Document:

EX-10.1

 Exhibit 10.1 

AGREEMENT 
 This
agreement, effective April 16, 2015 (this “Agreement”), is made by and among LEAP TIDE CAPITAL MANAGEMENT, LLC, and JAN
LOEB (each, a “Leap Tide Stockholder,” and collectively, the “Leap Tide Group”), and DIADEXUS, INC. (“DiaDEXUS” or the
“Company”). In consideration of and in reliance upon the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows: 
 ARTICLE 1 

DEFINITIONS 

Section 1.01 Defined Terms. 
 For
purposes of this Agreement: 
 (a) “2015 Annual Meeting” shall mean
the Company’s 2015 annual meeting of stockholders. 
 (b) “2016 Annual
Meeting” shall mean the Company’s 2016 annual meeting of stockholders. 
 (c)
“Affiliate” or “Affiliates” shall have the same meanings set forth in Rule 12b-2 promulgated by the SEC under the Exchange Act. 

(d) “Beneficial Owner” or “Beneficial
Ownership” shall have the same meanings as set forth in Rule 13d-3 promulgated by the SEC under the Exchange Act. 

(e) “Board” shall mean the board of directors of the Company. 

(f) “Leap Tide Group Nominee” shall mean John J. Sperzel III or his Replacement.

 (g) “Company Governing Documents” shall mean the Certificate of Incorporation
of the Company and the bylaws of the Company, each as currently in effect from time to time during the term of this Agreement. 
 (h)
“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
 (i)
“Group” shall have the same meaning as set forth in Rule 13d-5 promulgated by the SEC under the Exchange Act. 

(j) “Person” shall mean any individual, corporation (including not-for-profit),
general or limited partnership, limited liability or unlimited liability company, joint venture, estate, trust, association, organization or other entity of any kind or nature. 

(k) “Replacement” shall have the meaning set forth in Section 3.02(d). 

(l) “Securities Act” shall mean the Securities Act of 1933, as amended. 

  
 1. 

 (m) “SEC” shall mean the United States
Securities and Exchange Commission. 
 (n) “Standstill Period” shall mean the
period from the effective date of this Agreement through the earlier of (i) 10 days prior to the deadline for nominating individuals for election to the Board at the 2016 Annual Meeting and (ii) the date that is thirteen (13) months
after the date of the 2015 Annual Meeting. 
 ARTICLE 2 

REPRESENTATIONS AND WARRANTIES 

Section 2.01 Authority; Binding Agreement. 

(a) The Company hereby represents and warrants that this Agreement (i) has been duly authorized, executed and delivered by it, and
is a valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as may be limited by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium, and similar laws relating to or
affecting creditors’ rights generally and general equitable principles (whether considered in a proceeding in equity or at law), in each case now or hereafter in effect, (ii) does not require the approval of the stockholders of the Company
and (iii) does not and will not violate any law, any order of any court or other agency of government, the Company Governing Documents or any provision of any indenture, agreement or other instrument to which the Company or any of its
properties or assets is bound, or conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any such indenture, agreement or other instrument, or result in the creation or imposition of, or give
rise to, any lien, charge, restriction, claim, encumbrance or adverse penalty of any nature whatsoever pursuant to any such indenture, agreement or other instrument except to the extent with respect to this Section 2.01(a)(iii), such breach,
default, lien, charge, restriction, claim, encumbrance or penalty as would not materially and adversely affect the ability of the Company to perform its obligations under this Agreement. 

(b) Each Leap Tide Stockholder represents and warrants that this Agreement (i) has been duly authorized, executed and delivered by
such Leap Tide Stockholder, and is a valid and binding obligation of such Leap Tide Stockholder, enforceable against such Leap Tide Stockholder in accordance with its terms, except as may be limited by bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium, and similar laws relating to or affecting creditors’ rights generally and general equitable principles (whether considered in a proceeding in equity or at law), in each case now or hereafter in effect, (ii) with
respect to Leap Tide Capital Management, LLC, does not require approval by any owners or holders of any equity interest in such Leap Tide Stockholder (except as has already been obtained) and (iii) does not and will not violate any law, any
order of any court or other agency of government, the charter or other organizational documents, if any, of such Leap Tide Stockholder as currently in effect or any provision of any agreement or other instrument to which such Leap Tide Stockholder
or any of its properties or assets is bound, or conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any such agreement or other instrument, or result in the creation or imposition of, or give
rise to, any lien, charge, restriction, claim, encumbrance or adverse penalty of any nature whatsoever pursuant to any such agreement or instrument except to the extent with respect to this Section 2.01(b)(iii), such breach, default, lien,
charge, 

  
 2. 

 
restriction, claim, encumbrance or penalty as would not materially and adversely effect on the ability of each such Leap Tide Stockholder to perform its or his obligations under this Agreement.

 Section 2.02 Beneficial Ownership. 

The Leap Tide Group represents that it is the Beneficial Owner of 5,225,349 shares of the Company’s common stock as of the effective date
of this Agreement. 
 ARTICLE 3 

COVENANTS 

Section 3.01 2015 Annual Meeting. At the 2015 Annual Meeting, the Leap Tide Group and its Affiliates agree to cause all voting securities of the
Company of which the Leap Tide Group and its Affiliates are the Beneficial Owners to be voted in favor of the following:  

(a) the Board’s slate of nominees; 

(b) subject to Section 3.02(a)(i), to approve the Company’s proposal to amend the Company’s Amended 2012 Equity Award
Incentive Plan; 
 (c) subject to Section 3.02(a)(i), to vote in favor of the Company’s advisory vote on executive
compensation; 
 (d) to approve the Company’s proposal to amend the Company’s certificate of incorporation to allow the
Board discretion to effect a reverse stock split; 
 (e) and to ratify the appointment of PricewaterhouseCoopers, LLP, all at the
2015 Annual Meeting (in each case, including any adjournments or postponements thereof); 
 provided, however, in the event
that Institutional Shareholders Services (“ISS”) recommends voting “against” with respect to proposals (b) and (c) at the 2015 Annual Meeting, the Leap Tide Group shall be permitted to vote in accordance with the ISS
recommendation on proposals (b) and (c) only. 
 Section 3.02 Board Nominee. 

(a) The Company agrees: 

(i) No later than the 2015 Annual Meeting, to take action to increase the size of the Board by one member to a total of six members;

 (ii) To include the Leap Tide Group Nominee in the Board’s slate of six nominees for election as directors of the Company at
the 2015 Annual Meeting; 
 (iii) To use its reasonable best efforts to cause the election of the Leap Tide Group Nominee to the
Board at the 2015 Annual Meeting (including recommending that the Company’s stockholders vote in favor of the election of the Leap Tide Group Nominee, 

  
 3. 

 
soliciting proxies in favor of such election and otherwise supporting him for election, in each case as and to the same extent as the Company solicits votes in favor of the other members of the
Company’s director nominee slate); 
 (iv) Not to increase the total number of directors that shall constitute the Board to more
than six directors prior to the 2015 Annual Meeting; 
 (v) To use its reasonable best efforts to hold the 2015 Annual Meeting no
later than June 30, 2015. 
 (b) Subsequent to the 2015 Annual Meeting and during the Standstill
Period if the then-current Leap Tide Nominee resigns (other than removal for cause) from the Board or is unable to serve as a director or nominee for election as director, for so long as the Leap Tide Group continues to own not less than 5% of the
DiaDEXUS outstanding common stock (without regard to ownership of any securities convertible into common stock but subject to adjustment for stock splits, reclassifications, combinations and similar adjustments), the Leap Tide Group shall have the
right to nonpublicly and confidentially recommend replacement candidates to such Leap Tide Group Nominee (a “Replacement”) who (i) is an “independent director” within the meaning of Rule 5605(a)(1) of the rules
of The NASDAQ Stock Market, and (ii) is acceptable to the Board (or Nominating and Governance Committee of the Board) after consideration in good faith, but in any event in the sole discretion of the Board (or Nominating and Governance
Committee of the Board). The Board (or Nominating and Governance Committee) shall consider such Replacement and, within 15 business days of such designation shall, make a determination as to whether such Replacement satisfies the requirements set
forth in this Section 3.02(b). If such Replacement satisfies the requirements set forth in this Section 3.02(b), the Board shall appoint such Replacement to the Board within ten business days of the Board making such determination. If the
Board determines that the Replacement does not meet the requirements set forth in Section 3.02(b), the Leap Tide Group shall be entitled to withdraw such Replacement and recommend a new Replacement. For so long as the Leap Tide Group is
entitled to recommend a new Leap Tide Group Nominee, the process set forth in this Section 3.02(b) shall continue until a Replacement has been appointed to the Board. For purposes of this Agreement, any designation by the Leap Tide Group shall
be made by Leap Tide Capital, LLC. For clarity, the Leap Tide Group shall not have the right to have a Leap Tide Group Nominee appointed to the Board or included in the Board’s slate nominated for election to the Board if the election of such
Leap Tide Group Nominee would cause more than one Leap Tide Group Nominee to be serving on the Board. 
 (c) For
purposes of this Agreement, the Board shall not be required to appoint a Leap Tide Group Nominee, or nominate a Leap Tide Group Nominee then serving on the Board for reelection to the Board, without any prejudice to the rights of the Leap Tide Group
to designate another Leap Tide Group Nominee or Replacement if such Leap Tide Group Nominee: 
 (i) commits a material breach
of either (A) the Company’s written corporate governance polices or other written policies or procedures applicable to non-management directors generally which may be adopted by the Board or a committee thereof in good faith and not for
the purpose of discriminating against the Leap Tide Group Nominee from time to time after the date of this Agreement, which material breach is not cured (if capable of being cured) within 15 days of receipt by such Leap Tide Group Nominee of written
notice from the Company specifying the nature of such material breach; or 

  
 4. 

 (ii) a material breach of this Agreement by the Leap Tide Group not cured (if capable of
being cured) within 15 days of receipt by the Leap Tide Group of written notice from the Company specifying the nature of such material breach. 

(d) The Leap Tide Group and the Leap Tide Group Nominee acknowledge that all members of the Board are required to comply with all
written corporate governance policies or other written policies or procedures applicable to non-management directors generally which may be adopted by the Board or a committee thereof in good faith and not for the purpose of discriminating against
the Leap Tide Group Nominee from time to time after the date of this Agreement. 
 Section 3.03 Withdrawal of DGCL Demand. Not later than
entry into this Agreement, and in any event throughout the Standstill Period, to withdraw any outstanding demand and not make any future demands on the Company pursuant to Section 220 of the Delaware General Corporation Law. 

Section 3.04 Agreements with Leap Tide Group Nominee. Prior to appointment to the Board, any Leap Tide Group Nominee shall complete the
Company’s standard director questionnaire and shall enter into a customary confidentiality agreement, if requested by the Board. 

Section 3.05 Standstill Period. 

(a) During the Standstill Period and except as expressly provided otherwise in Section 3.01 regarding the 2015 Annual Meeting, at
each meeting of the Company’s stockholders (whether an annual or a special meeting), or with respect to each action by written consent of the Company’s stockholders, the Leap Tide Group will cause all of the voting securities of the
Company of which the Leap Tide Group is the Beneficial Owners to (i) be present for quorum purposes, (ii) be voted in favor of any and all directors nominated by the Board for election and (iii) be voted against (or abstain from
voting on) any proposal made by any of the Company’s stockholders that is not recommended by the Board; provided, however, in the event that ISS recommends voting “against” with respect to with respect to proposals, then
Leap Tide Group shall be permitted to vote in accordance with the ISS recommendations. 
 (b) At all times during the Standstill
Period, each Leap Tide Stockholder and its Affiliates shall not, directly or indirectly, without the prior written consent of the Company: 

(i) solicit, or participate in or encourage any solicitation of, proxies (as such terms are defined in Rule 14a-1 promulgated under the
Exchange Act) with respect to any voting securities of the Company or become a participant in any contest relating to the election of directors of the Company or other stockholder proposals (whether made pursuant to Rule 14a-8 under the Exchange Act
or otherwise) not recommended for approval by the Board; 

  
 5. 

 (ii) vote in favor of the removal of any director serving on the Board who has previously
been nominated by the Board; 
 (iii) propose or attempt to call a special meeting of stockholders; 

(iv) seek, solicit support for, encourage or participate in (whether publicly or privately), any stockholder action without a meeting
of the stockholders of the Company that is not recommended for approval by the Board; 
 (v) deposit or maintain any voting
securities of the Company in a voting trust or similar arrangement; 
 (vi) take any action to form, join or in any way participate
in any partnership, limited partnership, syndicate or other Group (other than solely among members of the Leap Tide Group) with respect to the Company’s voting securities or otherwise act in concert with any Person for the purpose of
circumventing the provisions or purposes of this Agreement; 
 (vii) otherwise act, individually or in concert with any Person, to
seek to control, direct or influence the management, Board (or any individual members thereof) or policies of the Company; provided that this Section 3.06(b)(viii) shall not prevent the Leap Tide Group from speaking privately with members of
the Board or management for the purpose of offering their suggestions or other input regarding the Company; 
 (viii) encourage,
advise or influence any other person or assist any third party in so encouraging, assisting or influencing any Person with respect to the giving or withholding of any proxy vote at any annual or special meeting of stockholders in opposition to any
nominee on the Company’s slate of nominees for election as directors of the Company or in opposition to the Board’s recommendation for any other proposal brought before the meeting; 

(ix) finance or offer to provide financing for an attempt by any Person to engage in any of the activities or actions in which the Leap
Tide Group is prohibited or restricted from engaging in by the terms of this Agreement; 
 (x) make or in any way advance any request
or proposal to amend, modify or waive any provision of this Agreement except in a nonpublic and confidential manner which nonpublic and confidential request or proposal is not reasonably likely to require disclosure by any party hereto, pursuant to
the Securities Act or the Exchange Act or any rule or regulation promulgated thereunder; or 
 (xi) announce an intention to do,
solicit, assist, prompt, induce or attempt to induce others to do, any of the actions restricted or prohibited under subparagraphs (i) through (x) above. 

Section 3.06 Public Announcements. 

(a) Leap Tide Group acknowledges and agrees that neither Party shall issue a press release regarding entry into this Agreement, and
that the sole disclosure by the Parties hereto 

  
 6. 

 
shall be by means of (i) a Current Report on Form 8-K (“Form 8-K”) by the Company and (ii) an amendment to Leap Tide Group’s Schedule 13D
(“Schedule 13D/A”), each setting forth the material terms of this Agreement. No Party or any of its Affiliates shall make any public statement concerning the subject matter of this Agreement inconsistent with the Form 8-K and
Schedule 13D/A. 
 (b) Subject to applicable law, during the Standstill Period or if earlier, until such time as the other Party or
any of its agents, subsidiaries, affiliates, successors, assigns, officers, key employees or directors shall have breached this Section 3.06(b), each Party shall refrain from making or, causing to be made, and shall use its reasonable best
efforts to cause its Affiliates not to make, any statement or announcement that criticizes or disparages, (i) the other Party, its officers, directors, principals, trustees, managing members or other Affiliates, or any person who has served as
an officer, director, principal, trustee or managing member, of such Party, or (ii) any action or inaction or matter taken or not taken by the Company, any decision of the Board or the Company’s officers or any discussion or consideration
of the Board. 
 (c) The foregoing shall not prevent the making of any factual statement in any compelled testimony or
production of information, either by legal process, subpoena, or as part of a response to a request for information from any governmental authority with jurisdiction over the party from whom information is sought, applicable listing requirements or
otherwise legally required; provided that the party from which such information is compelled shall, to the extent permitted by applicable law, provide the other party with prior written notice of the making of such compelled disclosure promptly so
that such other party may seek a protective order or other appropriate remedy and/or waive compliance with the provisions of this Agreement. If such protective order or other remedy is denied, and such party or any of its representatives are
nonetheless legally compelled to disclose such information, such party or its representative, as the case may be, will furnish only that portion of such information that is legally required, in the opinion of counsel, and will exercise best efforts
to obtain assurances that confidential treatment will be accorded to such information. 
 Section 3.07 Notice of 2016 Annual Meeting. The
Company agrees that in the event that the Company schedules the 2016 Annual Meeting for a date that is more than thirty (30) days before the one-year anniversary of the 2015 Annual Meeting, the Company shall provide the Leap Tide Group prior
written notice no less than five (5) business days prior to the day on which such notice of the date of the 2015 Annual Meeting is first mailed or such public disclosure of the date of the 2016 Annual Meeting is first made. 

ARTICLE 4 

OTHER PROVISIONS 

Section 4.01 Specific Enforcement; Special Remedy. 

Each of the Company and each Leap Tide Stockholder acknowledges and agrees that the other party would be irreparably injured in the event that
any provision of this Agreement is breached or not performed. Accordingly, it is agreed that each party shall be entitled to temporary and permanent injunctive relief with respect to each and any breach or purported repudiation of this Agreement by
the other and to specifically enforce strict adherence to this 

  
 7. 

 
Agreement and the terms and provisions hereof against the other in any action instituted in a court of competent jurisdiction, in addition to any other remedy which such aggrieved party may be
entitled to obtain. Moreover, in the event of the breach of any of the provisions of this Agreement, timeliness in obtaining relief is of the essence. 

Section 4.02 Amendments. 
 Neither
this Agreement nor any term hereof may be changed, waived, discharged or terminated orally or in writing, except that any term of this Agreement may be amended by a writing signed by the parties, and the observance of any such term may be waived
(either generally or in a particular instance and either retroactively or prospectively) by a writing signed by the party against whom such waiver is to be asserted. 

Section 4.03 Notices. 
 All notices,
consents, requests, instructions, approvals and other communications provided for herein and all legal process in regard hereto shall be in writing and shall be deemed validly given, made or served, if (a) given by telecopy or email, when such
telecopy or email is transmitted to the telecopy number set forth below or sent to the email address set forth below and the appropriate confirmation is received or (b) if given by any other means, when actually received during normal business
hours at the address specified in this subsection: 
  

	 	(a)	if to the Company, to: 

 DiaDEXUS, Inc. 

349 Oyster Point Blvd. 
 South
San Francisco, CA 94080 
 Attention: Chairman of the Board 

Email: lrafield@diaDEXUS.com 

with copies to (which shall not constitute notice): 

Cooley LLP 
 3175 Hanover Street

 Palo Alto, California 94304 

Attention: Glen Sato 

Facsimile: (650) 849-7400 

Email: gsato@cooley.com 
  

	 	(b)	if to any Leap Tide Stockholder, to: 

 Leap Tide Capital Management, LLC 

10451 Mill Run Circle, Suite 400 

Owings Mills, MD 21117 

Attention: Jan Loeb 
 Facsimile:
(410) 356-8804 
 Email: jloeb@leaptidecapital.com 

  
 8. 

 With copies to (which shall not constitute notice): 

Olshan Frome Wolosky LLP 
 65
East 55th Street 
 New York, New York 10022 

Attention: Steve Wolosky 

Facsimile: (212) 451-2333 

Email: swolosky@olshanlaw.com 

Any party from time to time may change its address for the purpose of notices to that party by giving a similar notice specifying a new
address, but no such notice shall be deemed to have been given until it is actually received by the party sought to be charged with the contents thereof. Copies delivered solely to outside counsel shall not constitute adequate notice. 

Section 4.04 Successors and Assigns. 

This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties. This Agreement may not be
assigned by any Party without the prior written consent of the other Party, except to a party who acquires, whether through merger, acquisition or sale of substantially all of the assets of such Party. 

Section 4.05 No Third Party Beneficiaries. 

Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any Person, other than the parties hereto and their
respective successors and assigns, any legal or equitable right, remedy or claim under or in respect of this Agreement and any conditions and provisions hereof being intended to be and being for the sole and exclusive benefit of the parties hereto
and their respective successors and assigns, and for the benefit of no other Person. 
 Section 4.06 Counterparts. 

This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
 Section 4.07 Headings.

 The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 

Section 4.08 Governing Law; Choice of Venue. 

(a) This Agreement shall be governed by and construed in accordance with the internal laws of the State of California applicable to
agreements made and to be performed within that state. 

  
 9. 

 (b) Each of the parties hereto: (i) consents to submit itself to the personal
jurisdiction of the Federal and state courts located in the State of California, San Mateo County, in the event any dispute arises out of this Agreement or the transactions contemplated by this Agreement, (ii) agrees that it shall not attempt
to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (iii) agrees that it shall not bring any action relating to this Agreement or the transactions contemplated by this Agreement in any court
other than the Federal and state courts located in the State of California, San Mateo County, and each of the parties irrevocably waives the right to trial by jury and (iv) each of the parties irrevocably consents to service of process by a
reputable overnight mail delivery service, signature requested, to the address of such parties’ principal place of business or as otherwise provided by applicable law. THIS AGREEMENT SHALL BE GOVERNED IN ALL RESPECTS, INCLUDING WITHOUT
LIMITATION VALIDITY, INTERPRETATION AND EFFECT, BY THE LAWS OF THE STATE OF CALIFORNIA, WITHOUT GIVING EFFECT TO THE CHOICE OF LAW PRINCIPLES OF SUCH STATE THAT WOULD COMPEL THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION. 

Section 4.09 Waiver; Remedies. 
 No
delay on the part of any party hereto in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party hereto of any right, power or privilege hereunder operate as a waiver of any
other right, power or privilege hereunder, nor shall any single or partial exercise of any right, power or privilege hereunder, preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder. 

Section 4.10 Severability. 
 If at
any time subsequent to the date hereof, any provision of this Agreement shall be held by any court of competent jurisdiction to be illegal, void or unenforceable, such provision shall be of no force and effect, but the illegality or unenforceability
of such provision shall have no effect upon the legality or enforceability of any other provision in this Agreement. 
 Section 4.11 Additional
Parties. 
 Each Party and its Affiliates, by its execution of this Agreement, agrees that it is a party to, and bound by, all of the
provisions of this Agreement. 
 Section 4.12 Fees and Expenses. 

Each Party shall be responsible for its own fees and expenses incurred in connection with the negotiation, execution and effectuation of this
Agreement and the transactions contemplated hereby, including, but not limited to, any matters related to the 2015 Annual Meeting; provided, however, that the Company shall reimburse the Leap Tide Group for its reasonable, out-of-pocket related fees
and expenses, including fees and expenses of counsel for the Leap Tide Group, in an amount of $20,000. 

  
 10. 

 Section 4.13 Interpretation and Construction. 

Each of the parties hereto acknowledges that it has been represented by counsel of its choice throughout all negotiations that have preceded
the execution of this Agreement, and that it has executed the same with the advice of said independent counsel. Each party and its counsel cooperated and participated in the drafting and preparation of this Agreement and the documents referred to
herein, and any and all drafts relating thereto exchanged among the parties shall be deemed the work product of all of the parties and may not be construed against any party by reason of its drafting or preparation. Accordingly, any rule of law or
any legal decision that would require interpretation of any ambiguities in this Agreement against any party that drafted or prepared it is of no application and is hereby expressly waived by each of the parties hereto, and any controversy over
interpretations of this Agreement shall be decided without regards to events of drafting or preparation. 
 Section 4.14 Entire Agreement. 

This Agreement contains the entire understanding of the parties with respect to the subject matter hereof. 

[Signature Page Follow] 

  
 11. 

 IN WITNESS WHEREOF, each of
the parties hereto has executed this Agreement, or caused the same to be executed by its duly authorized representative as of the date first above written. 
  

	
	DIADEXUS, INC.
	
	 /s/ Lori Rafield, Ph.D.

	Lori Rafield, Ph.D.
	Chairman of the Board of Directors
	
	LEAP TIDE GROUP:
	
	LEAP TIDE CAPITAL MANAGEMENT, LLC
	
	 /s/ Jan Loeb

	Name: Jan Loeb
	Title:   Managing Member
	
	 /s/ Jan Loeb

	Jan Loeb
	In his individual capacity
	
	 /s/ John J. Sperzel III

	John J. Sperzel III

 [SIGNATURE PAGE TO LEAP
TIDE AGREEMENT]Exhibit 4.1 Rockland Trust Company Amended and Restated 401(k) Restoration Plan

Exhibit 4.1

ROCKLAND TRUST COMPANY
AMENDED AND RESTATED 401(k) RESTORATION PLAN

Rockland Trust Company has adopted this Rockland Trust Company Amended and Restated 401(k) Restoration Plan, effective as of January 1, 2015, for the benefit of officers of the Bank or of Independent Bank Corp. who the Administrator has selected to participate in the Plan. This Plan is intended to comply with Internal Revenue Code  Section 409A and any regulatory or other guidance issued under Section 409A. The Bank intends the Plan to be considered an unfunded arrangement, maintained primarily to provide nonqualified deferred compensation for the participants, who are members of a select group of management or highly compensated employees of the Company or the Bank, for tax purposes and for purposes of ERISA.  Capitalized terms used in this Plan have the meanings set forth below in Section VIII, Definitions. 

SECTION I
ELIGIBILITY AND VESTING

		
	1.1
	Eligibility.  The Plan is available to a select group of management or highly compensated employees, as determined by the Administrator.  The  Participants selected by the Administrator are set forth on Appendix A. Selection as a Participant in one Plan Year does not guarantee selection as a Participant for a future Plan Year.

		
	1.2
	Vesting.  

(a)    The portion of the Participant’s Account consisting of (i) elective deferrals of Base Salary; (ii) supplemental non-elective contributions that would have been credited to the Participant under the 401(k) Plan during the Plan Year; (iii) discretionary contributions that would have been credited to the Participant under the 401(k) Plan during the Plan Year; and (iv) all earnings thereon, shall be fully vested at all times.

(b)    The portion of the Participant’s Account consisting of additional discretionary contributions made to any Participant under this Plan without regard to the 401(k) Plan (and any earnings thereon) shall be subject to whatever vesting schedule the Company or the Bank may determine at the time such additional discretionary contributions are made .  The amount of such additional employer contributions and any applicable vesting schedule shall be set forth on Appendix B.

SECTION II
EMPLOYER CONTRIBUTIONS; ELECTIVE DEFERRALS; EARNINGS

		
	2.1
	Employer Contributions.  The intention of the employer contributions described below is restore to each Participant the matching and discretionary contributions which would have 

been made to the 401(k) Plan but were prohibited due to the applicable annual limits under the Code for 401(k) Plan contributions.  Each Plan Year, the Bank shall contribute to the Plan on behalf of each Participant all of the applicable employer contributions described below.

(a)    Matching Contributions.  The employer shall contribute to this Plan an amount equal to the employer matching contributions that would have been credited to the Participant under the 401(k) Plan during that Plan Year if the Participant’s elective deferrals hereunder had been made under the 401(k) Plan instead of under this Plan, without regard to any applicable IRS annual limitations on compensation and benefit limits to the 401(k) Plan.  

As of January 1, 2015, the employer matching contributions under the 401(k) Plan equals 25% of the amount of the 401(k) Plan participant’s salary reduction (less any “catch up” contributions) that the participant elected to defer into the 401(k) Plan, up to 6% of the participant’s salary reduction of the participant’s payroll period compensation (as defined in the 401(k) Plan).  In other words, the employer contributes a maximum matching contribution to the 401(k) Plan equal to 1.5% of a 401(k) Plan participant’s compensation (as defined in the 401(k) Plan), subject to annual IRS limits on compensation and benefits

Thus, as of January 1, 2015, the employer shall contribute a matching contribution to this Plan equal to 25% of the amount of the Participant’s reduction of the Participant’s payroll period Compensation (as defined in this Plan) into this Plan, up to 6% of the Participant’s reduction of the Participant’s payroll period Compensation (as defined in this Plan), without regard to annual IRS limits on compensation and benefits.  In other words, the employer shall contribute a maximum matching contribution to this Plan equal to 1.5% of a Participant’s Compensation as defined under this Plan (which includes cash annual incentive compensation but excludes bonuses).  

The matching contribution provisions under this Plan are subject to change, if the matching contribution provisions in the 401(k) Plan are amended. 

(b)    Non-Elective Contributions.  The employer non-elective contributions that would have been credited to the Participant under the 401(k) Plan during that Plan Year, but were not provided under the 401(k) Plan solely due to any applicable IRS annual limitations on contributions to the 401(k) Plan (but the Participant must have completed a Year of Service (as defined in the 401(k) Plan) during the Plan Year and must be employed by the Company or the Bank as of the last day of the Plan Year in order to receive this contribution, unless the Participant’s termination of employment is due to death, disability, normal retirement (which shall mean attaining age 65 with 10 years of service, measured from date of hire) or involuntary termination without Cause).  As of January 1, 2015, the employer non-elective contribution is an amount equal to 5% of Compensation for that year. The employer non-elective contribution amount is subject to change, if the 401(k) Plan is amended.

(c)    Supplemental Non-Elective Contributions.  The employer supplemental non-elective contributions that would have been credited to the Participant under the 401(k) Plan 

during that Plan Year, but were not provided under the 401(k) Plan solely due to any applicable IRS annual limitations on contributions to the 401(k) Plan (but the Participant must have completed a Year of Service (as defined in the 401(k) Plan) during the Plan Year and must be employed by the Company or the Bank as of the last day of the Plan Year in order to receive this contribution, unless the Participant’s termination of employment is due to death, disability, normal retirement (which shall mean attaining age 65 with 10 years of service, measured from date of hire) or involuntary termination without Cause).  As of January 1, 2015, the employer supplemental non-elective contribution equals 5% of the amount by which the Participant’s Compensation exceeds the Social Security wage base (as defined in the 401(k) Plan).  The employer supplemental non-elective contribution amount is subject to change, if the 401(k) Plan is amended.  As of January 1, 2015, the Social Security wage base is $118,500.

(d)    Discretionary Contributions to 401(k) Plan.  Any employer discretionary contributions that would have been credited to the Participant under the 401(k) Plan during that Plan Year, but were not provided under the 401(k) Plan solely due to any applicable IRS annual limitations on contributions to the 401(k) Plan ((but the Participant must have completed a Year of Service (as defined in the 401(k) Plan) during the Plan Year and must be employed by the Company or the Bank as of the last day of the Plan Year in order to receive this contribution, unless the Participant’s termination of employment is due to death, disability or involuntary termination without Cause).

(e)    Additional Discretionary Contributions.  The Company or the Bank may make additional employer discretionary contributions to any Participant under this Plan, without regard to linking such additional discretionary contributions to the 401(k) Plan.  The Board, in its sole discretion, may apply a vesting schedule to discretionary contributions. Appendix B sets forth details regarding any additional discretionary contributions.  Discretionary contributions need not be uniformly made to all Participants.

		
	2.2
	Base Salary Deferral Elections.  In addition to receiving the employer contributions described above, Participants may elect to defer receipt of all or any portion of their Base Salary for services performed for the Company or the Bank, subject to the deferral election timing rules set forth below.  There is no limit on the amount of Base Salary that a Participant may elect to defer under this Plan.

(a)    General Rule for Base Salary Deferral Elections.  Generally, before the beginning of each Plan Year, any Participant who wishes to defer receipt of any amount of Base Salary must elect the amount of Base Salary to be deferred under the Plan for the upcoming Plan Year by completing Part I on the 401(k) Restoration Plan Election Form provided by the Plan Administrator.  The deferral election shall expire at the end of that Plan Year (i.e., the deferral elections are not “evergreen” elections).  A new election must be made for each new Plan Year.  Deferral elections cannot be revoked or changed for a Plan Year once the Plan Year has begun.  

(b)    Special Rule for Initial Eligibility to Participate in the Plan.  Notwithstanding the preceding, within the first 30 days after a Participant is first eligible to participate in the Plan (and provided that the Participant is not participating in or eligible to participate in another elective deferral account balance plan maintained by the Company or the Bank with respect to such Base Salary), the Participant may elect to defer Base Salary that has not yet been earned in the current Plan Year by completing Part I on the 401(k) Restoration Plan Election Form provided by the Plan Administrator. The deferral election shall expire at the end of that Plan Year (i.e., the deferral elections are not “evergreen” elections).  A new election must be made for each new Plan Year.  Deferral elections cannot be revoked or changed for a Plan Year once the Plan Year has begun.  

		
	2.3
	Account Credits and Investments.

		
	(a)
	Crediting of Deferrals and Employer Contributions.

(1)    Deferrals.  The Administrator shall credit each Participant’s Account under this Plan with an amount equal to the Participant’s Base Salary deferrals as specified on such Participant’s 401(k) Restoration Plan Election Form, at the time that such amount would otherwise have been payable to the Participant.   

(2)    Employer Contributions.  No later than 60 days following the end of each Plan Year, the Administrator shall credit each Participant’s Account under this Plan with an amount equal to the aggregate employer contributions which are made to the Plan for the Participant for that Plan Year.

		
	(b)
	Investments.  Participants shall have the right to direct the investment of their Accounts hereunder by choosing from among those investment alternatives made available by the Administrator.  The Administrator shall credit each Participant’s Account hereunder with earnings or losses as reported to the Administrator by the trustee of the rabbi trust (if any) or as reported from an investment source.  If the Participant does not provide timely or proper investment directions, the Administrator shall select a default investment in the sole discretion of the Administrator.  

Notwithstanding anything in the Plan to the contrary, if any portion of a Participant’s Account is invested in Company common stock, then it shall remain invested in Company common stock and shall be distributed in Company common stock (even if the Plan or Participation Agreement otherwise states that distributions will be made in cash).  Any cash dividends paid on the Company common stock during the deferral period will be invested as per the direction of the Participant in the investment alternatives made available by the Administrator

SECTION III
BENEFIT PAYMENTS

		
	3.1
	Separation from Service.  If the Participant has a Separation from Service other than due to death or Disability, the Participant shall be paid the Participant’s Account, which shall continue to be credited with earnings until paid to the Participant.  Such amount shall be paid in a cash lump sum no later than 60 days after the Participant’s Separation from Service date, unless the Participant timely and properly elected annual installments on his or her 401(k) Restoration Plan Election Form (but shall be delayed until 6 months after Separation from Service if the Participant is a Specified Employee).  To the extent that any portion of the Participant’s Account is invested in Company common stock, it shall be paid in Company common stock, together with any cash dividends paid on the Company common stock during the deferral period as invested per the direction of the Participant in the investment alternatives made available by the Administrator.

Notwithstanding the foregoing, if a Participant is a Specified Employee and payment of his or her Account is triggered due to Separation from Service (other than due to Disability or death), then solely to the extent necessary to avoid penalties under Code Section 409A, no payment shall be made during the first six (6) months following the Participant’s Separation from Service.  Rather, any payment which would otherwise be paid to the Participant during such period shall be accumulated and paid to the Participant in a lump sum on the first day of the seventh month following such Separation from Service.  All subsequent payments of the Participant’s Account shall be paid in the manner specified in the Plan.  

		
	3.2
	Death Benefit.  If a Participant dies while employed at the Company or the Bank, Participant’s Beneficiary shall be entitled to payment of the Participant’s Account, which shall be paid as a cash lump sum, less applicable withholdings, no later than 60 days after the Participant’s date of death, unless the Participant elects annual installments on his  or her 401(k) Restoration Plan Election Form.  To the extent that any portion of the Participant’s Account is invested in Company common stock, it shall be paid in Company common stock, together with any cash dividends paid on the Company common stock during the deferral period as invested per the direction of the Participant in the investment alternatives made available by the Administrator. If a Participant dies following Separation from Service but prior to the receiving all payments under the Plan, the Participant’s Beneficiary shall be paid all remaining payments as a lump sum, less applicable withholdings, no later than 60 days after the Participant’s date of death. 

		
	3.3
	Disability Benefit.  If an Participant becomes Disabled while employed at the Company or the Bank, the Participant shall be entitled to receive payment of his or her entire Account, calculated at time of the Disability determination and paid in a cash lump sum, less applicable withholdings, no later than 60 days after the Participant’s date of Disability, unless the Participant elects annual installments on his or her 401(k) Restoration Plan Election Form. To the extent that any portion of the Participant’s Account is invested in Company common stock, it shall be paid in Company common stock, together with any cash dividends paid on 

the Company common stock during the deferral period as invested per the direction of the Participant in the investment alternatives made available by the Administrator.

		
	3.4
	Code Section 409A.  The Plan shall be interpreted to comply with or be exempt from Code Section 409A, and all provisions of the Plan shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A.  Each payment that is payable pursuant to this Plan is intended to constitute a “separate payment” for purposes of Treasury Regulation Section 1.409A-2(b)(ii).  

		
	3.5
	Cash Out of Small Amounts.  Notwithstanding anything in the Plan to the contrary, if the Participant’s Account balance is equal to or less than either (i) $50,000 or (ii) the Code Section 402(g) limit (i.e., $18,500 for 2015) as in effect for the Plan Year of the Participant’s Separation from Service, death or Disability, the Account shall be paid in a lump sum, regardless of whether the Participant has elected to receive installments.

ARTICLE IV 
ADMINISTRATION

		
	4.1
	Administrator’s Duties.  This Plan shall be administered by the Administrator.  The Administrator shall have the authority to make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Plan and decide or resolve any and all questions, including interpretations of this Plan, as may arise in connection with the Plan.  

		
	4.2
	Agents.  The Administrator may employ other agents (including Bank officers or employees) and delegate to them such administrative duties as it sees fit, and may consult with counsel who may be counsel to the Company or the Bank.

		
	4.3
	Binding Effect of Decisions.  The decision or action of the Administrator in respect to any question arising out of or in connection with the administration, interpretation and application of the Plan and the rules of regulations promulgated hereunder shall be final, conclusive and binding upon all persons having any interest in the Plan.

		
	4.4
	Indemnification.  The Bank and the Company shall indemnify and hold harmless all individuals acting as the Administrator against any and all claims, loss, damage, expense or liability arising from any action or failure to act with respect to this Plan, except in the case of gross negligence or willful misconduct.

ARTICLE V
CLAIMS PROCEDURE

		
	5.1
	Claim.  Any person claiming a benefit, requesting an interpretation or ruling under the Plan, or requesting information under the Plan shall present the request in writing to the Administrator, which shall respond in writing within 30 days.

		
	5.2
	Denial of Claim.  If the claim or request is denied, the written notice of denial shall state:

(a)    The reasons for denial, with specific reference to the Plan provisions on which the denial is based.
(b)    A description of any additional material or information required and an explanation of why it is necessary.
(c)    An explanation of the Plan’s claim review procedure.
		
	5.3
	Review of Claim.  Any person whose claim or request is denied, or who has not received a response within 30 days, may request review by notice given in writing to the Administrator.  The claim or request shall be reviewed by the Administrator who may, but shall not be required to, grant the claimant a hearing.  On review, the claimant may have representation, examine pertinent documents, and submit issues and comments in writing.

		
	5.4
	Final Decision.  The decision on review shall normally be made within 60 days.  If an extension of time is required for a hearing or other special circumstances, the claimant shall be notified and the time limit shall be 120 days.  The decision shall be in writing and shall state the reasons and the relevant Plan provisions. 

		
	5.5
	Arbitration. If a claimant continues to dispute the benefit denial based upon completed performance of this Plan and the 401(k) Restoration Plan Election Form or the meaning and effect of the terms and conditions thereof, then the claimant may submit the dispute to mediation, administered by the American Arbitration Association (“AAA”) (or a mediator selected by the parties) in accordance with the AAA’s Commercial Mediation Rules.  If mediation is not successful in resolving the dispute, it shall be settled by arbitration administered by the AAA under its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.

ARTICLE VI 
AMENDMENT AND TERMINATION OF PLAN

		
	6.1
	Amendment.  Notwithstanding anything in this Plan to the contrary, the Board reserves the exclusive right to freeze or to amend the Plan at any time, provided that no amendment to the Plan shall be effective to decrease or to restrict the amount accrued prior to the date of such amendment.  If the Plan is frozen or terminated other than under circumstances described in Section 6.2, benefits shall be paid to each Participant in the ordinary course, pursuant to the terms of the Plan and the Participant’s elections hereunder.

		
	6.2
	Complete Termination and Payment of Benefits.  Subject to the requirements of Code Section 409A, in the event of complete termination of the Plan, the Plan shall cease to operate and the Bank shall pay out to each Participant his or her entire Account as of the date of termination of the Plan.  Such complete termination of the Plan shall occur only under the following circumstances and conditions:

(a)    The Board may terminate the Plan within 12 months of a corporate dissolution taxed under Code Section 331, or with approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A), provided that the amounts deferred under the Plan are included in the Participant’s gross income in the latest of: (i) the Plan Year in which the Plan terminates; (ii) the Plan Year in which the amount is no longer subject to a substantial risk of forfeiture; or (iii) the first Plan Year in which the payment is administratively practicable.
(b)    The Board may terminate the Plan by irrevocable action within the 30 days preceding, or 12 months following, a Change in Control, provided that the Plan shall only be treated as terminated if all substantially similar arrangements sponsored by the Company and the Bank are terminated so that the Participant and all participants under substantially similar arrangements are required to receive all amounts of compensation deferred under the terminated arrangements within 12 months of the date of the irrevocable termination of the arrangements.  For these purposes, “Change in Control” shall be defined in accordance with the Treasury Regulations under Code Section 409A.
(c)    The Board may terminate the Plan provided that: (i) the termination and liquidation does not occur proximate to a downturn in the financial health of the Company or the Bank; (ii) all arrangements sponsored by the Company or the Bank that would be aggregated with this Plan under Treasury Regulations Section 1.409A-1(c) if the Participants covered by this Plan were also covered by any of those other arrangements are also terminated; (iii) no payments other than payments that would be payable under the terms of the arrangement if the termination had not occurred are made within 12 months of the termination of the arrangement; (iv) all payments are made within 24 months of the termination of the arrangements; and (v) the Company and the Bank do not adopt a new arrangement that would be aggregated with any terminated arrangement under Treasury Regulations Section 1.409A-1(c) if the Participants participated in both arrangements, at any time within three years following the date of termination of the arrangement.
ARTICLE VII
MISCELLANEOUS

		
	7.1
	Unfunded Plan.  This Plan is intended to be an unfunded plan maintained primarily to provide deferred compensation benefits for a select group of management or highly compensated employees.  This Plan is not intended to create an investment contract, but to provide tax planning opportunities and retirement benefits to eligible individuals who have elected to participate in the Plan.  Participants are select officers who, by virtue of their position with the Bank, are uniquely informed as to the Bank’s operations and have the ability to materially affect the Bank’s profitability and operations.

At no time shall any Participant be deemed to have any lien, right, title or interest in or to any specific investment or asset of the Company or the Bank. The rights of the Participants, any Beneficiary, or any other person claiming through the Participant under this Plan, shall be solely those of an unsecured general creditor of the Company and the Bank. The Participants, the Beneficiary, or any other person claiming through the Participant, shall only have the right to receive from the Company or the Bank those payments so specified 

under this Plan. Neither the Participants nor any Beneficiary under this Plan shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments, alimony or separate maintenance owed by the Participants or their Beneficiaries, nor be transferable by operation of law in the event of bankruptcy, insolvency or otherwise.

		
	7.2
	Unsecured Creditor.  The Participant’s interest in his or her Account is limited to the right to receive payments under the Plan, and the Participant’s position is that of a general unsecured creditor of the Company and the Bank.  Notwithstanding the foregoing, the Administrator, in its discretion, may elect to establish a fund containing assets equal to the amounts credited to the Participant’s Account, and may elect in its discretion to designate a trustee and/or custodian to hold the fund in trust, provided, however that the fund shall remain a general asset of the Company or the Bank, subject to the rights of creditors of the Company and the Bank.

		
	7.3
	Trust Fund.  The Company or the Bank shall be responsible for the payment of all benefits provided under the Plan.  At its discretion, the Company or the Bank may establish one or more rabbi trusts, with such trustees as the Board may approve, for the purpose of providing for the payment of such benefits.  Such rabbi trust or trusts may be irrevocable, but the assets thereof shall be subject to the claims of the Company’s or the Bank’s creditors.  To the extent any benefits provided under the Plan are actually paid from any such trust, the Company or the Bank shall have no further obligation with respect thereto, but to the extent not so paid, such benefits shall remain the obligation of, and shall be paid by, the Company or the Bank.

		
	7.4
	Payment to Participant, Legal Representative or Beneficiary.  Any payment to any Participant or the legal representative, Beneficiary, or to any guardian or committee appointed for such Participant or Beneficiary in accordance with the provisions hereof, shall, to the extent thereof, be in full satisfaction of all claims hereunder against the Company or the Bank, which may require the Participant, legal representative, Beneficiary, guardian or committee, as a condition precedent to such payment, to execute a receipt and release thereof in such form as shall be determined by the Company or the Bank.

		
	7.5
	Nonassignability.  Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, hypothecate or convey in advance of actual receipt the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are, expressly declared to be un-assignable and nontransferable.  No part of the amounts payable shall, prior to actual payment, be subject to seizure or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by an Participant or any other person, nor be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency.

		
	7.6
	Validity.  In case any provision of this Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be 

construed and enforced as if such illegal and invalid provision had never been inserted herein.

		
	7.7
	Notice.  Any notice or filing required or permitted to be given to the Administrator under the Plan shall be sufficient if in writing and hand delivered, or sent by registered or certified mail, to the Administrator.  Such notice shall be deemed given as of the date of receipt.

		
	7.8
	Successors.  The provisions of this Plan shall bind and inure to the benefit of the Company, the Bank, and their successors and assigns.  The term “successors” as used herein shall include any corporate or other business entity which shall, whether by merger, consolidation, purchase or otherwise acquire all or substantially all of the business and assets of the Company or the Bank, and successors of any such corporation or other business entity.

		
	7.9
	Payment of Employment and Code Section 409A Taxes.  Any distribution under this Plan shall be reduced by the amount of any taxes required to be withheld from such distribution.  This Plan shall permit the acceleration of the time or schedule of a payment to pay employment related taxes as permitted under Treasury Regulation Section 1.409A-3(j) or to pay any taxes that may become due at any time that the arrangement fails to meet the requirements of Code Section 409A and the regulations and other guidance promulgated thereunder.  In the latter case, such payments shall not exceed the amount required to be included in income as the result of the failure to comply with the requirements of Code Section 409A.

		
	7.10
	Acceleration of Payments.  Except as specifically permitted herein or in other sections of this Plan, no acceleration of the time or schedule of any payment may be made hereunder.  Notwithstanding the foregoing, payments may be accelerated hereunder by the Bank, in accordance with the provisions of Treasury Regulation Section 1.409A-3(j)(4) and any subsequent guidance issued by the United States Department of the Treasury.  Accordingly, payments may be accelerated, in accordance with requirements and conditions of the Treasury Regulations (or subsequent guidance) in the following circumstances: (i) as a result of certain domestic relations orders; (ii) in compliance with ethics agreements with the federal government; (iii) in compliance with ethics laws or conflicts of interest laws; (iv) in limited cash-outs (but not in excess of the limit under Code Section 402(g)(1)(B)); (v) to apply certain offsets in satisfaction of a debt of the Participant to the Bank; (vi) in satisfaction of certain bona fide disputes between the Participant and the Bank; or (vii) for any other purpose set forth in the Treasury Regulations and subsequent guidance.  

		
	7.11
	Required Provisions.  Any payments made to the Participant pursuant to this Plan or otherwise are subject to and conditioned upon compliance with 12 U.S.C. § 1828(k) and 12 C.F.R. Part 359 Golden Parachute and Indemnification Payments or any other rules and regulations promulgated thereunder. 

		
	7.12
	Governing Law.  The Plan is established under, and will be construed according to, the laws of the Commonwealth of Massachusetts, to the extent such laws are not preempted by the ERISA or the Code and regulations published thereunder.

SECTION VIII 
DEFINITIONS

Capitalized terms shall have the meaning set forth below:

		
	8.1
	“Account” means the amount of Base Salary deferrals and employer contributions credited to a Participant, including any gains or  losses thereon.

		
	8.2
	“Administrator” means the Compensation Committee of the Board.

		
	8.3
	“Bank” means Rockland Trust Company.

		
	8.4
	“Base Salary” means regularly scheduled salary, excluding bonuses and incentive compensation and any other compensation.

		
	8.5
	“Beneficiary” means the person or persons (and their heirs) designated as Beneficiary by a Participant to whom a deceased Participant’s benefits are payable. A Participant shall designate a Beneficiary by completing the form attached as Exhibit A and filing it with the Administrator.  If no Beneficiary is so designated, then the Participant’s surviving spouse will be deemed the Beneficiary and, if there is no surviving spouse, then the Participant’s estate will be deemed the Beneficiary. The Participant shall make an initial designation of primary and secondary Beneficiaries upon execution of his or her 401(k) Restoration Plan Election Form and shall have the right to change such designation, at any subsequent time, by submitting to the Administrator, in substantially the form attached as Exhibit A, a subsequent written designation of primary and secondary Beneficiaries. Any Beneficiary designation made subsequent to execution of the 401(k) Restoration Plan Election Form shall become effective only when receipt is acknowledged in writing by the Administrator.  Spousal consent is not required in order for a Participant to change his or her Beneficiary under this Plan.

		
	8.6
	“Board” means the Board of Directors of the Bank.

		
	8.7
	“Cause” shall refer to the Company’s termination of a Participant’s service with the Bank and/or Company because the Participant has (A) refused or failed, in any material respect, other than due to illness, injury or absence authorized by the Company or required by law, to devote full normal working time, skills, knowledge, and abilities to the business of the Company, its subsidiaries and affiliates, and in promotion of their respective interests; or (B) engaged in (1) activities involving personal profit as a result of the Participant’s dishonesty, incompetence, willful misconduct, willful violation of any law, rule or regulation or breach of fiduciary duty, or (2) dishonest activities involving the Participant’s relations with the Company, its subsidiaries and affiliates or any of their respective employees, customers or suppliers; or (C) committed larceny, embezzlement, conversion or any other act involving the misappropriation of Company or customer funds in the course of the 

Participant’s employment; or (D) been convicted of any crime which reasonable could affect in a materially adverse manner the reputation of the Company or the Participant’s ability to perform required duties; or (E) committed an act involving gross negligence on the part of the Participant in the conduct of required duties; or (F) evidenced a drug addiction or dependence; or (G) otherwise material breached the Participant’s employment agreement with the Company or the Bank. 

		
	8.8
	“Company” shall mean Independent Bank Corp.

		
	8.9
	“Code” means the Internal Revenue Code of 1986, as amended.

		
	8.10
	“Compensation” means “Compensation” as defined in the 401(k) Plan, plus cash annual incentive compensation paid during the Plan Year, but excluding bonuses. 

		
	8.11
	“Deferral Percentage” means a fixed percentage of a Participant’s Base Salary that will be contributed to the Participant’s Account for a particular Plan Year.  The Deferral Percentage shall be set forth in the Participant’s 401(k) Restoration Plan Election Form.

		
	8.12
	“Disability” means the first to occur of the following, where the Participant is (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, or (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under the disability insurance, if any, covering employees of the Company, or (iii) determined to be totally disabled by the Social Security Administration.

		
	8.13
	“ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

		
	8.14
	“401(k) Plan” means  the Rockland Trust Company Employee Savings, Profit Sharing and Stock Ownership Plan, Amended and Restated January 1, 2010, and any successor thereto.

		
	8.15
	“401(k) Restoration Plan Election Form” means the agreement between a Participant and the Company or the Bank which sets forth the particulars of Participant’s benefits under the Plan.

		
	8.16
	“Participant” means an officer of the Bank and/or the Company who has been selected by the Administrator to participate in this Plan.

		
	8.17
	“Plan” means  this Rockland Trust Company Amended and Restated 401(k) Restoration Plan.

		
	8.18
	“Plan Year” means the Plan’s accounting year of twelve (12) months commencing on January 1st of each year and ending on the following December 31st.

		
	8.19
	“Separation from Service” means Participant’s death, retirement or other termination of employment with the Company or the Bank within the meaning of Code Section 409A.  No Separation from Service shall be deemed to occur due to military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six months or, if longer, so long as Participant’s right to reemployment is provided by law or contract.  If the leave exceeds six months and Participant’s right to reemployment is not provided by law or by contract, then Participant shall have a Separation from Service on the first date immediately following such six-month period.

Whether a Separation from Service has occurred is determined based on whether the facts and circumstances indicate that the employer and employee reasonably anticipated that no further services would be performed after a certain date or that the level of bona fide services the employee would perform after such date (whether as an employee or as an independent contractor) would permanently decrease to less than 50% of the average level of bona fide services performed over the immediately preceding 36 months (or such lesser period of time in which the Participant performed services for the Company or the Bank).  The determination of whether the Participant has had a Separation from Service shall be made by applying the presumptions set forth in the Treasury Regulations under Code Section 409A.

		
	8.20
	“Specified Employee” means a “Key Employee” as such term is defined in Code Section 416(i) without regard to paragraph 5 thereof.  Notwithstanding anything to the contrary herein, in the event a Participant is a Specified Employee and becomes entitled to a payment hereunder due to Separation from Service for any reason (other than death or Disability), the payments to the Participant shall not commence until the first day of the seventh month following such Separation from Service.  Whether and the extent to which a person is a Specified Employee shall be determined on the “Specified Employee Determination Date” which shall be December 31 of each Plan Year and shall be applicable commencing on the following April 1, in accordance with the rules set forth in the Treasury Regulations under Code Section 409A.  

IN WITNESS WHEREOF, the Bank has executed this Plan on the date set forth below, effective as of January 1, 2015.

ROCKLAND TRUST COMPANY

By:     /s/Raymond G. Fuerschbach                     April 16, 2015            
       Raymond G. Fuerschbach            Date
       Senior Vice President
       Its duly authorized representative           

ROCKLAND TRUST COMPANY
AMENDED AND RESTATED
401(k) RESTORATION PLAN

Appendix A – List of Participants

	
		
	Name of Participant
	Date of Participation

	Christopher Oddleifson
	January 1, 2015

	Denis K. Sheahan
	January 1, 2015

	Gerard F. Nadeau
	January 1, 2015

	Jane L. Lundquist
	January 1, 2015

	Edward H. Seksay
	January 1, 2015

	Edward F. Jankowski
	January 1, 2015

	Raymond G. Fuerschbach
	January 1, 2015

	Robert D. Cozzone
	January 1, 2015

	Barry H. Jensen
	January 1, 2015

ROCKLAND TRUST COMPANY
AMENDED AND RESTATED
401(k) RESTORATION PLAN

Appendix B – Additional Employer Discretionary Contributions

Additional employer discretionary contributions shall be made to the following Participants, subject to the vesting schedule indicated below:

	
				
	Name of Participant
	Initial Eligibility for Contributions
	Amount of Contribution
	Vesting Schedule

	Robert D. Cozzone
	January 1, 2015
	A one-time $32,698.47 contribution and an annual contribution of 5% of Compensation for each year beginning in 2015 he is a participant
	Immediate

	Barry H. Jensen
	January 1, 2015
	A one-time $23,715.39 contribution and an annual contribution of 5% of Compensation for each year beginning in 2015 he is a participant
	Immediate

ROCKLAND TRUST COMPANY
AMENDED AND RESTATED
401(k) RESTORATION PLAN

401(k) Restoration Plan Election Form

Participant’s Name (please print): _______________________________________________________

PART I:    DEFERRAL OF BASE SALARY

As a Participant in the Rockland Trust Company Amended and Restated 401(k) Restoration Plan, I wish to defer receipt all or a portion of one year’s worth of the Base Salary that I may earn from the Company and/or the Bank in excess of the annual IRS limitations that apply to the Rockland Trust Company Employee Savings, Profit Sharing and Stock Ownership Plan (the “401(k) Plan”).  This 401(k) Restoration Plan Election Form shall expire at the end of the Plan Year in which I sign this Form (i.e., the deferral elections are not “evergreen” elections).  I understand that I must complete a new 401(k) Restoration Plan Election Form for each year that I may earn Base Salary that I wish to defer. 

I understand that I may elect to defer receipt of my annual cash incentive compensation under the Independent Bank Corp. and Rockland Trust Company Non-Qualified Deferred Compensation Plan (which is a separate non-qualified deferred compensation plan), even though my annual cash incentive compensation will be included in the definition of “Compensation” for purposes of calculating my benefits under this Plan.  Thus, I understand that my deferral election below only applies to my Base Salary.

I hereby make an irrevocable election as indicated below:

_____ I elect to defer all of my Base Salary in excess of the amount permitted to be deferred under the Bank’s 401(k) Plan.

_____ I elect to defer _____% of my Base Salary in excess of the amount permitted to be deferred under the Bank’s 401(k) Plan.

_____ I elect to defer $___________ of my Base Salary in excess of the amount permitted to be deferred under the Bank’s 401(k) Plan.

_____ I do not wish to defer any of my Base Salary under this Plan.

PART II:    FORM OF PAYMENT

I understand that my Account shall be paid as a lump sum unless I elect annual installments below.

Separation from Service.  At the time of my Separation from Service (other than due to Death or Disability), I shall be entitled payment of my Account, calculated in accordance with all relevant provisions of the Plan, and paid as a lump sum (unless I elect annual installments below), less applicable withholdings, within 60 days after my Separation from Service, unless I am subject to a 6 month delay as a “Specified 

Employee” (as defined in the Plan).  To the extent that any portion of my Account is invested in Company stock, it shall be paid in Company stock, together with any cash dividends paid on the Company stock during the deferral period, as have been invested pursuant to my investment directions,

Death Benefit.  In the event of my death prior to Separation from Service, my Beneficiary shall be entitled to my entire Account, calculated in accordance with the Plan and payable in a lump sum (unless I elect annual installments below), less applicable withholdings, within 60 days after the date of my death. To the extent that any portion of my Account is invested in Company stock, it shall be paid in Company stock, together with any cash dividends paid on the Company stock during the deferral period, as have been invested pursuant to my investment directions,

Disability While Employed.  I understand that in the event of my Disability, I will be entitled to payment of my entire Account calculated as set forth in the Plan.  My Account will be paid in a lump sum, (unless I elect annual installments below), less applicable withholdings, within 60 days after the date of my Disability determination under the Plan. To the extent that any portion of my Account is invested in Company stock, it shall be paid in Company stock, together with any cash dividends paid on the Company stock during the deferral period, as have been invested pursuant to my investment directions,

Installments Instead of Lump Sum.  I understand that my Account will be paid in a lump sum payment due to the occurrence of a distribution triggering event described above, unless I elect otherwise by checking the box below.

		
	•
	In lieu of a lump sum payment, I elect Annual Installments for _____Years (insert 5, 10, 15, 20 or 25 years). Installments shall begin no later than 60 days after the distribution triggering event.

This 401(k) Restoration Plan Election Form shall become effective upon execution below by me as the Participant and by a duly authorized officer of the Company.

PARTICIPANT

__________________________                                     
Date            
 

Receipt of 401(k) Restoration Plan Election Form by Company.

I certify that the foregoing 401(k) Restoration Plan Election Form was received by me:

_______________________                _____________________________________
Date                            Name and Title

ROCKLAND TRUST COMPANY
AMENDED AND RESTATED
401(k) RESTORATION PLAN

Designation of Beneficiary or Beneficiaries

If I die before all of my Account has been distributed to me, I designate the following person(s) to receive the remainder of my Account. I understand that if I die before all of my Account has been distributed to me without having designated a beneficiary or beneficiaries, the balance of my Account will be distributed to my estate in a lump sum as soon as possible following my death.  If a beneficiary dies before the entire Account has been distributed, the balance of the Account will be paid in a lump sum to the estate of the beneficiary.  If I die and I named more than one beneficiary and a beneficiary later dies, the appropriate portion of the remaining Account will be paid in a lump sum to the estate of the deceased beneficiary.

Single Beneficiary:
Name of address of Beneficiary:            
                        
                        
                        
Phone:                         
SSN:                         

Multiple Beneficiaries:
(NOTE:  If no percentages are assigned to the beneficiaries, the beneficiaries will share equally.
  If the percentage total does not equal 100 percent, any remaining percentage will be divided equally.)

Name of address of Beneficiary:            Name of address of Beneficiary:
                                        
                                        
                                        
Phone:                         Phone:                 
SSN:                         SSN:                 
Percentage:         %            Percentage:         %

Name of address of Beneficiary:            Name of address of Beneficiary:
                                        
                                        
                                        
Phone:                         Phone:                 
SSN:                         SSN:                 
Percentage:         %            Percentage:         %

Name of address of Beneficiary:            Name of address of Beneficiary:
                                        
                                        
                                        
Phone:                         Phone:                 
SSN:                         SSN:                 
Percentage:         %            Percentage:         %

Name of address of Beneficiary:            Name of address of Beneficiary:
                                        
                                        
                                        

Phone:                         Phone:                 
SSN:                         SSN:                 
Percentage:         %            Percentage:         %

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