Assignment of Membership Interest Agreement between Chesapeake Custom Homes, L.L.C. and Old Line Bancshares, Inc.

Summary

Chesapeake Custom Homes, L.L.C. has agreed to sell and transfer a 12.5% membership interest in Pointer Ridge Office Investment, LLC to Old Line Bancshares, Inc. for $205,000. This agreement formally assigns all rights, title, and interest in that membership share from Chesapeake Custom Homes to Old Line Bancshares. The transaction is effective as of November 1, 2008, and is governed by the terms set forth in the company's operating agreement.

EX-10.44 4 ex10-44.htm EXHIBIT 10.44 ex10-44.htm

Exhibit 10.44

ASSIGNMENT OF MEMBERSHIP INTEREST AND PERCENTAGE

For and in consideration of the payment of Two Hundred Five Thousand ($205,000.00) Dollars and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the undersigned CHESAPEAKE CUSTOM HOMES, L.L.C., a Maryland limited liability company ("Assignor") does hereby sell, assign, transfer and convey to OLD LINE BANCSHARES, INC., a Maryland corporation ("Assignee"), its successors and assigns, all of Assignor's right, title and interest to a twelve and one-half percent (12.5%) Membership Interest (as defined in the Company's Operating Agreement, as amended) and Percentage of Membership Interest (as defined in the Company's Operating Agreement, as amended) in Pointer Ridge Office Investment, LLC, a Maryland limited liability company (the "Company").

In Witness Whereof, the undersigned has hereunto set his hand

and seal this 1st day of November, 2008.

WITNESS:

		CHESAPEAKE CUSTOM HOMES
		L.L.C., a Maryland limited liability
		company

Katie Stewart		By: Greg S. Wilby (SEAL)
		Greg S. Wilby, General Manager