0001558370-16-004106 Sample Contracts

GENERAL RELEASE AND SEPARATION AGREEMENT
General Release and Separation Agreement • March 14th, 2016 • Merchants Bancshares Inc • State commercial banks • Vermont

This General Release (“Release”) is between Merchants Bank, a Vermont Chartered bank and Merchant Bancshares, Inc., a Delaware corporation (collectively referred to as “the Corporations”) and Thomas J. Meshako (“Executive”), this 7th day of January, 2016.

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CONFIDENTIAL GENERAL RELEASE AND SEPARATION AGREEMENT
Confidential General Release and Separation Agreement • March 14th, 2016 • Merchants Bancshares Inc • State commercial banks • Vermont

This General Release (“Release”) is between Merchants Bank, a Vermont Chartered bank and Merchant Bancshares, Inc., a Delaware corporation (collectively referred to as “the Corporations”) and Molly Dillon (“the Executive”), this 11th day of December, 2015.

GENERAL RELEASE AND SEPERATION AGREEMENT
General Release and Seperation Agreement • March 14th, 2016 • Merchants Bancshares Inc • State commercial banks

This General Release and Separation Agreement (“Release”) is between Merchants Bank, a Vermont Chartered bank and Merchants Bancshares, Inc., a Delaware corporation (collectively referred to as “the Corporations”) and Michael R. Tuttle (“Tuttle”). Tuttle’s employment with the Corporations has terminated effective December 31, 2015 and this Agreement is intended to effectuate Tuttle’s post-employment rights and obligations under his Employment Agreement dated January 1, 2011, including but not limited to Tuttle’s rights in paragraph no. 4(b) of that Agreement.

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