ContractCodorus Valley Bancorp Inc • December 12th, 2014 • Savings institution, federally chartered
We are writing to confirm that, pursuant to Section 9.1 of that certain Agreement and Plan of Merger by and among Madison Bancorp, Inc. (“Madison”), CVLY Corp. (“CVLY”) and Codorus Valley Bancorp, Inc. (“Codorus”), dated July 22, 2014 (the “Agreement”), Madison, CVLY and Codorus agree that the Closing Date, as defined in the Agreement, will be January 16, 2015. CVLY and Codorus further agree and acknowledge that all conditions precedent set forth in Sections 7.1 and 7.2 of the Agreement have been satisfied as of the date hereof, except that the covenant set forth in Section 2.1(f) has not been satisfied, and Madison further agrees and acknowledges that all conditions precedent set forth in Sections 7.1 and 7.3 of the Agreement have been satisfied as of the date hereof, except that the covenant set forth in Section 6.11 has not been satisfied. Each of Madison, on the one hand, and CVLY and Codorus, on the other hand, agrees that, upon the performance of the covenant to be performed by t
