Exhibit 10(w)
AGREEMENT TO JOIN IN THE FILING OF
CONSOLIDATED FEDERAL INCOME TAX RETURNS
This agreement (the “Agreement”) is made and entered into this 27 day of February, 2001, between LNB
Bancorp, Inc. (the “Holding Company”), and The Lorain National Bank and Charleston Insurance Agency, Inc.
(the “Subsidiaries”).
WITNESSETH:
WHEREAS, the Holding Company is the owner of 80% or more of the outstanding shares of stock of these
Subsidiaries and may, therefore, include the income and expense of the Subsidiaries in the Holding Company’s
consolidated Federal income tax returns; and
WHEREAS, the parties desire to set forth their agreement as to the filing of such returns and the payment of
the related consolidated Federal income tax liability;
NOW, THEREFORE, in consideration of the initial agreements herein set forth, the parties hereto do hereby
agree as follows:
1. Filing and Preparation of Future Returns . The Subsidiaries agree to consent to joining with the Holding
Company and its consolidated subsidiaries in the filing of consolidated Federal income tax returns for the taxable
year ending December 31, 2001 and each taxable year thereafter in accordance with applicable income tax laws
and regulations. The Holding Company agrees that it will prepare and file in a timely manner all Federal and other
income tax returns required to be filed on behalf of the Holding Company and its consolidated subsidiaries,
including the Subsidiaries, and will pay the taxes shown to be due thereon.
2. Estimated Payments . For the taxable year ending December 31, 2001 and each taxable year thereafter,
the parties shall cause to be prepared, on the Subsidiaries’ tax basis of accounting, a computation of the minimum
estimated quarterly income tax payments which would be required to be paid by the Subsidiaries if it were to
report its income and expenses to the Internal Revenue Service as a separate entity and avoid the imposition of
an addition to its tax for und