, Consolidated
Earnings Available for Fixed Charges not less than one hundred percent (100%) of
Consolidated Fixed Charges for such period; provided, however, that, solely for the
test periods ending March 31, 2009, June 30, 2009 and September 30, 2009, the
Borrower shall only be required to maintain Consolidated Earnings Available for
Fixed Charges of not less than eighty-five percent (85%) of Consolidated Fixed
Charges for such periods. Solely for the purpose of calculating the foregoing ratio
for the four (4) fiscal quarters immediately following the Fourth Amendment Date,
the lesser of: (a) $2,500,000 and (b) the actual transaction costs paid by the
Borrower in connection with the closing of the Fourth Amendment and the closing of
any corresponding amendment to the Senior Note Agreements, shall be excluded from
such calculation.”

     (p) The Credit Agreement is hereby further amended by deleting clause (c) of Section 6.9 in
its entirety and substituting in lieu thereof the following

- 8 -

 

     “(c) CONSOLIDATED DEBT TO CONSOLIDATED ADJUSTED NET WORTH. Have, at all times,
a ratio of Consolidated Debt to Consolidated Adjusted Net Worth in an amount not
greater than 11.0 to 1.0; provided, however, that if either NCBFC or the Thrift
receives proceeds of the issuance of Capital Stock under the Capital Purchase
Program, the Borrower shall have at all times immediately following receipt of such
funds, a ratio of Consolidated Debt to Consolidated Adjusted Net Worth in an amount
not greater than 9.5 to 1.0. For purposes of calculating this ratio only,
“Consolidated Adjusted Net Worth” shall be reduced by the amount by which the sum of
seventy five percent (75%) of (i) ninety (90) day overdue accounts, (ii)
non-performing loans, (iii) real estate owned in substance foreclosure and other
miscellaneous repossessions, and (iv) modified loans, exceed the reserves for credit
losses established by the Borrower and its Subsidiaries. Further, solely for the
purpose of calculating the foregoing ratio for the four (4) fiscal quarters
immediately following the Fourth Amendment Date, the lesser of: (a) $2,500,000 and
(b) the actual transaction costs paid by the Borrower in connection with the closing
of the Fourth Amendment and the closing of any corresponding amendment to the Senior
Note Agreements, shall be excluded from such calculation.”

     (q) The Credit Agreement is hereby further amended by deleting clause (e) of Section 6.9 in
its entirety and substituting in lieu thereof the following:

     “(e) ASSET QUALITY. Have, at all times, a ratio of Nonperforming Assets of the
Borrower and its Subsidiaries to Total Loans (excluding letters of credit) of not
greater than 0.03:1.00.”

     (r) The Credit Agreement is hereby further amended by deleting clause (f) of Section 6.9 in
its entirety and substituting in lieu thereof the following:

     “(f) CAPITALIZATION. Cause (i) the Thrift to be “well capitalized” (as such
term is defined in 12 C.F.R. 565.4(b)(1) or any successor regulation thereto) at all
times until the Thrift Conversion has occurred and the Thrift to be “well
capitalized” under 12 C.F.R. 6.4(b)(1) or any successor regulation thereto at all
times subsequent to the occurrence of the Thrift Conversion and (ii) each other
Financial Institution Subsidiary to be “well capitalized” for all applicable state
and federal regulatory purposes at all times. If at any time any Governmental
Authority changes the definition of “well capitalized” either by amending such
ratios or otherwise, such amended definition, and any such amended or new ratios,
shall automatically be incorporated by reference into this Agreement as the standard
for any Financial Institution Subsidiary on and as of the date that any such
amendment becomes effective by applicable statute, regulation, order or otherwise.”

     (s) The Credit Agreement is hereby further amended by deleting clause (g) of Section 6.9 in
its entirety and substituting in lieu thereof the following:

- 9 -

 

     “(g) RETURN ON AVERAGE ASSETS. Cause the Thrift to have at each Quarterly
Fiscal Date a Return on Average Assets for such Quarterly Fiscal Date of not less
than the following percentages: (a) 0.00% at each Quarterly Fiscal Date through and
including March 31, 2010; (b) 0.25% at June 30, 2010; and (c) 0.50% for each
Quarterly Fiscal Date thereafter.”

     (t) The Credit Agreement is hereby further amended by deleting Section 6.13 in its entirety
and substituting in lieu thereof the following:

     “SECTION 6.13 USE OF PROCEEDS.

     The Borrower will use the proceeds of all Loans to finance working capital
needs and for other general corporate purposes of the Borrower and its Subsidiaries,
including the refinancing of the amount of the debt under the Senior Note Agreement
up to the amount of any issuance by the Borrower of debt under the FDIC Guarantee
Program after the Fourth Amendment Date. No part of the proceeds of any Loan will
be used, whether directly or indirectly, for any purpose that would violate any rule
or regulation of the Board of Governors of the Federal Reserve System, including
Regulation T, U or X.”

     (u) The Credit Agreement is hereby further amended by adding the following new Section 6.14 in
Article 6 in appropriate numerical order:

     “SECTION 6.14 COMPLIANCE WITH FDIC GUARANTEE PROGRAM AND CAPITAL PURCHASE
PROGRAM.

           To the extent they are participants in the FDIC Guarantee Program and/or the
Capital Purchase Program, the Borrower shall, and shall cause each of its
Subsidiaries to, comply with all terms and provisions of the FDIC Guarantee Program
and the Capital Purchase Program, including, without limitation, any guidance issued
by any applicable Governmental Authority regarding the use of funds or proceeds
received as a result of such Person’s participation in such programs.”

     (v) The Credit Agreement is hereby further amended by deleting Section 7.1 in its entirety and
substituting in lieu thereof the following:

     “SECTION 7.1 INDEBTEDNESS.

     Create, incur, permit to exist or have outstanding any Indebtedness, except:

     (a) Indebtedness to the Banks, the Swing Line Lender, the Issuing Bank and the
Agent under this Agreement and the Notes;

     (b) Taxes, assessments and governmental charges, non-interest bearing accounts
payable and accrued liabilities, in any case not more than ninety (90)

- 10 -

 

days past due from the original due date thereof (e.g., deferred compensation and
deferred taxes) and in each case incurred and continuing in the ordinary course of
business;

     (c) Indebtedness under, and as permitted by, the Senior Note Agreements;

     (d) Indebtedness under the Class A Notes;

     (e) Indebtedness as set forth on Schedule 7.1 annexed hereto;

     (f) Unsecured Indebtedness of the Borrower and/or the Thrift in an aggregate
amount outstanding at any time not to exceed the Borrower’s or the Thrift’s
respective debt guarantee limit pursuant to 12 C.F.R. Section 370.3(b), so long as
(x) such Indebtedness qualifies at all times as “FDIC-guaranteed debt” pursuant to
12 C.F.R. Section 370.2(i), (y) such Indebtedness has been guaranteed by the FDIC
pursuant to the FDIC Guarantee Program and (z) the FDIC has not terminated the
Borrower’s or the Thrift’s participation in the FDIC Guarantee Program under 12
C.F.R. Section 370.3(e)(3); and

     (g) Overnight secured or unsecured borrowings by the Thrift of Federal funds
from any Federal Reserve Bank or any member of the Federal Reserve System, so long
as such borrowings are made in the ordinary course of business in such circumstances
as may be incidental or usual in carrying on the banking of the Thrift incurred in
accordance with applicable laws and regulations and safe and sound practice;

provided, however, that each item of Indebtedness set forth above shall only be
permitted to the extent that, after including each such item in the calculation of
the financial covenant set forth in Section 6.9(c), the Borrower is in compliance
with such covenant.

     The foregoing shall not prohibit refinancings of subordinated Indebtedness
under clauses (d) and (e) so long as such refinancing (x) does not result in an
increase in the outstanding principal amount thereof (immediately prior to giving
effect to such refinancing), (y) does not shorten the maturity or the weighted
average life thereof (immediately prior to giving effect to such refinancing) and
(z) is otherwise upon terms acceptable to the Agent and the Majority Banks.”

     (w) The Credit Agreement is hereby further amended by deleting the “.” at the end of clause
(d) of Section 7.2, replacing it with “;” and adding the following new clauses (e) and (f) in
Section 7.2 in appropriate alphabetical order:

     “(e) Liens on the assets of the Borrower or NCBFC that are granted in
connection with the Security Documents; and

- 11 -

 

     (f) Liens on assets of the Thrift that are granted in connection with the
Indebtedness permitted by Section 7.1(g).”

     (x) The Credit Agreement is hereby further amended by deleting the first sentence of Section
7.3 in its entirety and substituting in lieu thereof the following:

     “Assume, endorse, be or become liable for, or guarantee, the obligations of any
Person, except (a) by the endorsement of negotiable instruments for deposit or
collection in the ordinary course of business, (b) guarantees by the Borrower or
NCBFC of the obligations of the Thrift to the extent, and only to the extent,
required by any applicable Governmental Authority (i) in order to consummate the
Thrift Conversion or (ii) in connection with sales of loans from the Borrower to the
Thrift as permitted by Section 7.13, (c) the Guaranty Agreement and (d) a guaranty
agreement by NCBFC in favor of the holders of the Senior Notes dated on or about the
Fourth Amendment Date.”

     (y) The Credit Agreement is hereby further amended by deleting clause (i) of Section 7.5 in
its entirety and substituting in lieu thereof the following:

     “(i) declare or pay any dividends or make any distribution of any kind on any
Capital Stock of the Borrower or its Subsidiaries, or set aside any sum for any such
purpose, except that any Subsidiary may declare and pay dividends and make
distributions to (x) the Borrower and (y) the U.S. Department of Treasury, or its
permitted transferees, pursuant to, and in the minimum amounts required by, the
Capital Purchase Program or”

     (z) The Credit Agreement is hereby further amended by deleting clause (ii) of Section 7.8(c)
in its entirety and substituting in lieu thereof the following:

     “(ii) alter the redemption, prepayment or subordination provisions thereof;
provided, however, that the Borrower may seek and obtain amendments to or waivers of
the provisions of the Class A Notes that would otherwise require a mandatory
prepayment of the Class A Notes as a result of the receipt by NCBFC or the Thrift,
as applicable, of proceeds from the issuance of Capital Stock pursuant to the
Capital Purchase Program;”

     (aa) The Credit Agreement is hereby further amended by deleting clauses (xiii) and (xiv) of
Section 7.9 in its entirety and substituting in lieu thereof the following:

     “(xiii) NCBFC (and by NCBFC in the Thrift) in the form of paid-in-capital in an
aggregate amount not to exceed thirty five percent (35%) of Consolidated Adjusted
Net Worth at the time of such investment; provided that Investments by NCBFC in the
Thrift in the amount of the net proceeds received by NCBFC from the issuance of
Capital Stock pursuant to the Capital Purchase Program shall not count against the
Investments permitted under this clause (xiii);

- 12 -

 

     (xiv) Subsidiaries in an aggregate amount not to exceed twenty percent (20%) of
Consolidated Adjusted Net Worth at the time of such investment; provided that (A)
the Investment permitted in clauses (i) or (xiii) immediately above, (B) Investments
in SPV’s and secured loans to NCB Capital and (C) Investments by NCBFC in the Thrift
in the amount of the net proceeds received by NCBFC from the issuance of Capital
Stock pursuant to the Capital Purchase Program, shall not count against the
Investments permitted under this clause (xiv);”

     (bb) The Credit Agreement is hereby further amended by deleting clauses (a) and (c) of Section
7.12 in its entirety and substituting in lieu thereof the following:

     “(a) Modify, amend, supplement or terminate, or agree to modify, amend,
supplement or terminate its charter, by-laws or other organizational documents in
any respect that could have a Material Adverse Effect; provided, however, that
modifications or amendments to the charter, bylaws or other organizational documents
of NCBFC solely to permit participation in the Capital Purchase Program and that are
otherwise acceptable to the Agent shall be permitted.”

     “(c) Modify, amend, supplement or terminate, or agree to modify, amend,
supplement or terminate the charter or other organizational documents of the Thrift
in any respect that would change the legal authority for or the limitations on
activities or investments by the Thrift except to the extent required by any
applicable law, rule, regulation or judicial or regulatory process; provided,
however, that modifications or amendments to the Thrift’s organizational documents
solely to permit the Thrift Conversion and/or participation in the Capital Purchase
Program and that are otherwise acceptable to the Agent shall be permitted.”

     (cc) The Credit Agreement is hereby further amended by deleting the proviso at the end of
Section 7.13 in its entirety and substituting in lieu thereof the following:

“provided, however, that (a) any Affiliate who is an individual may serve as an
employee or director of the Borrower and receive reasonable compensation for his
services in such capacity, (b) the Borrower may enter into any transaction with an
Affiliate providing for the leasing of Property, the rendering or receipt of
services or the purchase or sale of assets in the ordinary course of business if the
monetary or business consideration arising therefrom would be substantially as
advantageous to the Borrower as the monetary or business consideration which would
obtain in a comparable arm’s length transaction with a Person not an Affiliate and
(c) the Borrower may sell or assign to the Thrift loans or commitments made by the
Borrower so long as (i) such sales or assignments have been approved by all
applicable Governmental Authorities and the Borrower and the Thrift have received
all necessary and/or desirable exemptions from applicable laws or regulations
(including, without limitation, exemptions from

- 13 -

 

Regulation W of the Board of Governors of the Federal Reserve System and Sections
23A and 23B of the Federal Reserve Act) and (ii) 100% of the Net Cash Sale Proceeds
received by the Borrower in connection with such sales or assignments are paid to
the Agent in accordance with Section 2.9(c).”

     (dd) The Credit Agreement is hereby further amended by deleting clause (i) of the proviso set
forth in Section 7.14 in its entirety and substituting in lieu thereof the following:

     “(i) the foregoing shall not apply to restrictions or conditions imposed by law
(including, without limitation, limitations on NCBFC’s or the Thrift’s ability to
pay dividends to the extent imposed pursuant to the Capital Purchase Program) or by
this Agreement, any other Loan Document or the Senior Note Agreements,”

     (ee) The Credit Agreement is hereby further amended by inserting the following new Sections
7.16 and 7.17 in Article 7 in appropriate numerical order:

     “SECTION 7.16 NEW AND EXISTING LOANS AND COMMITMENTS.

     Following the Fourth Amendment Date, the Borrower shall not (x) originate, make
or extend any new loans or new commitments to make loans, (y) issue new letters of
credit or enter into any new risk participation agreements with respect to any
letters of credit, or (z) increase, refinance, extend the maturity of, or renew any
loans or commitments to make loans; provided, however, the Borrower may increase,
refinance, extend the maturity of, or renew a loan or commitment so long as: (a) the
principal amount of such loan or commitment, when aggregated with all other
then-outstanding loans and commitments, the increase, refinance, extension or
renewal of which was effected under and permitted by this Section, does not exceed
$54,000,000; and (b) such increase, refinance, extension or renewal is entered into
by the Borrower and its borrower under such loan or commitment prior to December 31,
2009. The Borrower may renew or extend existing letters of credit and risk
participation agreements with respect to letters of credit issued by unaffiliated
Persons and such renewals and extensions will not be deemed to be refinances,
extensions of renewals of a loan or commitment; provided, however, that if the
Borrower is required to fund a draw under any such letter of credit or to fund its
participation in any such risk participation agreement, then the amount of such
funding shall be deemed to be a renewal or a loan or commitment, subject to the
limitation set forth in clause (a) of the proviso set forth in the immediately
preceding sentence.

     SECTION 7.17 FDIC GUARANTEE PROGRAM PARTICIPATION.

     So long as the Borrower or the Thrift has any Indebtedness outstanding under
Section 7.1(f), the Borrower will not, and will not permit the Thrift to, opt out of
the FDIC Guarantee Program.”

- 14 -

 

     (ff) The Credit Agreement is hereby further amended by deleting Section 8.4 in its entirety
and substituting in lieu thereof the following:

     “SECTION 8.4 OTHER COVENANTS.

     Failure by the Borrower to perform or observe the agreements of the Borrower
contained in Sections 7.9 or 7.13 hereof or any other term, condition or covenant of
this Agreement (other than those described in Sections 8.1, 8.2 or 8.3 hereof) or
failure by the Borrower or NCBFC to perform or observe its agreements set forth in
any of the other Loan Documents to which it is a party, including, without
limitation, any of the Notes, which shall remain unremedied for a period of thirty
(30) days after notice thereof shall have been given to the Borrower by the Agent;
provided, however, that, in the event that a grace or cure period applicable to such
failure is set forth in any such Loan Document (or if such Loan Document shall
specify that no grace or cure period shall apply to such failure), such grace or
cure period set forth in the applicable Loan Document shall apply instead of the
grace period set forth in this Section; or,”

     (gg) The Credit Agreement is hereby further amended by deleting clause (a) of Section 8.11 in
its entirety and substituting in lieu thereof the following:

     “(a) Any Governmental Authority having regulatory authority over the Borrower
or any Subsidiary shall impose any Borrower- or Subsidiary-specific restriction upon
the payment of dividends from any such Subsidiary to the Borrower (other than
restrictions on the payment of dividends solely to the extent imposed pursuant to
the Capital Purchase Program); or”

     (hh) The Credit Agreement is hereby further amended by inserting the following new Sections
8.13 and 8.14 into Article 8 in appropriate numerical order:

     “SECTION 8.13 INVALIDITY OF LOAN DOCUMENTS

     Any provision of any Loan Document, at any time after its execution and
delivery and for any reason other than as expressly permitted hereunder or
thereunder or satisfaction in full of all the Obligations, ceases to be in full
force and effect; or the Borrower or NCBFC or any other Person contests in any
manner the validity or enforceability of any provision of any Loan Document; or the
Borrower or NCBFC denies that it has any or further liability or obligation under
any Loan Document, or purports to revoke, terminate or rescind any provision of any
Loan Document.

     SECTION 8.14 FAILURE OF SECURITY.

     Following the execution and delivery of the Security Documents by the Borrower
and NCBFC and the filing of any related UCC-1 financing statements,

- 15 -

 

the Agent shall cease to have a valid and perfected first priority security interest
in any of the Collateral.”

     Section 2. Termination of Swing Line. The Borrower acknowledges and agrees that the
Swing Line Limit has been reduced to zero and that the Swing Line Lender will not, and has no
obligation to, fund any requested Swing Line Loan.

     Section 3. Limited Waiver. At the request of the Borrower, but subject to the
satisfaction of the conditions precedent set forth in Section 4 below, the Consenting Banks hereby
waive any Events of Default arising solely as the result of the Specified Default. The Borrower
acknowledges and agrees that the limited waiver contained in the foregoing sentence shall not be
deemed to be or constitute a consent to any future action or inaction on the part of the Borrower,
shall not waive or amend (or be deemed to be or constitute a waiver of or amendment to) any other
covenant, term or provision in the Credit Agreement or any of the other Loan Documents, and shall
not hinder, restrict or otherwise modify the rights and remedies of the Agent or the Banks
following the occurrence of any other Default or Event of Default under the Credit Agreement or any
other Loan Document.

     Section 4. Effectiveness of Amendments and Limited Waiver. The effectiveness of this
Amendment (and the amendments and limited waiver contained herein) is subject to the truth and
accuracy of the representations set forth in Sections 7 and 8 below and receipt by the Agent of
each of the following, each of which shall be in form and substance satisfactory to the Agent:

     (a) Counterparts of this Amendment duly executed by the Borrower, the Agent and the Majority
Banks;

     (b) Evidence of the effectiveness (including fully executed copies) of an amendment and waiver
duly executed by each of the parties to the Senior Note Agreement pursuant to which the parties
thereto amend the applicable terms and provisions of the Senior Note Agreement consistent with the
amendments herein to the extent applicable to the Senior Note Agreement and waive any default
and/or event of default arising under the Senior Note Agreement as a result of the Borrower’s
failure to comply with the covenants relating to the Specified Default in the Credit Agreement as
incorporated by reference in the Senior Note Agreement;

     (c) An executed Notice of Irrevocable Reduction and Termination, substantially in the form
attached hereto as Exhibit A, shall have been delivered;

     (d) Evidence that an amendment fee in the amount of 0.50% of each Consenting Bank’s Revolving
Commitment has been paid to the Agent for distribution to those Consenting Banks for whom the
Administrative Agent (or its counsel) shall have received an executed signature page of this
Amendment from such Consenting Bank (without condition or restriction) on or before 5:00 p.m. EDT
on March 30, 2009; and

     (e) Such other documents, agreements, instruments, certificates or other confirmations as the
Agent may reasonably request.

 - 16 - 

 

     Section 5. Guaranty and Security Documents. As soon as practicable, but no later than
30 days after the date this Amendment becomes effective, the Borrower shall deliver, or shall cause
to be delivered, to the Agent the following, each in form and substance satisfactory to the Agent:

     (a) A security agreement (the “Security Agreement”) executed by the Borrower pursuant
to which the Borrower pledges and grants a lien in all of its personal property to the Agent on
behalf of itself, the Issuing Bank, the Banks, each Bank and Affiliate of a Bank that has entered
into or may enter into a Swap Contract with the Borrower or any of its Subsidiaries (collectively,
the “Bank Secured Parties”) and the holders of the Senior Notes (collectively, with the
Bank Secured Parties, the “Secured Parties”) to secure the Obligations and the amounts
outstanding under the Senior Notes;

     (b) A guaranty agreement (the “Guaranty Agreement”) executed by NCB Financial
Corporation (“NCBFC”) pursuant to which NCBFC guarantees all of the Obligations;

     (c) A pledge agreement (the “Pledge Agreement”, together with the Guaranty Agreement
and the Security Agreement, the “Security Documents”) executed by NCBFC pursuant to which
NCBFC pledges to the Agent for the benefit of the Secured Parties a lien in all of the Capital
Stock of the Thrift to secure the Obligations and the amounts outstanding under the Senior Notes;

     (d) Certified copies of (x) all corporate action taken by the Borrower and NCBFC respectively
to authorize the execution, delivery and performance of each of the Security Documents to which
each is a party and (y) all consents, approvals, authorizations, registrations, or filings required
to be made or obtained by the Borrower and/or NCBFC in connection with the Security Documents (and
such consents, approvals, authorizations, registrations, filings and orders shall be in full force
and effect and all applicable waiting periods shall have expired);

     (e) The certified charter and by-laws of NCBFC, certified by its Secretary or assistant
Secretary;

     (f) An incumbency certificate with respect to NCBFC;

     (g) A certificate of good standing or certificate of similar meaning with respect to NCBFC
issued as of a recent date by the Secretary of State of the State of Delaware and certificates of
qualification to transact business or other comparable certificates issued by each Secretary of
State (and any state department of taxation, as applicable) of each state in which NCBFC (A) has a
place of business or (B) is otherwise required to be so qualified and in the case of this clause
(B), where the failure to be so qualified could reasonably be expected to have a Material Adverse
Effect;

     (h) Current UCC searches with respect to the Borrower and NCBFC, in form and substance
satisfactory to the Agent, conducted in the jurisdiction of formation of such Person (or other
appropriate jurisdiction as may be required under the Uniform Commercial Code), in each

 - 17 - 

 

case indicating that there are no UCC financing statements of record on any of the assets of
the Borrower or NCBFC other than Permitted Liens or Liens which were or are to be terminated on or
prior to the Fourth Amendment Date;

     (i) Evidence that each document (including, without limitation, any UCC financing statement)
required by the Security Documents or under any applicable law or reasonably deemed necessary or
appropriate by the Agent to be filed, registered or recorded in order to create in favor of the
Agent, for the benefit of the Secured Parties, a perfected first-priority lien on the collateral
described therein, shall have been filed, registered or recorded;

     (j) All certificates representing Capital Stock of the Thrift that have been pledged by NCBFC
under to the Pledge Agreement, together with an undated stock power for each such certificate
executed in blank by a duly authorized officer or agent of NCBFC;

     (k) Favorable opinions of counsel to the Borrower and NCBFC covering such matters as the Agent
may request; and

     (l) Such other documents, agreements, instruments, certificates or other confirmations as the
Agent may request.

The Borrower acknowledges and agrees that failure to comply with the terms of this Section 5 within
30 days following the effective date of this Amendment shall result in an immediate Event of
Default under the Credit Agreement. Further, the Borrower hereby authorizes the Agent to pre-file
a UCC-1 financing statement naming the Borrower as debtor and the Agent as secured party and
listing as collateral “all assets” of the Borrower.

     Section 6. Authorization to Enter Into Security Documents. Each of the Banks party
hereto authorizes the Agent, on behalf of the Banks, to enter into the Security Documents and a
collateral agency agreement, and each of the Banks acknowledges and agrees that the collateral
agency agreement will define the relative rights of the Bank Secured Parties, on the one hand, and
the holders of the Senior Notes, on the other hand, to share in the proceeds of the collateral
encumbered by the Security Documents.

     Section 7. Representations of the Borrower. The Borrower represents and warrants to
the Agent and the Banks that:

     (a) Corporate Power and Authority. The Borrower has the power and authority to
execute, deliver and perform the terms and provisions of this Amendment, and has taken all
necessary action to duly authorize the execution, delivery and performance by the Borrower of this
Amendment. Each of this Amendment and the Credit Agreement, as amended by this Amendment,
constitutes the legal, valid and binding obligation of the Borrower enforceable in accordance with
its terms, except to the extent that the enforceability thereof may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws generally affecting
creditors’ rights and by equitable principles.

 - 18 - 

 

     (b) No Violation. The execution, delivery and performance by the Borrower of this
Amendment, and compliance by the Borrower with the terms and provisions of the Credit Agreement, as
amended by this Amendment: (i) will not contravene any provision of any law, statute, rule or
regulation or any order, writ, injunction or decree of any court or Governmental Authority, (ii)
will not conflict with or result in any breach of any of the terms, covenants, conditions or
provisions of, or constitute a default under, or result in the creation or imposition of (or the
obligation to create or impose) any Lien upon any of the property or assets of the Borrower or any
of its Subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust, credit
agreement or loan agreement, or any other agreement, contract or instrument, to which the Borrower
or any of its Subsidiaries is a party or by which it or any of its property or assets is bound or
to which it may be subject or (iii) will not violate any provision of the charter documents of the
Borrower.

     (c) Governmental Approvals. No order, consent, approval, license, authorization or
validation of, or filing, recording or registration with (except for those that have otherwise been
obtained or made on or prior to the date of the effectiveness of this Amendment and which remain in
full force and effect on such date), or exemption by, any Governmental Authority, is required to
authorize, or is required in connection with, (i) the execution, delivery and performance of this
Amendment by the Borrower or (ii) the legality, validity, binding effect or enforceability of
Credit Agreement, as amended by this Amendment, against the Borrower.

     (d) No Default. No Default or Event of Default shall exist immediately after giving
effect to this Amendment.

     Section 8. Reaffirmation of Representations. The Borrower hereby repeats and
reaffirms all representations and warranties made by it to the Agent and the Banks in the Credit
Agreement, as amended by this Amendment, and the other Loan Documents to which it is a party on and
as of the date hereof (and after giving effect to this Amendment) with the same force and effect as
if such representations and warranties were set forth in this Amendment in full (except to the
extent that such representations and warranties relate expressly to an earlier date, in which case
such representations and warranties were true and correct as of such earlier date).

     Section 9. No Further Amendments; Ratification of Liability. Except as expressly
amended hereby, the Credit Agreement and each of the other Loan Documents shall remain in full
force and effect in accordance with their respective terms. The Borrower hereby ratifies, confirms
and reaffirms its liabilities, its payment and performance obligations (contingent or otherwise)
and its agreements under the Credit Agreement and the other Loan Documents, all as amended by this
Amendment. The Banks’ agreement to the terms of this Amendment or any other amendment of the
Credit Agreement or any other Loan Document shall not be deemed to establish or create a custom or
course of dealing among the Borrower or the Banks, or any of them. This Amendment shall be deemed
to be a “Loan Document” for all purposes under the Credit Agreement.

     Section 10. No Waiver; References to the Credit Agreement. Except as expressly
provided herein, nothing contained herein shall be deemed to constitute a waiver of compliance

 - 19 - 

 

with any term or condition contained in the Credit Agreement or any of the other Loan
Documents. The Agent and the Banks expressly reserve all rights, privileges and remedies under the
Loan Documents. Each reference to the Credit Agreement in any of the Loan Documents (including the
Credit Agreement) shall be deemed to be a reference to the Credit Agreement, as amended by this
Amendment.

     Section 11. Benefits. This Amendment shall be binding upon and shall inure to the
benefit of the parties hereto and their respective permitted successors and assigns. This
Amendment is solely for the benefit of the Borrower, the Banks and the Agent, and no term or
provision hereof shall be deemed to confer any benefit or rights on any other Person.

     Section 12. Expenses. The Borrower agrees to reimburse the Agent on demand for all
reasonable costs and expenses (including, without limitation, attorneys’ fees) incurred by such
parties in negotiating, documenting and consummating this Amendment, the Security Documents, the
other documents referred to herein, and the transactions contemplated hereby and thereby.

     Section 13. Severability. In case any provision of or obligation under this Amendment
shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and
enforceability of the remaining provisions or obligations, or of such provision or obligation in
any other jurisdiction, shall not in any way be affected or impaired thereby.

     Section 14. Headings. Headings and captions used in this Amendment are included for
convenience of reference only and shall not be given any substantive effect.

     Section 15. GOVERNING LAW. THIS AMENDMENT SHALL, PURSUANT TO NEW YORK GENERAL
OBLIGATIONS LAW SECTION 5-1401, BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE
WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

     Section 16. WAIVER OF JURY TRIAL. THE BORROWER, THE AGENT AND THE LENDERS HEREBY
IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING ARISING OUT
OF OR RELATING TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY AND AGREE THAT ANY SUCH
ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

     Section 17. Counterparts; Integration. This Amendment may be executed and delivered
via facsimile with the same force and effect as if an original were executed and may be signed in
any number of counterparts, each of which shall be an original, with the same effect as if the
signatures hereto were upon the same instrument. This Amendment constitutes the entire agreement
and understanding among the parties hereto with respect to the subject matter hereof and supersede
any and all prior agreements and understandings, oral or written, relating to the subject matter
hereof.

[Signatures On Following Pages]

 - 20 - 

 

Exhibit 10.64

     IN WITNESS WHEREOF, the parties hereto have caused this Fourth Amendment to Credit Agreement
and Limited Waiver to be executed as of the date first above written.

	 	 	 	 	 	 	 	 	 
	 	 	BORROWER:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	NATIONAL CONSUMER COOPERATIVE BANK,
     D/B/A/ NATIONAL COOPERATIVE BANK	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 	 	AGENT AND BANKS:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	SUNTRUST BANK, as Administrative Agent, as a Bank, 
     as Issuing Bank, and as Swing Line Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

[Signatures Continue on Following Pages]

 

 

Exhibit 10.64

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	PNC BANK, NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

[Signatures Continue on Following Pages]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	WACHOVIA BANK, N.A.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

[Signatures Continue on Following Pages]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	CALYON NEW YORK BRANCH	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

[Signatures Continue on Following Pages]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	UNION BANK OF CALIFORNIA, N.A.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

[Signatures Continue on Following Pages]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

[Signatures Continue on Following Pages]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

[Signatures Continue on Following Pages]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	CREDIT SUISSE, CAYMAN ISLANDS BRANCH	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

[Signatures Continue on Following Pages]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	MANUFACTURERS AND TRADERS TRUST COMPANY	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

[Signatures Continue on Following Pages]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	COÖPERATIEVE CENTRALE RAIFFEISEN BOERENLEENBANK B.A.,
“RABOBANK INTERNATIONAL”, NEW YORK BRANCH	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

[Signatures Continue on Following Pages]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	MIZUHO CORPORATE BANK (USA)	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

[Signatures Continue on Following Pages]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	U.S. BANK N.A.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	Title:
	 	 

	 	 
	 

	 	 	 	 	 	 

	 	 

[Signatures Continue on Following Pages]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	THE BANK OF NOVA SCOTIA	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	Title:
	 	 

	 	 
	 

	 	 	 	 	 	 

	 	 

[Signatures Continue on Following Pages]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	TAIPEI FUBON COMMERCIAL BANK,

NEW YORK AGENCY	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	Title:
	 	 

	 	 
	 

	 	 	 	 	 	 

	 	 

[Signatures Continue on Following Page]

 

 

[Signature Page to Fourth Amendment to Credit Agreement and Limited Waiver with

National Consumer Cooperative Bank]

	 	 	 	 	 	 	 	 	 
	 	 	FIRST COMMERCIAL BANK,

LOS ANGELES BRANCH	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	Title:
	 	 

	 	 
	 

	 	 	 	 	 	 

	 	 

 

 

Exhibit 10.64

EXHIBIT A

FORM OF NOTICE OF IRREVOCABLE REDUCTION AND TERMINATION

March 30, 2009

SunTrust Bank, as Administrative Agent

303 Peachtree Street

Atlanta, Georgia 30308

Attention:

Ladies and Gentlemen:

     Reference is made to that certain Credit Agreement dated as of May 1, 2006 (as it may be
amended, modified, restated or supplemented from time to time, the “Credit Agreement”;
capitalized terms used herein, and not otherwise defined herein, shall have their respective
defined meanings as set forth in the Credit Agreement) among National Consumer Cooperative Bank, a
corporation chartered by Act of Congress of the United States which conducts business under the
trade name National Cooperative Bank (the “Borrower”), the Banks named therein (the
“Banks”), and SunTrust Bank, as Issuing Bank, Swing Line Lender, and Administrative Agent
(the “Agent”).

     Pursuant to Section 2.3(a)(iii) of the Credit Agreement, the Borrower hereby irrevocably
requests that the Aggregate Revolving Commitments be permanently reduced by the following amounts
on the following dates:

	 	 	 	 	 	 	 	 	 
	Amount of Aggregate	 	 	 	 	 
	Commitment Reduction:	 	 	 	Date of Reduction:	 
	$	125,000,000.00	 	 	 
	 	March 31, 2009
	$	30,000,000.00	 	 	 
	 	June 30, 2009
	$	30,000,000.00	 	 	 
	 	September 30, 2009
	$	30,000,000.00	 	 	 
	 	December 31, 2009
	$	30,000,000.00	 	 	 
	 	March 31, 2010
	$	30,000,000.00	 	 	 
	 	June 30, 2010
	$	30,000,000.00	 	 	 
	 	September 30, 2010

     Further, pursuant to Section 2.3(a)(iii) of the Credit Agreement, the Borrower hereby
irrevocably requests that the Aggregate Revolving Commitments be terminated on December 15, 2010
and the Borrower agrees to prepay any outstanding Loans (and interest thereon) on such date.

	 	 	 	 	 	 	 
	 	 	NATIONAL CONSUMER COOPERATIVE BANK D/B/A NATIONAL COOPERATIVE BANK	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]