**TWO-YEAR      EMPLOYMENT AGREEMENT**

**(EQUITABLE      FINANCIAL CORP./EQUITABLE BANK)**

**THIS      AGREEMENT**
**EQUITABLE      FINANCIAL CORP.,**
** **
**EQUITABLE      BANK, **
** **
**      KIM E. MARCO **

**W      I T N E S S E T H**

**WHEREAS**

**WHEREAS**

**WHEREAS**

**NOW,      THEREFORE**

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

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

**3.            **
**Term.**

|   | a. | The                term of this Agreement shall be (i) the initial term, consisting                of the                period commencing on the date of this Agreement (the “Effective Date”) and                ending on the second 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 year anniversary date of this Agreement, and continuing                on                each anniversary thereafter, the disinterested members of the boards                of                directors of the Bank and the Company may extend the Agreement an                additional year such that the remaining term of the Agreement shall                be                twenty-four (24) 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 of Directors of the Bank and the Company                (the                “Boards”) will review the Agreement and Executive’s performance annually                for purposes of determining whether to extend the Agreement and the                rationale and results thereof shall be included in the minutes of                the                Board’s meeting. The Executive shall receive notice as soon as possible                after such review as to whether the Agreement is to be                extended. |
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**4.            **
**Base      Compensation.**

|   | a. | The                Company and the Bank agree to pay the Executive during the term of                this                Agreement a base salary at the rate of $80,500 per year, payable                in                accordance with customary payroll                practices. |
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|   | b. | The                Boards shall review annually the rate of the Executive’s base salary based                upon factors they deem relevant, and may maintain or increase his                salary,                provided that no such action shall reduce the rate of salary below                the                rate in effect on the Effective                Date. |
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|   | c. | In                the absence of action by the Board, the Executive shall continue                to                receive salary at the annual rate specified on the Effective Date                or, if                another rate has been established under the provisions of this Section                4,                the rate last properly established by action of the Board under the                provisions of this Section 4. |
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**5.            **
**Bonuses.**

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

**7.            **
**Vacation      and Leave**
**.**

|   | a. | The                Executive shall be entitled to vacation and other leave in accordance                with                policy for senior executives, or otherwise as approved by the                Boards. |
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|   | b. | In                addition to paid vacation and other leave, the Executive shall be                entitled, without loss of pay, to absent himself voluntarily from                the                performance of his employment for such additional periods of time                and for                such valid and legitimate reasons as the Boards may in their discretion                determine. Further, the Boards may grant to the Executive a leave                or                leaves of absence, with or without pay, at such time or times and                upon                such terms and conditions as the Boards in their discretion may                determine. |
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**8.            **
**Expense      Payments and Reimbursements**
**.      **

**9.            **

**10.          **
**Loyalty      and Confidentiality**
**.**

|   | a. | During                the term of this Agreement Executive: (i) shall devote all his time,                attention, skill, and efforts to the faithful performance of his                duties                hereunder; 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 which will not present any conflict of                interest                with the Company and the Bank or any of their subsidiaries or affiliates,                unfavorably affect the performance of Executive’s duties pursuant to this                Agreement, or violate any applicable statute or regulation and (ii)                shall                not engage in any business or activity contrary to the business affairs                or                interests of the Company and the                Bank. |
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|   | b. | Nothing                contained in this Agreement shall prevent or limit Executive’s right to                invest in the capital stock or other securities of any business dissimilar                from that of the Company and 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 Company and 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 Company and the Bank to which                he may                be exposed during the course of his employment. The 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 shall he employ such information                in any way other than for the benefit of the Company and the                Bank. |
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**11.          **
**Termination      and Termination Pay**
**.      **

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|   | a. | Death.                Executive’s employment under this Agreement shall terminate upon his death                during the term of this Agreement, in which event Executive’s estate shall                be entitled to receive the compensation due to the Executive through                the                last day of the calendar month in which his death                occurred. |
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|   | b. | Retirement.                This Agreement shall be terminated 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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|   | c. | Disability. |
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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 that                results in Executive becoming eligible for long-term disability benefits                under any long-term disability plans of the Company and the Bank                (or, if                there are no such plans in effect, 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 shall 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 they reasonably believe to be relevant. As a condition                to any benefits, the Board may require Executive to submit to such                physical or mental evaluations and tests as it deems reasonably                appropriate. |
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|   | ii. | In                the event of such Disability, Executive’s obligation to perform services                under this Agreement will terminate. The Bank will pay Executive,                as                Disability pay, an amount equal to 70% of Executive’s bi-weekly rate of                base salary in effect as of the date of his termination of employment                due                to Disability. Disability payments will be made on a monthly basis                and                will commence on the first day of the month following the effective                date                of Executive’s termination of employment for Disability and end 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; or (C) upon attainment of age 65. Such                payments                shall be reduced by the amount of any short- or long-term disability                benefits payable to the Executive under any other disability programs                sponsored by the Company and the Bank. In addition, during any period                of                Executive’s Disability, Executive and his dependents shall, to the                greatest extent possible, continue to be covered under all benefit                plans                (including, without limitation, retirement plans and medical, dental                and                life insurance plans) of the Company and the Bank, in which Executive                participated prior to his Disability on the same terms as if Executive                were actively employed by the Company and the                Bank. |
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|   | d. | Termination                for Cause. |
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|   | i. | The                Board may, by written notice to the Executive in the form and manner                specified in this paragraph, terminate his employment at any time,                for                “Cause”. The Executive shall have no right to receive compensation or                other benefits for any period after termination for Cause. Termination                for                “Cause” shall mean termination because of, in the good faith determination                of the Board, 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 a final cease-and-desist order;                or |
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|   |   |   | (7) | Material                breach by Executive of any provision of this                Agreement. |
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|   |   | ii. | Notwithstanding                the foregoing, Executive shall not be deemed to have been terminated                for                Cause by the Company and the Bank unless there shall have been delivered                to Executive a copy of a resolution duly adopted at a meeting of                such                Board where in the good faith opinion of the Board, Executive was                guilty                of the conduct described above and specifying the particulars                thereof. |
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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                Boards, in which case Executive shall receive only his compensation,                vested rights and employee benefits up to the date of his                termination. |
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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                Boards, 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, by written notice to the Boards,                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 shall be entitled to receive his base salary                for                the remaining term of the Agreement paid in one lump sum within ten                (10)                calendar days of such termination. Also, in such event, Executive                shall,                for the remaining term of the Agreement, receive the benefits he                would                have received during the remaining term of the Agreement under any                retirement programs (whether tax-qualified or non-qualified) in which                Executive participated prior to his termination (with the amount                of the                benefits determined by reference to the benefits received by the                Executive                or accrued on his behalf under such programs during the twelve (12)                months                preceding his termination) and continue to participate in any benefit                plans of the Company or the Bank that provide health (including medical                and dental), or life insurance, or similar coverage upon terms no                less                favorable than the most favorable terms provided to senior executives                of                the Company and the Bank during such period. In the event that the                Company                and the Bank are unable to provide such coverage by reason of Executive                no                longer being an employee, the Company and the Bank shall provide                Executive                with comparable coverage on an individual policy                basis. |
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|   | iii. | “Good                Reason” shall exist if, without Executive’s express written consent, the                Company and the Bank materially breach any of their respective obligations                under this Agreement. Without limitation, such a material breach                shall be                deemed to 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 Company or 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 to which he was entitled 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                fifty                (50) 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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|   |   |   | (6) | Liquidation or dissolution of the Company or the              Bank. |
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|   |   | iv. | Notwithstanding                the foregoing, a reduction or elimination of the Executive’s benefits                under one or more benefit plans maintained by the Company or the                Bank as                part of a good faith, overall reduction or elimination of such plans                or                plans or benefits thereunder applicably to all participants in a                manner                that does not discriminate against Executive (except as such                discrimination may be necessary to comply with law) shall not constitute                an event of Good Reason or a material breach of this Agreement, provided                that benefits of the type or to the general extent as those offered                under                such plans prior to such reduction or elimination are not available                to                other officers of the Company and the Bank or any company that controls                either of them 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 Company and the Bank or Executive pursuant to Section                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, the                Executive shall not serve as an officer, director or employee of                any bank                holding company, bank, savings bank, savings and loan holding company,                or                mortgage company (any of which, a “Financial Institution”) which Financial                Institution offers products or services competing with those offered                by                the Bank from any office within fifty (50) miles from the main office                or                any branch of the Bank and shall not interfere with the relationship                of                the Company and the Bank and any of its employees, agents, or                representatives. |
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**12.          **
**Termination      in Connection with a Change in Control**
**.      **

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|   | a. | Termination.                If within the period ending two (2) years after a Change in Control,                (i)                the Company and the Bank shall terminate the Executive’s employment                Without Cause, or (ii) Executive voluntarily terminates his employment                With Good Reason, the Company and the Bank shall, within ten calendar                days                of the termination of Executive’s employment, make a lump-sum cash payment                to him equal to 2.00 times the 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.                In                determining Executive’s average Annual Compensation, Annual Compensation                shall 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 (whether                paid or accrued for the applicable period), as well as, retirement                benefits, director or committee fees and fringe benefits paid or                to be                paid to Executive or paid for Executive’s benefit during any such year,                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 of such year. The cash payment made under this Section                12(a)                shall be made in lieu of any payment also required under Section                11(f) of                this Agreement because of a termination in such period. Executive’s rights                under Section 11(f) are not otherwise affected by this Section 12.                Also, in such event, the Executive shall, for a twenty-four (24)                month                period following his termination of employment, receive the benefits                he                would have received over such period under any retirement programs                (whether tax-qualified or nonqualified) in which the Executive                participated prior to his termination (with the amount of the benefits                determined by reference to the benefits received by the Executive                or                accrued on his behalf under such programs during the twelve (12)                months                preceding the Change in Control) and continue to participate in any                benefit plans of the Company and the Bank that provide health (including                medical and dental), or life insurance, or similar coverage upon                terms no                less favorable than the most favorable terms provided to senior executives                of the Bank during such period. In the event that the Company and                the Bank                are unable to provide such coverage by reason of the Executive no                longer                being an employee, the Company and the Bank shall provide the Executive                with comparable coverage on an individual                policy. |
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|   | b. | The                provisions of Section 12 and Sections 14 through 25, including the                defined                terms used is such sections, shall continue in effect until the later                of                the expiration of this Agreement or two (2) years following a Change                in                Control. |
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**13.          **
**Indemnification      and Liability Insurance**
**.**

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|   | a. | Indemnification.                The Company and the Bank agree to indemnify the Executive (and his                heirs,                executors, and administrators), and to advance expenses related thereto,                to the fullest extent permitted under applicable law and regulations                against any and all expenses and liabilities reasonably incurred                by him in                connection with or arising out of any action, suit, or proceeding                in which                he may be involved by reason of his having been a director or Executive                of                the Company, the Bank or any of their subsidiaries (whether or not                he                continues to be a director or Executive at the time of incurring                any such                expenses or liabilities) such expenses and liabilities to include,                but not                be limited to, judgments, court costs, and attorney’s fees and the cost of                reasonable settlements, such settlements to be approved by the Board,                if                such action is brought against the Executive in his capacity as an                Executive or director of the Company and the Bank or any of their                subsidiaries. Indemnification for expense shall not extend to matters                for                which the Executive has been terminated for Cause. Nothing contained                herein shall be deemed to provide indemnification prohibited by applicable                law or regulation. Notwithstanding anything herein to the contrary,                the                obligations of this Section 13 shall survive the term of this Agreement                by                a period of six (6) years. |
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|   | b. | Insurance.                During the period in which indemnification of the Executive is required                under this Section, the Company and the Bank shall provide the Executive                (and his heirs, executors, and administrators) with coverage under                a                directors’ and Executives’ liability policy at the expense of the Company                and the Bank, at least equivalent to such coverage provided to directors                and senior Executives of the Company and 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 Company                and                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 Company and the                Bank. |
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|   | b. | Since the Company and the Bank                are                contracting for the unique and personal skills of Executive, Executive                shall be precluded from assigning or delegating his rights or duties                hereunder without first obtaining the written consent of the Company                and                the Bank. |
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**18.                **
**No      Mitigation**
**.      **

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

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**20.                **
**No      Plan Created by this Agreement**
**.      **

**21.           **
**Amendments**
**.**

**22.               **
**Applicable      Law**
**.**

**23.           **
**Severability**
**.      **

**24.                **
**Headings**
**.**

**25.          **
**Entire      Agreement**
**.**

**26.           **
**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)                hereinabove. |
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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. §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 their 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. §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.                §1813(x)(1) all obligations of the Bank 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 be terminated, except to the                extent                determined that continuation of the contract is necessary for the                continued operation of the Bank: (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. §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 employees                pursuant to                this Agreement, or otherwise, are subject to and conditioned upon                their                compliance with 12 U.S.C. §1828(k) and FDIC regulation 12 C.F.R. Part                359, Golden Parachute and Indemnification Payments. |
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**IN      WITNESS WHEREOF**

|                                 |                                                                                 |                                     |
|--------------------------------------|--------------------------------------------------------------------------------------|------------------------------------------|
|  Attest:                        | **EQUITABLE** **FINANCIAL              CORP.**                                  |
|                            |                                                                            |                                |
| /s/              Joanne Roush Holmes | By:                                                                        | /s/ H.              Lawrence Hanson |
|                                      | H.                Lawrence Hanson on                behalf of the Board of Directors |
|                                 |                                                                                 |

|                                 |                                                                                |                                             |
|--------------------------------------|-------------------------------------------------------------------------------------|--------------------------------------------------|
|  Attest:                        | **EQUITABLE              BANK**                                                     |
|                            |                                                                           |                                        |
| /s/              Joanne Roush Holmes | By:                                                                       | /s/              H.              Lawrence Hanson |
|                                      | H.                Lawrence Hansonon                behalf of the Board of Directors |
|                                 |                                                                                |

|                                             |                          |                                           |
|--------------------------------------------------|-------------------------------|------------------------------------------------|
|  Witness:                                   | **EXECUTIVE**                 |
|                                        |                     |                                      |
| /s/                Kimberly                Adair |                          | /s/                Kim E.                Marco |
|                                                  | Kim                  E. Marco |
|                                             |                          |

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