Document:

Form of Finder Agreement

 Exhibit 10.2 
  
 FINDER AGREEMENT 
  
 This Finder Agreement (“Agreement”) is effective as of the date set forth on the signature page below and establishes the terms
and conditions under which Akesis Pharmaceuticals, Inc., a Nevada corporation (the “Company”), agrees to engage
                                (“Finder”), to assist the
Company in obtaining financing through a private placement of the Company’s common stock (the “Equity Financing”). The Company and Finder hereby agree as follows: 
  
 1. Statement of Services 
  
 (a) Finder shall identify and introduce to the Company
potential investors in the Equity Financing, each of which shall be an “accredited investor” (as defined under Regulation D of the Securities Act) and each of which shall be set forth on Exhibit A attached hereto (each, a
“Qualified Investor”). Finder shall notify the Company in writing, and shall obtain the Company’s written approval, prior to approaching any other potential investor. Subject to the Company’s written approval,
Exhibit A will be amended from time to time during the term of this Agreement to add the names of additional Qualified Investors first identified by Finder. 
  
 (b) Finder acknowledges that (i) the Company is free to contact potential accredited investors directly
and engage other finders, (ii) the Company may determine, in its sole discretion, whether a potential investor identified by Finder shall constitute a Qualified Investor, (iii) the Company may determine, in its sole discretion, whether to
offer an investment, or accept an offered investment, by a Qualified Investor and (iv) the Company is not obligated to compensate Finder for investments offered to the Company that the Company does not accept. 
  
 2. Compensation 
  
 (a) The Company shall, as compensation for the services
provided by Finder hereunder, (i) pay Finder a cash fee (the “Equity Cash Fee”) equal to one percent (1%) of all funds invested by Qualified Investors in the Equity Financing (excluding any funds paid or payable by
such Qualified Investors upon exercise of any warrants), and (ii) issue Finder a Warrant to purchase such number of shares of the Company’s Common Stock (the “Warrants Fee,” and together with the Equity Cash Fee,
the “Finder’s Fee”) calculated as follows: 
  

			
	X = 0.11 * (A/B)
	
	Where:
		
	X =	  	the Warrants Fee;
		
	A =	  	all funds invested by Qualified Investors in the Equity Financing on or before February 15, 2006 (excluding any funds paid or payable by such Qualified Investors upon exercise of any
warrants); and
		
	B =	  	the price per share at which the Company issues shares of the Company’s common stock in the Equity Financing.

			
	 	 	The Warrant shall be prepared by counsel for the Company and shall, among other things, be exercisable for 5 years from the date of issuance, and have an exercise price per share equal to $2.00.
The issuance of the Warrant shall be subject to the Finder’s representation, and the Company’s confirmation, that the Finder is an “accredited investor” (as defined under Regulation D of the Securities Act).

  
 In the event of such Equity Financing,
Finder will only be entitled to the Finder’s Fee with respect to funds actually received and accepted by the Company from Qualified Investors set forth on Exhibit A hereto in accordance with Section 1 hereof. 
  
 (b) In the event that the Company receives equity
investments in one or more installments, any amounts earned by Finder will be paid within thirty (30) days on a pro rata basis when, as and if the Company actually receives the various installments of the investment giving rise to the
Finder’s Fee. 
  
 (c) Finder acknowledges it
has no right to compensation, whether equity, cash or otherwise, other than as set forth in this Section 2. In addition, the Company and Finder agree that no compensation will be earned by Finder in connection with any purchase by a
Qualified Investor of any shares of the capital stock of the Company that are purchased from a party other than the Company. 
  
 3. Representations, Warranties and Covenants 
  
 (a) Finder represents that finding investors for companies is not part of Finder’s ordinary business
activities, that it is not a registered broker-dealer and that it will limit its services to introducing the Company to the Qualified Investors set forth on Exhibit A only. Each party hereby acknowledges that: (i) all negotiations
concerning the terms of the Equity Financing (including price, percentage ownership and other terms) will take place directly between the Company and the Qualified Investors; and (ii) Finder is not acting as agent or principal in the Equity
Financing negotiations or transactions. 
  
 (b)
Finder hereby covenants that it will not, either alone or through its agents: (i) hold any funds or securities in connection with the Equity Financing; (ii) make any offers to sell equity, debt or assets of the Company; (iii) make any
representations respecting the business or affairs of the Company to any Qualified Investor or person or entity, whether in connection with the Equity Financing or otherwise, unless such representation has been previously and expressly authorized by
the Company in writing; (iv) make or engage in any general solicitation or otherwise act in any manner that would make unavailable to the Company an exemption under Rule 506 of Regulation D of the Securities Act of 1933, as amended
(the “Securities Act”), for the issuance of the Company’s securities in connection with the Equity Financing, if any; or (v) take any action that would not comply with the applicable laws and regulations relating to
the services to be rendered to the Company, including without limitation the Securities Act and Regulation S thereunder and the broker-dealer provisions of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

  

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 (c) Finder represents and warrants to the Company that it has the full legal right to
enter into and perform this Agreement and that its entry into and performance of this Agreement does not and will not violate any fiduciary or other duty it may have to any other person. 
  
 (d) Finder acknowledges that it is responsible for its own compliance with state and federal securities laws
including the Securities Act, the Exchange Act and all rules promulgated thereunder. 
  
 (e) Finder will contact only potential investors with whom it has a substantial preexisting relationship that evidences that such
potential investors are sophisticated or otherwise accredited investors (as defined under Regulation D of the Securities Act). In furtherance thereof, Finder shall obtain from each potential investor an accredited investor questionnaire in a form
approved by the Company. 
  
 (f) Finder agrees to
only furnish information and materials to the Qualified Investors that are provided or approved by the Company, and Finder agrees to not misrepresent the Company’s business and prospects in discussions with Qualified Investors. 
  
 4. Indemnification. 
  
 (a) Finder agrees to indemnify and hold harmless the
Company, its officers, directors, employees, legal counsel and its affiliates (each, a “Company Indemnified Party”) against any and all losses, claims, damages and liabilities, joint or several, and expenses (including all
legal or other expenses reasonably incurred by the Company) caused by or arising out of (i) any misrepresentation or untrue statement or alleged misrepresentation or untrue statement of a material fact made by Finder to the Qualified Investors,
or the omission or the alleged omission to state to the Qualified Investors a material fact necessary in order to make statements made not misleading in light of the circumstances under which they were made (except to the extent such
misrepresentations, untrue statements or omissions are based on information provided to Finder by the Company), (ii) any misrepresentation or untrue statement or alleged misrepresentation or untrue statement of a material fact contained in any
document furnished to the Qualified Investors, or the omission or the alleged omission to state in the documents furnished to the Qualified Investors a material fact necessary in order to make the statements therein not misleading in light of the
circumstances under which they were made, to the extent such misstatements or omissions are made in reliance upon and in conformity with written information furnished by Finder for use in the documents furnished to the Qualified Investors,
(iii) any breach or alleged breach of any representation, warranty or covenant made by Finder in this Agreement, or (iv) Finder’s bad faith, gross negligence or willful misconduct in performing the services described herein. Finder
agrees to reimburse the Company Indemnified Party for any reasonable expense (including reasonable fees and expenses of counsel) incurred as a result of producing documents, presenting testimony or evidence, or preparing to present testimony or
evidence (based upon time expended by the Company Indemnified Party at its then current time charges or if such person shall have no established time charges, then based upon reasonable charges), in connection with any court or administrative
proceeding (including any investigation which may be preliminary thereto) arising out of or relating to the performance by the Company Indemnified Party of any obligation hereunder. 
  

 -3- 

 (b) The Company agrees to indemnify and hold harmless the Finder, its officers,
directors, employees, legal counsel and its affiliates (each, a “Finder Indemnified Party”) against any and all losses, claims, damages and liabilities, joint or several, and expenses (including all legal or other expenses
reasonably incurred by the Finder) caused by or arising out of (i) any misrepresentation or untrue statement or alleged misrepresentation or untrue statement of a material fact made by the Company to the Qualified Investors, or the omission or
the alleged omission by the Company to state to the Qualified Investors a material fact necessary in order to make statements made not misleading in light of the circumstances under which they were made (except to the extent such misrepresentations,
untrue statements or omissions are based on information (A) provided to the Qualified Investors by the Finder and not provided to the Finder by the Company, or (B) provided to the Company by the Finder), (ii) any misrepresentation or
untrue statement or alleged misrepresentation or untrue statement of a material fact contained in any document furnished to the Qualified Investors, or the omission or the alleged omission by the Company to state in the documents furnished to the
Qualified Investors a material fact necessary in order to make the statements therein not misleading in light of the circumstances under which they were made, to the extent such misstatements or omissions are made in reliance upon and in conformity
with written information furnished by the Company for use in the documents furnished to the Qualified Investors, (iii) any breach or alleged breach of any representation, warranty or covenant made by the Company in this Agreement, or
(iv) the Company’s bad faith, gross negligence or willful misconduct in performing its obligations herein. The Company agrees to reimburse the Finder Indemnified Party for any reasonable expense (including reasonable fees and expenses of
counsel) incurred as a result of producing documents, presenting testimony or evidence, or preparing to present testimony or evidence (based upon time expended by the Finder Indemnified Party at its then current time charges or if such person shall
have no established time charges, then based upon reasonable charges), in connection with any court or administrative proceeding (including any investigation which may be preliminary thereto) arising out of or relating to the performance by the
Finder Indemnified Party of any obligation for which it is indemnified hereunder. 
  
 5. Confidentiality 
  
 (a) Finder will maintain in confidence and will not use for its own benefit or other than for the performance of its obligations under
this Agreement: (i) any inventions, confidential know-how, trade secrets and other non-public information and data disclosed to it by the Company; and (ii) all information developed by Finder in performance of its services under this
Agreement, and it will not divulge the same to any other persons. Finder will use best efforts to prevent any unauthorized disclosure of the information described in (i) and (ii) above. It is understood that the obligations of this section
will remain in effect and shall be respected by Finder until such time as the information becomes a matter of public knowledge, irrespective of the termination, for any reason, of this Agreement. 
  
 (b) All notes, records and other documentation or tangible
materials (collectively, “Documentation”) made or kept by Finder in connection with the services performed under this Agreement, or in connection with any inventions made or conceived by Finder that belong to the Company
pursuant to the terms of this Agreement, will be and are the sole and exclusive property of the Company. Upon the termination of this Agreement, Finder will place all such Documentation in the Company’s possession and will not retain or take
with it, without the written consent of the Company, any Documentation relating or pertaining to services performed by it under this 

  

 -4- 

 
Agreement or to any of the activities of the Company. Finder will respect any obligation it may have arising out of this Agreement with respect to
confidential information and agrees not to use or divulge to the Company, or its agents and employees, during the term of this Agreement any such information. 
  

(c) Finder represents that it is not presently retained by any entity that manufactures or sells products or services competitive with
those of the Company and agrees that it will not accept such retention during the term of this Agreement or any renewal or extensions hereof, and for one year after the termination of this Agreement, or any renewal or extensions hereof without prior
written approval of the Company. 
  
 6. Term
and Termination 
  
 (a) Term.
Unless and until terminated as set forth herein, this Agreement will continue in full force and effect for an initial term expiring on February 15, 2006. 
  

(b) Renewal. Upon expiration of this Agreement pursuant to Section 6(a)(i), the Company may renew this Agreement on
a month-to-month basis by notice to Finder at least 10 days prior to such expiration. 
  
 (c) Termination. The Company may terminate this Agreement (i) immediately and without notice in the event of breach by Finder
of this Agreement and (ii) upon 10 days’ prior written notice for any reason other than breach by Finder of this Agreement. In the event the Company terminates this Agreement pursuant to Section 6(c)(i), Finder will not be
entitled to any unpaid Finder’s Fee. In addition, upon breach of this Agreement by Finder, the Company will be entitled to all other remedies available under applicable law. In the event the Company terminates this Agreement pursuant to
Section 6(c)(ii), Finder will be entitled to the Finder’s Fee with respect to approved Qualified Investors if the Equity Financing closes within the 90-day period commencing on the date hereof. 
  
 (d) Surviving Provisions. Section 4 and
Section 5 will survive indefinitely the termination or expiration of this Agreement. 
  
 7. Expenses. Finder will be reimbursed for reasonable expenses that are approved by the President of the Company in writing
prior to the expense being incurred. Notwithstanding the foregoing, expenses for the term of this Agreement will not exceed $1,000. 
  
 8. Independent Contractor. Finder will perform its services hereunder as an independent contractor, and nothing in this Agreement will in
any way be construed to constitute Finder the agent, employee or representative of the Company. Neither Finder nor any agent acting on behalf of Finder will enter into any agreement or incur any obligations on the Company’s behalf or commit the
Company in any manner or make any representations, warranties or promises on the Company’s behalf or hold itself (or allow itself to be held) as having any authority whatsoever to bind the Company without the Company’s prior written
consent, or attempt to do any of the foregoing. 
  

 -5- 

 9. Miscellaneous 
  
 (a) Arbitration. Except as otherwise provided by law,
the parties hereto agree that any dispute or controversy arising out of, relating to or concerning any interpretation, construction, performance or breach of this Agreement, shall be settled by arbitration to be held in San Diego County, California,
in accordance with the commercial dispute resolution rules then in effect of the American Arbitration Association. The Arbitrator may grant injunctions or other relief in such dispute or controversy. The decision of the arbitrator will be final,
conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction. The parties shall each pay one-half of the costs and expenses of such arbitration, and each shall
separately pay its counsel fees and expenses. 
  
 (b) Covenant against Assignment. This Agreement is personal to the parties hereto, and accordingly neither the Agreement nor any right hereunder or interest herein may be assigned or transferred or charged or otherwise dealt with by
either party without the express written consent of the other. Notwithstanding the foregoing, however, the Company will be entitled to assign this Agreement and the Company’s rights hereunder to a successor to all or substantially all of its
assets, whether by sale, merger or otherwise. 
  
 (c) Entire Agreement; Amendment. This Agreement and the attached exhibits constitute the entire contract between the parties with respect to the subject matter hereof and supersede any prior agreements between the parties. This
Agreement may not be amended, nor any obligation hereunder waived, except by an agreement in writing executed by, in the case of an amendment, each of the parties hereto, and, in the case of a waiver, by the party waiving performance. 
  
 (d) No Waiver. The failure or delay by a party to
enforce any provision of this Agreement will not in any way be construed as a waiver of any such provision or prevent that party from thereafter enforcing any other provision of this Agreement. The rights granted both parties hereunder are
cumulative and will not constitute a waiver of either party’s right to assert any other legal remedy available to it. 
  
 (e) Severability. Should any provision of this Agreement be found to be illegal or unenforceable, the other provisions will
nevertheless remain effective and will remain enforceable to the greatest extent permitted by law. 
  
 (f) Notices. Any notice, demand, offer, request or other communication required or permitted to be given by either the Company or
Finder pursuant to the terms of this Agreement must be in writing and will be deemed effectively given the earlier of (i) when received, (ii) when delivered personally, (iii) one business day after being delivered by facsimile (with
receipt of appropriate confirmation) to the number provided to the other party or such other number as a party may request by notifying the other in writing, (iv) one business day after being deposited with an overnight courier service or
(v) four days after being deposited in the U.S. mail, First Class with postage prepaid, and addressed to the party at the address previously provided to the other party or such other address as a party may request by notifying the other in
writing. 
  

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 (g) Counterparts. This Agreement may be executed in one or more counterparts, each
of which will be deemed an original, but all of which together will constitute one and the same agreement. Facsimile copies of signed signature pages will be deemed binding originals. 
  
 (h) Governing Law. This Agreement is governed by the internal substantive laws, but not the choice of
law rules, of California. 
  
 [Signature page follows.] 

 

 -7- 

 The parties have executed this Agreement as of January
        , 2006. 
  

			
	AKESIS PHARMACEUTICALS, INC.
		
	 By:   
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	FINDER
	 [_____________]

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	 Address:

  
 AKESIS PHARMACEUTICALS, INC. 
 SIGNATURE PAGE
TO FINDER AGREEMENT 

 Exhibit A 
  

QUALIFIED INVESTORS 
  

					
	Name and Address of Qualified Investor	  	 Company Initialed Approval

			
	1.	  	__________________________________________	  	 Approved ______

			
	 	  	__________________________________________	  	 
			
	 	  	__________________________________________	  	 
			
	2.	  	__________________________________________	  	 Approved ______

			
	 	  	__________________________________________	  	 
			
	 	  	__________________________________________	  	 
			
	3.	  	__________________________________________	  	 Approved ______

			
	 	  	__________________________________________	  	 
			
	 	  	__________________________________________	  	 
			
	4.	  	__________________________________________	  	 Approved ______

			
	 	  	__________________________________________	  	 
			
	 	  	__________________________________________	  	 
			
	5.	  	__________________________________________	  	 Approved ______

			
	 	  	__________________________________________	  	 
			
	 	  	__________________________________________Retention Agreement dated as of December 16, 2005

 Exhibit 10.44 
  
 Retention Agreement 
  
 This Retention Agreement (the “Agreement”), is dated as of December 16, 2005, by and among The Town Bank (“TBW”), a New Jersey
banking corporation the principal business address of which is 520 South Avenue, Westfield, NJ 07090; Community Partners Bancorp (“CPB”), a New Jersey business corporation in formation, the principal address of which is c/o Two River
Community Bank, 1250 Highway 35 South, Middletown, NJ 07748; and Nicholas A. Frungillo, Jr. (“Mr. Frungillo”), an individual whose address is 1571 Rising Way, Mountainside, NJ07092. 
  
 Recitals 
  
 WHEREAS, Mr. Frungillo has served as a Director, and as Executive Vice President and Chief Financial Officer, of TBW
for many years; and 
  
 WHEREAS, TBW has agreed to become a wholly
owned subsidiary of CPB (with the transaction as the immediate result of which TBW actually becomes a wholly owned subsidiary of CPB being defined for all purposes of this Agreement as the “Combining Transaction”); and 
  
 WHEREAS, Mr. Frungillo has, during his tenure as a Director, and officer
and an employee of TBW, developed unique knowledge and expertise which is valuable to TBW, which knowledge and expertise will inure to the direct benefit of CPB; and 
  
 WHEREAS, TBW and Mr. Frungillo are parties to a Severance Agreement, as amended through March 31, 2006 (the
“Severance Agreement”), dated December 4, 2002; and 
  
 WHEREAS, TBW and CPB wish to encourage Mr. Frungillo to remain as an officer and employee of TBW through a date (with such date being referred to in this Agreement as the “Release Date”) which is not later than June 30,
2006. 
  
 NOW, THEREFORE, in consideration of the mutual promises
and covenants set forth in this agreement, the sufficiency of which as consideration are hereby acknowledged, TBW, CPB and Mr. Frungillo agree as follows: 
  

1. Continuation of Employment; Resignation as Director. Mr. Frungillo shall continue to serve as Executive Vice President and Chief
Financial Officer of TBW through the Release Date as determined under Paragraph 2 of this Agreement and shall, in that capacity, consult with the directors, officers and employees of TBW and CPB on, and undertake and complete those tasks that are
assigned to him by the executive management of TBW and CPB with respect to, those matters, business opportunities and operational responsibilities pertaining to TBW which are within his responsibility as Executive Vice President and Chief Financial
Officer of TBW, or are referred to him by the executive management of TBW or CPB. In particular, Mr. Frungillo shall actively 

  

 1 

 
cooperate with the executive management of TBW and CPB in providing that information and completing those tasks which will allow TBW to become, and function
as, a wholly owned subsidiary of CPB in the most effective and efficient manner possible. Mr. Frungillo agrees to provide the services to TBW which are contemplated by this Agreement with diligence, and in a manner which is entirely consistent
with all current or future TBW or CPB policies, including those which pertain to personal conduct and business practices. Mr. Frungillo acknowledges that his employment by TBW remains on an “at will” basis at all times. 
  
 Mr. Frungillo shall resign as a Director of TBW on, and as of, the date
of the Combining Transaction. 
  
 2. Release Date; Payment of
Compensation Through April 30, 2006. The Release Date shall be that date which is determined by the mutual decision of TBW and CPB, but shall not be later than June 30, 2006. If TBW and CPB decide to accelerate the Release Date to a
date which is prior to June 30, 2006, (i) TBW shall notify Mr. Frungillo of the actual Release Date, as so determined, not less than ten (10) days prior to the Release Date, and (ii) TBW shall, if the Release Date is prior
to April 30, 2006, pay to Mr. Frungillo on the Release Date that amount which would otherwise have been paid to him as regular compensation under clause (i) of Section 3 of this Agreement had he remained as Executive Vice
President and Chief Financial Officer of TBW through April 30, 2006, in addition to all other amounts which are due to him under this Agreement. 
  
 3. Compensation to Mr. Frungillo; Medical Benefits. For so long as he is employed as Executive Vice President and Chief Financial Officer of
TBW, Mr. Frungillo shall be (i) paid at a rate of One Hundred Fifty Four Thousand Dollars ($154,000.00) per annum; (ii) granted such bonuses as are justified by his individual performance, and are consistent with the established
compensation practices and financial performance of TBW; (iii) provided with full coverage under the employee health benefit plans and fringe benefit programs which are maintained by TBW under the same terms and conditions as are applied to the
rank and file employees of TBW, as those terms and conditions may change from time to time, and (iv) provided with his present automobile allowance. 
  
 4. Supplementary Compensation to Mr. Frungillo. TBW shall pay to Mr. Frungillo the sum of One Hundred Fifty Four Thousand Dollars
($154,000) (the “Supplementary Compensation”) if, and only if, Mr. Frungillo either (i) resigns as Executive Vice President and Chief Financial Officer of TBW at any time on or after the Release Date; or (ii) is actually or
constructively terminated by TBW without the existence of “Cause” at any time subsequent to the date of this Agreement (with such a resignation or termination being defined as a “Payment Event”). For purposes of the preceding
sentence (a) “Cause” shall be defined as such term is defined in the Severance Agreement; and (b) Mr. Frungillo shall be deemed to have been constructively terminated by TBW if he resigns as a direct result of any material
diminution or material adverse change in his title, job description, duties or responsibilities. The Supplementary Compensation shall be paid to Mr. Frungillo by check or electronic funds transfer within three (3) business days after
effective date of the General Release which is required under Section 3 of the Severance Agreement with respect to the Payment Event. 
  

 2 

 4a. Disability. In the event that Mr. Frungillo dies or becomes disabled after the date of
this Agreement but prior to the actual occurrence of a Payment Event, TBW shall pay to Mr. Frungillo or his testamentary estate, as the case may be, within twenty one (21) days of the date of his death or the date when he is determined to
have become disabled under this Section 4a, all amounts which would otherwise have been due and payable to him if he had continued to serve as the Executive Vice President and Chief Financial Officer of TBW through April 30, 2006, and a
Payment Event had occurred on that date. For purposes of the preceding sentence, Mr. Frungillo shall be deemed to have become disabled if, and only if, (i) the medical doctor whose name is listed first on the attached Exhibit 4a or, if
that physician is unavailable, the first available listed alternative physician, or (ii) a specialist to whom Mr. Frungillo is referred by medical doctor designated under clause (i)conclusively determines after conducting a thorough
examination and those further tests which are consistent with good medical practice that Mr. Frungillo suffers from a physical or mental condition that renders him incapable of serving as the Executive Vice President and Chief Financial Officer
of TBW through June 30, 2006. 
  
 5. Additional Benefits
upon a Payment Event. Upon and after the occurrence of a Payment Event, TBW shall: 
  

	 	(a)	For a period which begins on the occurrence of the Payment Event and ends on the earlier of (i) the final day of the eighteenth full calendar month after the occurrence of the
Payment Event or (ii) the first day on which Mr. Frungillo is eligible to participate in the employee health benefit plan provided by the entity which first employs Mr. Frungillo subsequent to the occurrence of the Payment Event,
defray the full cost under the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”) of Mr. Frungillo’s continued participation by his family and himself in the employee health benefit plan maintained by TBW; and

  

	 	(b)	 Tender a payment to Mr. Frungillo in exchange for the full, irrevocable relinquishment and cancellation of his vested, but unexercised, and unvested options
for the purchase of common capital stock in TBW in an amount equal to the product of (a) the number of such options, and (b) the difference between (I) the product of (i) the exchange ratio which expresses each
single share of TBW as being equivalent to a particular whole and fractional number of shares in Two River Community Bank, as actually and finally determined under the definitive agreement for the Combining Transaction and (ii) the Two River
Average Price, and (II) the weighted average of the exercise price under all such stock options, which amount shall be paid to Mr. Frungillo by check or electronic funds transfer within three (3) business days after the occurrence of the
Payment Event. For 

  

 3 

	 	    	purposes of this Section 5(b), Two River Average Price means the average of the Volume Weighted Average Prices of Two River Common Stock for each of the 20 consecutive Trading
Days immediately preceding the second Trading Day prior to the Closing Date, disregarding the highest and lowest Volume Weighted Average Prices during such period. A “Trading Day” is any calendar day on which financial markets are open for
trading and shares of Two River Common Stock have been reported as traded by the OTC Bulletin Board. The date that is the second Trading Day prior to the Closing Date is referred to herein as the “Determination Date”. “Volume Weighted
Average Price” means, for any Trading Day, the quotient obtained by dividing: (x) the aggregate purchase price for all of the shares of Two River Common Stock traded, by (y) the total number of shares of Two River Common Stock traded;
determined with reference to the OTC Bulletin Board (as reported on the Yahoo Finance website at http://finance.yahoo.com, or if not reported thereby or if either of TBW or Two River Community Bank demonstrates that the information reported on such
website is incorrect with respect to any particular day or days, as reported by any other authoritative source agreed upon by TBW and Two River Community Bank. 

  
 6. Covenant Not to compete. Mr. Frungillo agrees that for a period of twelve (12) months from the
occurrence of a Payment Event, he shall not become employed or retained by, directly or indirectly, any bank or other regulated financial services institution with an office or operating branch in Middlesex County or Union County, New Jersey.
Mr. Frungillo acknowledges that the terms and conditions of this restrictive covenant are reasonable and necessary to protect TBW, and that TBW’s tender of performance under this Agreement is fair, adequate and valid consideration in
exchange for his promises under this Paragraph 6 of this Agreement. Mr. Frungillo further acknowledges that his knowledge, skills and abilities are sufficient to permit him to earn a satisfactory livelihood without violating the provisions of
this Paragraph 6. 
  
 7. Assignment. This Agreement is a
personal services contract and may not be assigned or transferred by Mr. Frungillo at any time. However, Mr. Frungillo acknowledges and agrees that this Agreement may be freely assigned by TBW in its sole discretion and without the
expressed or implied consent of Mr. Frungillo, and shall be deemed as legally assigned to, and inure to the benefit of, TBW’s successors and assigns without the execution of any further instrument. 
  
 8. Condition Precedent to Effectiveness of Agreement; Joinder by CPB.
The consummation of the Combining Transaction shall be an unwaivable condition precedent to the effectiveness of this Agreement, and the obligations of TBW and Mr. Frungillo to tender performance under this Agreement. Upon the consummation of
the Combining Transaction, CPB shall be deemed to be a party to this Agreement, shall be bound by its terms, and shall be entitled to directly enforce this Agreement. 
  

 4 

 9. Entire Agreement. This instrument contains the entire Agreement between TBW, CPB and
Mr. Frungillo concerning its subject matter, and supersedes all prior or contemporaneous contracts, agreements, representations or understandings, whether written or oral. No provision of this Agreement may be changed, altered, modified or
waived except (i) prior to the Combining Transaction, by a written agreement signed by Mr. Frungillo and TBW with the prior written consent of CPB, and (ii) subsequent to the Combining Transaction, by a written agreement signed by
Mr. Frungillo, CPB and TBW. 
  
 10. Headings. The
section headings contained herein have been inserted for convenience of reference only and shall not be used to interpret, construe or in any way affect the meaning or interpretation of the terms and provisions hereof. 
  
 11. Prior Agreements. This Agreement supercedes all prior agreements
and understandings, both written and oral, between the Parties hereto with respect to its subject matter. This Agreement shall not, in any respect, supercede, diminish or otherwise affect the Severance Agreement, which Severance Agreement has been
extended by the Board of Directors of TBW to March 31, 2006, and which shall remain fully enforceable in accordance with its terms, PROVIDED, HOWEVER, that the benefits paid to Mr. Frungillo under Section 5(a) of this Agreement shall
be entirely in lieu of any obligation by TBW to fund COBRA payments under the Severance Agreement. 
  
 12. Notices. Any notice or other communication under this Agreement shall be in writing and shall be sent by certified or registered mail addressed
to its intended recipient at its principal address, as set forth in the opening paragraph of this Agreement. Any such notice or other communication shall be deemed to have been given when deposited, postage pre-paid, in the United States mail.

  
 IN WITNESS WHEREOF, Mr. Frungillo, CPB and TBW
have executed this Agreement on the day and the year first above written. 
  

							
	 ATTEST:
	 	 	 	 THE TOWN BANK

				
	 /s/ Frederick H. Kurtz

	 	 	 	 By:
	 	 /s/ Joseph O’Sullivan

			
	 ATTEST:
	 	 	 	 COMMUNITY PARTNERS BANCORP

				
	 /s/ Michael W. Kostelnik, Jr.

	 	 	 	 By:
	 	 /s/ Barry B. Davall

				
	 WITNESS:
	 	 	 	 	 	 
			
	 Joseph O’Sullivan

	 	 	 	 /s/ Nicholas A. Frungillo

	 	 	 	 	 Nicholas A. Frungillo

  

 5

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