Eastern Bankshares Inc. – Credit Agreements Watch

from 10-Q 2 pages Amendment Eastern Bank Employee Stock Ownership Plan Preamble Eastern Bank (The “Bank”) Sponsors the Eastern Bank Employee Stock Ownership Plan (The "Plan"). the Bank Has Reserved the Right to Amend the Plan, Subject to Applicable Provisions of the Internal Revenue Code and the Employee Retirement Income Security Act of 1974. the Plan Benefits Employees of the Bank and Its Subsidiary, Eastern Insurance Group, LLC (“Eig”). the Bank May Enter Into a Transaction for the Sale of Eig to an Unrelated Third Party, Which May Be a Sale of Assets or a Sale of the LLC Membership Interests in Eig. Regardless of How Any Such Sale Is Structured, It Wishes to Fully Vest Eig Participants at the Time of the Sale, Provided They Are Employed at That Date and Regardless of Whether They Continue Employment With the Eig Entity or the Buyer After the Ownership Change. Amendment the Following Language Is Added to Section 9.1 “Vesting in Accounts”: Any Participants Employed by Eastern Insurance Group, LLC (“Eig”) at the Date of a Sale of All or Substantially All of Its Assets or a Sale of Eastern Bank’s Membership Interests in Eig to an Unrelated Third Party (All Together, a “Sale”) Will Be Fully Vested in Their Accounts Even if Credited With Less Than Three Vesting Years as of the Date of Such Sale. in Witness Whereof, This Amendment Is Executed on This 5th Day of June, 2023. Eastern Bank By: Kathleen C. Henry, Chief Human Resources Officer

from 10-Q 2 pages Amendment Eastern Bank Benefit Equalization Plan Preamble Eastern Bank (The “Bank”) Sponsors the Eastern Bank Benefit Equalization Plan (The "Plan"). the Plan May Be Amended, and Is Subject to Applicable Provisions of Internal Revenue Code Section 409a (“Section 409a”). the Bank Desires to Include Three Currently Employed Executives (Messrs. Rivers, Q. Miller and Fitzgerald) Who Were Previously Excluded Executives in the Plan (Together, “The Three Executives”) as They Were Covered Under a Senior Level Supplemental Executive Retirement Plan (“Serp”) Which Has Since Been Frozen. Therefore, the Plan Shall Be Amended Effective January 1, 2022 Such That the Three Executives Whose Senior Level Serps Have Been Frozen Are No Longer Excluded Executives. Amendment the Definition of “Excluded Executive” in Section 1 Is Amended by the Addition of the Following: The Executives in the Eastern Bank Supplemental Executive Retirement Plan, a Senior Level Serp Which Was Frozen as of December 31, 2021, Shall No Longer Be Considered as Excluded Executives, Effective for Accruals in This Plan Starting January 1, 2022. This Only Applies to Those Three Executives Who Were in the Serp and Who Are Actively Employed After 2021. the Definition of “Compensation” in Section 1 Is Amended by the Addition of the Following: In the Case of the Three Executives Added to the Plan by This Amendment, Compensation Shall Also Not Include Any Incentive Compensation Paid in 2022 Which Was Credited Under the Eastern Bank Supplemental Executive Retirement Plan. in Witness Whereof, This Amendment, Effective as of January 1, 2022, Is Executed on This 6th Day of April, 2022. Eastern Bank By: Kathleen C. Henry, Chief Human Resources Officer