0001362310-08-008156 Sample Contracts

The Cortland Savings and Banking Company Third Amended Salary Continuation Agreement
Salary Continuation Agreement • December 12th, 2008 • Cortland Bancorp Inc • Savings institution, federally chartered • Ohio

This Third Amended Salary Continuation Agreement (this “Agreement”) is entered into as of this third day of December, 2008, by and between The Cortland Savings and Banking Company (the “Bank”), an Ohio-chartered, FDIC-insured member bank, and Stephen A. Telego Sr., Senior Vice President and Director of Human Resources and Corporate Administration of the Bank (the “Executive”).

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Addendum A The Cortland Savings and Banking Company Third Amended Split Dollar Agreement and Endorsement
Split Dollar Agreement • December 12th, 2008 • Cortland Bancorp Inc • Savings institution, federally chartered • Ohio

This Third Amended Split Dollar Agreement and Endorsement (this “Agreement”) is entered into as of this third day of December, 2008 by and between The Cortland Savings and Banking Company, an Ohio-chartered commercial bank (the “Bank”), and Stephen A. Telego Sr., Senior Vice President and Director of Human Resources and Corporate Administration of the Bank (the “Executive”). This Agreement shall append the Split Dollar Policy Endorsement entered into on even date herewith or as subsequently amended, by and between the aforementioned parties.

Addendum A The Cortland Savings and Banking Company Third Amended Split Dollar Agreement and Endorsement
Split Dollar Agreement • December 12th, 2008 • Cortland Bancorp Inc • Savings institution, federally chartered • Ohio

This Third Amended Split Dollar Agreement and Endorsement (this “Agreement”) is entered into as of this third day of December, 2008 by and between The Cortland Savings and Banking Company, an Ohio-chartered commercial bank (the “Bank”), and Timothy Carney, Senior Vice President and Chief Operations Officer of the Bank (the “Executive”). This Agreement shall append the Split Dollar Policy Endorsement entered into on even date herewith or as subsequently amended, by and between the aforementioned parties.

Severance Agreement
Severance Agreement • December 12th, 2008 • Cortland Bancorp Inc • Savings institution, federally chartered • Ohio

This Severance Agreement (this “Agreement”) is entered into effective as of this day of December 3, 2008, by and between Cortland Bancorp, an Ohio corporation, and Timothy Carney (the “Executive”), Senior Vice President and Chief Operating Officer of The Cortland Savings and Banking Company (the “Bank”), an Ohio-chartered bank and wholly owned subsidiary of Cortland Bancorp.

Addendum A The Cortland Savings and Banking Company Amended Split Dollar Agreement and Endorsement
Split Dollar Agreement and Endorsement • December 12th, 2008 • Cortland Bancorp Inc • Savings institution, federally chartered • Ohio

This Amended Split Dollar Agreement and Endorsement (this “Agreement”) is entered into as of this third day of December, 2008 by and between The Cortland Savings and Banking Company, an Ohio-chartered commercial bank (the “Bank”), and Craig M. Phythyon, Senior Vice President, Chief Investment Officer, and Treasurer of the Bank (the “Executive”). This Agreement shall append the Split Dollar Policy Endorsement entered into on even date herewith or as subsequently amended, by and between the aforementioned parties.

Severance Agreement
Severance Agreement • December 12th, 2008 • Cortland Bancorp Inc • Savings institution, federally chartered • Ohio

This Severance Agreement (this “Agreement”) is entered into effective as of this day of December 3, 2008, by and between Cortland Bancorp, an Ohio corporation, and Marlene J. Lenio (the “Executive”), Vice President of The Cortland Savings and Banking Company (the “Bank”), an Ohio-chartered bank and wholly owned subsidiary of Cortland Bancorp, an Ohio corporation.

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