Common use of Fee Structure and Payment Schedule Clause in Contracts

Fee Structure and Payment Schedule. The Bank agrees to pay RP Financial a fixed fee of $25,000 for preparation and delivery of the original appraisal report, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $5,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; • $20,000 upon delivery of the completed original appraisal report; and, • $5,000 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. The Bank will reimburse RP Financial for out-of-pocket expenses incurred in preparation of the valuation. Such out-of-pocket expenses will likely include travel, telephone/facsimile, printing, shipping, computer and data services. RP Financial will agree to limit reimbursable expenses in connection with this appraisal engagement, subject to written authorization from the Bank to exceed such level. In the event the Bank shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Bank agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. XX Xxxxxxxx’x standard billing rates range from $75 per hour for research associates to $400 per hour for managing directors. If during the course of the proposed transaction, events occur so as to materially change the nature or the work content of the services described in this contract, the terms of said contract shall be subject to renegotiation by the Bank and RP Financial. Such unforeseen events shall include, but not be limited to, major changes (actual or proposed by the applicable regulatory authorities) in the conversion regulations, appraisal guidelines or processing procedures as they

Fee Structure and Payment Schedule. The Bank Company agrees to pay RP Financial a fixed fee of $25,000 60,000 for preparation and delivery of the original appraisal reportreport and $10,000 for each subsequent update, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $5,000 10,000 upon execution of the this letter of agreement engaging RP Financial’s appraisal services; • $20,000 50,000 upon delivery of the completed original appraisal report; and, • $5,000 10,000 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. The Bank Company will reimburse RP Financial for reasonable out-of-pocket expenses incurred in preparation of the valuationoriginal appraisal and subsequent updates. Such out-of-pocket expenses will likely include travel, printing, telephone/, facsimile, printingshipping, shippingreasonable counsel fees, computer and data services. RP Financial , and will agree to limit reimbursable expenses not exceed $8,000 in connection with this appraisal engagementthe aggregate, subject to written without the Company’s authorization from the Bank to exceed such this level. In the event the Bank Company shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction offering prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Bank Company agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. XX Xxxxxxxx’x RP Financial’s standard billing rates range from $75 per hour for research associates to $400 450 per hour for managing directors. If during the course of the proposed transaction, unforeseen events occur so as to materially change the nature or the work content of the services described in this contract, the terms of said contract shall be subject to renegotiation by the Bank Company and RP Financial. Such unforeseen events shall include, but not be limited to, major changes (actual or proposed by the applicable regulatory authorities) in the conversion regulations, appraisal guidelines or processing procedures as theythey relate to appraisals, major changes in management or procedures, operating policies or philosophies, and excessive delays or suspension of processing of applications by the regulators such that completion of the transaction requires the preparation by RP Financial of a new appraisal.

Fee Structure and Payment Schedule. The Bank Association agrees to pay RP Financial a fixed fee of $25,000 50,000 for preparation and delivery of the original appraisal report, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $5,000 10,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; • $20,000 35,000 upon delivery of the completed original appraisal report; and, and • $5,000 for each valuation update that may be required, provided that the transaction is not materially delayed for reasons described below. The Bank Association will reimburse RP Financial for out-of-pocket expenses incurred in preparation of the valuation. Such out-of-pocket expenses will likely include travel, telephone/facsimile, printing, shipping, computer and data services. RP Financial will agree agrees to limit reimbursable expenses in connection with this appraisal engagement, subject engagement to written authorization up to $7,500 without prior approval from the Bank Association to exceed such level. In the event the Bank Association shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Bank Association agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. XX Xxxxxxxx’x RP Financial’s standard billing rates range from $75 per hour for research associates to $400 per hour for managing directors. If during the course of the proposed transaction, events occur so as to materially change the nature or the work content of the services described in this contract, the terms of said contract shall be subject to renegotiation by the Bank Association and RP Financial. Such unforeseen events shall include, but not be limited to, major changes (actual or proposed by the applicable regulatory authorities) in the conversion regulations, appraisal guidelines or processing procedures as theythey relate to appraisals, major changes in management or procedures, operating policies or philosophies, and excessive delays or suspension of processing of conversion applications by the regulators such that completion of the transaction requires the preparation by RP Financial of a new appraisal.

Fee Structure and Payment Schedule. The Bank agrees to pay compensate RP Financial for preparation of the business plan on a fixed fee basis of $25,000 for preparation and delivery of the original appraisal report, plus reimbursable expenses35,000. Payment of these the professional fees shall be made according to the following schedule: • $5,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; • $20,000 upon delivery of the completed original appraisal report; andbusiness plan. 0000 Xxxxx Xxxxx Xxxxxx, • $5,000 for each valuation update that may be requiredSuite 2210 Direct: (000) 000-0000 Arlington, provided that the transaction is not delayed for reasons described below. VA 22209 Telephone: (000) 000-0000 xxx.xxxxxxxxxxx.xxx Fax No.: (000) 000-0000 E-Mail: xxxxxxxx@xxxxxxxxxxx.xxx Toll-Free No.: (000) 000-0000 The Bank will also agrees to reimburse RP Financial for those direct out-of-pocket expenses incurred in preparation of necessary and incidental to providing the valuationbusiness planning services. Such out-of-pocket Reimbursable expenses will likely include travel, telephoneshipping, copying/facsimile, printing, shipping, computer and data services, and shall be paid to RP Financial as incurred and billed. RP Financial will agree to limit reimbursable expenses to $10,000 in connection conjunction with this engagement, and the concurrent appraisal engagement, subject to written authorization from the Bank to exceed such level. In the event the business plan is required by the Bank to be substantially amended, to reflect changes in the structure of the mutual-to-stock conversion transaction or the nature of the principal lending or deposit strategies, the announcement of an acquisition transaction (branches, another institution or other companies), a delay in the implementation of the overall plan or other similar matters, the Bank will compensate RP Financial $5,000 for each required update plus reimbursable expenses. In the event the Bank shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction this planning engagement prior to delivery of the completed documents set forth above business plan and payment of the respective progress payment feesfee, the Bank agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fixed fee caps noted described above, after giving full credit to the initial retainer feeplus reimbursable expenses incurred. XX Xxxxxxxx’x RP Financial’s standard billing rates range from $75 per hour for research associates to $400 350 per hour for managing directors. If during the course of the proposed transactionplanning engagement, unforeseen events occur so as to materially change the nature or the work content of the business planning services described in this contract, the terms of said contract shall be subject to renegotiation by the Bank and RP Financial. Such unforeseen events shall includemay include changes in regulatory requirements as it specifically relates to the Bank or potential transactions that will dramatically impact the Bank such as a pending acquisition or branch transaction. Please acknowledge your agreement to the foregoing by signing as indicated below and returning to RP Financial a signed copy of this letter. Sincerely, but not be limited to, major changes (actual or proposed Xxxxxx X. Xxxxxxx President and Managing Director Agreed To and Accepted By: Xxxxxx X. Xxxx President & Chief Executive Officer Upon Authorization by the applicable regulatory authorities) in the conversion regulationsBoard of Directors For: Anchor Mutual Savings Bank Aberdeen, appraisal guidelines or processing procedures as theyWashington Date Executed: May 20, 2008

Fee Structure and Payment Schedule. The Bank agrees to pay RP Financial a fixed fee of $25,000 60,000 for preparation and delivery of the original appraisal report, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $5,000 10,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; • $20,000 50,000 upon delivery of the completed original appraisal report; and, and • $5,000 10,000 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. The Bank will reimburse RP Financial for out-of-pocket expenses incurred in preparation of the valuation. Such out-of-pocket expenses will likely include travel, telephone/facsimile, printing, shipping, computer and data services. RP Financial will agree to limit reimbursable expenses in connection with this appraisal engagementengagement to $7,500, subject to written authorization from the Bank to exceed such level. In the event the Bank shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Bank agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. XX Xxxxxxxx’x RP Financial’s standard billing rates range from $75 per hour for research associates to $400 per hour for managing directors. If during the course of the proposed transaction, events occur so as to materially change the nature or the work content of the services described in this contract, the terms of said contract shall be subject to renegotiation by the Bank and RP Financial. Such unforeseen events shall include, but not be limited to, major changes (actual or proposed by the applicable regulatory authorities) in the conversion regulations, appraisal guidelines or processing procedures as theythey relate to appraisals, major changes in management or procedures, operating policies or philosophies, and excessive delays or suspension of processing of conversion applications by the regulators such that completion of the transaction requires the preparation by RP Financial of a new appraisal.

Fee Structure and Payment Schedule. The Bank agrees to pay RP Financial a fixed fee of $25,000 40,000 for preparation and delivery of the original appraisal reportreport and $5,000 for each subsequent update, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $5,000 10,000 upon execution of the this letter of agreement engaging RP Financial’s appraisal services; • $20,000 30,000 upon delivery of the completed original appraisal report; and, • $$ 5,000 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. The Bank will reimburse RP Financial for reasonable out-of-pocket expenses incurred in preparation of the valuationoriginal appraisal and subsequent updates. Such out-of-pocket expenses will likely include travel, printing, telephone/, facsimile, printingshipping, shippingreasonable counsel fees, computer and data services. RP Financial , and will agree to limit reimbursable expenses not exceed $5,000 in connection with this appraisal engagementthe aggregate, subject to written without the Bank’s authorization from the Bank to exceed such this level. In the event the Bank shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction offering prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Bank agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. XX Xxxxxxxx’x RP Financial’s standard billing rates range from $75 per hour for research associates to $400 450 per hour for managing directors. If during the course of the proposed transaction, unforeseen events occur so as to materially change the nature or the work content of the services described in this contract, the terms of said contract shall be subject to renegotiation by the Bank and RP Financial. Such unforeseen events shall include, but not be limited to, major changes (actual or proposed by the applicable regulatory authorities) in the conversion regulations, appraisal guidelines or processing procedures as theythey relate to appraisals, major changes in management or procedures, operating policies or philosophies, and excessive delays or suspension of processing of applications by the regulators such that completion of the transaction requires the preparation by RP Financial of a new appraisal.