Exhibit 10.4
FIRST AMENDMENT TO THE
OLD LINE BANK
SALARY CONTINUATION PLAN AGREEMENT (2012-B Plan)
WHEREAS, Old Line Bank, (the “Bank”) and James Cornelsen, (the “Executive”) previously entered into the Old Line Bank Salary Continuation Plan Agreement (2012-B Plan), originally effective as of October 1st, 2012 (the “Agreement”); and
WHEREAS, the Agreement is designed to provide retirement benefits to the Executive upon certain enumerated events, payable out of the Bank’s general assets; and
WHEREAS, the Bank and the Executive have agreed to amend the Agreement to provide additional benefits per this Amendment.
NOW, THEREFORE, effective May 7, 2018 (the “Effective Date”), the Bank and the Executive hereby amend the Agreement as follows:
IN WITNESS WHEREOF, both parties hereto acknowledge that each has carefully read and considered this Amendment and consent to the changes contained herein. Both parties have caused this Amendment to the Agreement, as identified above, to be executed this 7th day of May, 2018.
| EXECUTIVE | OLD LINE BANK | |
| ______________________________ | By: | /s/James W. Cornelsen |
| Title: | President and Chief Executive Officer | |