|   | 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 third anniversary of the Effective Date, plus (ii) any and      all extensions of the initial term made pursuant to this Section      3. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 may extend the Agreement for an additional one-year      period beyond the then effective expiration date, 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 (the “Board”) will review 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 Board shall give notice to Executive as      soon as possible after such review as to whether the Agreement is to be      extended. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | a. | The      Bank agrees to pay Executive during the term of this Agreement a base      salary at the rate of $109,200 per year,      payable in accordance with customary payroll  practices. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | The      Board shall review annually the rate of Executive’s base salary based upon      factors they deem relevant, and may maintain or increase her salary,      provided that no such action shall reduce the rate of salary below the      rate in effect on the EffectiveDate. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c. | In      the absence of action by the Board, 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. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | a. | Executive      shall be entitled to an annual vacation in accordance with the policies      that the Board periodically establishes for senior management      employees. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Executive      shall accumulate any unused vacation and/or sick leave from one fiscal      year to the next, in either case to the extent authorized by the Board,      provided that the Board shall not reduce previously accumulated vacation      or sick leave. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c. | In      addition to the above mentioned paid vacations, Executive shall be      entitled, without loss of pay, to absent herself voluntarily from the      performance of her employment for such additional periods of time and for      such valid and legitimate reasons as the Board may in its discretion      determine.  Further, the Board may grant Executive a leave or      leaves or absence, with or without pay, at such time or times and upon      such terms and conditions as the Board in its discretion may      determine. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | a. | During      the term of this Agreement and except for illnesses, reasonable vacation      periods, and reasonable leaves of absence, Executive: (i) shall devote her      full business time, attention, skill, and efforts to the faithful      performance of her 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 Bank or any of their      subsidiaries or affiliates or 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 Bank. “Full      business time” is hereby defined as that amount of time usually devoted to      like companies and institutions by similarly situated executive      officers. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 Bank, or, solely as a passive, minority investor, in any      business. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 to which she may be exposed during the      course of her employment.  Executive further agrees that, unless      required by law or specifically permitted by the Board in writing, she      will not disclose to any person or entity, either during or subsequent to      her employment, any of the above-mentioned information which is not      generally known to the public, nor shall she employ such information in      any way other than for the benefit of theBank. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | a. | Death.  Executive’s      employment under this Agreement shall terminate upon her death during the      term of this Agreement, in which event Executive’s estate shall be      entitled to receive the compensation due to Executive through the last day      of the calendar month in which her death  occurred. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Retirement.  This      Agreement shall be terminated upon Executive’s retirement under the      retirement benefit plan or plans in which she participates pursuant to      Section 6 of this Agreement orotherwise. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 her duties under this      Agreement and that results in Executive becoming eligible for long-term      disability benefits under any long-term disability plans of the Bank (or,      if there are no such plans in effect, that impairs Executive’s ability to      substantially perform her 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 reasonablyappropriate. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | ii. | In      the event of such Disability, Executive shall be entitled to the      compensation and benefits provided for under this Agreement for (1) any      period during the term of this Agreement and prior to the establishment of      Executive’s Disability during which Executive is unable to work due to the      physical or mental infirmity, and (2) any period of Disability which is      prior to Executive’s termination of employment pursuant to this Section      11c.; provided, however, that any benefits paid pursuant to the Bank’s      long-term disability plan will continue as provided in such plan without reduction for      payments made pursuant to this Agreement.  During any period      that Executive receives disability benefits and to the extent that      Executive shall be physically and mentally able to do so, she shall      furnish such information, assistance and documents so as to assist in the      continued ongoing business of the Bank and, if able, she shall make      herself available to the Bank to undertake reasonable assignments      consistent with her prior position and her physical and mental      health.  The Bank shall pay all reasonable expenses incident to      the performance of any assignment given to Executive during the Disability      period. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | i. | The      Board may, by written notice to Executive in the form and manner specified      in this paragraph, immediately terminate her 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      vested benefits.  Termination for Cause shall mean termination      because of, in the good faith determination of the Board,      Executive’s: |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | Personal      dishonesty; |
|--------|-----|---------------------------|

|   | (2) | Incompetence; |
|--------|-----|---------------|

|   | (3) | Willful      misconduct; |
|--------|-----|--------------------------|

|   | (4) | Breach      of fiduciary duty involving personalprofit; |
|--------|-----|---------------------------------------------------------|

|   | (5) | Intentional      failure to perform stated duties under this  Agreement; |
|--------|-----|--------------------------------------------------------------------------|

|   | (6) | Willful      violation of any law, rule or regulation (other than traffic violations or      similar offenses) that reflects adversely on the reputation of the Bank,      any felony conviction, any violation of law involving moral turpitude, or      any violation of a final cease-and-desist order;  or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (7) | Material      breach by Executive of any provision of this  Agreement. |
|--------|-----|------------------------------------------------------------------------|

|   | ii. | Notwithstanding      the foregoing, Executive shall not be deemed to have been terminated for      Cause unless there shall have been delivered to Executive a copy of a      resolution duly adopted by the affirmative vote of a majority of the      entire membership of the Board at a meeting of such Board called and held      for the purpose (after reasonable notice to Executive and an opportunity      for Executive to be heard before the Board with counsel), of finding that,      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 her other rights to      terminate under this Agreement, Executive may voluntarily terminate      employment during the term of this Agreement upon at least ninety (90)      days’ prior written notice to the Board, in which case Executive shall      receive only her compensation, vested rights and employee benefits up to      the date of her termination. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | i. | In      addition to termination pursuant to Sections 11a. through 11e., the Board      may, by written notice to Executive, immediately terminate her employment      at any time for a reason other than Cause (a termination      “Without  Cause”) and Executive may, 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”). |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ii. | Subject      to Section 12 of this Agreement, in the event of termination under this      Section 11f., Executive shall be entitled to receive her 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 she 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 her termination      (with the amount of the benefits determined by reference to the benefits      received by Executive or accrued on her behalf under such programs during      the twelve (12) months preceding her termination) and continue to      participate in any benefit plans of the Bank that provide health      (including medical and dental), life or disability 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 Bank is unable to provide such      coverage by reason of Executive no longer being an employee, the Bank      shall provide Executive with comparable coverage on an individual policy      basis. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | iii. | “Good      Reason” shall exist if, without Executive’s express written consent, 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 thefollowing: |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | A      material reduction in Executive’s responsibilities or authority in      connection with her employment with theBank; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Assignment      to Executive of duties of a non-executive nature or duties for which she      is not reasonably equipped by her skills and  experience; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (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 Executive was entitled prior to the Change in      Control; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (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; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (5) | A      requirement that Executive relocate her principal business office or her      principal place of residence outside of the area consisting of a thirty      (30) 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 |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 thereunder      applicable 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 Bank      or any company that controls either of them under a plan or plans in or      under which Executive is not entitled to  participate. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 11f.: |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | i. | Executive’s      obligations under Section 10c. of this Agreement will continue in effect;      and |
|--------|----|-----------------------------------------------------------------------------------------------------------|

|   | ii. | During      the period ending on the first anniversary of such termination, 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 shall be 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 Bank and any of its employees, agents, or    representatives. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | a. | For      purposes of this Agreement, a “Change in Control” means any of the      following events with respect to the Bank or Kentucky First Federal      Bancorp, Inc. (the “Company”): |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | i. | Merger: The      Company merges into or consolidates with another corporation, 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: The Company files, or is required to      file, 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, 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 (b)      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. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 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      stockholders) 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 |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | iv. | Sale of      Assets:  The Company sells to a third party all or      substantially all of its assets. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------|

|   | b. | Termination.  If      within the period ending one year after a Change in Control, (i) the Bank      shall terminate Executive’s employment Without Cause, or (ii) Executive      voluntarily terminates her employment with Good Reason, the Bank shall,      within ten calendar days of the termination of Executive’s employment,      make a lump-sum cash payment to her 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.  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 for such years. The cash payment      made under this Section 12b. shall be made in lieu of any payment also      required under Section 11f. of this Agreement because of a termination in      such period.  Executive’s rights under Section 11f. are not      otherwise affected by this Section 12.  Also, in such event,      Executive shall, for a thirty-six (36) month period following her      termination of employment, receive the benefits she would have received      over such period under any retirement programs (whether tax-qualified or      non-tax-qualified) in which Executive participated prior to her      termination (with the amount of the benefits determined by reference to      the benefits received by Executive or accrued on her behalf under such      programs during the twelve (12) months preceding the Change in Control)      and continue to participate in any benefit plans of the Bank that provide      health (including medical and dental), life or disability insurance, or      similar coverage upon terms no less favorable than the most favorable      terms provided to senior executives during such period.  In the      event that the Bank is unable to provide such coverage by reason of      Executive no longer being an employee, the Bank shall provide Executive      with comparable coverage on an individual policy basis or the cash      equivalent. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | c. | The      provisions of Section 12 and Sections 14 through 25, 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. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Indemnification and      Liability Insurance. |
|--------|-----------------------------------------------|

|   | a. | Indemnification.  The      Bank agrees to indemnify Executive (and her 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 her in connection with or      arising out of any action, suit, or proceeding in which she may be      involved by reason of her having been a director or Executive of the Bank      or any of its subsidiaries (whether or not she 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 attorneys’ fees and the costs of reasonable      settlements, such settlements to be approved by the Board, if such action      is brought against Executive in her capacity as an Executive or director      of the Bank or any of its subsidiaries.  Indemnification for      expenses shall not extend to matters for which 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. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Insurance.  During      the period in which indemnification of Executive is required under this      Section, the Bank shall provide Executive (and her heirs, executors, and      administrators) with coverage under a directors’ and officers’ liability      policy at the expense of the Bank, at least equivalent to such coverage      provided to directors and senior executives of the  Bank. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | 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. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Since      the Bank is contracting for the unique and personal skills of Executive,      Executive shall be precluded from assigning or delegating her rights or      duties hereunder without first obtaining the written consent of the      Bank. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | a. | The      Bank 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 7 of thisAgreement. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 their contract obligations      were suspended; and (ii) reinstate (in whole or in part) any of the      obligations which were suspended. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 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. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | e. | All      obligations of the Bank under this contract shall be terminated, 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 the Director’s designee), the FDIC or the Resolution Trust      Corporation, 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 the Director’s 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 suchaction. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | f. | Any      payments made to Executive pursuant to this Agreement, or otherwise, are      subject to and conditioned upon compliance with 12 U.S.C. Section 1828(k)      and 12 C.F.R. Section 545.121 and any rules and regulations promulgated      thereunder. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ATTEST:         |   | FIRST      FEDERAL SAVINGS BANK OF FRANKFORT |
|-----------------|--------|----------------------------------------------|
|            |   |                                         |   |
| /s/ Teresa Kuhl |   | By:                                | /s/ Herman D. Regan, Jr. |
|            |   |                                         | For      the Entire Board of Directors |
|            |   |                                         |   |
| WITNESS:        |   | EXECUTIVE                                    |
|            |   |                                         |   |
| /s/ Teresa Kuhl |   | By:                                          | /s/ Don D. Jennings |
|            |   |                                         | Don      D. Jennings |

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| FIRST      FEDERAL SAVINGS BANK OF FRANKFORT |
|----------------------------------------------|
|                                         |   |
| By:                                          | /s/ R. Clay Hulette |
|                                         |   |
| Title:                                       | President |
|                                         |   |
| EXECUTIVE                                    |
|                                         |
| /s/ Don D.  Jennings                         |

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