EMPLOYMENT AGREEMENT by and between SALISBURY BANK AND TRUST COMPANY and JOHN DAVIESEmployment Agreement • March 30th, 2016 • Salisbury Bancorp Inc • Savings institution, federally chartered • Connecticut
This Employment Agreement (this “Agreement”), which is contingent upon consummation of the Merger, as defined herein, and which shall be effective upon the Effective Time of the Merger (the “Effective Date”), is made and entered into on March 18, 2014, by and between Salisbury Bank and Trust Company, a Connecticut-chartered commercial bank with its principal administrative office at 5 Bissell Street, Lakeville, CT 06039-1868 (together with its successors and assigns, the “Bank”) and John Davies (“Executive”). Any reference to the “Company” hereunder shall mean Salisbury Bancorp, Inc. (together with its successors and assigns), the parent of the Bank that owns 100% of the Bank.
Form of Split Dollar Agreement for ExecutivesSplit Dollar Agreement • March 30th, 2016 • Salisbury Bancorp Inc • Savings institution, federally chartered
I, _____________________________, an Employee designated as set forth in Article 2 of the Salisbury Bank and Trust Company Split Dollar Insurance Plan (the “Plan”), hereby elect to become a Participant of this Plan according to Article 2 of the Plan.
