Document:

Transition Agreement and Release

 Exhibit 10.19 
  
 TRANSITION AGREEMENT AND RELEASE 
  
 This Transition Agreement and Release (“Agreement”) dated October 11, 2005, is made by and between Chris
O’Meara (“Employee”) and TIBCO Software Inc. (the “Company”) (Employee and Company are jointly referred to as the “Parties”). 
  

WHEREAS, the Employee signed an offer letter dated August 14, 1998 with attached exhibits, including an Employment Agreement dated August 18,
1998 (the “Employment Agreement”) and a Non-Disclosure/Assignment Agreement dated August 18, 1998 (the “NDA Agreement”) (collectively, the “Offer Letter”); 
  
 WHEREAS, the Employee entered into that Indemnification Agreement, dated as
of June 1, 2004 (the “Indemnification Agreement”), with the Company; 
  
 WHEREAS, Employee is employed by the Company at-will as Executive Vice President and Chief Financial Officer (“CFO”); 
  

WHEREAS, the Company and Employee have entered into certain stock option agreements, granting Employee the option to purchase shares of the
Company’s common stock subject to the terms and conditions of the applicable Company Stock Plan and the Company’s form of written stock option agreement(s) (collectively, the “Stock Option Agreements”); 
  
 WHEREAS, the Parties are modifying and preparing to terminate their
employment relationship; 
  
 WHEREAS, Employee shall no longer
serve in the position of Executive Vice President and CFO, as of October 11, 2005; 
  
 WHEREAS, Employee’s employment with the Company is at will, shall remain at will, and either party may terminate the employment relationship with or without cause and with or without notice, but Employee’s
employment with the Company will cease no later than October 10, 2006. The date of Employee’s actual termination of employment shall be the “Termination Date”; 
  
 WHEREAS, the Parties wish to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions and
demands that the Employee may have against the Company, including, but not limited to, any and all claims arising or in any way related to Employee’s current employment with and future separation from the Company; 
  
 THUS, in consideration of the promises made herein, the Parties agree as
follows: 
  
 1. Consideration. 
  
 (a) Up-Front Cash Payment. In consideration for executing this
Agreement, the Company shall pay Employee the total amount of Five Thousand Dollars ($5,000) (the “Initial Payment”), less applicable withholding, in accordance with the Company’s regular payroll practices. This Initial Payment shall
be made to Employee within five (5) business days after the Effective Date, as defined below. 
  

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 (b) Continued Employment. Employee’s at-will employment with the Company shall not continue
past the Termination Date, and can be terminated at any time prior to the Termination Date by either the Company or Employee (hereinafter referred to as the “Continued Employment Period”). The Company and Employee acknowledge and agree
that as of the Effective Date, Employee’s title shall be Special Advisor to the Chief Executive Officer (“CEO”). The Company and Employee further acknowledge and agree that as Special Advisor, during the Continued Employment Period,
Employee shall (i) earn a salary of Twenty-One Thousand, Six Hundred Dollars and Sixty-Six Cents ($21,666.66) per month, less applicable withholding (“Monthly Payments”) (Two Hundred Sixty Thousand Dollars ($260,000) annualized, less
applicable withholding) paid in accordance with the Company’s regular payroll practices, (ii) be available to work 30 hours per week and (iii) perform such services as are directed by the Company’s CEO. For the avoidance of
doubt, during the Continued Employment Period, Employee shall not be considered an individual subject to Section 16 reporting requirements as defined by the Securities and Exchange Commission with regard to his employment with the Company. In
addition, during the Continued Employment Period, Employee may continue to use the Blackberry pager provided to him by the Company. Employee will be entitled to receive the normal, discretionary bonus for his position for the 2005 Fiscal Year as
declared by the Board of Directors (“FY 2005 Bonus”), but in no event an amount less than the average (mean) amount paid to the other executive vice presidents covered under the TIBCO Executive Incentive Compensation Program for fiscal
year 2005 (the “2005 EICP Plan”). If the FY 2005 Bonus becomes due under the terms of the 2005 EICP Plan, but payment for the other executive vice presidents covered under the 2005 EICP Plan is deferred to later than January 2006, then the
Company shall pay Employee the amount of the bonus actually owed in accordance with the terms of the 2005 EICP Plan and the preceding sentence no later than January 31, 2006. Employee will not be entitled to any bonus for the 2006 Fiscal Year.
If Employee accepts another position at another company or business or otherwise resigns prior to the Termination Date, then Employee shall notify the Company in writing immediately. Unless the Employee’s employment is terminated by the Company
for “Cause” as defined in this Agreement, if the Employee resigns prior to October 10, 2006, the Company agrees that it shall pay to Employee an amount which (the “Early Termination Payment”), when combined with the Initial
Payment and the Monthly Payments made prior to the Termination Date, will equal Two Hundred Sixty-Five Thousand Dollars (US$265,000), less applicable withholdings. In addition, if Employee’s employment is terminated by the Company other than
for “Cause,” as defined in this Agreement, then (i) Employee shall be paid his FY 2005 Bonus (if not previously paid); (ii) until the earlier of October 10, 2006 and the date Employee obtains comparable medical insurance,
the Company shall pay the monthly premiums for the Employee’s health and dental benefits under the Consolidated Omnibus Reconciliation Act of 1985, as amended (“COBRA”) provided that Employee enrolls in COBRA upon the Termination Date
and is otherwise eligible for such benefits. Except as otherwise provided for in this Agreement, Employee shall not be entitled to continued salary payments under this section (but will be entitled to the Early Termination Payment unless the Company
terminates Employee for Cause), benefits or stock option vesting after the Termination Date, if either the Company or Employee terminates Employee’s employment with the Company. The Early Termination Payment and any unpaid FY 2005 Bonus shall
be made within ten (10) business days after the Termination Date. 
  
 (c) Definitions. 
  
 (i) For purposes of this
Agreement, “Cause” shall mean (i) Employee engages in any material act of dishonesty, fraud or misrepresentation, or any violation of the 
  
  

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Company’s anti-harassment and discrimination policies; (ii) Employee’s violation of any federal, state or other law or regulation applicable
to the Company’s business or violation of Company policies, as set forth in the Company’s Employee Handbook, designed to ensure compliance with a federal, state or other law or regulation applicable to the Company’s business;
(iii) Employee’s material breach of any material provision of any confidentiality agreement or invention assignment agreement between Employee and the Company; (iv) Employee’s acknowledgement of the commission of, being convicted
of, or entering a plea of guilty or nolo contendere to, any felony or misdemeanor involving moral turpitude; or (v) Employee’s failure to notify the Company that he has accepted a position during the Continued Employment Period with
another company and/or Employee accepting a position during the Continued Employment Period, directly or indirectly, of providing services for a competitor of the Company (as defined below) while continuing to receive salary and other payments from
the Company. In the event that the Company believes that Employee has committed an act or acts constituting “Cause” under subsections 1(b)(i) through (v) above, the Company shall provide specific written notice thereof to Employee
describing the acts which constitute Cause, if such “Cause” is reasonably susceptible of being cured, and the termination of Employee’s employment therefore shall become effective fourteen (14) days after that notice, provided
that it has not been cured by that date. 
  
 (ii) For purposes of
this Agreement, a “competitor of the Company” shall be any one of the following companies, together with their successors and/or assigns: WebMethods Inc., Vitria Technology Inc., BEA Systems, SAP, the division(s) of Sun Microsystems into
which SeeBeyond has been integrated, Sonic Software, Progress Software Corporation, the messaging software or infrastructure software departments of IBM Corporation or Microsoft Corporation; or the portal division of Oracle Corporation. 

 
 (d) Supplemental Severance. The Company agrees to offer Employee an
additional lump sum payment of Ten Thousand Dollars ($10,000) less applicable withholdings (“Final Lump Sum”), in consideration for the execution by Employee of a Supplemental Severance Agreement and Release, the form of which is attached
hereto as Exhibit A (the “Supplemental Agreement”). 
  
 (e) Aggregate Consideration. For the sake of clarity, except as set forth in Section 16 of this Agreement, the Company will not pay more than Two Hundred Seventy-Five Thousand Dollars ($275,000) less applicable withholdings,
under the terms of this agreement for the Initial Payment, the Monthly Payments and the Final Lump Sum, inclusive of any applicable withholding or other taxes and payment reimbursements. The Final Lump Sum will therefore be reduced, as necessary, to
offset any amount of prior overpayment to ensure no more than an aggregate consideration paid of Two Hundred Seventy-Five Thousand Dollars ($275,000) less applicable withholdings. Notwithstanding the foregoing, the Company will also pay Employee the
FY 2005 Bonus in accordance with Section 1(b) of this Agreement, less applicable withholdings, as well as any applicable payments on Employee’s behalf pursuant to Section 1(b)(ii) of this Agreement. 
  
 2. Benefits. Except as set forth in Section 1(b)(ii) of this
Agreement, Employee’s health insurance benefits shall cease on the Termination Date, subject to Employee’s right to continue his health insurance under COBRA. Employee’s participation in all other benefits and incidents of employment
shall also cease on the Termination Date. 
  
 3. Stock. The
vesting and exercise of any stock options shall continue to be subject to the terms and conditions of the Stock Option Agreements. For the avoidance of doubt, except for the 
  

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next sentence, nothing in this Agreement shall impact Employee’s rights with respect to the exercise of his vested options after the Termination Date,
as set forth in his Stock Option Agreements. Notwithstanding the foregoing, the remaining contents of this Agreement and the terms of the Stock Option Agreements, to the extent any vested options would otherwise be exercisable after
December 31, 2006, such options shall terminate on December 31, 2006 after which they shall no longer be exercisable, and Employee hereby waives any such rights to and agrees that he shall not exercise any vested options after
December 31, 2006. 
  
 4. Confidential Information.
Employee shall continue to comply with the terms and conditions of the Employment Agreement and NDA Agreement between Employee and the Company, specifically including the provisions therein regarding nondisclosure of the Company’s trade secrets
and confidential and proprietary information, and non-solicitation of Company employees. Employee shall return to the Company by the Termination Date or any earlier date at the written request of the Company, with reasonable notice, all of the
Company’s property and confidential and proprietary information in his possession, with the exception of his laptop computer, which he will retain. 
  
 5. [THIS SECTION IS INTENTIONALLY LEFT BLANK.] 
  
 6. Release of Claims. Employee agrees that the foregoing consideration represents settlement in full of all outstanding obligations owed to
Employee by the Company and its past and present administrators, managers, officers, directors, employees, investors, attorneys, stockholders, agents, employee benefit plans and their fiduciaries, subsidiaries, divisions, affiliates, and its
predecessor and successor corporations, representatives and assigns (“the Releasees”). Employee hereby fully and forever releases the Releasees from, and agrees not to sue concerning, or in any manner to institute, prosecute or pursue, any
claim, complaint, charge, duty, obligation or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Employee may possess against any of the Releasees arising from any omissions, acts
or facts that have occurred up until and including the Effective Date including, without limitation: 
  
 (a) any and all claims relating to or arising from Employee’s employment relationship with the Company as of the Effective Date; 
  
 (b) subject to the last sentence of Section 3 of this Agreement, any and
all claims relating to, or arising from, Employee’s right to purchase or actual purchase (if any) of shares of stock of the Company, including, without limitation, any claims for fraud; misrepresentation; breach of fiduciary duty; breach of
duty under applicable state corporate law; and securities fraud under any state or federal law; 
  
 (c) any and all claims under the law of any jurisdiction including, but not limited to, wrongful discharge of employment; constructive discharge from
employment; termination in violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel;
negligent or intentional infliction of emotional distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander;
negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; conversion; workers’ compensation; and disability benefits; 
  

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 (d) any and all claims for violation of any federal, state or municipal statute, including, but not
limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967; the Americans with Disabilities Act of 1990; the Fair Labor Standards Act; the Employee Retirement Income Security
Act of 1974; the Fair Credit Reporting Act; the Worker Adjustment and Retraining Notification Act; the Older Workers Benefit Protection Act; the Family and Medical Leave Act; the California Family Rights Act; the California Fair Employment and
Housing Act; the California Workers’ Compensation Act; and the California Labor Code, including, but not limited to, Labor Code Sections 1400-1408; 
  
 (e) any and all claims for violation of the federal, or any state, constitution; 
  
 (f) any and all claims arising out of any other laws and regulations relating to employment or employment discrimination;

  
 (g) any claim for any loss, cost, damage, or expense arising
out of any dispute over the non-withholding or other tax treatment of any of the proceeds received by Employee as a result of this Agreement; and 
  
 (h) any and all claims for attorneys’ fees and costs, except as otherwise provided in Section 16 of this Agreement. 
  
 Employee acknowledges and agrees that any material breach by Employee of this
paragraph 6 or of Employee’s obligations under paragraphs 4, 7, 8, 9, 11, 12 or 13 hereof or any material breach of any material provision of the NDA Agreement, shall constitute a material breach of this Agreement, and shall entitle the Company
immediately to recover the consideration provided to Employee by this Agreement, except as provided by law. 
  
 The Company and Employee agree that the release set forth in this section shall be and remain in effect in all respects as a complete general release as
to the matters released. This release does not extend to any obligations incurred under this Agreement, the Indemnification Agreement, or the indemnification provisions of Delaware law. 
  
 7. Acknowledgement of Waiver of Claims Under ADEA. Employee acknowledges that he is waiving and releasing any rights
he may have under the Age Discrimination in Employment Act of 1967 (“ADEA”) and that this waiver and release is knowing and voluntary. Employee and the Company agree that this waiver and release does not apply to any rights or claims that
may arise under the ADEA after the Effective Date. Employee acknowledges that the consideration given for this waiver and release Agreement is in addition to anything of value to which Employee was already entitled. Employee further acknowledges
that he has been advised by this writing that: 
  
 (a) he should
consult with an attorney prior to executing this Agreement; 
  
 (b) he has twenty-one (21) days within which to consider this Agreement; 
  
 (c) he has seven (7) days following his execution of this Agreement to revoke the Agreement; 
  

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 (d) this Agreement shall not be effective until the revocation period has expired; and 
  
 (e) nothing in this Agreement prevents or precludes Employee from challenging
or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs from doing so, unless specifically authorized by federal law. 
  
 8. Civil Code Section 1542. Employee represents that he is not
aware of any claim by him against any of the Releasees other than the claims that are released by this Agreement. Employee acknowledges that he has had the opportunity to be advised by legal counsel and is familiar with the provisions of California
Civil Code Section 1542, which provides as follows: 
  
 A
GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE
DEBTOR. 
  
 Employee, being aware of said code section, agrees to
expressly waive any rights he may have thereunder, as well as under any other statute or common law principles of similar effect. 
  
 9. No Pending or Future Lawsuits. Employee represents that he has no lawsuits, claims, or actions pending in his name, or on behalf of any other
person or entity, against the Company or any of the Releasees. Employee also represents that he does not intend to bring any claims on his own behalf or on behalf of any other person or entity against the Company or any of the Releasees, except as
necessary to enforce his rights under this Agreement. 
  
 10.
Application for Employment. Employee understands and agrees that, as a condition of this Agreement, he shall not be entitled to any employment with the Company following the Termination Date and he hereby waives any right, or alleged right,
of employment or re-employment with the Company. Employee further agrees that he will not apply for employment with the Company once his employment has been terminated. 
  
 11. Mutual Confidentiality. The Parties acknowledge that their agreement to keep the contents of, terms and
conditions of, and the consideration for this Agreement confidential was a material factor on which all parties relied in entering into this Agreement. Except as permitted herein, the Parties hereto agree to maintain in confidence the existence of
this Agreement, the contents, terms and conditions of this Agreement, and the consideration for this Agreement (hereinafter collectively referred to as “Severance Information”). The Parties may also disclose, on a reasonable “need to
know” basis the contents of, terms and conditions of, and the consideration for this Agreement (i) to immediate family, (ii) to legal and/or other professional advisors, or Company personnel necessary to implement the Agreement (as
determined by the Company in its sole discretion), (iii) to enforce (or defend against asserted claims of) breaches of this Agreement, or (iv) as required by law (e.g., by subpoena or for tax disclosures) or pursuant to Court order. Except
as to (iii) and (iv), such recipients of Severance Information shall also be informed of the confidentiality requirements contained herein. Each Party hereto otherwise agrees to take every reasonable precaution to prevent disclosure of any
Severance Information to other third parties, and agrees that there will be no other publicity, directly or indirectly, concerning any Severance Information. In the event of a disclosure under Section 11(iv) above, no continuing obligation of
confidentiality shall apply with respect to the information that was disclosed under Section 11(iv) above. 
  

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 12. Non-Disparagement. Employee agrees to refrain from any defamation, libel or slander of the
Releasees, and any tortious interference with the contracts, relationships and prospective economic advantage of the Releasees. Company, its officers and the members of its board of directors agree to refrain from any defamation, libel or slander of
Employee. Employee agrees that he shall direct all inquiries by potential future employers to the Company’s Human Resources Department for references from the Company. Upon inquiry, the Company shall only confirm the following: Employee’s
positions held and dates of employment, compensation and any other information and/or documentation legally required to be disclosed. In addition, during and after the period of his employment, Employee agrees to make himself available to the
Company and/or its counsel to assist or consult in any litigation, proceeding, investigation, or inquiry involving the Company. Employee further acknowledges that he will at all times provide complete and truthful testimony in any such matter.

  
 13. No Cooperation. Employee agrees not to act in any
manner that might damage the business of the Company. Employee further agrees that following the termination of his employment, he will not knowingly counsel or assist any attorneys or their clients in the presentation or prosecution of any
disputes, differences, grievances, claims, charges, or complaints by any third party against any of the Releasees, unless under a subpoena or court order to do so. Employee agrees to use diligent, reasonable and good faith efforts both to promptly
notify the Company upon receipt of any such subpoena or court order, and to furnish, within three (3) business days of its receipt, a copy of such subpoena or court order to the Company. After the termination of his employment, if approached by
anyone for counsel or assistance in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints against any of the Releasees, Employee shall state no more than that he cannot provide counsel or
assistance. 
  
 14. Attorneys’ Fees. In the event that
either Party brings an action to enforce or effect its rights under this Agreement, the prevailing Party shall be entitled to recover its reasonable costs and expenses, including the costs of mediation, arbitration, litigation,court fees, and
reasonable attorneys’ fees incurred in connection with such an action. 
  
 15. No Admission of Liability. Employee understands and acknowledges that this Agreement constitutes a compromise and settlement of any and all potential disputed claims. No action taken by the Company hereto,
either previously or in connection with this Agreement, shall be deemed or construed to be: (a) an admission of the truth or falsity of any potential claims; or (b) an acknowledgment or admission by the Company of any fault or liability
whatsoever to Employee or to any third party. 
  
 16.
Costs. The Company agrees to pay Employee’s attorney’s fees of up to $5,000 incurred in the negotiation of this Agreement. Such attorney’s fees shall be paid by the Company within fifteen (15) days of Employee’s
provision to the Company of documentation substantiating such expenses 
  
 17. Authority. The Company represents and warrants that the undersigned has the authority to act on behalf of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Agreement.
Employee represents and warrants that he has the capacity 

  

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to act on his own behalf and on behalf of all who might claim through him to bind them to the terms and conditions of this Agreement. Each Party warrants and
represents that there are no liens or claims of lien or assignments in law or equity or otherwise of or against any of the claims or causes of action released herein. 
  
 18. No Representations. Each Party represents that it has consulted with an attorney, and has carefully read and
understands the scope and effect of the provisions of this Agreement. In entering into this Agreement, neither Party has relied upon any representations or statements made by the other party hereto which are not specifically set forth in this
Agreement. 
  
 19. Severability. In the event that any
provision, or any portion thereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired
thereby, and the parties shall substitute for the affected portion an enforceable provision which closest approximates the intent and effect thereof. 
  
 20. Entire Agreement. This Agreement, the attached Exhibits, the Employment Agreement, the NDA Agreement, the Indemnification Agreement and the
Stock Option Agreements represent the entire agreement and understanding between the Company and Employee concerning the subject matter of this Agreement and Employee’s employment with and separation from Company and the events leading thereto
and associated therewith, and supersede and replace any and all prior agreements and understandings between the Parties concerning the subject matter of this Agreement and Employee’s relationship with the Company. 
  
 21. No Waiver. The failure of the Company to insist upon the
performance of any of the terms and conditions in this Agreement, or the failure to prosecute any breach of any of the terms and conditions of this Agreement, shall not be construed thereafter as a waiver of any such terms or conditions. This entire
Agreement shall remain in full force and effect as if no such forbearance or failure of performance had occurred. 
  
 22. No Oral Modification. This Agreement may only be amended in a writing signed by Employee and either the Executive Vice President, General
Counsel & Secretary of the Company or the CEO. 
  
 23.
Governing Law. This Agreement shall be construed, interpreted, governed, and enforced in accordance with California law, without regard to choice-of-law provisions. Both parties consent to personal and exclusive jurisdiction and venue in
California. 
  
 24. Effective Date. This Agreement is
effective after both parties have signed it and after seven (7) days have passed since Employee has signed the Agreement (the “Effective Date”). Each party has seven days after that party signs the Agreement to revoke it. Revocation
must be made in writing delivered no later than seven days after execution, and if by employee, must be delivered to the Executive Vice President, General Counsel & Secretary for the Company. 
  
 25. Counterparts; Facsimile. This Agreement may be executed in
counterparts and by facsimile, and each counterpart and facsimile shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. A signature shall be treated as a
fully enforceable signature hereto upon receipt by facsimile or mail by the other Party. 
  

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 26. Arbitration. The parties agree that any and all disputes arising out of the terms of this
Agreement, their interpretation, and any of the matters herein released, shall be subject to arbitration in Santa Clara County before the American Arbitration Association, under its National Rules for the Resolution of Employment Disputes and
California law. The arbitrator may grant injunctions and other relief in such disputes. The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. The parties agree that the prevailing party in any
arbitration shall be entitled to injunctive relief in any court of competent jurisdiction to enforce the arbitration award. The parties hereby agree to waive their right to have any dispute between them resolved in a court of law by a judge or
jury.  
  
 27. Tax Consequences. The Company makes no
representations or warranties with respect to the tax consequences of the payments provided to Employee or made on his behalf under the terms of this Agreement. Employee agrees and understands that he is responsible for payment, if any, of local,
state and/or federal taxes on the payments made hereunder by the Company and any penalties or assessments thereon (subject to crediting of any withholding done by the Company). Employee further agrees to indemnify and hold the Company harmless from
any claims, demands, deficiencies, penalties, interest, assessments, executions, judgments, or recoveries by any government agency against the Company for any amounts claimed due on account of: (a) Employee’s failure to pay or the
Company’s failure to withhold (provided that if the Company’s failure to withhold is due to the Company’s negligence, Employee’s liability to the Company shall be limited to the original amount of tax withholding and Employee
shall not be responsible for any other amounts, including any penalties or interest assessed against the Company solely for such negligent failure to withhold), or Employee’s delayed payment of, federal or state taxes; or (b) damages
sustained by the Company by reason of any such claims, including attorneys’ fees and costs. Notwithstanding the foregoing, the Company agrees to notify Employee if it believes that any payment to be made pursuant to this Agreement or any of
Employee’s stock options will or may subject Employee to taxation under Section 409A and will take reasonable steps, in consultation with Employee, to minimize the possibility that any payments made under this Agreement or any of
Employee’s stock options are subject to Section 409A. 
  
 28. Voluntary Execution of Agreement. This Agreement is executed voluntarily and without any duress or undue influence on the part or behalf of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge
that: 
  
 (a) They have read this Agreement; 
  
 (b) They have been represented in the preparation, negotiation, and execution
of this Agreement by legal counsel of their own choice or that they have voluntarily declined to seek such counsel; 
  
 (c) They understand the terms and consequences of this Agreement and of the releases it contains; and 
  
 (d) They are fully aware of the legal and binding effect of this Agreement.

  

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 IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below.

  

							
	 	 	 	 	TIBCO SOFTWARE INC.
				
	 Dated:
	 	11/30/2005	 	By:	 	 /s/ William R. Hughes

	 	 	 	 	 	 	William R. Hughes
	 	 	 	 	 	 	EVP, General Counsel & Secretary
			
	 	 	 	 	CHRIS O’MEARA, an individual
				
	 Dated:
	 	11/30/2005	 	 	 	 /s/ Chris O’Meara

	 	 	 	 	 	 	Chris O’Meara

  

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 EXHIBIT A 
  

SUPPLEMENTAL RELEASE 
  
 This Supplemental Release (“Supplemental Agreement”) is made by and between Chris O’Meara (“Employee”) and TIBCO Software Inc.
(the “Company”) (Employee and Company jointly referred to as the “Parties”). Capitalized terms not defined in this Supplemental Agreement shall have the meaning ascribed to them in the Transition Agreement (defined below).

  
 WHEREAS, Employee was employed by the Company; 
  
 WHEREAS, Employee and the Company entered into a Transition and Release
Agreement dated as of [                                      ]
(the “Transition Agreement”); 
  
 WHEREAS,
Employee’s employment with the Company ceased on [
                                     ] (the “Termination
Date”); 
  
 WHEREAS, as a condition precedent to the
provision of certain consideration under the Transition Agreement and this Supplemental Agreement, the Parties agreed in the Transition Agreement to resolve, following the Termination Date, any and all disputes, claims, complaints, grievances,
charges, actions, petitions and demands that the Employee may have against the Company, including, but not limited to, any and all claims arising or in any way related to Employee’s employment with the Company; 
  
 THUS, in consideration of the promises made herein and in the Transition
Agreement, the Parties agree as follows: 
  
 1.
Consideration. The Company shall pay Employee the total amount of Ten Thousand Dollars ($10,000), less applicable withholding, in accordance with the Company’s regular payroll practices. This payment shall be made to Employee within five
(5) business days after the Effective Date of this Supplemental Agreement, as defined below. 
  
 2. Benefits. Employee’s benefits ceased on the Termination Date, subject to Employee’s right to continue his health insurance under
COBRA. 
  
 3. Stock. The Parties agree that for the purpose
of determining the number of shares of the Company’s common stock that Employee is entitled to purchase from the Company, pursuant to the exercise of outstanding options, the Employee will be considered to have vested only up to the Termination
Date. Employee acknowledges that as of the Termination Date, Employee has vested in and may exercise                  shares subject to the Company’s stock
options and no more. The exercise of Employee’s vested stock options, if any, shall continue to be governed by the terms and conditions of the Stock Option Agreements. For the avoidance of doubt, nothing in this Supplemental Agreement, except
for the next sentence, shall impact Employee’s rights with respect to the exercise of his vested options after the Termination Date, as set forth in his Stock Option Agreements. Notwithstanding the foregoing, the remaining contents of this
Agreement and the terms of the Stock Option Agreements, to the extent any vested options would otherwise be exercisable after December 31, 2006, such options shall terminate on December 31, 2006 after which they shall no longer be
exercisable, and Employee hereby waives any such rights to and agrees that he shall not exercise any vested options after December 31, 2006. 
  

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 4. Confidential Information. Employee shall continue to comply with the terms and conditions of
the Employment Agreement and NDA Agreement between Employee and the Company, specifically including the provisions therein regarding nondisclosure of the Company’s trade secrets and confidential and proprietary information, and non-solicitation
of Company employees. Employee shall return to the Company, by the Effective Date of this Supplemental Agreement, all of the Company’s property and confidential and proprietary information in his possession, with the exception of his laptop,
which he will retain. By signing this Supplemental Agreement, Employee declares under penalty of perjury that he has returned all documents and other items provided to Employee by the Company, developed or obtained by Employee as a result of his
employment with the Company, or otherwise belonging to the Company, with the exception of the aforementioned laptop computer. 
  
 5. Payment of Salary. Employee acknowledges and represents that as of the Effective Date of this Supplemental Agreement that the Company has paid
all salary, wages, bonuses, accrued vacation, commissions, distributions, interest, equity, severance, fees, penalties and any and all other benefits and compensation due to Employee. 
  
 6. Release of Claims. Employee agrees that the foregoing consideration represents settlement in full of all
outstanding obligations owed to Employee by the Company and its past and present administrators, managers, officers, directors, employees, investors, attorneys, stockholders, agents, employee benefit plans and their fiduciaries, subsidiaries,
divisions, affiliates, and its predecessor and successor corporations, representatives and assigns (“the Releasees”). Employee hereby fully and forever releases the Releasees from, and agrees not to sue concerning, or in any manner to
institute, prosecute or pursue, any claim, complaint, charge, duty, obligation or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Employee may possess against any of the
Releasees arising from any omissions, acts or facts that have occurred up until and including the Effective Date of this Supplemental Agreement including, without limitation: 
  
 (a) any and all claims relating to or arising from Employee’s employment relationship with the Company and the
termination of that relationship; 
  
 (b) subject to the last
sentence of Section 3 of this Agreement, any and all claims relating to, or arising from, Employee’s right to purchase or actual purchase (if any) of shares of stock of the Company, including, without limitation, any claims for fraud;
misrepresentation; breach of fiduciary duty; breach of duty under applicable state corporate law; and securities fraud under any state or federal law; 
  
 (c) any and all claims under the law of any jurisdiction including, but not limited to, wrongful discharge of employment; constructive discharge from
employment; termination in violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel;
negligent or intentional infliction of emotional distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander;
negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; conversion; workers’ compensation; and disability benefits; 
  

 Page 12 of 18 

 (d) any and all claims for violation of any federal, state or municipal statute, including, but not
limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967; the Americans with Disabilities Act of 1990; the Fair Labor Standards Act; the Employee Retirement Income Security
Act of 1974; the Fair Credit Reporting Act; the Worker Adjustment and Retraining Notification Act; the Older Workers Benefit Protection Act; the Family and Medical Leave Act; the California Family Rights Act; the California Fair Employment and
Housing Act; the California Workers’ Compensation Act; and the California Labor Code, including, but not limited to, Labor Code Sections 1400-1408; 
  
 (e) any and all claims for violation of the federal, or any state, constitution; 
  
 (f) any and all claims arising out of any other laws and regulations relating to employment or employment discrimination;

  
 (g) any claim for any loss, cost, damage, or expense arising
out of any dispute over the non-withholding or other tax treatment of any of the proceeds received by Employee as a result of this Supplemental Agreement; and 
  

(h) any and all claims for attorneys’ fees and costs. 
  
 Employee acknowledges and agrees that any material breach by Employee of this paragraph 6 or of Employee’s obligations under paragraphs 4, 7, 8, 9,
11, 12 or 13 hereof or any material breach of any material provision of the NDA Agreement, shall constitute a material breach of this Supplemental Agreement, and shall entitle the Company immediately to recover the consideration provided to Employee
by this Supplemental Agreement, except as provided by law. 
  
 The
Company and Employee agree that the release set forth in this section shall be and remain in effect in all respects as a complete general release as to the matters released. This release does not extend to any obligations incurred under this
Supplemental Agreement or any Company obligations or amounts unpaid under the Transition Agreement and Release, the Indemnification Agreement or the indemnification provisions of Delaware law. 
  
 7. Acknowledgement of Waiver of Claims Under ADEA. Employee
acknowledges that he is waiving and releasing any rights he may have under the Age Discrimination in Employment Act of 1967 (“ADEA”) and that this waiver and release is knowing and voluntary. Employee and the Company agree that this waiver
and release does not apply to any rights or claims that may arise under the ADEA after the Effective Date of this Supplemental Agreement. Employee acknowledges that the consideration given for this Supplemental Agreement is in addition to anything
of value to which Employee was already entitled. Employee further acknowledges that he has been advised by this writing that: 
  
 (a) he should consult with an attorney prior to executing this Supplemental Agreement; 
  
 (b) he has twenty-one (21) days within which to consider this
Supplemental Agreement; 
  

 Page 13 of 18 

 (c) he has seven (7) days following his execution of this Supplemental Agreement to revoke this
Supplemental Agreement; 
  
 (d) this Supplemental Agreement shall
not be effective until the revocation period has expired; and 
  
 (e) nothing in this Supplemental Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties or
costs from doing so, unless specifically authorized by federal law. 
  
 8. Civil Code Section 1542. Employee represents that he is not aware of any claim by him against any of the Releasees other than the claims that are released by this Supplemental Agreement. Employee acknowledges that he has had
the opportunity to be advised by legal counsel and is familiar with the provisions of California Civil Code Section 1542, which provides as follows: 
  
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE,
WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
  
 Employee, being aware of said code section, agrees to expressly waive any rights he may have thereunder, as well as under any other statute or common law
principles of similar effect. 
  
 9. No Pending or Future
Lawsuits. Employee represents that he has no lawsuits, claims, or actions pending in his name, or on behalf of any other person or entity, against the Company or any of the Releasees. Employee also represents that he does not intend to bring any
claims on his own behalf or on behalf of any other person or entity against the Company or any of the Releasees, except as necessary to enforce his rights under this Supplemental Agreement and the Transition and Release Agreement. 
  
 10. No Application for Employment. Employee understands and agrees
that, as a condition of this Supplemental Agreement, he shall not be entitled to any employment with the Company, and he hereby waives any right, or alleged right, of employment or re-employment with the Company. Employee further agrees that he will
not apply for employment with the Company. 
  
 11. Mutual
Confidentiality. The Parties acknowledge that their agreement to keep the contents of, terms and conditions of, and the consideration for this Supplemental Agreement confidential was a material factor on which all parties relied in entering into
this Supplemental Agreement. Except as permitted herein, the Parties hereto agree to maintain in confidence the existence of this Supplemental Agreement, the contents, terms and conditions of this Supplemental Agreement, and the consideration for
this Supplemental Agreement (hereinafter collectively referred to as “Settlement Information”). The Parties may also disclose, on a reasonable “need to know” basis the contents of, terms and conditions of, and the consideration
for this Supplemental Agreement: a) to immediate family; b) to legal and/or other professional advisors, or Company personnel necessary to implement the Supplemental Agreement (as determined by the Company in its sole discretion); c) to enforce (or
defend against asserted claims of) breaches of this Supplemental Agreement; or d) as required by law (e.g., by subpoena or for tax disclosures) or 

  

 Page 14 of 18 

 
pursuant to Court order. Except as to the latter two categories, such recipients of Settlement Information shall also be informed of the confidentiality
requirements contained herein. Each Party hereto otherwise agrees to take every reasonable precaution to prevent disclosure of any Settlement Information to other third parties, and agrees that there will be no other publicity, directly or
indirectly, concerning any Settlement Information. In the event of a disclosure under Section 11(iv) above, no continuing obligation of confidentiality shall apply with respect to the information that was disclosed under Section 11(iv)
above. 
  
 12. No Cooperation. Employee agrees not to act
in any manner that might damage the business of the Company. Employee further agrees that he will not knowingly encourage, counsel or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances,
claims, charges, or complaints by any third party against any of the Releasees, unless under a subpoena or other court order to do so. Employee agrees to use diligent, reasonable and good faith efforts both to promptly notify the Company upon
receipt of any such subpoena or court order, and to furnish, within three (3) days of its receipt, a copy of such subpoena or court order to the Company. If approached by anyone for counsel or assistance in the presentation or prosecution of
any disputes, differences, grievances, claims, charges, or complaints against any of the Releasees, Employee shall state no more than that he cannot provide counsel or assistance. 
  
 13. Non-Disparagement. Employee agrees to refrain from any defamation, libel or slander of the Releasees, and any
tortious interference with the contracts, relationships and prospective economic advantage of the Releasees. Company, its officers and the members of its board of directors agree to refrain from any defamation, libel or slander of Employee. Employee
agrees that he shall direct all inquiries by potential future employers to the Company’s Human Resources Department for references from the Company. Upon inquiry, the Company shall only confirm the following: Employee’s last position held
and dates of employment, final compensation and any other information and/or documentation legally required to be disclosed. 
  
 14. Attorneys’ Fees. In the event that either Party brings an action to enforce or effect its rights under this Supplemental Agreement, the
prevailing Party shall be entitled to recover its reasonable costs and expenses, including the costs of mediation, arbitration, litigation, court fees and reasonable attorneys’ fees incurred in connection with such an action. 
  
 15. No Admission of Liability. Employee understands and acknowledges
that this Supplemental Agreement constitutes a compromise and settlement of any and all potential disputed claims. No action taken by the Company hereto, either previously or in connection with this Supplemental Agreement, shall be deemed or
construed to be: (a) an admission of the truth or falsity of any potential claims; or (b) an acknowledgment or admission by the Company of any fault or liability whatsoever to Employee or to any third party. 
  
 16. Costs. The Parties shall each bear their own costs,
attorneys’ fees and other fees incurred in connection with the preparation of this Supplemental Agreement. 
  
 17. Arbitration. The Parties agree that any and all disputes arising out of the terms of this Supplemental Agreement, their interpretation, and any
of the matters herein released, shall be subject to binding arbitration in Santa Clara County before the American Arbitration Association, under its National Rules for the Resolution of Employment Disputes and California law. The arbitrator may
grant injunctions and other relief in such disputes. The decision of the arbitrator 

  

 Page 15 of 18 

 
shall be final, conclusive and binding on the parties to the arbitration. The Parties agree that the prevailing party in any arbitration shall be entitled to
injunctive relief in any court of competent jurisdiction to enforce the arbitration award. The Parties hereby agree to waive their right to have any dispute between them resolved in a court of law by a judge or jury. 
  
 18. Authority. The Company represents and warrants that the
undersigned has the authority to act on behalf of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Supplemental Agreement. Employee represents and warrants that he has the capacity to act on
his own behalf and on behalf of all who might claim through him to bind them to the terms and conditions of this Supplemental Agreement. Each Party warrants and represents that there are no liens or claims of lien or assignments in law or equity or
otherwise of or against any of the claims or causes of action released herein. 
  
 19. No Representations. Each Party represents that it has consulted with an attorney, and has carefully read and understands the scope and effect of the provisions of this Supplemental Agreement. In entering
into this Supplemental Agreement, neither Party has relied upon any representations or statements made by the other party hereto which are not specifically set forth in this Supplemental Agreement. 
  
 20. Severability. In the event that any provision, or any portion
thereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby, and the parties shall
substitute for the affected portion an enforceable provision which closest approximates the intent and effect thereof. 
  
 21. Entire Agreement. This Supplemental Agreement, the Transition Agreement and Release, the Employment Agreement, Indemnification Agreement, Stock
Option Agreements and the NDA Agreement represent the entire agreement and understanding between the Company and Employee concerning the subject matter of this Supplemental Agreement and Employee’s employment with and separation from the
Company and the events leading thereto and associated therewith, and supersede and replace any and all prior agreements and understandings between the Parties concerning the subject matter of this Supplemental Agreement and Employee’s
relationship with the Company. 
  
 22. No Waiver. The
failure of the Company to insist upon the performance of any of the terms and conditions in this Supplemental Agreement, or the failure to prosecute any breach of any of the terms and conditions of this Supplemental Agreement, shall not be construed
thereafter as a waiver of any such terms or conditions. This entire Supplemental Agreement shall remain in full force and effect as if no such forbearance or failure of performance had occurred. 
  
 23. No Oral Modification. This Supplemental Agreement may only be
amended in a writing signed by Employee and either the Executive Vice President, General Counsel & Secretary of the Company or the CEO. 
  
 24. Governing Law. This Supplemental Agreement shall be construed, interpreted, governed, and enforced in accordance with California law, without
regard to choice-of-law provisions. Both parties consent to personal and exclusive jurisdiction and venue in California. 
  

 Page 16 of 18 

 25. Effective Date. This Supplemental Agreement is effective after both parties have signed it and
after seven (7) days have passed since Employee has signed the Supplemental Agreement (the “Effective Date”). Each party has seven days after that party signs the Supplemental Agreement to revoke it. Revocation must be made in writing
delivered no later than seven days after execution, and if by employee, must be delivered to the Executive Vice President, General Counsel & Secretary for the Company. 
  
 26. Counterparts; Facsimile. This Supplemental Agreement may be executed in counterparts and by facsimile, and each
counterpart and facsimile shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. A signature shall be treated as a fully enforceable signature hereto upon
receipt by facsimile or mail by the other Party. 
  
 27. Tax
Consequences. The Company makes no representations or warranties with respect to the tax consequences of the payments provided to Employee or made on his behalf under the terms of this Supplemental Agreement. Employee agrees and understands that
he is responsible for payment, if any, of local, state and/or federal taxes on the payments made hereunder by the Company and any penalties or assessments thereon. Employee further agrees to indemnify and hold the Company harmless from any claims,
demands, deficiencies, penalties, interest, assessments, executions, judgments, or recoveries by any government agency against the Company for any amounts claimed due on account of: (a) Employee’s failure to pay or the Company’s
failure to withhold, or Employee’s delayed payment of, federal or state taxes; or (b) damages sustained by the Company by reason of any such claims, including attorneys’ fees and costs. 
  
 28. Voluntary Execution of Agreement. This Supplemental Agreement is
executed voluntarily and without any duress or undue influence on the part or behalf of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge that: 
  
 (a) They have read this Supplemental Agreement; 
  
 (b) They have been represented in the preparation, negotiation, and execution of this Supplemental Agreement by legal
counsel of their own choice or that they have voluntarily declined to seek such counsel; 
  
 (c) They understand the terms and consequences of this Supplemental Agreement and of the releases it contains; and 
  
 (d) They are fully aware of the legal and binding effect of this Supplemental Agreement. 
  

 Page 17 of 18 

 IN WITNESS WHEREOF, the Parties have executed this Supplemental Agreement on the respective dates set
forth below. 
  

							
	 	 	 	 	TIBCO SOFTWARE INC.
				
	 Dated:
	 	  

	 	By:	 	

	 	 	 	 	 	 	William R. Hughes
	 	 	 	 	 	 	EVP, General Counsel & Secretary
			
	 	 	 	 	CHRIS O’MEARA, an individual
				
	 Dated:
	 	  

	 	 	 	

	 	 	 	 	 	 	Chris O’Meara

  

 Page 18 of 18Amended and Restated Supplemental Retirement Agreement dated 12/13/2005

 Exhibit 10.1 
  
 AMENDED AND RESTATED 
 SUPPLEMENTAL RETIREMENT AGREEMENT 
  
 THIS
AMENDED AND RESTATED AGREEMENT is made and entered into as of the 13th day of December, 2005, by and between Strata Bank, a bank chartered under the laws of Massachusetts with its headquarters located in Medway, Massachusetts (the “Bank”),
Service Bancorp, MHC, a corporation chartered under the laws of Massachusetts (“Service Bancorp, MHC” or “MHC”), Service Bancorp, Inc., a corporation chartered under the laws of Massachusetts (the “Company”) and Pamela
J. Montpelier (the “Executive”). 
  
 WITNESSETH:

  
 WHEREAS, the Executive is employed by MHC, the Company and the
Bank in senior executive capacities, respectively; 
  
 WHEREAS,
because of the Executive’s experience, knowledge of the affairs of the Company, and reputation and contacts in the Company’s industry, the Company deems the Executive’s continued employment with the Company important for its future
growth; 
  
 WHEREAS, it is the desire of the Company and in its
best interest that the Executive’s services be retained; 
  
 WHEREAS, in order to induce the Executive to continue in the employ of the Company, the Company, MHC, the Bank and the Executive entered a Supplemental Retirement Agreement (the “Agreement”) dated March 18, 2003 to provide
her or her beneficiaries with certain benefits in accordance with the terms and conditions hereinafter set forth; and 
  
 WHEREAS, the Company, MHC, the Bank and the Executive now desire to amend the Agreement, effective December 13, 2005, to comply with the provisions
of Section 409A of the Internal Revenue Code of 1986, as amended; 
  
 NOW, THEREFORE, in consideration of services performed in the past and to be performed in the future as well as of the mutual promises and covenants herein contained, it is agreed as follows: 
  
 ARTICLE I—DEFINITIONS 
  
 1.01 “Accrued Benefits” shall mean the Executive’s Normal
Retirement Benefit calculated on the basis of the Benefit Computation Base as of the date on which the Executive’s employment with the Company terminates, multiplied by a fraction, the numerator of which is the actual number of full years (not
to exceed 15) between October 24, 2000, and the date on which Executive’s employment with the Company terminates, and the denominator of which is 15. 
  

1.02 “Actuarial Equivalent” shall mean a benefit of equivalent current value to the benefit which could otherwise have been provided to the
Executive, computed on the basis of an annual interest rate equal to 100% of the appropriate (i.e., short-term, mid-term or long-term, as 

 
the case may be) Applicable Federal Rate (as described in Section 1274 of the Internal Revenue Code of 1986, as amended (the “Code”)) (the
“AFR”) in effect for the month during which any such lump sum payment is to be made. If an Actuarial Equivalent is paid in the discretion of the Committee or the Board of Directors of the Company over a period of time not to exceed 60
months, such payments shall include interest at the appropriate AFR. 
  
 1.03 “Benefit Computation Base” shall mean the Executive’s average base salary (without bonus or profit sharing) from the Company over the 12 consecutive complete calendar months during which the Executive’s base salary
is the highest, determined without regard for reductions pursuant to Sections 125, 132(f)(4) or 401(k) of the Code. 
  
 1.04 “Board of Directors” shall mean the Board of Directors of the Company, the Board of Directors of the Bank, and the Board of Trustees of
MHC, as applicable. 
  
 1.05 “Cause” shall mean:

  
 (a) dishonest statements or acts of the
Executive concerning material matters relating to the Company or any affiliate of the Company; 
  
 (b) the commission by or indictment of the Executive for (i) a felony or (ii) any misdemeanor involving moral turpitude, deceit,
dishonesty or fraud (“indictment,” for these purposes, meaning an indictment, probable cause hearing or any other procedure pursuant to which an initial determination of probable or reasonable cause with respect to such offense is made);

  
 (c) failure to perform to the reasonable
satisfaction of the Board of Directors a substantial portion of the Executive’s duties and responsibilities assigned or delegated by the Board of Directors, which failure continues, in the reasonable judgment of the Board of Directors, after
written notice given to the Executive by the Board of Directors; 
  
 (d) gross negligence, willful misconduct or insubordination of the Executive with respect to the Company or any affiliate of the Company; or 
  
 (e) material breach by the Executive of any of the Executive’s obligations under this Agreement or
under any Employment Agreement in effect between the Executive and the Company. 
  
 1.06 “Change in Control” shall mean the occurrence of one or more of the following events: 
  
 (a) following any conversion of Service Bancorp, MHC from mutual to stock form, any “person” (as such term is used in Sections
13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) becomes a “beneficial owner” (as such term is defined in Rule 13d-3 promulgated under the Exchange Act) (other than Service Bancorp, MHC,
any trustee or other fiduciary holding securities under an employee benefit plan of the Company, or any corporation owned, directly or indirectly, by the stockholders of the Company, in substantially the same proportions as their ownership of stock
of Service Bancorp, MHC), directly or indirectly, of securities of Service Bancorp, MHC, representing fifty percent 

 
(50%) or more of the combined voting power of any of Service Bancorp, MHC’s then outstanding securities; or 
  
 (b) any “person” (as hereinabove defined) becomes
a “beneficial owner” (as such term is defined in Rule 13d-3 promulgated under the Exchange Act) (other than Service Bancorp, MHC, any trustee or other fiduciary holding securities under an employee benefit plan of the Company or the Bank,
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), directly or indirectly, of securities of the Company representing fifty percent
(50%) or more of the combined voting power of the Company’s then outstanding securities; or 
  
 (c) persons who, as of the Effective Date, constituted the Company’s, the Bank’s or MHC’s Board of Directors (the
“Incumbent Directors”) cease for any reason including, without limitation, as a result of a tender offer, proxy contest, merger or similar transaction, to constitute at least a majority of the Board of Directors of such entity, provided
that any person becoming a director of the Company, the Bank, or MHC, as applicable, subsequent to the Effective Date shall be considered an Incumbent Director if such person’s election was approved by or such person was nominated for election
by either (i) a vote of at least a majority of the Incumbent Directors of such entity or (ii) a vote of at least a majority of the Incumbent Directors of such entity who are members of a nominating committee comprised, in the majority, of
Incumbent Directors of such entity; but provided further, that any such person whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of members of the Board of Directors of such
entity or other actual or threatened solicitation of proxies or consents by or on behalf of a “person” other than the Incumbent Directors of such entity, including by reason of agreement intended to avoid or settle any such actual or
threatened contest or solicitation, shall not be considered an Incumbent Director of such entity; or 
  
 (d) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation or other entity, other
than (i) a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity) more than fifty percent (50%) of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation or (ii) a merger or consolidation
effected to implement a recapitalization of the Company (or similar transaction) in which no “person” (as hereinabove defined) other than Service Bancorp, MHC acquires more than fifty percent (50%) of the combined voting power of the
Company’s then outstanding securities; or 
  
 (e) following any conversion of Service Bancorp, MHC from mutual to stock form, the stockholders of Service Bancorp, MHC approve a merger or consolidation of Service Bancorp, MHC with any other corporation or other entity, other than
(i) a merger or consolidation which would result in the voting securities of Service Bancorp, MHC outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity) more than fifty percent (50%) of the combined voting power of the voting securities of Service Bancorp, MHC or such surviving entity outstanding immediately after such merger or consolidation or (ii) a merger or 

 
consolidation effected to implement a recapitalization of Service Bancorp, MHC (or similar transaction) in which no “person” (as hereinabove
defined) acquires more than fifty percent (50%) of the combined voting power of MHC’s then outstanding securities; or 
  
 (f) the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by
the Company of all or substantially all of the Company’s assets; or 
  
 (g) the Board of Trustees or the Board of Corporators of MHC approves a merger or consolidation of MHC with any other corporation or other entity which would result in a Change in Control under Section 1.06(c) if
the transaction were consummated 
  
 1.07 “Committee”
shall mean the Compensation Committee of the Board of Directors of the Company. 
  
 1.08 “Effective Date” shall mean the date first written above. 
  
 1.09 “Good Reason” shall mean 
  
 (a) a reduction in the Executive’s base salary (other than in connection with a salary reduction applicable to senior executives of
the Company generally); or 
  
 (b) the
Company’s material breach of this Agreement or of any Employment Agreement in effect between the Executive and the Company and/or the Bank; or 
  
 (c) the relocation of the offices at which the Executive is principally employed to a location more than 50 miles from such offices, which
relocation is not approved by the Executive; or 
  
 (d) a material and adverse change in the Executive’s position, responsibilities or duties. 
  
 1.10 “Normal Retirement Age” shall mean the date on which the Executive attains age 60. 
  
 1.11 “Normal Retirement Benefit” shall mean a benefit payable to
the Executive for a term of 15 years (180 months) in an annual amount equal to A minus B, where “A” is 70% of the Executive’s Benefit Computation Base and “B” is the sum of (a) 50% of the annual primary social security
retirement benefit payable (before earnings reduction) to the Executive starting at age 62 or which would be payable if applied for by the Executive and, (b) the total amounts contributed by the Company to the “company account” (e.g.,
matching contributions and profit sharing contributions) under the SBERA 401(k) Plan as adopted by the Bank (the “Bank 401(k) Plan”) on behalf of the Executive (such reduction to be calculated on the assumption that the Executive had
selected a single life annuity form of payment thereunder). In the case of the termination of the Executive’s employment prior to the Executive reaching her Normal Retirement Age, in calculating the Executive’s Normal Retirement Benefit,
the offset for annual primary social security benefit shall be calculated on the basis of the amount projected to be payable at age 62 assuming continued earnings by the Executive at the rate in effect at 

 
termination of employment until age 60, and the offset for Company contributions to the Bank 401(k) Plan at the rate in effect at termination of employment
until age 60 on behalf of the Executive shall be calculated on the basis of the amount projected to be payable at age 60 assuming continued employment of the Executive until age 60 at the same level of compensation. The “Normal Retirement
Benefit” shall be increased by 0.0194% for each month that the Executive is employed by the Company, MHC or the Bank after her Normal Retirement Age. 
  
 ARTICLE II—RETIREMENT BENEFITS 
  
 2.01 Retirement at or After Normal Retirement Age. If the Executive retires from the employ of the Company at or after attaining her Normal
Retirement Age, she shall receive the Normal Retirement Benefit. The Normal Retirement Benefit shall be paid to the Executive in 180 substantially equal monthly payments unless the Executive requests and the Committee approves an Optional Benefit
Form in accordance with Section 2.03 hereof. The Executive shall receive such Normal Retirement Benefit commencing on the first day of the month next following her actual retirement. ; provided that if the Executive is then a “specified
employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, the aggregate amount of the first seven months of the Normal Retirement Benefit shall be paid to the Executive pursuant to this Section 2.01 commencing on the first
day of the seventh month following her actual retirement.” 
  
 2.02 Extension of Benefits. If the Executive is entitled to receive a benefit hereunder, and following the commencement of benefit payments hereunder she dies before the date the final payment is to be made to the Executive hereunder
(the “Final Payment Date”), then the remaining payments that would otherwise have been paid to the Executive hereunder on or before the Final Payment Date shall be paid to the Executive’s beneficiary or beneficiaries or to the
Executive’s estate if she fails to designate a beneficiary. 
  
 2.03 Optional Forms of Benefits. 
  
 (a) In lieu of the 180-month installment form of payment, with the Committee’s approval in its sole discretion, the Executive may elect an Actuarial Equivalent to be paid in the form of a single lump sum payment, provided that
(i) such election shall become irrevocable two years prior to the date on which the Executive retires or otherwise terminates employment and (ii) such election would not constitute an acceleration of benefits within the meaning of
Section 409A(a)(3) of the Code or otherwise result in the imposition of any additional tax under Section 409A(a)(1)(B) of the Code. 
  
 (b) In lieu of the 180-month installment form of payment, the Committee, in its sole discretion, may elect to pay such Actuarial
Equivalent in a single lump sum or in substantially equal monthly payments over a period of time not to exceed 60 months, provided that such election shall not be effective unless the Company has delivered to the Executive, not less than 30 days
prior to the proposed effective date of such election, an opinion of counsel in form and substance reasonably acceptable to the Executive to the effect that such election would not constitute an acceleration of benefits within the meaning of
Section 409A(a)(3) of the Code or otherwise result in the imposition of any additional tax under Section 409A(a)(1)(B) of the Code. 

 ARTICLE III—DEATH AND DISABILITY BENEFITS 
  
 3.01 Death Benefits. If the Executive dies prior to commencement of
any payment of benefits hereunder, the Executive’s beneficiary or beneficiaries (or the Executive’s estate if she fails to designate a beneficiary) shall be entitled to receive the Accrued Benefit. Such benefit shall commence in
substantially equal monthly payments for a period of 180 months on the first business day of the month following the month of Executive’s death. The Board of Directors of the Company, in its sole discretion, may elect at the time of such death
to pay the Actuarial Equivalent of such Accrued Benefit in a single lump sum or over a period of time not to exceed 60 months. 
  
 3.02 Disability Benefits. In the event the Committee shall determine, prior to the Executive’s retirement or other termination of employment
with the Company, on the basis of such medical evidence as it may require, that the Executive has become disabled, mentally or physically, such that she is prevented from performing all the essential functions of her duties with or without
reasonable accommodation, the Executive shall be deemed to be continuously employed by the Company until her Normal Retirement Age, at which time she shall be entitled to a Normal Retirement Benefit pursuant to Section 2.01. 
  
 3.03 Return to Work. In the event the Executive returns to work with
the Company after a disability described in Section 3.02, this Agreement shall continue in effect as though such disability had not occurred. Notwithstanding anything herein to the contrary, in the event after a disability described in
Section 3.02 the Executive commences employment in a full-time business capacity other than with the Company or any of its affiliates, the Executive shall be deemed to have terminated employment with the Company in accordance with
Section 4.02(a) as of the date of such commencement of employment. 
  
 ARTICLE IV—TERMINATION BENEFITS 
  
 4.01
Involuntary Termination. 
  
 (a)
Termination by Company for Cause. Notwithstanding anything herein to the contrary, if at any time the Company, MHC or the Bank terminates the Executive’s employment for Cause, the Executive shall not be entitled to receive any benefit
hereunder and her Accrued Benefit shall be reduced to zero. 
  
 (b) Termination by the Company Prior to a Change in Control. If prior to the occurrence of a Change in Control the Company, MHC or the Bank terminates the Executive’s employment other than for Cause, the
Executive shall be entitled to receive her Accrued Benefit. She shall begin receiving such benefit in substantially equal monthly payments for a period of 180 months beginning on the first day of the month next following the earlier of (i) the
month during which her employment is terminated and (ii) the month during which she attains her Normal Retirement Age; provided that if the Executive is then a “specified employee” within the meaning of Section 409A(a)(2)(B)(i)
of the Code, the aggregate amount of the first seven months of the Accrued Benefit shall be paid to the Executive pursuant to this Section 4.01(b) commencing on the first day of the seventh month following the earlier of (i) the month
during which her employment is terminated and (ii) the month during which she attains her Normal 

 
Retirement Age. The Board of Directors of the entity terminating her employment, in its sole discretion, may elect at the time of such termination to pay the
Actuarial Equivalent of such Accrued Benefit in a single lump sum or over a period of time not to exceed 60 months; provided that such election shall not be effective unless the Company has delivered to the Executive, not less than 30 days prior to
the proposed effective date of such election, an opinion of counsel in form and substance reasonably acceptable to the Executive to the effect that such election would not constitute an acceleration of benefits within the meaning of
Section 409A(a)(3) of the Code or otherwise result in the imposition of any additional tax under Section 409A(a)(1)(B) of the Code. 
  
 (c) Termination by the Company After a Change in Control. If on or after the occurrence of a Change in Control the Company, MHC or
the Bank terminates the Executive’s employment other than for Cause, the Executive shall be entitled to receive her Normal Retirement Benefit. She shall begin receiving such benefit in substantially equal monthly payments for a period of 180
months beginning on the first day of the month next following the earlier of (i) the month during which her employment is terminated and (ii) the month during which she attains her Normal Retirement Age; provided that if the Executive is
then a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, the aggregate amount of the first seven months of the Normal Retirement Benefit shall be paid to the Executive pursuant to this
Section 4.01(c) commencing on the first day of the seventh month following the earlier of (i) the month during which her employment is terminated and (ii) the month during which she attains her Normal Retirement Age. The Board of
Directors of the entity terminating her employment, in its sole discretion, may elect at the time of such termination to pay the Actuarial Equivalent of such Normal Retirement Benefit in a single lump sum or over a period of time not to exceed 60
months; provided that such election shall not be effective unless the Company has delivered to the Executive, not less than 30 days prior to the proposed effective date of such election, an opinion of counsel in form and substance reasonably
acceptable to the Executive to the effect that such election would not constitute an acceleration of benefits within the meaning of Section 409A(a)(3) of the Code or otherwise result in the imposition of any additional tax under
Section 409A(a)(1)(B) of the Code. 
  
 4.02 Voluntary
Termination. 
  
 (a) Termination by
Executive without Good Reason. If the Executive terminates her employment with the Company, MHC and the Bank for reasons other than with Good Reason, disability (except as provided in Section 3.03) or death, she shall be entitled to receive
an amount equal to her Accrued Benefit. She shall begin receiving such benefit in substantially equal monthly payments for a period of 180 months beginning on the first day of the month next following the later of (i) the month during which her
employment is terminated and (ii) the month during which she attains her Normal Retirement Age; provided that if the Executive is then a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, the
aggregate amount of the first seven months of the amount equal to her Accrued Benefit shall be paid to the Executive pursuant to this Section 4.02(a) commencing on the first day of the seventh month following the earlier of (i) the month
during which her employment is terminated and (ii) the month during which she attains her Normal Retirement Age. The Board of Directors of the Company, in its sole discretion, may elect at the time of such termination to pay the Actuarial
Equivalent of such Accrued Benefit in a single lump sum or over a period of time not 

 
to exceed 60 months; provided that such election shall not be effective unless the Company has delivered to the Executive, not less than 30 days prior to the
proposed effective date of such election, an opinion of counsel in form and substance reasonably acceptable to the Executive to the effect that such election would not constitute an acceleration of benefits within the meaning of
Section 409A(a)(3) of the Code or otherwise result in the imposition of any additional tax under Section 409A(a)(1)(B) of the Code. 
  
 (b) Termination by the Executive with Good Reason. If the Executive terminates her employment with the Company, MHC or the Bank
with Good Reason, she shall be entitled to receive the Normal Retirement Benefit. She shall begin receiving such benefit in substantially equal monthly payments for a period of 180 months beginning on the first day of the month next following the
earlier of (i) the month during which her employment is terminated and (ii) the month during which she attains her Normal Retirement Age; provided that if the Executive is then a “specified employee” within the meaning of
Section 409A(a)(2)(B)(i) of the Code, the aggregate amount of the first seven months of the Normal Retirement Benefit shall be paid to the Executive pursuant to this Section 4.02(b) commencing on the first day of the seventh month
following the earlier of (i) the month during which her employment is terminated and (ii) the month during which she attains her Normal Retirement Age. The Board of Directors of the Company, in its sole discretion, may elect at the time of
such termination to pay the Actuarial Equivalent of such Normal Retirement Benefit in a single lump sum or over a period of time not to exceed 60 months; provided that such election shall not be effective unless the Company has delivered to the
Executive, not less than 30 days prior to the proposed effective date of such election, an opinion of counsel in form and substance reasonably acceptable to the Executive to the effect that such election would not constitute an acceleration of
benefits within the meaning of Section 409A(a)(3) of the Code or otherwise result in the imposition of any additional tax under Section 409A(a)(1)(B) of the Code. 
  
 4.03 Change in Control. 
  
 (a) Anything in this Agreement to the contrary notwithstanding, in the event that any compensation, payment or distribution by the Company
to or for the benefit of Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (the “Special Payments”), would be subject to the excise tax imposed by Section 4999 of
the Code, the following provisions shall apply: 
  
 (i) If the Special Payments, reduced by the sum of (1) the Excise Tax and (2) the total of the Federal, state, and local income and employment taxes payable by Executive on the amount of the Special Payments which are in excess of
the Threshold Amount, are greater than or equal to the Threshold Amount, Executive shall be entitled to the full benefits payable under this Agreement. 
  
 (ii) If the Threshold Amount is less than (x) the Special Payments, but greater than (y) the Special Payments reduced by the sum
of (1) the Excise Tax and (2) the total of the Federal, state, and local income and employment taxes on the amount of the Special Payments which are in excess of the Threshold Amount, then the benefits payable under this Agreement shall be
reduced (but not below zero) to the extent necessary so that the maximum Special Payments shall 

 
not exceed the Threshold Amount. To the extent that there is more than one method of reducing the payments to bring them within the Threshold Amount,
Executive shall determine which method shall be followed; provided that if Executive fails to make such determination within 45 days after the Company has sent Executive written notice of the need for such reduction, the Company may determine the
amount of such reduction in its sole discretion. 
  
 (b) For the purposes of this Section 4.03, “Threshold Amount” shall mean three times Executive’s “base amount” within the meaning of Section 280G(b)(3) of the Code and the regulations promulgated
thereunder less one dollar ($1.00); and “Excise Tax” shall mean the excise tax imposed by Section 4999 of the Code, and any interest or penalties incurred by Executive with respect to such excise tax. 
  
 (c) The determination as to which of the alternative
provisions of Section 4.03(a)(ii) shall apply to Executive shall be made by Wolf & Company, P.C., or any other nationally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide
detailed supporting calculations both to the Company and Executive within 15 business days of the Date of Termination, if applicable, or at such earlier time as is reasonably requested by the Company or Executive. For purposes of determining which
of the alternative provisions of Section 4.03(a) shall apply, Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the
determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in the state and locality of Executive’s residence on the Date of Termination, net of the maximum reduction in federal income
taxes which could be obtained from deduction of such state and local taxes. Any determination by the Accounting Firm shall be binding upon the Company and Executive. 
  
 ARTICLE V—BENEFICIARY DESIGNATION 
  
 The Executive may designate one or more beneficiaries to receive specified percentages of her death benefit payments. The
Executive shall designate any such beneficiaries in writing and shall submit such writing to the Chief Financial Officer of the Company. Only designated beneficiaries alive at the Executive’s death shall be entitled to share in the benefit
payments. Absent a contrary specification by the Executive in writing submitted to the Chief Financial Officer of the Company, each beneficiary alive at the Executive’s death (or, in the case of the beneficiary’s death after the
Executive’s death, the beneficiary’s estate) shall share equally in death benefit payments. If no designated beneficiary is alive at the Executive’s death, her estate shall be entitled to all death benefit payments. 
  
 ARTICLE VI—OBLIGATIONS OF EXECUTIVE 
  
 6.01 Non-Disclosure by Executive. The Executive shall not disclose to
any other person or entity (except as required by applicable law or court order) or use for her own benefit or gain, any confidential information of the Company obtained by her incident to her employment with the Company. The term “confidential
information” includes, without limitation, financial information, business plans, prospects and opportunities (such as lending relationships, financial product developments, or possible acquisitions or dispositions of businesses or facilities)
which 

 
have been discussed or considered by the management of the Company but does not include any information which has become part of the public domain by means
other than the Executive’s non-observance of her obligations hereunder. 
  
 6.02 Violation of Agreement. If at any time the Company considers that the Executive is acting in a manner which is in breach of the terms of Section 6.01 above, the Company will so notify the Executive in
writing and will request that she cease such action, or take such reasonable action as may be required, to conform to the terms of Section 6.01 above. In the event of a breach by the Executive in the performance of her obligation under the
terms of Section 6.01 which is not rectified within 30 days after such notice is mailed by the Company, the Company shall not be obligated to make any further payments under this Agreement. 
  
 6.03 Remedies. The Executive agrees that her services and the
confidential and proprietary information which she has previously acquired as an employee of the Company is unique, and that any breach of her obligations under this Article VI by her may not be adequately compensated by damages at law, and the
Executive agrees, therefore, that the Company shall be entitled, in addition to any other remedies that may be available to it, to equitable relief in a court of equity by injunction or otherwise, without the necessity of proving actual damage to
the Company for any breach by the Executive hereunder. 
  
 ARTICLE VII—CLAIMS PROCEDURE 
  
 The Company
shall promptly notify the Executive (or one of her beneficiaries in the case of the Executive’s death) if payment of benefits is not being made, or is not to be made, under this Agreement. In the event that benefits under this Agreement are not
paid to the Executive (or one of her beneficiaries in the case of the Executive’s death), and such person believes that he or she is entitled to receive them, a claim shall be made in writing to the Company within 90 days after written notice
from the Company to the Executive, her beneficiary, or an appropriate personal representative that payments are not being made, or are not to be made, under this Agreement. Such claim shall be reviewed by the Company. If the claim is approved or
denied, in full or in part, the Company shall provide a written notice of approval or denial within 30 days of its receipt of the claim. A written notice of denial shall set forth the specific reason for denial, specific reference to the provision
or provisions of this Agreement upon which the denial is based and any additional material or information necessary to perfect the claim, if any. Also, such written notice of denial shall indicate the steps to be taken if a review of the denial is
desired. A claim shall be deemed denied if the Company does not take action within the aforesaid 30-day period. If a claim is denied and a review is desired, the Executive (or beneficiary in the case of the Executive’s death), shall notify the
Company in writing within 30 days after such claim is denied. In requesting a review, the Executive or her beneficiary may review this Agreement or any document relating to it and submit any written issues and comments he or she may feel
appropriate. The Company shall then review the claim and provide a written decision within 30 days. The decision likewise shall state the specific reasons for the decision and shall include reference to specific provisions of this Agreement on which
the decision is based. 
  
 Any decision of the Company shall be
binding on the Executive, any beneficiary, or any personal representative. However, no decision shall preclude legal action by the Executive, 

 
beneficiary or personal representative. If the Executive, any beneficiary, or any personal representative shall prevail in any such legal action, such person
or persons shall be entitled to receive reimbursement of reasonable attorneys’ fees from the Company, unless the Company acted in good faith in the reasonable belief that its position was justified. 
  
 ARTICLE VIII—MISCELLANEOUS 
  
 8.01 No Compensation Deferral. The annual benefit payments provided by
this Agreement are not part of any salary-reduction plan or arrangement deferring a bonus or salary increase. The Executive has no option to take any current payment or bonus in lieu of the above discussed benefit payments. 
  
 8.02 Alienability. Neither the Executive nor any beneficiary under
this Agreement shall have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber in advance any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for
the payment of any debts, judgments, alimony or separate maintenance, owed by the Executive or any of her beneficiaries, or be transferable by operation of law in the event of bankruptcy, or otherwise. 
  
 8.03 Other Payment. Any annual benefit payments that the Executive
receives pursuant to this Agreement shall be in addition to payments she receives pursuant to any other agreements or arrangement she has with the Company. 
  
 8.04 Participation In Other Plans. Nothing contained in this Agreement shall be construed to alter, abridge, or in any manner affect the rights and
privileges of the Executive to participate in, and be covered by, any employee benefit plans (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended) which the Company may have or may hereafter adopt.

  
 8.05 Funding. The Company reserves the absolute right
at its sole discretion to insure or otherwise provide for the obligations of the Company undertaken by this Agreement or to refrain from doing so, and to determine the extent, nature and method thereof. Should the Company elect to insure this
Agreement, in whole or in part, through the medium of insurance or annuities, or both, the Company shall be the owner and beneficiary of such policy or policies. At no time shall the Executive be deemed to have any right, title or interest in, or
to, any specific asset or assets of the Company, including but not by way of restriction, any insurance or annuity contract or contracts or the proceeds therefrom. At all times, the Executive shall be no more than an unsecured, general creditor of
the Company with respect to amounts owed to her under this Agreement. No policy, contract or asset of the Company shall, in any way, be considered to be security for the performance of the obligations of this Agreement. 
  
 If the Company elects to insure its obligations under this Agreement by
purchasing a life insurance or annuity policy on the life of the Executive, she agrees to sign any papers that may be required for that purpose and to undergo any medical examination or tests which may be necessary, and generally to cooperate with
the Company in securing such policy and keeping the same in force. 

 8.06 Governing Law. This is a Massachusetts contract and shall be construed under and be governed
in all respects by the laws of The Commonwealth of Massachusetts. 
  
 8.07 Not an Employment Contract. This Agreement is not an employment contract, and nothing in this Agreement shall obligate the Company to continue to employ the Executive. 
  
 8.08 Assignment. This Agreement shall be binding upon, and shall inure
to the benefit of, the successors, assigns and personal representatives, as the case may be, of the Company and the Executive. 
  
 8.09 Communications. Any notice or communication required of either party with respect to this Agreement shall be made in writing and may either be
delivered personally or sent by first class mail, as the case may be. 
  
 To the Executive, at her home address as appearing on the records of the Company. 
  
 To the Company, addressed to the attention of the Chairman of the Board of Directors with a copy addressed to the attention of the Chief Financial Officer. 
  
 Each party shall have the right by written notice to change the place to which any notice may be addressed. 
  
 8.10 Waiver. The failure of either party to require the performance of
any term or obligation of this Agreement or the waiver by either party of any breach of this Agreement shall not foreclose a subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach. 
  
 8.11 Amendment. This Agreement may be amended, modified, or terminated
at any time by the mutual written consent of the Company and the Executive. 
  
 8.12 Entire Agreement. This Agreement sets forth the entire agreement between the parties hereto, and fully supersedes any and all prior written and oral agreements and understandings between the parties hereto
pertaining to the subject matter hereof. 
  
 8.13
Interpretation. It is the intent of the Company, MHC, the Bank and the Executive that the provisions of this Agreement and all amounts payable to the Executive hereunder meet the requirements of Section 409A of the Code, to the extent
applicable to this Agreement and such payments, and the Agreement shall be interpreted and construed in a manner consistent with such intent. Recognizing such intent and the lack of official guidance currently available regarding the application of
Section 409A, the Company, MHC, the Bank and the Executive agree to cooperate in good faith in preparing and executing, at such time as sufficient guidance is available under Section 409A and from time to time thereafter, one or more
amendments to this Agreement as may reasonably be necessary solely for the purpose of assuring that this Agreement and all amounts payable to the Executive hereunder meet the requirements of Section 409A. 

 Upon execution below by both parties, this Amended and Restated Agreement will enter into full force and
effect and supersede the original Supplemental Retirement Agreement dated March 18, 2003. 
  

									
	 	 	 	 	 SERVICE BANCORP, INC.

				
	 /s/ Pamela J. Montpelier
	 	 	 	By:	 	 /s/ Michael J. Sheehan

	Pamela J. Montpelier	 	 	 	 	 	 Name:
	 	 Michael J. Sheehan

	 	 	 	 	 	 	 Title:
	 	 Chairman of the Board

			
	 	 	 	 	 SERVICE BANCORP, MHC

				
	 /s/ Pamela J. Montpelier
	 	 	 	By:	 	 /s/ Michael J. Sheehan

	Pamela J. Montpelier	 	 	 	 	 	 Name:
	 	 Michael J. Sheehan

	 	 	 	 	 	 	 Title:
	 	 Chairman of the Board

			
	 	 	 	 	 STRATA BANK

				
	 /s/ Pamela J. Montpelier
	 	 	 	By:	 	 /s/ Michael J. Sheehan

	Pamela J. Montpelier	 	 	 	 	 	 Name:
	 	 Michael J. Sheehan

	 	 	 	 	 	 	 Title:
	 	 Director

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