EXECUTIVE EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (the “Agreement”) is between Bank Rhode Island, a financial
institution organized under the laws of the State of Rhode Island with its executive offices located at One Turks
Head Place, Providence, Rhode Island 02903 (the “Bank”), Bancorp Rhode Island, Inc., a corporation
organized under the laws of the State of Rhode Island and sole shareholder of the Bank (the “Company”), and
Jeffrey W. Angus of 1 Hines Farm Drive, Cumberland, Rhode Island 02864 (the “Executive”).
IT IS MUTUALLY AGREED by the parties as follows:
1. Employment; Duties
1.1 Responsibilities and Authority . (a) The Bank hereby employs Executive to serve as
Executive Vice President of the Bank in charge of operations and technology, and Executive hereby accepts such
employment. Executive shall have the duties, responsibilities, authorities and powers normally incident to such
office. At all times, however, Executive’s activities and authority with respect to such offices will be subject to
supervision, control and direction by the Board of Directors of the Bank (the “Board”), by the Executive
Committee of the Board, and by the President and Chief Executive Officer of the Bank (the “Chief Executive
Officer”) and Executive agrees to carry out such duties and responsibilities as any of them may from time to time
reasonably assign to Executive. Executive shall report from time to time or routinely, upon request, to the Chief
Executive Officer or the Chief Executive Officer’s designee as to the current status of any of Executive’s assigned
duties and responsibilities.
(b) The Company hereby employs Executive to serve as Vice President of the Company and such
other offices and positions as the Company may determine, and Executive hereby accepts such employment.
Executive shall have the duties, responsibilities, authorities and powers normally incident to such offices. At all
times, however, Executive’s activities and a