EMPLOYMENT AGREEMENT JOHN S. FITZGERALDEmployment Agreement • March 15th, 2021 • Magyar Bancorp, Inc. • Savings institution, federally chartered • Delaware
This Agreement is made effective as of the 12th day of March, 2021 (the “Effective Date”) by and between Magyar Bancorp, Inc., a Delaware corporation (the “Company”), with its principal administrative office at 400 Somerset Street, New Brunswick, New Jersey 08901, and John S. Fitzgerald (“Executive”).
Mr. John S. Fitzgerald President and Chief Executive Officer Magyar Bancorp, Inc. / Magyar Bank New Brunswick, New Jersey 08901 Dear Mr. Fitzgerald:Magyar Bancorp, Inc. • March 15th, 2021 • Savings institution, federally chartered • Virginia
This letter sets forth the agreement between Magyar Bank, New Brunswick, New Jersey (the “Bank”), wholly-owned by Magyar Bancorp, Inc. (the “Company”), which in turn is the mid-tier holding company majority owned by Magyar Bancorp, MHC (the “MHC”), collectively, “Magyar” or the “Company,” and RP® Financial, LC. (“RP Financial”), whereby RP Financial will provide the independent conversion appraisal services in conjunction with Magyar’s second step conversion offering.
MAGYAR BANK MAGYAR BANCORP, INC. CHANGE IN CONTROL AGREEMENTChange in Control Agreement • March 15th, 2021 • Magyar Bancorp, Inc. • Savings institution, federally chartered • Jersey
This change in control agreement (the “Agreement”) is made and entered into as of December 19, 2019 (the “Effective Date”) by and between Magyar Bancorp, Inc. (the “Company”), a New Jersey corporation, Magyar Bank (the “Bank”), a New Jersey chartered savings bank and a wholly owned subsidiary of the Company, and Peter M. Brown (the “Officer”).
Re: Services of Conversion Agent and Data Processing Records Management AgentLetter Agreement • March 15th, 2021 • Magyar Bancorp, Inc. • Savings institution, federally chartered • New York
This letter agreement (this “Agreement”) confirms the engagement of Keefe, Bruyette & Woods, Inc. (“KBW”) by Magyar Bancorp, MHC, Magyar Bancorp, Inc. and Magyar Bank (collectively with any of its successors or any new stock holding company formed to effect the second step offering, the “Company”), on behalf of both itself and the Company, to act as the conversion agent and the data processing records management agent (KBW in such capacities, the “Agent”) to the Company in connection with the Company’s proposed reorganization from the mutual holding company form to the full stock form of organization, including the offer and sale of the common stock (the “Conversion”) pursuant to the Company’s proposed Plan of Conversion and Reorganization (the “Plan of Conversion”). The sale will be to eligible persons in a subscription offering (the “Subscription Offering”), with any remaining unsold shares of Common Stock to then be offered to the general public in a community offering (the “Communi
