Document:

SPECIMEN OF GLOBAL NOTE REPRESENTING THE 7.125% SENIOR NOTES DUE 2024

 Exhibit 4.2 

THIS NOTE IS A GLOBAL SECURITY AND IS REGISTERED IN THE NAME OF THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED, AS NOMINEE OF THE BANK OF
NEW YORK MELLON, LONDON BRANCH, AS COMMON DEPOSITARY (THE “COMMON DEPOSITARY”) FOR CLEARSTREAM BANKING, SOCIÉTÉ ANONYME AND EUROCLEAR BANK S.A./N.V. UNLESS AND UNTIL THIS NOTE IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN
DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE COMMON DEPOSITARY OR ANOTHER DEPOSITARY OR BY THE COMMON DEPOSITARY OR A NOMINEE OF THE COMMON DEPOSITARY TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

 AMÉRICA MÓVIL, S.A.B. DE C.V. 

7.125% Senior Notes due 2024 
 ISIN
Number: XS1075314911/Common Code: 107531491 
  

			
	No.1	 	Ps.7,500,000,000

 América Móvil, S.A.B. de C.V. (the “Company”, which term includes any successor Person
under the Indenture hereinafter referred to), a sociedad anónima bursátil de capital variable organized and existing under the laws of the United Mexican States (“Mexico”), for value received, hereby promises to pay to
The Bank of New York Depository (Nominees) Limited, or registered assigns, as the nominee of The Bank of New York Mellon, London Branch, as common depositary for Clearstream Banking, société anonyme and Euroclear Bank, S.A./N.V., the
principal sum of Seven Billion Five Hundred Million Mexican pesos, as revised by the Schedule of Increases and Decreases in Global Note attached hereto on December 9, 2024 (unless earlier redeemed, in which case, on the applicable Redemption
Date) and to pay interest thereon from June 9, 2014 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, as the case may be, semiannually in arrears, on June 9 and on December 9 of each
year, commencing on December 9, 2014 at the rate of 7.125% per annum, until the principal hereof is paid or made available for payment; provided that any principal of, and any premium and interest on, this Note which is overdue
shall bear interest (to the extent that payment thereof shall be legally enforceable) at the rate per annum then borne by this Note from the date such amount is due to but not including the day it is paid or made available for payment, and such
overdue interest shall be paid as provided in Section 306 of the Base Indenture. 
 Interest on the Notes shall be calculated on the
basis of a 360-day year and the actual number of days elapsed from and including the last Interest Payment Date (or, with respect to interest payable on the first Interest Payment Date, from the issue date of this Note) to but excluding the Interest
Payment Date on which the interest payment falls due. 
 The interest so payable, and punctually paid or duly provided for, on any Interest
Payment Date shall, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest, which shall be the day on which
Clearstream and Euroclear are open for business next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for on any Interest Payment Date shall forthwith cease to be payable to the Holder

 
on such Regular Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on a Special Record Date for the
payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to the Holder of this Note not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent
with the requirements of any securities exchange on which this Note may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

Payment of the principal of, and premium, if any, and interest on, this Note shall be made at the office of the Trustee or agency of the
Company in the Borough of Manhattan, The City of New York, New York and at the Office of the London Paying Agent and, if and for so long as the Notes are admitted to listing on the Official List of the Luxembourg Stock Exchange and trading on the
Euro MTF Market, at the office of the Luxembourg Paying Agent, in each case maintained for such purpose and at any other office or agency maintained by the Company for such purpose, in Mexican pesos against surrender of this Note in the case of any
payment due at the Maturity of the principal thereof (other than any payment of interest that first becomes payable on a day other than an Interest Payment Date); provided, however, that at the option of the Company, payment of interest may be made
by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. Notwithstanding the foregoing, payment of any amount payable in respect of a Global Note shall be made in accordance with the
Applicable Procedures of the Depositary. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof,
which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
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 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated: June 9, 2014 
  

					
	AMÉRICA MÓVIL, S.A.B. DE C.V.
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

 This is one of the Notes referred to in the within-mentioned Indenture. 

Dated: June 9, 2014 
  

			
	 THE BANK OF NEW YORK MELLON,

as Trustee

		
	By:	 	 
		 	Authorized Officer

  
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 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of securities of the Company (the “Notes”), issued under an indenture, dated as of
June 28, 2012 (the “Base Indenture”), between the Company and The Bank of New York Mellon, as Trustee (the “Trustee,” which term includes any successor trustee under the Indenture), Security Registrar, Paying Agent and
Transfer Agent, as supplemented by the Eleventh Supplemental Indenture dated as of June 9, 2014 (the “Eleventh Supplemental Indenture” and, together with the Base Indenture, the “Indenture”) among the Company, the Trustee,
The Bank of New York Mellon, London Branch, as London Paying Agent, and The Bank of New York Mellon (Luxembourg) S.A., as Luxembourg Paying Agent and Luxembourg Transfer Agent, and reference is hereby made to the Indenture for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. The terms, conditions and
provisions of this Note are those stated in the Indenture (including those made a part of the Indenture by reference to the Trust Indenture Act) and those set forth in this Note. This Note is one of the series designated on the face hereof. 

Additional notes on terms and conditions identical to those of this Note (except for issue date, issue price and the date from which interest
shall accrue and, if applicable, the date on which interest will first be paid) may be issued by the Company without the consent of the Holders of the Notes. The amount evidenced by such additional Notes shall increase the aggregate principal amount
of, and shall be consolidated and form a single series with, the Notes, in which case the Schedule of Increases and Decreases in Global Note attached hereto will be correspondingly adjusted. 

In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Note shall not be a Business Day, then (notwithstanding
any other provision of the Indenture or of the Notes) payment of principal and premium, if any, or interest need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the Interest
Payment Date, Redemption Date or at the Stated Maturity, as the case may be; provided that no interest shall accrue for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be. 

If an Event of Default with respect to the Notes shall occur and be continuing, the principal of all of the Notes may be declared due and
payable in the manner and with the effect provided in the Indenture. 
 All payments of principal, premium, if any, and interest in respect
of the Notes shall be made after withholding or deduction for any present or future taxes, duties, assessments or governmental charges of whatever nature imposed, levied, collected, withheld or assessed by or on behalf of Mexico or any authority
therein or thereof having power to tax (“Mexican Taxes”). In the event of any withholding or deduction for any Mexican Taxes, the Company shall pay such additional interest (“Additional Interest”) as will result in receipt by the
Holders of Notes on the respective due dates of such amounts as would have been received by them had no such withholding or deduction (including for any Mexican Taxes payable in respect of 

  
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Additional Interest) been required, except that no such Additional Interest shall be payable with respect to any payment on a Note to the extent: 

(i) that any such taxes, duties, assessments or other governmental charges are imposed solely because of (A) a connection between the
Holder and Mexico other than the ownership or holding of such Note and the mere receipt of payments with respect to such Note or (B) failure by the Holder or any other Person to comply with any certification, identification or other reporting
requirement concerning the nationality, residence, identity or connection with Mexico of the Holder or any beneficial owner of such Note if compliance is required by law, regulation or by an applicable income tax treaty to which Mexico is a party,
as a precondition to exemption from, or reduction in the rate of, the tax, assessment or other governmental charge, and we have given the Holders at least 30 days’ notice prior to the first payment date with respect to which such
certification, identification or reporting requirement is required, to the effect that Holders will be required to provide such information and identification; 

(ii) of any such taxes, duties, assessments or other governmental charges with respect to such Note presented for payment more than
15 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for and notice thereof given to Holders, whichever occurs later, except to the extent that the Holder of such Note would
have been entitled to such Additional Interest on presenting such Note for payment on any date during such 15-day period; 
 (iii) of
estate, inheritance, gift or other similar taxes, assessments or other governmental charges imposed with respect to such Note; 
 (iv) of
any tax, duty, assessment or other governmental charge payable otherwise than by deduction or withholding from payments on such Note; 
 (v)
of any payment on such Note to a Holder who is a fiduciary or partnership or a person other than the sole beneficial owner of any such payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such a
partnership or the beneficial owner of such payment would not have been entitled to the Additional Interest had such beneficiary, settlor, member or beneficial owner been the Holder of such Note; 

(vi) of any tax, duty, assessment or other governmental charge imposed on a payment to an individual and required to be made pursuant to
European Council Directive 2003/48/EC on the taxation of savings income (as amended from time to time), or any law or agreement implementing or complying with, or introduced in order to conform to, such directive; and 

(vii) any combination of the items in Clauses (i) through (vi) above. 

For purposes of the provisions described in Clause (i) above, the term “Holder” of any Note means the direct nominee of any
beneficial owner of such Note, which holds such beneficial owner’s interest in such Note. Notwithstanding the foregoing, the limitations on the Company’s obligation to pay Additional Interest set forth in Clause (i)(B) above shall not
apply if (a) the provision of information, documentation or other evidence described in such Clause (i)(B) would be materially more onerous, in form, in procedure or in the substance of 

  
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information disclosed, to a Holder or beneficial owner of a Note (taking into account any relevant differences between U.S. and Mexican law, regulation or administrative practice) than comparable
information or other reporting requirements imposed under U.S. tax law (including the United States—Mexico Income Tax Treaty), regulations (including proposed regulations) and administrative practice or (b) Rule I.3.17.11 (or any
successor provision) is in effect, unless the provision of the information, documentation or other evidence described in such Clause (i)(B) is expressly required by statute, regulation, rule or administrative practice in order to apply
Rule I.3.17.11 (or any successor provision) and the Company cannot obtain such information, documentation or other evidence on its own through reasonable diligence and the Company otherwise would meet the requirements for application of
Rule I.3.17.11 (or any successor provision). In addition, such Clause (i)(B) shall not be construed to require that a non-Mexican pension or retirement fund or a non-Mexican financial institution or any other Person register with the
Ministry of Finance and Public Credit for the purpose of establishing eligibility for an exemption from or reduction of Mexican withholding tax. 

The Company shall provide the Trustee with the constancia or other relevant documentation, if any (which may consist of certified
copies of such documentation), satisfactory to the Trustee evidencing the payment of Mexican Taxes in respect of which the Company has paid any Additional Interest. Copies of such documentation shall be made available to the Holders of the Notes or
any Paying Agent, as applicable, upon request therefor. 
 The Company shall pay all stamp, issue, registration, documentary or other
similar duties, if any, which may be imposed by Mexico or any governmental entity or political subdivision therein or thereof, or any taxing authority of or in any of the foregoing, with respect to the Indenture or the issuance of the Notes. 

All references herein and in the Indenture to principal, premium, if any, interest or any other amount payable in respect of any Note shall be
deemed to include all Additional Interest, if any, payable in respect of such principal, premium, interest or other amount payable, unless the context otherwise requires, and express mention of the payment of Additional Interest in any provision
hereof shall not be construed as excluding reference to Additional Interest in those provisions hereof where such express mention is not made. 

In the event that Additional Interest actually paid with respect to the Notes pursuant to the preceding paragraphs is based on rates of
deduction or withholding of withholding taxes in excess of the appropriate rate applicable to the Holder of such Notes, and, as a result thereof, such Holder is entitled to make claim for a refund or credit of such excess from the authority imposing
such withholding tax, then such Holder shall, by accepting such Notes, be deemed to have assigned and transferred all right, title, and interest to any such claim for a refund or credit of such excess to the Company. However, by making such
assignment, the Holder makes no representation or warranty that the Company will be entitled to receive such claim for a refund or credit and incurs no other obligation with respect thereto. 

All references herein and in the Indenture to principal in respect of any Note shall be deemed to mean and include any Redemption Price
payable in respect of such Note pursuant to any redemption right hereunder (and all such references to the Stated Maturity of the principal in respect of any Note shall be deemed to mean and include the Redemption Date with respect to any such
Redemption Price), and all such references to principal, premium, interest or Additional Interest shall be deemed to mean and include any amount payable in respect hereof pursuant to Section 1009 of the Base Indenture. 

  
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 The Company may, at its option, redeem the Notes upon not less than 30 nor more than
60 days’ notice, at any time, in whole but not in part, at a Redemption Price equal to the sum of (A) 100% of the principal amount of the Notes being redeemed, (B) accrued and unpaid interest thereon to the Redemption Date and
(C) any Additional Interest which would otherwise be payable thereon up to but not including the Redemption Date, solely if, as a result of any amendment to, or change in, the laws (or any rules or regulations thereunder) of Mexico or any
political subdivision or taxing authority thereof or therein affecting taxation or any amendment to or change in an official interpretation or application of such laws, rules or regulations, which amendment to or change in such laws, rules or
regulations becomes effective on or after June 9, 2014, the Company would be obligated, after making reasonable endeavors to avoid such requirement, to pay Additional Amounts in excess of the Additional Amounts that the Company would be
obligated to pay if payments made on the Notes were subject to withholding or deduction of Mexican Taxes at the rate of 4.9%; provided, however, that (1) no notice of redemption pursuant to this clause may be given earlier than
90 days prior to the earliest date on which the Company would be obligated to pay such Additional Amounts if a payment on the Notes were then due and (2) at the time such notice of redemption is given, the Company’s obligation to pay
such Additional Amounts remains in effect. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company, on the one hand, and the rights of the Holders of the Notes, on the other hand, at any time by the Company and the Trustee with the consent of the Holders of a majority in principal
amount of the Notes at the time Outstanding. The Indenture also contains provisions (1) permitting the Holders of a majority in principal amount of the Notes at the time Outstanding, on behalf of the Holders of all Notes, to waive compliance by
the Company with certain provisions of the Indenture and (2) permitting the Holders of a majority in principal amount of the Notes at the time Outstanding, on behalf of the Holders of all Notes, to waive certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in
exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 
 As provided in and subject
to the provisions of the Indenture, the Holder of this Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder
shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Notes, the Holders of not less than 25% in principal amount of the Notes at the time Outstanding shall have made written request to the
Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Notes at
the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit
instituted by the Holder of this Note for the enforcement of any payment of principal hereof or premium, if any, and/or interest hereon on or after the respective due dates expressed herein. 

  
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 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and premium, if any, and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture, and subject to certain limitations therein set forth (including, without limitation, the restrictions on
transfer under Section 304 of the Base Indenture), the transfer of this Note is registrable in the Security Register, upon surrender of this Note for registration of transfer at the office of the Trustee or agency of the Company in any place
where the principal of and any premium and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or
his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, shall be issued to the designated transferee or transferees. 

The Notes are issuable only in registered form without coupons in denominations of Ps.2,000,000 and integral multiples of Ps.10,000 in excess
thereof. As provided in the Indenture, and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal amount of Notes of like tenor of a different authorized denomination, as requested by the Holder
surrendering the same. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company or the Trustee
may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due
presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or of the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note
is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This Note is a Global
Note and is subject to the provisions of the Indenture relating to Global Notes, including the limitations in Section 304 of the Base Indenture on transfers and exchanges of Global Notes. 

This Note and the Indenture shall be governed by, and construed in accordance with, the law of the State of New York. 

All terms used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in
the Indenture. 
  
  

ABBREVIATIONS 

  
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 The following abbreviations, when used in the inscription of the face of this Note, shall be
construed as though they were written out in full according to applicable laws or regulations: 
  

					
	TEN COM -	  	as tenants in common	  	 UNIF GIFT MIN ACT — ___________

                          
                      (Cust)

	TEN ENT -	  	as tenants by the entireties	  	 Custodian
                        under Uniform

                      (Minor)

	JT TEN -	  	as joint tenants with right of
survivorship and not as
tenants in common	  	 Gifts to Minors Act
                    

                          
          (State)

 Additional abbreviations may also be used 

though not in the above list. 
  

 

  
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 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 

The following increases or decreases in this Global Note have been made: 

 

									
	 Date of
 transfer or

exchange
	 	 Amount of decrease
 in principal amount

of this Global Note
	 	 Amount of increase
 in principal amount

of this Global Note
	 	 Principal amount of
 this Global Note

following such

decrease or increase
	 	 Signature of
 authorized signatory

of Trustee or Security

RegistrarEX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

This Employment Agreement (the “Agreement”) is made effective as of
            , 2014 (the “Effective Date”), by and between Pilgrim Bank (the “Bank”) and Francis E. Campbell (“Executive”). Any reference to the
“Company” shall mean Pilgrim Bancshares, Inc. the stock holding company of the Bank. 
 WHEREAS, the Bank wishes to assure
itself of the continued services of Executive for the period provided in this Agreement; and 
 WHEREAS, in order to induce
Executive to remain in the employ of the Bank and to provide further incentive for Executive to achieve the financial and performance objectives of the Bank, the parties desire to enter into this Agreement; and 

WHEREAS, the Bank desires to set forth the rights and responsibilities of Executive and the compensation payable to Executive, as
modified from time to time. 
 NOW, THEREFORE, in consideration of the mutual covenants herein contained, and upon the other
terms and conditions hereinafter provided, the parties hereby agree as follows: 
 1. POSITION AND RESPONSIBILITIES. 

During the term of this Agreement, Executive agrees to serve as President and Chief Executive Officer of the Bank (the “Executive
Position”), and will perform the duties and will have all powers associated with such position as set forth in any job description provided to Executive by the Bank, and as may be set forth in the bylaws of the Bank. During the period provided
in this Agreement, Executive also agrees to serve, if elected, as an officer of any subsidiary or affiliate of the Bank and in such capacity carry out such duties and responsibilities reasonably appropriate to that office. 

2. TERM AND DUTIES. 
 (a) The term of this
Agreement and the period of Executive’s employment hereunder shall begin as of the Effective Date and shall continue for thirty-six (36) full calendar months thereafter. Commencing on the first anniversary date following the Effective Date
and continuing on each anniversary date thereafter (the “Anniversary Date”), this Agreement shall renew for an additional year such that the remaining term shall be thirty-six (36) months, provided, however, that in order for this
Agreement to renew, the disinterested members of the Board of Directors of the Bank (the “Board”) must take the following actions within the time frames set forth below prior to each Anniversary Date: (i) at least sixty (60) days
prior to the Anniversary Date, conduct a comprehensive performance evaluation and review of Executive for purposes of determining whether to extend this Agreement; and (ii) affirmatively approve the renewal or non-renewal of this Agreement,
which such decision shall be included in the minutes of the Board’s meeting. If the decision of such disinterested members of the Board is not to renew this Agreement, then the Board shall provide Executive with a written notice of non-renewal
(“Non-Renewal Notice”) at least thirty (30) days and not more than sixty (60) days prior to any Anniversary Date, such that this Agreement shall terminate at the end of thirty-six
(36)

 
months following such Anniversary Date. The failure of the disinterested members of the Board to take the actions set forth herein before any Anniversary Date will result in the automatic
non-renewal of this Agreement, even if the Board fails to affirmatively issue the Non-Renewal Notice to Executive. If the Board fails to inform Executive of its determination regarding the renewal or non-renewal of this Agreement, the Executive may
request, in writing, the results of the Board’s action (or non-action) and the Board shall, within thirty (30) days of the receipt of such request, provide a written response to Executive. Reference herein to the term of this Agreement
shall refer to both such initial term and such extended terms. 
 (b) Notwithstanding the foregoing, in the event that the Bank or the
Company has entered into an agreement to effect a transaction which would be considered a Change in Control as defined under Section 5 hereof, then the term of this Agreement shall automatically be extended for thirty-six (36) months
following the date on which the Change in Control occurs. 
 (c) During the period of his employment hereunder, except for periods of absence
occasioned by illness, reasonable vacation periods, and reasonable leaves of absence, Executive will devote all of his business time, attention, skill and efforts to the faithful performance of his duties under this Agreement, including activities
and duties related to the Executive Position. Notwithstanding the preceding sentence, subject to the approval of the Board, Executive may serve as a member of the board of directors of business, community and charitable organizations, provided that
in each case such service shall not materially interfere with the performance of his duties under this Agreement, adversely affect the reputation of the Bank or any other affiliates of the Bank, or present any conflict of interest. 

(d) Nothing in this Agreement shall mandate or prohibit a continuation of Executive’s employment following the expiration of the term of
this Agreement. 
 3. COMPENSATION, BENEFITS AND REIMBURSEMENT. 

(a) Base Salary. In consideration of Executive’s performance of the responsibilities and duties set forth in this Agreement,
the Bank will provide Executive the compensation specified in this Agreement. The Bank will pay Executive a salary of $             per year (“Base Salary”). Such Base
Salary will be payable in accordance with the customary payroll practices of the Bank. During the term of this Agreement, the Board may consider increasing, but not decreasing (other than a decrease which is applicable to all senior officers of the
Bank and in a percentage not in excess of the percentage decrease for other senior officers), Executive’s Base Salary as the Board deems appropriate. Any change in Base Salary will become the “Base Salary” for purposes of this
Agreement. 
 (b) Bonus. Executive shall be entitled to participate in any bonus plan or arrangements of the Bank in which the
Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of the other compensation to which Executive is entitled under this Agreement. 

(c) Benefit Plans. Executive will be entitled to participate in all employee benefit plans, arrangements and perquisites offered
to employees and officers of the Bank, including a car allowance of $750 per month, a health club membership of $60 per month and a golf club 

  
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membership not to exceed $4,200 per year. Without limiting the generality of the foregoing provisions of this Section 3(c), Executive also will be entitled to participate in any employee
benefit plans including but not limited to retirement plans, pension plans, profit-sharing plans, health-and-accident plans, or any other employee benefit plan or arrangement made available by the Bank in the future to management employees, subject
to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements. 
 (d)
Vacation. Executive will be entitled to paid vacation time each year during the term of this Agreement measured on a calendar year basis, in accordance with the Bank’s customary practices, as well as sick leave, holidays and other
paid absences in accordance with the Bank’s policies and procedures for officers. Any unused paid time off during an annual period will be treated in accordance with the Bank’s personnel policies as in effect from time to time, provided,
however that the Executive shall be permitted to carryover up to eight weeks of unused vacation time to a subsequent calendar year or years. Notwithstanding the foregoing, the Executive shall not be entitled to receive a cash payment for any earned
but unused vacation time. 
  (e) Expense Reimbursements. The Bank will reimburse Executive for all reasonable travel,
entertainment and other reasonable expenses incurred by Executive during the course of performing his obligations under this Agreement, including, without limitation, fees for memberships in such organizations as Executive and the Board mutually
agree are necessary and appropriate in connection with the performance of his duties under this Agreement, upon substantiation of such expenses in accordance with applicable policies and procedures of the Bank. All reimbursements pursuant to this
Section 3(e) shall be paid promptly by the Bank and in any event no later than thirty (30) days following the date on which the expense was incurred. 

(f) To the extent not specifically set forth in this Section 3, any compensation payable or provided under this Section 3 shall be
paid or provided no later than two and one-half (2.5) months after the calendar year in which such compensation is no longer subject to a substantial risk of forfeiture within the meaning of Treasury Regulation Section 1.409A-1(d). 

4. TERMINATION AND TERMINATION PAY. 

Subject to Section 5 of this Agreement which governs the occurrence of a Change in Control, Executive’s employment under this
Agreement may be terminated in the following circumstances: 
 (a) Death. Executive’s employment under this Agreement will
terminate upon his death during the term of this Agreement, in which event Executive’s estate or beneficiary shall be paid Executive’s Base Salary at the rate in effect at the time of Executive’s death for a period of one
(1) year following Executive’s death (payable in accordance with the regular payroll practices of the Bank). In addition, for the later of: (i) the remaining term of this Agreement or (ii) one (1) year following
Executive’s death, the Bank will continue to provide non-taxable medical and dental coverage substantially comparable to the coverage maintained by the Bank for Executive and his family immediately prior to Executive’s death. Such
continued benefits will be fully paid for by the Bank. 

  
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 (b) Disability. Termination of Executive’s employment based on
“Disability” shall mean termination because of any permanent and totally physical or mental impairment that restricts Executive from performing all the essential functions of normal employment. In the event of Executive’s termination
due to Disability, Executive will be entitled to disability benefits, if any, provided under a long term disability plan sponsored by the Bank, if applicable. 

(c) Termination for Cause. The Board may immediately terminate his employment at any time for “Cause.” Executive shall
have no right to receive compensation or other benefits for any period after termination for Cause, except for already vested benefits. Termination for “Cause” shall mean termination because of, in the good faith determination of the
Board, Executive’s: 
 (i) material act of dishonesty or fraud in performing Executive’s duties on behalf of the
Bank; 
 (ii) willful misconduct that in the judgment of the Board will likely cause economic damage to the Bank or injury to
the business reputation of the Bank; 
 (iii) incompetence (in determining incompetence, the acts or omissions shall be
measured against standards generally prevailing in the savings institutions industry); 
 (iv) breach of fiduciary duty
involving personal profit; 
 (v) intentional failure to perform stated duties under this Agreement after written notice
thereof from the Board; 
 (vi) willful violation of any law, rule or regulation (other than traffic violations or similar
offenses which results only in a fine or other non-custodial penalty) that reflect adversely on the reputation of the Bank, any felony conviction, any violation of law involving moral turpitude, or any violation of a final cease-and-desist order;
any violation of the policies and procedures of the Bank as outlined in the Bank’s employee handbook, which would result in termination of the Bank employees, as from time to time amended and incorporated herein by reference, or 

(vii) material breach by Executive of any provision of this Agreement. 

Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Cause unless and until there shall
have been delivered to Executive a notice of termination which shall include a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the disinterested members of the Board that Executive was guilty of the conduct
described above and specifying the particulars of such conduct. 
 (d) Voluntary Termination by Executive. In addition to his
other rights to terminate his employment under this Agreement, Executive may voluntarily terminate employment during the term of this Agreement (other than “With Good Reason” as defined below) upon at least thirty (30) days prior
written notice to the Board. Upon Executive’s voluntary termination, Executive will receive only his compensation and vested rights and benefits as of the date of his termination. 

  
 4 

 (e) Termination Without Cause or With Good Reason. 

 

	 	(i)	The Board may immediately terminate his employment at any time for a reason other than Cause (a termination “Without Cause”), and Executive may, by written notice to the Board, terminate this Agreement at any
time within ninety (90) days following an event constituting “Good Reason,” as defined below (a termination “With Good Reason”); provided, however, that the Bank shall have thirty (30) days to cure the “Good
Reason” condition, but the Bank may waive its right to cure. Any termination of Executive’s employment, other than Termination for Cause shall have no effect on or prejudice the vested rights of Executive under the Bank’s qualified or
non-qualified retirement, pension, savings, thrift, profit-sharing or bonus plans, group life, health (including hospitalization, medical and major medical), dental, accident and long term disability insurance plans or other employee benefit plans
or programs, or compensation plans or programs in which Executive was a participant. 

  

	 	(ii)	In the event of termination as described under Section 4(e)(i) and subject to the requirements of Section 4(e)(v), the Bank shall pay Executive, or in the event of Executive’s subsequent death,
Executive’s beneficiary or estate, as the case may be, as severance pay, a cash lump sum payment equal to two (2) times his highest annual rate of Base Salary earned by Executive during the calendar year of Executive’s date of
termination or either of the three (3) calendar years immediately preceding Executive’s date of termination. Such payment shall be made to Executive within thirty (30) days following Executive’s date of termination.

  

	 	(iii)	 In addition, the Bank will continue to provide to Executive life insurance coverage and non-taxable medical and dental insurance coverage
substantially comparable (and on substantially the same terms and conditions) to the coverage maintained by the Bank for Executive immediately prior to his termination under the same cost-sharing arrangements that apply for active employees of the
Bank as of Executive’s date of termination. Such continued coverage shall cease upon the earlier of: (A) the date which is two (2) years from Executive’s date of termination or (B) the date on which Executive becomes a
full-time employee of another employer, provided Executive is entitled to the benefits that are substantially similar to the health and welfare benefits provided by the Bank. The period of continued health coverage required by Section 4980B(f)
of the Internal Revenue Code of 1986, as amended (the “Code”), shall run concurrently with the coverage period provided herein. If the Bank cannot provide one or more of the benefits set forth in

  
 5 

	 	
this paragraph because Executive is no longer an employee, applicable rules and regulations prohibit such benefits or the payment of such benefits in the manner contemplated, or it would subject
the Bank to penalties, then the Bank shall pay Executive a cash lump sum payment reasonably estimated to be equal to the value of such benefits or the value of the remaining benefits at the time of such determination. Such cash payment shall be made
in a lump sum within thirty (30) days after the later of Executive’s date of termination or the effective date of the rules or regulations prohibiting such benefits or subjecting the Bank to penalties. 

 

	 	(iv)	“Good Reason” exists if, without Executive’s express written consent, any of the following occurs: 

  

	 	(A)	a material reduction in Executive’s Base Salary or benefits provided in this Agreement (other than a reduction or elimination of Executive’s benefits under one or more benefit plans maintained by the Bank as
part of a good faith, overall reduction or elimination of such plans or benefits applicable to all participants in a manner that does not discriminate against Executive (except as such discrimination may be necessary to comply with applicable law));

  

	 	(B)	a material reduction in Executive’s authority, duties or responsibilities from the position and attributes associated with the Executive Position; 

 

	 	(C)	a relocation of Executive’s principal place of employment by more than twenty-five (25) miles from the Bank’s main office location as of the date of this Agreement; or 

 

	 	(D)	a material breach of this Agreement by the Bank. 

  

	 	(v)	Notwithstanding the foregoing, Executive shall not be entitled to any payments or benefits under this Section 4(e) unless and until Executive executes a release of his claims against the Bank, the Company and any
affiliate, and their officers, directors, successors and assigns, releasing said persons from any and all claims, rights, demands, causes of action, suits, arbitrations or grievances relating to the employment relationship, including claims under
the Age Discrimination in Employment Act (“ADEA”), but not including claims for benefits under tax-qualified plans or other benefit plans in which Executive is vested, claims for benefits required by applicable law or claims with respect
to obligations set forth in this Agreement that survive the termination of this Agreement. In order to comply with the requirements of Code Section 409A and the ADEA, the release shall be provided to Executive no later than the date of his
Separation from Service and Executive shall have no fewer than twenty-one (21) days to consider the release, and following Executive’s execution of the release, Executive shall have seven (7) days to revoke said release.

  
 6 

 5. CHANGE IN CONTROL. 

(a) Change in Control Defined. For purposes of this Agreement, the term “Change in Control” shall mean the
occurrence of any of the following events: 
  

	 	(i)	Merger: The Company or the Bank merges into or consolidates with another entity, or merges another bank or corporation into the Bank or the Company, and as a result, less than a majority of the combined voting
power of the resulting corporation immediately after the merger or consolidation is held by persons who were stockholders of the Company or the Bank immediately before the merger or consolidation; 

 

	 	(ii)	Acquisition of Significant Share Ownership: There is filed, or is required to be filed, a report on Schedule 13D or another form or schedule (other than Schedule 13G) required under Sections 13(d) or 14(d) of the
Securities Exchange Act of 1934, as amended, if the schedule discloses that the filing person or persons acting in concert has or have become the beneficial owner of 25% or more of a class of the Company’s or the Bank’s voting securities;
provided, however, this clause (ii) shall not apply to beneficial ownership of the Company’s or the Bank’s voting shares held in a fiduciary capacity by an entity of which the Company directly or indirectly beneficially owns 50% or
more of its outstanding voting securities; 

  

	 	(iii)	Change in Board Composition: During any period of two consecutive years, individuals who constitute the Company’s or the Bank’s Board of Directors at the beginning of the two-year period cease for any
reason to constitute at least a majority of the Company’s or the Bank’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for
election by the stockholders or corporators) by a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period or who is appointed to the Board as the result of a directive, supervisory agreement
or order issued by the primary federal regulator of the Company or the Bank or by the Federal Deposit Insurance Corporation (“FDIC”) shall be deemed to have also been a director at the beginning of such period; or 

 

	 	(iv)	Sale of Assets: The Company or the Bank sells to a third party all or substantially all of its assets. 

(b) Change in Control Benefits. Upon the occurrence of Executive’s termination Without Cause or With Good Reason on or after
the effective time of a Change in Control, the Bank (or any successor) shall pay Executive, or in the event of Executive’s subsequent death, 

  
 7 

 
Executive’s beneficiary or estate, as severance pay, an amount equal to three (3) times his highest annual rate of Base Salary earned by Executive during the calendar year of
Executive’s date of termination or either of the three (3) calendar years immediately preceding Executive’s date of termination. Such payment shall be made in a lump sum within thirty (30) days following Executive’s date of
termination. In addition, the Bank will continue to provide Executive with life insurance coverage and non-taxable medical and dental insurance coverage substantially comparable to the coverage maintained by the Bank for Executive immediately prior
to his date of termination at no cost to Executive. Such continued coverage shall cease upon the earlier of: (i) the date which is three (3) years from Executive’s date of termination or (ii) the date on which Executive becomes a
full-time employee of another employer, provided Executive is entitled to the benefits that are substantially similar to the health and welfare benefits provided by the Bank. If the Bank cannot provide one or more of the benefits set forth in this
paragraph because Executive is no longer an employee, applicable rules and regulations prohibit such benefits or the payment of such benefits in the manner contemplated, or it would subject the Bank to penalties, then the Bank shall pay Executive a
cash lump sum payment reasonably estimated to be equal to the value of such benefits or the value of the remaining benefits at the time of such determination. Such cash payment shall be made in a lump sum within thirty (30) days after the later
of Executive’s date of termination or the effective date of the rules or regulations prohibiting such benefits or subjecting the Bank to penalties. Notwithstanding the foregoing, the payments and benefits provided in this Section 5(b)
shall be payable to Executive in lieu of any payments or benefits that are payable under Section 4(e). 
 6. COVENANTS OF EXECUTIVE. 

(a) Non-Solicitation/Non-Compete. Executive hereby covenants and agrees that, for a period of one (1) year following
his termination of employment with the Bank (other than a termination of employment following a Change in Control), Executive shall not, without the written consent of the Bank, either directly or indirectly: 

 

	 	(i)	solicit, offer employment to, or take any other action intended (or that a reasonable person acting in like circumstances would expect) to have the effect of causing any officer or employee of the Bank, or any of its
respective subsidiaries or affiliates, to terminate his employment and accept employment or become affiliated with, or provide services for compensation in any capacity whatsoever to, any business whatsoever that competes with the business of the
Bank, or any of their direct or indirect subsidiaries or affiliates, that has headquarters or offices within twenty-five (25) miles of any location(s) in which the Bank has business operations or has filed an application for regulatory approval
to establish an office (the “Restricted Territory”); 

  

	 	(ii)	 become an officer, employee, consultant, director, independent contractor, agent, joint venturer, partner or trustee of any savings bank, savings and
loan association, savings and loan holding company, credit union, bank or bank holding company, insurance company or agency, any mortgage or loan broker or any other entity that competes with the business of the Bank or any of their direct or
indirect subsidiaries or affiliates, that: (i) has a 

  
 8 

	 	
headquarters within the Restricted Territory or (ii) has one or more offices, but is not headquartered, within the Restricted Territory, but in the latter case, only if Executive would be
employed, conduct business or have other responsibilities or duties within the Restricted Territory; or 

  

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

 (b) Confidentiality.
Executive recognizes and acknowledges that the knowledge of the business activities, plans for business activities, and all other proprietary information of the Bank, as it may exist from time to time, are valuable, special and unique assets of the
business of the Bank. Executive will not, during or after the term of his employment, disclose any knowledge of the past, present, planned or considered business activities or any other similar proprietary information of the Bank to any person,
firm, corporation, or other entity for any reason or purpose whatsoever unless expressly authorized by the Board or required by law. Notwithstanding the foregoing, Executive may disclose any knowledge of banking, financial and/or economic
principles, concepts or ideas which are not solely and exclusively derived from the business plans and activities of the Bank. Further, Executive may disclose information regarding the business activities of the Bank to any bank regulator having
regulatory jurisdiction over the activities of the Bank pursuant to a formal regulatory request. In the event of a breach or threatened breach by Executive of the provisions of this Section, the Bank will be entitled to an injunction restraining
Executive from disclosing, in whole or in part, the knowledge of the past, present, planned or considered business activities of the Bank or any other similar proprietary information, or from rendering any services to any person, firm, corporation,
or other entity to whom such knowledge, in whole or in part, has been disclosed or is threatened to be disclosed. Nothing herein will be construed as prohibiting the Bank from pursuing any other remedies available to the Bank for such breach or
threatened breach, including the recovery of damages from Executive. 
 (c) Information/Cooperation. Executive
shall, upon reasonable notice, furnish such information and assistance to the Bank as may be reasonably required by the Bank, in connection with any litigation in which it or any of its subsidiaries or affiliates is, or may become, a party;
provided, however, that Executive shall not be required to provide information or assistance with respect to any litigation between Executive and the Bank or any other subsidiaries or affiliates. 

(d) Reliance. Except as otherwise provided, all payments and benefits to Executive under this Agreement shall be subject to
Executive’s compliance with this Section 6, to the extent applicable. The parties hereto, recognizing that irreparable injury will result to the Bank, its business and property in the event of Executive’s breach of this
Section 6, agree that, in the event of any such breach by Executive, the Bank will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive and all persons acting for
or with Executive. Executive represents and admits that Executive’s experience and capabilities are such that Executive can obtain employment in a business engaged in other lines of business than the Bank, and that the enforcement of a remedy
by way of injunction will not prevent Executive from earning a livelihood. Nothing herein will be construed as prohibiting the Bank from pursuing any other remedies available to them for such breach or threatened breach, including the recovery of
damages from Executive. 

  
 9 

 7. SOURCE OF PAYMENTS. 

All payments provided in this Agreement shall be timely paid by check or direct deposit from the general funds of the Bank (or any successor of
the Bank). 
 8. EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS. 

This Agreement contains the entire understanding between the parties hereto and supersedes any prior employment agreement between the Bank or
any predecessor of the Bank and Executive, except that this Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind expressly provided elsewhere. 

9. NO ATTACHMENT; BINDING ON SUCCESSORS. 

(a) Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation,
sale, assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to affect any such action shall be null, void, and
of no effect. 
 (b) The Bank shall require any successor or assignee, whether direct or indirect, by purchase, merger, consolidation or
otherwise, to all or substantially all the business or assets of the Bank, expressly and unconditionally to assume and agree to perform the Bank’s obligations under this Agreement, in the same manner and to the same extent that the Bank would
be required to perform if no such succession or assignment had taken place. 
 10. MODIFICATION AND WAIVER. 

(a) This Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto. 

(b) No term or condition of this Agreement shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any
provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate only as to
the specific term or condition waived and shall not constitute a waiver of such term or condition for the future as to any act other than that specifically waived. 

  
 10 

 11. REQUIRED PROVISIONS. 

Notwithstanding anything herein contained to the contrary, the following provisions shall apply: 

(a) The Board may terminate Executive’s employment at any time, but any termination by the Bank’s Board other than termination for
Cause shall not prejudice Executive’s right to compensation or other benefits under this Agreement. Executive shall have no right to receive compensation or other benefits for any period after his termination for Cause. 

(b) Notwithstanding anything herein contained to the contrary, any payments to Executive by the Company, whether pursuant to this Agreement or
otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1828(k), and the regulations promulgated thereunder in 12 C.F.R. Part 359. 

(c) Notwithstanding anything else in this Agreement to the contrary (with the exception of Section 4(c)(i)), Executive’s employment
shall not be deemed to have been terminated unless and until Executive has a Separation from Service within the meaning of Code Section 409A. For purposes of this Agreement, a “Separation from Service” shall have occurred if the Bank
and Executive reasonably anticipate that either no further services will be performed by Executive after the date of termination (whether as an employee or as an independent contractor) or the level of further services performed is less than fifty
(50) percent of the average level of bona fide services in the thirty-six (36) months immediately preceding the termination. For all purposes hereunder, the definition of Separation from Service shall be interpreted consistent with
Treasury Regulation Section 1.409A-1(h)(ii). Notwithstanding the foregoing, this Section 11(b) is not applicable in the event of the Executive’s termination for Cause. 

(d) Notwithstanding the foregoing, if Executive is a “specified employee” (i.e., a “key employee” of a publicly traded
company within the meaning of Section 409A of the Code and the final regulations issued thereunder) and any payment under this Agreement is triggered due to Executive’s Separation from Service (other than due to Disability or death), then
solely to the extent necessary to avoid penalties under Section 409A of the Code, no payment shall be made during the first six (6) months following Executive’s Separation from Service. Rather, any payment which would otherwise be
paid to Executive during such period shall be accumulated and paid to Executive in a lump sum on the first day of the seventh month following such Separation from Service. All subsequent payments shall be paid in the manner specified in this
Agreement. 
 12. SEVERABILITY. 
 If,
for any reason, any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision of this Agreement or any part of such provision not held so invalid, and each such other provision
and part thereof shall to the full extent consistent with law continue in full force and effect. 
 13. GOVERNING LAW. 

This Agreement shall be governed by the laws of the Commonwealth of Massachusetts but only to the extent not superseded by federal law. 

  
 11 

 14. ARBITRATION. 

Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by binding arbitration, as an
alternative to civil litigation and without any trial by jury to resolve such claims, conducted by a single arbitrator mutually acceptable to the Bank and Executive, sitting in a location selected by the Bank within fifty (50) miles from the
main office of the Bank, in accordance with the rules of the American Arbitration Association’s National Rules for the Resolution of Employment Disputes then in effect. Judgment may be entered on the arbitrator’s award in any court having
jurisdiction. 
 15. PAYMENT OF LEGAL FEES. 

To the extent that such payment(s) may be made without triggering penalty under Code Section 409A, all reasonable legal fees paid or
incurred by Executive pursuant to any dispute relating to this Agreement shall be paid or reimbursed by the Bank, provided that the dispute is resolved in Executive’s favor, and such reimbursement shall occur no later than sixty (60) days
after the end of the year in which the dispute is settled or resolved in Executive’s favor. 
 16. INDEMNIFICATION. 

The Bank shall provide Executive (including his heirs, executors and administrators) with coverage under a standard directors’ and
officers’ liability insurance policy at its expense, and shall indemnify Executive (and his heirs, executors and administrators) for the term of the Agreement and for a period of six (6) years thereafter to the fullest extent permitted
under applicable law against all expenses and liabilities reasonably incurred by him in connection with or arising out of any action, suit or proceeding in which he may be involved by reason of his having been a director or officer of the Bank or
the Company or any subsidiary or affiliate of the Bank or the Company (whether or not he continues to be a director or officer at the time of incurring such expenses or liabilities), such expenses and liabilities to include, but not be limited to,
judgments, court costs and attorneys’ fees and the cost of reasonable settlements (such settlements must be approved by the Board or the board of directors of the Company, as appropriate); provided, however, neither the Bank nor Company shall
be required to indemnify or reimburse Executive for legal expenses or liabilities incurred in connection with an action, suit or proceeding arising from any illegal or fraudulent act committed by Executive. The indemnification rights set forth in
this Section 16 shall not be extinguished by any release signed by the Executive pursuant to Section 4(e)(v) hereof or as part of any separation agreement with the Bank. 

17. 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 delivered or mailed by certified or registered mail, return receipt requested, postage prepaid,
addressed to the respective addresses set forth below: 

  
 12 

			
	 To the Bank
	  	 Pilgrim Bank
 40 South Main Street

Cohasset, MA 02025

		
	 To Executive:
	  	Most recent address on file with the Bank

  
 13 

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

			
	PILGRIM BANK
		
	By:	 	  

	Name:
	Title:
	
	EXECUTIVE
	
	  

	Francis E. Campbell

  
 14

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