Up to [12,650,000 Shares] William Penn Bancorporation (a Maryland corporation) Common Stock (par value $0.01 per share) AGENCY AGREEMENTAgency Agreement • December 9th, 2020 • William Penn Bancorporation • Savings institutions, not federally chartered • New York
The undersigned also agrees and consents to the entry of stop transfer instructions with the Company’s and the Mid-Tier Company’s transfer agent and registrar against the transfer of the undersigned’s Stock or Mid-Tier Stock, to the extent applicable, except in compliance with this Lock-Up Agreement. In furtherance of the foregoing, the Company and its transfer agent are hereby authorized to decline to make any transfer of securities if such transfer would constitute a violation or breach of this Lock-Up Agreement.
PROPOSED LOAN AGREEMENTLoan Agreement • December 9th, 2020 • William Penn Bancorporation • Savings institutions, not federally chartered • Pennsylvania
THIS LOAN AGREEMENT (“Loan Agreement”) is made and entered into as of the ____ day of ________, 202__ by and between the WILLIAM PENN BANK EMPLOYEE STOCK OWNERSHIP PLAN TRUST (“Borrower”), a trust for the William Penn Bank Employee Stock Ownership Plan, as amended and restated (“ESOP”); and WILLIAM PENN BANCORPORATION (the “Lender”), a corporation organized and existing under the laws of the State of Maryland.
