Common use of The Second Step Merger Clause in Contracts

The Second Step Merger. Immediately following the First Effective Time, in accordance with the MGCL, SR Bancorp shall cause the Surviving Corporation to be merged with and into SR Bancorp (the “Second Step Merger”), with SR Bancorp surviving the Second Step Merger (the “Second Step Merger Surviving Corporation”) and continuing its corporate existence under its Articles of Incorporation, Bylaws and the laws of the State of Maryland and its name and separate corporate existence, with all of its rights, privileges, immunities, powers and franchises, shall continue unaffected by the Second Step Merger, and the separate corporate existence of the Surviving Corporation shall cease as of the Effective Time. In furtherance of the foregoing, SR Bancorp shall cause to be filed with the Maryland Department of Assessments and Taxation articles of merger relating to the Second Step Merger. The Second Step Merger shall become effective as of the date and time specified in such articles of merger (such date and time, the “Effective Time”). At and after the Effective Time, the Second Step Merger shall have the effects set forth in the applicable provisions of the MGCL. 8. Amendment to Article III. Article III is hereby replaced in its entirety with the following:

The Second Step Merger. Immediately following the First Effective Time, in accordance with the MBCA and the MGCL, SR Bancorp Parent shall cause the Surviving Corporation to be merged with and into SR Bancorp Parent (the “Second Step Merger”), with SR Bancorp Parent surviving the Second Step Merger (the “Second Step Merger Surviving Corporation”) and continuing its corporate existence under its Articles of IncorporationOrganization, Bylaws and the laws of the State Commonwealth of Maryland Massachusetts and its name and separate corporate existence, with all of its rights, privileges, immunities, powers and franchises, shall continue unaffected by the Merger or the Second Step Merger, and the separate corporate existence of the Surviving Corporation shall cease ceasing as of the Second Effective Time. In furtherance of the foregoing, SR Bancorp Parent shall cause to be filed with the Maryland Department Secretary of Assessments State of the Commonwealth of Massachusetts, in accordance with the MBCA, articles of merger (the “Massachusetts Articles of Merger”) relating to the Second Step Merger and Taxation shall cause to be filed with the SDAT, in accordance with the MGCL, articles of merger relating to the Second Step Merger. The Second Step Merger shall become effective as of the date and time specified in such articles the Massachusetts Articles of merger Merger (such date and time, the “Second Effective Time”). At and after the Second Effective Time, the Second Step Merger shall have the effects set forth in the applicable provisions of the MBCA and MGCL. 8. Amendment to Article III. Article III is hereby replaced in its entirety with the following: