Document:

Exhibit 10.7

 

[FORM OF]

 

EXECUTIVE CHAIRMAN AND SEPARATION AGREEMENT

 

THIS EXECUTIVE
CHAIRMAN AND SEPARATION AGREEMENT (the “Agreement”) is entered into as of this 9th day of
October, 2020, but shall be effective upon the Effective Time (as defined in the Merger Agreement defined below) (hereinafter the
 “Effective Date”) by and between Dime Community Bancshares, Inc., a Delaware corporation (“Company”),
and Kenneth J. Mahon (the “Executive” or “Executive Chairman”).

 

WHEREAS, immediately
prior to the Effective Time, the Executive was serving as Chief Executive Officer of the Company which entered into an Agreement
and Plan of Merger, dated as of July 1, 2020 (“Merger Agreement”) with Bridge Bancorp, Inc. (“Bridge”),
pursuant to which the Company will be merged with and into Bridge (the “Merger”); and

 

WHEREAS, pursuant
to the terms of the Merger Agreement, the name of Bridge Bancorp, Inc. will be changed to Dime Community Bancshares, Inc. and the
name of BNB Bank will be changed to Dime Community Bank; and accordingly, all references in this Agreement to Bridge Bancorp, Inc.
shall be replaced with Dime Community Bancshares, Inc. and all references in this Agreement to BNB Bank shall be replaced with
Dime Community Bank as of the Effective Date; and

 

WHEREAS, pursuant
to the terms of the Merger Agreement, the Executive and the Company desire for the Executive to serve as Executive Chairman of
the Board of Directors of the Company (the “Board of Directors”) commencing on the Effective Date; and

 

WHEREAS, as
of the Effective Date, the Company and the Executive mutually desire to memorialize the terms under which the Executive will serve
as Executive Chairman of the Board of Directors; and

 

WHEREAS, this
Agreement does not impact the terms of that certain Amended and Restated Employment Agreement, by and between the Company and the
Executive Chairman, dated as of March 13, 2011, and that Amended and Restated Employment Agreement, by and between The Dime Savings
Bank of Williamsburgh, dated as of March 13, 2011, the payment terms of which will be honored as calculated under the terms of
each agreement at the Effective Date (the “Prior Employment Agreements”).

 

NOW, THEREFORE, in
consideration for the above recited promises and the mutual promises, agreements and covenants of the Company and the Executive
Chairman contained herein, the adequacy and sufficiency of which are hereby acknowledged, the Company and the Executive Chairman
hereby agree as follows:

 

1.       Duties
and Effort. The Company requires that the Executive Chairman be available to perform the duties of Executive Chairman
customarily related to this function, including (a) acting as chairman of Board of Directors’ meetings,
(b) providing overall leadership to enhance the effectiveness and performance of the Board of Directors, (c) acting as
the primary spokesperson for the entire Board of Directors, (d) conferring with the Chief Executive Officer of the Company on
succession planning and key hiring and firing decisions, (d) conferring with the Chief Executive Officer of the Company on
reviewing and developing strategic initiatives, including coordinating on strategic initiatives and writing plans to bring to
the entire Board of Directors, (e) conferring with the Chief Executive Officer of the Company and senior executives of the
Company on identifying and evaluating potential merger and acquisition transactions, and (f) otherwise performing the
duties of Chairman of the Board of Directors, as well as such other customary duties the as may be determined and assigned by
the Board of Directors and as may be required by the Company’s governing instruments, including its certificate of
incorporation, bylaws and its corporate governance charters, each as amended or modified from time to time, and by applicable
law, rule or regulation. The Executive Chairman agrees to devote such time as is reasonably and customarily necessary to
perform completely his duties to the Company as Executive Chairman.

 

     

     

    

 

2.       Term.
The term of this Agreement shall commence as of the Effective Date and shall continue until the date that the Executive Chairman
is no longer serving as Executive Chairman of the Board of Directors (as the same may be renewed with the approval of the Board
of Directors and the Company’s stockholders), or upon his earlier death, incapacity, removal or resignation (the “Term”).
During the Term of this Agreement, the Executive Chairman will be provided with a corporate office located in New York, New York.

 

3.       No
Employment Relationship. This Agreement is not intended to create an employment relationship between the parties. Rather, it
is their intention that the Executive Chairman shall be an independent contractor of the Company. The Executive Chairman shall
be solely responsible for the payment or withholding of all federal, state, or local income taxes, social security taxes, unemployment
taxes, and any and all other taxes relating to the compensation he earns under this Agreement. The Executive Chairman shall not
be eligible to participate in any of the Company’s employee benefit plans.

 

4.       Separation
from Service. The Company, Dime Community Bank (the “Bank”) and the Executive acknowledge and agree that
the Executive’s departure from his previous role as Chief Executive Officer of the Company and the Bank constitutes a Resignation
for Good Reason, as such term is defined in Section 12(b) of each of the Prior Employment Agreements.

 

5.       Compensation.

 

(a)       For
services to be rendered by the Executive Chairman in any capacity hereunder, the Company agrees to pay the Executive Chairman the
following compensation:

 

(i)       a
cash retainer fee, as determined by the Board of Directors from time to time for the position of Executive Chairman, in addition
to any compensation as provided in Section 5(a)(ii) of this Agreement (“Executive Chairman Retainer”); and

 

(ii)       equity
awards and other forms of non-cash compensation in the same amounts and on the same dates as such compensation is paid to other
members of the Board of Directors.

 

(b)       The
compensation of the Executive Chairman (including any participation in the Company’s equity incentive plan) may be adjusted
from time to time as determined by the Compensation Committee or other similar committee of the Board of Directors.

 

(c)       For
the avoidance of doubt, the Company, the Bank and the Executive acknowledge that the Merger constitutes a Change in Control, as
such term is defined in the Prior Employment Agreements, and that the Executive is entitled to all change in control related severance
benefits under Section 9(b) of the Prior Employment Agreements.

 

6.       Transaction
Bonus. In addition to the compensation provided in Section 5 hereof, the Company agrees to pay the Executive a transaction
bonus of $750,000, payable in a lump sum on the first payroll period following the Effective Time.

 

7.       Expenses.
In addition to the compensation provided in Section 5 hereof, the Company will reimburse the Executive Chairman for reasonable
business related expenses incurred in good faith in the performance of the Executive Chairman’s duties for the Company. Such
payments shall be made by the Company in accordance with its normal policies for senior executives of the Company.

 

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8.       Restrictions
Respecting Confidential Information, Non-Solicitation and Non-Disparagement.

 

(a)       The
Executive hereby covenants and agrees that, for a period of one year following his service as a member of the Board of Directors
of the Company, he shall not, without the written consent of the Bank, either directly or indirectly:

 

(i)       solicit,
offer employment to, or take any other action intended (or that a reasonable person acting in like circumstances would expect)
to have the effect of causing any officer or employee of the Bank, the Company or any of their respective subsidiaries or affiliates
to terminate his or her employment and accept employment or become affiliated with, or provide services for compensation in any
capacity whatsoever to, any business whatsoever that competes with the business of the Bank or the Company or any of their direct
or indirect subsidiaries or affiliates or has headquarters or offices within the counties in which the Bank or the Company has
business operations or has filed an application for regulatory approval to establish an office; or

 

(ii)       solicit,
provide any information, advice or recommendation or take any other action intended (or that a reasonable person acting in like
circumstances would expect) to have the effect of causing any customer of the Bank or the Company to terminate an existing business
or commercial relationship with the Bank or the Company.

 

(b)       The
Executive Chairman agrees not to disparage or defame in any manner, whether directly or indirectly, the Company, the Bank, or their
affiliates, officers, directors, owners, representatives, employees, products or services, and the Company and the Bank agree not
to disparage or defame in any manner, whether directly or indirectly, the Executive Chairman, in each case at any time during the
Term or at any time following termination of service.

 

(c)       Unless
the Executive Chairman obtains prior written consent from the Bank or the Company, the Executive Chairman shall keep confidential
and shall refrain from using for the benefit of himself, or any person or entity other than the Bank, the Company or any entity
which is a subsidiary or affiliate of the Bank or the Company or of which the Bank or the Company is a subsidiary or affiliate,
any material document or information obtained from the Bank, the Company or from any of their respective parents, subsidiaries
or affiliates, in the course of his employment with any of them concerning their properties, operations or business (unless such
document or information is readily ascertainable from public or published information or trade sources or has otherwise been made
available to the public through no fault of his own) until the same ceases to be material (or becomes so ascertainable or available);
provided, however, that nothing in this Section 8(c) shall prevent the Executive Chairman, with or without the Bank’s or
the Company’s consent, from participating in or disclosing documents or information in connection with any judicial or administrative
investigation, inquiry or proceeding to the extent that such participation or disclosure is required under applicable law.

 

9.       Indemnification.
The Bank and/or the Company shall provide the Executive (including his heirs, executors and administrators) with coverage under
a standard directors’ and officers’ liability insurance policy at its expense, and shall indemnify the Executive (and
his heirs, executors and administrators) to the fullest extent permitted under applicable law against all expenses and liabilities
reasonably incurred by him in connection with or arising out of any action, suit or proceeding in which he may be involved by reason
of his having been an officer of the Bank and/or the Company (whether or not he continues to be an officer at the time of incurring
such expenses or liabilities), such expenses and liabilities to include, but not be limited to, judgments, court costs and attorneys’
fees and the cost of reasonable settlements (such settlements must be approved by the Board of Directors); provided, however, that
neither the Bank nor the Company shall be required to indemnify or reimburse the Executive for legal expenses or liabilities incurred
in connection with an action, suit or proceeding arising from any illegal or fraudulent act committed by the Executive. Any such
indemnification shall be made consistent with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. §1828(k), and
the regulations issued thereunder in 12 C.F.R. Part 359.

 

    3 

     

    

 

10.       Amendments;
Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed, in the case of an amendment,
by the Company and the Executive Chairman or, in the case of a waiver, by the party against whom enforcement of any such waiver
is sought; provided, however, that any such amendment or waiver shall be unanimously approved by the Board
of Directors. No waiver of any breach with respect to any provision, condition or requirement of this Agreement shall be deemed
to be a continuing waiver in the future or a waiver of any subsequent breach or a waiver of any other provision, condition or requirement
hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any
such right.

 

11.       Notices.
All notices, requests, demands and other communications provided in connection with this Agreement shall be in writing and shall
be deemed to have been duly given at the time when hand delivered, delivered by express courier, or sent by facsimile (with receipt
confirmed by the sender’s transmitting device) in accordance with the contact information provided on the signature page
hereto or such other contact information as the parties may have duly provided by notice.

 

12.       Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York,
without reference to conflicts of law principles, except to the extent governed by federal law in which case federal law shall
govern.

 

13.       Assignment.
The duties and obligations of the Executive Chairman under this Agreement are personal and therefore the Executive Chairman may
not assign or delegate any right or duty under this Agreement without the prior written consent of the Company.

 

14.       Headings;
Construction. The section headings contained in this Agreement are for reference purposes only and shall not affect in any
way the meaning or interpretation of this Agreement. The language used in this Agreement will be deemed to be the language chosen
by the parties to express their mutual intent, and no rules of strict construction will be applied against any party.

 

15.       No
Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other person or entity.

 

16.       Severability.
If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the
remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt
to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate
such substitute provision in this Agreement.

 

17.       Entire
Agreement. This Agreement contains the entire understanding and agreement of the parties, and supersedes any and all other
prior and/or contemporaneous understandings and agreements, either oral or in writing, between the parties hereto with respect
to the subject matter hereof. Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements,
oral or otherwise, have been made by either party, or anyone acting on behalf of either party, which are not embodied herein.

 

18.       Counterparts.
This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one instrument. Execution
and delivery of this Agreement by facsimile or other electronic signature is legal, valid and binding for all purposes.

  

[Signature Page Follows]

 

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IN WITNESS WHEREOF,
the parties hereto have caused this Executive Chairman and Separation Agreement to be duly executed and signed as of the day and
year first above written.

 

	 	DIME COMMUNITY BANCSHARES,
    INC. 
	 	 
	 	By:	
	 	 	Name: Rosemarie Chen
	 	 	Title: Director, Chairperson of the Compensation and HR Committee
	 	 
	 	KENNETH J. MAHON
	 	 
	 	By:	
	 	 	Kenneth J. Mahon

 

    5Exhibit 10.8 

 

[FORM OF]

AMENDMENT TO

 

THE EMPLOYMENT AGREEMENT FOR KEVIN SANTACROCE

 

Amendment, dated as
of October 9, 2020 (the “Amendment”), to the Employment Agreement, dated as of March 9, 2018 (the “Agreement”),
by and between Bridge Bancorp, Inc. (the “Company”), BNB Bank (the “Bank”), and Kevin Santacroce (the “Executive”).
Capitalized terms which are not defined herein shall have the same meaning as set forth in the Agreement.

 

W I T N E S S E T H:

 

WHEREAS, Executive
is presently the Executive Vice President and Chief Lending Officer of the Company and Bank and is a party to an employment agreement
with the Company and Bank, dated as of March 9, 2018 (the “Agreement”); and

 

WHEREAS, the
Company and Dime Community Bancshares, Inc., a Delaware corporation (“DCB”), have entered into an Agreement and Plan
of Merger, dated as of July 1, 2020 (the “Merger Agreement”), pursuant to which DCB shall merge with and into the Company,
with the Company as the surviving entity (the “Merger”); and

 

WHEREAS, in
connection with the Merger Agreement, the parties desire to enter into this Amendment in order to induce Executive to continue
employment with, and to provide further incentive for Executive to achieve the financial and performance objectives of, the Company
and the Bank; and

 

WHEREAS, pursuant
to the terms of the Merger Agreement, the name of Bridge Bancorp, Inc. will be changed to Dime Community Bancshares, Inc. and the
name of BNB Bank will be changed to Dime Community Bank; and accordingly, all references in the Agreement to Bridge Bancorp, Inc.
shall be replaced with Dime Community Bancshares, Inc. and all references in the Agreement to BNB Bank shall be replaced with Dime
Community Bank as of the date of the Merger (the “Effective Date”); and

 

WHEREAS, pursuant
to Section 16 of the Agreement, the parties to the Agreement may amend the Agreement and the Executive consents to this Amendment.

 

NOW, THEREFORE,
in consideration of the premises, the mutual agreements herein set forth and such other consideration the sufficiency of which
is hereby acknowledged, the Company, Bank and the Executive hereby agree as follows:

 

1.     Notwithstanding
anything to the contrary, as of the Effective Date, all references in the Agreement to “Executive Vice President and
Chief Lending Officer” are hereby amended and replaced with “Executive Vice President and Deputy Chief Lending
officer.”

 

     

     

    

 

 2.    Section 1(a) of the Agreement is hereby amended and restated to read as follows:

 

“(a)      Three
Year Contract; Annual Renewal. Commencing on the Effective Date, the term of this Agreement shall be for a period of
three (3) years (the “Employment Period”) and commencing on the first anniversary date of the Effective Date (the
 “Anniversary Date”) and continuing on each Anniversary Date thereafter, the term of this Agreement shall renew
for an additional year such that the remaining term of this Agreement is three (3) years unless the Company provides the
Executive written notice of non-renewal (“Non-Renewal Notice”) at least ninety (90) days before an Anniversary
Date. If a Non-Renewal Notice is timely delivered, this Agreement shall terminate at the end of the remaining
term.”

 

3.    
Notwithstanding anything to the contrary, as of the Effective Date, all references in the Agreement to “Base Salary”
shall be $425,000, as such amount may be increased from time to time (any increase in Base Salary shall become the new “Base
Salary” for purposes of the Agreement.)”

 

4.    
Section 3 of the Agreement is hereby amended to add Sections 3(d), 3(e) and 3(f) to read as follows:

 

“(d)
Annual Equity Grant. The Company shall make an equity compensation grant to the Executive on an annual basis in an amount
at least equal to thirty-five percent (35%) of Base Salary subject to terms and conditions, including, but not limited to terms
related to performance-based vesting, as shall be determined by the Compensation Committee of the Board (the “Committee”).

 

(e)       Annual
Cash Bonus. The Bank shall provide the Executive an annual cash bonus opportunity in an amount at least equal to forty-five
percent (45%) of Base Salary at target and with a maximum bonus opportunity of one hundred fifty percent (150%) of the target amount,
less required tax withholding, on an annual basis during the term of this Agreement (the “Annual Cash Bonus”), subject
to terms and conditions, including performance conditions, as shall be determined by the Committee. Each Annual Cash Bonus shall
be paid to the Executive as a single lump sum cash payment (less required withholding) as soon as practicable after the last day
of the applicable bonus period, but in no event later than March 15th of the calendar year following the year in which the last
day of the performance period occurs (or as soon as administratively practicable thereafter).

 

(f)       Perquisite
Allowance. The Executive shall be paid an annual allowance of $50,000 in the form of a cash payment, in lieu of any perquisites.”

 

5.     Notwithstanding
anything to the contrary, as of the Effective Date, all references in the Agreement to “Good Reason” shall be
determined with respect to the Executive’s title, responsibilities, Base Salary, and principal place of employment as
of the Effective Date. For purposes of clarity, Executive agrees that he has consented to the change in his title, duties and
responsibilities and to serving as Executive Vice President and Deputy Chief Lending Officer of the Company and the Bank as
of the Effective Date, and therefore there is not “Good Reason” for him to resign from employment and receive the
benefits and pay under Sections 7(b) or (c) of the Agreement as a result of the Merger.

 

     

     

    

 

6.    
The parties acknowledge that the Merger constitutes a Change in Control and, for purposes of clarity, the parties acknowledge
that if within the period ending two years after the date of the Merger, the Bank and/or the Company terminates the Executive’s
employment without Cause, or the Executive voluntarily terminates his employment with Good Reason, as such term is amended by this
Amendment, the Executive will be entitled to the Change in Control severance provided in Section 7(c) of the Agreement. In the
event the Executive elects the walkaway severance, as provided in Section 7(g) of the Agreement, as amended, and in order to avoid
a duplication of payments, he shall be entitled only to the walkaway severance.

 

 7.     Section 7 of the Agreement is hereby amended to add Section 7(g) to read as follows:

 

“(g)     Walkaway
Severance. The Executive may voluntarily resign from employment with the Bank and the Company for any reason (or no
reason) during a sixty (60) day window, commencing on the day after that date that is fifteen (15) months following the
Effective Time (the “First Day”) and ending on the day that is sixty (60) days following the First Day (the
 “Window Period”) (e.g., if the Effective Time occurs on January 15, 2021, the First Day will occur on April 16,
2022 and the Window Period will expire on June 14, 2022), and in such event: the Executive will be entitled to the Change in
Control severance provided in Section 7(c) of the Agreement (the “Severance”), subject to applicable withholding
taxes, less the value of any vesting of the grant of restricted stock awards (grant value of $350,000) awarded to the
Executive as of the Effective Time. Executive must provide written notice of his election to resign from employment under
this Section 7(g) (“Notice of Resignation”) to the Bank and the Company (delivered to the Chief Executive Officer
of the Company and the Bank, which notice may be by email), which notice must be received by the Company and the Bank during
the Window Period. The Executive’s resignation shall be effective upon receipt by the Company and the Bank of the
Notice of Resignation. The Severance shall be paid by the Company or the Bank within five (5) days following receipt of the
Notice of Resignation. Executive acknowledges that the non-competition restriction provided in Section 11 of this Amendment
shall apply in the event of Executive’s resignation under this Section 7(g).”

 

8.    
Sections 7(d) of the Agreement is hereby amended and restated to read as follows:

 

“(d)      Termination
due to Death or Disability. Notwithstanding anything in Sections 7(d) and 8(b)(i) of the Agreement to the contrary, in
the case of a termination of Executive’s employment due to death or disability, within the meaning of Code Section 409A
and the Treasury regulations thereunder (a “Disability”), the Executive (or beneficiary, as applicable) shall be
entitled to the following from the Bank: (a) benefits under any applicable short-term and/or long-term disability insurance
plan, (b) compensation and benefits owed but not paid as of the date of death or disability, (c) an amount equal to the
product of the most recent annual cash bonus multiplied by a fraction, with the numerator equal to the number of days in the
current fiscal year through the date of termination due to death or Disability and the denominator equal to 365, (c) any
unvested restricted stock awards subject to time-based vesting shall become fully and immediately vested, and the payment or
delivery of such awards or benefits shall be accelerated to the extent permitted by Section 409A or other applicable law and
the terms of such plan or arrangement, and (d) any unvested performance stock awards shall become fully and immediately
vested and pro-rated based on actual performance and if actual performance is not determinable, at target, and the payment or
delivery of such awards or benefits shall be accelerated to the extent permitted by Section 409A or other applicable law and
the terms of such plan or arrangement.”

 

     

     

    

 

 9.     Section 7 of the Agreement is hereby amended to add Section 7(h) to read as follows:

 

“(h)     
Release Agreement. Notwithstanding anything in this Agreement to the contrary, the payments and benefits under this Section
7, but excluding Section 7(c), shall be paid to Executive within ten (10) business days following the Event of Termination, or
if later, following the seventh (7th) day after Executive executes a release of his claims against the Company, Bank, its officers,
directors, successors and assigns, in a form satisfactory to the Company and the Bank (the “Release”). The Release
must be executed and become irrevocable by the 60th day following the Event of Termination, provided that if the 60-day period
spans two (2) calendar years, then, to the extent necessary to comply with Section 409A of the Code, the payments under Section
7 shall be paid, or commence, in the second calendar year. The payments due under Section 7 (other than the payments under Section
7(c)) are subject to Executive’s execution of the Release.”

 

10.    
Section 11(b) of the Agreement is hereby amended as follows:

 

“Notwithstanding anything
to the contrary in Section 11(b), as of the Effective Date, the reference to “has its main office, or a majority of its branch
offices, in Nassau and/or Suffolk Counties, New York” shall be replaced with “has its headquarters in the New York
counties of Nassau, Suffolk, Kings and Queens.”

 

 11.     The Agreement is hereby amended to add Section 18 to read as follows:

 

“Section
409A. It is the intention of the parties that the benefits and rights to which Executive could be entitled pursuant to the
Agreement be exempt from or comply with Section 409A, and the provisions of the Agreement shall be construed in a manner consistent
with that intent and the requirements for avoiding taxes or penalties under Section 409A. It is the intention of the parties that
the walkaway severance window, as added by this Amendment, comply with the “short term deferral period” (as defined
in Section 409A) exception to Section 409A.”

 

 12.     The Agreement is hereby amended to add Section 19 to read as follows:

 

“Tax
Matters. The Company, Bank and the Executive hereby recognize that: (i) the non-solicitation restriction and
non-competition restriction under Sections 11(a) and 11(b) have value, and (ii) the value shall be recognized in
any calculations the Company, Bank and the Executive perform with respect to determining the affect, if any, of the parachute
payment provisions of Section 280G of the Code (“Section 280G”), by allocating a portion of any payments,
benefits or distributions in the nature of compensation (within the meaning of Section 280G(b)(2)), including the payments
under Sections 7(c) and/or 7(g) of this Agreement, to the fair value of the non-solicitation and non-competition restriction
under Sections 11(a) and 11(b) of this Agreement (the “Appraised Value”). The Appraised Value will be
determined by a firm selected by the Company, with the consent of Executive, and the cost shall be paid by the Company. The
Appraised Value shall be considered reasonable compensation for post change in control services within the meaning of
Q&A-40 of the regulations under Section 280G; and accordingly, any aggregate parachute payments, as defined in Section
280G, will be reduced by the Appraised Value.”

 

     

     

    

 

13.    
 Continuation of Agreement. Except as expressly set forth herein, this Amendment shall not by implication or otherwise
alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Agreement,
all of which are ratified and affirmed in all respects and shall continue in full force and effect and shall be otherwise unaffected.

 

14.    
Governing Law. This Amendment and the rights and obligations hereunder shall be governed by and construed in accordance
with the laws of the State of New York.

 

15.    
Counterparts. This Amendment may be executed in any number of counterparts, each of which shall for all purposes
be deemed an original, and all of which together shall constitute but one and the same instrument.

 

16.    
Subject to Merger Agreement. Notwithstanding anything to the contrary contained herein, this Amendment shall be subject
to the consummation of the Merger, and shall become effective as of the Effective Time as defined in the Merger Agreement (which
for purposes of this Agreement shall be referred to as the “Effective Date”). In the event the Merger Agreement is
terminated for any reason, or in the event Executive fails to become an employee of the Company and the Bank as of the Effective
Date, this Amendment shall automatically terminate and become null and void.

 

     

     

    

 

IN WITNESS WHEREOF,
the Company, Bank and the Executive have duly executed this Amendment as of the day and year first written above.

 

	 	BRIDGE
    BANCORP, INC.
	 	 
	 	 
	 	By:	 
	 	 	Kevin M. O’Connor
	 	 	President and Chief Executive Officer
	 	 
	 	THE
    BRIDGEHAMPTON NATIONAL BANK
	 	 
	 	 
	 	By:	 
	 	 	Kevin M. O’Connor
	 	 	President and Chief Executive Officer
	 	 
	 	KEVIN
    L. SANTACROCE
	 	 
	 	 

 

[Signature Page to Amendment to Employment
Agreement]

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