COVENANTS OF REGAL BANCORP AND REGAL BANK
Notwithstanding Section 6.10.3, prior to the date of the Regal Bancorp Stockholders Meeting, the Regal Bancorp Board may approve or recommend to the stockholders of Regal Bancorp a Superior Proposal and withdraw, qualify or modify in a manner adverse to SR Bancorp, the Regal Bancorp Recommendation in connection therewith (a “Regal Bancorp Subsequent Determination”) after the fifth Business Day following SR Bancorp’s receipt of a notice from Regal Bancorp advising SR Bancorp that the Regal Bancorp Board has decided that a bona fide unsolicited written Acquisition Proposal that it received (that did not result from a breach of this Section 6.10) constitutes a Superior Proposal (the “Notice of Superior Proposal”) (it being understood that Regal Bancorp shall be required to deliver a new Notice of Superior Proposal in respect of any revised Superior Proposal from such third party or its affiliates that Regal Bancorp proposes to accept and the subsequent notice period shall also be two Business Days) if, but only if (i) the Regal Bancorp board of directors has reasonably determined in good faith, after consultation with and having considered the advice of outside legal counsel, that the failure to take such actions would be reasonably likely to violate its fiduciary duties to the Regal Bancorp shareholders under applicable law, and (ii) at the end of such five Business Day period, after taking into account any such adjusted, modified or amended terms as may have been committed to in writing by SR Bancorp since its receipt of such Notice of Superior Proposal (provided, however, that SR Bancorp shall not have any obligation to propose any adjustments, modifications or amendments to the terms and conditions of this Agreement), Regal Bancorp Board has again in good faith made the determination that such Acquisition Proposal constitutes a Superior Proposal.
【参考訳】第 6.10.4 項にかかわらず、第 6.10. 3. 第 6.10.4 項にかかわらず、Regal Bancorp 株主総会の日までに、Regal Bancorp 取締役会は、Regal Bancorp の株主に対して優越的提案を承認または推奨し、SR Bancorp に不利な方法で撤回、修正、修飾することができる、 また、Regal Bancorp 取締役会が、Regal Bancorp が受領した（本第 6.10 項に違反することなく）善意で未承諾の書面による取得提案 が上位提案に該当すると判断したことを通知する通知を SR Bancorp が受領してから 5 営業日目以降に、Regal Bancorp の株主に対して、上位提案の承認または推奨、およびそれに関連する Regal Bancorp の推奨の撤回または適格性の確認、修正（以下「Regal Bancorp の事後判断」という。 (i)リーガル・バンコープの取締役会が、外部の法律顧問と協議し、その助言を考慮した上で、誠実に合理的に判断した場合、 (ii)当該 5 営業日の期間終了時に、SR Bancorp が当該上位提案通知を受領して以降に書面で確約した調整、修正、または変更された条件を考慮した場合（ただし、SR Bancorp は、当該 5 営業日の期間終了時に、SR Bancorp が当該上位提案通知を受領して以降に書面で確約した調整、修正、または変更された条件を考慮した場合）、 但し、SR Bancorp は本契約の条件の調整、修正または変更を提案する義務を負わないものとする。）、Regal Bancorp 取締役会は、かかる取得提案が優位な提案であると再度誠実に判断した。
