Common use of COMPLIANCE COMMITTEE Clause in Contracts

COMPLIANCE COMMITTEE. (1) Within ten (10) days, the Board shall appoint a Compliance Committee of at least three (3) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom shall be an employee or controlling shareholder of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1), or a family member of such person). Upon appointment, the names of the members of the Compliance Committee, and in the event of a change of the membership, the name of any new member, shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjection. The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthly. (3) Within thirty (30) days of the appointment of the Compliance Committee and within 30 days of the end of each calendar quarter thereafter, the Compliance Committee shall submit a written progress report to the Board, setting forth in detail: (a) actions taken since the prior report (if any) to comply with each Article of this Agreement; (b) the results of those actions; and (c) a description of the actions needed and the anticipated time frame to achieve full compliance with each Article of this Agreement. (4) Within ten (10) days of the receipt of the Compliance Committee’s initial report and within ten (10) days of the receipt of the Compliance Committee’s report thereafter, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Board. (5) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten thirty (1030) daysdays of the date of this Agreement, the Board shall appoint a Compliance Committee of at least three (3) directors, who may also of which at least two (2) shall not be members of the Consent Cease and Desist Order Committee currently in existenceemployees, and none of whom shall be an employee former employees, or controlling shareholder shareholders of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance CommitteeCommittee and, and in the event of a change of the membership, the name of any new member, member shall be immediately submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionComptroller. The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s 's adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthly. (3) Within thirty (30) days of the appointment date of the Compliance Committee this Agreement and thereafter within 30 thirty (30) days of the end of each calendar quarter thereafterquarter, or within such other time period as required by the Assistant Deputy Comptroller in writing, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since the prior report (if any) to comply with each Article of this Agreement; (b) the results of those actions; and (c) a description of the actions needed and the anticipated time frame to achieve full compliance with each Article of this Agreement, identification of Bank personnel responsible for implementing the corrective actions, and the timeframes for completing the corrective actions; (b) actions taken to comply with each Article of this Agreement; and (c) the results and status of those actions. (4) Within ten (10) days of the receipt The Board shall forward a copy of the Compliance Committee’s initial report and within ten (10) days of 's report, with any additional written comments by the receipt of the Compliance Committee’s report thereafterBoard, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the BoardComptroller within fifteen (15) days of receiving such report. (5) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten five (105) days, the Board shall appoint a Compliance Committee of at least three (3) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than one (1) shall be an employee or controlling shareholder of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance CommitteeCommittee and, and in the event of a change of the membership, the name of any new member, member shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionComptroller. The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s 's adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthlymonthly and maintain detailed minutes of all meetings. (3) Within thirty forty-five (3045) days of the appointment of the Compliance Committee days, and within 30 days of at the end of each calendar quarter thereafter, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since the prior report (if any) to comply with each Article of this Agreement; (b) the results of those actions; and (c) a description of the actions needed and the anticipated time frame to achieve full compliance with each Article of this Agreement, including the names of the parties responsible for completing those actions and the specific timeframe for completion of each action; (b) actions taken to comply with each Article of this Agreement; and (c) the results and status of those actions. (4) Within ten (10) days of the receipt The Board shall forward a copy of the Compliance Committee’s initial report and 's first report, with any additional comments by the Board, to the Assistant Deputy Comptroller within ten (10) days of the receipt of the receiving such report, and shall forward all subsequent Compliance Committee’s report thereafterCommittee reports, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Board, to the Assistant Deputy Comptroller within twenty (20) days of each quarter end. (5) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten (10) daysdays of the date of this Agreement, the Board shall appoint a Compliance Committee of at least three (3) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than one (1) shall be an employee or controlling shareholder of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance CommitteeCommittee and, and in the event of a change of the membership, the name of any new member, member shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionComptroller. The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s 's adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthly. (3) Within thirty (30) days of the appointment date of the Compliance Committee this Agreement and within 30 thirty (30) days of the end of each calendar quarter thereafter, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since the prior report (if any) to comply with each Article of this Agreement; (b) the results and status of those actions; and (c) a description of the actions action needed and the anticipated time frame to achieve full compliance with each Article of this Agreement.; (4) Within ten (10) days of the receipt The Board shall forward a copy of the Compliance Committee’s initial report and 's report, with any additional comments by the Board, to the Assistant Deputy Comptroller within ten (10) days of the receipt of the Compliance Committee’s report thereafter, the Board shall submit progress reports to the Assistant Deputy Comptrollerreceiving such report. These reports shall include shall: (a) Include the Compliance Committee’s report to the Board for the applicable quarter quarter, with any additional comments by the Board.; and (5b) The Describe any actions initiated by the Board shall ensure that or the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions comply with each Article of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten thirty (1030) daysdays of the date of this Agreement, the Board shall appoint a Compliance Committee of at least three (3) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which a majority shall be an employee directors who are not employees or controlling shareholder officers of the Bank or any of its affiliates subsidiaries or affiliates. The Board shall submit in writing to the Assistant Deputy Comptroller (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1), or a family member of such person). Upon appointment, ADC”) the names of the members of the Compliance Committee, and in Committee within ten (10) days of their appointment. In the event of a change of the membership, the Board shall submit in writing to the ADC within ten (10) days the name of any new or resigning committee member, shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjection. The Compliance Committee shall be responsible for monitoring monitor and coordinating oversee the Bank’s adherence to compliance with the provisions of this Agreement. (2) . The Compliance Committee shall meet at least monthlyquarterly and maintain minutes of its meetings. (32) Within thirty (30) days after the first quarter end following the date of the appointment of the Compliance Committee this Agreement, and thereafter within 30 thirty (30) days of after the end of each calendar quarter thereafterquarter, the Compliance Committee shall submit to the Board a written progress report evaluation of the Bank’s performance to the Board, Agreement setting forth in detail: (a) a description of the corrective actions taken since the prior report (if any) needed to comply achieve compliance with each Article Article, paragraph, and subparagraph of this Agreement; (b) the results specific corrective actions undertaken to comply with each Article, paragraph, and subparagraph of those actionsthis Agreement; and (c) a description the results and status of the corrective actions needed for each Article, paragraph, and the anticipated time frame to achieve full compliance with each Article subparagraph of this Agreement. (3) Within forty-five (45) days after the first quarter end following the date of this Agreement, and thereafter within forty-five (45) days after the end of each quarter, the Board shall review the written evaluation and determine the corrective actions the Board will require management to take to address any identified shortcomings. The Board’s review of the evaluation and discussion of any required corrective actions to address any identified shortcomings shall be documented in the Board’s meeting minutes. (4) Within ten sixty (1060) days after the first quarter end following the date of the receipt of the Compliance Committee’s initial report this Agreement, and thereafter within ten sixty (1060) days after the end of the receipt of the Compliance Committee’s report thereaftereach quarter, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include ADC a copy of the Compliance Committee’s report to evaluation, as well as a detailed description of the corrective actions the Board for the applicable quarter with will require management to take to address any additional comments by the Boardidentified shortcomings. (5) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten five (105) daysdays of the date of this Agreement, the Board shall appoint a and maintain an active Compliance Committee of at least three (3) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than one (1) shall be an employee employee, former employee, or controlling shareholder of the Bank or any of its affiliates (as the term “"affiliate” " is defined in 12 U.S.C. § 371c(b)(1371c (b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance CommitteeCommittee and, and in the event of a change of the membership, the name of any new member, member shall be submitted in writing to the Assistant Deputy Comptroller Director for supervisory nonobjectionSpecial Supervision ("Director"). The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s 's adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthly. (3) Within thirty forty-five (3045) days of the appointment date of the Compliance Committee this Agreement and within 30 days of the end of each calendar every quarter thereafter, the Compliance Committee shall submit continue to ensure the submission of a written progress report to the Board, Board setting forth in detail: (a) a description of the actions taken since the prior report (if any) needed to comply achieve full compliance with each Article of this Agreement; (b) the results actions taken to comply with each Article of those actionsthis Agreement; and (c) a description the results and status of the actions needed and the anticipated time frame to achieve full compliance with each Article of this Agreementthose actions. (4) Within ten (10) days of the receipt The Board shall forward a copy of the Compliance Committee’s initial report and 's report, with any additional comments by the Board, to the Director within ten (10) days of the receipt of the Compliance Committee’s report thereafter, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Boardreceiving such report. (5) All reports or plans which the Bank or Board has agreed to submit to the Director pursuant to this Agreement shall be forwarded, by overnight mail or via email, to the following: Director for Special Supervision with a copy to: Comptroller of the Currency Comptroller of the Currency 000 X Xxxxxx, X.X. Xxxxx Xxx Xxxx East Office Mail Stop 7-4 000 Xxxxxxxx Xxxxxx, Xxxxx 000 Xxxxxxxxxx, XX 00000 Xxxxxx, Xxx Xxxxxx 00000 (6) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten five (105) daysdays of the date of this Agreement, the Board shall appoint a Compliance Committee of at least three (3) directorsmembers and, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than two (2) shall be an employee or controlling shareholder employees of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance CommitteeCommittee and, and in the event of a change of the membership, the name of any new member, member shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionComptroller. The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s adherence to the provisions of this Agreement. (2) The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s adherence to the provisions of this Agreement and shall meet at least monthly. (3) Within thirty (30) days of the appointment of the Compliance Committee By no later than December 31, 2009, and within 30 days of by the end of each every calendar quarter month thereafter, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since a description of the prior report (if any) action needed to comply achieve full compliance with each Article of this Agreement; (b) the results actions taken to comply with each Article of those actionsthis Agreement; and (c) the results and status of those actions. (4) The Board shall provide a description summary report of the actions needed and the anticipated time frame to achieve full progress reached in attaining compliance with each Article of this Agreement. Agreement to the Assistant Deputy Comptroller within fifteen (4) Within ten (1015) days of the receipt end of each calendar quarter. (5) All reports or plans which the Compliance Committee’s initial report and within ten (10) days of the receipt of the Compliance Committee’s report thereafter, the Bank or Board shall has agreed to submit progress reports to the Assistant Deputy Comptroller. These reports Comptroller pursuant to this Agreement shall include the Compliance Committee’s report be forwarded to the Board for the applicable quarter with any additional comments by the Board.the: Assistant Deputy Comptroller Denver Field Xxxxxx 0000 00xx Xxxxxx, Xxxxx 000 Xxxxxx, Xxxxxxxx 00000 (56) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement ensure implementation of and adhere adherence to all provisions of this Agreementthe policies, procedures and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under programs required by this Agreement.

COMPLIANCE COMMITTEE. ‌ (1) Within ten (10) daysEffective immediately, the Board shall appoint a continue to maintain an active Compliance Committee of at least three (3) directors, who may also of which at least two (2) shall not be members employees, former employees, or controlling shareholders of the Consent Cease and Desist Order Committee currently in existence, and none of whom shall be an employee or controlling shareholder of the Bank TSP or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance Committee, and in In the event of a change of in the Compliance Committee membership, the name of any new member, member shall be immediately submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionDirector. The Compliance Committee shall be responsible for monitoring and coordinating the BankTSP’s adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthlymonthly and prepare a report as described in paragraph three (3) below. (3) Within thirty sixty (3060) days of the appointment date of the Compliance Committee this Agreement, and within 30 sixty (60) days of after the end of each calendar quarter thereafter, or within such other time period as the Regulators require in writing, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since the prior report (if any) to comply with each Article of this Agreement; (b) the results of those actions; and (cb) a description of the remaining actions needed and the anticipated time frame to achieve full compliance with each Article of this Agreement, TSP personnel responsible for implementing the corrective actions, and the timeframes for completion. (4) Within ten (10) days of the receipt The Board shall forward a copy of the Compliance Committee’s initial report and within ten (10) days of the receipt of the Compliance Committee’s report thereafterreport, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Board, to the Director within twenty (20) days of receiving such report. (5) The Board TSP shall ensure that periodically communicate to its client depository institutions information accurately detailing the Bank has sufficient processes, personnel, and control systems actions taken by the TSP to effectively implement and adhere to all provisions comply with the terms of this Agreement. Such communication shall be in writing and take place as frequently as necessary, to keep the client depository institutions adequately informed of the TSP’s progress and that Bank personnel have sufficient training its applicability to and authority impact upon the services they provide, but in no event less frequently than the quarterly progress reports to execute their duties and responsibilities under this Agreementthe Regulators.

COMPLIANCE COMMITTEE. (1) Within ten thirty (1030) daysdays of the date of this Agreement, the Board shall appoint a Compliance Committee of at least three (3) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which a majority shall be an employee directors who are not employees or controlling shareholder officers of the Bank or any of its affiliates subsidiaries or affiliates. The Board shall submit in writing to the Assistant Deputy Comptroller (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1), or a family member of such person). Upon appointment, ADC”) the names of the members of the Compliance Committee, and in Committee within ten (10) days of their appointment. In the event of a change of the membership, the Board shall submit in writing to the ADC within ten (10) days the name of any new or resigning committee member, shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjection. The Compliance Committee shall be responsible for monitoring monitor and coordinating oversee the Bank’s adherence to compliance with the provisions of this Agreement. (2) . The Compliance Committee shall meet at least monthlyquarterly and maintain minutes of its meetings. (32) Within thirty (30) days after the first quarter end following the date of the appointment of the Compliance Committee this Agreement, and thereafter within 30 thirty (30) days of after the end of each calendar quarter thereafterquarter, the Compliance Committee shall submit to the Board a written progress report to the Board, setting forth in detail: (a) a description of the corrective actions taken since the prior report (if any) needed to comply achieve compliance with each Article Article, paragraph, and subparagraph of this Agreement; (b) the results specific corrective actions undertaken to comply with each Article, paragraph, and subparagraph of those actionsthis Agreement; and (c) a description the results and status of the corrective actions needed for each Article, paragraph, and the anticipated time frame to achieve full compliance with each Article subparagraph of this Agreement. (3) Within forty-five (45) days after the first quarter end following the date of this Agreement, and thereafter within forty-five (45) days after the end of each quarter, the Board shall review the written evaluation and determine the corrective actions the Board will require management to take to address any identified shortcomings. The Board’s review of the evaluation and discuss of any required corrective actions to address any identified shortcomings shall be documented in the Board’s meeting minutes. (4) Within ten sixty (1060) days after the first quarter end following the date of the receipt of the Compliance Committee’s initial report this Agreement, and thereafter within ten sixty (1060) days after the end of the receipt of the Compliance Committee’s report thereaftereach quarter, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include ADC a copy of the Compliance Committee’s report to evaluation, as well as a detailed description of the corrective actions the Board for the applicable quarter with will require management to take to address any additional comments by the Boardidentified shortcomings. (5) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten thirty (1030) daysdays of the date of this Agreement, the Board shall appoint a Compliance Committee of at least three (3) directors, who may also of which at least two (2) shall not be members of the Consent Cease and Desist Order Committee currently in existenceemployees, and none of whom shall be an employee former employees, or controlling shareholder shareholders of the Bank or any of its affiliates (as the term “"affiliate” " is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance CommitteeCommittee and, and in the event of a change of the membership, the name of any new member, member shall be immediately submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionComptroller. The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s 's adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthly. (3) Within thirty (30) days of the appointment date of the Compliance Committee this Agreement and thereafter within 30 thirty (30) days of the end of each calendar quarter thereafterquarter, or within such other time period as required by the Assistant Deputy Comptroller in writing, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since the prior report (if any) to comply with each Article of this Agreement; (b) the results of those actions; and (c) a description of the actions needed and the anticipated time frame to achieve full compliance with each Article of this Agreement, identification of Bank personnel responsible for implementing the corrective actions, and the timeframes for completing the corrective actions; (b) actions taken to comply with each Article of this Agreement; and (c) the results and status of those actions. (4) Within ten (10) days of the receipt The Board shall forward a copy of the Compliance Committee’s initial report and within ten (10) days of 's report, with any additional written comments by the receipt of the Compliance Committee’s report thereafterBoard, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the BoardComptroller within fifteen (15) days of receiving such report. (5) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten fifteen (1015) dayscalendar days of the date of this Agreement, the Board shall appoint a Compliance Committee of at least three (3) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than one (1) shall be an employee or controlling shareholder of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance CommitteeCommittee and, and in the event of a change of the membership, the name of any new member, member shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionwithin ten (10) calendar days of any such appointment or change. The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthly. (3) Within thirty sixty (3060) calendar days of the appointment date of the Compliance Committee this Agreement and within 30 days of by the end of each calendar quarter thereafter, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since a description of the prior report (if any) action needed to comply achieve full compliance with each Article of this Agreement; (b) the results of those actions; and (c) a description of the actions needed and the anticipated time frame taken to achieve full compliance comply with each Article of this Agreement; and, (c) the results and status of those actions. (4) Within ten (10) days of the receipt The Board shall forward a copy of the Compliance Committee’s initial report and within ten (10) days of the receipt of the Compliance Committee’s report thereafterreport, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Board, to the Assistant Deputy Comptroller within ten (10) calendar days of receiving such report. (5) The Board shall ensure that the Bank has sufficient processes, personnel, resources, and control systems to effectively implement and adhere to all provisions of this Formal Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Formal Agreement.

COMPLIANCE COMMITTEE. (1) Within ten (10) days, the The Board shall appoint maintain a Compliance Committee of at least three (3) directorsmembers, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which a majority shall be an employee directors who are not employees or controlling shareholder officers of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1), subsidiaries or a family member of such person)affiliates. Upon appointment, the names of the members of the Compliance Committee, and in In the event of a change of the membership, the Board shall submit in writing to the Examiner-in-Charge within ten (10) days the name of any new or resigning committee member, shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjection. The Compliance Committee shall be responsible for approving the action plan required under Article III of this Agreement, along with monitoring and coordinating overseeing the Bank’s adherence to compliance with the provisions of this Agreement. (2) . The Compliance Committee shall meet at least monthlyquarterly and maintain minutes of its meetings. (32) Within thirty forty-five (3045) days after the end of the appointment first full calendar quarter after the Bank receives a written determination of no supervisory objection to the Compliance Committee action plan required under Article III of this Agreement, and thereafter within 30 forty-five (45) days of after the end of each calendar quarter thereafterquarter, the Bank shall prepare, and the Compliance Committee shall submit to the Board, a written progress report to the Board, setting forth in detail: (a) the specific corrective actions taken since the prior report (if any) undertaken to comply with each Article of this Agreement; (b) the results and status of those the corrective actions; and (c) a description of the outstanding corrective actions needed and the anticipated time frame to achieve full compliance with each Article of this AgreementAgreement and the party or parties responsible for the completion of outstanding corrective actions. (43) Within ten (10) days The Board shall forward a copy of the receipt of the Compliance Committee’s initial report and within ten (10) days of the receipt of the Compliance Committee’s report thereafterprogress report, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Board, to the Examiner-in-Charge within fifteen (15) days following the first Board meeting following the Board’s receipt of such report. (5) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten (10) daysdays of this Agreement, the Board shall appoint a Compliance Committee of at least three (3) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than one (1) shall be an employee or controlling shareholder of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § USC 371c(b)(1)), or a family member of any such person). The Board shall remain responsible for the Bank’s adherence to the provisions of this Agreement, and the appointment of the Compliance Committee shall not relieve the Board of its compliance responsibilities. Upon appointment, the names of the members of the Compliance CommitteeCommittee and, and in the event of a change of the membership, the name of any new member, member shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjection. Comptroller. (2) The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s adherence to the provisions of this Agreement. (2) The Compliance Committee the Agreement and shall meet at least monthly. (3) Within thirty (30) days of the appointment date of the Compliance Committee this Agreement and within 30 days of the end of each every calendar quarter thereafter, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since a description of the prior report (if any) action needed to comply achieve full compliance with each Article of this Agreement; (b) the results actions taken to comply with each Article of those actionsthis Agreement; and (c) the results and status of those actions. (4) The Board shall provide a description summary report of the actions needed and the anticipated time frame to achieve full progress reached in attaining compliance with each Article of this Agreement.the Agreement to the Assistant Deputy Comptroller within thirty (4) Within ten (1030) days of the receipt end of each calendar quarter. (5) All reports or plans which the Compliance Committee’s initial report and within ten (10) days of the receipt of the Compliance Committee’s report thereafter, the Bank or Board shall has agreed to submit progress reports to the Assistant Deputy Comptroller. These reports Comptroller pursuant to this Agreement shall include be forwarded to the: Assistant Deputy Comptroller Comptroller of the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Board.Currency - Joplin Field Xxxxxx 0000 Xxxxx Xxxx Xxxxxx, Xxxxx 000 Xxxxxx, Xxxxxxxx 00000 (56) The Board shall ensure that the Bank has sufficient the processes, personnel, and control systems to effectively implement ensure implementation of and adhere adherence to all provisions of this Agreementthe policies, programs and that Bank personnel have sufficient training and authority procedures developed pursuant to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten (10) daysEffective immediately, the Board shall appoint a continue to maintain an active Compliance Committee of at least three (3) directors, who may also of which at least two (2) shall not be members employees, former employees, or controlling shareholders of the Consent Cease and Desist Order Committee currently in existence, and none of whom shall be an employee or controlling shareholder of the Bank TSP or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance Committee, and in In the event of a change of in the Compliance Committee membership, the name of any new member, member shall be immediately submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionDirector. The Compliance Committee shall be responsible for monitoring and coordinating the BankTSP’s adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthlymonthly and prepare a report as described in paragraph three (3) below. (3) Within thirty sixty (3060) days of the appointment date of the Compliance Committee this Agreement, and within 30 sixty (60) days of after the end of each calendar quarter thereafter, or within such other time period as the Regulators require in writing, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since the prior report (if any) to comply with each Article of this Agreement; (b) the results of those actions; and (cb) a description of the remaining actions needed and the anticipated time frame to achieve full compliance with each Article of this Agreement, TSP personnel responsible for implementing the corrective actions, and the timeframes for completion. (4) Within ten (10) days of the receipt The Board shall forward a copy of the Compliance Committee’s initial report and within ten (10) days of the receipt of the Compliance Committee’s report thereafterreport, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Board, to the Director within twenty (20) days of receiving such report. (5) The Board TSP shall ensure that periodically communicate to its client depository institutions information accurately detailing the Bank has sufficient processes, personnel, and control systems actions taken by the TSP to effectively implement and adhere to all provisions comply with the terms of this Agreement. Such communication shall be in writing and take place as frequently as necessary, to keep the client depository institutions adequately informed of the TSP’s progress and that Bank personnel have sufficient training its applicability to and authority impact upon the services they provide, but in no event less frequently than the quarterly progress reports to execute their duties and responsibilities under this Agreementthe Regulators.

COMPLIANCE COMMITTEE. (1) Within ten thirty (1030) daysdays of the date of this Agreement, the Board shall appoint a Compliance Committee of at least three (3) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than one (1) shall be an 1 In order to facilitate the Office of the Comptroller of the Currency’s (OCC) enforcement and administration of former Office of Thrift Supervision (OTS) rules and to make appropriate changes to these rules to reflect OCC supervision of federal savings associations as of the transfer date, the OCC republished, with nomenclature and other technical changes, the OTS regulations formerly found in Chapter V of Title 12 of the Code of Federal Regulations. The republished regulations are codified with the OCC’s regulations in Chapter I at parts 100 through 197 (“Republished Regulations”), effective on July 21, 2011. The Republished Regulations supersede the OTS regulations in Chapter V for purposes of OCC supervision and regulation of federal savings associations. OTS Integration Pursuant to the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act; Interim Final Rule, 76 Fed.Reg. 48,950 (Aug. 9, 2011). References in this document are to the Republished Regulations at 12 C.F.R. Chapter I. employee or controlling shareholder of the Bank Association or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance CommitteeCommittee and, and in the event of a change of the membership, the name of any new member, member shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionComptroller. The Compliance Committee shall be responsible for monitoring and coordinating the BankAssociation’s adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthly. (3) Within thirty sixty (3060) days of the appointment date of the Compliance Committee this Agreement and within 30 ten (10) days of the end of each calendar fiscal quarter thereafter, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since a description of the prior report (if any) action needed to comply achieve full compliance with each Article of this Agreement; (b) the results actions taken to comply with each Article of those actionsthis Agreement; and (c) a description the results and status of the actions needed and the anticipated time frame to achieve full compliance with each Article of this Agreementthose actions. (4) Within ten (10) days of the receipt The Board shall forward a copy of the Compliance Committee’s initial report and 's report, with any additional comments by the Board, to the Assistant Deputy Comptroller within ten (10) days of the receipt of the Compliance Committee’s report thereafter, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Boardreceiving such report. (5) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten fifteen (1015) days, the Board shall appoint a Compliance Committee of at least three five (35) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than one (1) shall be an employee or controlling shareholder of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance CommitteeCommittee and, and in the event of a change of the membership, the name of any new member, member shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionComptroller. The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s 's adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthly. (3) Within thirty (30) days of the appointment of the Compliance Committee and within 30 every thirty (30) days of the end of each calendar quarter thereafter, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since a description of the prior report (if any) action needed to comply achieve full compliance with each Article of this Agreement; (b) the results actions taken to comply with each Article of those actionsthis Agreement; and (c) a description the results and status of the actions needed and the anticipated time frame to achieve full compliance with each Article of this Agreementthose actions. (4) Within ten (10) days of the receipt The Board shall forward a copy of the Compliance Committee’s initial report and 's report, with any additional comments by the Board, to the Assistant Deputy Comptroller within ten (10) days of the receipt of the Compliance Committee’s report thereafter, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Boardreceiving such report. (5) All reports or plans which the Bank or Board has agreed to submit to the OCC pursuant to this Agreement shall be forwarded, by overnight mail or via email, to: Xxxx X. Xxxxx Assistant Deputy Comptroller Carolinas Field Xxxxxx 000 Xxxxx Xxxxx Xxxxxx, Suite 700 Charlotte, NC 28281 (6) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten five (105) daysdays of this Agreement, the Board shall appoint a Compliance Committee of at least three (3) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than one (1) shall be an employee or controlling shareholder employees of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1), or a family member of such person). Upon appointment, the names of the members of the Compliance CommitteeCommittee and, and in the event of a change of the membership, the name of any new member, member shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjection. Comptroller. (2) The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s adherence to the provisions of this Agreement. (2) The Compliance Committee Agreement and shall meet at least monthly. (3) Within thirty (30) days of the appointment of the Compliance Committee By no later than December 31, 2010, and within 30 days of by the end of each every calendar quarter month thereafter, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since a description of the prior report (if any) action needed to comply achieve full compliance with each Article of this Agreement; (b) the results actions taken to comply with each Article of those actionsthis Agreement; and (c) the results and status of those actions. (4) The Board shall provide a description summary report of the actions needed and the anticipated time frame to achieve full progress reached in attaining compliance with each Article of this Agreement. Agreement to the Assistant Deputy Comptroller within thirty (4) Within ten (1030) days of the receipt end of each calendar quarter. (5) All reports or plans which the Compliance Committee’s initial report and within ten (10) days of the receipt of the Compliance Committee’s report thereafter, the Bank or Board shall has agreed to submit progress reports to the Assistant Deputy Comptroller. These reports Comptroller pursuant to this Agreement shall include the Compliance Committee’s report be forwarded to the Board for the applicable quarter with any additional comments by the Board.the: Assistant Deputy Comptroller Omaha Field Xxxxxx 00000 XXX Xxxxxxx, Xxxxx 000 Xxxxx, XX 00000 (56) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement ensure implementation of and adhere adherence to all provisions the policies, procedures, and programs required by this Agreement. (1) Effective immediately, the Bank shall only declare dividends when: (a) the Bank maintains adequate capital as required by the Comptroller and sufficient to be well capitalized under 12 C.F.R. Part 6; (b) the Bank is in compliance with the Bank’s Capital Plan as described below; (d) the Bank has received a prior written determination of no supervisory objection from the Assistant Deputy Comptroller. (2) Within ninety (90) days of this Agreement, the Board shall develop, implement, and thereafter ensure Bank adherence to a written Capital Plan for the Bank covering at least the next three years (hereafter the “Bank’s Capital Plan”), complete with specific time frames that incorporate the requirements of this Article. A copy of the Bank’s Capital Plan shall be forwarded to the Assistant Deputy Comptroller for a prior written determination of no supervisory objection. (3) The Bank’s Capital Plan shall establish objectives and projections for the Bank’s overall risk profile, earnings performance, growth expectations, balance sheet mix, off-balance sheet activities, liability structure, capital adequacy, product line development and market segments that the Bank personnel have sufficient training intends to promote or develop, together with specific strategies to achieve those objectives, that are specific, measurable, verifiable, and, at a minimum, address or include: (a) minimum capital requirements based upon a detailed analysis of the Bank’s assets, liabilities, earnings, fixed assets, criticized asset levels, concentrations of credit, growth objectives, internal control weaknesses, level of operational risk, and authority dividend expectations; (b) a dividend policy that only permits the declaration of a dividend in accordance with Paragraph (1) of this Article; (c) a financial forecast to execute their duties include projections for major balance sheet and responsibilities income statement accounts and desired financial ratios over the next three years that shall address or include consideration of the requirements of this Article; (d) identification and assessment of the primary source(s) of capital including an evaluation of availability, from which the Bank will strengthen its capital structure and maintain capital in excess of that required by the Comptroller and set forth in the Bank’s Capital Plan; (e) a contingency capital funding plan in accordance with paragraph (4) of this Article that forecasts capital needs and capital sources under this Agreementvarious potential capital stress scenarios, including: (i) a description of each potential capital stress scenario; (ii) the projected effect of each potential capital stress scenario on the Bank’s capital adequacy and ability to maintain adequate capital as required by the OCC; and (iii) action plans on how management will address each potential capital stress scenario. (f) systems to monitor the Bank’s progress in meeting the plan’s goals and objectives; and (g) an annual review with appropriate revisions and adjustments to the plan. (4) The Capital Plan shall establish a contingency capital funding process and plan that identifies alternative capital sources should the primary source(s) not be available. At a minimum, the contingency capital funding process and plan shall address or identify: (a) the amount needed to maintain capital adequacy; (b) the timing of needed capital; (c) contingent sources and form of capital ranked by preference; (d) financial analysis of the holding company’s ability and willingness to inject needed capital, and; (e) financial analysis of the principal shareholders’ ability and willingness to inject needed capital. (5) Upon receiving a written determination of no supervisory objection from the Assistant Deputy Comptroller, the Board shall immediately implement and thereafter ensure adherence to the Bank’s Capital Plan.

COMPLIANCE COMMITTEE. (1) Within ten (10) days, The Compliance Committee appointed by the Board pursuant to the Agreement by and between BNB Bank, National Association, Fort Xxx, New Jersey and the Comptroller of the Currency, dated December 18, 2009 (“Formal Agreement dated December 18, 2009”), shall appoint a Compliance Committee continue to consist of at least three (3) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than one (1) shall be an employee or controlling shareholder of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance Committee, and in In the event of a change of the membership, the name of any new member, member shall be immediately submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionComptroller. The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s 's adherence to the provisions of this Agreement. (2) The Compliance Committee shall continue to meet at least monthly. (3) Within thirty (30) days of the appointment of date the Compliance Committee and within 30 days last submitted a written progress report to the Board under the terms of the end of each calendar quarter thereafterFormal Agreement dated December 18, 2009, the Compliance Committee shall submit a written progress report to the Board, Board and thereafter submit such report to the Board every thirty (30) days setting forth in detail: (a) a description of the actions needed to achieve and thereafter maintain full compliance with each Article of this Agreement; (b) actions taken since the prior report (if any) to comply with each Article of this Agreement; (bc) the results and status of those actions; and (cd) a description of the actions needed and process by which the anticipated time frame to achieve full compliance with each Article information required by subparagraphs (3)(a) through (c) of this AgreementArticle was independently verified. (4) Within ten (10) days of the receipt The Board shall continue to forward a copy of the Compliance Committee’s initial report and within ten (10) days of 's report, with any additional written comments by the receipt of the Compliance Committee’s report thereafterBoard, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the BoardComptroller within fifteen (15) days of receiving such report. (5) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten thirty (1030) daysdays of the date of this Formal Agreement, the Board shall appoint a Compliance Committee of at least three (3) 3 directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than one (1) shall be an employee or controlling shareholder of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1371c (b) (1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance Committee, and in the event of a change of the membership, the name of any new member, Committee shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionComptroller. The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s adherence to the provisions of this Formal Agreement. (2) Within forty-five (45) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written action plan detailing the Board’s assessment of what needs to be done to address the Articles in the Agreement, specifying how the Board will implement the plan, and setting forth a timetable for the implementation of the plan. (3) The Compliance Committee shall meet at least monthly. (34) Within thirty forty-five (3045) days of the appointment date of the Compliance Committee this Formal Agreement and within 30 every ninety (90) days of the end of each calendar quarter thereafter, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since the prior report (if any) to comply with each Article of this Agreement; (b) the results of those actions; and (c) a description of the actions action needed and the anticipated time frame to achieve full compliance with each Article of this Formal Agreement.; (4b) Within ten actions taken to comply with each Article of this Formal Agreement; and (10c) days the results and status of the receipt of the Compliance Committee’s initial report and within ten (10) days of the receipt of the Compliance Committee’s report thereafter, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Boardthose actions. (5) The Board shall ensure that forward a copy of the Bank has sufficient processesCompliance Committee’s report, personnelwith any additional comments by the Board, and control systems to effectively implement and adhere to all provisions the Assistant Deputy Comptroller within ten (10) days of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreementreceiving such report.

COMPLIANCE COMMITTEE. (1) Within ten thirty (1030) daysdays of the date of this Agreement, the Board shall appoint a Compliance Committee of at least three (3) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than one (1) shall be an 1 In order to facilitate the Office of the Comptroller of the Currency’s (OCC) enforcement and administration of former Office of Thrift Supervision (OTS) rules and to make appropriate changes to these rules to reflect OCC supervision of federal savings associations as of the transfer date, the OCC republished, with nomenclature and other technical changes, the OTS regulations formerly found in Chapter V of Title 12 of the Code of Federal Regulations. The republished regulations are codified with the OCC’s regulations in Chapter I at parts 100 through 197 (“Republished Regulations”), effective on July 21, 2011. The Republished Regulations supersede the OTS regulations in Chapter V for purposes of OCC supervision and regulation of federal savings associations. OTS Integration Pursuant to the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act; Interim Final Rule, 76 Fed.Reg. 48,950 (Aug. 9, 2011). References in this document are to the Republished Regulations at 12 C.F.R. Chapter I. employee or controlling shareholder of the Bank Association or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance CommitteeCommittee and, and in the event of a change of the membership, the name of any new member, member shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionComptroller. The Compliance Committee shall be responsible for monitoring and coordinating the BankAssociation’s adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthly. (3) Within thirty sixty (3060) days of the appointment date of the Compliance Committee this Agreement and within 30 twenty (20) days of the end of each calendar fiscal quarter thereafter, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since a description of the prior report (if any) action needed to comply achieve full compliance with each Article of this Agreement; (b) the results actions taken to comply with each Article of those actionsthis Agreement; and (c) a description the results and status of the actions needed and the anticipated time frame to achieve full compliance with each Article of this Agreementthose actions. (4) Within ten (10) days of the receipt The Board shall forward a copy of the Compliance Committee’s initial report and report, with any additional comments by the Board, to the Assistant Deputy Comptroller within ten (10) days of the receipt of the Compliance Committee’s report thereafter, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Boardreceiving such report. (5) The Board shall ensure that the Bank has sufficient processes, personnel, and control systems to effectively implement and adhere to all provisions of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreement.

COMPLIANCE COMMITTEE. (1) Within ten (10) days, the Board shall appoint a Compliance Committee of at least three five (35) directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and which none of whom shall be an employee or controlling shareholder employees of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance Committee, and in the event of a change of the membership, the name of any new member, Committee shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionComptroller. The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthly. (3) Within thirty fifteen (3015) days of the appointment of the Compliance Committee and within 30 every thirty (30) days of the end of each calendar quarter thereafter, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since the prior progress report (if any) to comply with each Article of this the Agreement; (b) the results of those actions; and (c) a description of the actions needed and the anticipated time frame to achieve full compliance with each Article of this Agreement. The progress reports should also include any actions initiated by the Board and the Bank pursuant to the criticisms and comments in the XXX or in any future XXX. (4) Within ten (10) days of the receipt The Board shall forward a copy of the Compliance Committee’s initial report and within ten (10) days of the receipt of the Compliance Committee’s report thereafterreport, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Board, to the Assistant Deputy Comptroller. (5) The Board shall ensure that Assistant Deputy Comptroller has the Bank has sufficient processes, personnel, discretion to amend reporting frequency and control systems to effectively implement and adhere to all provisions content based on the level of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreementbank progress.

COMPLIANCE COMMITTEE. (1) Within ten thirty (1030) daysdays of the date of this Formal Agreement, the Board shall appoint a Compliance Committee of at least three (3) 3 directors, who may also be members of the Consent Cease and Desist Order Committee currently in existence, and none of whom which no more than one (1) shall be an employee or controlling shareholder of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1371c (b) (1)), or a family member of any such person). Upon appointment, the names of the members of the Compliance Committee, and in the event of a change of the membership, the name of any new member, Committee shall be submitted in writing to the Assistant Deputy Comptroller for supervisory nonobjectionComptroller. The Compliance Committee shall be responsible for monitoring and coordinating the Bank’s 's adherence to the provisions of this Formal Agreement. (2) Within forty-five (45) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written action plan detailing the Board's assessment of what needs to be done to address the Articles in the Agreement, specifying how the Board will implement the plan, and setting forth a timetable for the implementation of the plan. (3) The Compliance Committee shall meet at least monthly. (34) Within thirty forty-five (3045) days of the appointment date of the Compliance Committee this Formal Agreement and within 30 every ninety (90) days of the end of each calendar quarter thereafter, the Compliance Committee shall submit a written progress report to the Board, Board setting forth in detail: (a) actions taken since the prior report (if any) to comply with each Article of this Agreement; (b) the results of those actions; and (c) a description of the actions action needed and the anticipated time frame to achieve full compliance with each Article of this Formal Agreement.; (4b) Within ten actions taken to comply with each Article of this Formal Agreement; and (10c) days the results and status of the receipt of the Compliance Committee’s initial report and within ten (10) days of the receipt of the Compliance Committee’s report thereafter, the Board shall submit progress reports to the Assistant Deputy Comptroller. These reports shall include the Compliance Committee’s report to the Board for the applicable quarter with any additional comments by the Boardthose actions. (5) The Board shall ensure that forward a copy of the Bank has sufficient processesCompliance Committee's report, personnelwith any additional comments by the Board, and control systems to effectively implement and adhere to all provisions the Assistant Deputy Comptroller within ten (10) days of this Agreement, and that Bank personnel have sufficient training and authority to execute their duties and responsibilities under this Agreementreceiving such report.