Common use of Fee Structure and Payment Schedule Clause in Contracts

Fee Structure and Payment Schedule. The Association agrees to pay RP Financial a fixed fee of $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: • $10,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; • $35,000 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 materially delayed for reasons described below. The 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 agrees to limit reimbursable expenses in connection with this appraisal engagement to up to $7,500 without prior approval from the Association to exceed such level. In the event the 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 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. 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 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 Xx. Xxxx X. Martin January 19, 2011 procedures as they 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 Association Bank agrees to pay compensate RP Financial for preparation of the business plan on a fixed fee basis of $50,000 40,000, and $5,000 for preparation and delivery each business plan update that may be required, if any, following the regulatory filing of the original appraisal report, plus reimbursable expensesbusiness plan. Payment of these the professional fees shall be made according to the following scheduleRP Financial as follows: • $10,000 5,000 upon execution engagement of the letter of agreement engaging RP Financial’s appraisal services; • services and $35,000 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 materially delayed for reasons described belowbusiness plan. The Association will Bank also agrees to reimburse RP Financial for out-of-pocket expenses incurred in preparation of the valuationbusiness plan. Such out-of-pocket Reimbursable expenses will likely include travel, printing, telephone/, facsimile, printing, shipping, computer and data services, and shall be paid to RP Financial as incurred and billed. RP Financial agrees will agree to limit reimbursable expenses in connection with this appraisal engagement to up to $7,500 without prior approval in conjunction with this business planning engagement, inclusive of up to two on-site visits to the Bank, subject to written authorization from the Association Bank to exceed such level. In the event the Association Bank shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction this business planning engagement prior to the delivery of the completed documents set forth above original business planning document, or subsequent required updates, and payment of the respective related progress payment fees, the Association 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 $40,000 for the initial retainer feepreparation of the business plan or $5,000 for the preparation of each required update. 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 transactionplanning engagement, unforeseen events occur so as to materially change the nature or the work content of the business planning services described in this contractengagement letter, the terms of said contract engagement letter shall be subject to renegotiation by the Association 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 business plan guidelines or processing Xx. Xxxx X. Martin January 19, 2011 procedures as they relate to appraisalsbusiness plans, or subsequent transaction announcements that will dramatically impact the Bank, such as a pending acquisition, branch transaction or material balance sheet restructuring, major changes in management or procedures, operating policies or philosophies, and regulatory enforcement proceedings against the Bank, and/or excessive delays or suspension of processing of conversion applications by the regulators such that completion of the transaction Stock Offering requires the preparation by RP Financial of a new appraisal.or substantially updated business plan or financial projections. * * * * * * * * * * * Xx. Xxxxxx Xxxxxx September 8, 2008 Please acknowledge your agreement to the foregoing by signing as indicated below and returning to RP Financial a signed copy of this letter, together with the initial retainer fee of $5,000. Sincerely, /s/ Xxxxxxx X. Xxxxxxxxxxx Xxxxxxx X. Xxxxxxxxxxx Chief Executive Officer and Managing Director Agreed To and Accepted By: Xxxxxx Xxxxxx /s/ Xxxxxx Xxxxxx Vice Chairman and Co-Chief Operating Officer Upon Authorization by the Board of Directors For: Territorial Mutual Holding Company Territorial Savings Group, Inc. Territorial Savings Bank Honolulu, Hawaii

Fee Structure and Payment Schedule. The Association Bank agrees to pay RP Financial a fixed fee of $50,000 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: • $10,000 upon execution of the this letter of agreement engaging RP Financial’s appraisal services; • $35,000 30,000 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 Association 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 agrees to limit reimbursable expenses , and will not exceed $5,000 in connection with this appraisal engagement to up to $7,500 the aggregate, without prior approval from the Association Bank’s authorization to exceed such this level. In the event the Association 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 Association 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. 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 Association 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 Xx. Xxxx X. Martin January 19, 2011 procedures as they 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.. Melrose Co-operative Bank November 7, 2013

Fee Structure and Payment Schedule. The Association Company agrees to pay RP Financial a fixed fee of $50,000 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: • $10,000 upon execution of the this letter of agreement engaging RP Financial’s appraisal services; • $35,000 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 materially delayed for reasons described below. The Association 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 agrees to limit reimbursable expenses , and will not exceed $8,000 in connection with this appraisal engagement to up to $7,500 the aggregate, without prior approval from the Association Company’s authorization to exceed such this level. In the event the Association 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 Association 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. RP Financial’s standard billing rates range from $75 per hour for research associates to $400 450 per hour for managing directors. Macon Bancorp / Macon Bank, Inc. January 3, 2014 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 Association 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 Xx. Xxxx X. Martin January 19, 2011 procedures as they 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.