Document:

Form of Severance Protection Agreement

 Exhibit 10.19 
 SEVERANCE PROTECTION AGREEMENT 
 SEVERANCE PROTECTION AGREEMENT dated
                    , 20         by and between SAIC, Inc., a Delaware corporation (the
“Company”), and                      (the “Executive”). 
 PURPOSE 
 The Board of Directors of the Company (the “Board”)
recognizes that the possibility of a Change in Control (as hereinafter defined) of the Company exists and that the threat or occurrence of a Change in Control may result in the distraction of its key management personnel because of the uncertainties
inherent in such a situation. 
 The Board has determined that it is essential and in the best interests of the Company and its
stockholders to retain the services of the Executive in the event of the threat or occurrence of a Change in Control and to ensure the Executive’s continued dedication and efforts in such event without undue concern for the Executive’s
personal financial and employment security. 
 In order to induce the Executive to remain in the employ of the Company,
particularly in the event of the threat or occurrence of a Change in Control, the Company desires to enter into this Agreement to provide the Executive with certain benefits in the event the Executive’s employment is terminated as a result of,
or in connection with, a Change in Control. 
 NOW, THEREFORE, in consideration of the respective agreements of the parties
contained herein, it is agreed as follows: 
 SECTION 1.     Definitions.  

For purposes of this Agreement, the following terms have the meanings set forth below: 

“Accrued Compensation” means an amount which includes all amounts earned or accrued by the Executive through and
including the Termination Date but not paid to the Executive on or prior to such date, including (a) all base salary, (b) reimbursement for all reasonable and necessary expenses incurred by the Executive on behalf of the Company during the
period ending on the Termination Date, (c) all vacation pay and (d) all bonuses and incentive compensation (other than the Pro Rata Bonus). 
 “Base Salary Amount” means the greater of the Executive’s annual base salary (a) at the rate in effect on the Termination Date and (b) at the highest rate in effect
at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or non-qualified employee benefit plan of the Company or any other agreement
or arrangement. 
 “Beneficial Owner” has the meaning as used in Rule 13d-3 promulgated under the
Securities Exchange Act. The terms “Beneficially Owned” and “Beneficial Ownership” each have a correlative meaning. 

 “Board” means the Board of Directors of the Company. 

“Bonus Amount” means the annual target bonus established and payable to the Executive pursuant to any annual
bonus or incentive plan maintained by the Company in respect of the fiscal year ending during the fiscal year in which the Termination Date occurs (or actual annual bonus paid or payable in respect of the most recently completed fiscal year if the
Termination Date occurs prior to the establishment of an annual target bonus for the fiscal year in which the Termination Date occurs). Bonus Amount includes only the short-term incentive portion of the annual bonus and does not include restricted
stock awards, options or other long-term incentive compensation awarded to the Executive. 
 “Cause” for
the termination of the Executive’s employment with the Company will be deemed to exist if (a) the Executive has been convicted for committing an act of fraud, embezzlement, theft or other act constituting a felony (other than traffic
related offenses or as a result of vicarious liability), (b) the Executive willfully engages in illegal conduct or gross misconduct that is significantly injurious to the Company; however, no act or failure to act, on the Executive’s part
shall be considered “willful” unless done or omitted to be done, by the Executive not in good faith and without reasonable belief that his or her action or omission was in the best interest of the Company or (c) failure to perform his
or her duties in a reasonably satisfactory manner after the receipt of a notice from the Company detailing such failure if the failure is incapable of cure, and if the failure is capable of cure, upon the failure to cure such failure within 30 days
of such notice or upon its recurrence. 
 “Change in Control” of the Company means, and shall be deemed
to have occurred upon, any of the following events: 
 (a) The acquisition by any Person of Beneficial Ownership of twenty-five
percent (25%) or more of the outstanding voting power; provided, however, that the following acquisitions shall not constitute a Change in Control for purposes of this subparagraph (a): (A) any acquisition directly from the Company;
(B) any acquisition by the Company or any of its Subsidiaries; (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its Subsidiaries; or (D) any acquisition by any
corporation pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subparagraph (c) below; or 
 (b) Individuals who at the beginning of any two year period constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however,
that any individual who becomes a director of the Company during such two year period and whose election, or whose nomination for election by the Company’s stockholders, to the Board was either (i) approved by a vote of at least a majority
of the directors then comprising the Incumbent Board or (ii) recommended by a nominating committee comprised entirely of directors who are then Incumbent Board members shall be considered as though such individual were a member of the Incumbent
Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the
Securities Exchange Act), other actual or threatened solicitation of proxies or consents or an actual or threatened tender offer; or 

  
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 (c) Consummation of a reorganization, merger, or consolidation or sale or other disposition
of all or substantially all of the assets of the Company (a “Business Combination”), in each case unless following such Business Combination, (i) all or substantially all of the Persons who were the Beneficial Owners, respectively, of
the outstanding shares and outstanding voting securities immediately prior to such Business Combination own, directly or indirectly, more than fifty percent (50%) of the combined voting power of the then outstanding voting securities entitled
to vote generally in the election of directors of the Company, as the case may be, of the entity resulting from the Business Combination (including, without limitation, an entity which as a result of such transaction owns the Company or all or
substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the outstanding voting securities
(provided, however, that for purposes of this clause (i) any shares of common stock or voting securities of such resulting entity received by such Beneficial Owners in such Business Combination other than as the result of such Beneficial
Owners’ ownership of outstanding shares or outstanding voting securities immediately prior to such Business Combination shall not be considered to be owned by such Beneficial Owners for the purposes of calculating their percentage of ownership
of the outstanding common stock and voting power of the resulting entity); (ii) no Person (excluding any entity resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such entity resulting
from the Business Combination) beneficially owns, directly or indirectly, twenty-five percent (25%) or more of the combined voting power of the then outstanding voting securities of such entity resulting from the Business Combination unless
such Person owned twenty-five percent (25%) or more of the outstanding shares or outstanding voting securities immediately prior to the Business Combination; and (iii) at least a majority of the members of the Board of the entity resulting
from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or the action of the Board, providing for such Business Combination; or 

(d) Approval by the Company’s stockholders of a complete liquidation or dissolution of the Company. 

For purposes of clause (c), any Person who acquires outstanding voting securities of the entity resulting from the Business Combination
by virtue of ownership, prior to such Business Combination, of outstanding voting securities of both the Company and the entity or entities with which the Company is combined shall be treated as two Persons after the Business Combination, who shall
be treated as owning outstanding voting securities of the entity resulting from the Business Combination by virtue of ownership, prior to such Business Combination of, respectively, outstanding voting securities of the Company, and of the entity or
entities with which the Company is combined. 
 “Code” means the Internal Revenue Code of 1986, as
amended. 
 “Company” means SAIC, Inc., a Delaware corporation, provided that in recognition of the fact
that the Executive may be employed by Science Applications International Corporation, a Delaware corporation and wholly-owned subsidiary of the Company (“SAIC”), or by another direct or indirect Subsidiary of SAIC, Inc., the term
“Company” when referring to the employment relationship and the compensation or benefits related thereto shall include the employer of Executive as the context requires. 

  
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 “Continuation Period” has the meaning set forth in
Section 3.1(b)(iii). 
 “Disability” means the status of disability determined conclusively by the
Company based upon certification of disability by the Social Security Administration or upon such other proof as the Company may reasonably require, effective upon receipt of such certification or other proof by the Company. 

“Full Release” means a written release, timely executed so that it is fully effective as of the date of payment
pursuant to Section 3.1(c), in a form satisfactory to the Company (and similar to the Agreement set forth in Exhibit A) pursuant to which the Executive fully and completely releases the Company from all claims that the Executive may
have against the Company (other than any claims that may or have arisen under this Agreement). 
 “Good
Reason” means the occurrence of any of the events or conditions described in clauses (a) through (g) hereof, without the Executive’s prior written consent: 

(a)(i) any material adverse change in the Executive’s authority, duties or responsibilities (including reporting responsibilities)
from the Executive’s authority, duties or responsibilities as in effect at any time within 180 days preceding the date of the Change in Control or at any time thereafter, or (ii) in the case of an Executive who is an executive officer of
the Company a significant portion of whose responsibilities relate to the Company’s status as a public company, the failure of such Executive to continue to serve as an executive officer of a public company, in each case except in connection
with the termination of the Executive’s employment for Disability, Cause, as a result of the Executive’s death or by the Executive other than for Good Reason; 
 (b) a material reduction in Executive’s base salary or any failure to pay the Executive any cash compensation to which the Executive is entitled within 15 days after the date when due; 

(c) the imposition of a requirement that the Executive be based (i) at any place outside a 50-mile radius from the Executive’s
principal place of employment immediately prior to the Change in Control or (ii) at any location other than the Company’s corporate headquarters or, if applicable, the headquarters of the business unit by which he or she was employed
immediately prior to the Change in Control, except, in each case, for reasonably required travel on Company business which is not materially greater in frequency or duration than prior to the Change in Control; 

(d) any material breach by the Company of any provision of this Agreement; 

(e) any purported termination of the Executive’s employment for Cause by the Company which does not comply with the terms of this
Agreement; or 
 (f) the failure of the Company to obtain, as contemplated in Section 7, an agreement, reasonably
satisfactory to the Executive, from any Successor to assume and agree to perform this Agreement. 

  
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 Notwithstanding anything to the contrary in this Agreement, no termination will be deemed to
be for Good Reason hereunder unless (i) the Executive provides written notice to the Company identifying the applicable event or condition within 90 days of the occurrence of the event or the initial existence of the condition, and
(ii) the Company fails to remedy the event or condition within a period of 30 days following such notice. 

“Notice of Termination” means a written notice from the Company or the Executive of the termination of the
Executive’s employment which indicates the specific termination provision in this Agreement relied upon and which sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s
employment under the provision so indicated. 
 “Person” has the meaning as defined in
Section 3(a)(9) of the Securities Exchange Act and used in Section 13(d) or 14(d) of the Securities Exchange Act, and will include any “group” as such term is used in such sections. 

“Pro Rata Bonus” means an amount equal to the Bonus Amount multiplied by a fraction, the numerator of which is
the number of days elapsed in the then fiscal year through and including the Termination Date and the denominator of which is 365. 
 “Securities Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Subsidiary” means any corporation with respect to which another specified corporation has the power under ordinary circumstances to vote or direct the voting of sufficient
securities to elect a majority of the directors. 
 “Successor” means a corporation or other entity
acquiring all or substantially all the assets and business of the Company, whether by operation of law, by assignment or otherwise. 
 “Termination Date” means (a) in the case of the Executive’s death, the Executive’s date of death, (b) in the case of the termination of the Executive’s
employment with the Company by the Executive for Good Reason, the date the Company’s 30-day cure period expires, and (c) in all other cases, the date specified in the Notice of Termination; provided that if the Executive’s employment
is terminated by the Company for Cause or due to Disability, the date specified in the Notice of Termination will be at least 30 days after the date the Notice of Termination is given to the Executive. Notwithstanding anything to the contrary
herein, to the extent necessary to comply with Code Section 409A, an Executive’s employment shall not be considered to have terminated unless the executive has experienced a “separation from service,” as defined in Code
Section 409A and the regulations thereunder. 
 SECTION 2.     Term of Agreement.

 The term of this Agreement (the “Term”) will commence on the date of this Agreement, and will continue in effect
until December 31, 2012; provided that on December 31, 2012 and each anniversary of such date thereafter, the Term shall automatically be extended for one additional year unless, not later than October 1 of such year, the Company or
the Executive shall have given notice not to extend the Term; and further provided that in the event a Change in Control occurs during the Term, the Term will be extended to the date 24 months after the date of the occurrence of such Change in
Control. 

  
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 Notwithstanding the foregoing and subject to Section 3.2, the Term shall be deemed to
have immediately expired without any further action and this Agreement will immediately terminate and be of no further effect if any of the following events occurs prior to a Change in Control: 

(a) the Executive’s employment with the Company is terminated (whether by the Company or the Executive) for any reason; 

(b) the Executive’s employment is not terminated but there is a reduction in his or her status, position or responsibilities
(including reporting responsibilities) from that which applied to Executive on the date of this Agreement; or 
 (c) the
Executive reaches the mandatory retirement age applicable to the Company’s executive officers under any stated policy of the Company, as may be adopted and revised from time to time by the Board. 

SECTION 3.     Termination of Employment. 

3.1 If, during the Term, the Executive’s employment with the Company is terminated within 24 months following a Change in Control,
the Executive will be entitled to the following compensation and benefits: 
 (a) If the Executive’s employment with the
Company is terminated (i) by the Company for Cause or Disability, (ii) by reason of the Executive’s death or (iii) by the Executive other than for Good Reason, the Company will pay to the Executive the Accrued Compensation and,
if such termination is by the Company for Disability or by reason of the Executive’s death, a Pro Rata Bonus. 
 (b) If the
Executive’s employment with the Company is terminated (whether by the Company or the Executive) for any reason other than as specified in Section 3.1(a), the Executive will be entitled to the following: 

(i) the Company will pay the Executive all Accrued Compensation and a Pro Rata Bonus; 

(ii) subject to the Executive providing the Company with a Full Release, the Company will pay the Executive as
severance pay, and in lieu of any further compensation for periods subsequent to the Termination Date, in a single payment an amount in cash equal to two and one-half (2 1/2) times the sum of (A) the Base Salary Amount and
(B) the Bonus Amount; 

  
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 (iii) subject to the Executive providing the Company with a Full Release and complying with
his or her obligations under Section 6, the Company will, for a period of 30 months (the “Continuation Period”), at its expense provide to the Executive and the Executive’s dependents and beneficiaries the same or equivalent life
insurance, disability, medical, dental, and hospitalization benefits (the “Continuation Period Benefits”) provided to other similarly situated executives who continue in the employ of the Company during the Continuation Period
(“similarly situated executives”). The obligations of the Company to provide the Executive and the Executive’s dependents and beneficiaries with the Continuation Period Benefits shall not restrict or limit the Company’s right to
terminate or modify the benefits made available by the Company to its similarly situated executives or other employees and following any such termination or modification, the Continuation Period Benefits that Executive (and the Executive’s
dependents and beneficiaries) shall be entitled to receive shall be so terminated or modified. The Company’s obligation hereunder with respect to the foregoing benefits will be limited to the extent that the Executive becomes eligible to obtain
any such benefits pursuant to a subsequent employer’s benefit plans, in which case the Company may reduce the coverage of any benefits it is required to provide the Executive hereunder as long as the coverages and benefits of the combined
benefit plans are no less favorable to the Executive than the coverages and benefits required to be provided hereunder. This Section 3.1(b)(iii) will not be interpreted so as to limit any benefits to which the Executive or the Executive’s
dependents or beneficiaries may be entitled under any of the Company’s employee benefit plans, programs or practices following the Executive’s termination of employment; 

(iv) the Company shall provide the Executive with outplacement services suitable to the Executive’s position for a period of 12
months or, if earlier, until the first acceptance by the Executive of an offer of employment; and 
 (v) such other
acceleration of vesting and other benefits provided in other Company plans or agreements regarding options to purchase Company stock, restricted stock, deferral of stock or other equity compensation awards granted to or otherwise applicable to
Executive. 
 The benefits set forth in subsections (iii) and (iv), above, shall be subject to the following conditions and
restrictions: (1) the payment or provision of a benefit in any particular year shall not (except as may be provided in the medical, dental and hospitalization plans in which the Executive participates) affect the benefits to be provided in any
other year, (2) to the extent the Executive is entitled to reimbursement of any expenses, the reimbursement shall be made no later than the Executive’s taxable year following the taxable year in which the expense was incurred, and
(3) no right to reimbursement or in-kind benefits may be subject to liquidation or exchange for any other benefit. 
 (c)
The amounts provided for in Section 3.1(a) and Sections 3.1(b)(i) and (ii) will be paid in a single lump sum cash payment by the Company to the Executive within fifteen days after the Termination Date. 

(d) The Executive will not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment
or otherwise, and no such payment will be offset or reduced by the amount of any compensation or benefits provided to the Executive in any subsequent employment, except as specifically provided in Section 3.1(b)(iii) and 3.1(b)(iv). 

  
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 3.2 Notwithstanding anything in this Agreement to the contrary, if, within the 30 days
immediately preceding a Change in Control, (i) the Executive’s employment is terminated (whether by the Company or the Executive) for any reason other than as specified in Section 3.1(a), or (ii) (A) there is a material
adverse change in the Executive’s status, position or responsibilities (including reporting responsibilities) from that which applied to Executive on the date of this Agreement, and (B) the Executive’s employment with the Company is
subsequently terminated within 24 months following a Change in Control (whether by the Company or the Executive) for any reason other than as specified in Section 3.1(a), the Executive shall be entitled to receive the benefits provided in
Section 3.1(b), provided that the amounts provided for in Sections 3.1(b)(i) and (ii) will be paid in a single lump sum cash payment by the Company to the Executive within fifteen days after the later of the Termination Date or the Change
in Control. 
 3.3 Except as otherwise noted herein, the compensation to be paid to the Executive pursuant to Sections 3.1(a),
3.1(b)(i) and 3.1(b)(ii) of this Agreement (whether by reason of Section 3.1(c) or Section 3.2) will be in lieu of any similar severance or termination compensation (i.e., compensation based directly on the Executive’s annual salary
or annual salary and bonus) to which the Executive may be entitled under any other Company severance or termination agreement, plan, program, policy, practice or arrangement. With respect to any other compensation and benefit to be paid or provided
to the Executive pursuant to this Section 3, the Executive will have the right to receive such compensation or benefit as herein provided or, if determined by the Executive to be more advantageous to the Executive, similar compensation or
benefits to which the Executive may be entitled under any other Company severance or termination agreement, plan, program, policy, practice or arrangement. The Executive’s entitlement to any compensation or benefits of a type not provided in
this Agreement will be determined in accordance with the Company’s employee benefit plans and other applicable programs, policies and practices as in effect from time to time. 
 SECTION 4.     Notice of Termination. Following a Change in Control, any purported termination of the Executive’s employment by the Company will be
communicated by a Notice of Termination to the Executive. For purposes of this Agreement, no such purported termination will be effective without such Notice of Termination. 
 SECTION 5.     Excise Tax Adjustments. 
 5.1 In the event Executive becomes entitled to receive the benefits provided pursuant to Sections 3.1(b) or 3.2 herein, and the Company determines that such benefits (the “Total Payments”) will
be subject to the tax (the “Excise Tax”) imposed by Section 4999 of the Code, or any similar tax that may hereafter be imposed, the Company shall compute the “Net After-Tax Amount,” and the “Reduced Amount,” and
shall adjust the Total Payments as described below. The Net After-Tax Amount shall mean the present value of all amounts payable to the Executive hereunder, net of all federal income, excise and employment taxes imposed on the Executive by reason of
such payments. The Reduced Amount shall mean the largest aggregate amount of the Total Payments that if paid to the Executive would result in the Executive receiving a Net After-Tax Amount that is equal to or greater than the Net After-Tax Amount
that the Executive would have received if the Total Payments had been made. If the Company determines that there is a Reduced Amount, the Total Payments will be reduced to the Reduced Amount. Such reduction to the Total Payments shall be made by
first reducing or eliminating any cash severance benefits, then by reducing or eliminating any accelerated vesting of stock options, then by reducing or eliminating any accelerated vesting of other equity awards, then by reducing or eliminating any
other remaining Total Payments, in each case in reverse order beginning with the payments which are to be paid the farthest in time from the date of the transaction triggering the Excise Tax. 

  
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 5.2 For purposes of determining whether the Total Payments will be subject to the Excise Tax
and the amounts of such Excise Tax and for purposes of determining the Reduced Amount and the Net After-Tax Amount: 
 (a) Any
other payments or benefits received or to be received by the Executive in connection with a Change in Control of the Company or the Executive’s termination of employment (whether pursuant to the terms of this Agreement or any other plan,
arrangement, or agreement with the Company, or with any individual, entity, or group of individuals or entities (individually and collectively referred to in this subsection (a) as “Persons”) whose actions result in a change in
control of the Company or any Person affiliated with the Company or such Persons) shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code, and all “excess parachute payments” within the
meaning of Section 280G(b)(1) of the Code shall be treated as subject to the Excise Tax, unless in the opinion of a tax advisor selected by the Company and reasonably acceptable to the Executive (“Tax Counsel”), such other payments or
benefits (in whole or in part) should be treated by the courts as representing reasonable compensation for services actually rendered (within the meaning of Section 280G(b)(4)(B) of the Code), or otherwise not subject to the Excise Tax;

 (b) The amount of the Total Payments that shall be treated as subject to the Excise Tax shall be equal to the lesser of
(i) the total amount of the Total Payments; or (ii) the amount of excess parachute payments within the meaning of Section 280G(b)(1) of the Code (after applying clause (a) above); 

(c) In the event that the Executive disputes any calculation or determination made by the Company, the matter shall be determined by Tax
Counsel, the fees and expenses of which shall be borne solely by the Company; and 
 (d) The Executive shall be deemed to pay
federal income taxes at the highest marginal rate of federal income taxation in the calendar year in which the Change in Control of the Company occurs, and state and local income taxes at the highest marginal rate of taxation in the state and
locality of the Executive’s residence on the effective date of the Change in Control of the Company, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes, taking into account
the reduction in itemized deduction under Section 68 of the Code. 

  
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 SECTION 6.     Covenants of the Executive. During the Continuation
Period following any Change in Control pursuant to which the Executive receives the benefits pursuant to Section 3.1(b)(iii), the Executive covenants and agrees as follows: 

(a) the Executive agrees to comply with his or her obligations under the Inventions, Copyright and Confidentiality Agreement that he or
she entered into with the Company; and 
 (b) the Executive acknowledges that the Executive has knowledge of confidential and
proprietary information concerning the current salary, benefits, skills, and capabilities of Company employees and that it would be improper for the Executive to use such Company proprietary information in any manner adverse to the Company’s
interests. The Executive agrees that he or she will not recruit or solicit for employment, directly or indirectly, any employee of the Company during the Continuation Period. 
 SECTION 7.     Successors; Binding Agreement. 
 This Agreement will be binding upon and will inure to the benefit of the Company and its Successors, and the Company will require any Successors to expressly assume and agree to perform this Agreement in
the same manner and to the same extent that the Company would be required to perform it if no such succession or assignment had taken place. Neither this Agreement nor any right or interest hereunder will be assignable or transferable by the
Executive or by the Executive’s beneficiaries or legal representatives, except by will or by the laws of descent and distribution. This Agreement will inure to the benefit of and be enforceable by the Executive’s legal representatives.

 SECTION 8.     Fees and Expenses. 

The Company will pay as they become due all legal fees and related expenses (including the costs of experts) incurred by the Executive, in
good faith, in (a) contesting or disputing, any such termination of employment and (b) seeking to obtain or enforce any right or benefit provided by this Agreement or by any other plan or arrangement maintained by the Company under which
the Executive is or may be entitled to receive benefits. If the dispute is resolved by a final decision of an arbitrator pursuant to Section 15 in the favor of the Company, the Executive shall reimburse the Company for all such legal fees and
related expenses (including costs of experts) paid by the Company on behalf of the Executive. To the extent necessary to comply with Code Section 409A, any reimbursements pursuant to this Section 8 shall be paid to the Executive on or
before the last day of the Executive’s taxable year following the taxable year in which the related expense was incurred. Such reimbursements are not subject to liquidation or exchange for another benefit and the amount of such benefits and
reimbursements that the Executive receives in one taxable year shall not affect the amount of such benefits or reimbursements that the Executive receives in any other taxable year. 
 SECTION 9.     Notice. 
 For the
purposes of this Agreement, notices and all other communications provided for in the Agreement (including the Notice of Termination) will be in writing and will be deemed to have been duly given (i) when personally delivered, (ii) upon
acknowledgment of receipt when sent by e-mail or other electronic transmission (excluding acknowledgements generated automatically without an affirmative act by the recipient), or (iii) when sent by certified mail, return receipt requested,
postage prepaid, addressed to the respective addresses last given by each party to the other, provided that all notices to the Company will be directed to the attention of the Board with a copy to the Secretary of the Company. All notices and
communications will be deemed to have been received on the date of delivery thereof or on the third business day after the mailing thereof, except that notice of change of address will be effective only upon receipt. 

  
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 SECTION 10.     Dispute Concerning Termination. 

If prior to the Date of Termination (as determined without regard to this Section 10), the party receiving the Notice of Termination
notifies the other party that a dispute exists concerning the termination, the Date of Termination shall be extended until the earlier of (i) the date on which the Term ends or (ii) the date on which the dispute is finally resolved, either
by mutual written agreement of the parties or by a final judgment, order or decree of an arbitrator or a court of competent jurisdiction (which is not appealable or with respect to which the time for appeal therefrom has expired and no appeal has
been perfected); provided, however, that the Date of Termination shall be extended by a notice of dispute given by the Executive only if such notice is given in good faith and the Executive pursues the resolution of such dispute with reasonable
diligence. 
 SECTION 11.     Compensation During Dispute. 

If a purported termination occurs following a Change in Control and during the Term and the Date of Termination is extended in accordance
with Section 10 hereof, the Company shall continue to pay the Executive the full compensation in effect when the notice giving rise to the dispute was given (including, but not limited to, salary) and continue the Executive as a participant in
all compensation, benefit and insurance plans in which the Executive was participating when the Notice of Termination was given, until the Date of Termination, as determined in accordance with Section 10 hereof. Amounts paid under this
Section 11 are in addition to all other amounts due under this Agreement and shall not be offset against or reduce any other amounts due under this Agreement or otherwise. 
 SECTION 12.     Nonexclusivity of Rights. 
 Nothing in this Agreement will prevent or limit the Executive’s continuing or future participation in any benefit, bonus, incentive or other plan or program provided by the Company for which the
Executive may qualify, nor will anything herein limit or reduce such rights as the Executive may have under any other agreements with the Company (except for any severance or termination agreement). Amounts which are vested benefits or which the
Executive is otherwise entitled to receive under any plan or program of the Company will be payable in accordance with such plan or program, except as specifically modified by this Agreement. 
 SECTION 13.     No Set-Off. 
 The
Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder will not be affected by any circumstances, including any right of set-off, counterclaim, recoupment, defense or other
right which the Company may have against the Executive or others. 

  
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 SECTION 14.     Miscellaneous. 

No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing
and signed by the Executive and the Company. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party will be deemed
a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreement or representation, oral or otherwise, express or implied, with respect to the subject matter hereof has been made by either party
which is not expressly set forth in this Agreement. 
 SECTION 15.     Governing Law and Binding
Arbitration. 
 This Agreement will be governed by and construed and enforced in accordance with the laws of the
State of Delaware without giving effect to the conflict of laws principles thereof. All disputes relating to this Agreement, including its enforceability, shall be resolved by final and binding arbitration before an arbitrator appointed by the
Judicial Arbitration and Mediation Service (JAMS), in accordance with the rules and procedures of arbitration under the Company’s Dispute Resolution Program, attached hereto as Exhibit B, with the arbitration to be held in San Diego,
California. Judgment upon the award may be entered in any court having jurisdiction thereof. 
 SECTION 16.
    Severability. 
 The provisions of this Agreement will be deemed severable and
the invalidity or unenforceability of any provision will not affect the validity or enforceability of the other provisions hereof. 
 SECTION
17.     Entire Agreement. 
 This Agreement constitutes the entire agreement between
the parties hereto and supersedes all prior agreements, if any, understandings and arrangements, oral or written, between the parties hereto with respect to severance protection in connection with a Change in Control. To the extent that SAIC and the
Executive have previously entered into a Severance Protection Agreement dated prior to the date hereof in substantially similar form as this Agreement (the “Prior Agreement”), the parties acknowledge and agree that, pursuant to notice duly
delivered by SAIC and received by the Executive, the term of the Prior Agreement shall expire effective 11:59 p.m. on December 31, 2011, and the terms and provisions of this Agreement shall control effective 11:59 p.m. on December 31,
2011. 

  
 12 

 SECTION 18.     Code Section 409A. 

It is intended that any amounts payable under this Agreement shall either be exempt from or comply with Section 409A of the Code
(including the Treasury regulations and other published guidance relating thereto) (“Code Section 409A”) so as not to subject the Executive to payment of any interest or additional tax imposed under Code Section 409A. To
the extent that any amount payable under this Agreement would trigger the additional tax, penalty or interest imposed by Code Section 409A, this Agreement shall be modified to avoid such additional tax, penalty or interest yet preserve (to the
nearest extent reasonably possible) the intended benefit payable to the Executive. If the Executive is a “specified employee” within the meaning of Treasury Regulation Section 1.409A-1(i) as of the Termination Date, the Executive
shall not be entitled to any payment or benefit pursuant to Section 3(b) until the earlier of (i) the date which is six months after the Termination Date, or (ii) the date of the Executive’s death. The provisions of this
Section 18 shall only apply if, and to the extent, required to avoid the imputation of any tax, penalty or interest pursuant to Code Section 409A. Any amounts otherwise payable to the Executive upon or in the six month period following the
Executive’s Termination Date that are not so paid by reason of this Section 18 shall be paid (without interest) as soon as practicable (and in all events within five days) after the date that is six months after the Executive’s
Termination Date (or, if earlier, as soon as practicable, and in all events within five days, after the date of the Executive’s death). 
 IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first above written. 

 

	
	SAIC, INC.
	
	  

	 Brian F. Keenan

	 Executive Vice President

	
	 [Executive’s Name]

	
	  

	 [Executive’s Signature]

  
 13 

 Exhibit A 
 RELEASE OF ALL CLAIMS AND POTENTIAL CLAIMS 
 1. This Release of All
Claims and Potential Claims (“Release”) is entered into by and between                     
(“            ”) and SAIC, Inc. (hereinafter “SAIC”).
                     and SAIC have previously entered into a Severance Protection Agreement dated
             (“Severance Agreement”). In consideration of the promises made herein and the consideration due
             under the Severance Agreement, this Release is entered into between the parties. 
 2.(a) The purposes of this Release is to settle completely and release SAIC, its individual and/or collective officers, directors, stockholders, agents, parent companies, subsidiaries, affiliates,
predecessors, successors, assigns, employees (including all former employees, officers, directors, stockholders and/or agents), attorneys, representatives and employee benefit programs (including the trustees, administrators, fiduciaries and
insurers of such programs) (referred to collectively as “Releasees”) in a final and binding manner from every claim and potential claim for relief, cause of action and liability of any and every kind, nature and character whatsoever, known
or unknown, that              has or may have against Releasees arising out of, relating to or resulting from any events occurring prior to the execution of this Release, including
but not limited to any claims and potential claims for relief, causes of action and liabilities arising out of, relating to or resulting from the employment relationship between
             and SAIC and its subsidiaries, affiliates and predecessors, and/or the termination of that relationship including any and all claims and rights under the Age
Discrimination in Employment Act, and any personal gain with respect to any claim arising under the qui tam provisions of the False Claims Act, 31 U.S.C. 3730, but excluding any rights or benefits to which
             is entitled under the Severance Agreement. 

(b) This is a compromise settlement of all such claims and potential claims, known or unknown, and therefore this Release does not
constitute either an admission of liability on the part of              and SAIC or an admission, directly or by implication, that
             and/or SAIC, its subsidiaries, affiliates or predecessors, have violated any law, rule, regulation, contractual right or any other duty or obligation. The parties hereto
specifically deny that they have violated any law, rule, regulation, contractual right or any other duty or obligation. 
 (c)
This Release is entered into freely and voluntarily by              and SAIC solely to avoid further costs, risks and hazards of litigation and to settle all claims and potential
claims and disputes, known or unknown, in a final and binding manner. 
 3. For and in consideration of the promises and
covenants made by              to SAIC and SAIC to             , contained herein,
             and SAIC have agreed and do agree as follows: 

(a)              waives, releases and forever discharges Releasees
from any claims and potential claims for relief, causes of action and liabilities, known or unknown, that [he/she] has or may have against Releasees arising out of, relating to or resulting from any events occurring prior to the execution of this
Release, including but not limited to any claims and potential claims for relief, causes of action and liabilities of any and every kind, nature and character whatsoever, known or unknown, arising out of, relating to or resulting from the employment
relationship between              and SAIC and its subsidiaries, affiliates and predecessors, and the termination of that relationship including any and all claims and rights under
the Age Discrimination in Employment Act, and any personal gain with respect to any claim arising under the qui tam provisions of the False Claims Act, 31 U.S.C. 3730 but excluding any rights or benefits to which
             is entitled under the Severance Agreement. In addition, this Release does not cover, and nothing in this Release shall be construed to cover, any claim that cannot be so
released as a matter of applicable law. 

  
 A-1

 (b)              agrees
that [he/she] will not directly or indirectly institute any legal proceedings against Releasees before any court, administrative agency, arbitrator or any other tribunal or forum whatsoever by reason of any claims and potential claims for relief,
causes of action and liabilities of any and every kind, nature and character whatsoever, known or unknown, arising out of, relating to or resulting from any events occurring prior to the execution of this Release, including but not limited to any
claims and potential claims for relief, causes of action and liabilities arising out of, relating to or resulting from the employment relationship between              and SAIC and
its subsidiaries, affiliates and predecessors, and/or the termination of that relationship including any and all claims and rights under the Age Discrimination in Employment Act. 

(c)              is presently unaware of any injuries that [he/she]
may have suffered as a result of working at SAIC or its subsidiaries, affiliates or predecessors, and has no present intention of filing a workers’ compensation claim. Should any such claim arise in the future,
             waives and releases any right to proceed against SAIC or its subsidiaries, affiliates or predecessors, for such a claim.
             also waives any right to bring any disability claim against SAIC or its subsidiaries, affiliates or predecessors, or its or their carriers. 

4. As a material part of the consideration for this Agreement,
            and [his/her] agents and attorneys, agree to keep completely confidential and not disclose to any person or entity, except immediate family, attorney, accountant, or tax
preparers, or in response to a court order or subpoena, the terms and/or conditions of this Release and/or any understandings, agreements, provisions and/or information contained herein or with regard to the employment relationship between
             and SAIC and its subsidiaries, affiliates and predecessors. 
 5. Any dispute, claim or controversy of any kind or nature, including but not limited to the issue of arbitrability, arising out of or relating to this Release, or the breach thereof, or any disputes
which may arise in the future, shall be settled in a final and binding before an arbitrator appointed by the Judicial Arbitration and Mediation Service in accordance with the rules and procedures of arbitration under the Company’s Dispute
Resolution Program, attached hereto as Exhibit A. The prevailing party shall be entitled to recover all reasonable attorneys’ fees, costs and necessary disbursements incurred in connection with the arbitration proceeding. Judgment upon the
award may be entered in any court having jurisdiction thereof. 
 6. It is further understood and agreed that
             has not relied upon any advice whatsoever from SAIC and/or its attorneys individually and/or collectively as to the taxability, whether pursuant to Federal, State or
local income tax statutes or regulations, or otherwise, of the consideration transferred hereunder and that [he/she] will be solely liable for all of [his/her] tax obligations.
             understands and agrees that SAIC or its subsidiaries, affiliates or predecessors, may be required by law to report all or a portion of the amounts paid to [him/her]
and/or [his/her] attorney in connection with this Release to federal and state taxing authorities.              waives, releases, forever discharges and agrees to indemnify, defend
and hold SAIC harmless with respect to any actual or potential tax obligations imposed by law. 

  
 A-2

 7.             
acknowledges that [he/she] has read, understood and truthfully completed the Business Ethics and Conduct Disclosure Statement attached hereto as Exhibit B. 
 8. It is further understood and agreed that Releasees and/or their attorneys shall not be further liable either jointly and/or severally to
             and/or [his/her] attorneys individually or collectively for costs and/or attorneys fees, including any provided for by statute, nor shall
             and/or [his/her] attorneys be liable either jointly and/or severally to SAIC and/or its attorneys individually and/or collectively for costs and/or attorneys’ fees,
including any provided for by statute. 
 9.             
understands and agrees that if the facts with respect to which this Release are based are found hereafter to be other than or different from the facts now believed by [him/her] to be true, [he/she] expressly accepts and assumes the risk of such
possible difference in facts and agrees that this Release shall be and remain effective notwithstanding such difference in facts. 
 10.              understands and agrees that there is a risk that the damage and/or injury suffered by
             may become more serious than [he/she] now expects or anticipates.              expressly accepts and
assumes this risk, and agrees that this Release shall be and remains effective notwithstanding any such misunderstanding as to the seriousness of said injuries or damage. 
 11.              understands and agrees that if [he/she] hereafter commences any suit arising out of, based upon or relating to any of
the claims and potential claims for relief, cause of action and liability of any and every kind, nature and character whatsoever, known or unknown, [he/she] has released herein,
             agrees to pay Releasees, and each of them, in addition to any other damages caused to Releasees thereby, all attorneys’ fees incurred by Releasees in defending or
otherwise responding to said suit. 
 12. It is further understood and agreed that this Release shall be binding upon and will
inure to the benefit of             ’s spouse, heirs, successors, assigns, agents, employees, representatives, executors and administrators and shall be binding upon and will
inure to the benefit of the individual and/or collective successors and assigns of Releasees and their successors, assigns, agents and/or representatives. 
 13. This Release shall be construed in accordance with and governed for all purposes by the laws of the State of California. 

  
 A-3

 14.             agrees
that [he/she] will not seek future employment with, nor need to be considered for any future openings with SAIC, any division thereof, or any subsidiary or related corporation or entity. 

15.             and Releasees waive all rights under Section 1542
of the California Civil Code, which section has been fully explained to them by their respective legal counsel and which they fully understand, and any other similar provision or the law of any other state or jurisdiction. Section 1542 provides
as follows: 
 A general release does not extend to claims which the creditor does not know or suspect to exist in [his/her]
favor at the time of executing the release, which if known by [him/her] must have materially affected [his/her] settlement with the debtor. 
 16. Notwithstanding anything in this Agreement to the contrary,             does not waive, release or discharge any rights to
indemnification for actions occurring through [his/her] affiliation with SAIC or its subsidiaries, affiliates or predecessors, whether those rights arise from statute, corporate charter documents or any other source nor does
            waive, release or discharge any right             may have pursuant to any insurance policy or coverage
provided or maintained by SAIC or its subsidiaries, affiliates or predecessors. 
 17. If any part of this Agreement is found to
be either invalid or unenforceable, the remaining portions of this Agreement will still be valid. 
 18. This Agreement is
intended to release and discharge any claims of             under the Age Discrimination and Employment Act. To satisfy the requirements of the Older Workers’ Benefit Protection
Act, 29 U.S.C. section 626(f), the parties agree as follows: 
  

	 	A.	            acknowledges that [he/she] has read and understands the terms of this Agreement.

  

	 	B.	            acknowledges that [he/she] has been advised in writing to consult with an attorney, if
desired, concerning this Agreement and has received all advice [he/she] deems necessary concerning this Agreement. 

  

	 	C.	            acknowledges that [he/she] has been given twenty-one (21) days to consider whether
or not to enter into this Agreement, has taken as much of this time as necessary to consider whether to enter into this Agreement, and has chosen to enter into this Agreement freely, knowingly and voluntarily. 

 

	 	D.	For a seven day period following the execution of this Agreement,             may revoke this
Agreement by delivering a written revocation to at SAIC. This Agreement shall not become effective and enforceable until the revocation period has expired. 

 19.             acknowledges that [he/she] has been encouraged to seek the advice of an attorney of [his/her] choice with regard to this
Release. Having read the foregoing, having understood and agreed to the terms of this Release, and having had the opportunity to and having been advised by independent legal counsel, the parties hereby voluntarily affix their signatures. 

  
 A-4

 20. This Agreement is to be interpreted without regard to the draftsperson. The terms and
intent of the Agreement shall be interpreted and construed on the express assumption that all parties participated equally in its drafting. 
 21. This Release constitutes a single integrated contract expressing the entire agreement of the parties hereto. Except for the Severance Agreement, which defines certain obligations on the part of both
parties, and this Release, there are no agreements, written or oral, express or implied, between the parties hereto, concerning the subject matter herein. 
  

	
	 Dated:
                    , 20    

	
	  

	 [Signature]

	
	  

	 [Print Name]

  

			
	SAIC, Inc.
		
	 By:
	 	  

			
	 Name:
	 	  

			
	 Its:
	 	  

  
 A-5

 BUSINESS ETHICS AND CONDUCT 

DISCLOSURE STATEMENT 
 Are you aware of any illegal or unethical practices or conduct anywhere within SAIC, Inc. or its subsidiaries, affiliates or predecessors (“SAIC”) (including, but not limited to, improper
charging practices, or any violations of SAIC’s Standards of Business Ethics and Conduct)? 
  

			
	 Yes  ̈
	 	No  ̈

 (Your answer to all questions on this form will not have any bearing on the fact or terms of your Release
with SAIC.) 
 If the answer to the preceding question is “yes,” list here, in full and complete detail, all such
practices or conduct. (Use additional pages if necessary.) 
  
  

 
  
 Have any threats or promises been made to you in connection with your answers to the questions on this form? 
  

			
	 Yes  ̈
	 	No  ̈

 If “yes,” please identify them in full and complete detail. Also, notify SAIC’s General
Counsel at (703) 676-7880 immediately. 
  
  

 
  
  

 
 I declare under penalty of
perjury, under the laws of the State of California and of the United States, that the foregoing is true and correct. 
 Executed
this             of                     ,
20    , at                     . 
  

	
	  

	 [Signature]Severance Agreement

 Exhibit 10.1 
 SEVERANCE AGREEMENT 
 by and between 

BELMONT SAVINGS BANK 
 and 
 ROBERT M. MAHONEY 

This Severance Agreement (the “Agreement”) is made and entered into as of July 27, 2011 (the “Execution Date”), by
and between Belmont Savings Bank, a Massachusetts-chartered savings bank with its principal administrative office at Two Leonard Street, Belmont, MA 02478 (together with its successors and assigns, the “Bank”) and Robert M. Mahoney
(“Executive”). 
 RECITALS 
 A. Executive possesses unique and valued experience with, and essential knowledge about, financial institutions and their operation and the Massachusetts banking community; 

B. In order to induce Executive to remain employed with the Bank, the Bank and Executive desire to set forth in writing the severance
benefits that are payable to Executive as a result of Executive’s termination of employment for the reasons set forth herein; and 
 C. This Agreement shall supersede and replace the severance agreement between the Bank and Executive dated October 13, 2010. 
 NOW, THEREFORE, in consideration of the mutual covenants and obligations herein contained, it is mutually agreed between the parties hereto as follows: 

1. Term. This Agreement shall continue for a term commencing on the Execution Date and ending on the fourth anniversary of the
Execution Date (the “Initial Term”), and shall be automatically renewed from year to year thereafter for successive one-year terms (each, a “Renewal Term”), unless at least thirty (30) days prior to the expiration of the
Initial Term or any Renewal Term, either party gives written notice of non-renewal to the other. If such notice of non-renewal is given as permitted hereunder, the Agreement will expire at the conclusion of either the Initial Term or the Renewal
Term, whichever is applicable. Notwithstanding any provision of this Agreement to the contrary, Executive’s employment may be terminated at any time prior to the expiration of the Initial Term or a Renewal Term (as applicable), as provided in
Section 2 hereof and subject to the provisions of this Agreement, including, without limitation, Sections 4, 5, 6, 9, 10, 11 and 12. Notwithstanding the foregoing, in the event that at any time prior to the Initial Term or the Renewal Term, the
Company or the Bank has entered into an agreement to effect a transaction which would be a Change in Control (as defined in Section 3 hereof), then the Initial Term or the Renewal Term of this Agreement shall be extended for an additional
twelve (12) months as of the date on which the Change in Control occurs. 

 2. At-Will Status. Notwithstanding any provision of this Agreement, Executive is
employed at-will, such that Executive or the Bank may terminate Executive’s employment at any time, with or without notice, for any or no reason. 
 3. Definitions. As used in this Agreement, the following terms shall have the meanings set forth herein. 
 “Cause” shall exist if Executive: 
  

	 	(i)	engages in unethical or unprofessional conduct (including, but not limited to, sexual harassment or illegal discrimination) in the workplace or in connection with
Executive’s employment or engages in willful malfeasance or misfeasance toward the Bank or any customer or client of the Bank; or 

  

	 	(ii)	engages in an act or acts of dishonesty intended to result in enrichment or advantage to Executive or third party at the expense of the Bank or through the use of the
Bank’s assets (including proprietary or confidential information); or 

  

	 	(iii)	engages in activities or omissions injurious to the good name or reputation of the Bank; or 

 

	 	(iv)	is grossly negligent in the execution of, or willfully fails to carry out, Executive’s duties and responsibilities within the standards of performance which could
reasonably be expected of an employee working for a banking institution in a similar position; or 

  

	 	(v)	fails or refuses (A) to comply with any term or provision of this Agreement, (B) to perform any duties or responsibilities as are assigned reasonably to
Executive by the Board of Directors of the Bank (the “Board”) if such failure or refusal is willful, (C) to adhere to such employment-related policies or procedures as have been or may be established by the Bank, or (D) to
execute and comply with such instruments as may reasonably be requested by the Bank consistent with the foregoing clauses (A), (B) or (C) including, without limitation, the Bank’s rules and policies with respect to conduct and ethics;
or 

  

	 	(vi)	is convicted or enters a plea of guilty or nolo contendere to a crime involving moral turpitude or a crime providing for a term of imprisonment; or

  

	 	(vii)	to the extent not described in the preceding items (i) through (vi), inclusive: 

 

	 	(A)	is suspended or removed from office and/or prohibited from participating in the conduct of the Bank’s affairs by a notice served under Section 8(e) (12 U.S.C.
§1818(e)) or 8(g) (12 U.S.C. §1818(g)) of the Federal Deposit Insurance Act, as amended; or 

  
 2 

	 	(B)	engages in conduct determined by governmental entities having regulatory authority with respect to the Bank to be subject to sanction under any other provision of
Section 8 of the Federal Deposit Insurance Act, as amended, 12 U.S.C. §1818 et seq.; or 

  

	 	(viii)	Abuses alcohol or any controlled substance in a manner that affects Executive’s performance or abilities at the Bank, whether or not such activity constitutes a
crime; or 

  

	 	(ix)	Enters into an arrangement and/or agreement with or becomes a member, shareholder, employee, officer or director of or joint-venturer with any person or entity that
provides services substantially similar to those provided by the Bank or in any way breaches or violates this Agreement. 

 For this purpose, no act, or failure to act, on the part of Executive shall be deemed “willful” unless done, or omitted to be done, by Executive not in good faith and without reasonable belief
that Executive’s action or omission was in the best interests of the Bank. Without limiting the foregoing, in no event shall Executive be deemed to be acting in good faith or in the best interests of the Bank for purposes of the preceding
sentence with respect to acts of omission or commission taken in contravention of any direction(s), rule(s) or requirement(s) issued, authorized, approved or ratified by the Board. 

Notwithstanding the foregoing provisions of this Section 3, in no event shall Cause be deemed to exist unless (i) the Bank
shall provide Executive with written notice making reference to this Agreement, stating that the Bank intends to terminate Executive for Cause within the meaning of this Agreement, and setting forth in reasonable detail the facts and circumstances
allegedly constituting Cause, and (ii) the Bank affords Executive a period of two (2) weeks after issuance of such notice either to demonstrate, through written rebuttal, that Cause does not exist under this Section 3, or to cure the
circumstances constituting such Cause; provided, however, that the determination of whether Cause exists or whether Executive has sufficiently cured any Cause, shall be made in the reasonable discretion of the Board, as evidenced by the affirmative
vote of not less than three-fourths of the entire membership of the Board (excluding Executive) at a meeting of the Board (excluding Executive) called and held for such purpose (after reasonable notice is provided to Executive and Executive is given
an opportunity, together with counsel, to be heard before the Board). Nothing in this Section 3 shall prevent the Bank from terminating Executive for Cause prior to the issuance of the above-referenced notice or expiration of the
above-referenced two (2) week rebuttal/cure period; provided however that if, upon the expiration of such two (2) week period, it is determined that facts or circumstances sufficient to constitute Cause did not (or, if applicable, do not)
exist or has/have been cured, then such earlier termination of Executive by the Bank shall be deemed to be without Cause. Without limiting the foregoing, the Bank may suspend Executive, with or without pay, during the above-referenced two
(2) week rebuttal/cure period, and such suspension shall not constitute either a termination of employment by the Bank under this Agreement or Good Reason for separation by Executive. 

  
 3 

 “Change in Control” shall mean (i) a change in the ownership of the Company
or Bank, (ii) a change in the effective control of the Company or Bank, or (iii) a change in the ownership of a substantial portion of the assets of the Company or Bank, as described below. 

 

	 	(i)	A change in the ownership of a corporation occurs on the date that any one person, or more than one person acting as a group (as defined in Treasury Regulation
1.409A-3(i)(5)(v)(B)), acquires ownership of stock of the Company or Bank that, together with stock held by such person or group, constitutes more than fifty (50) percent of the total fair market value or total voting power of the stock of such
corporation. For these purposes, a change in ownership will not be deemed to have occurred if no stock of the Company or Bank is outstanding. 

  

	 	(ii)	A change in the effective control of the Company or Bank occurs on the date that either (A) any one person, or more than one person acting as a group (as defined
in Treasury Regulation 1.409A-3(i)(5)(vi)(D)) acquires (or has acquired during the twelve (12)-month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of the Company or Bank possessing thirty
(30) percent or more of the total voting power of the stock of the Company or Bank, or (B) a majority of the members of the Company’s or Bank’s board of directors is replaced during any twelve (12)-month period by directors whose
appointment or election is not endorsed by a majority of the members of the Company’s or Bank’s board of directors prior to the date of the appointment or election, provided that this subsection “(B)” is inapplicable where a
majority shareholder of the entity that experiences the change in control is another corporation. 

  

	 	(iii)	A change in a substantial portion of the Company’s or Bank’s assets occurs on the date that any one person or more than one person acting as a group (as
defined in Treasury Regulation 1.409A-3(i)(5)(vii)(C)) acquires (or has acquired during the twelve (12)-month period ending on the date of the most recent acquisition by such person or persons) assets from the Company or Bank that have a total gross
fair market value equal to or more than forty (40) percent of the total gross fair market value of (A) all of the assets of the Company or Bank, or (B) the value of the assets being disposed of, either of which is determined without
regard to any liabilities associated with such assets. 

 For all purposes hereunder, the definition of Change in
Control shall be construed to be consistent with the requirements of Treasury Regulation 1.409A-3(i)(5), except to the extent that such regulations are superseded by subsequent guidance. Notwithstanding anything in this Agreement to the contrary, a
Change in Control shall not be deemed to have occurred upon the conversion of BSB Bancorp, MHC to a stock holding company, or in connection with any reorganization used to effect such a conversion. 

  
 4 

 “Company” shall mean (i) BSB Bancorp, MHC, a mutual holding company, with its
principal administrative office at Two Leonard Street, Belmont, MA 02478 (“MHC”), and (ii) BSB Bancorp, Inc., with its principal administrative office at Two Leonard Street, Belmont, MA 02478 (“Bancorp”). “Company”
shall also include any successor to BSB Bancorp, MHC or BSB Bancorp, Inc. 
 “Good Reason” shall mean: (i) a
material diminution in Executive’s base compensation other than in connection with a reduction in compensation of comparable magnitude, as a percentage matter, affecting all or substantially all executive employees of the Bank; (ii) a
material diminution in Executive’s authority, duties, or responsibilities; (iii) a material diminution in the authority, duties or responsibilities of position to which Executive is to report; (iv) a material diminution in the budget
over which Executive retains authority; (v) a material change in the geographic location at which Executive must perform his duties; or (vi) any other action or inaction that constitutes a material breach by the Bank or Company of any
agreement under which Executive provides services, including this Agreement; provided that for a termination to be deemed for Good Reason, Executive must give, within the ninety (90) day period commencing on the initial existence of the
condition(s) constituting (or allegedly constituting) Good Reason, written notice of the intention to terminate for Good Reason, and, upon receipt of such notice, the Bank shall have a thirty (30) day period within which to cure such
condition(s); and provided further that the Bank may waive such right to notice and opportunity to cure. In no event may facts or circumstances constituting “Good Reason” arise after the occurrence of facts or circumstances that the Bank
relies upon, in whole or in material part, in terminating Executive for Cause. In no event shall the separation from service, replacement or promotion of any employee other than the Executive, per se, constitute “Good Reason.”

 4. Effect of Involuntary Termination or Voluntary Termination for Good Reason other than on or after a Change in
Control. In the event of Executive’s involuntary termination of employment for reasons other than Cause or a voluntary termination of the employment for Good Reason, in either case, other than on or after a Change in Control, Executive
shall be entitled to the following: 
 (a) A severance benefit in an amount equal to the sum of (i) Executive’s annual
base salary rate in effect on the date of such termination, or, if greater, Executive’s average annual base salary rate for the twelve (12) month period ending on the date of such termination, and (ii) the average annual bonus awarded
to Executive (without reduction by reason of any arrangement to defer payment of such bonus), determined based on the two (2) years (or one year if Executive has been employed by the Bank for less than two (2) years) immediately prior to
Executive’s date of termination; provided, however, that if such sum is less than the salary and bonus reported by the Bank in Box 1 of the IRS Form W-2 Wage and Tax Statement (“Form W-2”) issued to the Executive for the tax year
immediately preceding the Executive’s separation from service, then the gross amount of the severance benefit required under this Section 4(a) shall equal the amount reported by the Bank as salary and bonus in Box 1 of such Form W-2. Any
severance benefit to which the Executive is entitled under this Section 4(a) shall be distributed as follows, subject to Section 8 and the satisfaction of the conditions to payment set forth in Section 6: (i) the portion of the
severance benefit set forth herein that exceeds the “Code Section 409A Limit” (as defined below), if applicable, shall be payable in a 

  
 5 

 
lump sum within two and one-half (2.5) months following Executive’s separation from service, and (ii) the portion of the severance benefit that is less than or equal to the Code
Section 409A Limit shall commence within ninety (90) days after the Executive’s separation from service, and shall be distributed in installments, each in the same or substantially the same gross amount as the Executive’s
periodic base salary installments immediately prior to the Executive’ s separation from service, and payable, after the first such installment, in accordance with the Bank’s payroll schedule for executive employees, provided that the
undistributed balance, if any, as of the first anniversary date of the first installment shall be distributed to Executive in its entirety in a lump sum. 
 The “Code Section 409A Limit” is equal to two (2) times the lesser of: (i) the sum of Executive’s annualized compensation that was payable to Executive during the taxable
year preceding the year in which Executive has a separation from service; or (ii) the maximum amount of compensation that may be taken into account under a tax-qualified plan pursuant Section 401(a)(17) of the Internal Revenue Code of
1986, as amended (the “Code”) for the year in which Executive has a separation from service. 
 (b) Subject to
Executive’s payment of a premium portion equal or substantially equal to the premium portion paid by executive employees of the Bank for comparable coverage, for up to one year following separation from service, Executive may continue
Executive’s participation (and, if applicable, that of Executive’s beneficiaries) in the Bank’s group health plan in which Executive participated immediately prior to separation from service; provided, however, that the continuation
of health benefits under this Section 4(b) shall reduce and count against Executive’s rights under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) and comparable state law; and provided further
that nothing herein shall grant Executive rights to continue coverage beyond the maximum COBRA period applicable to Executive. Notwithstanding anything herein to the contrary, if as the result of any change in, or interpretation of, the laws
applicable to the continued welfare benefits hereunder, such benefits are deemed illegal or subject to penalties, then the Bank shall, to the extent permitted under such laws, pay to the Executive a cash lump sum payment reasonably estimated to be
equal to the amount of welfare benefits (or the remainder of such amount) that the Executive is no longer permitted to receive in-kind. Such lump sum payment shall be required to be made no later than two and one-half (2.5) months following the
Executive’s separation from service, or if later, within two and one-half (2.5) months following a determination that such payment would be illegal or subject to penalties. 

(c) Unpaid compensation and benefits, and unused vacation, accrued through the date of Executive’s termination
of employment. Executive shall also be entitled to be reimbursed by the Bank for final expenses that Executive reasonably and necessarily incurred on behalf of the Bank prior to Executive’s termination of employment, provided that Executive
submits expense reports and supporting documentation of such expenses in accordance with the Bank’s expense reimbursement policies in effect at that time. Such reimbursement payment or payments shall be made no later than the time required by
applicable law (or, if earlier, by Bank or Company policy, practice or rule), but in no event later than the sixtieth
(60th) day following Executive’s date of the
termination. 

  
 6 

 (d) Notwithstanding the foregoing, in no event shall any compensation payable to the
Executive pursuant to the provisions of Section 4(a), (b) and (c) above that is subject to Code Section 409A be paid to the Executive unless and until the Executive has incurred a “separation from service” as defined in
Code Section 409A and in regulations and guidance issued thereunder, unless such payment is required by applicable law. For purposes of this Agreement, a “separation from service” shall have occurred if the Bank and Executive
reasonably anticipate that either no further services will be performed by Executive after his date of the termination (whether as an employee or as an independent contractor) or the level of further services performed is less than fifty
(50) percent of the average level of bona fide services in the thirty-six (36) months immediately preceding the termination. For all purposes hereunder, the definition of separation from service shall be interpreted consistent with
Treasury Regulation Section 1.409A-1(h)(ii). 
 5. Termination in Connection with a Change in Control. In the event
of Executive’s involuntary termination of employment for reasons other than Cause or a voluntary termination of employment for Good Reason occurring on or after a Change in Control, Executive shall be entitled to the following: 

(a) A lump sum cash payment equal to three (3) times the sum of: (i) Executive’s annual rate of base salary in effect on
Executive’s date of termination or, if greater, Executive’s average annual base salary rate for the twelve (12) month period ending on the date of such termination, and (ii) the highest rate bonus paid during the three
(3) years prior to Executive’s date of termination. Such amount shall be paid to Executive within thirty (30) days following Executive’s separation from service. 

(b) Life insurance coverage and non-taxable medical and dental coverage, at no cost to Executive, that is substantially comparable (and
on substantially the same terms and conditions) to the coverage maintained by the Bank for Executive immediately prior to his date of termination. Such life insurance and non-taxable medical and dental coverage shall be provided by the Bank to the
Executive for three (3) years following Executive’s separation from service. Notwithstanding anything herein to the contrary, if as the result of any change in, or interpretation of, the laws applicable to the continued welfare benefits
hereunder, such benefits are deemed illegal or subject to penalties, then the Bank shall, to the extent permitted under such laws, pay to the Executive a cash lump sum payment reasonably estimated to be equal to the amount of welfare benefits (or
the remainder of such amount) that the Executive is no longer permitted to receive in-kind. Such lump sum payment shall be required to be made no later than two and one-half (2.5) months following the Executive’s separation from service,
or if later, within two and one-half (2.5) months following a determination that such payment would be illegal or subject to penalties. 
 (c) Unpaid compensation and benefits, and unused vacation, accrued through the date of Executive’s termination of employment. Executive shall also be entitled to be reimbursed by the Bank for final
expenses that Executive reasonably and necessarily incurred on behalf of the Bank prior to Executive’s termination of employment, provided that Executive submits expense reports and supporting documentation of such expenses in accordance with
the Bank’s expense reimbursement policies in effect at that time. Such reimbursement payment or payments shall be made no later than the time required by applicable law (or, if earlier, by Bank or Company policy, practice or rule), but in no
event later than the sixtieth (60th) day following
Executive’s date of the termination. 

  
 7 

 (d) Notwithstanding the foregoing, in no event shall any compensation payable to the
Executive pursuant to the provisions of Section 5(a), (b) and (c) above that is subject to Code Section 409A be paid to the Executive unless and until the Executive has incurred a “separation from service” as defined in
Code Section 409A and in regulations and guidance issued thereunder, unless such payment is required by applicable law. For purposes of this Agreement, a “separation from service” shall have occurred if the Bank and Executive
reasonably anticipate that either no further services will be performed by Executive after his date of the termination (whether as an employee or as an independent contractor) or the level of further services performed is less than fifty
(50) percent of the average level of bona fide services in the thirty-six (36) months immediately preceding the termination. For all purposes hereunder, the definition of separation from service shall be interpreted consistent with
Treasury Regulation Section 1.409A-1(h)(ii). 
 (e) Notwithstanding the foregoing, no compensation and benefits shall be
payable pursuant to both Sections 4 and 5 of this Agreement. 
 6. Conditions of Severance Benefits; Effect on
Executive’s Post-Employment Obligations. Executive shall receive the severance benefits set forth in Section 4(a) and 4(b) hereof only if Executive (a) executes a general release, in a form acceptable to the Bank, within sixty
(60) days of the date of the termination of the Executive’s employment in accordance with the provisions of Section 4 hereof; (b) presents satisfactory evidence to the Bank that Executive has returned all Bank property; and
(c) provides the Bank with a signed, written resignation of Executive’s status as an officer and/or director of the Bank and/or any holding company, subsidiary or affiliate as applicable. In the event the Bank reasonably believes that
Executive has breached, or has threatened to breach, any provision of the Agreement, the Executive shall no longer be entitled to such benefits and further shall be required to reimburse all severance benefits, including payments under
Section 4(a), previously made by the Bank. Such termination of benefits shall be in addition to any and all legal and equitable remedies available to the Bank, including injunctive relief without limiting the foregoing, Executive acknowledges
and agrees that the provisions of Sections 9, 11, 12, 13, 14, 15, 17, 18, and 19 of this Agreement (i) are supported by adequate consideration in addition to the severance benefits provided under Section 4(a) and 4(b) and all other amounts
and things of value to which Executive would be entitled if Executive did not enter into this Agreement, and (ii) shall be enforceable notwithstanding Executive’s failure of refusal to satisfy, in whole or in part, the conditions for the
severance benefits set forth under this Section 6. Notwithstanding the foregoing, the conditions set forth in this Section 6 shall not apply in the event that any compensation or benefits are payable pursuant to Section 5 of this
Agreement. 
 7. Taxes. All payments and benefits described in this Agreement shall be subject to any and all applicable
federal, state and local income, employment and other taxes, and the Bank will deduct from each payment to be made to Executive under this Agreement such amounts, if any, required to be deducted or withheld under applicable law. Executive hereby
acknowledges and agrees that the Bank makes no representations or warranties regarding the tax treatment or tax consequences of any compensation, benefits or other payments under the Agreement, or under any statute, or regulation or guidance
thereunder, or under any successor statute, regulation and guidance thereunder. 

  
 8 

 8. Code Section 409A. If and to the extent this Agreement
provides for a deferral of compensation subject to Section 409A of the Code, it is the intent of the parties that this Agreement, and all payments of deferred compensation subject to Code Section 409A made hereunder, shall be in compliance
with such requirements and the regulations and other guidance thereunder. Notwithstanding any other provision with respect to the timing of payments under Sections 4(a) or 5(a), if, at the time of Executive’s separation from service, Executive
is a “specified employee” (meaning a key employee as defined in Section 416(i) of the Code without regard to paragraph 5 thereof) of the Bank (or a Bank affiliate), then to the extent necessary to comply with the requirements of Code
Section 409A, any payments to which Executive is entitled under Sections 4(a) or 5(a) during the six (6) month period commencing on the Executive’s separation from service which are subject to Code Section 409A (and not otherwise
exempt from its application, including, without limitation, by operation of Treasury Regulation Section 1.409A-1(n)) will be withheld until the first business day of the seventh (7th) month following Executive’s separation from service, at which time such withheld amount shall be paid in a
lump sum distribution. The Bank and Executive agree that they will negotiate in good faith and jointly execute an amendment to modify this Agreement to the extent necessary to comply with the requirements of Code Section 409A, or any successor
statute, regulation and guidance thereunder. 
 9. Limitation on Benefits. 

(a) In no event shall the Bank be obligated to make any payment pursuant to this Agreement that is prohibited by Section 18(k) of the
Federal Deposit Insurance Act (codified at 12 U.S.C. §1828(k)), 12 C.F.R. Part 359, or any other applicable law. 
 (b) In
no event shall the Bank be obligated to make any payment pursuant to this Agreement if: 
 (i) the Bank is in default as
defined in Section 3(x) (12 U.S.C. §18l8(x)(1)) of the Federal Deposit Insurance Act, as amended, or 
 (ii) the
Federal Deposit Insurance Corporation enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) (12 U.S.C. §1823(c)) of the Federal Deposit Insurance Act, as amended.

 10. No Mitigation. The Bank agrees that Executive is not required to use reasonable good faith efforts to seek other
employment and to reduce any amounts payable to Executive by the Bank pursuant to this Agreement. 

  
 9 

 11. Non-Competition; Non-Solicitation; Non-Disclosure. 

(a) During Executive’s employment with the Bank and thereafter until the end of the twelve (12) month period commencing on the
termination of Executive’s employment with the Bank (other than a termination of employment on or after the occurrence of a Change in Control), Executive shall not, without the express written approval of the Bank: 

(i) Directly or indirectly, in one or a series of transactions, own, manage, operate, control, invest or acquire an interest in, or
otherwise engage or participate in, whether as a proprietor, partner, stockholder, lender, director, officer, employee, loan originator, loan officer, joint venturer, investor, agent, consultant or representative, in any Competitive Business (as
hereafter defined); or 
 (ii) Solicit or induce, or attempt to solicit or induce, any other employee or independent contractor
of the Bank or any other person who shall otherwise be in the service of the Bank, to terminate his or her employment with or otherwise cease his or her relationship with the Bank; or 

(iii) Solicit, divert, take away or accept, or attempt to solicit, divert, take away or accept, the business or patronage of any of the
clients, customers (whether any such customer has done business with the Bank once or more than once), suppliers or accounts, or prospective clients, customers, suppliers or accounts, of the Bank. 

For purposes of this Agreement, (i) the term “Competitive Business” means any business that engages in an activity of a
type that competes with the business of the Bank or any of its affiliates (A) within thirty (30) miles of the Bank’s principal administrative office, or (B) outside such thirty (30) mile radius, in any of the communities in
which the Bank or any of its affiliates maintains a place of business or engages in any banking activity as of the Executive’s date of termination; and (ii) Executive agrees that Executive will be deemed to have solicited or induced a
person to cease such person’s relationship with the Bank if such former service provider to the Bank is subject to supervision by Executive in employment following such person’s separation from service with the Bank. 

(b) Executive agrees that Executive shall not at any time or in any manner, directly or indirectly, use or disclose Confidential
Information (as hereinafter defined) to any party other than the Bank either during or after Executive’s termination of employment or the termination of this Agreement for any reason, except for purposes consistent with the administration and
performance of Executive’s obligations hereunder, or as required by law, provided that written notice of any legally required disclosure shall be given to the Bank promptly prior to any such disclosure and Executive shall reasonably cooperate
with the Bank to protect the confidentiality thereof pursuant to applicable law or regulation. For purposes of this Agreement, the term “Confidential Information” includes any confidential or proprietary information furnished or provided
by the Bank to Executive after Executive first became employed by the Bank, under this Agreement or otherwise (whether before or after the Execution Date) (and without regard to whether such information is conveyed directly or on the Bank’s
behalf), or otherwise acquired by Executive as a consequence of Executive’s employment with the Bank and that is not generally known in the industry in which the Bank is engaged and that in any way relates to the products, services, purchasing,
marketing, names of customers, vendors or suppliers, merchandising and selling, plans, data, specifications or any other confidential and proprietary information of the Bank or any affiliate. Any Confidential Information supplied to Executive by the
Bank prior to the Execution Date shall be considered in the same manner and be subject to the same treatment as the Confidential Information made available after the execution of this Agreement. The term “Confidential Information” does not
include information (i) which was already in the public domain, (ii) which is disclosed as a matter of right by a third 

  
 10 

 
party source after the execution of this Agreement, provided such third party source is not bound by a confidentiality agreement with the Bank or (iii) which passes into the public domain by
acts other than the unauthorized acts of Executive, whether acting alone or in concert; provided, however, that any disclosure of Confidential Information may be made by Executive if the Bank expressly consents thereto in writing prior to such
disclosure. 
 12. Exclusive Remedy. Except as expressly set forth herein or otherwise required by law, Executive shall
not be entitled to any compensation, benefits, or other payments from the Bank as a result of, or in connection with, Executive’ s separation from service at any time, for any reason. The payments and benefits set forth in Sections 4 or 5
hereof shall constitute Executive’s sole and exclusive remedy for any claims, causes of action or demands arising under or in connection with this Agreement or its alleged breach, or the termination of Executive’s employment relationship
with the Bank. 
 13. Governing Law/Interpretation. Executive and the Bank agree that this Agreement and any claims
arising out of or in connection with this Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, without giving effect to the principles of conflicts of laws thereof. 

14. Entire Agreement. This Agreement shall constitute the sole and entire agreement between the parties with respect to the
subject matter hereof, and supersedes and cancels all prior, concurrent and/or contemporaneous arrangements, understandings, promises, offers, agreements and/or discussions, including, but not limited to, those concerning employment agreements
and/or severance benefits, whether written or oral, by or between the parties, regarding the subject matter hereof; provided, however, that this Agreement is not intended to, and shall not, supersede, affect, limit, modify or terminate
any written agreement or arrangement between Executive and the Bank that does not relate to the subject matter hereof. 
 15.
Assignment. Executive acknowledges that the services to be rendered hereunder are unique and personal in nature. Accordingly, Executive may not assign any rights or delegate any duties or obligations under this Agreement. The rights and
obligations of the Bank under this Agreement shall automatically be assigned to the successors and assigns of the Bank (including, but not limited to, any successor in the event of a Change in Control, as well as any other entity that controls, is
controlled by, or is under common control with, any such successor), and shall inure to the benefit of, and be binding upon, such successors and assigns. This Agreement shall be binding upon Executive, as well as, Executive’s heir, executors
and administrators of Executive or Executive’s estate and property. 

  
 11 

 16. Notices. All notices required hereunder shall be in writing and shall be
delivered in person, by facsimile or by certified or registered mail, return receipt requested, and shall be effective upon sending if by facsimile, or upon receipt if by personal delivery, or upon the fourth (4th) business day after being sent
by certified or registered mail. All notices shall be addressed as follows or to such other address as the parties may later provide in writing: 
 if to the Bank: 
 Belmont Savings Bank 

Two Leonard Street 
 Belmont, MA 02478 
 ATTN: Chairperson of the Board 

and, if to Executive: 
 at the address set forth on the signature page. 
 17.
Severability/Reformation. If any one or more of the provisions (or any part thereof) of this Agreement shall be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions (or
any part thereof) shall not in any way be affected or impaired thereby, and this Agreement shall be construed and reformed to the maximum extent permitted by law. The language of all parts of this Agreement shall in all cases be construed as a whole
according to its fair meaning and not strictly for or against either of the parties. 
 18. Modification. This Agreement
and the rights, remedies and obligations contained in any provision hereof, may be modified or waived only in accordance with this Section 18. No waiver by either party of any breach by the other or any provision hereof shall be deemed to be a
waiver of any later or other breach thereof or as a waiver of any other provision of this Agreement. This Agreement and its terms may not be waived, changed, discharged or terminated orally or by any course of dealing between the parties, but only
by a written instrument signed by the party against whom any waiver, change, discharge or termination is sought. No modification or waiver by the Bank is effective without written consent of the Board. 

19. Arbitration. Subject to the mutual agreement of the parties hereto at the time a dispute exists between such parties, any
dispute, controversy or claim arising out of, or in connection with, this Agreement shall be exclusively subject to arbitration before the American Arbitration Association (“AAA”). Such arbitration shall take place in Boston,
Massachusetts, before a single arbitrator in accordance with AAA’s then current National Rules for the Resolution of Employment Disputes. Judgment upon any arbitration award may be entered in any court of competent jurisdiction. All parties
shall cooperate in the process of arbitration for the purpose of expediting discovery and completing the arbitration proceedings. Notwithstanding any provision in this Agreement to the contrary, nothing contained in this Section 19 or elsewhere
in this Agreement shall in any way deprive the Bank of its right to obtain injunctive relief, specific performance or other legal or equitable relief in a court of competent jurisdiction for purposes of enforcing the provisions of Section 11
hereof. 
 20. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed to
be an original, but all of which together shall constitute one and the same instrument. 
 21. Section Headings. The
descriptive section headings herein have been inserted for convenience only and shall not be deemed to define, limit, or otherwise affect the construction of any provision hereof. 

  
 12 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement under seal as of the
date and year first written above. 
  

			
	BELMONT SAVINGS BANK
		
	By:	 	 /s/ Robert J. Morrissey

		 	Name: Robert J. Morrissey
		 	Title: Director
	
	EXECUTIVE
	
	 /s/ Robert M. Mahoney
 Robert M. Mahoney

  
 13

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