STANDSTILL AGREEMENTStandstill Agreement • October 31st, 2023 • Provident Bancorp, Inc. /MD/ • Savings institutions, not federally chartered • Maryland
THIS STANDSTILL AGREEMENT (the “Agreement”), dated this 28th day of October 2023, is by and among Provident Bancorp, Inc. (the “Company”), Stilwell Activist Fund, L.P. (“Activist Fund”), Stilwell Activist Investments, L.P. (“Activist Investments”), Stilwell Partners, L.P. (“Stilwell Partners”), Stilwell Value LLC (“Stilwell Value”), and Joseph Stilwell, an individual (collectively, with Activist Fund, Activist Investments, Stilwell Partners, and Stilwell Value, the “Stilwell Group,” and each individually, a “Stilwell Group Member”) and Dennis Pollack, as the Nominee, as defined below.
