LAKE SHORE BANCORP, INC. (a Federal Corporation in Formation) Up to 2,587,500 Shares (Subject to Increase Up to 2,975,625 Shares) COMMON STOCK ($0.01 Par Value) Subscription Price $10.00 Per Share FORM OF AGENCY AGREEMENTAgency Agreement • January 13th, 2006 • Lake Shore Bancorp, Inc. • Savings institution, federally chartered • New York
Lake Shore Bancorp, Inc., a federal corporation in formation (the “Holding Company”), Lake Shore, MHC, a federal mutual holding company in formation (the “MHC”) and Lake Shore Savings and Loan Association, a New York chartered mutual savings and loan association (the “Bank”) (references to the “Bank” include the Bank as a New York chartered savings and loan association and as a federally chartered savings bank and in the mutual or stock form, as indicated by the context) (collectively, the “Primary Parties”) hereby confirm, jointly and severally, their agreement with Ryan Beck & Co., Inc. (the “Agent”), as follows:
