Document:

Document

Execution Version

September 15, 2020
Oasis Petroleum North America LLC
1001 Fannin Street, Suite 1500
Houston, Texas  77002
Attention: Mr. Michael Lou, Executive Vice
President and Chief Financial Officer

RE: Direction Letter and Specified Swap Liquidation Agreement (the “Agreement”)

Ladies and Gentlemen:

        Reference is made to that certain Third Amended and Restated Credit Agreement, dated as of October 16, 2018 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Oasis Petroleum Inc., Oasis Petroleum LLC, Oasis Petroleum North America LLC (the “Borrower”), each of the lenders party thereto from time to time (the “Lenders”) and Wells Fargo Bank, N.A., as administrative agent for the Lenders (the “Administrative Agent”).  Unless otherwise defined herein, all terms used herein that are defined in the Credit Agreement shall have the meaning assigned to such terms in the Credit Agreement.
1.   Specified Swap Liquidations.  The Borrower, the Administrative Agent and the Lenders party hereto hereby agree that (a) the Borrower, with respect to each of the Swap Agreements which it or any other Credit Party is party to, shall use commercially reasonable efforts to either (i) Liquidate such Swap Agreement or (ii) reset such Swap Agreement to current market terms in existence at the time of such reset in exchange for a lump-sum cash payment substantially similar to the payment that it would be entitled to receive in respect of a contemporaneous Liquidation of such Swap Agreement, in each case, on terms mutually acceptable to the Borrower and the applicable Approved Counterparty (collectively, the “Specified Swap  Liquidations”) during the period commencing on the date hereof and ending the earlier of (x) October 15, 2020 and (y) the occurrence of any Event of Default (such period, the “Specified Period”) and (b) after giving effect to any Specified Swap Liquidation, the Borrowing Base shall be adjusted in accordance with the terms hereof.  For the avoidance of doubt, nothing herein constitutes a commitment by any Approved Counterparty to agree to any Specified Swap Liquidation, in whole or in part, or for the Borrower or any Credit Party to take any commercially unreasonable action with respect to any Specified Swap Liquidation, and nothing herein shall limit or constitute a waiver by any party to any Swap Agreement of any rights, powers and remedies thereunder.  
2.  Borrower Direction.  In furtherance of the above:  
        (a) the Borrower shall promptly provide notice of each such Specified Swap Liquidation to the Administrative Agent; 
        (b) prior to consummating any Specified Swap Liquidation, the Borrower agrees that it shall irrevocably direct the applicable Approved Counterparties (and does hereby direct each Approved Counterparty party hereto) to pay all proceeds from the Specified Swap Liquidations in respect of any and all Swap Agreements into the account listed immediately below, and in the event such 

Oasis Petroleum North America LLC
September 15, 2020
Page 2

proceeds are paid directly to the Borrower or any other Credit Party, the Borrower (and/or the applicable Credit Party) shall immediately remit such proceeds to such account, in each case, for application as set forth herein:
        
        (c) upon receipt of any such proceeds from any Specified Swap Liquidation, (x) the Borrower shall be deemed to have made a voluntary prepayment of the Loans in accordance with Section 3.04(a) of the Credit Agreement in a principal amount such that the amount of such proceeds shall be equal to the sum of (i) the principal amount of the Loans that is repaid plus (ii) any accrued interest owed in respect of such principal amount and (iii) any amount owed in accordance with Section 5.02 of the Credit Agreement and (y) the Borrowing Base shall be immediately reduced as set forth in Section 3 of this Agreement.  
3. Borrowing Base. In reliance on the covenants and agreements contained in this Agreement, and notwithstanding anything to the contrary in the Credit Agreement, the Borrower, the Administrative Agent and the Lenders party hereto hereby agree that upon the consummation of any Specified Swap Liquidation, the Borrowing Base shall be immediately reduced by an amount equal to the proceeds of such Specified Swap Liquidation that are repaid in accordance with Section 2 above.  

Further, the parties hereto hereby agree that notwithstanding anything to the contrary in the Credit
Agreement, including Section 9.12(d) thereof, the adjustments to the Borrowing Base contemplated by this Section 3 shall be the sole mechanic for adjustments thereof in respect of Liquidations during the Specified Period.

Notwithstanding any other provision of this Agreement, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), Section 8.13(c), Section 9.12(d) (other than with respect to Specified Swap Liquidations that are subject to this Agreement), Section 9.12(f) or Section 9.12(g) of the Credit Agreement. 

4. Aggregate Elected Commitment Amounts.  The Borrower,  the Administrative Agent and the Lenders party hereto hereby agree that upon the consummation of any Specified Swap Liquidation, the Aggregate Elected Commitment Amounts shall be immediately reduced by an amount equal to the proceeds of such Specified Swap Liquidation that are repaid in accordance with Section 2 above.

In connection with the foregoing reduction of the Aggregate Elected Commitment Amounts and the redetermination of the Borrowing Base provided in Section 3 above, upon each such reduction of the Aggregate Elected Commitment Amount, each Lender’s Elected Commitment Amount shall be reduced ratably among the Lenders in accordance with each Lender’s Applicable Percentage so that, in the aggregate, they equal the reduced Aggregate Elected Commitment Amount at such time and Annex I to the Credit Agreement shall be deemed amended at such time to reflect such reduction to each Lender’s Elected Commitment and the Aggregate Elected Commitment Amount. 

5. Representations and Warranties.  To induce the Lenders and Administrative Agent to enter into this Agreement, each Credit Party hereby (a) acknowledges the terms of this Agreement; (b) 

Oasis Petroleum North America LLC
September 15, 2020
Page 3

ratifies and affirms its obligations under, and acknowledges its continued liability under, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect as expressly modified hereby, (c) acknowledges the rights and interest of each Credit Party in Swap Agreements constitute Collateral for the Indebtedness and the Secured Parties have a valid and fully perfected Lien on, and security interest in, such Collateral, (d) acknowledges that the Lenders have made certain credit available to the Credit Parties pursuant to the Loan Documents in reliance on such Collateral, including, without limitation, evaluating certain Swap Agreements in connection with each redetermination of the Borrowing Base and (e) acknowledges that the Liquidation of any Swap Agreements may result in a decrease in the value of such Collateral, notwithstanding the fact that the proceeds of the Liquidation of such Swap Agreements also constitute Collateral.
6. Miscellaneous.  (a) In accordance with Section 12.03 of the Credit Agreement, the Borrower agrees to pay or reimburse the Administrative Agent for all of its reasonable out-of-pocket costs and reasonable expenses incurred in connection with this Agreement, any other documents prepared in connection herewith and the transactions contemplated hereby, (b) this Agreement may be executed in counterparts, and all parties need not execute the same counterpart; however, no party shall be bound by this Agreement until a counterpart hereof has been executed by the Credit Parties and Required Lenders; facsimiles or other electronic transmission (e.g., pdf), including via DocuSign or other similar electronic signature technology,  shall be effective as originals, (c) THIS AGREEMENT REPRESENTS THE FINAL AGREEMENT AMONG THE PARTIES REGARDING THE MATTERS SET FORTH HEREIN AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES AND THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES, (d) this Agreement constitutes a “Loan Document” under and as defined in Section 1.02 of the Credit Agreement, (e) this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, (f) the provisions of the Credit Agreement (as amended hereby) shall remain in full force and effect following the effectiveness of this Agreement and (g) THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
Please evidence your agreement to each of the provisions of this Agreement by executing a counterpart hereof where indicated and returning a fully executed counterpart.

[Signature Pages Follow]

BORROWER: OASIS PETROLEUM NORTH AMERICA LLC

By: /s/ Michael Lou 
Name:  Michael Lou
Title:     Executive Vice President and Chief 
              Financial Officer
       

GUARANTORS: OASIS PETROLEUM INC.
OASIS PETROLEUM LLC
OASIS PETROLEUM MARKETING LLC
OASIS WELL SERVICES LLC
OASIS MIDSTREAM SERVICES LLC
OMS HOLDINGS LLC
OASIS PETROLEUM PERMIAN LLC 

By: /s/ Michael Lou
Name:  Michael Lou
Title:      Executive Vice President and Chief 
               Financial Officer
        
OMP GP LLC

By: /s/Michael Lou 
Name:  Michael Lou
Title:     President
Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

ADMINISTRATIVE AGENT,
SWINGLINE LENDER,
ISSUING BANK AND LENDER:
WELLS FARGO BANK, N.A.,
as Administrative Agent, Issuing Bank, a Swingline Lender and a Lender 

By: /s/ Courtney Kubesch 
Name: Courtney Kubesch
Title: Director

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

LENDERS:
CITIBANK, N.A., as a Lender

By: /s/ Cliff Vaz 
Name: Cliff Vaz
Title: Vice President

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

JPMORGAN CHASE BANK, N.A.,
as a Swingline Lender and a Lender
By: /s/ Anson Williams 
Name: Anson Williams
Title: Authorized Signatory

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

ROYAL BANK OF CANADA, as a Lender

By: /s/ Amy G. Josephson 
Name: Amy G. Josephson
Title: Authorized Signatory

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

CAPITAL ONE, NATIONAL ASSOCIATION, as a Lender
By: /s/ Matthew Brice 
Name: Matthew Brice
Title: Director

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, as a Lender
By: /s/ Trudy W. Nelson 
Name: Trudy W. Nelson
Title: Authorized Signatory

By: /s/ Scott W. Danvers 
Name: Scott W. Danvers
Title: Authorized Signatory

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

ING CAPITAL LLC, as a Lender
By: /s/ Juli Bieser 
Name: Juli Bieser
Title: Managing Director

By: /s/ Lauren Gutterman 
Name: Lauren Gutterman
Title: Vice President

        

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

CITIZENS BANK, N.A., as a Lender

By: /s/ Michael Flynn 
Name: Michael Flynn
Title: Senior Vice President 

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

ZB., N.A. DBA AMEGY BANK, as a Lender

By: /s/ John Moffitt 
Name: John Moffitt
Title: Senior Vice President

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

BOKF, NA dba BANK OF TEXAS, as a Lender
By: /s/ Mari Salazar 
Name: Mari Salazar
Title: Senior Vice President

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

TRUST BANK, formerly known as BRANCH BANKING AND TRUST COMPANY, as a Lender

By: /s/ Jade K. Silver 
Name: Jade K. Silver
Title: Senior Vice President

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

COMERICA BANK, as a Lender
By: /s/ Garrett Merrell 
Name: Garrett Merrell
Title: Vice President

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,
as a Lender

By: /s/ Megan Kane 
Name: Megan Kane
Title: Authorized Signatory
By: /s/ Didier Siffer
Name: Didier Siffer
Title: Authorized Signatory

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

REGIONS BANK, as a Lender
By: /s/ J. Patrick Carrigan 
Name: J. Patrick Carrigan
Title: Senior Vice President 

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

IBERIABANK, as a Lender

By: /s/ Stacy Goldstein 
Name: Stacy Goldstein
Title: Senior Vice President

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

GOLDMAN SACHS BANK USA, as a Lender

By: /s/ Mahesh Mohan 
Name: Mahesh Mohan
Title: Authorized Signatory

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

FIFTH THIRD BANK, as a Lender

By: /s/ Michael Miller 
Name: Michael Miller
Title: Vice President

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)

MIZUHO BANK, LTD., as a Lender

By: /s/ John Davies 
Name: John Davies
Title: Authorized Signatory

Signature Page to Agreement (Specified Swap Liquidations)
(Oasis Petroleum North America LLC)Exhibit 10.1

 

September 24, 2020

 

Personal & Confidential

 

Andrew W. Hasley

[Redacted.]

 

Re: Employment Offer Letter

 

Dear Andy:

 

This offer letter (the “Offer Letter”) is
effective as of, and contingent upon, the Closing of the transaction described in the Agreement and Plan of Merger among Dollar
Mutual Bancorp, Dollar Acquisition Sub, Inc., and Standard AVB Financial Corp. (the “Merger Agreement”). We
are pleased to continue your employment with Standard Bank, PaSB or its legal successor (the “Bank”) on the
terms described in this Offer Letter, and look forward to continuing this mutually rewarding relationship.

 

1.       Position, Duties,
and Compensation

 

You will serve as the President of the Bank, effective as of
the Closing as defined in the Merger Agreement (the “Effective Date”). In that capacity, you will perform duties
and responsibilities commensurate with your position and such other duties as may be assigned to you from time to time. You will
be paid a base salary of $345,000 per year, payable in accordance with the Bank’s payroll practices and subject to applicable
withholdings and deductions. You will be eligible for short-term and long-term incentive in accordance with the Bank’s policies
as in effect from time to time.

 

2.       Cancellation
of Prior Agreement

 

As of the Effective Date, you agree that your prior Employment
Agreement dated January 25, 2018, as amended by Amendment Number One to the Employment Agreement with Andrew W. Hasley dated April
30, 2020 (the “Prior Agreement”), is cancelled and terminated and of no further effect, pursuant to and subject
to the terms of Exhibit A. You acknowledge and agree that, on and after the Effective Date, your employment with the Bank is “at
will” and, subject to the terms of this Offer Letter, either your or the Bank may terminate your employment at any time,
for any reason.

 

3.       Benefits

 

You will be eligible to participate in the benefit plans and
programs as in effect for the Bank from time to time, subject to their eligibility and other terms. As of the Effective Date, the
401(k) plan, health and welfare benefits, and similar broad-based benefits are expected to remain those of the Bank as in effect
prior to the Closing. However, benefits may later transition to benefits offered by Dollar Bank or one of its affiliates. The terms
of Section 4, however, supersede any severance policy or program otherwise in effect for employees of the Bank.

 

4.       Severance

 

If your employment is involuntarily terminated by the Bank prior
to the first anniversary of the Effective Date for any reason other than for Cause (as defined below), subject to your execution
and non-revocation of a general release of claims in the form provided by the Bank or Dollar Bank (the “Release”),
the Bank will provide you with a lump sum severance payment equal to the base salary you would have received for the remainder
of the 12-month period ending on the first anniversary of the Effective Date.

 

     

     

    

 

In addition, if your employment is involuntarily terminated
by the Bank prior to the third anniversary of the Effective Date for reasons other than Cause (as defined below), subject to your
execution and non-revocation of a Release, the Bank will provide you with a lump sum severance payment equal to the product of
(a) the total monthly premium for medical, vision, and dental coverage (including any employer contributions to a health savings
account) for you and any dependents covered as of your termination, each as in effect as of the date of your termination without
Cause, and (b) that number of full months remaining in the 36-month period beginning on the Effective Date.

 

The lump sum severance payments described above will be payable
within 30 days following the effective date of the Release; provided that if the period for consideration and effectiveness of
the Release could span two tax years, the payment will be made in the later calendar year. Additionally, and regardless of the
timing of or reason for your termination, you are of course entitled to any accrued pay and vested employee benefits earned prior
to your termination.

 

As used in this Offer Letter, “Cause” means
a good faith determination by the Bank or Dollar Bank that one of the following events has occurred: (1) your personal dishonesty
in performing your duties to the Bank, (2) your gross incompetence in performing your duties on behalf of the Bank, (3) your willful
misconduct that is likely to cause economic damage to the Bank or injury to its business reputation, (4) your breach of fiduciary
duty involving personal profit, (5) your material breach of the Bank’s Code of Ethics or similar policy, (6) your intentional
or willful failure to perform your duties to the Bank after written notice, (7) your willful violation of any law, rule or regulation
(other than traffic violations or similar offenses) that reflects adversely on the reputation of the Bank, any felony conviction,
any violation of law involving moral turpitude, or any violation of any final cease-and-desist order, or (8) your material violation
of this Offer Letter or any other material written agreement between you and the Bank or its parent or other affiliate.

 

5.       Tax Matters

 

All payments to you are subject to applicable tax withholding
and reporting, and other authorized deductions. This Offer Letter is intended to provide for payments that are exempt from Section
409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), to the maximum extent feasible, and
will be construed and interpreted accordingly. To the extent an applicable exemption from Section 409A is not available, this Agreement
will be construed in a manner that complies with Section 409A. Notwithstanding any contrary implication, the Bank makes no representation
as to tax matters and will not be responsible for any taxes imposed on you, whether under Section 409A or otherwise.

 

6.       Post-Termination
Obligations

 

(a)       Nonsolicitation.
You covenant and agree that during the term of employment and for a period of eighteen (18) months thereafter following termination
of your employment for any reason, you will not, without the written consent of the Bank, directly or indirectly: (i) solicit,
offer employment to, or take any other action intended (or that a reasonable person acting in like circumstances would expect)
to have the effect of causing any officer or employee of the Bank, or any of its parent, subsidiaries, or affiliates (the “Bank
Group”), to terminate his or her employment and accept employment or become affiliated with, or provide services for
compensation in any capacity whatsoever to, any business that competes with the business of the Bank Group and that has headquarters
or offices within twenty-five (25) miles of the locations in which the Bank Group operates or has filed an application for regulatory
approval to operate, or (ii) solicit business from any customer of the Bank Group or divert or attempt to divert any business from
the Bank Group or induce, or attempt to induce, or assist others inducing or attempting to induce, any agent, customer or supplier
of the Bank Group or any other person or entity associated or doing business with the Bank Group to terminate such person’s
or entity’s relationship with the Bank Group (or to refrain from becoming associated with or doing business with the Bank
Group) or in any other manner to interfere with the relationship between the Bank Group and any such person or entity.

 

    	 	- 2 -	 

     

    

 

(b)       Noncompetition.
You covenant and agree that during the term of your employment and, solely for the period thereafter, if any, with respect to which
base salary severance is to be paid pursuant to the first paragraph of Section 4, you will not, without the written consent of
the Bank, directly or indirectly become an officer, employee, consultant, director, independent contractor, agent, sole proprietor,
joint venturer, greater than 5% equity owner or stockholder, partner, or trustee of any savings association, savings and loan association,
savings and loan holding company, credit union, bank or bank holding company, insurance company or agency, any mortgage or loan
broker, or any other financial services entity that competes with the business of the Bank Group and that has headquarters or offices
within twenty-five (25) miles of Pittsburgh, Pennsylvania.

 

(c)       Confidentiality.
At all times, both during and after your employment, you agree to maintain in strict confidence and trust all Confidential Information
(as defined below) of the Bank Group, except as necessary in the ordinary course of performing your duties. “Confidential
Information” means information belonging to the Bank Group or its customers which is of value to the Bank Group in the
course of conducting its business and the disclosure of which could result in a competitive or other disadvantage to the Bank Group
and, includes without limitation, financial information, reports and forecasts; inventions, improvements and other intellectual
property; trade secrets; know-how; designs, processes or formulae; software; market or sales information or plans; customer lists;
and business plans, prospects and opportunities, whether developed by you or to which you may have had access. Confidential Information
does not include information in the public domain.

 

(d)       Cooperation.
After termination of your employment and subject to the Bank’s payment of your reasonable expenses, you agree to furnish
such information and assistance to the Bank Group as may be reasonably required in connection with any litigation or regulatory
matter in which the Bank Group may be or become involved.

 

(e)       Injunctive Relief.
You acknowledge that any violation of this Section 6 will result in irreparable injury to the Bank Group, its business and property
and that, in the event of your breach, the Bank Group is entitled to injunctive relief without the necessity of a bond, in addition
to any other remedies or damages as may be available. You agree that the covenants described in this Section 6 are reasonable in
scope and duration and will not prevent you from earning a livelihood. You also agree that, in the event that any court or arbiter
determines that this section is overbroad or unenforceable, it will be reformed or limited to the minimum extent necessary to be
enforceable.

 

(f)       No claims.
You acknowledge and agree, that as of the date of this Offer Letter, you are aware of no claims or damages you may have against
the Bank or any of its affiliates under the Employment Agreement or under other applicable employment laws (such as, but not limited
to, laws regarding nondiscrimination, employment practices, or compensation), other than your entitlements to compensation earned
but not paid and vested employee benefits.

 

7.       Miscellaneous

 

This Offer Letter and Exhibit A will be governed by the laws
of the Commonwealth of Pennsylvania, without regard to its conflicts of laws provisions. It sets forth the entire agreement of
the parties regarding the subject matter hereof, and supersedes any prior or contemporaneous agreements regarding the subject matter
hereof.

 

    	 	- 3 -	 

     

    

 

Andy, we look forward to your acceptance of these terms.

 

	 	STANDARD
    BANK, PASB
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	By:	 	/s/
    Terence L. Graft
	 	 	 	Terence
    L. Graft, Chairman of the Board

 

AGREED AND ACCEPTED

 

 

 

	/s/
    Andrew H. Hasley	 
	Andrew W. Hasley	 

 

	Date:	 	September 24, 2020	 

 

    	 	- 4 -	 

     

    

 

EXHIBIT A

 

CANCELLATION AGREEMENT

 

This Cancellation Agreement (this “Agreement”)
is between Andrew W. Hasley (the “Executive”) and Standard Bank, PaSB (the “Bank”) and is
effective as of the Effective Date as defined in the Offer Letter to which it is attached. Capitalized terms not otherwise defined
have the meanings provided in the Offer Letter.

 

WHEREAS, the Bank and the Executive are
parties to that certain Employment Agreement dated January 25, 2018, as amended by Amendment Number One to the Employment Agreement
With Andrew W. Hasley dated April 30, 2020 (collectively, the “Employment Agreement”); and

 

WHEREAS, the Bank and the Executive are
party to that certain letter employment offer (the “Offer Letter”) dated as of September 24, 2020 but effective
as of the Effective Date, which Offer Letter supersedes and replaces in its entirety the Employment Agreement; and

 

WHEREAS, the parties desire to set forth
the consideration for the cancellation and termination of the Employment Agreement, all to be effective as of the Effective Date
and contingent upon the Closing as defined in the Merger Agreement;

 

NOW, THEREFORE, intending to be legally
bound, the parties hereto agree as follows, effective as of the Effective Date and contingent upon the Closing:

 

1.       Termination
and Cancellation. The Employment Agreement is hereby cancelled and terminated effective on the Effective Date. Other than those
obligations described in the Offer Letter and this Agreement, the parties acknowledge and agree that there are no further obligations
of either party under the Employment Agreement, other than the Executive’s entitlement to base salary and other compensation
earned prior to the Effective Date but unpaid as of such date and his obligations to comply with the terms of the Employment Agreement
through the Effective Date.

 

2.       Consideration.
As consideration for this Agreement, and in full satisfaction and release of any and all claims that may have arisen under the
Employment Agreement, the Bank will pay to the Executive in a single lump sum as of the first Bank payroll processed simultaneous
or immediately following the Effective Date, the following amounts (collectively, the “Cancellation Consideration”),
subject to potential reduction as described in Section 3:

 

(a)       One
million one hundred ten thousand dollars ($1,110,000) representing three times the highest annual rate of base salary earned by
the Executive prior to the Effective Date; plus

 

(b)       three
hundred ninety-five thousand nine hundred nineteen dollars ($395,919) representing three times the average bonus earned by the
Executive for fiscal years 2019 and 2020.

 

3.       280G Reduction.
Notwithstanding Section 2 above, the Cancellation Consideration shall be reduced, solely to the extent necessary, such that the
sum of the Cancellation Consideration and any other “parachute payments” within the meaning of Section 280G of the
Internal Revenue Code of 1986, as amended (“Section 280G”), that are payable to or with respect to the Executive
and that are contingent upon a “change in control” within the meaning of Section 280G do not exceed one dollar ($1.00)
less than three times the Executive’s “base amount”, all within the meaning of Section 280G (any reduction necessary
to comply with the Section 280G limit, the “Reduction Amount”). Any determination required under this Section
will be made in good faith by the Bank’s independent accounting firm or such other expert as may be designated by the Bank
in consultation with similar experts retained by Dollar Bank (the “Accountants”), and the Accountants shall
be directed to reasonably value compensation for personal services to be rendered by the Executive after the Effective Date, including
but not limited to those provisions in Section 6 of the Offer Letter, and make such other reasonable assumptions as are consistent
with Section 280G prior to determining any Reduction Amount. The Bank will notify the Executive of any Reduction Amount as promptly
as practicable following the signature of this Agreement and, in any event, prior to the Effective Date and make its Accountants
available for discussion with any experts of the Executive, and shall consider in good faith to the extent consistent with Section
280G input from such Executive experts. The Accountants’ determination will be final and binding on all parties.

 

    	 	  	 

     

    

 

4.       Tax and Benefit
Matters. The Cancellation Consideration is subject to applicable federal, state and local income and employment tax withholding
and reporting. This Agreement is intended to be exempt from Section 409A of the Internal Revenue Code of 1986, as amended (“Section
409A”), to the maximum extent permissible and, otherwise, to comply with Section 409A, and will be construed and interpreted
accordingly. In no event, however, will the Bank be responsible for any tax consequence of this Agreement or any Cancellation Consideration,
whether under Section 409A, Section 280G, or otherwise. Cancellation Consideration will not be considered eligible compensation
for purposes of any employee benefit plans or programs of the Bank or its affiliates unless such inclusion is required by law.

 

5.       Miscellaneous.
This Cancellation Agreement will be governed by the laws of the Commonwealth of Pennsylvania, without regard to its conflicts of
laws provisions. It sets forth the entire agreement of the parties regarding the subject matter hereof, and supersedes any prior
or contemporaneous agreements regarding the subject matter hereof.

 

IN WITNESS WHEREOF, the parties have executed
this Cancellation Agreement as of this 24th day of September, 2020, to be effective on the Effective Date.

 

	STANDARD BANK, PASB	 	 
	 	 	 
	 	 	 
	 	 	 
	By: 	/s/ Terence L. Graft	 	/s/ Andrew H. Hasley
	 	Terence L. Graft, Chairman of the Board	 	Andrew W. Hasley
	 	 	 
	 	 	 

 

    	 	- 6 -

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