Document:

Form of Master Services Agreement

 Exhibit 10.13 

 

 

 MASTER SERVICE AGREEMENT 
 FOR NETWORK SERVICES 
 MSA No:
                          
 This MASTER SERVICE AGREEMENT is entered into by and between the below named Customer and Masergy Communications, Inc., a Delaware corporation (“MASERGY”) (each referred to as a
“Party” or collectively referred to as the “Parties”) as of
                                        ,
201     (the “Effective Date”), and establishes the terms and conditions under which MASERGY will provide network services to Customer. As used in this Master Service Agreement, the term “Services”
shall apply to any and all voice, video and data network services provided by MASERGY to Customer, whether provided over MASERGY’s own network or through resale, including but not limited to the provision of equipment, cabling, circuits,
facilities, systems and software. 
 Customer:______________________________________________________________________________

 State of Incorporation:____________________________________________________________________ 

 

			
	 Principal Place of Business Address:
	  	 Address for Notices:

		
		  	 Attn:
 Fax:
 Email:

 

	1.	 Services and Service Orders. 

  

	 	1.1.	 The Parties anticipate that Customer may, at Customer’s sole discretion, subscribe to Services supplied by MASERGY, using written forms or
electronic documents specified by MASERGY. For each of the specific Services to which Customer subscribes, Customer will (i) execute an attachment to this Master Service Agreement describing the Services in detail and setting forth the price,
minimum duration of Service, and any Service-specific terms and conditions (hereinafter a “Service Order Form”), or (ii) assent to the terms of an electronic document delivered to Customer by MASERGY containing information set forth
in the Service Order Form. Customer consents to the use of electronic documents and records in connection with the performance of this Master Service Agreement and delivery of the Services by MASERGY. Each Service Order Form shall be attached to
this Master Service Agreement and be identified by consecutive letters of the alphabet or numbers. A Service Order Form shall be effective upon execution of the Service Order Form by both Parties; provided, however, that MASERGY reserves the right
to reject a Service Order Form without liability at any time prior to acceptance by MASERGY. MASERGY shall accept a Service Order Form: (a) in writing by execution of the Service Order Form; (b) by taking any action to install the Service
in reliance upon the Service Order Form; or (c) by delivery of Service. Unless otherwise specified, the Service Order Form does not include applicable Taxes (as defined in Section 3.6), duties, or similar fees that may be imposed by any
government. No term or condition hereof shall be modified except by written agreement of both Parties. As used in this document, the word “Agreement” shall apply to all promises, terms and conditions of the Parties contained in this Master
Service Agreement, any Service Order Form(s), the AUP, the Terms of Service, the Privacy Policy 

  
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and any applicable SLAs (as each is defined or identified herein). The Agreement shall supersede any and all prior agreements or understandings with respect to the Service described therein and
comprise the full and final agreement of the Parties. In the event of any conflict between the various documents included in the Agreement, the provisions of the Service Order Form shall in all respects govern and control, followed by, in order, the
provisions of this Master Services Agreement, the SLA, the AUP, the Terms of Service, and the Privacy Policy (as those terms are defined herein). 

  

	 	1.2.	 If a Service Order Form is accepted by MASERGY, MASERGY agrees to provide the Service in accordance with this Agreement. MASERGY may use
contractors in providing the Services and otherwise use third parties, including, without limitation, affiliates of MASERGY, and assign rights to bill and collect fees due under this Agreement. 

 

	 	1.3.	 Upon Customer’s request, MASERGY shall provide Customer with service credits in accordance with the then-current Service Level Agreements
(“SLAs”), which are incorporated herein by reference and available at www.masergy.com, under Solutions. MASERGY reserves the right to amend the SLAs, from time to time, effective upon posting of the revised SLAs at its web site or by other
notice delivered to Customer by MASERGY using contact information most recently provided to MASERGY by Customer. Outages attributable to Customer-ordered local access circuits shall not be included in the calculation of Service unavailability. In
the event of an outage that MASERGY determines is attributable to the Customer-ordered local access circuit, such outage will be referred back to the Customer. 

 

	 	1.4.	 MASERGY may substitute, change, or rearrange any equipment, facility, or system used in providing Services from time to time but shall not thereby
alter the technical parameters of the Services provided in any adverse material manner. 

  

	 	1.5.	 IP Addresses assigned from a MASERGY net-block are non-portable. In the event Customer or MASERGY should terminate Service, any and all IP address
space allocated by MASERGY must be returned to MASERGY, and Customer’s right to use such allocated address space shall terminate. 

  

	 	1.6.	 All use of the Services must comply with the then-current version of MASERGY’s Acceptable Use Policy (“AUP”), which is incorporated
herein by this reference and is available at www.masergy.com under Policies. MASERGY reserves the right to amend the AUP from time to time, effective upon posting of the revised AUP at its web site or by other notice to Customer.

  

	2.	 Term. 

  

	 	2.1.	 This Agreement shall be effective as of the Effective Date and shall continue through the expiration of the last Service Order Form(s) that is
in effect under this Agreement, unless earlier terminated as provided herein (hereafter the “Term”). The Initial Term of a particular Service shall mean the minimum term of Service set forth in the Service Order Form, beginning
as of the Commencement Date of such Service, as set forth in Section 3.3. Unless a Party provides the other Party with written notice, as per the notice provisions of Section 15, not less than sixty (60) days prior to the
expiration of the Initial Term or any subsequent renewal term that it intends not to renew the Service, the Service shall automatically renew in increments of one year (each an “Extension Term”).

  
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	 	2.2.	 Any termination of this Agreement shall not relieve Customer of its obligation to pay any charges incurred hereunder prior to such termination,
including without limitation, termination liabilities arising under Section 6. Sections 3, 4.6, 6-9, and 11-17 of this Agreement and the Parties’ rights and obligations hereunder, which by their nature would extend beyond the termination,
cancellation or expiration of this Agreement, shall survive such termination, cancellation or expiration. 

  

	3.	 Rates and Payments. 

  

	 	3.1.	 Customer shall pay MASERGY for all charges associated with the Services at the rates and currency set forth in the Service Order Form. Following the
Initial Term of such Service Order Form, MASERGY may change rates upon ninety (90) days written notice to Customer. Notwithstanding the foregoing, MASERGY may increase rates upon five (5) days written notice, via electronic mail, to
Customer for calls terminated to the public switched telephone network (PSTN) (“Off-net”). Service charges shall be invoiced monthly in advance, except for charges that are dependent upon usage of Service, which shall be billed in arrears.

  

	 	3.2.	 Customer is responsible for any additional charges, over and above the standard Non-Recurring Charges, set forth in the Service Order Form, required
to complete the construction or provisioning of any local access facilities (“Start-up Charge”), to be agreed to and invoiced upon Customer’s approval of such additional charges. MASERGY is not responsible for any delay in the
Commencement Date caused by delays in approvals by Customer or third parties. 

  

	 	3.3.	 The Customer may specify the Customer’s desired Service delivery date during the Service order process. The Parties agree that an individual
site’s Initial Term and billing shall start on the Commencement Date which is defined as the date a functioning circuit is prepared to route IP packets from a MASERGY hub to an individual Customer site/building point of demarcation. Customer is
responsible for all Recurring Charges and all Non-Recurring Charges specified in the Service Order Form from and after the Commencement Date. Recurring Charges will be prorated for the first and last month of the Agreement if Service is not provided
for a complete month. MASERGY will order all telco lines required for local access to the designated building point of demarcation, unless otherwise agreed to by the Parties. Customer is responsible for the installation, maintenance, and warranty of
circuit extension work or line extensions, and the Customer is responsible for any charges associated with such circuit extension work or line extensions. If requested by the Customer, MASERGY will request the Local Exchange Carrier (LEC) or
other third party provider to extend the circuit from the designated building point of demarcation to the extended delivery point; provided, however, that in some cases MASERGY may not be able to provide the line extension. Customer may be
billed separately by MASERGY or by a third party for fees associated with facilities construction or line extensions, if applicable.

  
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	 	3.4.	 All amounts owed by Customer are due and payable upon receipt of MASERGY’s invoice and shall be past due thirty (30) days after
Customer’s receipt of the invoice; provided that, if MASERGY sends an invoice to Customer by electronic mail, it shall be deemed to have been received on the date sent. A late charge shall be added to Customer’s past due balance equivalent
to the lesser of 1.5% per month or the maximum rate permitted by law. If Customer requires that a separate billing entity be billed for Services, for proper accounting of value-added taxes or otherwise, MASERGY must be notified
at the time the Service Order Form is executed or via other advance written notice as to which billing entity and address Customer would like MASERGY to bill. If MASERGY is not given such notice, MASERGY shall
bill Customer at the address first set forth in this Agreement or such other billing address that has been previously provided to MASERGY in writing. Notwithstanding the failure of Customer to comply with such notice
requirement, MASERGY shall revise an invoice to correct errors in invoicing the correct billing entity upon the written request of Customer, solely provided such written request is received within sixty (60) days of the date of such invoice.

  

	 	3.5.	 If Customer elects to relocate or otherwise change the place that Services are delivered after commencement of the installation of facilities,
Customer shall pay any disconnection, early cancellation or termination charges incurred by MASERGY for the original location and installation charges for the new location. Customer will provide written notification to MASERGY (i.e. electronic mail
to disconnect@masergy.com, or by letter) authorizing MASERGY to disconnect the old location following the move. 

  

	 	3.6.	 Other than taxes on MASERGY’s net income, Customer will be responsible for payment of all taxes, fees, charges, surcharges, or withholdings of
any nature imposed by any U.S. or foreign taxing or government authority based on the provision, sale or use of the Services (hereafter “Taxes”). MASERGY shall also maintain the ability to assess Customer a reasonable regulatory
administrative recovery fee to recover administrative and other expenses incurred by MASERGY related to complying with its collection of Taxes and compliance with related regulations. All charges, fees, or quotations for Services are net of
applicable Taxes. If Customer is required by law to make any deduction or withholding from any payment due hereunder to MASERGY, then the gross amount payable by Customer to MASERGY will be increased so that, after any such deduction or withholding
for Taxes, the net amount received by MASERGY will not be less than MASERGY would have received had no such deduction or withholding been required. 

  

	 	3.7.	 If Customer disputes any portion of a MASERGY invoice, Customer must pay the undisputed portion of the invoice, and submit a written claim to
billing@masergy.com regarding the disputed amount and setting forth the particulars thereof. All claims must be submitted to MASERGY within sixty (60) days of the date printed on the invoice giving rise to the claim.

  

	 	3.8.	 Customer shall provide MASERGY with credit information as requested, and delivery of Service is subject to credit approval. Customer hereby consents
to MASERGY’s retrieval of credit information, regarding Customer, from third parties. MASERGY may require Customer to make a deposit or pre-payment reasonably acceptable to MASERGY as a condition to MASERGY’s acceptance or continued
provisioning of any Service Order Form, or as a condition to MASERGY’s continuation of Service. MASERGY shall hold, without any responsibility for paying Customer interest on any amounts held, any deposit or pre-payment provided by Customer
under this Section as security for payment of Customer’s charges. At such time as the provision of Service to Customer is terminated, the amount of the deposit or pre-payment will be credited to Customer’s account, and any credit balance,
which may remain, will be refunded. 

  
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	4.	 Service Control Center 

  

	 	4.1.	 MASERGY’s Service Control Center (“Portal”) is a web based feature that allows Customer’s authorized users to view current
network performance, to make modifications to current Services, and to add additional Services. 

  

	 	4.2.	 Customer must designate Customer’s Authorized Portal Users into one of the following two (2) categories; 

 

	 	4.2.1.	 Administrative User, a user with full access to Customer’s records with the authority to view network usage, prioritize applications, add,
modify, or delete Services, or 

  

	 	4.2.2.	 Guest User, a user with view or read only capabilities. 

 

	 	4.3.	 Customer agrees to use MASERGY’s Portal and any additional electronic or web-based services offered by MASERGY in the future in accordance with
this Agreement. Customer agrees that the person using Customer’s Portal username and password is an Authorized User and has the capacity and authority to make modifications that may increase or decrease the Customer’s monthly recurring
fees electronically on behalf of Customer. The Portal will not allow an Administrative User to reduce the monthly billing below the original contracted amount. Customer’s password security is the responsibility of the Customer.

  

	 	4.4.	 MASERGY will confirm any additional Service orders by email to the Customer’s username. MASERGY may change, modify and/or alter at any time the
information or Portal functionality to which Customer will have access through the Portal. MASERGY may amend or terminate the Portal access upon written notice as per Section 15 of this Agreement. 

 

	 	4.5.	 Customer shall be responsible for the confidentiality and use of Customer’s username, password, and other security data, methods and devices.
Customer understands that Customer shall be solely responsible for all information or orders (which shall include the submission of trouble tickets) electronically transmitted, or use of any data, information, or services obtained, using
Customer’s username, password, and other security data. 

  

	 	4.6.	 Customer agrees not to use MASERGY’s Portal except as authorized, and not to make it available to any third parties. Customer agrees that its
use of MASERGY’s Portal shall be consistent with, MASERGY’s Terms of Use, Acceptable Use Policy, and the terms of the Privacy Policy located on MASERGY’s web site. Customer shall immediately notify MASERGY if there is any unauthorized
use of Customer’s passwords and other security data or any use inconsistent with the terms of this Agreement including, MASERGY’s Terms of Use, Acceptable Use Policy, or the terms of the Privacy Policy. UNLESS DUE TO THE NEGLIGENCE OR
WILLFUL MISCONDUCT OF MASERGY, MASERGY SHALL NOT BE RESPONSIBLE OR OBLIGATED FOR ANY COST, FEES, EXPENSES OR LIABILITIES ACCRUING AS A RESULT OF ANY UNAUTHORIZED USE OF CUSTOMER’S PASSWORD OR OTHER SECURITY DATA PRIOR TO RECEIVING
WRITTEN NOTICE OF THE UNAUTHORIZED USE FROM CUSTOMER. 

  
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	5.	 MASERGY Equipment, Access. 

  

	 	5.1.	 Customer shall be liable for any damages to MASERGY’s equipment, facility, or system caused by: (a) negligent or willful acts or omissions
of Customer or attributable to Customer; or (b) malfunction or failure of any equipment or facility provided by Customer or its, agents, employees or suppliers. Customer shall remove any existing hazardous materials or condition prior to any
construction or installation work being performed by MASERGY on Customer’s premises. 

  

	 	5.2.	 Customer shall be responsible for obtaining any reasonably necessary access and right-of-way to Customer’s premises to the extent reasonably
determined by MASERGY to be appropriate to the provision and maintenance of Services, equipment, facilities, and systems hereunder. Upon request, Customer will provide an out-of-band telephone connection from the public switched telephone network
(PSTN) to be connected to a modem, provided by MASERGY, to allow access to the Services provided under this Agreement for testing/configuration purposes. 

 

	 	5.3.	 Customer shall use reasonable measures to ensure that any facility or equipment of MASERGY located at a Customer’s premises is not rearranged,
moved, removed, disconnected, altered, or repaired without MASERGY’s prior written consent. Customer shall not create or allow any liens or other encumbrances to be placed on any MASERGY equipment, facility or system arising from any act,
transaction or circumstance relating to Customer. 

  

	 	5.4.	 All equipment provided by MASERGY will remain the property of MASERGY and must be returned to MASERGY, in substantially the same condition (normal
wear and tear excepted), in the event of Service termination. Upon Service termination, MASERGY reserves the right to invoice Customer for the current list price of the equipment; provided, however, if the equipment is returned to MASERGY as
provided above, MASERGY shall credit Customer’s account for the amount invoiced for said equipment. If the equipment is returned to MASERGY in poor condition or missing pieces, a credit equal to the difference between the current list price of
the equipment and the reconditioned price will be applied to Customer’s account. If Customer fails to return the equipment, Customer will own the equipment and will be responsible for any required maintenance. 

 

	6.	 Termination/Remedies. 

  

	 	6.1.	 Each of the following events shall be deemed a “Default” under this Agreement, and the non-defaulting Party may terminate this Agreement
or suspend Service upon: (a) any failure of Customer to pay any undisputed amounts as provided in this Agreement; (b) any material breach by the defaulting Party of this Agreement; (c) any insolvency, bankruptcy, assignment for the
benefit of creditors, appointment of a trustee or receiver or similar event with respect to Customer; provided, however, that MASERGY will not terminate or suspend Service unless a Default of Customer continues for more than thirty (30) days
after 

  
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written notification, as per the notice provisions of Section 15, to Customer, or ten (10) days after written notice, as per the notice provisions of Section 15, in the case of
failure to pay money. Notwithstanding the foregoing, Customer shall also be in Default, and MASERGY shall have the right to immediately terminate or suspend Service upon any violation by Customer of an applicable law, rule or regulation affecting
the use of the Service or performance under this Agreement. 

  

	 	6.2.	 Notwithstanding any other provision of this Agreement, if MASERGY cancels or terminates Service due to a Default of Customer, such cancellation or
termination shall apply to an individual Service Order Form or the Agreement in its entirety, in MASERGY’s sole discretion. 

  

	 	6.3.	 MASERGY reserves the right to immediately suspend or terminate Service in the event of any governmental prohibition or required alteration of the
Service, or in any existing or anticipated emergency circumstance where injury to people or damage to property is reasonably possible, if MASERGY determines, in good faith, that no other commercially reasonable actions will adequately protect such
people or property. 

  

	 	6.4.	 Customer may cancel or terminate this Agreement without payment of any liquidated damages charges or other termination charge of any kind or amount
due to a Default of MASERGY as described in Section 6.1 above if such Default continues for more than thirty (30) days after Customer’s written notice, as per the notice provisions of Section 15, to MASERGY.

  

	 	6.5.	 If Service provided pursuant to any Service Order Form is canceled or terminated before expiration of the Initial Term of such Service Order Form,
or any Extension Term thereof: (a) by the Customer for any reason other than for a Default under this Agreement by MASERGY; or (b) by MASERGY due to a Default by Customer of this Agreement, Customer agrees to pay MASERGY the following
sums, which shall become due and owing as of the effective date of cancellation or termination and be payable within thirty days thereafter: (i) all unpaid Non-Recurring Charges specified in any Service Order Form; (ii) all unpaid
Recurring Charges for Services pursuant to any Service Order Form provided before the date of termination; (iii) one hundred percent (100%) of all Recurring Charges for canceled or terminated Services specified in any Service Order Form
for the balance of the then current Term of the Service Order Form; and (iv) all fees related to the canceled or terminated Services that MASERGY is charged by any and all third parties that MASERGY is unable to avoid after using commercially
reasonable efforts, including without limitation, all termination charges due to any and all third party service providers; provided, however, that such third party fees will not be separately charged if they are included in fees paid pursuant to
subsection (iii) of this Section 6.5. The Parties agree that this paragraph constitutes liquidated damages (and not a penalty), and further agree that this paragraph sets forth the Party’s mutual agreement on a reasonable estimate of
MASERGY’s actual damages in the event of an early cancellation or termination by Customer, which damages would otherwise be difficult or impossible to ascertain. 

 

	 	6.5.1.	 Customer will provide written notification of Service termination to MASERGY (i.e., electronic mail to disconnect@masergy.com, or by letter as per
the notice provisions of Section 15). Customer acknowledges that third party carriers or service providers may 

  
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not immediately terminate services upon receipt of a notice of termination from MASERGY. Customer shall be responsible for early termination charges as set forth in Section 6.5 and the
applicable Service Monthly Recurring Charges (MRC) up to the later of: a) thirty (30) days past the date such written notice was received by the MASERGY disconnect department; or b) the termination date provided by Customer for
the applicable Services. 

  

	7.	 Warranties and Limitation of Liability. 

 

	 	7.1.	 In the event of a Service failure or interruption, Customer’s sole and exclusive remedy shall be limited to credits granted by MASERGY for the
actual period such Service was unavailable pursuant to the SLAs, with such credits being offset against accumulated unpaid charges billed to Customer as of the time the credit is granted. Any net remaining credit will be offset against unpaid
charges within the next two complete billing cycles after the credit is granted. Following the termination of this Agreement, all remaining credit will be paid to Customer. MASERGY’s cumulative liability under this Agreement shall in no event
exceed the amounts actually paid to MASERGY by Customer for the Service giving rise to the claim. EXCEPT AS EXPRESSLY SET FORTH HEREIN, THERE ARE NO WARRANTIES OR REPRESENTATIONS MADE UNDER THIS AGREEMENT WITH RESPECT TO THE SERVICES OR OTHERWISE,
WHETHER EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, OR NONINFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS. EXCEPT WITH RESPECT TO A PARTY’S OBLIGATIONS UNDER SECTIONS 6.5, 11,
AND 13.3, NEITHER PARTY SHALL BE LIABLE TO THE OTHER, WHETHER FOR BREACH OF CONTRACT OR TORT, FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, COSTS, EXPENSES, OR LIABILITY (INCLUDING, WITHOUT LIMITATION, ANY DAMAGES, COSTS,
EXPENSES OR LIABILITY THAT ARE INCURRED BY A PARTY DUE TO LOST DATA, LATENCY, LOSS OF CONNECTIVITY, LOST REVENUES, LOST PROFITS, LOST CUSTOMERS, LOSS OF GOODWILL, REPLACEMENT COSTS, OR LOSS OF ACCESS TO THE SERVICES). 

 

	8.	 Service Exclusions and Limitation of Liability. 

 

	 	8.1.	 MASERGY’s inControl Voice Service provides Customer with the ability to transport voice traffic from their Customer Premises across the MASERGY
network for termination either to other MASERGY’s Customer locations (“On-net”), or to the public switched telephone network (PSTN) (“Off-net”). MASERGY is an Enhanced Service Provider, and not a certificated carrier.
MASERGY will use certificated carriers connected to the PSTN to complete Off-net calls pursuant to the MASERGY inControl Voice Service product offering. Traffic delivered by Customer in a format not supported by MASERGY will be blocked and will not
be delivered by MASERGY. Therefore, MASERGY will not accept calls seeking operator service, directory assistance or public safety answering point (PSAP). Examples of types of calls that are not supported on the MASERGY network, including but not
limited to: 911, 311, 411, 900, 976, 800 and 700 calls, and Premium Rated Calls (including but not limited to calls to numbers that provide information and/or entertainment over the telephone). In addition, MASERGY does not participate in The North
American Numbering Plan (NANP), therefore does not assign telephone numbers. 

  
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	 	8.2.	 Limitation of Liability for Service Exclusions 

  

	 	8.2.1.	 MASERGY SHALL NOT COMPLETE OR INCUR ANY LIABILITY, DIRECT OR INDIRECT WITH RESPECT TO THE ROUTING OR COMPLETION OF CALLS BY MASERGY TO PUBLIC SAFETY
ANSWERING POINTS (PSAPS) OR MUNICIPAL EMERGENCY SERVICE PROVIDERS OR TO ANY PERSON WHO DIALS OR ATTEMPTS TO DIAL THE DIGITS “9-1-1” OR “X-1-1” OR TO ANY OTHER PERSON WHO MAY BE AFFECTED BY THE DIALING OF THE DIGITS
“X-1-1.” 

  

	 	8.2.2.	 MASERGY shall not complete or incur any liability, direct or indirect with respect to the routing or completion of calls by MASERGY to operator
services, directory assistance or public safety answering point (PSAP) platforms. 

  

	9.	 Assignment and Successors in Interest. 

 

	 	9.1.	 Neither Party may assign this Agreement without the written consent of the other Party (which consent shall not be unreasonably withheld or unduly
delayed), except that either Party may assign this Agreement and have its rights and obligations assumed hereunder: (a) to any affiliate of said Party; (b) pursuant to any sale or transfer of the majority of the stock or controlling
interest of such Party; (c) pursuant to any sale or transfer of substantially all of the assets of said Party related to this Agreement; or, (d) pursuant to any merger, restructuring or reorganization. As used in this Section 9.1,
“affiliate” shall mean any person or entity which controls, is controlled by, or is under common control with another (with “control” meaning ownership of 50% or more of the voting control of any person or entity).

  

	 	9.2.	 The terms, covenants and conditions contained in this Agreement shall bind and inure to the benefit of the Parties and their respective
administrators, successors and assigns. 

  

	10.	 Regulatory Compliance. 

  

	 	10.1.	 All Services are provided subject to applicable laws and regulations in any country where the Service is provided, and each Party is responsible for
complying with all laws and regulations pertaining to the provision and/or use of the Services, including, without limitation, the Communications Act of 1934, as amended, and the policies, rules and regulations of the FCC, as well as any other
governing regulatory or governmental body in the U.S. or any country where Service is provided. If any applicable present or future regulation or law requires a modification or waiver of any term of the Agreement or a Service Order, the Parties will
promptly and in good faith undertake the actions required by such regulation or law. None of the foregoing shall be deemed to be a warranty of noninfringement of intellectual property rights by MASERGY nor shall any such infringement constitute a
Default under this Agreement. 

  
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	 	10.2.	 In the event that any modification materially increases the cost of service provided under this Agreement, Customer may terminate the affected
Service by written notice sent to MASERGY within forty-five (45) days of the effective date of such change, without liability under Section 6.5. 

 

	11.	 Indemnity. 

  

	 	11.1.	 Customer shall: (i) indemnify and hold harmless MASERGY, its principals, officers, directors, agents, and employees (the “Masergy
Indemnified Parties”) from and against any liability, loss, cost, damage or expense incurred by the Masergy Indemnified Parties that arises from any Customer Negligence; and (ii) either defend the Masergy Indemnified Parties against, or
pay their reasonable attorney’s fees and court costs incurred in defending against, any third party or government claims or actions arising from any Customer Negligence. Customer Negligence shall mean the negligence or intentional misconduct of
Customer or Customer’s principals, officers, directors, agents or employees. 

  

	 	11.2.	 MASERGY shall: (i) indemnify and hold harmless Customer, its principals, officers, directors, agents, and employees (the “Customer
Indemnified Parties”) from and against any liability, loss, cost, damage or expense incurred by the Customer Indemnified Parties that arises from any MASERGY Negligence; and (ii) either defend the Customer Indemnified Parties against, or
pay their reasonable attorney’s fees and court costs incurred in defending against, any third party or government claims or actions arising from any MASERGY Negligence. MASERGY Negligence shall mean the negligence or intentional misconduct of
MASERGY or MASERGY’s principals, officers, directors, agents or employees. 

  

	 	11.3.	 Customer shall indemnify, defend and hold Masergy Indemnified Parties harmless from and against any loss, cost, damage or expense (including, but
not limited to, reasonable attorneys’ fees and court costs) arising from the use or misuse of the Services by Customer or an end user given access to the Services by Customer, including but not limited to: (a) a violation of the AUP;
(b) a failure to pay taxes or fees arising from the use of the Services by Customer or such end user; or (c) the use of the Services to transmit, distribute or store material in violation of a law or regulation, including material
protected by patent, copyright, trademark, or other intellectual property right without authorization of the owner, or material that is obscene defamatory, constitutes an illegal threat or harassment, or violates export control laws.

  

	 	11.4.	 Neither Party shall have any indemnification obligation hereunder unless such Party receives the reasonable cooperation and assistance of the
other Party in connection with any suit or claim indemnified hereunder, such Party controls any settlement of any suit or claim indemnified by such Party hereunder, prior written approval is obtained from such indemnifying Party prior to any
settlement by the other Party, and such indemnifying Party is promptly informed of any third party claim indemnified hereunder. 

  
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	12.	 Import and Export Restrictions. The Parties acknowledge that the Service and certain equipment, software and technical data to be
provided hereunder may be subject to import, export and re-export controls under the U.S. Export Administration Regulations and certain regulations under the Office of Foreign Assets Control of the Department of Commerce and regulations of other
countries. Neither Party shall export or re-export any Services, equipment, software or technical data, or undertake any transaction in violation of any such export and import laws and each Party shall be responsible for its compliance with all such
laws. 

  

	13.	 Miscellaneous. 

  

	 	13.1.	 Severability. If any provision of this Agreement is held by a court to be invalid, void or unenforceable, the remainder of this Agreement
shall nevertheless remain unimpaired and in effect. 

  

	 	13.2.	 Relationship of the Parties. No license, joint venture or partnership, express or implied, is granted by MASERGY pursuant to this Agreement.
Neither Party may use the other’s name, trademarks, trade names or other proprietary identifying symbols without the prior written approval of the other Party. 

 

	 	13.3.	 Confidentiality. Each Party agrees to maintain in strict confidence all plans, designs, drawings, trade secrets and other proprietary
information of the other Party (the Services shall be deemed proprietary information of MASERGY) that are disclosed pursuant to this Agreement and shall not use any such information or materials for any purpose other than in connection with the
exercise of its rights and obligations under this Agreement. No obligation of confidentiality shall apply to disclosed information that the recipient: (a) already possessed without obligation of confidentiality; (b) develops independently;
(c) rightfully receives without obligation or confidentiality from a third party; or (d) becomes publicly known or available. Notwithstanding this Section 13.3, either Party may disclose information of the other Party to a government
authority pursuant to a judicial, legislative, or regulatory subpoena, order, or proceeding. In the event of any conflict, inconsistency, or incongruity between the provisions of this Section 13.3 and any separate confidentiality or
non-disclosure agreement between the Parties, the provisions of the separate agreement shall in all respects govern and control. 

  

	 	13.4.	 Force Majeure. Neither Party shall be liable for any delay or failure in performance of any part of this Agreement to the extent such delay
or failure is caused by an event of Force Majeure, including but not limited to fire, flood, explosion, accident, war, strike, embargo, governmental requirement, civil or military authority, Act of God, acts or omissions of common carrier,
warehouseman, vendors or suppliers, including but not limited to providers of telecommunications services, or any other cause beyond its reasonable control. A failure to pay money by either Party shall not be excused under this provision for a
period longer than five (5) days. Any such delay or failure shall suspend the Agreement until the Force Majeure condition ceases, and the Term shall be extended by the length of the suspension. 

 

	 	13.5.	 No Waiver. The failure by either Party to take action to enforce compliance with any of the terms or conditions of this Agreement, or to give
notice of any breach, shall not constitute a waiver or relinquishment of such right. 

  
 Page 11 of 12

 

 

  

  

	14.	 Choice of Laws. This Agreement shall be governed by the laws of the State of Texas without regard to its choice of law provisions. In any
action between the Parties to enforce any material provision of this Agreement, the prevailing Party shall be entitled to recover its legal fees and court costs from the non-prevailing Party in addition to whatever other relief a court may award.

  

	15.	 Notices. Notices required pursuant to this Agreement shall be in writing, transmitted to the applicable Party’s respective address, and
will be considered given when (a) delivered and signed for by the recipient if sent by certified or registered U.S. Mail, return receipt requested; or, (b) signed for by the recipient if sent by overnight courier service. Notices to
MASERGY must be addressed to Masergy Communications, Inc., 2740 North Dallas Parkway, Suite 260, Plano, Texas 75093 Attn: Contract Administration. Notices to Customer must be addressed to the Customer as set forth on the first page of this
Agreement. 

  

	16.	 Non-Exclusivity. The Parties respective obligations under this Agreement are non-exclusive and nothing herein is intended to restrict
Customer as to the purchase, resale or use of any other company’s services, even if such services are similar to services provided by MASERGY hereunder. Nothing herein is intended to limit MASERGY’s right to offer its services to other
customers or end users, even if such customers compete with Customer. Nothing herein is intended to restrict Customer and MASERGY from competing with each other. Nothing herein is intended to restrict solicitation by MASERGY or Customer of any
specific or prospective end user customers or restrict solicitation of any general categories of prospective or existing end user customers. 

  

	17.	 Counterparts. This Agreement may be executed in several counterparts, each of which shall constitute an original, but all of which
shall constitute one and the same instrument. 

 In Witness whereof, each of the Parties has caused
this Master Service Agreement to be executed by its duly authorized representative on the date entered below. 
  

									
	Masergy Communications, Inc.:	 		 	Customer:
					
	 Signature:
	 	 	 		 	 Signature:
	 	 
					
	 Name (Print): 
	 	 	 		 	 Name (Print): 
	 	 
					
	 Title:
	 	 	 		 	 Title:
	 	 

  
 Page 12 of 12Employment Agreement Heritage Financial Corporation and Heritage Bank

 Exhibit 10.1 
 FORM OF EMPLOYMENT AGREEMENT BY AND BETWEEN 
 HERITAGE FINANCIAL
CORPORATION AND HERITAGE BANK AND BRIAN L. VANCE 
 THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made and
entered into as of this 3rd day of December, 2010, by and between Heritage Financial Corporation (the “Company”) and its wholly owned subsidiary Heritage Bank (the “Bank”), and Brian L. Vance (the “Employee”).

 WHEREAS, it is anticipated that the Employee will continue to make a major contribution to the success of the Company and the
Bank in the position of President and Chief Executive Officer of the Company and the Bank; 
 WHEREAS, the board of directors of
the Company and the board of directors of the Bank (collectively, the “Board of Directors”, and separately, the “Company Board of Directors” and the “Bank Board of Directors”, respectively) believe that it is in the
best interests of the Company and the Bank to enter into this Agreement with the Employee; and 
 WHEREAS, the Board of
Directors has approved and authorized the execution of this Agreement with the Employee. 
 NOW, THEREFORE, in consideration of
the foregoing and of the respective covenants and agreements of the parties herein, it is AGREED as follows: 
 1.
Definitions. 
 “Change in Control” means (i) any “person,” as such term is used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (other than the Company, any of the Consolidated Subsidiaries, any person (as hereinabove defined) acting on behalf of the Company as
underwriter pursuant to an offering who is temporarily holding securities in connection with such offering, any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of the Consolidated Subsidiaries, or
any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company), is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the
Exchange Act), directly or indirectly, of securities of the Company or the Bank representing 25% or more of the combined voting power of the Company’s or the Bank’s then outstanding securities; (ii) individuals who are members of the
Company Board of Directors on the Effective Date (the “Incumbent Board”) cease for any reason to constitute at least a majority thereof, provided that any person becoming a director subsequent to the Effective Date whose election
was approved by a vote of at least three-quarters of the directors comprising the Incumbent Board or whose nomination for election by the Company’s stockholders was approved by the nominating committee serving under an Incumbent Board or who
was appointed as a result of a change at the direction of the Washington Department of Financial Institutions (“DFI”) or the Federal Deposit Insurance Corporation (“FDIC”), shall be considered a member of the Incumbent Board;
(iii) the stockholders of the Company or the Bank approve a merger or consolidation of the Company or the Bank with any other corporation, other than (1) a merger or consolidation which would result in the voting securities of the Company
or the Bank outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting

 
securities of the Company or the Bank, or such surviving entity outstanding immediately after such merger or consolidation, or (2) a merger or consolidation effected to implement a
recapitalization of the Company or the Bank (or similar transaction) in which no person (as hereinabove defined) acquires more than 25% of the combined voting power of the Company’s or the Bank’s then outstanding securities; or
(iv) the stockholders of the Company or the Bank approve a plan of complete liquidation of the Company or the Bank, or an agreement for the sale or disposition by the Company or the Bank of all or substantially all of the Company’s or the
Bank’s assets (or any transaction having a similar effect); provided that the term “Change in Control” shall not include an acquisition of securities by an employee benefit plan of the Company or the Bank or a change in the
composition of the Company Board of Directors or the Bank Board of Directors at the direction of the DFI or the FDIC. Notwithstanding anything herein to the contrary, the merger or consolidation of Central Valley Bank into Heritage Bank shall not
constitute a “Change in Control” hereunder. 
 “Code” means the Internal Revenue Code of 1986, as amended
from time to time.  
 “Consolidated Subsidiaries” means any subsidiary or subsidiaries of the Company (or
its successors) that are part of an affiliated group (as defined in Section 1504 of the Code, without regard to subsection (b) thereof) that includes the Company, specifically including Heritage Bank and Central Valley Bank. 

“Date of Termination” means the date upon which the Employee experiences a Separation from Service, as specified in a
notice of termination pursuant to Section 8 of this Agreement or the date a succession becomes effective under Section 13. 
 “Effective Date” means December 3, 2010. 

“Involuntary Termination” means the Employee’s Separation from Service (i) by the Company and the Bank without
the Employee’s express written consent; or (ii) by the Employee by reason of a material diminution of or interference with his duties, responsibilities or benefits as described in this sentence, if the Employee sends written notice to the
Company and the Bank in accordance with Section 8 of this Agreement that an Involuntary Termination has occurred within 30 days of any of the following actions unless consented to in writing by the Employee: (1) a requirement that the
Employee be based at any place other than Olympia, Washington, or within a radius of 75 miles from the location of the Company’s administrative offices as of the Effective Date, except for reasonable travel on Company or Bank business;
(2) a material demotion of the Employee (which shall not include the failure of either Board of Directors to retain the Employee as President and Chief Executive Officer of the Company or the Bank subsequent to his appointment on account of the
termination of this Agreement, or if such demotion is necessary to comply with TARP or any other regulatory compliance requirement, including but not limited to enforcement matters between the Bank, the FDIC and/or the DFI and the Company and the
Federal Reserve Bank of San Francisco (referred to herein as a “Regulatory Compliance Requirement”)); (3) a material reduction in the Employee’s authority, 

  
 2 

 
duties or responsibilities; (4) a reduction in the Employee’s Salary, other than (A) as part of an overall program applied uniformly and with equitable effect to all members of the
senior management of the Company or the Bank, and (B) as required to comply with a Regulatory Compliance Requirement); and (5) the failure of the Company Board of Directors (or a board of directors of a successor of the Company) to reelect
the Employee as the President and Chief Executive Officer of the Company (or a successor of the Company) or any action by the Company Board of Directors (or a board of directors of a successor of the Company) removing the Employee from such office,
or the failure of the Bank Board of Directors (or a board of directors of a successor of the Bank) to elect the Employee as the President and Chief Executive Officer of the Bank (or a successor of the Bank) or any action by the Bank Board of
Directors (or a board of directors of a successor of the Bank) removing the Employee from such office. The term “Involuntary Termination” does not include Termination for Cause, Separation from Service due to death or permanent disability
pursuant to Section 7(f) of this Agreement, retirement or suspension or temporary or permanent prohibition from participation in the conduct of the Bank’s affairs under Section 8 of the Federal Deposit Insurance Act
(“FDIA”). 
 “SEO” means “senior executive officer”, as that phrase is defined under the
TARP Requirements. 
 “MHCE” means “most highly compensated employee”, as that phrase is defined
under the TARP Requirements. 
 “Section 409A” means Section 409A of the Code and the regulations and
guidance of general applicability issued thereunder. 
 “Separation from Service” shall have the same meaning
as in Section 409A, taking into account the rules and presumptions provided for in Treasury Regulation Section 1.409A-1(h) or any successor regulation. Notwithstanding the foregoing, for purposes of determining whether the Employee is
entitled to a payment on account of Involuntary Termination under Section 7(a) or Section 7(d) of this Agreement, the term “Separation from Service” shall require the complete cessation of services to the Bank, the Company and
all Consolidated Subsidiaries. 
 “TARP” means the Troubled Asset Relief Program of the United States
Department of the Treasury. 
 “TARP Period” means the period beginning with the Company’s receipt of any
financial assistance under TARP and ending on the last date upon which any obligation arising from such financial assistance remains outstanding (disregarding any warrants to purchase common stock of the Company that may be held by the United States
Treasury). 
 “TARP Recipient” shall mean an entity receiving financial assistance under TARP. 

“TARP Requirements” shall mean the regulations and guidance of general

  
 3 

 
applicability issued by the United States Department of the Treasury pursuant to TARP (including but not limited to the interim final rule issued under TARP), as well as any TARP-related
restrictions that specifically apply to the Company or the Bank. 
 “Termination for Cause” and
“Terminated for Cause” mean the Employee’s Separation from Service with the Company or the Bank because of (i) the Employee’s personal dishonesty, (ii) the Employee’s misconduct (whether or not willful),
(iii) the Employee’s breach of a fiduciary duty involving the Company or the Bank (whether or not for personal profit), (iv) the Employee’s intentional failure to perform stated duties (unless Employee is prevented from
performing such duties because he is disabled (within the meaning of Section 7(f)) or suffering from a medical condition that reasonably prevents him from performing such duties despite following a treatment plan provided by a physician or
licensed medical specialist), (v) the Employee’s willful violation of any law, rule, or regulation (other than traffic violations or offenses that are classified as misdemeanors) or final cease-and-desist order, (vi) specifically
identified actions or inactions by the Employee that the Employee knows or reasonably should know would materially and adversely increase the Company or the Bank’s credit, market, liquidity, operational, legal, compliance and/or reputational
risks, (vii) material violations of the TARP requirements, or (viii) the Employee’s material breach of any provision of this Agreement, unless the Employee cures such material breach within thirty (30) days after a written notice
describing such material breach is received by the Employee. No act or failure to act by the Employee shall be considered willful unless the Employee acted or failed to act with an absence of good faith and without a reasonable belief that his
action or failure to act was in the best interest of the Company or the Bank. The Employee shall not be deemed to have been Terminated for Cause unless and until there shall have been delivered to the Employee a copy of a resolution, duly adopted by
the affirmative vote of not less than a majority of the entire membership of the Board of Directors at a meeting of the Board of Directors duly called and held for such purpose (after reasonable notice to the Employee and an opportunity for the
Employee, together with the Employee’s counsel, to be heard before the Board of Directors), stating that in the good faith opinion of the Board of Directors the Employee has engaged in conduct described in the preceding sentence and specifying
the particulars thereof in detail. 
 “Voluntary Termination” means the Employee’s Separation From Service
pursuant to Section 7(c). 
 2. Term. The initial term of this Agreement shall be from the Effective Date through
March 31, 2012. Commencing on April 1, 2012, the term of this Agreement shall be for a period of three (3) years and on each April 1 beginning on April 1, 2013, the term of this Agreement shall be extended for a period of
one year, all subject to earlier termination as provided herein. The first two sentences of this Section 2 are subject to the following conditions: (i) neither the Employee nor the Company or the Bank has given notice to the other in
writing at least 90 days prior to April 1 of each year, beginning on April 1, 2012, that this Agreement shall not be extended further; and (ii) prior to the end of the then-current term, the Board of Directors, or with respect to the
Company Board of Directors and the Bank Board of Directors, as the case 

  
 4 

 
may be, a committee of such Board of Directors which has been delegated authority to act on such matters by such Board of Directors (with respect to each Board of Directors, the
“Committee”), explicitly reviews and approves the extension. Reference herein to the term of this Agreement shall refer to both the initial term and any extended terms. 

3. Employment. The Employee shall be employed as the President and Chief Executive Officer of the Company and the President and
Chief Executive Officer of the Bank. The Employee shall render all services and possess the powers as are customarily performed by persons situated in similar executive capacities, and shall have such other powers and duties as the Board of
Directors may prescribe from time to time. The Employee shall also render services to any subsidiary or subsidiaries of the Company or the Bank as requested by the Company or the Bank from time to time consistent with his executive position. The
Employee shall devote his best efforts and reasonable time and attention to the business and affairs of the Company and the Bank to the extent necessary to discharge his responsibilities hereunder. The Employee shall perform his duties under this
Agreement in accordance with such reasonable standards expected of persons with comparable positions in comparable organizations and as may be established from time to time by the Board of Directors. The Employee may (i) serve on charitable or
civic boards or committees and, in addition, on such corporate boards as are approved in a resolution adopted by a majority of the Board of Directors or the Committee, which approval shall not be withheld unreasonably, and (ii) manage personal
investments, so long as such activities do not interfere materially with performance of his responsibilities hereunder. If the Employee is appointed as a Director of the Company, and the Employee subsequently ceases to be an officer of the Company,
the Employee shall immediately tender his resignation as a Director of the Company. If the Employee is appointed a Director of the Bank, and the Employee subsequently ceases to be an officer of the Bank, then the Employee shall immediately tender
his resignation as a Director of the Bank. 
 4. Cash Compensation. 

(a) Salary. The Company and the Bank jointly agree to pay the Employee during the term of this Agreement a base salary (the
“Salary”) in the annualized amount of $298,008. The Employee’s Salary shall be paid in accordance with the Company or Bank’s customary payroll practices and shall be subject to applicable tax withholding. The amount of the
Employee’s Salary shall be increased from time to time in accordance with the amounts of salary approved by both of the Board of Directors or their Committees. The amount of the Salary shall be reviewed by the both of the Board of Directors of
the Company and the Board of Directors of the Bank, or their Committees, at least annually during the term of this Agreement. 
 (b) Bonuses. The Employee shall be entitled to participate in an equitable manner with all other executive officers of the Company and the Bank in such performance-based and discretionary bonuses,
if any, as are authorized and declared by the Board of Directors or the Committee for executive officers. Bonuses provided for under this Agreement shall be paid no later than 2 1/2 months after the end of the year in which the Employee obtains a
legally binding right to such payments (or such other time that still qualifies the payment as a “short-term deferral” under Section 409A, unless the parties enter into an agreement that complies

  
 5 

 
with Section 409A). Notwithstanding the foregoing, during such time as the Company is a TARP Recipient, if the TARP Requirements would preclude the payment of such bonuses to the Employee
(on account of his being an SEO, MHCE, or otherwise), then any bonuses payable hereunder shall be reduced or eliminated to the extent necessary to comply with the TARP Requirements. 

(c) Expenses. The Employee shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by the Employee
in performing services under this Agreement in accordance with the policies and procedures applicable to the executive officers of the Company and the Bank, provided that the Employee accounts for such expenses as required under such policies
and procedures. 
 5. Benefits. 
 (a) Participation in Benefit Plans. The Employee shall be entitled to participate, to the same extent as executive officers of the Company and the Bank generally, in all plans of the Company and
the Bank relating to pension, retirement, thrift, profit-sharing, savings, group or other life insurance, hospitalization, medical and dental coverage, travel and accident insurance, education, cash bonuses, and other retirement or employee benefits
or combinations thereof. In addition, the Employee shall be entitled to be considered for benefits under all of the stock and stock option related plans in which the Company and the Bank’s executive officers are eligible or become eligible to
participate. Notwithstanding the foregoing, if during the TARP Period the TARP Requirements would preclude the payment, provision or grant of any of the items described in this Section 5(a) to the Employee (on account of his being an SEO, an
MHCE or otherwise), then the payment, provision or granting of any such items payable hereunder shall be prohibited to the extent necessary to comply with the TARP Requirements. 

(b) Fringe Benefits. The Employee shall be eligible to participate in, and receive benefits under, any other fringe benefit plans
or perquisites which are or may become generally available to the Company or the Bank’s executive officers, including but not limited to supplemental retirement, deferred compensation programs, supplemental medical or life insurance plans,
physical examinations, financial planning and tax preparation services, except as limited or prohibited under TARP while the Company is a TARP Recipient. 
 (c) Automobile. The Employee shall be provided an automobile for his business use, at the Company and the Bank’s joint expense. The automobile provided shall be determined by the Committee in
its sole discretion, taking into account the reasonable preferences of the Employee and his position with the Company and the Bank. 
 6. Vacations; Leave. At such reasonable times as the Board of Directors or the Committee shall in its discretion permit, the Employee shall be entitled, without loss of pay, to absent himself
voluntarily from the performance of his employment under this Agreement, all such voluntary absences to count as vacation time; provided that: 

  
 6 

 (a) The Employee shall be entitled to any annual vacation in accordance with the policies as
periodically established by the Board of Directors or the Committee for senior management officials of the Company and the Bank, which shall in no event be less than the current policies of the Company and the Bank. 

(b) The timing of vacations shall be scheduled in a reasonable manner by the Employee. The Employee shall not be entitled to receive any
additional compensation from the Company or the Bank on account of his failure to take a vacation; nor shall he be entitled to accumulate unused vacation from one fiscal year to the next except to the extent authorized by the Board or the Committee
for senior management officials of the Company or the Bank. 
 (c) In addition to the aforesaid paid vacations, the Employee
shall be entitled without loss of pay, to absent himself voluntarily from the performance of his employment with the Company and the Bank for such additional period of time and for such valid and legitimate reasons as each Board of Directors or the
Committee in its sole discretion may determine. Further, each Board of Directors or the Committee shall be entitled to grant to the Employee a leave or leaves of absence with or without pay at such time or times and upon such terms and conditions as
each Board of Directors or the Committee in its sole discretion may determine. 
 (d) In addition, the Employee shall be
entitled to annual sick leave as established by each Board of Directors or the Committee for senior management officials of the Company and the Bank. In the event any sick leave time shall not have been used during any year, such leave shall accrue
to subsequent years only to the extent authorized by each Board of Directors or the Committee in its sole discretion. Upon termination of the Employee’s employment with the Company and the Bank, the Employee shall not be entitled to receive any
additional compensation from the Company and the Bank for unused sick leave, except to the extent authorized by each Board of Directors or the Committee. 
 7. Termination of Employment. 
 (a) Involuntary Termination. Subject
to the applicable provisions of this Section 7, and the notice provisions in Section 8, the Board of Directors may terminate the Employee’s employment at any time, but, except in the case of Termination for Cause, termination of
employment shall not prejudice the Employee’s right to compensation or other benefits under this Agreement. In the event of Involuntary Termination by the Company and the Bank or the Employee, other than after a Change in Control, the Company
and the Bank jointly shall (1) pay to the Employee, over the remaining term of this Agreement (but not less than one year nor more than two years from the Date of Termination), an amount equal to two times’ the Employee’s Salary (at
the rate in effect immediately prior to the Date of Termination, and in accordance with the Bank’s payroll practices and subject to applicable withholding requirements), (2) pay to the Employee any bonus or other incentive compensation to
which the Employee has a legally binding right as of the Date of Termination in accordance with the 

  
 7 

 
payment terms of the incentive compensation arrangement, and (3) provide to the Employee, over the period described in Section 7(a)(1) (subject to the minimum and maximum terms provided
for therein) substantially the same group life insurance, hospitalization, medical, dental, prescription drug and other health benefits, and long-term disability insurance (if any) for the benefit of the Employee and his dependents and beneficiaries
who would have been eligible for such benefits if the Employee had not suffered Involuntary Termination, on terms substantially as favorable to the Employee, taking into account the amounts of coverage and deductibles and other costs to him, as if
he had not suffered Involuntary Termination (except that any such coverage shall cease if and when the Employee is no longer covered under an insurance program made available by the Bank to employees generally). In addition, any equity awards
granted to the Employee by the Company (under the 2010 Omnibus Equity Plan or otherwise) that are subject to vesting, performance or target requirements shall be treated as having satisfied such vesting, performance or target requirements as of the
date of the Employee’s Involuntary Termination. 
 (b) Termination for Cause. In the event of Termination for Cause,
the Company and the Bank shall jointly pay to the Employee the Salary and provide benefits under this Agreement only through the Date of Termination, and shall have no further obligation to the Employee under this Agreement. 

(c) Voluntary Termination. The Employee’s employment may be voluntarily terminated by the Employee at any time upon at least
90 days’ written notice to the Company and the Bank or such shorter period as may be agreed upon between the Employee and the Board of Directors. In the event of such voluntary termination, the Company and the Bank shall be jointly obligated to
continue to pay to the Employee the Salary and provide benefits under this Agreement only through the Date of Termination, at the time such payments are due, and shall have no further obligation to the Employee under this Agreement. 

(d) Change in Control. In the event of an Involuntary Termination within 12 months after a Change in Control, the Company and the
Bank jointly shall (1) pay to the Employee in a lump sum in cash within 25 business days after the Date of Termination an amount equal to 2.99 times the Employee’s “base amount” (as defined in Code Section 280G); and
(2) provide to the Employee during the remaining term of this Agreement (subject to the minimum and maximum terms described in Section 7(a)(1)), substantially the same group life insurance, hospitalization, medical, dental, prescription
drug and other health benefits, and long-term disability insurance (if any) for the benefit of the Employee and his dependents and beneficiaries who would have been eligible for such benefits if the Employee had not suffered Involuntary Termination,
on terms substantially as favorable to the Employee, taking into account the amounts of coverage and deductibles and other costs to him, as if he had not suffered Involuntary Termination. In addition, any equity awards granted to the Employee by the
Company (under the 2010 Omnibus Equity Plan or otherwise) that are subject to vesting, performance or target requirements shall be treated as having satisfied such vesting, performance or target requirements as of the date of the Employee’s
Involuntary Termination. Notwithstanding any other provision of this Agreement, if payments and the value of benefits 

  
 8 

 
received or to be received under this Agreement, together with any other amounts and the value of benefits received or to be received by the Employee, would cause any amount to be nondeductible
by the Company or any of the Consolidated Subsidiaries for federal income tax purposes pursuant to or by reason of Code Section 280G, then payments and benefits under this Agreement shall be reduced (not less than zero) to the extent necessary
so as to maximize the economic present value of benefits to be received by the Employee, as determined by the Compensation Committee of the Company Board of Directors as of the date of the Change in Control using the discount rate required by Code
Section 280G(d)(4), without causing any amount to become nondeductible pursuant to or by reason of Code Section 280G. 

(e) Death. In the event of the death of the Employee while employed under this Agreement and prior to any termination of
employment, the Company and the Bank jointly shall pay to the Employee’s estate, or such person as the Employee may have previously designated in writing, the Salary which was not previously paid to the Employee and which he would have earned
if he had continued to be employed under this Agreement through the last day of the calendar month in which the Employee died, together with the benefits provided hereunder through such date. 

(f) Disability. If the Employee becomes entitled to benefits under the terms of the then-current disability plan, if any, of the
Company or the Bank (the “Disability Plan”) or becomes otherwise unable to fulfill his duties under this Agreement, he shall be entitled to receive such group and other disability benefits, if any, as are then provided by the Company or
the Bank for executive employees. In the event of such disability, this Agreement shall not be suspended, except that (i) the obligation to pay the Salary to the Employee shall be reduced in accordance with the amount of disability income
benefits received by the Employee, if any, pursuant to this paragraph such that, on an after-tax basis, the Employee shall realize from the sum of disability income benefits and the Salary the same amount as he would realize on an after-tax basis
from the Salary if the obligation to pay the Salary were not reduced pursuant to this Section 7(f); and (ii) upon a resolution adopted by a majority of the disinterested members of the Board of Directors or the Committee, the Company or
the Bank may discontinue payment of the Salary beginning six months following a determination that the Employee has become entitled to benefits under the Disability Plan or otherwise unable to fulfill his duties under this Agreement. If the
Employee’s disability does not constitute a disability within the meaning of Section 409A, and the Employee is a “specified employee” within the meaning of Section 409A, then payments under this Section 7(f) shall not
commence until the earlier of the Employee’s death or the sixth month anniversary of the Employee’s Separation from Service, with any delayed payments being made with the first permissible payment. 

(g) Limitations on Payments Under Sections 7(a) and 7(d). 

(1) No benefit shall be paid under Section 7(a) or Section 7(d) if the Employee’s termination of employment is not on
account of an Involuntary Termination or if the Employee is Terminated for Cause. No benefit shall be paid under Section 7(d) unless a Change in Control has occurred. 

  
 9 

 (2) If amounts are payable under Section 7(a), then no amount shall be due under
Section 7(d), and vice versa. 
 (3) No payment shall be made under Section 7(a) or Section 7(d) that would
cause the Bank to be “undercapitalized” for purposes of 12 C.F.R. Part 325 or any successor provision. 
 (4)
Payments due under Sections 7(a) and 7(d) shall be conditioned on the Employee’s signing of a release substantially in the form provided in Exhibit A, which is attached hereto and incorporated into this Agreement by this reference. 

(5) Payments due under Section 7(a) and 7(d) shall be conditioned on the Employee’s compliance with Sections 9, 10 and 11 of
this Agreement. If the Employee does not comply with Sections 9, 10 or 11 of this Agreement, then he shall be required to return to the Company and the Bank (upon written request) the amounts received by him under Section 7(a) or
Section 7(d), as the case may be. In the case of noncash benefits, the equivalent value of the benefit shall be repaid, as determined by the Company (or in the case of a Change in Control, its successor). 

(6) To the extent the taxable payments under Section 7(a) or Section 7(d) would be considered deferred
compensation to which no exception under Section 409A applies (e.g., short-term deferrals), and the Employee is considered a “specified employee” (as defined in Section 409A), then no deferred compensation shall be paid until the
185th day following the Employee’s Separation from
Service (and any deferred compensation the payment of which is delayed on account of the foregoing shall be paid on such
185th day). The preceding sentence shall be applied by
(i) treating as much of the payment as “separation pay due to involuntary separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(b)(9)) (“Separation Pay”) as is possible, so that such
Separation Pay may be paid without regard to the preceding sentence, and (ii) treating the Separation Pay as paid prior to the deferred compensation, to the extent permitted by Section 409A. 

(7) If paying or providing any benefit described in Section 7(a) or Section 7(d) would give rise to an excise tax to the
Company or the Bank or not be deductible by the Company or the Bank (other than on account of Section 162(m) of the Code), or the coverage is no longer available to the Employee but still is available to employees generally, then the Company,
at its sole discretion, may not provide such benefit to the Employee, and instead provide the Employee (in consultation with the Bank and the Employee) with an alternative form of compensation with an equivalent value to the benefit(s) that is not
paid. 
 (8) Notwithstanding anything herein to the contrary, no amount shall be payable under Section 7(a) or
Section 7(d) if such payment becomes an obligation of the Company or the Bank while the Company is a TARP Recipient during the TARP Period and the Employee is not permitted to receive those payments under the TARP Requirements (on account of
being an SEO, MHCE, or otherwise). 

  
 10 

 (h) Temporary Suspension or Prohibition. If the Employee is suspended and/or
temporarily prohibited from participating in the conduct of the Bank’s affairs by a notice served under Section 8(e)(3) or (g)(1) of the FDIA, 12 U.S.C. Section 1818(e)(3) and (g)(1), or pursuant to Section 30.12.040 of the
Revised Code of Washington (“R.C.W.”), the Bank’s obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank may in its
discretion (i) pay the Employee all or part of the compensation withheld while its obligations under this Agreement were suspended and (ii) reinstate in whole or in part any of its obligations which were suspended, all in a manner that
does not violate Section 409A. 
 (i) Permanent Suspension or Prohibition. If the Employee is removed and/or
permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8(e)(4) or (g)(1) of the FDIA, 12 U.S.C. Section 1818(e)(4) and (g)(1), or pursuant to R.C.W. Section 30.12.040, all
obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected. 
 (j) Default of the Bank. If the Bank is in default (as defined in Section 3(x)(1) of the FDIA), all obligations under this Agreement shall terminate as of the date of default, but this
provision shall not affect any vested rights of the contracting parties. 
 (k) Termination by Regulators. All
obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (1) at the time the FDIC enters into an agreement to provide
assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the FDIA; or (2) by the FDIC, at the time it approves a supervisory merger to resolve problems related to operation of the Bank. Any rights of the
parties that have already vested, however, shall not be affected by any such action. 
 (l) Further Reductions. Any
payments made to the Employee pursuant to this Agreement, or otherwise, are subject to and conditioned 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.

 8. Notice of Termination. In the event that the Company or the Bank, or both, desire to terminate the employment of
the Employee during the term of this Agreement, the Company or the Bank, or both, shall deliver to the Employee a written notice of termination, stating whether such termination constitutes Termination for Cause or Involuntary Termination, setting
forth in reasonable detail the facts and circumstances that are the basis for the termination, and specifying the date upon which employment shall terminate, which date shall be at least 30 days after the date upon which the notice is delivered,
except in the case of Termination for Cause. In the event that the Employee determines in good faith that he has experienced an Involuntary Termination of his employment, he shall send a written notice to the Company and the Bank stating the
circumstances that constitute such Involuntary Termination and the date upon which his employment shall have ceased due to such Involuntary Termination. In the event that the Employee desires to effect a Voluntary Termination, he shall deliver a
written notice to the Company and the Bank, stating the date upon which employment shall terminate, which date shall be at least 90 days after the date upon which the notice is delivered, unless the parties agree to a date sooner. 

  
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 9. Noncompetition; Confidentiality; Nonsolicitation. 

(a) Noncompetition. During the period described in Section 7(a)(1), subject to any minimum or maximum period provided for
therein (the “Noncompete Period”), the Employee shall not become involved, directly or indirectly, with a Competing Business or serve, directly or indirectly, a Competing Business in any manner, including, without limitation, as a
shareholder, member, partner, director, officer, manager, investor, organizer, founder, employee, consultant or agent. However, the Employee may acquire and own an interest not to exceed one percent (1%) of the total equity interest in any
publicly held entity whose securities are listed on a national exchange, whether or not such entity is a Competing Business. “Competing Business” means any financial institution or trust company that maintains a banking office in any
county in which the Company, the Bank or any of its Affiliates maintain a banking office. The term “Competing Business” includes, without limitation, any start-up or other financial institution or trust company in formation. The term
“Affiliates” means any subsidiary of the Company, a Consolidated Subsidiary, or any entity (whether or not incorporated) controlled by any of the foregoing entities, specifically including but not limited to Heritage Bank and Central
Valley Bank. 
 (b) Confidential Information. The Employee acknowledges that in the course of the Employee’s
employment, the Employee will have or obtain knowledge of confidential information and other secrets concerning the Company, Heritage Bank and Central Valley Bank and their businesses, plans and strategies, their actual and prospective customers,
and other matters which are valuable to Company, Heritage Bank and Central Valley Bank and which the Company, Heritage Bank and Central Valley Bank do not want disclosed (“Confidential Information”). The Employee will not during and after
the term of this Agreement, disclose to any other person or entity any Confidential Information concerning the Company, Heritage Bank and Central Valley Bank, their business operations or customers, or use for his own purposes or permit or assist
others in the use of such Confidential Information, unless (1) the Company Board of Directors consents to the use or disclosure of the information, (2) the use or disclosure is consistent with the Employee’s duties under this
Agreement, (3) such information is generally available to the public, or (4) disclosure is required by law or court order. 
 (c) Nonsolicitation. During the term of this Agreement and the Noncompete Period, the Employee will not solicit any Customer of the Company or the Bank for services or products then provided by the
Company, Heritage Bank and Central Valley Bank,. For purpose of this Section, “Customers” are defined as (1) all customers serviced by the Company, Heritage Bank and Central Valley Bank, or any of the Consolidated Subsidiaries at any
time within 12 months before termination of the Employee’s employment, (2) all customers and potential customers whom the Company, Heritage Bank and Central Valley Bank, or any of the 

  
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Consolidated Subsidiaries, with the knowledge or participation of the Company, Heritage Bank and Central Valley Bank, or any of the Consolidated Subsidiaries, actively solicited at any time
during 12 months before termination of the Employee’s employment, and (3) all successors, owners, directors, partners and management personnel of the customers described in (1) or (2). 

(d) Nonraiding of Employees. The Employee recognizes that the workforce of the Company, Heritage Bank and Central Valley Bank is a
vital part of their businesses; therefore, during the Noncompete Period, the Employee will not directly or indirectly recruit or solicit any Employee (as defined below) to leave his or her employment with the Company, the Bank, or any of the
Consolidated Subsidiaries. Without limiting the foregoing, this includes that the Employee will not (1) disclose to any third party the names, backgrounds, or qualifications of any of the Employees or otherwise identify them as potential
candidates for employment, or (2) personally or through any other person approach, recruit, interview or otherwise solicit Employees to work for any other employer. For purposes of this Section, “Employees” means all employees working
for the Company, Heritage Bank and Central Valley Bank, or any of the Consolidated Subsidiaries at the time of the Employee’s Date of Termination. 
 (e) Injunctive Relief. The Employee acknowledges that it is impossible to measure in money the damages that will accrue to the Company, Heritage Bank and Central Valley Bank, if the Employee fails
to observe the covenants in this Section 9 (the “Restrictive Covenants”); therefore, the Restrictive Covenants may be enforced by an action at law for damages and by an injunction or other equitable remedies to prohibit the restricted
activity. The Employee hereby waives the claim or defense that an adequate remedy at law is available to the Company, Heritage Bank and Central Valley Bank. Nothing set forth herein shall prohibit the Company, Heritage Bank and Central Valley Bank
from pursuing all remedies available to them. 
 (f) Reasonableness. The parties agree that this Agreement in its
entirety, and in particular the Restrictive Covenants, are reasonable both as to time and scope. The parties additionally agree (1) that the Restrictive Covenants are necessary for the protection of the Company and the Bank’s business and
goodwill; (2) that the Restrictive Covenants are not any greater than are reasonably necessary to secure the Company and the Bank’s business and goodwill; and (3) that the degree of injury to the public due to the loss of the service
and skill of the Employee or the restrictions placed upon the Employee’s opportunity to make a living with the Employee’s skills upon enforcement of said restraints, does not and will not warrant non-enforcement of said restraints. The
parties agree that if the scope of the Restrictive Covenants is adjudged too broad to be capable of enforcement, then the parties authorize said court or arbitrator to narrow the Restrictive Covenants so as to make them capable of enforcement, given
all relevant circumstances, and to enforce the same. 
 (g) Survival. This Section 9 shall survive the termination
of this Agreement. 
 10. Creative Work. The Employee agrees that all creative work and work product, including but not
limited to all technology, business management tools, processes, software, patents, trademarks, and copyrights developed by the Employee during employment with the Company and the Bank, regardless of when or where such work or work product was
produced, constitutes work made for hire, all rights of which are owned by the Company or the Bank. The 

  
 13 

 
Employee hereby assigns to the Bank or the Company, as they may designate, all rights, title, and interest, whether by way of copyrights, trade secret, trademark, patent, or otherwise, in all
such work or work product, regardless of whether the same is subject to protection by patent, trademark, or copyright laws. 

11. Return of Property. If and when the Employee ceases for any reason to be employed by the Company and the Bank, the Employee
shall, on the Date of Termination, return to the Company and the Bank all keys, pass cards, identification cards and any other property of the Company or the Bank, and disclose all computer user identifications and passwords used by Employee in the
course of employment or necessary for accessing information on Company and the Bank’s computer systems. At the same time, the Employee also must return to the Company and the Bank no later than the Date of Termination, all originals and copies
(whether in hard copy, electronic or other form) of any documents, drawings, notes, memoranda, designs, devices, diskettes, tapes, manuals, and specifications which constitute proprietary information or material of the Company and the Bank. The
obligations in this paragraph include the return of documents and other materials that may be in any location under the Employee’s control. 
 12. No Assignments. 
 (a) This Agreement is personal to each of the parties
hereto, and no party may assign or delegate any of its rights or obligations hereunder without first obtaining the written consent of the other party; provided, however, that the Company and the Bank shall require any successor or assign
(whether direct or indirect, by purchase, merger, consolidation or otherwise) by an assumption agreement in form and substance satisfactory to the Employee, to expressly assume and agree to perform this Agreement in the same manner and to the same
extent that the Company and/or the Bank would be required to perform it, if no such succession or assignment had taken place. Failure to obtain such an assumption agreement prior to the effectiveness of any such succession or assignment shall be a
breach of this Agreement and shall entitle the Employee to compensation and benefits from the Company and the Bank in the same amount and on the same terms as the compensation and benefits that would be payable to Employee pursuant to
Section 7(d) of this Agreement without regard to whether a Change in Control has occurred. For purposes of implementing the provisions of this Section 12(a), the date on which any such succession becomes effective shall be deemed the Date
of Termination. 
 (b) This Agreement and all rights of the Employee hereunder shall inure to the benefit of and be enforceable
by the Employee’s personal and legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. In the event of the death of the Employee, unless otherwise provided herein, all amounts payable hereunder
shall be paid to the Employee’s devisee, legatee, or other designee or, if there be no such designee, to the Employee’s estate. 
 13. Notice. For the purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when personally
delivered or sent by certified mail, return receipt requested, postage prepaid, to 

  
 14 

 
the Company and the Bank at their home offices, to the attention of the Board of Directors with a copy to the Secretary of the Company and the Secretary of the Bank, or, if to the Employee, to
such home or other address as the Employee has most recently provided in writing to the Company or the Bank. 
 14.
Amendments. No amendments or additions to this Agreement shall be binding unless in writing and signed by both parties, except as herein otherwise provided. 
 15. Headings. The headings used in this Agreement are included solely for convenience and shall not affect, or be used in connection with, the interpretation of this Agreement. 

16. Severability. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any
provision shall not affect the validity or enforceability of the other provisions hereof. 
 17. Governing Law. This
Agreement shall be governed by the laws of the State of Washington. 
 18. Arbitration. Any dispute or controversy
arising under or in connection with this Agreement shall be settled exclusively by arbitration in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any court
having jurisdiction. Notwithstanding the foregoing, the Company, the Bank or both may resort to the Superior Court of Thurston County, Washington for injunctive and such other relief as may be available in the event that the Employee engages in
conduct, after termination of the Agreement that amounts to a violation of the Washington Trade Secrets Act or amounts to unlawful interference with the business expectations of the Company or the Bank. The FDIC may appear at any arbitration hearing
but the decision is not binding on the FDIC. 
 19. Deferral of Non-Deductible Compensation. In the event that the
Employee’s aggregate compensation (including compensatory benefits which are deemed remuneration for purposes of Code Section 162(m)) from the Company and the Consolidated Subsidiaries for any calendar year exceeds the maximum amount of
compensation deductible by the Company or any of the Consolidated Subsidiaries in any calendar year under Code Section 162(m) (the “maximum allowable amount”), then any such amount in excess of the maximum allowable amount shall be
mandatorily deferred with interest thereon at four percent (4%) per annum to a calendar year such that the amount to be paid to the Employee in such calendar year, including deferred amounts and interest thereon, does not exceed the maximum
allowable amount. Subject to the foregoing, deferred amounts including interest thereon shall be payable at the earliest time permissible, as required by Section 409A. 
 20. Global TARP Limitation. Notwithstanding anything herein to the contrary: during the TARP Period all amounts payable hereunder shall be subject to and limited by the TARP Requirements as in
effect from time to time (regardless of whether the terms hereof specifically refer to TARP or the TARP Requirements). The Employee hereby voluntarily 

  
 15 

 
waives any claim against the Company or the Bank for any changes to his compensation, bonus, incentive and other benefit plans, arrangements, policies and agreements (including golden parachute
agreements and tax gross-ups) that are required to comply with the TARP Requirements (regardless of whether the compensation, benefit or other amount is payable under this Agreement). This waiver includes all claims the Employee may have under the
laws of the United States or any state related to the requirements imposed by the TARP Requirements, including, without limitation, a claim for any compensation or other payments Employee would otherwise receive. 

21. Adjustments to Comply with Final Interagency Guidance on Sound Incentive Compensation Policies. Notwithstanding anything
herein to the contrary, the compensation or benefits provided under this Agreement are subject to modification, elimination, adjustment, deferral or return as necessary to comply with requirements imposed by the Company’s Board of Directors to
comply with the “Final Interagency Guidance on Sound Incentive Compensation Policies” issued on an interagency basis by the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation
and the Office of Thrift Supervision, effective June 25, 2010 (the “Interagency Guidance Compliance Requirements”). The Employee hereby voluntarily waives any claim against the Company or the Bank for any changes to his compensation,
bonus, incentive and other benefit plans, arrangements or policies provided for under this Agreement that are required to comply with the Interagency Guidance Compliance Requirements. 

22. Scope of Company and Bank Obligations. Although the Company and the Bank have jointly obligated themselves to the Employee
under certain provisions of this Agreement, in no event is the Employee entitled to more than what is provided for hereunder, i.e., no duplicative payments shall be provided for hereunder. 

23. Knowing and Voluntary Agreement. Employee represents and agrees that he has read this Agreement, understands its terms, and
that he has the right to consult counsel of choice and has either done so or knowingly waives the right to do so. Employee also represents that he has had ample time to read and understand the Agreement before executing it and that he enters into
this Agreement without duress or coercion from any source. 
 * * * * * 

  
 16 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first
above written. 
 THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION WHICH MAY BE ENFORCED BY THE PARTIES. 

 

							
	Attest:	 		 	
			
		 		 	HERITAGE FINANCIAL CORPORATION
				
	         /s/ Kaylene Lahn
	 		 	By:	 	 /s/ Kimberly Ellwanger

	Kaylene Lahn, Corporate Secretary	 		 		 	
		 		 	Its:	 	 Compensation Committee Chair

			
	Attest:	 		 	
		 		 	HERITAGE BANK
				
	         /s/ Kaylene Lahn
	 		 	By:	 	 /s/ Kimberly Ellwanger

	Kaylene Lahn, Corporate Secretary	 		 		 	
		 		 	Its:	 	 Compensation Committee Chair

			
		 		 	EMPLOYEE
			
		 		 	     /s/ Brian L. Vance

  
 17

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