| 1)   | Definitions. |
|----------------|--------------|

| a)   | Average Annual      Compensation.  The Executive’s “Average Annual      Compensation” for purposes of this Agreement shall be deemed to mean the      average Base Salary, cash bonuses, vested amounts allocated to the      Executive under the ESOP and the Corporation’s vested matching      contributions made to the Executive’s account under the Corporation’s      401(k) plan for the three fiscal years preceding the Executive’s Date of      Termination. |
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| b)   | Base      Salary.  “Base Salary” shall have the meaning set forth      in Section 4(a) hereof. |
|----------------|----------------------------------------------------------------------------------------------------------------------|

| c)   | Bank      Agreement.  “Bank Agreement” means the employment      agreement between the Bank and the Executive dated of even date      herewith. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| d)   | Cause. Termination of      the Executive’s employment for “Cause” shall mean termination by the      Corporation because of any of the following by the    Executive: |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | i) | any      incompetence or intentional failure by the Executive in performing his      services or carrying out his duties and responsibilities under this      Agreement; or |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ii) | any      dishonesty, fraud, theft or embezzlement by the Executive;    or |
|--------|-----|---------------------------------------------------------------------------|

|   | iii) | any      willful misconduct or breach of fiduciary duty involving personal profit      by the Executive; or |
|--------|------|-------------------------------------------------------------------------------------------------------------|

|   | iv) | any      willful or knowing violation by the Executive of any law, statute, rule,      regulation or government requirement (other than traffic violations or      similar offenses) or any final cease and desist order;  or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | v) | any      material and intentional noncompliance by the Executive with any provision      of any employee handbook, code of conduct or ethics, corporate governance      guidelines or any rule, policy or procedure of either of the Employers as      are currently in effect or as may hereafter be in effect from time to      time; or |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | vi) | any      material breach by the Executive of any provision of this Agreement;      or |
|--------|-----|---------------------------------------------------------------------------------------|

|   | vii) | any      termination of the Executive’s employment with the  Bank. |
|--------|------|--------------------------------------------------------------------------|

| e)   | Change in      Control.  “Change in Control” means the occurrence of any      of the following relating to the Corporation:  (i) an event that      would be required to be reported in response to Item 5.01 of Form 8-K or      Item 6(e) of Schedule 14A of Regulation 14A pursuant to the Securities and      Exchange Act of 1934 Act, as amended (“1934 Act”), or any successor      thereto, whether or not any class of securities of the Corporation is      registered under the 1934 Act; (ii) any “person” is or becomes the      “beneficial owner” (as defined in Rule 13d-3 under the 1934 Act), directly      or indirectly, of securities of the Corporation representing 20% or more      of the combined voting power of the Corporation’s then outstanding      securities; or (iii) during any period of thirty-six consecutive months,      individuals who at the beginning of such period constitute the Board of      Directors of the Corporation cease for any reason to constitute at least a      majority thereof unless the election, or the nomination for election by      stockholders, of each new director was approved by a vote of at least      two-thirds of the directors then still in office who were directors at the      beginning of the period and, in such case, each new director so approved      will be considered for purposes of this section to have been a director at      the beginning of such period. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  i) | For      purposes of the definition of “Change in Control,” a Person or group of      Persons does not include the CFS Bancorp, Inc. Employee Stock Ownership      Plan Trust which forms a part of the CFS Bancorp, Inc. Employee Stock      Ownership Plan (the “ESOP”), or any other employee benefit plan,      subsidiary or affiliate of the Corporation, and the outstanding shares of      common stock of the Corporation, on a fully diluted basis, include all      shares owned by the ESOP, whether allocated or unallocated to the accounts      of participants thereunder. |
|----------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  ii) | For      purposes of this Agreement (including without limitation the definition of      “Change in Control”), the term “Person” means any natural person,      proprietorship, partnership, |
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----

| f)   | Code. “Code” shall mean      the Internal Revenue Code of 1986, asamended. |
|----------------|----------------------------------------------------------------------------------------|

| g)   | Date of      Termination.  “Date of Termination” shall mean (i) if the      Executive’s employment is terminated for Cause or for Disability, the date      specified in the Notice of Termination, (ii) if the Executive’s employment      is terminated for any other reason (except in the case of death), the date      on which a Notice of Termination is given or as specified in such Notice,      and (iii) if the Executive dies during his employment hereunder, the date      of his death. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| h)   | Disability.  Termination      by the Corporation of the Executive’s employment based on “Disability”      shall mean termination because of any physical or mental impairment,      incapacity or condition which qualifies the Executive for disability      benefits under the applicable long-term disability plan or policy      maintained by the Employers or any subsidiary or, if no such plan or      policy applies, which would qualify the Executive for disability benefits      under the Federal Social SecuritySystem. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| i)   | Good      Reason.  Termination by the Executive of the Executive’s      employment for “Good Reason” shall mean termination by the Executive      within twelve months following a Change in Control of the Corporation      based on: |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  (i) | Without      the Executive’s express written consent, the failure to elect or to      re-elect or to appoint or to re-appoint the Executive to the offices of      Executive Vice President and Chief Financial Officer of the Employers or a      material adverse change made by the Employers in the Executive’s      functions, duties or responsibilities as Executive Vice President and      Chief Financial Officer of the Employers as such functions, duties or      responsibilities exist immediately prior to the effective time of the      Change in Control; |
|-----------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  (ii) | Without      the Executive’s express written consent, a reduction by either of the      Employers in the Executive’s Base Salary as the same may be increased from      time to time or, except to the extent permitted by Section 4(b) hereof, a      reduction in the package of employee benefits provided to the Executive      taken as a whole; |
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|                  (iii) | The      principal executive office of the Bank is relocated more than 50 miles      from Munster, Indiana or, without the Executive’s express written consent,      either of the Employers require the Executive to be based anywhere other      than where the Bank’s principal executive office is located or has been      relocated as provided above, except for required travel on business of the      Employers; |
|-------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  (iv) | Any      purported termination of the Executive’s employment for Disability or      Retirement which is not effected pursuant to a Notice of Termination      satisfying the requirements of paragraph (l) below;  or |
|------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  (v) | The      failure by the Corporation to obtain the assumption of and agreement to      perform this Agreement by anysuccessor. |
|-----------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------|

----

|   | The      Executive must notify the Corporation in writing within ninety (90) days      of the initial existence of the circumstances giving rise to a termination      of the Executive’s employment hereunder for Good Reason.  The      Corporation shall then have thirty (30) days following the effectiveness      of such notice during which it may cure such circumstances and, if so      cured, shall not be required to make any severance payments pursuant to      Section 6(d) hereof. |
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| j)   | IRS. “IRS” shall mean      the Internal Revenue Service. |
|----------------|----------------------------------------------------------------------|

| k)   | Key      Employee.  “Key Employee” means an employee who      is: |
|----------------|-----------------------------------------------------------------------------------------|

|                      iii) | A      beneficial owner 1% or more of the outstanding securities of the      Corporation and has an annual compensation greater than      $150,000. |
|------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| l)   | Notice of      Termination.  Any purported termination of the      Executive’s employment by the Corporation for any reason, including      without limitation with or without Cause or upon the occurrence of a      Disability, or by the Executive for any reason, including without      limitation with or without Good Reason or upon Retirement, shall be      communicated by written “Notice of Termination” to the other party      hereto.  For purposes of this Agreement, a “Notice of      Termination” shall mean a dated notice which (i) indicates the specific      termination provision in this Agreement relied upon, (ii) sets forth in      reasonable detail the facts and circumstances claimed to provide a basis      for termination of the Executive’s employment under the provision so      indicated, (iii) specifies a Date of Termination, which shall be not less      than thirty (30) nor more than ninety (90) days after such Notice of      Termination is given, except in the case of the Corporation’s termination      of the Executive’s employment for Cause, which shall be effective      immediately; and (iv) is given in the manner specified in Section 11      hereof. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| m)   | Retirement.  “Retirement”      shall mean voluntary termination by the Executive after the Executive      attains the age 55, with at least five years of active      service. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| n)   | Separation from      Service.  “Separation from Service” means the date of the      Executive’s death or Retirement or the date on which the Executive      otherwise experiences a Termination of Employment with the Corporation;      provided, however, a Separation from Service does not occur if the      Executive is on military leave, sick leave or other bona fide leave of      absence if the period of such leave does not exceed six (6) months or, if      the leave is for a longer period, so long as the Executive’s right to      reemployment with the Corporation is provided either by statute or by      contract.  For purposes of this paragraph (n), a leave of      absence constitutes a |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| o)   | Specified      Employee.  “Specified Employee” means an employee who is      a “Key Employee” if the Corporation’s stock is publicly traded on an      established securities market.  An employee shall be a Specified      Employee for the twelve-month period beginning on the April 1st      following any calendar year in which the employee is a Key      Employee. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2)   | Term      of Employment. |
|----------------|--------------------------|

| a)   | The      Corporation hereby employs the Executive as its Executive Vice President      and Chief Financial Officer, and the Executive hereby accepts such      employment and agrees to render such services to, and carry out such      duties and responsibilities for, the Corporation, on the terms and      conditions set forth in this Agreement.  The term of this      Agreement shall be a period of eighteen months commencing as of the date      hereof (the “Commencement Date”), subject to earlier termination as      provided herein.  Beginning on the day following the      Commencement Date, and on each day thereafter, the term of this Agreement      shall be extended for a period of one day in addition to the      then-remaining term, provided that the Corporation has not given notice to      the Executive in writing at least sixty (60) days prior to such day that      the term of this Agreement shall not be extended      further.  Reference herein to the term of this Agreement shall      refer to both such initial term and any extended terms.  As part      of the review by the Board of Directors of the Corporation on at least an      annual basis whether to permit extensions of the term of this Agreement,      the Board of Directors shall consider all relevant factors, including      without limitation the Executive’s performance hereunder and the input of      the President of the Corporation, and shall determine whether to provide      notice to the Executive that the term of this Agreement shall not be      further extended. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b)   | During      the term of this Agreement, the Executive shall render such executive      services and carry out such duties and responsibilities consistent with      his titles and as may be assigned to him from time to time by the      President of the Corporation. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3)   | Loyalty,      Confidentiality andNon-Competition. |
|----------------|---------------------------------------------------|

----

| a)   | The      Executive shall devote his full time and attention and his best efforts to      the performance of his duties and responsibilities under this      Agreement.  During the term of this Agreement, the Executive      shall not, at any time or place, either directly or indirectly, engage in      any business or activity in competition with the business, affairs or      interests of the Corporation or any of its subsidiaries or affiliates or      be a director, officer, employee or consultant to any bank holding      company, savings and loan holding company, bank, savings and loan      association, credit union, thrift, savings bank, financial services      provider or similar institution, wherever  located. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b)   | For      a period of eighteen months from the Date of Termination relating to a      termination by the Corporation of the Executive’s employment hereunder for      Cause or a Disability or a termination by the Executive of his employment      hereunder upon Retirement or without Good Reason, the Executive shall not,      at any time or place, either directly or indirectly engage in any business      or activity in competition with the business, affairs or interests of the      Corporation or any of its subsidiaries or affiliates or be a director,      officer, employee or consultant to any bank holding company, savings and      loan holding company, bank, savings and loan association, credit union,      thrift, savings bank, financial services provider or similar institution      within a fifty (50) mile radius from any present or future office of      either of the Employers or any of their subsidiaries or      affiliates. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c)   | For      purposes of this Agreement, directly or indirectly engaging in any      business or activity in competition with the business, affairs or      interests of the Corporation or any of its subsidiaries or affiliates      includes, but is not limited to, serving or acting as an owner, partner,      member, agent, beneficiary, employee, officer, director or consultant of      any Person engaged in any banking, lending, financial services or other      business, operation or activity in which the Corporation or any of its      subsidiaries or affiliates is engaged or is actively developing or      pursuing on the Date of Termination; except that nothing herein contained      shall be deemed to prevent or limit the right of the Executive to invest      any of his funds in the capital stock or other securities of any such      Person whose stock or securities are publicly owned or are regularly      traded on any national exchange so long as the Executive is not the      beneficial owner of more than 1% of the outstanding capital stock or      securities of such Person, nor shall anything herein contained be deemed      to prevent or limit the right of the Executive to invest any of his funds      in real estate. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| d)   | All      information relating to business of the Employers or any of their      subsidiaries or affiliates including, but not limited to, that business      obtained or serviced by the Executive, all customer lists, customer      information, contact lists, asset, liability, loan, deposit and investment      information, financial records or information, instruments, documents,      papers, and other material used in connection with, and all trade secrets,      estimates, projections, goals, strategies, techniques relating to, such      business, shall be the exclusive property of the Employers or the      subsidiary or affiliate.  The Executive shall maintain the      confidentiality of all such information and material that is confidential,      proprietary or not publicly available (other than through a breach of this      Agreement by the Executive or any other impermissible disclosure); none of      it shall be copied, reproduced, duplicated or disclosed without the      express written permission of the Employers (other than in connection with      the performance of the Executive’s services hereunder), and the Executive      shall return all such information and materials to the Employers upon      their request or upon termination of employment.  The Executive      also agrees that he shall not utilize such information or materials,      either directly or |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| e)   | The      Executive agrees that, during his employment, and for a period of eighteen      months following the Date of Termination of the Executive’s employment      hereunder for Cause, without Good Reason, upon Retirement or upon the      occurrence of a Disability, theExecutive: |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  i) | shall      not solicit any of the Employers’ past or current customers or clients for      the benefit of anyone other than the Employers or their subsidiaries or      affiliates; |
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|                  ii) | shall      not divulge the names of any of the Employers’ past or then current      customers to any other Person; and |
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|                  iii) | shall      not, either directly or indirectly, induce or solicit any person to leave      the employ of either of theEmployers. |
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| f)   | The      provisions of Sections 3(b), 3(c) and 3(e) hereof shall be construed      independent of any other provision of this Agreement and shall survive any      termination of this Agreement.  The existence of any claim or      cause of action of the Executive against the Corporation, whether      predicated on this Agreement or otherwise, shall not constitute a defense      to the enforcement by the Corporation of Sections 3(b), 3(c) and 3(e)      hereof. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| g)   | The      restrictions and covenants contained in this Section shall be deemed not      to run during all periods of noncompliance, the intention of the parties      hereto being to have such restrictions and covenants apply during the full      periods specified herein.  The Corporation and the Executive      understand, acknowledge and agree that the restrictions and covenants      contained in this Section are reasonable in view of the Executive’s      position at the Corporation, the competitive and confidential nature of      the information of which the Executive has or will have knowledge and the      competitive and the nature of the business in which the Corporation and      its subsidiaries and affiliates are or may be  engaged. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4)   | Compensation      and Benefits. |
|----------------|---------------------------------|

| a)   | The      Employers shall collectively compensate and pay the Executive for his      services during the term of this Agreement at an aggregate minimum base      salary of $186,000 per year (“Base Salary”), which may be increased from      time to time in such amounts as may be determined by the Boards of      Directors of the Employers and may not be decreased without the      Executive’s express written consent.  In addition to his Base      Salary, the Executive shall be entitled to receive during the term of this      Agreement such bonus payments as may be determined by the President of the      Corporation. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b)   | During      the term of this Agreement, the Executive shall be entitled to participate      in and receive the benefits of any pension, retirement, profit sharing,      equity based compensation, employee stock ownership or other similar plans      made available to employees and executives of the Employers, to the extent      commensurate with his position with the Employers, in accordance with the      terms of the applicable plans and as fixed by the Boards of Directors of      the Employers. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| c)   | During      the term of this Agreement, the Executive shall be entitled to paid annual      vacation in accordance with the policies as established from time to time      by the Boards of Directors of the Employers.  The Executive      shall not be entitled to receive any additional compensation from the      Employers for failure to take a vacation, nor shall the Executive be able      to accumulate unused vacation time from one year to the next, except to      the extent authorized by the President of the  Corporation. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| d)   | In      the event the Executive’s employment is terminated due to Disability,      Retirement or death, and provided the Executive is not otherwise receiving      substantially similar benefits from another employer, consultant or      otherwise, the Employers shall provide, at their cost and for the      remaining term of this Agreement, all existing life and medical insurance      coverage for the Executive (other than in the case of death) and his      spouse at substantially similar levels of coverage and benefits as the      Employers provide at such time for their then existing senior      executives. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| e)   | The      Executive’s Base Salary, compensation, benefits and expenses shall be paid      by and allocated between the Corporation and the Bank in the same      proportion as the time and services actually expended by the Executive on      behalf of each respective Employer. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| f)   | During      the term of this Agreement, the Employers shall provide suitable office      space, desk, chairs, filing cabinets, telephones and other usual and      customary office furniture, fixtures and equipment adequate for the      performance of the duties and responsibilities assigned to the Executive      hereunder. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| g)   | During      the term of this Agreement, the Employers shall provide to Executive the      use of an automobile of Executive’s choice with an average annual lease      cost not to exceed $10,000 per year.  The Employers agree to      replace the automobile with a new one at Executive’s request no more often      than once every two years.  Either of the Employers shall pay      all automobile operating expenses incurred by the Executive in the      performance of Executive’s duties hereunder.  Either of the      Employers shall procure and maintain in force an automobile |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| h)   | During      the term of this Agreement, the Employers shall provide to the Executive,      at the Employer’s cost, all perquisites which all other senior executives      of the Corporation are generally entitled to receive; provided, however,      that the Executive understands and agrees that the Chief Executive Officer      of the Corporation may receive perquisites that are different from those      provided to the Executive or other senior executives of the      Corporation. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5)   | Expenses.  The      Employers shall reimburse the Executive or otherwise provide for or pay      for all reasonable expenses incurred by the Executive in furtherance of or      in connection with the business of the Employers, including, but not by      way of limitation, travel expenses and all reasonable entertainment      expenses (whether incurred at the Executive’s residence, while traveling      or otherwise), subject to such reasonable documentation and other      limitations and requirements as may be established by the Boards of      Directors of the Employers.  If such expenses are paid in the      first instance by the Executive, the Employers shall reimburse the      Executive therefor.  Any such reimbursement of expenses provided      in this Section 5 shall be made no later than December 31 of the year      following the year in which the expense was  incurred. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6)   | Termination. |
|----------------|--------------|

| a)   | The      Corporation shall have the right at any time, upon prior Notice of      Termination, to terminate the Executive’s employment hereunder for any      reason, including without limitation termination with or without Cause,      upon a Disability or the election of the Corporation not to extend the      term of this Agreement.  The Executive shall have the right at      any time, upon prior Notice of Termination, to terminate his employment      hereunder for any reason, including without limitation with or without      Good Reason or upon Retirement. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b)   | In      the event that (i) the Executive’s employment hereunder is terminated by      the Corporation for Cause or upon the election of the Corporation not to      extend the term of this Agreement or (ii) the Executive terminates his      employment hereunder without Good Reason, the Executive shall in each such      case have no right pursuant to this Agreement to any severance payments,      compensation or other benefits for any period after the applicable Date of      Termination. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c)   | In      the event that the Executive’s employment hereunder is terminated as a      result of a Disability, Retirement or the Executive’s death during the      term of this Agreement, the Executive shall have no right pursuant to this      Agreement to severance payments, compensation or other benefits for any      period after the applicable Date of Termination, except as provided for in      Section 4(d) hereof. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| d)   | In      the event that (i) the Executive’s employment hereunder is terminated by      the Corporation without Cause or (ii) the Executive’s employment hereunder      is terminated by the Executive (y) due to a material breach of this      Agreement by the Corporation, which breach has not been cured within      fifteen (15) days after a written notice of non-compliance has been given      by the Executive to the Employers, or (z) for Good Reason, then the      Corporation shall so long as the Executive does not breach this Agreement      following the Date of Termination: |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| i)   | pay      to the Executive, a cash severance amount equal to 150% of that portion of      the Executive’s Average Annual Compensation paid by the Corporation, in      two equal      installments, with the first installment to be paid on the first business      day of the month following the Executive’s Date of Termination and the      second installment to be paid on the first anniversary of the Date of      Termination; and |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ii)   | maintain      and provide for a period ending at the earlier of (A) the expiration of      the remaining term of employment pursuant hereto prior to the Notice of      Termination or (B) the date of the Executive’s employment by or      affiliation with another employer, consultant or Person (provided that the      Executive is entitled under the terms of such employment or affiliation to      benefits substantially similar to those described in this subparagraph, at      the same or lesser cost to the Executive as under the Corporation’s plans,      programs and arrangements on the Date of Termination), the Executive’s      continued participation in all group insurance, life insurance, health and      accident insurance, disability insurance and other welfare benefit plans,      programs and arrangements offered by the Corporation in which the      Executive was entitled to participate immediately prior to the Date of      Termination (and excluding (x) Base Salary, bonuses and other items      of compensation included in Average Annual Compensation,      (y) incentive compensation, pension or other retirement, profit      sharing, equity based compensation, employee stock ownership or other      similar plans, programs or arrangements of the Corporation, and      (z) perquisites and any vehicle provided by the Corporation),      provided that in the event that the Executive’s participation in any such      plan, program or arrangement as provided in this subparagraph is barred,      or during such period any such plan, program or arrangement is      discontinued or the benefits thereunder are materially reduced, the      Corporation shall arrange to provide the Executive with benefits      substantially similar to those which the Executive was entitled to receive      under such plans, programs and arrangements immediately prior to the Date      of Termination. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| e)   | If      at the time of the Executive’s Separation from Service, for any reason      other than death, the Executive meets the definition of a Specified      Employee, payment of all amounts under subsections 6(d)(i), 6(d)(ii) and      7(a) shall be suspended for six (6) months following the Executive’s      Separation from Service.  In such event, the first installment      shall be paid on the first day following the end of the six-month      suspension period.  The second installment shall be paid no      later than January 15th      of the calendar year following the year in which the first installment was      paid.  If the Executive incurs a Separation from Service due to      death, regardless of whether the Executive meets the definition of a      Specified Employee, payment of his benefit shall not be suspended;      provided, however, that the six-month suspension period shall not apply to      the provision of any group insurance, life insurance, health and accident      insurance or disability insurance under subsection    6(d)(ii). |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| f)   | Upon      any termination of the Executive’s employment hereunder, the Executive      covenants and agrees (i) to return promptly to the Corporation, at the      Corporation’s headquarters, all confidential information or materials that      are still in the Executive’s possession or control on his last day of      employment with the Corporation or the location of which the Employee      knows (including, but not limited to, any confidential information or      materials contained on the Executive’s personal data assistant or personal      or home computer), and (ii) to return promptly to the Corporation, at the      Corporation’s headquarters, all vehicles, equipment, computers, credit      cards, keys, access cards, passwords and other property of the Corporation      that are still in the Executive’s possession or control on his last day of      employment or the |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 7)   | Payment      of Additional Benefits under Certain  Circumstances. |
|----------------|-------------------------------------------------------------------|

| a)   | If      the payments and benefits pursuant to Section 6 hereof, either alone or      together with other payments and benefits which the Executive has the      right to receive from the Employers (including, without limitation, the      payments and benefits which the Executive would have the right to receive      from the Bank pursuant to Section 6 of the Bank Agreement, before      giving effect to any reduction in such amounts pursuant to Section 7      of the Bank Agreement), would constitute a “parachute payment” as defined      in Section 280G(b)(2) of the Code (the “Initial Parachute Payment,” which      includes the amounts paid pursuant to clause (i) below), then the      Corporation shall pay to the Executive, a cash amount in two equal      installments, with the first installment to be paid on the first business      day of the month following the Date of      Termination and the second installment to be paid on the first anniversary      of the Date of Termination.  The cash amount shall be equal to      the sum of the following: |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  i) | the      amount by which the payments and benefits that would have otherwise been      paid by the Bank to the Executive pursuant to Section 6 of the Bank      Agreement are reduced by the provisions of Section 7 of the Bank      Agreement; |
|----------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  ii) | twenty      percent (or such other percentage equal to the tax rate imposed by      Section 4999 of the Code) of the amount by which the Initial      Parachute Payment exceeds the Executive’s “base amount” from the      Employers, as defined in Section 280G(b)(3) of the Code, with the      difference between the Initial Parachute Payment and the Executive’s base      amount being hereinafter referred to as the “Initial Excess Parachute      Payment”; and |
|-----------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  iii) | such      additional amount (tax allowance) as may be necessary to compensate the      Executive for the payment by the Executive of state and federal income and      excise taxes on the payment provided under clause (ii) above and on any      payments under this clause (iii).  In computing such tax      allowance, the payment to be made under clause (ii) above shall be      multiplied by the “gross up percentage” (“GUP”).  The GUP shall      be determined as follows: |
|------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| iv)   | Tax      Rate |
|-----------------|---------------|

| v)   | Notwithstanding      the foregoing, if it shall subsequently be determined in a final judicial      determination or a final administrative settlement to which the Executive      is a party that the actual excess parachute payment as defined in Section      280G(b)(1) of the Code is different from the Initial Excess Parachute      Payment (such different amount being hereafter referred to as the      “Determinative Excess Parachute Payment”), then the Corporation’s      independent tax counsel or accountants shall determine the amount (the      “Adjustment Amount”) which either the Executive must pay to the      Corporation or the Corporation must pay to the Executive in |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| b)   | In      each calendar year that the Executive receives payments of benefits under      this Section 7, the Executive shall report on his state and federal      income tax returns such information as is consistent with the      determination made by the independent tax counsel or accountants of the      Corporation as described above.  The Corporation shall indemnify      and hold the Executive harmless from any and all losses, costs and      expenses (including without limitation, reasonable attorneys’ fees,      interest, fines and penalties) which the Executive incurs as a result of      so reporting such information.  The Executive shall promptly      notify the Corporation in writing whenever the Executive receives notice      of the institution of a judicial or administrative proceeding, formal or      informal, in which the federal tax treatment under Section 4999 of the      Code of any amount paid or payable under this Section 7 is being      reviewed or is in dispute.  The Corporation shall assume      control, at its expense, over all legal and accounting matters pertaining      to such federal tax treatment (except to the extent necessary or      appropriate for the Executive to resolve any such proceeding with respect      to any matter unrelated to amounts paid or payable pursuant to this      Section) and the Executive shall cooperate fully with the Corporation in      any such proceeding.  The Executive shall not enter into any      compromise or settlement or otherwise prejudice any rights the Corporation      may have in connection therewith without the prior consent of the      Corporation. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8)   | Mitigation;      Exclusivity of Benefits. |
|----------------|-------------------------------------------|

| a)   | The      Executive shall not be required to mitigate the amount of any benefits      hereunder by seeking other employment or otherwise, nor shall the amount      of any such benefits be reduced by any compensation earned by the      Executive as a result of employment by another employer after the Date of      Termination or otherwise so long as the Executive has not breached this      Agreement.  In the event of any breach of this Agreement by the      Executive following the Date of Termination, the Executive shall      immediately repay to the Corporation all severance payments paid to him      under Section 6 hereof and all amounts paid to him under Section 7 hereof,      plus interest at the rate of 10% per annum from the date of such breach      until all such severance payments and other amounts have been repaid in      full to the Corporation. |
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| b)   | The      specific arrangements referred to herein are not intended to exclude any      other benefits which may be available to the Executive upon a termination      of employment with the Employers pursuant to employee benefit plans of the      Employers or otherwise. |
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| 9)   | Withholding.  All      payments required to be made by the Corporation hereunder to the Executive      shall be subject to the withholding of such amounts, if any, relating to      taxes and other payroll deductions as the Corporation may reasonably      determine should be withheld pursuant to any applicable law or      regulation. |
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| 10)   | Assignability.  The      Corporation may, without the consent of the Executive, assign this      Agreement and its rights and obligations hereunder in whole, but not in      part, to any corporation, bank or other Person with or into which the      Corporation may hereafter merge or consolidate or to which the Corporation      may transfer all or substantially all of its assets, if in any such case      such corporation, bank or other Person shall by operation of law or      expressly in writing assume all obligations of the Corporation hereunder      as fully as if it had been originally made a party hereto, but may not      otherwise assign this Agreement or its rights and obligations      hereunder.  The Executive may not assign or transfer this      Agreement or any rights or obligations  hereunder. |
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| 11)   | Notice.  For      the purposes of this Agreement, notices and all other communications      provided for in this Agreement shall be in writing and shall be deemed to      have been duly given if (i) delivered by hand; (ii) sent by certified      United States Mail, return receipt requested, first class postage      pre-paid; (iii) sent by overnight delivery service; or (iv) sent by      facsimile transmission if such fax is confirmed immediately thereafter by      also mailing a copy of such notice or other communication by regular (not      certified or registered) United States Mail, first class postage pre-paid,      as follows: |
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| a)   | To      the Corporation:      CFS Bancorp,      Inc. |
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| b)   | To      the      Bank:                Citizens      Financial Bank |
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| c)   | To      the      Executive:          Charles      V. Cole |
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|   | or      to such other address or facsimile number as either party hereto may have      furnished to the other in writing in accordance herewith.  The      Executive shall promptly provide any changes to his address, telephone      number and facsimile number to theCorporation. |
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|   | All      such notices and other communications shall be effective (i) if delivered      by hand, when delivered; (ii) if sent by mail in the manner provided      herein, two (2) business days after deposit with the United States Postal      Service; (iii) if sent by overnight delivery service, on the next business      day after deposit with such service; or (iv) if sent by facsimile      transmission, on the date indicated on the fax confirmation page if such      fax also is confirmed by regular (not certified or registered) United      States mail. |
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| 12)   | Amendment;      Waiver.  No provisions of this Agreement may be amended,      modified, waived or discharged unless such amendment, modification, waiver      or discharge is agreed to in writing and signed by the Executive and such      officer or officers as may be specifically designated by the Board |
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| 13)   | Governing Law;      Venue.  The validity, interpretation, construction and      performance of this Agreement shall be governed by the laws of the United      States where applicable and otherwise by the substantive laws of the State      of Indiana.  Any claim, demand or action relating to this      Agreement shall be brought only in a state court located in Porter County,      Indiana.  In connection with the foregoing, the parties hereto      irrevocably consent to the jurisdiction and venue of such court and      expressly waive any claims, defenses or objections of lack of jurisdiction      of or proper or preferred venue by suchcourt. |
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| 14)   | Nature of      Obligations.  Nothing contained herein shall create or      require the Corporation to create a trust of any kind to fund any benefits      which may be payable hereunder, and to the extent that the Executive      acquires a right to receive benefits from the Corporation hereunder, such      right shall be no greater than the right of any unsecured general creditor      of the Corporation. |
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| 15)   | Headings.  The      section headings contained in this Agreement are for reference purposes      only and shall not affect in any way the meaning or interpretation of this      Agreement. |
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| 16)   | Validity.  The      invalidity or unenforceability of any provision of this Agreement shall      not affect the validity or enforceability of any other provisions of this      Agreement, which shall remain in full force and effect; provided, however,      if any provision of Sections 3(b), 3(c) and 3(e) of this Agreement shall      be determined by a court of competent jurisdiction to be unenforceable      because of the provision’s scope, duration, geographic restriction or      other factor, then such provision shall be considered divisible and the      court making such determination shall have the power to reduce or limit      (but not increase or make greater) such scope, duration, geographic      restriction or other factor or to reform (but not increase or make      greater) such provision to make it enforceable to the maximum extent      permitted by law, and such provision shall then be enforceable against the      appropriate party hereto in its reformed, reduced or limited      form. |
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| 17)   | Counterparts.  This      Agreement may be executed in one or more counterparts, each of which shall      be deemed to be an original but all of which together shall constitute one      and the same agreement. |
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| 18)   | Regulatory      Prohibition.  Notwithstanding any other provision of this      Agreement to the contrary, any payments made to the Executive pursuant to      this Agreement, or otherwise, are subject to and conditioned upon their      compliance with Section 18(k) of the Federal Deposit Insurance Act (12      U.S.C. §1828(k)) and the regulations promulgated thereunder, including 12      C.F.R. Part 359.  In the event of the Executive’s      termination of employment with the Bank for Cause, all employment      relationships and managerial duties with the Bank shall immediately cease      regardless of whether the Executive remains in the employ of the      Corporation following such termination.  Furthermore, following      such termination for Cause, the Executive shall not, directly or      indirectly, influence or participate in the affairs or the operations of      the Bank. |
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| 19)   | Payment of Costs and Legal Fees      and Reinstatement of Benefits.  In the event any dispute      or controversy arising under or in connection with the Executive’s      termination is resolved in favor of the Executive, whether by judgment,      arbitration or settlement, the Executive shall be entitled to the payment      of (a) all legal fees incurred by the Executive in resolving such      dispute or controversy, and (b) any back-pay, including Base Salary,      bonuses and any other cash compensation, employee benefits and any      compensation and benefits due but not otherwise paid to the Executive      under this Agreement. |
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| 20)   | Indemnification.  The      Corporation shall provide the Executive (including his heirs, executors      and administrators) with coverage under a standard directors’ and      officers’ liability insurance policy at its expense, or in lieu thereof,      shall indemnify the Executive (and his heirs, executors and      administrators) to the fullest extent permitted under Indiana law against      all expenses and liabilities reasonably incurred by him in connection with      or arising out of any action, suit or proceeding in which he may be      involved by reason of his having been a director or officer of the      Corporation (whether or not he continues to be a director or officer at      the time of incurring such expenses or liabilities).  Such      expenses and liabilities shall include, but shall not be limited to,      judgments, court costs and attorneys’ fees and the cost of reasonable      settlements. |
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| 21)   | Entire      Agreement.  This Agreement embodies the entire agreement      between the Corporation and the Executive with respect to the matters      agreed to herein.  All prior agreements between the Corporation      and the Executive with respect to the matters agreed to herein are hereby      superseded and shall have no force or effect.  Notwithstanding      the foregoing, nothing contained in this Agreement shall affect the Bank      Agreement, which is being executed contemporaneously    herewith. |
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| 22)   | Construction.  This      Agreement shall be deemed to have been drafted by both parties      hereto.  This Agreement shall be construed in accordance with      the fair meaning of its provisions and its language shall not be strictly      construed against, nor shall ambiguities be resolved against, any      party. |
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| 23)   | Recitals.  The      recitals or “Whereas” clauses contained on page 1 of this Agreement are      expressly incorporated into and made a part of this    Agreement. |
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| 24)   | Non-disparagement.  During      the Executive’s employment with the Corporation and following any      termination of the Executive’s employment with the Corporation, the      Executive shall not publicly disparage or make or publish any negative      statements or comments about the Corporation, any of the Corporation’s      subsidiaries or affiliates or any of their respective products, services,      directors, officers or employees.  During the Executive’s      employment with the Corporation and following any termination of the      Executive’s employment with the Corporation, and subject to applicable      law, no executive officer of the Corporation or member of the      Corporation’s Board of Directors shall publicly disparage or make or      publish any negative statements or comments about the      Executive. |
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| 25)   | Cooperation.  For      a period of five (5) years following any termination of the Executive’s      employment with the Corporation and upon the request of the Corporation or      any of its subsidiaries or affiliates, the Executive shall reasonably      cooperate, assist and make himself available (for testimony or otherwise)      at appropriate times and places as reasonably determined by the      Corporation or any of its subsidiaries or affiliates in connection with      any claim, demand, action, suit, proceeding, discovery, examination,      investigation or litigation by, against or affecting the Corporation or      any of its subsidiaries or affiliates.  In connection with the      foregoing, |
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| 26)   | Certain      Remedies.  The Executive agrees that the Corporation will      suffer irreparable damage and injury and will not have an adequate remedy      at law in the event of any actual, threatened or attempted breach by the      Executive of any provision of Section 3.  Accordingly, in the      event of a breach or a threatened or attempted breach by the Executive of      any provision of Section 3, in addition to all other remedies to which the      Corporation is entitled at law, in equity or otherwise, the Corporation      shall be entitled to a temporary restraining order, a permanent injunction      and/or a decree of specific performance of any provision of Section      3.  The parties agree that a bond posted by the Corporation in      the amount of One Thousand Dollars ($1,000) shall be adequate and      appropriate in connection with such restraining order or injunction and      that actual damages need not be proved by the Corporation prior to it      being entitled to obtain such restraining order, injunction or specific      performance.  The foregoing remedies shall not be deemed to be      the exclusive rights or remedies of the Corporation for any breach of or      noncompliance with this Agreement by the Executive but shall be in      addition to all other rights and remedies available to the Corporation at      law, in equity or otherwise. |
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