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                                                                    EXHIBIT 10.1

                         EXECUTIVE EMPLOYMENT AGREEMENT


         THIS AGREEMENT is made as of the 1st day of November, 2003 between THE
REEDSBURG BANK (the "Employer"), a Wisconsin corporation, its successors and
assigns, and MILBURN HAHS (the "Executive").

                                    RECITALS

         WHEREAS, Executive is a valued, long-term employee of Employer or its
subsidiaries, whose experience in the industry and continued employment will
benefit the Employer in the future; and

         WHEREAS, Employer desires to provide for management continuity and
stability and for the continued services of Executive.

                                    AGREEMENT

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth below:

         1.       Employment. Employer, or one of its subsidiaries, shall
continue to employ Executive and the Executive shall continue to serve, on the
terms and conditions set forth herein for the period provided in Section 2.

         2.       Term of Employment. The period of Executive's employment under
this Agreement shall be deemed to have commenced as of the date first above
written and shall continue for a period of thirty-six (36) calendar months
thereafter. The term of employment under this Agreement, as in effect from time
to time, shall be referred to as the "Employment Term". Commencing, on the first
anniversary date of this Agreement, and continuing at each anniversary date
thereafter, the Agreement shall renew for an additional twelve (12) months such
that the remaining term shall be thirty-six (36) months unless written notice is
provided by either party at least sixty (60) days prior to any such anniversary
date, that the Agreement shall terminate at the end of twenty-four (24) months
following such anniversary date. Prior to the renewal or non-renewal of the
Agreement, the Board of Directors or the Executive Personnel/Compensation
Committee will conduct a performance evaluation of the Executive for the purpose
of determining whether to extend the Agreement, and the results thereof shall be
included in the minutes of the Board or Executive Personnel/Compensation
Committee meeting. The term of employment under this Agreement, as in effect
from time to time, shall be referred to as the "Employment Term."

         3.       Positions and Duties. Executive shall serve Employer as
President And Chief Executive Officer and in such capacity as the Board of
Directors of Bank may, from time to time, determine. Executive shall provide
such management services as are customarily performed by persons serving in
similar capacities at other bank holding companies or their affiliates, and
perform such other duties as may be appropriate to his position and as may be
from time to time determined by Employer's or Bank's Board of Directors to be
necessary to its respective operations and in accordance with its respective
by-laws. During the Employment Term, Executive shall devote substantially all
his working time and efforts to the business and affairs of the Employer and
shall not engage in any activity which is competitive with or adverse to the
business of the Employer or any of its affiliates whether done as a partner,
director, officer, employee, shareholder of or consultant or advisor to any
other business.

         4.       Compensation. As compensation for services provided pursuant
to this Agreement, Executive shall receive the compensation and other benefits
set forth below:

                  (i)      Base Salary. During the Employment Term, Executive
         shall receive an annual base salary ("Base Salary") in such amounts as
         may from time to time be approved by the Board of Employer or the
         Executive Personnel/Compensation Committee of Merchants. The Base
         Salary in effect s of the Commencement Date shall be $114,000.00. Such
         amount shall be subject to review and to annual adjustment by the Board
         of Employer or the Executive Personnel/Compensation Committee in
         accordance with Employer's or Merchants' normal personnel practices. No
         increase in Base Salary or other compensation shall limit or reduce any
         other obligation of Employer. Executive's Base Salary and other
         compensation shall be paid in accordance with Employer's regular
         payroll practices. Review and adjustment of Executive's Base Salary
         shall be done on a basis comparable to, and applied uniformly with that
         utilized for other executives of Employer and/or its affiliates.

                  (ii)     Bonus Payments. In addition to Base Salary, Executive
         shall be entitled, during the Employment Term, to participate in and
         receive payments from all bonus and other incentive compensation plans
         as in effect from time to time on the same basis as other executive
         officers of Employer.

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                  (iii)    Other Benefits. During the Employment Term, Employer
         shall provide to Executive, in addition to Base Salary, such other
         benefits of employment (or, with Executive's consent, equivalent
         benefits) as are made generally available to executive officers serving
         in comparable positions at Employer or its affiliates. Such benefits
         include participation in any group health, life, disability, or similar
         insurance program and in any pension, profit sharing, deferred
         compensation, 401(k) or other similar retirement program provided.
         Executive shall also have the right to participate, on the same basis
         as other executives of Employer or its affiliates, in any stock
         purchase, stock option or stock appreciation rights plans, or other
         stock-based program made available to such executive officers.

                  Executive shall be entitled to vacation, sick time, personal
         days and other perquisites in the same manner and to the same extent as
         provided other executives of Employer.

                  Nothing contained herein shall be construed as granting
         Executive the right to continue in any benefit plan or program, or to
         receive any other perquisite of employment, provided under this section
         4(iii) (except to the extent Executive had previously earned or
         otherwise accumulated vested rights therein) following a valid and
         lawful termination or discontinuance of such plan, program or
         perquisite.

         5.       Termination. This Agreement may be terminated, subject to
payment of the compensation and other benefits described below, upon occurrence
of any of the events described herein. The date on which Executive ceases to be
employed under this Agreement, after giving effect to the period of time
specified in any notice requirement, is referred to as the "Termination Date."

                  (i)      Death; Disability; Retirement. This agreement shall
         terminate upon the death, disability or retirement of Executive. As
         used in this Agreement, "disability" means Executive's inability, as
         the result of physical or mental incapacity, to substantially perform
         his duties for a period of 180 consecutive days. If the Executive and
         Employer cannot agree as to the existence of a disability, the
         determination shall be made by a qualified independent physician
         acceptable to both parties, or alternatively, by a physician designated
         by the president of the medical society for the county in which
         Executive resides. The costs of any such medical examination shall be
         borne by Employer. If Executive is terminated due to disability, he
         shall be paid 100% of his Base Salary at the rate in effect at the time
         notice of termination is given for one year, and thereafter an annual
         amount equal to 75% of such Base Salary for the remaining portion of
         the Employment Term, such amounts to be paid in substantially equal
         monthly installments and offset by any monthly payments actually
         received by Executive from: (a) any disability plans or disability
         insurance programs provided by Employer, and (b) any governmental
         social security or workers compensation program.

                  As used in this Agreement, the term "retirement" shall mean
         Executive's retirement in accordance with and pursuant to any generally
         applicable retirement plan of Employer or in accordance with any
         retirement arrangement established for Executive with his consent.

                  If termination occurs as a result of death, disability or
         retirement, no additional compensation shall be payable to Executive
         under this Agreement except as specifically provided herein.
         Notwithstanding anything to the contrary contained herein, Executive
         shall receive all compensation and other benefits to which he was
         entitled under Section 4 and the plans and programs provided therein,
         through the Termination Date and, in addition, shall receive or
         continue to receive for the remaining portion of the Employment Term
         all other benefits available to him under any applicable group health,
         life, disability or similar insurance program as in effect on the date
         of death, disability or retirement.

                  If, following termination by reason of disability and prior to
         the expiration of the then remaining balance of the Employment Term,
         Executive becomes able to resume his duties, he shall be reinstated to
         his position, or if such position has been filled, to a position as
         nearly comparable as possible. From the date of reinstatement and for
         the balance of the Employment Term, Executive shall be obligated to
         perform all duties and responsibilities, and entitled to receive all
         compensation and other benefits, as provided in this Agreement.

                  (ii)     Cause. Employer may terminate Executive's employment
         under this Agreement for cause at any time, and thereafter Employer
         shall have no further obligation under this Agreement. Notwithstanding
         anything to the contrary contained herein, Executive shall receive all
         compensation and other benefits in which he was vested or to which he
         was otherwise entitled under Section 4 and the plans and programs
         provided therein, by reason of employment through the Termination Date.

                  For purposes of this Agreement, "Cause" shall mean:

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                  (a)      A failure by Executive to substantially perform his
                           duties (other than failure resulting from incapacity)
                           after a written demand by the Board, which demand
                           identifies, with reasonable specificity, the manner
                           in which the Board believes Executive has not
                           substantially performed, and Executive's failure to
                           cure within a reasonable period of time after his
                           receipt of this notice;

                  (b)      A criminal conviction of or plea of nolo contendere
                           by Executive for any act involving dishonesty, breach
                           of trust or a violation of the banking laws of the
                           State of Wisconsin or the United States;

                  (c)      A criminal conviction of or plea of nolo contendere
                           by Executive for the commission of any felony;

                  (d)      A breach of fiduciary duty by Executive involving
                           personal profit;

                  (e)      A willful violation of any law, rule or order by
                           Executive (other than traffic violations or similar
                           offenses); or

                  (f)      Incompetence, personal dishonesty or material breach
                           of any provision of this Agreement or any willful
                           misconduct by Executive.

                  For purposes of this subsection 5(ii), no act, or failure to
         act, on Executive's part shall be deemed "willful" unless done, or
         omitted to be done, by Executive not in good faith and without
         reasonable belief that the action or omission was in the best interest
         of Employer.

                  (iii)    Voluntary Termination by Executive. Executive may
voluntarily terminate employment at any time by giving at least ninety (90) days
prior written notice to Employer . In such event, Employer shall have no further
obligation hereunder, except that Executive shall receive all compensation and
other benefits in which he was vested or to which he was otherwise entitled
under Section 4 and the plans and programs provided therein, by reason of his
employment through the Termination Date.

                  (iv)     Termination by Executive After Change in Control.

                  (a)      For purposes of this Agreement, a "change in control"
                           shall be deemed to have occurred if any "individual,
                           entity or group" (as such term is used in Sections
                           13(d) and 14(d) of the Exchange Act) is or becomes
                           the "beneficial owner" (as defined in Rule 13d-3
                           under the Exchange Act), directly or indirectly, of
                           securities representing 25% or more of the voting
                           power of the securities of Employer or Employer's
                           parent company or becomes the owner of all or
                           substantially all of the assets of Employer or of
                           Employer's parent company or if the shareholders of
                           Employer or of Employer's parent company approve a
                           reorganization, merger or consolidation of Employer
                           of Employer's parent company. For purposes of this
                           section, "Parent Company" shall mean any entity which
                           owns or controls 25% or more of the voting power or
                           assets of Employer. "Change in control" shall not
                           refer to or include any transaction involving only
                           entities affiliated directly or indirectly with
                           Employer or any transaction between Employer and
                           Merchants and Manufacturers Bancorporation, Inc. or
                           any of its direct or indirect subsidiaries.

                  (b)      Executive may, at any time within twelve (12) months
                           following a "change in control," terminate his
                           employment under this Agreement by giving at least
                           ninety (90) days prior written notice to Employer,
                           and be entitled to the benefits described in Section
                           5(vi) below upon the occurrence of any of the
                           following events:

                                    1)       Executive is assigned to positions,
                           duties or responsibilities that are substantially
                           less significant than the positions, duties and
                           responsibilities provided herein;

                                    2)       Executive is removed from or
                           Employer fails to re-elect Executive to his position,
                           except in connection with termination of Executive's
                           employment for cause, disability or retirement, or in
                           connection with suspension or termination by or
                           pursuant to regulatory action;

                                    3) Executive's Base Salary is reduced other
                           than as the result of a program applied on a
                           proportionately equivalent basis to all executives of
                           Employer and its affiliates.

                  (v)      Suspension or Termination required by Regulatory
                           Agencies.

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                  (a)      If Executive is suspended and/or temporarily
                           prohibited from participating in the conduct of
                           Employer's or any of Employer's affiliates' affairs
                           by a regulatory agency, Employer's obligations under
                           the Agreement shall be suspended as of the date of
                           service of the notice unless stayed by appropriate
                           proceedings. If the charges in the notice are
                           dismissed, the Employer shall: (1) pay Executive all
                           of the compensation withheld while its obligations
                           under this Agreement were suspended; and (2)
                           reinstate any of its obligations which were
                           suspended.

                  (b)      If Executive is removed and/or permanently prohibited
                           from participating in the conduct of Employer's or
                           any of Employer's affiliates affairs by an order
                           issued by a regulatory agency, the obligation of
                           Employer under the Agreement shall terminate as of
                           the effective date of the order, but earned or
                           otherwise vested rights of Executive to compensation
                           and to any benefits under Section 4 shall not be
                           affected.

                  (c)      All obligations under the Agreement may be
                           terminated, except to the extent determined that
                           continuation of the contract is necessary to
                           operation of Employer or any of its affiliates, at
                           the time the Federal Deposit Insurance Corporation
                           ("FDIC") enters into an agreement to provide
                           assistance to or on behalf of Employer or any of
                           Employer's affiliates under the authority contained
                           in Section 13(c) of the Federal Deposit Insurance
                           Act, or when Employer or any of its affiliates is
                           determined by any appropriate bank regulatory agency
                           to be in an unsafe or unsound condition. Any rights
                           of the parties that have been already earned or
                           otherwise vested, however, shall not be affected by
                           such action.

                  (vi)     Benefits Upon Other Termination by Employer or Upon
         Termination by Executive Following a "Change in Control." If this
         Agreement is terminated by Employer other than for death, disability or
         retirement under Section 5(i) and other than for "cause" under Section
         5(ii) or other than by regulatory action under Section (v), or if
         Executive terminates this Agreement following a "change in control"
         pursuant to Section 5(iv)(b), then following the Termination Date,
         Executive shall be entitled to the following benefits:

                  (a)      In lieu of any further salary payments, Executive
                           shall receive severance payments equal to the sum of
                           the Base Salary in effect on the Termination Date
                           plus cash bonus for the year prior to termination
                           times the number of years of the remaining Employment
                           Term, payable in the amount and at the times provided
                           in Sections 4(i) and (ii). If termination follows a
                           "change in control" under Section 5(iv)(b), Executive
                           may elect to receive the payments specified in the
                           immediately preceding sentence in a lump sum without
                           any discount, provided that the amount of such
                           severance payments may not exceed the limitations
                           established in Section 6.

                  (b)      In addition to other amounts payable to Executive
                           under this Section 5(vi), Executive shall be entitled
                           to receive all other benefits in which he was vested
                           or to which he was otherwise entitled under Section 4
                           and the plans and programs provided therein by reason
                           of employment through the Termination Date, together
                           with the continuation, without cost to Executive, of
                           other benefits under Section 4(iii) for the remaining
                           unexpired Employment Term, all subject to the
                           limitations set forth in Section 6 below.

                  (vii)    Suspension by Employer. Employer in its sole
         discretion shall have the right to temporarily suspend Executive from
         participating in the conduct of the Employer's or Employer's
         affiliates' affairs. If Executive is suspended or temporarily
         prohibited from participating in the conduct of Employer's or
         Employer's affiliates' business, Employer shall pay Executive all
         compensation and provide all benefits pursuant to Section 4 of this
         Agreement during the period of such suspension.

         6.       Limitations on Change in Control Compensation. In the event
severance benefits under Subsection 5(vi), or any other payments or benefits
received or to be received by Executive from Employer (whether payable pursuant
to the terms of this Agreement, any other plan, agreement or arrangement with
Employer or any corporation ("Affiliate") affiliated with employer within the
meaning of Section 1504 of the Internal Revenue Code of 1986 as amended (the
"Code")), constitute, in the opinion of tax counsel selected by Employer's
independent auditors and acceptable to Executive, "parachute payments" within
the meaning of Section 280G(b)(2) of the Code, and the present value of such
"parachute payments" equals or exceeds three times the average of the annual
compensation payable to Executive by Employer (or an Affiliate) and includible
in Executive's gross income for federal income tax purposes for the five (5)
calendar years preceding the year in which a change in ownership occurred ("Base
Amount"), such severance benefits shall be reduced to an amount the present
value of which (when combined with the present value of any other payments
otherwise received or to be received by Executive from Employer (or an
Affiliate) that are deemed parachute payments") is equal to 2.99 times the Base
Amount, notwithstanding any other provision to the contrary in this Agreement.
The severance benefits shall not be reduced if (i) Executive shall have
effectively waived his receipt or enjoyment of any such payment or benefit which
triggered the

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applicability of this Section 6, or (ii) in the opinion of tax counsel, the
severance benefits (in their full amount or as partially reduced, as the case
may be) plus all other payments or benefits which constitute "parachute
payments" within the meaning of Section 280OG(b)(2) of the Code are reasonable
compensation for services actually rendered, within the meaning of Section
28OG(b)(4) of the Code and such payments are deductible by Employer. The Base
Amount shall include every type and form of compensation includible in
Executive's gross income in respect of his employment by Employer (or an
Affiliate), except to the extent otherwise provided in temporary or final
regulations promulgated under Section 28OG(b) of the Code. For purposes of this
Section 6, a "change in ownership or control" shall have the meaning set forth
in Section 28OG(b) of the Code and any temporary or final regulations
promulgated thereunder. The present value of any non-cash benefit or any
deferred cash payment shall be determined by Employer's independent auditors in
accordance with the principles of Section 28OG of the Code.

         Executive shall have the right to request that Employer obtain a ruling
from the Internal Revenue Service ("Service") as to whether any or all payments
or benefits determined by such tax counsel are, in the view of the Service,
"parachute payments" under 280G. If a ruling is sought pursuant to Executive's
request, no severance benefits payable under this Agreement in excess of the
Section 28OG limitation shall be made to Executive until after fifteen (15) days
from the date of such ruling; however, severance benefits shall continue to be
paid during this time up to the amount of that limitation. For purposes of this
Section 6, Executive and Employer agree to be bound by the Service's ruling as
to whether payments constitute "parachute payments" under Section 280G. If the
Service declines, for any reason, to provide the ruling requested, the tax
counsel's opinion provided with respect to what payments or benefits constitute
"parachute payments" shall control, and the period during which the severance
benefits may be deferred shall be extended to a date fifteen (15) days from the
date of the Service's notice indicating that no ruling will be forthcoming.

         7.       Waiver of Change in Control Salary Continuation Benefits. In
connection with this Agreement, Executive agrees that, for purposes of the
Reedsburg Bank Executive Employee Salary Continuation Agreement by and between
Executive and the Bank dated March 24, 2000 (the "SCA"), the acquisition of the
Bank by Merchants and Manufacturers Bancorporation, in accordance with the
Merger Agreement dated April 24, 2003, as amended (the "Acquisition"), shall not
constitute a Change of Control. Therefore, the Executive acknowledges that he is
not entitled to the benefits under Section 3.5(c) of the SCA as a result of the
Acquisition. Executive and Employer agree that, except as provided in this
paragraph 7, the benefits under Section 3.5(c) of the SCA remain available to
Executive upon a Change in Control (as such term is defined in the SCA) or upon
a change in control as defined in subsection 5(iv)(a) of this Agreement (in
either instance, a "Second Change in Control"). Employer acknowledges that this
Agreement does not supersede the SCA. Except as provided in this paragraph,
Employer agrees that in no event shall Executive lose any of the benefits to
which he is entitled under the SCA without the consent of the Executive.

         8.       Termination of Severance Payment Agreement and Non-Competition
Agreement. In consideration of entering into this Employment Agreement, Employer
and Executive agree that the Severance Payment Agreement dated March 24, 2000 by
and between Employer and Executive and the Non-Competition Agreement dated March
24, 2000 by and between Employer and Executive are each terminated in their
entirety and all rights and obligations of the parties to such agreements are
rendered null and void commencing on the date of this Employment Agreement.

         9.       General Provisions.

                  (i)      Successors; Binding Agreement.

                  (a)      Employer will require any successor (whether direct
                           or indirect, by purchase, merger, consolidation or
                           otherwise) to substantially all of the business
                           and/or assets of Employer ("Successor Organization")
                           to expressly assume and agree to perform this
                           Agreement in the same manner and to the same extent
                           that Employer would have been required to perform if
                           no such succession had taken place. If such
                           succession is the result of a "change in control" as
                           defined herein, such assumption shall specifically
                           preserve to Executive, for the then remaining term of
                           this Agreement, the same rights and remedies
                           (recognizing them as being available and applicable
                           as the result of the "change in control" effectuating
                           said succession) provided under this Agreement upon a
                           "change in control."

                           As used in this Agreement, Employer shall mean The
                           Reedsburg Bank and any successor to its business
                           and/or assets, which becomes bound by the terms and
                           provisions of this Agreement by operation of this
                           Agreement or by law. Failure of Employer to obtain
                           such agreement prior to the effectiveness of any such
                           succession shall be a breach of this Agreement and
                           shall entitle Executive to compensation from Employer
                           in the same amount and on the same terms as he would
                           be entitled to under this Agreement if he terminated
                           his employment under Section 5(iv). For purposes of
                           implementing the foregoing, the date on which any
                           such succession becomes effective shall be deemed the
                           Termination Date.

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                  (b)      No right or interest to or in any payments or
                           benefits under this Agreement shall be assignable or
                           transferable in any respect by the Executive, nor
                           shall any such payment, right or interest be subject
                           to seizure, attachment or creditor's process for
                           payment of any debts, judgments, or obligations of
                           Executive.

                  (c)      Any rights and obligations of Employer under this
                           Agreement may be assigned or transferred by Employer
                           to any of its affiliates prior to a change in control
                           as defined in this Agreement.

                  (d)      This Agreement shall be binding upon and inure to the
                           benefit of and be enforceable by Executive and his
                           heirs, beneficiaries and personal representatives and
                           Employer and any successor organization or assignee
                           of Employer.

                  (ii)     Non-competition/Non-solicitation/Confidentiality
         Provisions. Executive acknowledges that the development of personal
         contacts and relationships is an essential element of Employer's and
         Employer's affiliates' business, that Employer has invested
         considerable time and money in his development of such contacts and
         relationships, that Employer and its affiliates could suffer
         irreparable harm if he were to leave Employer's employment and solicit
         the business of customers of Employer or Employer's affiliates and that
         it is reasonable to protect Employer against competitive activities by
         Executive. Executive covenants and agrees, in recognition of the
         foregoing and in consideration of the mutual promises contained herein,
         that in the event of a termination of his employment with Employer or
         any of its affiliates, Executive shall not accept employment with any
         Significant Competitor of Employer or of any of Employer's affiliates
         for a period of eighteen (18) months following such termination. For
         purposes of this Agreement, the term "Significant Competitor" means any
         financial institution including, but not limited to, any commercial
         bank, savings bank, savings and loan association, credit union, or
         mortgage banking corporation which, at the time of termination of
         Executive's employment with Employer or during the period of this
         covenant not to compete, has a home, branch or other office within a
         fifty (50) mile radius of any office operated or maintained by
         Employer.

                  Executive agrees that the non-competition provisions set forth
         herein are necessary for the protection of Employer and its affiliates
         and are reasonably limited as to (a) the scope of activities affected,
         (b) their duration and geographic scope, and (c) their effect on
         Executive and the public. In the event Executive violates the
         non-competition provisions set forth herein, Employer shall be
         entitled, in addition to its other legal remedies, to enjoin the
         employment of Executive with any Significant Competitor for the period
         set forth herein. If Executive violates this covenant and Employer
         brings legal action for injunctive or other relief, Employer shall not,
         as a result of the time involved in obtaining such relief, be deprived
         of the benefit of the full period of the restrictive covenant.
         Accordingly, the covenant shall be deemed to have the duration
         specified herein, computed from the date relief is granted, but reduced
         by any period between commencement of the period and the date of the
         first violation.

                  Executive acknowledges that as a result of his employment with
         Employer or its affiliates Executive has access to confidential
         information concerning Employer's business, customers and services.
         Executive agrees that during the Employment Term or subsequent thereto,
         he will not, directly or indirectly, whether in original, duplicated,
         computerized or other form, use, disclose or divulge to any person,
         agency, firm, corporation or other entity any confidential or
         proprietary information, including, without limitation, customer lists,
         reports, files, manuals, training materials, records or information of
         any kind, or any other secret or confidential information pertaining to
         the products, services, customers or prospective customers, sales,
         technology and business affairs or methods of Employer or any of its
         affiliates (collectively "Confidential Information") which Executive
         acquires or has access to during the Employment Term. Notwithstanding
         the foregoing, Confidential Information shall not include information
         or data which is otherwise available in the public domain. Executive
         agrees that he will not at any time either during or subsequent to his
         employment with Employer disclose or transmit, either directly or
         indirectly, any Confidential Information of Employer or its affiliates
         to any person, firm, corporation, association, or other entity, and
         will not remove this information, in any form whatsoever, from the
         premises or data base of Employer or its affiliates, except as required
         in the ordinary course of business as is necessary to perform
         Executive's duties or as required by applicable law. In the event of
         Executive's termination from employment from Employer for any reason,
         Executive shall immediately return all Confidential Information of
         Employer, including any original, computerized or duplicated records to
         Employer.

                  Executive agrees that during the term of his employment with
         Employer, and for a term of eighteen (18) months thereafter, he will
         not, directly or indirectly, on behalf of himself or on behalf of any
         other individual or entity, as an agent or otherwise contact, influence
         or encourage any of the customers of Employer, of which Executive has
         knowledge or based on his capacity of employment for Employer or its
         subsidiaries should reasonable have had knowledge, for the purpose of
         soliciting business or inducing such customer to acquire any product or
         service that is provided or under development by Employer or its
         affiliates from any entity other than Employer.

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                  Executive agrees that during the term of his employment with
         Employer, and for a period of eighteen (18) months thereafter, he will
         not, directly or indirectly, encourage, induce, or entice any employee
         of Employer or its affiliates to leave the employment of Employer or
         its affiliates.

         Executive agrees that if he violates the covenants under this section,
Employer shall be entitled to an accounting and repayments of all profits,
compensation, commissions and other remuneration or benefits which the Executive
has realized or may realize as the result of or in connection with any such
violation. Executive further agrees that money damages may be difficult to
ascertain in case of a breach of this covenant, and Executive therefore agrees
that Employer or its affiliates shall be entitled to injunctive relief in
addition to any other remedy to which Employer or its affiliates may be
entitled.

                  (iii)    Notice. All notices and other communications provided
         for in this Agreement shall be in writing and shall be deemed duly
         given when delivered or mailed by United States registered mail, return
         receipt requested, postage prepaid, addressed in the case of Employer
         to its principal office and in the case of Executive, to his address
         appearing on the records of Employer or to such other address as either
         party may have furnished to the other in writing in accordance
         herewith.

                  (iv)     Expenses. If legal proceedings are necessary to
         enforce or interpret this Agreement, or to recover damages for breach,
         the prevailing party shall be entitled to recover reasonable attorneys'
         fees, costs and disbursements of such proceedings, in addition to any
         other relief to which such prevailing party may be entitled.
         Notwithstanding, the foregoing, in the event of legal proceedings to
         enforce or interpret this Agreement following a "change in control,"
         Executive shall be entitled to recover from Employer: (a) reasonable
         attorneys fees, costs, and disbursements if Executive is the prevailing
         party; or (b) reasonable attorneys' fees, costs and disbursements of up
         to $7,500 incurred in such proceedings regardless of whether Executive
         is the prevailing party. Recovery of attorneys' fees and costs
         following a "change in control" shall be in addition to any other
         relief to which Executive is entitled.

                  (v)      Withholding. Employer shall be entitled to withhold
         from amounts to be paid to Executive under this Agreement any federal,
         state, or local withholding or other taxes or charges which it is from
         time to time required to withhold. Employer shall be entitled to rely
         on an opinion of counsel as to the amount or requirement of any such
         withholding.

                  (vi)     Miscellaneous. No provision of this Agreement may be
         amended, waived or discharged unless such amendment, waiver or
         discharge is agreed to in writing and duly executed by Executive and
         Employer or its successor in interest. This Agreement constitutes the
         entire agreement between the parties with respect to the subject matter
         hereof and supersedes all prior agreements and undertakings, whether
         written or oral, between the parties with respect thereto; no
         agreements or representations, oral or otherwise, expressed or implied,
         have been made by either party with respect to the subject matter
         hereof. The validity, interpretation, construction and performance of
         this Agreement shall be governed by the laws of the State of Wisconsin.

                  (vii)    Validity. The invalidity or unenforceability of any
         provision of this Agreement shall not affect the validity or
         enforceability of any other provision of this Agreement, which shall
         remain in full force and effect.

                  (viii)   Counterparts. This Agreement may be executed in
         several counterparts, all of which together will constitute one and the
         same instrument.

                                       39

<PAGE>

                  (ix)     Headings. Headings contained in this Agreement are
         for reference only and shall not affect the meaning or interpretation
         of any provision of this Agreement.

                  (x)      Effective Date. The effective date of this Agreement
         shall be the date indicated in the first paragraph of this Agreement
         notwithstanding the actual date of execution by any party.

         IN WITNESS WHEREOF, the undersigned have duly executed this Agreement
as of the date first above written.

                                      EXECUTIVE

                                      /s/ Milburn Hahs
                                      -----------------------------------------
                                      MILBURN HAHS

                                      THE REEDSBURG BANK

                                      /s/ Erich Mildenberg
                                      -----------------------------------------
                                      By:  Erich Mildenberg
                                      Title:  Chairman of the Board of Directors