|   | a. | The      term of this Agreement shall commence on the date of this Agreement (the      “Effective Date”) and ending on the third anniversary of the Effective      Date and shall include all extensions of this initial term made pursuant      to this Section 3. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Commencing      on the first anniversary of the Effective Date and continuing on each      anniversary of the Effective Date thereafter, the disinterested members of      the Board may extend the Agreement term for an additional year, so that      the remaining term of the Agreement again becomes thirty-six (36) months,      unless Executive elects not to extend the term of this Agreement by giving      written notice in accordance with Section 18 of this      Agreement.  The Board will review the Agreement and Executive’s      performance annually for purposes of determining whether to extend the      Agreement term and will include the rationale and results of its review in      the minutes of its meeting.  The Board will notify Executive as      soon as possible after its annual review whether it has determined to      extend the Agreement. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | a. | For      his services as Executive Vice President and Chief Operating Officer, the      Bank agrees to pay Executive an annual base salary at the rate of $135,000      per year, payable in accordance with customary payroll      practices. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | During      the term of this Agreement, the Board will review the level of Executive’s      base salary at least annually, based upon factors deemed relevant, in      order to determine Executive’s base salary through the remaining term of      the Agreement. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | a. | Executive      may take vacations and other leave in accordance with applicable policy      for senior executives, or otherwise as approved by the    Board. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | In      addition to paid vacations and other leave, the Board may grant Executive      a leave or leaves of absence, with or without pay, at such time or times      and upon such terms and conditions as the Board, in its discretion, may      determine. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | a. | During      the term of this Agreement, Executive will devote all his business time,      attention, skill, and efforts to the faithful performance of his duties      under this Agreement; provided, however, that from time to time, Executive      may serve on the boards of directors of, and hold any other offices or      positions in, companies or organizations that will not present any      conflict of interest with the Bank or any of its subsidiaries or      affiliates, unfavorably affect the performance of Executive’s duties      pursuant to this Agreement, or violate any applicable statute or      regulation.  Executive will not engage in any business or      activity contrary to the business affairs or interests of the Bank or any      of its subsidiaries or affiliates. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Nothing      contained in this Agreement will prevent or limit Executive’s right to      invest in the capital stock or other securities or interests of any      business dissimilar from that of the Bank, or, solely as a passive,      minority investor, in anybusiness. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | c. | Executive      agrees to maintain the confidentiality of any and all information      concerning the operations or financial status of the Bank and its      affiliates; the names or addresses of any borrowers, depositors and other      customers; any information concerning or obtained from such customers; and      any other information concerning the Bank or its affiliates to which he      may be exposed during the course of his employment.  Executive      further agrees that, unless required by law or specifically permitted by      the Board in writing, he will not disclose to any person or entity, either      during or subsequent to his employment, any of the above-mentioned      information which is not generally known to the public, nor will he use      the information in any way other than for the benefit of the Bank or its      affiliates. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

|   | b. | Retirement.  This      Agreement will terminate upon Executive’s retirement under the retirement      benefit plan or plans in which he participates pursuant to Section 6 of      this Agreement or otherwise. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | i. | The      Board or Executive may terminate Executive’s employment after having      determined Executive has a Disability.  For purposes of this      Agreement, “Disability” means a physical or mental infirmity that impairs      Executive’s ability to substantially perform his duties under this      Agreement and results in Executive becoming eligible for long-term      disability benefits under any long-term disability plans of the Bank (or,      if no such plans exist, that impairs Executive’s ability to substantially      perform his duties under this Agreement for a period of one hundred eighty      (180) consecutive days).  The Board will determine whether or      not Executive is and continues to be permanently disabled for purposes of      this Agreement in good faith, based upon competent medical advice and      other factors that the Board reasonably believes to be      relevant.  As a condition to any benefits, the Board may require      Executive to submit to physical or mental evaluations and tests as the      Board or its medical experts deem reasonably  appropriate. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ii. | In      the event of his Disability, Executive will no longer be obligated to      perform services under this Agreement.  The Bank will pay      Executive, as Disability pay, an amount equal to one hundred percent      (100%) of Executive’s rate of base salary in effect as of the date of his      termination of employment due to Disability. The Bank will make Disability      payments on a monthly basis commencing on the first day of the month      following the effective date of Executive’s termination of employment due      to Disability and ending on the earlier of: (A) the date he returns to      full-time employment in the same capacity as he was employed prior to his      termination for Disability; (B) his death; (C) his attainment of age 65;      or (D) the date this Agreement would have expired had Executive’s      employment not terminated by reason of Disability. The Bank will reduce      Disability payments by the amount of any short- or long-term disability      benefits payable to Executive under any other disability programs      sponsored by the Bank.  In addition, during any period of      Executive’s Disability, the Bank will continue to provide Executive and      his dependents, to the greatest extent possible, with continued coverage      under all benefit plans (including, without limitation, retirement plans      and medical, dental and life insurance plans) in which Executive and/or      his dependents participated prior to his Disability on the same terms as      if he remained actively employed by theBank. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | i. | The      Board may, by written notice to Executive in the form and manner specified      in this paragraph, immediately terminate his employment at any time for      “Cause.”  Executive shall have no right to receive compensation      or other benefits for any period after termination for Cause, except for      already vested benefits.  Termination for Cause shall mean      termination because of, 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; |
|--------|-----|----------------------------------------------------|

|   | (6) | Willful      violation of any law, rule or regulation (other than traffic violations or      similar offenses) or final cease-and-desist order;  or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (7) | Material      breach of any provision of thisAgreement. |
|--------|-----|---------------------------------------------------------|

|   | ii. | Notwithstanding      the foregoing, Executive’s termination for Cause will not become effective      unless the Bank has 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 the Board called and held for the purpose of      finding that, in the good faith opinion of the Board (after reasonable      notice to Executive and an opportunity for Executive to be heard before      the Board with counsel), Executive was guilty of the conduct described      above and specifying the particulars of this  conduct. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | e. | Voluntary Termination      by Executive.  In addition to his other rights to      terminate under this Agreement, Executive may voluntarily terminate      employment during the term of this Agreement upon at least sixty (60) days      prior written notice to the Board. Upon Executive’s voluntary termination,      he will receive only his compensation and vested rights and benefits      through the date of his termination.  Following his voluntary      termination of employment under this Section 10(e), Executive will be      subject to the restrictions set forth in Section 10(g) of this Agreement      for a period of one (1) year from his termination  date. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | f. | Without Cause or With      Good Reason. |
|--------|----|-----------------------------------------|

|   | i. | In      addition to termination pursuant to Sections 10(a) through 10(e), the      Board may, by written notice to Executive, immediately terminate his      employment at any time for a reason other than Cause (a termination      “Without  Cause”) and Executive may, 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 GoodReason”). |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | ii. | Subject      to Section 11 of this Agreement, in the event of termination under this      Section 10(f), Executive will receive his base salary as of his      termination date for the remaining term of the Agreement, with such amount      paid in one lump sum within ten (10) calendar days of his      termination.  Executive will also continue to participate in any      benefit plans of the Bank that provide medical, dental and life insurance      coverage for the remaining term of the Agreement, under terms and      conditions no less favorable than the most favorable terms and conditions      provided to senior executives during the same period.  If the      Bank cannot provide such coverage because Executive is no longer an      employee, the Bank will provide Executive with comparable coverage on an      individual policy basis or the cashequivalent. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | iii. | “Good      Reason” exists if, without Executive’s express written consent, the Bank      materially breaches any of its obligations under this      Agreement.  Without limitation, such a material breach will      occur upon any of the following: |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | A      material reduction in Executive’s responsibilities or authority in      connection with his employment with the Bank (other than a reduction      resulting from the change in Executive’s position described in Section 1      of this Agreement); |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (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 (excluding any change      in duties resulting from the change in Executive’s position described in      Section 1 of this Agreement); |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Failure      of Executive to be nominated or renominated to the Board to the extent      Executive is a Board member prior to the Effective  Date; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | A      reduction in salary or benefits contrary to the terms of this Agreement      (other than a reduction resulting from the change in Executive’s position      described in Sections 1 and 4 of this Agreement), or, following a Change      in Control as defined in Section 11 of this Agreement, any reduction in      salary or material reduction in benefits below the amounts Executive was      entitled to receive prior to the Change in  Control; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | Termination      of incentive and benefit plans, programs or arrangements, or reduction of      Executive’s participation, that is not applicable to other similarly      situated participants and to such an extent as to materially reduce their      aggregate value below their aggregate value as of the Effective      Date; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (6) | A      requirement that Executive relocate his principal business office or his      principal place of residence outside of the area consisting of a      thirty-five (35) mile radius from the current main office and any branch      of the Bank or the Bank, or the assignment to Executive of duties that      would reasonably require such a relocation;or |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | iv. | Notwithstanding      the foregoing, a reduction or elimination of Executive’s benefits under      one or more benefit plans, programs or arrangements maintained as part of      a good faith, overall reduction or elimination of such plans or benefits,      applicable to all participants in a manner that does not discriminate      against Executive (except as such discrimination may be necessary to      comply with law), will not constitute an event of Good Reason or a      material breach of this Agreement, provided that benefits of the same type      or to the same general extent as those offered under such plans prior to      the reduction or elimination are not available to other officers of the      Bank or any affiliate under a plan or plans in or under which Executive is      not entitled to participate. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 10(e) or 10(f): |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | i. | Executive’s      obligations under Section 9(c) of this Agreement will continue in effect;      and |
|--------|----|-----------------------------------------------------------------------------------------------------------|

|   | ii. | During      the period ending on the first anniversary of such termination, Executive      will not serve as an officer, director or employee of any bank holding      company, bank, savings association, savings and loan holding company,      mortgage company or other financial institution that offers products or      services competing with those offered by the Bank or their affiliates from      any office within thirty-five (35) miles from the main office or any      branch of the Bank or their affiliates and, further, Executive will not      interfere with the relationship of the Bank or their  affiliates      and any of their employees, agents, or  representatives. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | h. | To      the extent Executive is a member of the Board on the date of termination      of employment, Executive will resign from the Board immediately following      such termination of employment. Executive will be obligated to tender this      resignation regardless of the method or manner of termination, and such      resignation will not be conditioned upon any event or    payment. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | a. | For      purposes of this Agreement, a “Change in Control” means any of the      following events: |
|--------|----|----------------------------------------------------------------------------------------------------------------|

|   | i. | Merger: The      Bank merges into or consolidates with another entity, or merges another      corporation into the Bank, 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      Bank immediately before the merger or  consolidation; |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ii. | Acquisition of      Significant Share Ownership:  There is filed, or is      required to be filed, a report on Schedule 13D or another form or schedule      (other than Schedule 13G) required under Sections 13(d) or 14(d) of the      Securities Exchange Act of 1934, as amended, if the schedule discloses      that the filing person or persons acting in concert has or have become the      beneficial owner of 25% or more of a class of the Bank’s voting      securities, but this clause (ii) shall not apply to beneficial ownership      of Bank voting shares held in a fiduciary capacity by an entity of which      the Bank directly or indirectly beneficially owns 50% or more of its      outstanding voting securities; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | iii. | Change in Board      Composition:  During any period of two consecutive years,      individuals who constitute the Bank’s Board of Directors at the beginning      of the two-year period cease for any reason to constitute at least a      majority of the Bank’s Board of Directors; provided, however, that for      purposes of this clause (iii), each director who is first elected by the      board (or first nominated by the board for election by the members) by a      vote of at least two-thirds (2/3) of the directors who were directors at      the beginning of the two-year period shall be deemed to have also been a      director at the beginning of such period;or |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

|   | Notwithstanding      anything in this Agreement to the contrary, in no event shall the      conversion of the Bank’s mutual holding company parent, Delanco MHC, from      mutual to stock form, i.e., a “second step conversion,” constitute a      “Change in Control” for purposes of this  Agreement. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Termination.  If      within the period ending one year after a Change in Control, (i) the Bank      terminates Executive’s employment without Cause, or (ii) Executive      voluntarily terminates his employment With Good Reason, the Bank will,      within ten calendar days of the termination of Executive’s employment,      make a lump-sum cash payment to him equal to three times Executive’s      average taxable compensation (as reported on Form W-2) over the five (5)      most recently completed calendar years (or years of employment, annualized      for partial years of employment, if less than five), ending with the year      immediately preceding the effective date of the Change in Control. The      cash payment made under this Section 11(b) shall be made in lieu of any      payment also required under Section 10(f) of this Agreement because of      Executive’s termination of employment; however, Executive’s rights under      Section 10(f) are not otherwise affected by this Section 11. Following      termination of employment, executive will also continue to participate in      any benefit plans of the Bank that provide medical, dental and life      insurance coverage upon terms no less favorable than the most favorable      terms provided to senior executives.  If the Bank cannot provide      such coverage because Executive is no longer an employee, the Bank will      provide Executive with comparable coverage on an individual basis or the      cash equivalent.  The medical, dental and life insurance      coverage provided under this Section 11(b) shall cease upon the earlier      of:  (i) Executive’s death; (ii) Executive’s employment by      another employer other than one of which he is the majority owner; or      (iii) thirty-six (36) months after his termination of      employment. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c. | The      provisions of Section 11 and Sections 13 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. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | 12. | Indemnification and      Liability Insurance. |
|--------|-----|-----------------------------------------------|

|   | a. | Indemnification.  The      Bank agrees to indemnify Executive (and his heirs, executors, and      administrators), and to advance expenses related to this indemnification,      to the fullest extent permitted under applicable law and regulations      against any and all expenses and liabilities that Executive reasonably      incurs in connection with or arising out of any action, suit, or      proceeding in which he may be involved by reason of his service as an      officer or director of the Bank or any of its subsidiaries or affiliates      (whether or not he continues to be an officer or director at the time of      incurring any such expenses or liabilities).  Covered expenses      and liabilities include, but are not limited to, judgments, court costs,      and attorneys’ fees and the costs of reasonable settlements, subject to      Board approval, if the action is brought against Executive in his capacity      as an officer or director of the Bank or any of its subsidiaries or      affiliates. Indemnification for expenses will not extend to matters      related to Executive’s termination for Cause.  Notwithstanding      anything in this Section 12(a) to the contrary, the Bank will not be      required to provide indemnification prohibited by applicable law or      regulation.  The obligations of this Section 12 will survive the      term of this Agreement by a period of six (6)  years. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Insurance.  During      the period for which the Bank must indemnify Executive, the Bank will      provide Executive (and his heirs, executors, and administrators) with      coverage under a directors’ and officers’ liability policy, at the Bank’s      expense, that is at least equivalent to the coverage provided to directors      and senior executives of the Bank. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | 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 not assign or delegate his rights or duties under this      Agreement without first obtaining the written consent of the      Bank. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ATTEST:                         |   | DELANCO      FEDERAL SAVINGS BANK |
|---------------------------------|--------|-----------------------------------|
|                            |   |                              |
| /s/      Thomas J. Coleman, III |   | By:                               | /s/      John W. Seiber |
| Witness                         |   |                              | For      the Entire Board of Directors |
|                            |   |                              |
|                            |   |                              |
| WITNESS:                        |   | EXECUTIVE                         |
|                            |   |                              |
| /s/      Thomas J. Coleman, III |   | By:                               | /s/      James E. Igo |
|                            |   |                              | James      E.Igo |

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