Common use of FIRST CHANGE Clause in Contracts

FIRST CHANGE. Effective as of the closing of the Company’s initial public offering, the first paragraph of the Agreement shall be amended to add the following sentence to the end of the paragraph: “Newport Bancorp, Inc., the holding company of the Bank (the “Holding Company”) will serve as guarantor under this Agreement.” SECOND CHANGE Effective as of the closing of the Company’s initial public offering, Section 12(a) shall be deleted in its entirety and replaced with the following new Section 12(a): “For purposes of this Agreement, a “Change in Control” means the occurrence of any one of the following events:

FIRST CHANGE. Effective as of the closing of the Company’s initial public offering, the first paragraph of the Agreement shall be amended to add the following sentence to the end of the paragraph: “Newport Bancorp, Inc., the holding company of the Bank (the “Holding Company”) will serve as guarantor under this Agreement.” SECOND CHANGE Effective as of the closing of the Company’s initial public offering, Section 12(a2(c) shall be deleted in its entirety and replaced with the following new Section 12(a2(c): “For purposes of this Agreement, a “Change in Control” means the occurrence of any one of the following events: