December 12, 2011Georgetown Bancorp, Inc. • March 9th, 2012 • Massachusetts
This letter sets forth the agreement between Georgetown Bank, Georgetown, Massachusetts (the “Bank”), the wholly-owned subsidiary of Georgetown Bancorp, Inc. (the “Company”), which in turn is the majority-owned subsidiary of Georgetown Bancorp, MHC (the “MHC”), and RP® Financial, LC. (“RP Financial”), whereby RP Financial will provide the independent conversion appraisal services in conjunction with the second step conversion transaction by the Company. The scope, timing and fee structure for these appraisal services are described below.
