AMENDMENT TO STANDSTILL AGREEMENTStandstill Agreement • May 22nd, 2024 • Provident Bancorp, Inc. /MD/ • Savings institutions, not federally chartered • Maryland
THIS AMENDMENT, dated this 21st day of May, 2024 (the “Amendment”), to the Standstill Agreement, dated October 28, 2023 (the “Agreement”), is by and among Provident Bancorp, Inc. (the “Company”), Stilwell Activist Fund, L.P. (“Activist Fund”), Stilwell Activist Investments, L.P. (“Activist Investments”), Stilwell Partners, L.P. (“Stilwell Partners”), Stilwell Value LLC (“Stilwell Value”), and Joseph Stilwell, an individual (collectively, with Activist Fund, Activist Investments, Stilwell Partners, and Stilwell Value, the “Stilwell Group,” and each individually, a “Stilwell Group Member”) and Dennis Pollack, an individual (the “Nominee”).
