**NORTHEAST      COMMUNITY BANK**

**EMPLOYMENT      AGREEMENT**

**THIS      AGREEMENT**
**NORTHEAST COMMUNITY BANK**
**MICHAEL GALLINA**
**NORTHEAST COMMUNITY BANCORP,      INC.**

**WHEREAS,      **

**WHEREAS,      **

**WHEREAS,      **

**NOW,      THEREFORE, **

**1.**
**Employment**
**.  **

**2.**
**Location      and Facilities**
**.**

**3.           Term.**

|   | a. | The                term of this Agreement shall include: (i) the initial term, consisting                of                the period commencing on March 26, 2007 (the “Effective Date”) and ending                on the third anniversary of the Effective Date, plus (ii) any and                all                extensions of the initial term made pursuant to this Section                3. |
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|   | b. | Commencing                on the first anniversary of the Effective Date and continuing on                each                anniversary of the Effective Date thereafter, the disinterested members                of                the Board may extend the Agreement term for an additional year, so                that                the remaining term of the Agreement again becomes thirty-six (36)                months,                unless Executive elects not to extend the term of this Agreement                by giving                written notice in accordance with Section 19 of this                Agreement.  The Board will review the Agreement and Executive’s                performance annually for purposes of determining whether to extend                the                Agreement term and will include the rationale and results of its                review in                the minutes of the meeting.  The Board will notify Executive as                soon as possible after its annual review whether the Board has determined                to extend the Agreement. |
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**4.           Base      Compensation.**

|   | a. | The                Bank agrees to pay Executive during the term of this Agreement a                base                salary at the rate of $135,000 per year, payable in accordance with                customary payroll practices. |
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|   | b. | Each                year, the Board will review the level of Executive’s base salary, based                upon factors they deem relevant, in order to determine whether to                maintain                or increase his base salary. |
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**5.**
**Bonuses**
**.**

**6.**
**Benefit      Plans**
**.**

**7.           Vacations      and Leave.**

|   | a. | Executive                may take vacations and other leave in accordance with the Bank’s policy                for senior executives. |
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|   | b. | In                addition to paid vacations and other leave, the President and Chief                Executive Officer may grant Executive a leave or leaves of absence,                with                or without pay, at such time or times and upon such terms and conditions                as may be deemed appropriate. |
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**8.**
**Expense      Payments and Reimbursements**
**.  **

**9.**
**Automobile      Allowance**
**.**

**10.           Loyalty      and Confidentiality.**

|   | a. | During                the term of this Agreement, Executive will devote all his business                time,                attention, skill, and efforts to the faithful performance of his                duties                under this Agreement; provided, however, that from time to time,                Executive                may serve on the boards of directors of, and hold any other offices                or                positions in, companies or organizations that will not present any                conflict of interest with the Bank or any of its subsidiaries or                affiliates, unfavorably affect the |
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|   | performance                of Executive’s duties pursuant to this Agreement, or violate any                applicable statute or regulation.  Executive will not engage in                any business or activity contrary to the business affairs or interests                of                the Bank or any of its subsidiaries or                affiliates. |
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|   | b. | Nothing                contained in this Agreement will prevent or limit Executive’s right to                invest in the capital stock or other securities or interests of any                business dissimilar from that of the Bank, or, solely as a passive,                minority investor, in any business. |
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|   | c. | Executive                agrees to maintain the confidentiality of any and all information                concerning the operation or financial status of the Bank; the names                or                addresses of any of its borrowers, depositors and other customers;                any                information concerning or obtained from such customers; and any other                information concerning the Bank or its subsidiaries or affiliates                to which                he may be exposed during the course of his                employment.  Executive further agrees that, unless required by                law or specifically permitted by the Board in writing, he will not                disclose to any person or entity, either during or subsequent to                his                employment, any of the above-mentioned information which is not generally                known to the public, nor will he use the information in any way other                than                for the benefit of the Bank. |
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**11.**
**Termination      and Termination Pay**
**.  **

|   | a. | Death.  Executive’s                employment under this Agreement will terminate upon his death during                the                term of this Agreement, in which event Executive’s estate will receive the                compensation due to Executive through the last day of the calendar                month                in which his death occurred. |
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|   | b. | Retirement.  This                Agreement will terminate upon Executive’s retirement under the retirement                benefit plan or plans in which he participates pursuant to Section                6 of                this Agreement or otherwise. |
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|   | i. | The                Board or Executive may terminate Executive’s employment after having                determined Executive has a Disability.  For purposes of this                Agreement, “Disability” means a physical or mental infirmity that impairs                Executive’s ability to substantially perform his duties under this                Agreement and results in Executive becoming eligible for long-term                disability benefits under any long-term disability plans of the Bank                (or,                if no such plans exist, that impairs Executive’s ability to substantially                perform his duties under this Agreement for a period of one hundred                eighty                (180) consecutive days).  The Board will determine whether or                not Executive is and continues to be permanently disabled for purposes                of                this Agreement in good faith, based upon competent medical advice                and                other factors that the Board reasonably believes to be                relevant.  As a condition to any benefits, the Board may require                Executive to submit to physical or mental evaluations and tests as                the                Board or its medical experts deem reasonably                appropriate. |
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|   | ii. | In                the event of his Disability, Executive will no longer be obligated                to                perform services under this Agreement.  The Bank will pay                Executive, as Disability pay, an amount equal to fifty percent (50%)                of                Executive’s rate of base salary in effect as of the date of his                termination of employment due to Disability. The Bank will make Disability                payments on a monthly basis commencing on the first day of the                month |
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|   | following                the effective date of Executive’s termination of employment due to                Disability and ending on the earlier of: (A) the date he returns                to                full-time employment at the Bank in the same capacity as he was employed                prior to his termination for Disability; (B) his death; (C) his attainment                of age 65 or (D) the date this Agreement would have expired had                Executive’s employment not terminated by reason of Disability. The Bank                will reduce Disability payments by the amount of any short- or long-term                disability benefits payable to Executive under any other disability                programs sponsored by the Bank.  In addition, during any period                of Executive’s Disability, the Bank will continue to provide Executive and                his dependents, to the greatest extent possible, with continued coverage                under all benefit plans (including, without limitation, retirement                plans                and medical, dental and life insurance plans) in which Executive                and/or                his dependents participated prior to his Disability on the same terms                as                if he remained actively employed by the                Bank. |
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|   | i. | The                Board may, by written notice to Executive, immediately terminate                his                employment at any time for “Cause.”  Executive shall have no                right to receive compensation or other benefits for any period after                termination for Cause, except for already vested                benefits.  Termination for Cause shall mean termination because                of Executive’s: |
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|   | (1) | Personal                dishonesty; |
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|   | (2) | Incompetence; |
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|   | (3) | Willful                misconduct; |
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|   | (4) | Breach                of fiduciary duty involving personal                profit; |
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|   | (5) | Intentional                failure to perform stated duties; |
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|   | (6) | Willful                violation of any law, rule or regulation (other than traffic violations                or                similar offenses) or final cease-and-desist order;                or |
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|   | (7) | Material                breach of any provision of this                Agreement. |
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|   | e. | Voluntary                Termination by Executive.  In addition to his other rights                to terminate under this Agreement, Executive may voluntarily terminate                employment during the term of this Agreement upon at least sixty                (60) days                prior written notice to the Board. Upon Executive’s voluntary termination,                he will receive only his compensation, and vested rights and benefits                to                the date of his termination.  Following his voluntary                termination of employment under this Section 11(e), Executive will                be                subject to the restrictions set forth in Sections 11(g)(i) and 11(g)(ii)                of this Agreement for a period of one (1) year from his termination                date. |
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|   | f. | Without                Cause or With Good Reason. |
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|   | i. | In                addition to termination pursuant to Sections 11(a) through 11(e),                the                Board may, by written notice to Executive, immediately terminate                his                employment at any time for a reason other than Cause (a termination                “Without Cause”) and Executive may, |
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|   | by                written notice to the Board, immediately terminate this Agreement                at any                time within ninety (90) days following an event constituting “Good                Reason,” as defined below (a termination “With Good                Reason”). |
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|   | ii. | Subject                to Section 12 of this Agreement, in the event of termination under                this                Section 11(f), Executive will receive his base salary and the value                of                employer contributions to benefit plans in which the Executive                participated upon termination for the remaining term of the Agreement,                paid in one lump sum within ten (10) calendar days of his                termination.  Executive will also continue to participate in any                benefit plans of the Bank that provide medical, dental and life insurance                coverage for the remaining term of the Agreement, under terms and                conditions no less favorable than the most favorable terms and conditions                provided to senior executives of the Bank during the same                period.  If the Bank cannot provide such coverage because                Executive is no longer an employee, the Bank will provide Executive                with                comparable coverage on an individual policy basis or the cash                equivalent. |
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|   | iii. | “Good                Reason” exists if, without Executive’s express written consent, the Bank                materially breaches any of its obligations under this                Agreement.  Without limitation, such a material breach will                occur upon any of the following: |
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|   | (1) | A                material reduction in Executive’s responsibilities or authority in                connection with his employment with the                Bank; |
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|   | (2) | Assignment                to Executive of duties of a non-executive nature or duties for which                he is                not reasonably equipped by his skills and                experience; |
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|   | (3) | A                reduction in salary or benefits contrary to the terms of this Agreement,                or, following a Change in Control as defined in Section 12 of this                Agreement, any reduction in salary or material reduction in benefits                below                the amounts Executive was entitled to receive prior to the Change                in                Control; |
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|   | (4) | Termination                of incentive and benefit plans, programs or arrangements, or reduction                of                Executive’s participation, to such an extent as to materially reduce their                aggregate value below their aggregate value as of the Effective                Date; |
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|   | (5) | A                requirement that Executive relocate his principal business office                or his                principal place of residence outside of the area consisting of a                twenty-five (25) mile radius from the current main office and any                branch                of the Bank, or the assignment to Executive of duties that would                reasonably require such a relocation;                or |
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|   | iv. | Notwithstanding                the foregoing, a reduction or elimination of Executive’s benefits under                one or more benefit plans maintained by the Bank as part of a good                faith,                overall reduction or elimination of such plans or benefits, applicable                to                all participants in a manner that does not discriminate against Executive                (except as such discrimination may be necessary to comply with law),                will                not constitute an event of |
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|   | Good                Reason or a material breach of this Agreement, provided that benefits                of                the same type or to the same general extent as those offered under                such                plans prior to the reduction or elimination are not available to                other                officers of the Bank or any affiliate under a plan or plans in or                under                which Executive is not entitled to                participate. |
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|   | g. | Continuing                Covenant Not to Compete or Interfere with                Relationships.  Regardless of anything herein to the                contrary, following a termination by the Bank or Executive pursuant                to                Section 11(e) or 11(f): |
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|   | i. | Executive’s                obligations under Section 10(c) of this Agreement will continue in                effect;                and |
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|   | ii. | During                the period ending on the first anniversary of such termination, Executive                will not serve as an officer, director or employee of any bank holding                company, bank, savings association, savings and loan holding company,                mortgage company or other financial institution that offers products                or                services competing with those offered by the Bank from any office                within                thirty-five (35) miles from the main office or any branch of the                Bank and,                further, Executive will not interfere with the relationship of the                Bank,                its subsidiaries or affiliates and any of their employees, agents,                or                representatives. |
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|   | h. | To                the extent Executive is a member of the Board on the date of termination                of employment with the Bank, Executive will resign from the Board                immediately following such termination of employment with the                Bank.  Executive will be obligated to tender this resignation                regardless of the method or manner of termination, and such resignation                will not be conditioned upon any event or                payment. |
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**12.           Termination      in Connection with a Change in Control.**

|   | a. | For                purposes of this Agreement, a “Change in Control” means any of the                following events: |
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|   | i. | Merger:                Northeast Community Bancorp, Inc. (the “Company”) merges into or                consolidates with another entity, or merges another corporation into                the                Company, and as a result, less than a majority of the combined voting                power of the resulting corporation immediately after the merger or                consolidation is held by persons who were stockholders of the Company                immediately before the merger or                consolidation; |
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|   | ii. | Acquisition                of Significant Share Ownership:  There is filed, or is                required to be filed, a report on Schedule 13D or another form or                schedule                (other than Schedule 13G) required under Sections 13(d) or 14(d)                of the                Securities Exchange Act of 1934, as amended, if the schedule discloses                that the filing person or persons acting in concert has or have become                the                beneficial owner of 25% or more of a class of the Company’s voting                securities, but this clause (ii) shall not apply to beneficial ownership                of Company voting shares held in a fiduciary capacity by an entity                of                which the Company directly or indirectly beneficially owns 50% or                more of                its outstanding voting securities; |
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|   | iii. | Change                in Board Composition:  During any period of two consecutive                years, individuals who constitute the Company’s Board of Directors at the                beginning of the two-year period cease for any reason to constitute                at                least a majority of the |
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|   | Company’s                Board of Directors; provided, however, that for purposes of this                clause                (iii), each director who is first elected by the board (or first                nominated                by the board for election by the members) by a vote of at least two-thirds                (2/3) of the directors who were directors at the beginning of the                two-year                period shall be deemed to have also been a director at the beginning                of                such period; or |
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|   | iv. | Sale                of Assets:  The Company sells to a third party all or                substantially all of its assets. |
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|   | b. | Termination.  If                within the period ending one year after a Change in Control, (i)                the Bank                terminates Executive’s employment Without Cause, or (ii) Executive                voluntarily terminates his employment With Good Reason, the Bank                will,                within ten calendar days of the termination of Executive’s employment,                make a lump-sum cash payment to his equal to three times Executive’s                average “Annual Compensation” over the five (5) most recently completed                calendar years, ending with the year immediately preceding the effective                date of the Change in Control.  “Annual Compensation” will                include base salary and any other taxable income, including, but                not                limited to, amounts related to the granting, vesting or exercise                of                restricted stock or stock option awards, commissions, bonuses, retirement                benefits, director or committee fees and fringe benefits paid to                Executive                or accrued for Executive’s benefit.  Annual Compensation will                also include profit sharing, employee stock ownership plan and other                retirement contributions or benefits, including to any tax-qualified                plan                or arrangement (whether or not taxable) made or accrued on behalf                of                Executive for such year.  The cash payment made under this                Section 12(b) shall be made in lieu of any payment also required                under                Section 11(f) of this Agreement because of Executive’s termination of                employment, however, Executive’s rights under Section 11(f) are not                otherwise affected by this Section 12. Following termination of                employment, Executive will also continue to participate in any benefit                plans of the Bank that provide medical, dental and life insurance                coverage                upon terms no less favorable than the most favorable terms provided                to                senior executives.  If the Bank cannot provide such coverage                because Executive is no longer an employee, the Bank will provide                Executive with comparable coverage on an individual basis or the                cash                equivalent.  The medical, dental and life insurance coverage                provided under this Section 12(b) shall cease upon the earlier                of:  (i) Executive’s death; (ii) Executive’s employment by                another employer other than one of which he is the majority owner;                or                (iii) thirty-six (36) months after his termination of                employment. |
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|   | c. | The                provisions of Section 12 and Sections 14 through 27, including the                defined                terms used in such sections, shall continue in effect until the later                of                the expiration of this Agreement or one year following a Change in                Control. |
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|   | d. | Notwithstanding                anything in this Section 12 to the contrary, a “Change in Control” for                purposes of this Agreement shall not include any corporate restructuring                transaction by the Bank, including, but not limited to, a mutual                to stock                conversion, provided that the Board of Directors of the Bank immediately                preceding such transaction constitutes at least a majority of the                Board of                Directors of the Bank after such                transaction. |
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|   | **13.** | **Indemnification                and Liability                Insurance.** |
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|   | a. | Indemnification.  The                Bank agrees to indemnify Executive (and his heirs, executors, and                administrators), and to advance expenses related to this indemnification,                to the fullest extent permitted under applicable law and regulations                against any and all expenses and                liabilities |
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|   | that                Executive reasonably incurs in connection with or arising out of                any                action, suit, or proceeding in which he may be involved by reason                of his                service as a director or executive of the Bank or any of its subsidiaries                or affiliates (whether or not he continues to be a director or executive                at the time of incurring any such expenses or                liabilities).  Covered expenses and liabilities include, but are                not limited to, judgments, court costs, and attorneys’ fees and the costs                of reasonable settlements, subject to Board approval, if the action                is                brought against Executive in his capacity as an executive or director                of                the Bank or any of its subsidiaries. Indemnification for expenses                will not                extend to matters related to Executive’s termination for                Cause.  Notwithstanding anything in this Section 13(a) to the                contrary, the Bank will not be required to provide indemnification                prohibited by applicable law or regulation.  The obligations of                this Section 13 will survive the term of this Agreement by a period                of six                (6) years. |
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|   | b. | Insurance.  During                the period for which the Bank must indemnify Executive, the Bank                will                provide Executive (and his heirs, executors, and administrators)                with                coverage under a directors’ and officers’ liability policy at the Bank’s                expense, that is at least equivalent to the coverage provided to                directors                and senior executives of the Bank. |
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**14.**
**Reimbursement      of Executive’s Expenses to Enforce this      Agreement**
**.  **

**15.**
**Limitation      of Benefits Under Certain      Circumstances**
**.  **

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**16.**
**Injunctive      Relief**
**.  **

**17.           Successors      and Assigns.**

|   | a. | This                Agreement shall inure to the benefit of and be binding upon any corporate                or other successor of the Bank which shall acquire, directly or                indirectly, by merger, consolidation, purchase or otherwise, all                or                substantially all of the assets or stock of the                Bank. |
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|   | b. | Since                the Bank is contracting for the unique and personal skills of Executive,                Executive shall not assign or delegate his rights or duties under                this                Agreement without first obtaining the written consent of the                Bank. |
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**18.**
**No      Mitigation**
**.  **

**19.**
**Notices**
**.  **

**20.**
**Source      of Payments**
**.  **

**21.**
**No      Plan Created by this      Agreement**
**.  **

**22.**
**Amendments**
**.**

**23.**
**Applicable      Law**
**.**

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**24.**
**Severability**
**.  **

**25.**
**Headings**
**.**

**26.**
**Entire      Agreement**
**.**

**27.**
**Required      Provisions**
**.**

|   | a. | The                Bank’s board of directors may terminate Executive’s employment at any                time, but any termination by the Bank, other than termination for                Cause,                shall not prejudice Executive’s right to compensation or other benefits                under this Agreement.  Executive shall not have the right to                receive compensation or other benefits for any period after termination                for Cause as defined in Section 11(d) of this                Agreement. |
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|   | b. | If                Executive is suspended from office and/or temporarily prohibited                from                participating in the conduct of the Bank’s affairs by a notice served                under Section 8(e)(3) or 8(g)(1) of the Federal Deposit Insurance                Act, 12                U.S.C. Section 1818(e)(3) or (g)(1), the Bank’s obligations under this                contract shall be suspended as of the date of service, unless stayed                by                appropriate proceedings.  If the charges in the notice are                dismissed, the Bank may, in its discretion:  (i) pay Executive                all or part of the compensation withheld while its contract obligations                were suspended; and (ii) reinstate (in whole or in part) any of the                obligations which were suspended. |
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|   | c. | If                Executive is removed and/or permanently prohibited from participating                in                the conduct of the Bank’s affairs by an order issued under Section 8(e)(4)                or 8(g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. Section                1818(e)(4) or (g)(1), all obligations of the Bank under this contract                shall terminate as of the effective date of the order, but vested                rights                of the contracting parties shall not be                affected. |
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|   | d. | If                the Bank is in default as defined in Section 3(x)(1) of the Federal                Deposit Insurance Act, 12 U.S.C. Section 1813(x)(1), all obligations                under                this contract shall terminate  as of the date of default, but                this paragraph shall not affect any vested rights of the contracting                parties. |
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|   | e. | All                obligations under this contract shall terminate, except to the extent                determined that continuation of the contract is necessary for the                continued operation of the institution:  (i) by the Director of                the OTS (or his designee) at the time the FDIC enters into an agreement                to                provide assistance to or on behalf of the Bank under the authority                contained in Section 13(c) of the Federal Deposit Insurance Act,                12 U.S.C.                Section 1823(c), or (ii) by the Director of the OTS (or his designee)                at                the time the Director (or his designee) approves a supervisory merger                to                resolve problems related to the operations of the Bank or when the                Bank is                determined by the Director to be in an unsafe or unsound                condition.  Any rights of the parties that have already vested,                however, shall not be affected by such                action. |
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|   | f. | Any                payments made to Executive pursuant to this Agreement, or otherwise,                are                subject to  and conditioned upon their compliance with 12 U.S.C.                Section 1828(k) and FDIC Regulation 12 C.F.R. Part 359, Golden Parachute                and Indemnification Payments. |
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**IN      WITNESS WHEREOF,**

| ATTEST:                                     |   | **NORTHEAST                  COMMUNITY BANK**          |
|---------------------------------------------|--------|--------------------------------------------------------|
|                                        |   |                                                   |   |
|                                        |   |                                                   |   |
| /s/                Anne DeBlasi             |   | By:                                                    | /s/                Kenneth A. Martinek  |
| Witness                                     |   |                                                   | **For                  the Entire Board of Directors** |
|                                        |   |                                                   |   |
|                                        |   |                                                   |   |
|                                        |   |                                                   |   |
| ATTEST:                                     |   | **NORTHEAST                  COMMUNITY BANCORP, INC.** |
|                                        |   | **(As                  Guarantor)**                    |
|                                        |   |                                                   |   |
|                                        |   |                                                   |   |
| /s/                Anne DeBlasi        |   | By:                                                    | /s/                Kenneth A. Martinek  |
| Witness                                     |   |                                                   | **For                  the Entire Board of Directors** |
|                                        |   |                                                   |   |
|                                        |   |                                                   |   |
| WITNESS:                                    |   | **EXECUTIVE**                                          |
|                                        |   |                                                   |   |
|                                        |   |                                                   |   |
| /s/                Salvatore Randazzo  |   | By:                                                    | /s/                Michael N. Gallina  |
|                                        |   |                                                   | **Michael                  Gallina** |