Pursuant to the Merger Agreement, at the Effective Time, each of the members of the Board of Directors of Meridian Bancorp, Inc. as of immediately prior to the Effective Time resigned from their positions as members of the Board of Directors and from any and all committees of the Board of Directors on which they served, and were replaced by the directors of Bradford Merger Sub Inc., Robert D. Cozzone, Patricia M. Natale and Mark J. Ruggiero.