Document:

Form of Incentive Stock Option Grant Agreement

 Exhibit 10.8 
 Carroll Bancorp, Inc. 2011 Stock Option Plan 
 Incentive Stock Option
Grant Agreement 
 This Incentive Stock Option Grant Agreement (the “Agreement”) is entered into on [INSERT DATE],
by and between Carroll Bancorp, Inc., a Maryland corporation (the “Corporation”), and [INSERT OPTIONEE NAME] (the “Optionee”), effective as of [INSERT GRANT DATE] (the “Grant Date”). 

In consideration of the premises, mutual covenants and agreements herein, the Corporation and the Optionee agree as follows: 

1. Grant of Options. The Corporation hereby grants to the Optionee, pursuant to the Carroll Bancorp, Inc. 2011 Stock Option
Plan (the “Plan”), a stock option to purchase from the Corporation, at a price of $[INSERT PRICE] per share (the “Exercise Price”), up to [INSERT GRANT AMOUNT] shares of Common Stock of the Corporation, $0.01 par value, subject
to the provisions of this Agreement and the Plan (the “Options”). The Options shall expire at 5:00 p.m. Eastern Time on the last business day preceding the tenth anniversary of the Grant Date or, if the Optionee is a Ten-Percent
Stockholder, as defined below, the fifth anniversary of the Grant Date (in either case, the “Expiration Date”), unless fully exercised or terminated earlier. 
 A “Ten-Percent Stockholder” means in individual who, at the time an Option is granted, owns, directly or indirectly, more than ten percent (10%) of the total combined voting power of all
classes of stock issued to stockholders of the Corporation or any Subsidiary Company. 
 2. Terminology. Unless
stated otherwise in this Agreement, capitalized terms in this Agreement shall have the meaning set forth in the Plan. 

3. Exercise of Options. 
 (a) Vesting. Subject to the terms of the Plan with respect to vesting, the Options granted shall vest in whole or in part, in accordance with the schedule attached hereto as Exhibit A,
provided that the Optionee is in the continuous employ of, or in a service relationship with, the Corporation from the date the option is granted through the applicable date upon which such Options become vested. The extent to which the
Options are vested as of a particular vesting date shall be rounded down to the nearest whole share. However, vesting is rounded up to the nearest whole share on the last vesting date. 

(b) Right to Exercise. The Optionee shall have the right to exercise the Options from and after the date upon which they vest and
on or before the Expiration Date or earlier termination of the Options; provided, that to the extent, if any, that the aggregate Fair Market Value of the Common Stock subject to the Options as of the Grant Date, plus the aggregate fair market value
(determined as of the date of grant) of all other 

 
stock with respect to which incentive stock options granted to the Optionee prior to the Grant Date under all plans of the Corporation and its parent and subsidiary corporations first become
exercisable during any calendar year exceeds $100,000 (the “Annual Limitation”), then except as otherwise provided in this Agreement the Options shall be exercisable during that year only to the extent, if any, that their exercisability
does not cause the Annual Limitation to be exceeded. Any Options that are not exercisable due to the proviso in the preceding sentence shall be exercisable during the next calendar year, subject again to the application of that proviso. To the
extent not exercised, the number of shares as to which the Options are exercisable shall accumulate and remain exercisable, in whole or in part, at any time after becoming exercisable, but not later than the Expiration Date or other termination of
the Options. To the extent not exercised, the number of shares as to which the Options are exercisable shall accumulate and remain exercisable, in whole or in part, at any time after becoming exercisable, but not later than the Expiration Date or
other termination of the Options. In the event of the Optionee’s termination of employment, the exercisability is governed by Section 4. 
 (c) Exercise Procedure. Subject to the conditions set forth in this Agreement, the Options shall be exercised (to the extent then exercisable) by delivery of written notice of exercise on any
business day to the Secretary of the Corporation in such form as the Committee may require from time to time. Such notice shall specify the number of shares in respect to which the Options are being exercised and shall be accompanied by full payment
of the Exercise Price for such shares in accordance with Section 3(e) of this Agreement. The exercise shall be effective upon receipt by the Secretary of the Corporation of such written notice accompanied by the required payment. The Options
may be exercised only in multiples of whole shares and may not be exercised at any one time as to fewer than one hundred shares (or such lesser number of shares as to which the Options are then exercisable). No fractional shares shall be issued
pursuant to the Options. 
 (d) Effect. The exercise, in whole or in part, of the Options shall cause a reduction
in the number of shares of Common Stock subject to the remaining Options equal to the number of shares of Common Stock with respect to which the Options are exercised. 
 (e) Method of Payment. Payment of the Exercise Price shall be by any of the following, or a combination thereof: 
 (i) by delivery of cash, certified or cashier’s check, or money order or other cash equivalent acceptable to Committee in its sole discretion; or 

(ii) by a broker-assisted cashless exercise in accordance with Regulation T of the Board of Governors of the Federal Reserve
System and the following provisions. Subject to such limitations as the Committee may determine, at any time during which the Common Stock is publicly traded on a national securities exchange, the Exercise Price shall be deemed to be paid, in whole
or in part, if the Optionee delivers a properly executed exercise notice, together with irrevocable instructions: (i) to a brokerage firm approved by the Corporation to deliver promptly to the Corporation the aggregate amount of sale or loan
proceeds to pay the Exercise Price and any withholding tax obligations that may arise in connection with the exercise; and (ii) to the Corporation to deliver the certificates for such purchased shares directly to such brokerage firm; or

  
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 (iii) as determined by the Committee or the Board in its discretion at the time of
exercise, by delivering shares of Common Stock (including shares acquired pursuant to the previous exercise of an option granted under the Plan) equal in fair market value to the purchase price of the shares to be acquired pursuant to the Option(s),
by withholding some of the shares of Common Stock which are being purchased upon exercise of an Option. The shares of Common Stock delivered to pay the purchase price must have either been (x) purchased in open market transactions or
(y) issued by the Corporation pursuant to a plan thereof more than six months prior to the exercise date of the Option. 

(f) Issuance of Shares Upon Exercise. Upon due exercise of the Options, in whole or in part, in accordance with the terms of
this Agreement, the Corporation shall issue to the Optionee, the brokerage firm specified in the Optionee’s delivery instructions pursuant to a broker-assisted cashless exercise, or such other person exercising the Options, as the case may be,
the number of shares of Common Stock so paid for, in the form of fully paid and non-assessable stock and shall deliver certificates therefore or issue such shares in certificateless form as soon as practicable thereafter. 

(g) Restrictions on Exercise and Upon Shares Issued upon Exercise. Notwithstanding any other provision of the Agreement, the
Options may not be exercised at any time that the Corporation does not have in effect a registration statement under the Securities Act of 1933, as amended, relating to the offer of Common Stock to the Optionee under the Plan, unless the Corporation
agrees to permit such exercise. Upon the issuance of any shares of Common Stock pursuant to the exercise of the Options, the Optionee will, upon the request of the Corporation, agree in writing that the Optionee is acquiring such shares for
investment only and not with a view to resale, and that the Optionee will not sell, pledge or otherwise dispose of such shares so issued unless: (i) the Corporation is furnished with an opinion of counsel to the effect that registration of such
shares pursuant to the Securities Act of 1933, as amended, is not required by that Act or by the rules and regulations thereunder; (ii) the staff of the Securities and Exchange Commission has issued a “no-action” letter with respect
to such disposition; or (iii) such registration or notification as is, in the opinion of counsel for the Corporation, required for the lawful disposition of such shares has been filed by the Corporation and has become effective; provided,
however, that the Corporation is not obligated hereby to file any such registration or notification. The Corporation may place a legend embodying such restrictions on the certificates evidencing such shares. 

4. Termination of Employment or Service. 
 (a) Exercise Period Following Cessation of Employment or Other Service Relationship, In General. If the Optionee ceases to be employed by, or in a service relationship with, the Bank for any reason
other than death, Disability, Retirement, discharge for misconduct or cause or in connection with a Change in Control, (i) the unvested Options shall terminate immediately upon such cessation, and (ii) any vested

  
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Options shall remain exercisable during the six-month period following such cessation, but in no event beyond the earlier of (i) ten years from the date it was granted or (ii) if the
Optionee is a Ten-Percent Stockholder, the original expiration date of the Option. Unless sooner terminated, any unexercised vested Options shall terminate upon the expiration of such six-month period. 

(b) Death of Optionee. The Options shall become vested and exercisable in full on the date the Optionee’s employment
terminates because of Optionee’s death. If the Optionee dies while in the employ of the Corporation or a Subsidiary Company or terminates employment with the Corporation or a Subsidiary Company as a result of Disability or Retirement and dies
without having fully exercised his/her Options, the executors, administrators, legatees or distributees of his/her estate shall have the right, during the one-year period following the Optionee’s death, to exercise such Options, but in no event
after the Expiration Date. 
 (c) Disability of Optionee; Retirement. The Options shall become vested and exercisable in
full on the date the Optionee terminates his/her employment with the Corporation or a Subsidiary Company because of his/her Disability (provided, however, no such accelerated vesting shall occur if a Recipient remains employed by at least one member
of the Employer Group). 
 If the Optionee terminates his/her employment with the Corporation or a Subsidiary Company as a
result of Disability or Retirement without having fully exercised the Options, the Optionee shall have the right, during the three- year period following such termination due to Disability or Retirement, to exercise the Options. In no event,
however, shall any Options be exercisable beyond the earlier of (i) ten years from the date it was granted or (ii) if the Optionee is a Ten-Percent Stockholder, the original expiration date of the Option. 

(d) Misconduct; Removal for Cause. Notwithstanding anything to the contrary in this Agreement, if the Optionee is discharged for
cause as set forth in Section 4.03 of the Plan, any Options not vested on the date of discharge shall terminate as of the date of discharge unless otherwise determined by the Committee. 

(e) Change in Control. The Options shall become vested and exercisable in full as of the effective date of a Change in Control.
If the Optionee terminates his/her employment with the Corporation or a Subsidiary Company following a Change in Control of the Corporation without having fully exercised the Options the Optionee shall have the right to exercise the Options during
the remainder of the original ten-year term of the Option from the date of grant. 
 5. Adjustments and Business
Combinations. 
 (a) General. The number of shares to which the Options relate shall be proportionately
adjusted for any increase or decrease in the total number of outstanding shares of Common Stock issued subsequent to the effective date of the Plan resulting from a split, subdivision or consolidation of shares or any other capital adjustment, the
payment of a stock dividend, or other increase or decrease in such shares effected without receipt or payment of consideration by the Corporation. 

  
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 (b) Adjustment for Mergers and Other Corporate Transactions. If, upon a merger,
consolidation, reorganization, liquidation, recapitalization or the like of the Corporation, the shares of the Corporation’s Common Stock shall be exchanged for other securities of the Corporation or of another corporation, each Option shall be
converted, subject to the conditions stated herein and in the Plan, into the right to purchase or acquire such number of shares of Common Stock or amount of other securities of the Corporation or such other corporation as were exchangeable for the
number of shares of Common Stock of the Corporation which Optionee would have been entitled to purchase or acquire except for such action, and appropriate adjustments shall be made to the per share exercise price of outstanding Options,
provided that in each case the number of shares or other securities subject to the substituted or assumed stock option and the exercise price thereof shall be determined in a manner that satisfies the requirements of Treasury Regulation
§1.424-1 and the regulations issued under Section 409A of the Code so that the substituted or assumed option is not deemed to be a modification of the outstanding Options. Notwithstanding any provision to the contrary herein, the term of
any Option granted hereunder and the property which Optionee shall receive upon the exercise or termination thereof shall be subject to and be governed by the provisions regarding the treatment of any such Options set forth in a definitive agreement
with respect to any of the aforementioned transactions entered into by the Corporation to the extent any such Option remains outstanding and unexercised upon consummation of the transactions contemplated by such definitive agreement. 

(d) Binding Nature of Adjustments. Adjustments under this Section 5 will be made by the Committee, whose determination
as to what adjustments, if any, will be made and the extent thereof will be final, binding and conclusive. No fractional shares will be issued pursuant to the Options on account of any such adjustments. 

6. Non-Guarantee of Employment. Nothing in the Plan or in this Agreement shall confer on an individual any legal or equitable
right against the Corporation or the Committee, except as expressly provided in the Plan or this Agreement. Nothing in the Plan or in this Agreement shall: (a) constitute an inducement, consideration, or a contract for employment or service
between an individual and the Corporation or the Bank; (b) confer any right on an individual to continue in the service of the Corporation or the Bank; or (c) interfere in any way with the right of the Corporation or the Bank to terminate
such service at any time with or without cause or notice, or to increase or decrease compensation for such service. 

7. No Rights as Stockholder. The Optionee shall not have any of the rights of a stockholder with respect to the shares of
Common Stock that may be issued upon the exercise of the Options (including, without limitation, any rights to receive dividends or noncash distributions with respect to such shares) until such shares of Common Stock have been issued to him or her
upon the due exercise of the Options. No adjustment shall be made for dividends or distributions or other rights for which the record date is prior to the date such certificate or certificates are issued. 

  
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 8. Incentive/Nonqualified Nature of the Options. The Options are intended to
qualify as an incentive stock option within the meaning of Section 422A of the Code to the extent set forth herein, and this Agreement shall be so construed; provided, however, to the extent that the aggregate Fair Market Value as of the date
of this grant, of the shares into which the Options become exercisable for the first time by the Optionee during any calendar year exceeds $100,000, the portion of the Options which are in excess of the $100,000 limitation will be treated as a
nonqualified stock option. 
 9. Withholding of Taxes. 

(a) In General. At the time the Options are exercised in whole or in part, or at any time thereafter as requested by the
Corporation, the Optionee hereby authorizes withholding from payroll or any other payment of any kind due the Optionee and otherwise agrees to make adequate provision for foreign, federal, state and local taxes required by law to be withheld, if
any, which arise in connection with the Options. The Corporation may require the Optionee to make a cash payment to cover any withholding tax obligation as a condition of exercise of the Options. If the Optionee does not make such payment when
requested, the Corporation may refuse to issue any stock certificate under the Plan until arrangements satisfactory to the Committee for such payment have been made. 
 (b) Means of Payment. The Committee may, in its sole discretion, permit the Optionee to satisfy, in whole or in part, any withholding tax obligation which may arise in connection with the
Options by any of the following means or by a combination of such means: (i) tendering a cash payment; (ii) authorizing the Corporation to deduct any such tax obligations from any payment of any kind otherwise due to the Optionee;
(iii) authorizing the Corporation to withhold shares of Common Stock otherwise issuable to the Optionee pursuant to the exercise of the Options; or (iv) delivering to the Corporation unencumbered shares of Common Stock already owned by the
Optionee. 
 (c) Disposition of Shares. The acceptance of shares of Common Stock upon exercise of the Options shall
constitute an agreement by the Optionee (i) to notify the Corporation if any of such shares are disposed of by the Optionee within two years from the Grant Date or within one year from the date the shares were issued to the Optionee pursuant to
the exercise of the Options, and (ii) if required by law, to remit to the Corporation, at the time of any such disposition, an amount sufficient to satisfy the Corporation’s withholding tax obligations with respect to such disposition,
whether or not, as to both (i) and (ii), the Optionee is employed by or has any other relationship with the Corporation at the time of such disposition. 
 10. Regulatory Compliance; Forfeiture. Subject to the terms of the Plan, the grant of Options made hereby are subject to applicable rules, policies and regulations promulgated by regulatory bodies
(“Regulators”) with jurisdiction over the Corporation and its Subsidiary Companies. In accordance with such policies and regulations, the Options granted hereby may be required by Regulators to be exercised or forfeited in the event the
Corporation or its Subsidiary Companies, including the Bank, does not maintain certain capital levels or as otherwise ordered or directed by the Regulators. 

  
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 11. The Corporation’s Rights. The existence of the Options shall not affect
in any way the right or power of the Corporation or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Corporation’s capital structure or its business, or any merger or
consolidation of the Corporation, or any issue of bonds, debentures, preferred or other stocks with preference ahead of or convertible into, or otherwise affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the
Corporation, or any sale or transfer of all or any part of the Corporation’s assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

12. Optionee. Whenever the word “Optionee” is used in any provision of this Agreement under circumstances where the
provision should logically be construed, as determined by the Committee, to apply to the estate, personal representative or beneficiary to whom the Options may be transferred by will, by the laws of descent and distribution, or pursuant to a
transfer under Section 8.05 of the Plan as set forth in Section 13 hereof , the word “Optionee” shall be deemed to include such person. 
 13. Transferability of Options. The Options are not transferable other than by will or the laws of descent and distribution. During the lifetime of the Optionee, the Options may be exercised
only by the Optionee, or, during the period the Optionee is under a legal disability, by the Optionee’s guardian or legal representative. Except as provided above, the Options may not be assigned, transferred, pledged, hypothecated or disposed
of in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. 

14. Notices. All notices and other communications made or given pursuant to this Agreement shall be in writing and shall be
sufficiently made or given if hand delivered or mailed by certified mail, addressed to the Optionee at the address contained in the records of the Corporation, or addressed to
                    , care of the Corporation for the attention of its Secretary at its principal office or, if the receiving party consents in
advance, transmitted and received via telecopy or via such other electronic transmission mechanism as may be available to the parties. 
 15. Entire Agreement. This Agreement and the Plan contain the entire agreement between the parties with respect to the Options granted hereunder. Any oral or written agreements,
representations, warranties, written inducements, or other communications made prior to the execution of this Agreement with respect to the Options granted hereunder shall be void and ineffective for all purposes. 

16. Amendment. This Agreement may not be modified, except as provided in the Plan or in a written document signed by each of
the parties hereto. 
 17. Conformity with Plan. This Agreement is intended to conform in all respects with, and is
subject to all applicable provisions of, the Plan, which is incorporated herein by reference. Inconsistencies between this Agreement and the Plan shall be resolved in accordance with the terms of the Plan. In the event of any ambiguity in this
Agreement or any matters as to which this Agreement is silent, the Plan shall govern. A copy of the Plan is available upon request to the Administrator. 

  
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 18. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Maryland, other than the conflict of laws principles thereof. 

19. Headings. The headings in this Agreement are for reference purposes only and shall not affect the meaning or
interpretation of this Agreement. 
 [SIGNATURES APPEAR ON THE
FOLLOWING PAGE.] 

  
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 IN WITNESS WHEREOF, the Corporation has caused this Agreement to be executed by its duly
authorized officer as of the date first above written. 
  

					
		 	Carroll Bancorp, Inc.
			
		 	By:	 	  

					
		 	Print Name:	 	  

					
		 	Title:	 	  

 The undersigned hereby acknowledges that he/she has carefully read this Agreement and the Plan and agrees to be bound by
all of the provisions set forth in such documents. 
  

					
		 	OPTIONEE:
		
	DATE:                     	 	  

		 	Print Name:	 	  

  
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 EXERCISE FORM 
 Carroll Bancorp, Inc. 
 1321 Liberty Road 
 Sykesville, MD 21784 
 Gentlemen: 

I hereby exercise, to the extent indicated below, the Options granted to me on
                    , by Carroll Bancorp, Inc. (the “Company”), subject to all the terms and provisions thereof and of the Carroll Bancorp,
Inc. 2011 Stock Option Plan (the “Plan”), and notify you of my desire to purchase          incentive shares and          non-qualified shares of Common Stock
of the Corporation at a price of $             per share pursuant to the exercise of said Options. 
  

			
	Payment Amount: $                     	  	
		
	Date:                     	  	  

		  	Optionee Signature
		
		  	Received by Carroll Bancorp, Inc. on
		
		  	  

			
	 Broker Information:

	  
 Firm
Name

	  
 Contact Person

 

	  
 Broker Address

 

	  
 City, State, Zip Code

 
  
	 	  
 Phone Number

 
  

	  

	  
 Broker Account Number

 

	  
 Electronic Transfer Number:Baltimore County Savings Bank Supplemental Executive Retirement Plan

 Exhibit 10.1 
 BALTIMORE COUNTY SAVINGS BANK 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 (as amended and restated) 
 ARTICLE 1 
 DEFINITIONS 

The following words and phrases used in this Plan have the meanings specified: 

“Accrual Balance” means, as of any date, the liability that should be accrued by the Bank under generally accepted
accounting principles (“GAAP”) to reflect the Bank’s obligation to the Participants who participate in the Plan, without regard to whether such amount is actually accrued as of such date. 

“Actuarial (Actuarially) Equivalent” means a benefit of equivalent value to the normal form of benefit determined by
generally accepted actuarial principles. An actuarially equivalent lump sum shall be calculated using discount rate of four percent (4%). 
 “Bank” means Baltimore County Savings Bank, Baltimore, Maryland. 

“Beneficiary” means each designated person, or the estate of the deceased Participant, entitled to benefits, if any,
upon the death of the Participant, determined according to Article 4 of this Plan. 
 “Benefit Percentage”
means 50% percent of the Participant’s Final Pay. 
 “Change in Control” shall mean a change in
ownership, change in effective control or change in ownership of a substantial portion of assets, as defined in Code Section 409A and rules, regulations, and guidance of general application thereunder issued by the Department of the Treasury.

 “Code” means the Internal Revenue Code of 1986, as amended, and rules, regulations, and guidance of general
application issued thereunder by the Department of the Treasury. 
 “Disability” means that either the carrier
of a Bank-provided individual or group long-term disability insurance policy covering the Participant or the Social Security Administration has determined that the Participant is disabled. Upon the request of the Bank, the Participant must submit
proof of the carrier’s or the Social Security Administration’s determination. 
 “Early Retirement
Benefit” means the benefit provided for under Section 2.2 of the Plan. 
 “Early Termination”
means Separation from Service before Normal Retirement Age for reasons other than Disability death, Termination for Cause, or after a Change in Control. 
 “Effective Date” means January 1, 2010. This Plan document reflects an amendment and restatement of the original plan document and the amendment adopted as of June 14, 2011.

 “Final Pay” means the Participant’s average rate of annual base salary for the three (3) calendar
years ending prior to the effective date of the Participant’s termination of employment that results in the highest average rate of annual base salary. 

“Normal Retirement Age” means the Participant’s 65th birthday. 

 “Participant” means an individual who is a select group of management or
highly compensated employees and is designated by the Board of Directors of the Bank to participate in the Plan. All Participants shall be listed on Appendix A to the Plan. 
 “Plan” means this Baltimore County Savings Bank Supplemental Executive Retirement Plan. 
 “Plan Administrator” or “Administrator” means the plan administrator described in Article 8 of the Plan. 

“Separation from Service” means the Participant’s service (as a Participant and/or independent contractor to the
Bank and any member of a controlled group, as defined in Code Section 414), terminates for any reason, other than because of a leave of absence approved by the Bank or the Participant’s death. 

“Termination for Cause” and “Cause” shall mean the Participant’s involuntary termination of
employment by the Bank following the occurrence of any of the following: 
  

	 	(1)	Personal dishonesty; 

  

	 	(2)	Incompetence; 

  

	 	(3)	Willful misconduct; 

  

	 	(4)	Breach of fiduciary duty involving personal profit; 

  

	 	(5)	Intentional failure to perform stated duties; or 

  

	 	(6)	Willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order. 

 

	 	(7)	For purposes of this Plan, the term “incompetence” means the Participant’s demonstrated lack of ability to perform the duties assigned to him/her, which
lack of ability directly causes material injury to the Bank. In determining incompetence, the acts or omissions shall be measured against standards generally prevailing in the savings institution industry. For purposes of this paragraph, no act or
failure to act on the part of the Participants shall be considered “willful” unless done, or omitted to be done, by the Participant not in good faith and without reasonable belief that the Participant’s action or omission was in the
best interest of the Bank. 

 ARTICLE 2 

BENEFITS 

2.1 Normal Retirement Benefit. Unless a Change in Control occurs before Normal Retirement Age, upon Participant’s
Separation from Service on or after attaining Normal Retirement Age, the Bank shall pay to the Participant the benefit described in this Section 2.1 instead of any other benefit under this Plan. 

(a) Amount of Normal Retirement Benefit. The Participant’s annual benefit upon Normal Retirement equals the
product of the Participant’s Benefit Percentage and his/her Final Pay. 
 (b) Payment of Benefit.
Subject to Sections 2.6 and 3.1 of the Plan, the Bank shall pay the annual benefit to the Participant in monthly installments beginning on the first business day of the first calendar quarter beginning after the Participant’s Separation from
Service. The Normal Retirement benefit, as provided in this Section 2.1, shall be paid to the Participant (or in the event of the Participant’s death, to the Participant’s Beneficiary) for a period of fifteen (15) years (i.e.,
for a total of 180 monthly payments). 

  
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 (c) Alternative Form of Payment. Subject to Section 2.6, a
Participant may elect to receive his/her Normal Retirement benefit payable under this Plan in an Actuarially Equivalent lump sum on the first business day of the first calendar quarter after the Participant’s Separation from Service, provided
the Participant elects to do so upon his/her initial designation as a Participant or as otherwise permitted by Code Section 409A. 
 2.2 Early Retirement Benefit. Upon Early Termination, the Bank shall pay to the Participant the benefit described in this Section 2.2 instead of any other benefit under this Plan;
provided that the Early Termination occurs on or after the date the Participant attains age fifty-five (55) and has participated in the Plan for eight (8) calendar years. A Participant who terminates employment prior to attaining age
fifty-five (55) and participating in the Plan for eight (8) calendar years shall not be eligible for any benefit under this Section 2.2, but will still be eligible for a benefit under Section 2.3 of the Plan. 

(a) Amount of Early Retirement Benefit. The Participant’s annual Early Retirement Benefit equals (i) the
product of the Participant’s Benefit Percentage and his/her Final Pay reduced by the product of (ii) 65 less the age of the Participant at his/her termination of employment multiplied by two percent (2%). 

(b) Payment of Benefit. Subject to Sections 2.6 and 3.1 of the Plan, the Bank shall pay the annual benefit to the
Participant in monthly installments beginning on the first business day of the first calendar quarter beginning after the Participant’s Separation from Service. The Early Retirement Benefit as provided in this Section 2.2 shall be paid to
the Participant (or in the event of the Participant’s death, to the Participant’s Beneficiary) for a period of fifteen (15) years (i.e., for a total of 180 monthly payments). 

(c) Alternative Form of Benefit. Subject to Section 2.6, a Participant may elect to receive his/her Early
Retirement Benefit payable under this Plan in an Actuarially Equivalent lump sum on the first business day of the first calendar quarter after the Participant’s Separation from Service, provided the Participant elects to do so upon his/her
initial designation as a Participant or as otherwise permitted by Code Section 409A. 
 2.3 Early Termination
Benefit. Upon Early Termination prior to the Participant attaining age fifty-five (55) and participating in the Plan for eight (8) years, the Bank shall pay to the Participant the benefit described in this Section 2.3.

 (a) Amount of Early Termination Benefit: The Participant’s annual Early Termination benefit under
this Section 2.3 equals the Accrual Balance with respect to the Participant. 
 (b) Payment of
Benefit: Subject to Sections 2.6 and 3.1 of the Plan, the Bank shall pay the benefit to the Participant in approximately equal monthly installments beginning on the first business day of the first calendar quarter beginning after the
Participant’s Separation from Service. The Early Termination benefit as provided in this Section 2.3 shall be paid to the Participant (or in the event of the Participant’s death, to the Participant’s Beneficiary) for a period of
fifteen (15) years (i.e., for a total of 180 monthly payments). 
 (c) Alternative Form of Benefit:
Subject to Section 2.6, a Participant may elect to receive his/her Early Termination benefit payable under this Plan in an unreduced lump sum on the first business day of the first calendar quarter after the Participant’s Separation from
Service, provided the Participant elects to do so upon his/her initial designation as a Participant or as otherwise permitted by Code Section 409A. 

  
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 2.4 Change in Control Benefit. If a Change in Control occurs after the
effective date of a Participant’s participation in the Plan but before the Participant’s Normal Retirement Age and before his/her Separation from Service, the Bank shall pay to the Participant the benefit described in this Section 2.4
instead of any other benefit under this Plan. 
 (a) Amount of Change in Control Benefit: The benefit
under this Section 2.4 equals to the Normal Retirement benefit under Section 2.1 (determined without regard to the Participant’s age or period of participation as of the Change in Control effective date). 

(b) Payment of Benefit: The Bank shall pay the Change in Control benefit under this Section 2.4 to the
Participant in a lump sum that is the Actuarially Equivalent to the Participant’s benefit calculated under Section 2.1 of the Plan (assuming the Change in Control effective date occurred at the Participant’s Normal Retirement Age).
The Bank (or its successor) shall make the payment within ten (10) days after the Change in Control. If the Participant receives the benefit under this Section 2.4 because of the occurrence of a Change in Control, the Participant shall not
be entitled to claim additional benefits under Section 2.4 if an additional Change in Control occurs thereafter. 
 2.5
Disability Benefit. Upon a Separation from Service prior to the Participant’s Normal Retirement Age due to Disability, the Bank shall pay the benefit described in this Section 2.5 in lieu of any other benefit under the Plan.

 (a) Amount of Disability Benefit. The Participant’s benefit under Section 2.5 equals the
Accrual Balance less any amount covered by a separate disability insurance policy (excluding any short-term or long-term disability program sponsored by the Bank) not to exceed an amount equal to the Actuarial Equivalent lump sum of the product of
the Participant’s benefit percentage multiplied by his/her Final Pay paid for fifteen (15) years. 

(b) Payment of Benefit. Subject to Section 2.6 of the Plan, the Bank shall pay the benefit to the Participant
in a single lump sum on the first business day of the first calendar quarter beginning after the later of the date the benefit from the disability policy is received or the date of disability if not insured. 

2.6 Savings Clause Relating to Compliance with Code Section 409A. Despite any contrary provision of this Plan, if, at
the time of the Participant’s Separation from Service, the Participant is a “specified employee,” as defined in Code Section 409A, and if any payments under Article 2 of this Plan will result in additional tax or interest to the
Participant because of Code Section 409A, the Participant will not be entitled to the payments under Article 2 until the earliest of: 
 (i) the date that is at least six (6) months after termination of the Participant’s employment for reasons other than the Participant’s death, or 

(ii) the date of the Participant’s death, or 

(iii) any earlier date that does not result in additional tax or interest to the Participant under Code Section 409A.

  
 4 

 If any provision of this Plan would subject the Participant to additional tax or interest
under Code Section 409A or result in a violation of Code Section 409A, the Bank shall reform such provision. However, the Bank shall maintain to the maximum extent practicable the original intent of the applicable provision without
subjecting the Participant to additional tax or interest, and the Bank shall not be required to incur any additional compensation expense as a result of the reformed provision. References in this Plan to Code Section 409A include rules,
regulations, and guidance of general application issued by the Department of the Treasury under Code Section 409A. 
 2.7
One Benefit Only. Despite anything to the contrary in this Plan, the Participant and/or his/her Beneficiary are entitled to one benefit only under this Plan, which shall be determined by the first event to occur that is dealt with by
this Plan. 
 ARTICLE 3 
 DEATH BENEFITS 
 3.1 Death During Active Service. If the
Participant dies before a Separation from Service, at the Participant’s death the Participant’s Beneficiary shall be entitled to the Accrual Balance less the benefit described in an Endorsement Split Dollar Agreement entered into with the
Participant. If the Participant is not a party to an Endorsement Split Dollar Agreement at the time of his/her death, the Bank shall, as soon as practicable following his/her death, pay the Participant’s Beneficiary a lump sum amount equal to
the Accrual Balance. 
 3.2 Death after Separation from Service. If the Participant dies after a Separation from
Service but prior to the time all payments have been made under the Plan, the remaining payments shall be made to the Participant’s Beneficiary as soon as practicable in an Actuarial Equivalent lump sum. 

ARTICLE 4 

BENEFICIARIES 
 4.1 Beneficiary Designations. A Participant shall have the right to designate at any time a Beneficiary to receive any benefits payable under this Plan upon the death of the Participant. The
Beneficiary designated under this Plan may be the same as, or different from, the beneficiary designation under any other benefit plan of the Bank in which the Participant participates. 

4.2 Beneficiary Designation: Change. The Participant shall designate a Beneficiary by completing and signing the
Beneficiary Designation Form and delivering it to the Plan Administrator or its designated agent. The Participant’s Beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Participant or if the
Participant names a spouse as Beneficiary and the marriage is subsequently dissolved. The Participant shall have the right to change a Beneficiary by completing, signing, and otherwise complying with the terms of the Beneficiary Designation Form and
the Plan Administrator’s rules and procedures, as in effect from time to time. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan
Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Participant and accepted by the Plan Administrator before the Participant’s death. 

4.3 Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received, accepted,
and acknowledged in writing by the Plan Administrator or its designated agent. 
 4.4 No Beneficiary Designation.
If the Participant dies without a valid beneficiary designation, or if all designated Beneficiaries predecease the Participant, then the Participant’s spouse shall be the designated Beneficiary. If the Participant has no surviving spouse, the
benefits shall be made to the personal representative of the Participant’s estate. 

  
 5 

 4.5 Facility of Payment. If a benefit is payable to a minor, to a person
declared incapacitated, or to a person incapable of handling the disposition of his/her property, the Bank may pay such benefit to the guardian, legal representative, or person having the care or custody of the minor, incapacitated person, or
incapable person. The Bank may require proof of incapacity, minority, or guardianship as it may deem appropriate before distribution of the benefit. Distribution shall completely discharge the Bank from all liability for the benefit. 

ARTICLE 5 

GENERAL LIMITATIONS 
 5.1 Termination for Cause. Despite any contrary provision of this Plan, the Bank shall not pay any benefit under this Plan to a Participant if the Participant’s Separation from Service
is the result of the Participant’s Termination for Cause. 
 5.2 Removal. If the Participant is removed from
office or permanently prohibited from participating in the Bank’s affairs by an order issued under Section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. 1818(e)(4) or (g)(1), all obligations of the Bank under this Plan
shall terminate as to the Participant as of the effective date of the order. 
 5.3 Default. Notwithstanding any
provision of this Plan to the contrary, if the Bank is in “default” or “in danger of default,” as those terms are defined in Section 3(x) of the Federal Deposit Insurance Act, 12 U.S.C. 1813(x), all obligations under this
Plan shall terminate. 
 5.4 Regulatory Provisions. Any payments contemplated pursuant to this Agreement, are
subject to, and conditional upon, their compliance with 12 U.S.C. Section 1828(k) and FDIC Regulation 12 C.F.R. Part 359, Golden Parachute and Indemnification Payments. 
 5.5 TARP. To the extent that the Bank or any Participant is subject to restrictions imposed on institutions and certain employees of institutions receiving financial assistance from the
Federal government under the Troubled Assets Relief Program (TARP), the Bank will not pay or accrue any benefit under this Plan if the payment or accrual would violate any law or regulation applicable to such institutions or individuals. 

ARTICLE 6 

CLAIMS AND REVIEW PROCEDURES 
 6.1 Claims Procedure. A person or beneficiary (“claimant”) who has not received benefits under this Plan that he or she believes should be paid may make a claim for such benefits
as follows: 
 (a) Initiation - Written Claim. The claimant initiates a claim by submitting to the
Administrator a written claim for the benefits. If the claim relates to the contents of a notice received by the claimant, the claim must be made within 60 days after the notice was received by the claimant. All other claims must be made within 180
days after the date of the event that caused the claim to arise. The claim must state with particularity the determination desired by the claimant. 

  
 6 

 (b) Timing of Bank Response. The Bank shall respond to the claimant
within 90 days after receiving the claim. If the Bank determines that special circumstances require additional time for processing the claim, the Bank may extend the response period by an additional 90 days by notifying the claimant in writing
before the end of the initial 90-day period that an additional period is required. The notice of extension must state the special circumstances and the date by which the Bank expects to render its decision. 

(c) Notice of Decision. If the Bank denies part or all of the claim, the Bank shall notify the claimant in writing
of the denial. The Bank shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth: 
 (i) the specific reasons for the denial, 
 (ii) a reference to the
specific provisions of the Plan on which the denial is based, 
 (iii) a description of any additional
information or material necessary for the claimant to perfect the claim and an explanation of why it is needed, 

(iv) an explanation of the Plan’s review procedures and the time limits applicable to such procedures, and

 (v) a statement of the claimant’s right to bring a civil action under ERISA Section 502(a)
following an adverse benefit determination on review. 
 6.2 Review Procedure. If the Bank denies part or all of
the claim, the claimant shall have the opportunity for a full and fair review by the Bank of the denial, as follows: 
 (a) Initiation - Written Request. To initiate the review, the claimant, within 60 days after receiving the Bank’s notice of denial, must file with the Bank a written request for review.

 (b) Additional Submissions - Information Access. The claimant shall then have the opportunity to submit
written comments, documents, records, and other information relating to the claim. The Bank shall also provide the claimant, upon request and free of charge, reasonable access to and copies of all documents, records, and other information relevant
(as defined in applicable ERISA regulations) to the claimant’s claim for benefits. 
 (c) Considerations
on Review. In considering the review, the Bank shall take into account all materials and information the claimant submits relating to the claim, without regard to whether the information was submitted or considered in the initial benefit
determination. 
 (d) Timing of Bank Response. The Bank shall respond in writing to the claimant within 60
days after receiving the request for review. If the Bank determines that special circumstances require additional time for processing the claim, the Bank may extend the response period by an additional 60 days by notifying the claimant in writing
before the end of the initial 60-day period that an additional period is required. The notice of extension must state the special circumstances and the date by which the Bank expects to render its decision. 

  
 7 

 (e) Notice of Decision. The Bank shall notify the claimant in writing
of its decision on review. The Bank shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth: 
 (i) the specific reason for the denial, 
 (ii) a reference to the
specific provisions of the Plan on which the denial is based, 
 (iii) a statement that the claimant is entitled
to receive, upon request and free of charge, reasonable access to and copies of all documents, records, and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits, and 

(iv) a statement of the claimant’s right to bring a civil action under ERISA Section 502(a). 

6.3 Reimbursement of Expenses. If the claimant prevails at the conclusion of the claims and review procedure outlined in
this Article 6, including any civil action brought by the claimant under ERISA Section 502(a), the Bank shall reimburse the claimant for all legal expenses incurred by the claimant in the claims and review procedure. 

ARTICLE 7 

MISCELLANEOUS 
 7.1 Amendments and Termination. This Plan may not be amended or terminated by the Bank without the prior written consent of an affected Participant. 

7.2 Binding Effect. This Plan shall bind each participating Participant, the Bank, and their Beneficiaries, survivors,
executors, successors, administrators, and transferees. 
 7.3 No Guarantee of Employment. This Plan is not an
employment policy or contract. It does not guarantee any Participant the right to remain an employee of the Bank nor does it interfere with the Bank’s right to discharge the Participant. It also does not require the Participant to remain an
employee or interfere with the Participant’s right to terminate employment at any time. 
 7.4
Non-Transferability. Benefits under this Plan cannot be sold, transferred, assigned, pledged, attached, or encumbered in any manner. 
 7.5 Successors. The Bank shall require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the business or assets of
the Bank to expressly assume this Plan in the same manner and to the same extent that the Bank would be required to perform under this Plan if no such succession had occurred. 
 7.6 Tax Withholding. The Bank shall withhold any taxes that are required to be withheld from the benefits provided under this Plan. 

7.7 Applicable Law. This Plan and all rights hereunder shall be governed by the laws of the state of Maryland, except to
the extent preempted by the laws of the United States of America. 

  
 8 

 7.8 Unfunded Arrangement. The Participant and his/her Beneficiary are general
unsecured creditors of the Bank for the payment of benefits under this Plan. The benefits represent the mere promise by the Bank to pay the benefits. Rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, attachment, or garnishment by creditors. 
 7.9 Severability. If any provision of
this Plan is held invalid, such invalidity shall not affect any other provision of this Plan not held invalid, and each such other provision shall continue in full force and effect to the full extent consistent with law. If any provision of this
Plan is held invalid in part, such invalidity shall not affect the remainder of the provision not held invalid, and the remainder of such provision together with all other provisions of this Plan shall continue in full force and effect to the full
extent consistent with law. 
 7.10 Headings. Caption headings and subheadings herein are included solely for
convenience of reference and shall not affect the meaning or interpretation of any provision of this Plan. 
 7.11
Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered by hand or mailed, certified or registered mail, return receipt requested, with
postage prepaid, to the following addresses or to such other address as either party may designate by like notice. If to the Bank, notice shall be given to: 
 Board of Directors 
 Baltimore County Savings Bank 

4111 E. Joppa Road 
 Baltimore, Maryland 21236 
 or to such other or additional person or persons as the Bank shall
have designated to the Participant in writing. If to a Participant, notice shall be given to the Participant at the Participant’s address appearing on the Bank’s records, or to such other or additional person or persons as the Participant
shall have designated to the Bank in writing. 
 7.12 Payment of Legal Fees. The Bank is aware that after a Change
in Control management of the Bank could cause or attempt to cause the Bank to refuse to comply with its obligations under this Plan, or could institute or cause or attempt to cause the Bank to institute litigation seeking to have this Plan declared
unenforceable, or could take or attempt to take other action to deny a Participant the benefits intended under this Plan. In these circumstances the purpose of this Plan would be frustrated. 

It is the intention of the Bank that the Participant not be required to incur the expenses associated with the enforcement of rights
under this Plan, whether by litigation or other legal action, because the cost and expense thereof would substantially detract from the benefits intended to be granted to the Participant hereunder. It is the intention of the Bank that the
Participant not be forced to negotiate settlement of rights under this Plan under threat of incurring expenses. Accordingly, if after a Change in Control occurs it appears to the Participant that: 

(i) the Bank has failed to comply with any of its obligations under this Plan, or 

(ii) the Bank or any other person has taken any action to declare this Plan void or unenforceable, or instituted any
litigation or other legal action designed to deny, diminish, or to recover from the Participant the benefits intended to be provided to the Participant hereunder, the Bank irrevocably authorizes the Participant from time to time to retain counsel of
the Participant’s choice (at the Bank’s expense as provided in this Section 7.12) to represent the 

  
 9 

 
Participant in the initiation or defense of any litigation or other legal action, whether by or against the Bank or any director, officer, stockholder, or other person affiliated with the Bank,
in any jurisdiction. 
 Despite any existing or previous attorney-client relationship between the Bank and any counsel chosen by
the Participant under this Section 7.12, the Bank irrevocably consents to the Participant entering into an attorney-client relationship with that counsel, and the Bank and the Participant agree that a confidential relationship shall exist
between the Participant and that counsel. The fees and expenses of counsel selected from time to time by the Participant as provided in this Section shall be paid or reimbursed to the Participant by the Bank on a regular, periodic basis upon
presentation by the Participant of a statement or statements prepared by such counsel in accordance with such counsel’s customary practices, up to a maximum aggregate amount of $100,000, whether suit be brought or not, and whether or not
incurred in trial, bankruptcy, or appellate proceedings. 
 The Bank’s obligation to pay the Participant’s legal fees
provided by this Section 7.12 operates separately from and in addition to any legal fee reimbursement obligation the Bank may have with the Participant under any separate employment, severance, or other agreement between the Participant and the
Bank. Despite any contrary provision in this Section 7.12 however, the Bank shall not be required to pay or reimburse the Participant’s legal expenses if doing so would violate Section 18(k) of the Federal Deposit Insurance Act 12
U.S.C. 1828(k) and Rule 359.3 of the Federal Deposit Insurance Corporation 12 CFR 359.3. 
 ARTICLE 8 

ADMINISTRATION OF PLAN 
 8.1 Plan Administrator Duties. This Plan shall be administered by a Plan Administrator consisting of the Bank’s Board of Directors or such Committee or person(s) as the Board shall
appoint. The Plan Administrator shall also have the discretion and authority to (i) make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Plan and (ii) decide or resolve any and all
questions, including interpretations of this Plan, as may arise in connection with the Plan. 
 8.2 Agents. In the
administration of this Plan, the Plan Administrator may employ agents and delegate to them such administrative duties as it sees fit (including acting through a duly appointed representative) and may from time to time consult with counsel, who may
be counsel to the Bank. 
 8.3 Binding Effect of Decisions. The decision or action of the Plan Administrator with
respect to any question arising out of or in connection with the administration, interpretation, and application of the Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any
interest in the Plan. Neither the Participant or his/her Beneficiary shall be deemed to have any right, vested or non-vested, regarding the continued use of any previously adopted assumptions, including, but not limited to, the discount rate.

 8.4 Indemnity of Plan Administrator. The Bank shall indemnify and hold harmless the members of the Plan
Administrator against any and all claims, losses, damages, expenses, or liabilities arising from any action or failure to act with respect to this Plan, except in the case of willful misconduct by the Plan Administrator or any of its members.

 [Signature Page to Follow] 

  
 10 

 IN WITNESS WHEREOF, the parties have executed this Plan as of the date first written
above. 
  

	
	BALTIMORE COUNTY SAVINGS BANK
	
	  

	For the Board of Directors
	
	  

	Date

  
 11 

 Appendix A 
 BALTIMORE COUNTY SAVINGS BANK 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 Participants 
 The Board of Directors of Baltimore County Savings Bank has designated the following individuals as Participants in the Baltimore County Savings Bank Supplemental Executive Retirement Plan: 

 

	 	•	 	 Joseph Bouffard 

  

	 	•	 	 Anthony Cole 

  

	 	•	 	 Katherine Gesswein 

  

	 	•	 	 Annette Quigley 

  

	 	•	 	 Daniel Wernecke 

 Appendix B 
 BALTIMORE COUNTY SAVINGS BANK 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 Benefit Election Form/Beneficiary Designation 
 PARTICIPANT INFORMATION (Please Print in Ink) 
  

			
	Name:	 	  

			
		
	Social Security Number:	 	  

			
		
	Address:	 	  

			
		
	Telephone Number:	 	  

  

	I.	FORM OF DISTRIBUTION. I request payments under the Baltimore County Savings Bank Supplemental Executive Retirement Plan (the “Plan”) to be made in the
following forms (check one under each category as applicable): 

  

							
		 	    A.        	  	In the event benefits become payable to me under the terms of Section of 2.1 of the Plan (Normal Retirement Benefit), I hereby elect that such payments be made to me in
the following form:
				
		 		  	 (1)                
	  	In monthly installments for 180 months.
				
		 		  	 (2)                
	  	As a lump sum.
			
		 	    B.	  	In the event benefits become payable to me under the terms of Section 2.2 of the Plan (Early Retirement Benefit), I hereby elect that such payments be made to me in
the following form:
				
		 		  	 (1)                
	  	In equal monthly installments for 180 months.
				
		 		  	 (2)                
	  	As a lump sum.
			
		 	    C.	  	In the event benefits become payable to me under the terms of Section 2.3 of the Plan (Early Termination Benefit), I hereby elect that such payments be made to me
in the following form:
				
		 		  	 (1)                
	  	In equal monthly installments for 180 months.
				
		 		  	 (2)                
	  	As a lump sum.

	II.	BENEFICIARY DESIGNATION 

I hereby revoke any prior designations of any death benefit beneficiary/ies under the Plan, and I hereby designate the following
beneficiary/ies to receive any benefit payable on account of my death under the Plan, subject to my right to change this designation and subject to the terms of the Plan: 

 

							
		 	 A.        	 	Primary Beneficiary/ies	 	
				
		 		 	Name/Address/Telephone	 	  

		 		 		 	  

		 		 	Relationship to Participant        	 	  

		 		 	% of Plan Benefit	 	  

		 		 	Date of Birth	 	  

		 		 	Social Security Number	 	  

			
		 	 B.	 	Contingent Beneficiary/ies (will receive indicated portions of Plan benefit if no primary beneficiary/ies survive me)
				
		 		 	Name/Address/Telephone	 	  

		 		 		 	  

		 		 	Relationship to Participant	 	  

		 		 	% of Plan Benefit	 	  

		 		 	Date of Birth	 	  

		 		 	Social Security Number	 	  

 I acknowledge that I have been given a copy of the Plan and I agree that the above elections and designations are subject
to all of the terms of the Plan. 
  

									
	Date:	 	  
	 		 	Signature:	 	  

  

			
	Accepted for Baltimore County Savings Bank
	
	 /s/ Henry V. Kahl

	Name: Henry V. Kahl
	Title: Chairman of the Board
	
	  

	Date

  
 2

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