Exhibit 10.4


REVISED
 EXECUTIVE SUPPLEMENTAL RETIREMENT PLAN
 PARTICIPATION AGREEMENT


          This Agreement is made and entered into as of the 18th day of December, 1991 by and between FIRST FEDERAL SAVINGS OF RENTON (hereinafter referred to as “the Bank”) and          ___________________ (hereinafter referred to as “the Participant”), pursuant to the Executive Supplemental Retirement Income Plan.  This agreement modifies all other Executive Supplemental Retirement Plan Participant Agreements between the Bank and the Participant.


          In consideration of past and future services of the Participant to the Bank, and of the mutual covenants contained herein, the Bank and the Participant agree as follows:



	
  
 
  	
  
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Benefits
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
           A.          Normal
Retirement:     Upon the Participant’s
retirement from full time service to the Bank at age 65 or later, the Bank shall
pay to the Participant an annual pension of $10,000. payable in equal monthly
installments on the first business day of each calendar month for 180
months.  Prior to retirement, said $10,000. annual benefit shall be
increased by 4% compounded annually for each year that a participant
participates in the plan.  (Original Plan Date October 30th 1985) 
Partial years of participation shall receive a pro-rata increase.  Upon
commencement of benefit payments, regardless of age, said benefit shall remain
level except by modification of this agreement pursuant to Section 5, Paragraph
D. herein.  Said payments shall be reduced by any state or federal taxes
payable on said amounts by the Bank.  In the event that said Participant
shall die following retirement but prior to receiving 180 monthly payments, the
Bank will pay to the Participant’s beneficiary, designated on the attached
Exhibit “A”, Beneficiary Designation Form, the balance of said
payments until a total of 180 payments have been made by the Bank.  The
beneficiary designated by the Participant on the attached Beneficiary
Designation Form shall be the Participant’s legal spouse, if married,
unless such spouse shall consent in writing, to the designation of another
beneficiary.  If, at the time of the Participant’s death, there is no
surviving spouse, or if the designation of beneficiary shall be ineffective for
any reason, the beneficiary shall conclusively be deemed to be the
Participant’s lineal descendents, per stirpes or, if none, those persons
who would be entitled to share in the Participant’s estate if the
Participant died intestate.  Subject to the foregoing, the Participant may,
at any time, change the beneficiary hereunder by filing a new Beneficiary
Designation Form with the Secretary of the Bank.
 
	  
	  
	  

	  
	           B.          Early Retirement:     In the event of early retirement prior to age 65, assuming the Participant has reached age 55 years, the Participant shall













	
  
 
  	
  
have the option to receive an actuarially   reduced equivalent amount beginning at the date of early retirement and   continuing for a period of 180 months.    Such actuarial reduction shall be computed by multiplying the amount   payable at normal retirement (age 65) by a fraction the numerator of which is   the number of full years served since participation in this, or preceding   plans, until the early retirement date.    The denominator is the number of full years served since participation   in this, or preceding plans, until age 65.    There shall be no retirement benefit payable prior to age 55.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
          C.          Pre-Retirement   Death:     In the event the Participant   dies prior to retirement while employed by the Bank, the Participant’s   beneficiary as designated on the Beneficiary Designation Form (pursuant to   the rules on beneficiary designations set forth in Sub-Paragraph 1.A.), shall   receive a benefit payment hereunder for 120 months equal to the monthly amount   payable at age 65 as specified in Paragraph 1.A. hereunder to a maximum of   $200,000.  Any beneficiary of the Plan   may receive said payments in a single, unreduced, lump sum upon request to   the Bank.
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
2.       Forfeiture   or Suspension of Benefits:     Notwithstanding   any other provision of this plan to the contrary, supplemental retirement   benefits shall be forfeited or suspended as follows:
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
          A.          No   supplemental benefit shall be paid if the Participant commits suicide, while sane   or insane, within two (2) years from the date he or she is enrolled under the   Plan.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
          B.          No   supplemental benefit shall be paid if a Participant is discharged for cause   by reason of fraud, dishonesty, embezzlement or any other breach of trust.
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
3.       Ownership   of Insurance:  All rights   and incidents of ownership in any life insurance policy that the Bank may   purchase insuring the life of the Participant shall belong exclusively to the   Bank, and neither the Participant or any beneficiary or other person claiming   under or through him or her shall have any rights, title or interest in or to   any such insurance policy.  Neither   the Participant nor any beneficiary under this Agreement shall have any power   to transfer, assign, hypothecate or otherwise encumber, in advance any of the   benefits payable hereunder, nor shall any benefits be subject to seizure for   the benefit of any debts or judgments, or be transferable by operation of law   in the event of bankruptcy, insolvency or otherwise.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	

  
4.       Administration: 
The Bank shall have full power and authority to interpret, construe and
administer this Plan, to adopt appropriate procedures and to make all decisions
necessary or proper to carry out the terms of the Plan.  The Bank’s
interpretation and construction hereof, and actions hereunder, including any
determination of benefit amount or designation of
 












	
  
 
  	
  
the person to receive supplemental
payments, shall be binding and conclusive on all persons for all purposes. 
Neither the Bank, nor its officers, employees, or directors, nor any member
thereof shall be liable to any person for any action taken or omitted in
connection with the interpretation and administration of this Plan.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
5.       General   Provisions:
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
          A.          Retirement   Plan:     Nothing in this Agreement shall   diminish or impair the Participant’s eligibility, participation or benefit   entitlement under the qualified retirement plan for the employees of the   Bank, or any other benefit, insurance or compensation plan or agreement of   the Bank now or hereinafter in effect.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
          B.          No   Effect on Employment:     This Plan shall   not be deemed to give any participant or other person in the employ of the   Bank any right to be retained in the employment of the Bank, or to interfere   with the right of the Bank to terminate any Participant or such other person   at any time and to treat him or her without regard to the effect which such   treatment might have upon him or her as a Participant in this Plan.
  
	
   
  	
  
 
  	
  
 
  
	
  
 
  	
  
          C.          Legally   Binding:     The rights, privileges,   benefits and obligations under this Plan are intended to be legal obligations   of the Bank and binding upon the Bank, its successors and assigns.
  
	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
          D.          Modification:     The   Bank by action of the Board of Directors, reserves the exclusive right to   amend, modify or terminate this Plan.    Any such termination, modification or amendment shall not terminate or   diminish any present or future rights or benefits.  The Bank shall give thirty (30) days notice, in writing, to any   Participant prior to the effective date of any such amendment, modification   or termination of this Plan.
  




In witness whereof, the Bank has caused this Agreement to be executed by a duly authorized office, duly attested by its Secretary, and the Participant has signed this Agreement as of the date first written set forth above.

	
   
  	
  
Participant
  	
   
 	
  
Bank
  
	
  
 
  	
  


  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  	
  
By:
  	
  
 
  
	
  
 
  	
  


  	
  
 
  	
  
 
  	
  


  
	
  
 
  	
  
Participant
  	
  
 
  	
  
 
  	
  
Bank Officer
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  


  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
Spouse
  	
  
 
  	
  
 
  	
  
 
  













MODIFICATION AGREEMENT
 OF THE
 REVISED EXECUTIVE SUPPLEMENTAL
 RETIREMENT PLAN PARTICIPANT AGREEMENT
 DATED DECEMBER 18TH, 1991


This Modification Agreement is entered into this 1st day of December 1999 in accordance with Section 5 (General Provisions) Paragraph D (Modification) contained within the above captioned agreement by and between First Federal Savings of Renton (which has since been succeeded in interest by First Savings Bank Of Renton) and ______________.


Section 1.   Benefits Paragraph A. Normal Retirement: is herein modified to read as follows:

	
  
 
  	
  
Upon the   Participant’s retirement from full time service to the Bank at age 65 or   later, the Bank shall pay to the Participant an annual pension of $15,000.   payable in equal monthly installments on the first business day of each   calendar month for 180 months.  Prior   to retirement, said $15,000. annual benefit shall be increased by 4%   compounded annually for each year that a participant participates in the   plan.  (Original Plan Date October   30th, 1985)  Partial years of   participation shall receive a pro-rata increase.  Upon commencement of benefit payments, regardless of age, said   benefit shall remain level except by modification of this agreement pursuant   to Section 5, Paragraph D. herein.    Said payments shall be reduced by any state or federal taxes payable   on said amounts by the Bank.  In the   event that said Participant shall die following retirement but prior to   receiving 180 monthly payments, the
Bank will pay to the Participant’s   beneficiary, designated on the attached Exhibit “A”, Beneficiary Designation   Form, the balance of said payments until a total of 180 payments have been   made by the Bank.  The beneficiary   designated by the Participant on the attached Beneficiary Designation Form   shall be the Participant’s legal spouse, if married, unless such spouse shall   consent in writing, to the designation of another beneficiary.  If, at the time of the Participant’s   death, there is no surviving spouse, or if the designation of beneficiary   shall be ineffective for any reason, the beneficiary shall conclusively be   deemed to be the Participant’s lineal descendents, per stirpes or, if none,   those persons who would be entitled to share in the Participant’s estate if   the Participant died intestate.    Subject to the foregoing, the Participant may, at any time, change the   beneficiary hereunder by filing a new Beneficiary
Designation Form with the   Secretary of the Bank.
  	
  
 
  



Except as herein modified all other terms and conditions contained within the above referenced Participant Agreement shall remain in its entirety.


In witness whereof, the Bank has caused this Modification Agreement to be executed by a duly authorized officer and the Participant in acknowledgment has also signed this Modification as of the date first written set forth above.

	
  
Participant
  	
   
 	
  
Bank
  
	
  


  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
BY:
  	
  
 
  	
  
 
  	
  
BY:
  	
  
 
  
	
  
 
  	
  


  	
  
 
  	
  
 
  	
  


  













MODIFICATION AGREEMENT

 OF THE
 REVISED EXECUTIVE SUPPLEMENTAL
 RETIREMENT PLAN PARTICIPANT AGREEMENT
 DATED DECEMBER 18TH, 1991


This Modification Agreement is entered into this 1st day of November 2004 in accordance with Section 5 (General Provisions) Paragraph D (Modification) contained within the above captioned agreement which was previously modified by agreement dated December 1, 1999 by and between First Federal Savings of Renton (which has since been succeeded in interest by First Savings Bank Of Renton) and ______________.


Section 1.   Benefits Paragraph A. Normal Retirement: is herein modified to read as follows:


	
  
 
  	
  
Upon the   Participant’s retirement from full time service to the Bank at age 65 or   later, the Bank shall pay to the Participant an annual pension of $25,000.   payable in equal monthly installments on the first business day of each   calendar month for 180 months.  Prior   to retirement, said $25,000. annual benefit shall be increased by 4%   compounded annually for each year that a participant participates in the   plan.  Partial years of participation   shall receive a pro-rata increase.    Upon commencement of benefit payments, regardless of age, said benefit   shall remain level except by modification of this agreement pursuant to   Section 5, Paragraph D. herein.  Said   payments shall be reduced by any state or federal taxes payable on said   amounts by the Bank.  In the event that   said Participant shall die following retirement but prior to receiving 180   monthly payments, the Bank will pay to the Participant’s
beneficiary,   designated on the attached Exhibit “A”, Beneficiary Designation Form, the   balance of said payments until a total of 180 payments have been made by the   Bank.  The beneficiary designated by   the Participant on the attached Beneficiary Designation Form shall be the   Participant’s legal spouse, if married, unless such spouse shall consent in   writing, to the designation of another beneficiary.  If, at the time of the Participant’s death, there is no   surviving spouse, or if the designation of beneficiary shall be ineffective   for any reason, the beneficiary shall conclusively be deemed to be the   Participant’s lineal descendents, per stirpes or, if none, those persons who   would be entitled to share in the Participant’s estate if the Participant   died intestate.  Subject to the   foregoing, the Participant may, at any time, change the beneficiary hereunder   by filing a new Beneficiary Designation Form with the Secretary of the
Bank.
  	
  
 
  



Except as herein modified all other terms and conditions contained within the above referenced Participant Agreement shall remain in its entirety.


In witness whereof, the Bank has caused this Modification Agreement to be executed by a duly authorized officer and the Participant in acknowledgment has also signed this Modification as of the date first written set forth above.

	
  
Participant
  	
   
 	
  
Bank
  
	
  


  	
  
 
  	
  


  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
  
 
  	
  
 
  	
  
 
  	
  
 
  	
  
 
  
	
   
  	
   
  	
   
  	
   
  	
   
  
	
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