EXHIBIT 10.16
TERMINATION OF CONSULTING AGREEMENT
THIS TERMINATION AGREEMENT, entered into this 30th day of July, 2002 by and
between Central Co-operative Bank, Somerville, Massachusetts (the "Bank") and
Xxxxxx X. Xxxxxxx (the "Consultant").
WHEREAS, the Bank and the Consultant have previously entered into a
Consulting Agreement, dated as of March 31, 1992 and amended as of August 11,
1994 (the "Consulting Agreement"); and
WHEREAS, the parties are mutually desirous of terminating the Consulting
Agreement.
NOW, THEREFORE, it is AGREED that the Consulting Agreement be and is hereby
terminated effective as of the date hereof and each of the parties hereby
releases the other from any and all claims and obligations thereunder.
IN WITNESS WHEREOF, the parties have executed this Termination Agreement on
the day and year first hereinabove written.
ATTEST: CENTRAL CO-OPERATIVE BANK
/s/ Xxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Clerk Chairman of the Finance Committee
WITNESS: CONSULTANT
/s/ Xxxxx X. Xxxxxx By: /s/ J. R. Xxxxxxx
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Xxxxxx X. Xxxxxxx
