Exhibit 10.9
FORM OF
AMENDMENT TO THE
BALTIMORE COUNTY SAVINGS BANK,
F.S.B.
CHANGE IN CONTROL SEVERANCE
AGREEMENT
WHEREAS,
( the
“Executive”) entered into a change in control severance
agreement with Baltimore County Savings Bank, F.S.B.(the
“Bank”) effective October 23, 2002 (the
“Agreement”); and
WHEREAS, the Bank and the Executive wish to amend the
Agreement to:
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comply with Section 409A of
the Internal Revenue Code of 1986, as amended and the regulatory
guidance promulgated thereunder; and
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allow BCSB Bancorp, Inc. (the
stock holding company formed in connection with the Bank’s
second step conversion) to become a party to the Agreement as
guarantor; and
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WHEREAS, BCSB Bancorp, Inc. has agreed to serve as
guarantor under the Agreements; and
WHEREAS, the Agreement provides that it may be amended or
modified at any time prior to a change in control by means of a
written instrument signed by the parties.
NOW, THEREFORE,
the Bank, BCSB Bancorp, Inc. and the
Executive hereby agree to amend the Agreement as
follows:
FIRST CHANGE
Effective as of the date hereof,
Section 4 of the Agreement shall be deleted in its entirety
and replaced with the following new Section 4:
“ Timing of Severance
Payment. Any cash payable to the Executive under
Section 3(a) of this Agreement shall be payable in a lump sum
within 10 calendar days after the Executive’s termination of
employment, provided, however, if, at the time of the
Executive’s termination of employ
