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FIFTH AMENDMENT TO
EXECUTIVE EMPLOYMENT
AGREEMENT
THIS FIFTH
AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT (this “Fifth
Amendment”) is made effective as of the 1st day of January,
2009, by and between OLD LINE BANK, a Maryland-chartered commercial
bank (the “Bank” or “Employer”) and JAMES
W. CORNELSEN (the “Employee”). This Fifth
Amendment amends in certain respects that certain Executive
Employment Agreement dated March 31, 2003, between the Bank and
Employee, as amended by that certain First Amendment to Executive
Employment Agreement dated as of December 31, 2004, Second
Amendment to Employment Agreement dated as of December 30, 2005,
Third Amendment to Employment Agreement dated as of January 1,
2007, and the Fourth Amendment to Employment Agreement dated as of
January 1, 2008 (collectively, the “Original
Agreement”).
1.
Capitalized Terms . Capitalized terms used herein
and not otherwise defined herein shall have the meanings assigned
to them in the Original Agreement.
2.
Amendments . The Original Agreement is hereby
amended as follows:
a.
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