LNB Bancorp, Inc.
Exhibit to Form 10-Q
(For the six months ended June 30, 1996)
S - K Reference Number (10c)
Supplemental Retirement Agreement by and between Gregory D. Friedman and The Lorain National Bank dated
July 30, 1996.
SUPPLEMENTAL RETIREMENT AGREEMENT
FOR GREGORY D. FRIEDMAN
THIS AGREEMENT, made and entered into this 30th day of July, 1996, by and between LORAIN
NATIONAL BANK (hereinafter referred to as the "Bank"), a national banking association organized and
existing under the laws of the United States, whose principal place of business is Lorain, Ohio, and GREGORY
D. FRIEDMAN (hereinafter referred to as the "Executive").
WHEREAS, the Executive has rendered valuable services to the Bank for many years and it is the desire of the
Bank to provide him with certain Supplemental Retirement Benefits in addition to the retirement benefits provided
to him under the Lorain National Bank Retirement Pension Plan; and
WHEREAS, the Executive has performed his duties in a capable and efficient manner, resulting in substantial
growth and progress to the Bank; and
WHEREAS, the Bank desires to retain the services of the Executive, and realizes that if the Executive were to
leave the Bank it could suffer a substantial financial loss; and
WHEREAS, the Executive is willing to continue in the employ of the Bank if the Bank will agree to pay certain
benefits in accordance with the provisions and conditions hereinafter set forth; and
WHEREAS, it is understood and agreed that this Agreement is to be effective as of June 4, 1996; and
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:
1. Employment of the Executive
The Executive shall continue to perform duties for the Bank in such senior executive capacity as its Board of
Directors may designate from time to time. The Executive shall devote his best efforts to the performance of his
duties for the Bank.
The Executive shall be compensated for th