FORM OF TIME-BASED INCENTIVE STOCK OPTION AWARD AGREEMENT ECB BANCORP, INC. (EMPLOYEES)Based Incentive Stock Option Award Agreement • September 8th, 2023 • ECB Bancorp, Inc. /MD/ • Savings institutions, not federally chartered • Massachusetts
This Incentive Stock Option (“ISO”) award agreement (“ISO Award” or “Agreement”) is and will be subject in every respect to the provisions of the ECB Bancorp, Inc. 2023 Equity Incentive Plan (the “Plan”) which are incorporated herein by reference and made a part hereof, subject to the provisions of this Agreement. The holder of this ISO Award (the “Participant”) hereby accepts this ISO Award, subject to all the terms and provisions of the Plan and this Agreement, and agrees that all decisions under and interpretations of the Plan and this Agreement by the Joint Compensation Committee of the Board of Directors of Everett Co-operative Bank (the “Bank”) and ECB Bancorp, Inc. (the “Committee”) or the Board of Directors of ECB Bancorp, Inc. (the “Company”) will be final, binding and conclusive upon the Participant and the Participant’s heirs, legal representatives, successors and permitted assigns. A copy of the Plan and related prospectus will be provided to each person granted an ISO Awar
