1 [LAWRENCE SAVINGS BANK LETTERHEAD] May 25, 2000 Mr. Robert P. Perreault 30 Riverview Avenue Methuen, MA 01844 Dear Bob: Your special termination agreement dated May 9, 1986 is hereby amended as follows: Section 2 Change in Control, line 15 - "twenty-five percent (25%)" is hereby stricken and fifteen percent (15%) is inserted in its place. Execution Upon execution below by all parties, this Agreement will enter in full force and effect on the effective date below: LAWRENCE SAVINGS BANK /s/ THOMAS J. BURKE /s/ ROBERT P. PERREAULT - --------------------------------- ----------------------------------- Thomas J. Burke, Chairman Robert P. Perreault /s/ EUGENE A. BELIVEAU 5-25-00 - --------------------------------- ----------------------------------- Eugene A. Beliveau Effective Date /s/ KATHLEEN I. BOSHAR - --------------------------------- Kathleen I. Boshar /s/ MALCOLM W. BRAWN - --------------------------------- Malcolm W. Brawn /s/ BYRON R. CLEVELAND, JR. - --------------------------------- Byron R. Cleveland, Jr. /s/ NEIL H. CULLEN - --------------------------------- Neil H. Cullen /s/ RICHARD HART HARRINGTON - --------------------------------- Richard Hart Harrington /s/ ROBERT F. HATEM - --------------------------------- Robert F. Hatem /s/ MARSHA A. MCDONOUGH - --------------------------------- Marsha A. McDonough /s/ PAUL A. MILLER - --------------------------------- Paul A. Miller