Document:

EX-10.2

 Exhibit 10.2 
 Home Savings Bank 
 Amended Salary Continuation Agreement 

This AMENDED SALARY CONTINUATION
AGREEMENT (this “Agreement”) is entered into this 19th day of December, 2008 by and between Home Savings Bank, a Wisconsin-chartered savings bank located in Madison, Wisconsin (the “Bank”), and James R. Bradley, Jr., its President and Chief
Executive Officer (the “Executive”). 
 WHEREAS, to encourage the Executive to
remain a Bank employee, the Bank entered into a Salary Continuation Agreement dated as of July 14, 2003 with the Executive, providing salary continuation benefits payable out of the Bank’s general assets to the Executive after employment
termination, 
 WHEREAS, the Bank and the Executive intend that this Agreement shall amend
and restate in its entirety the July 14, 2003 Salary Continuation Agreement, 

WHEREAS, none of the conditions or events included in the definition of the term “golden
parachute payment” that is set forth in section 18(k)(4)(A)(ii) of the Federal Deposit Insurance Act [12 U.S.C. 1828(k)(4)(A)(ii)] and in Federal Deposit Insurance Corporation Rule 359.1(f)(1)(ii) [12 CFR 359.1(f)(1)(ii)] exists or, to the best
knowledge of the Bank, is contemplated insofar as the Bank is concerned, and 
 WHEREAS,
the parties hereto intend that this Agreement shall be considered an unfunded arrangement maintained primarily to provide supplemental retirement benefits for the Executive, and to be considered a non-qualified benefit plan for purposes of the
Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Executive is fully advised of the Bank’s financial status. 
 NOW THEREFORE, in consideration of the foregoing premises and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows. 
 ARTICLE 1 

DEFINITIONS 
 1.1 “Accrual Balance” means the liability that should be accrued by the Bank under generally accepted accounting principles to account for the Bank’s obligation to the Executive
under this Agreement. The Accrual Balance is solely a device for measuring amounts anticipated to be paid under this Agreement. The Accrual Balance is not a trust fund of any kind. 

1.2 “Beneficiary” means each designated person, or the estate of the deceased Executive, entitled to benefits, if any,
upon the death of the Executive, determined according to Article 4. 
 1.3 “Beneficiary Designation Form” means
the form established from time to time by the Plan Administrator that the Executive completes, signs, and returns to the Plan Administrator to designate one or more Beneficiaries. 

 1.4 “Change in Control,” whether before or after conversion of the Bank
from the mutual stock form of organization, the term change in control means a change in control as defined in Internal Revenue Code section 409A and rules, regulations, and guidance of general application thereunder issued by the Department of the
Treasury, including - 
 (a) Change in ownership: a change in ownership of the Bank occurs on the date any one person or
group accumulates ownership of Bank equity interests constituting more than 50% of the total fair market value or total voting power of Bank equity interests, or 
 (b) Change in effective control: (x) any one person or more than one person acting as a group acquires within a 12-month period ownership of Bank equity interests possessing 30% or more of the
total voting power of Bank equity interests, or (y) a majority of the Bank’s board of directors is replaced during any 12-month period by directors whose appointment or election is not endorsed in advance by a majority of the
Bank’s board of directors, or 
 (c) Change in ownership of a substantial portion of assets: a change in ownership
of a substantial portion of the Bank’s assets occurs if in a 12-month period any one person or more than one person acting as a group acquires from the Bank assets having a total gross fair market value equal to or exceeding 40% of the total
gross fair market value of all of the Bank’s assets immediately before the acquisition or acquisitions. For this purpose, gross fair market value means the value of the Bank’s assets, or the value of the assets being disposed of,
determined without regard to any liabilities associated with the assets. 
 Despite anything to the contrary in this section
1.4, however, conversion of the Bank from the mutual to stock form of ownership and sale of shares of the Bank or a holding company of the Bank in a conversion, community, or public offering shall not be considered a Change in Control for purposes
of this Agreement. 
 1.5 “Code” means the Internal Revenue Code of 1986, as amended, and rules, regulations,
and guidance of general application issued thereunder by the Department of the Treasury. 
 1.6 “Disability”
means, because of a medically determinable physical or mental impairment that can be expected to result in death or that can be expected to last for a continuous period of at least 12 months, (x) the Executive is unable to engage in any
substantial gainful activity, or (y) the Executive is receiving income replacement benefits for a period of at least three months under an accident and health plan of the employer. Medical determination of disability may be made either
by the Social Security Administration or by the provider of an accident or health plan covering employees of the Bank. Upon request of the Plan Administrator, the Executive must submit proof to the Plan Administrator of the Social Security
Administration’s or provider’s determination. 
 1.7 “Early Termination” means the Executive’s
Separation from Service before Normal Retirement Age for reasons other than death, Disability, or Termination with Cause. A Separation from Service within 24 months after a Change in Control and for which benefits are determined under section 2.5
shall not be considered an Early Termination for purposes of this Agreement. 
 1.8 “Effective Date” means
January 1, 2003. 
 1.9 “Good Reason” means good reason as defined in Code section 409A, including
occurrence of any of the following without the Executive’s advance written consent, provided that (x) the Executive gives notice to the Bank of the existence of one or more of the conditions described in paragraphs (a) through
(e) of this section 1.9 within 90 days after the initial existence of the condition, (y) the Bank does not remedy the condition within 30 days after receiving notice from the Executive, and (z) the Executive’s
voluntary termination because of the existence of one or more of the conditions described in paragraphs (a) through (e) occurs within 24 months after the initial existence of the condition – 

(a) a material diminution of the Executive’s base salary, or 

  
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 (b) a material diminution of the Executive’s authority, duties, or responsibilities, or

 (c) a material diminution in the authority, duties, or responsibilities of the supervisor to whom the Executive is required
to report, or 
 (d) a material diminution in the budget over which the Executive retains authority, or 

(e) a material change in the geographic location at which the Executive must perform services for the Bank, 

1.10 “Normal Retirement Age” means the Executive’s 65th birthday. 

1.11 “Person” means an individual, corporation, partnership, trust, association, joint venture, pool, syndicate,
sole proprietorship, unincorporated organization or other entity. 
 1.12 “Plan Administrator” or
“Administrator” means the plan administrator described in Article 8. 
 1.13 “Plan
Year” means a twelve-month period commencing on January 1 and ending on December 31 of each year. The initial Plan Year shall commence on the Effective Date of this Agreement. 

1.14 “Separation from Service” means the Executive’s service as an executive and independent contractor to
the Bank and any member of a controlled group, as defined in Code section 414, terminates for any reason, other than because of a leave of absence approved by the Bank or the Executive’s death, provided the Executive’s termination
constitutes a separation from service as that term is defined by Code section 409A. For purposes of this Agreement, if there is a dispute about the employment status of the Executive or the date of the Executive’s Separation from Service, the
Bank shall have the sole and absolute right to decide the dispute unless a Change in Control shall have occurred. 
 1.15
“Termination with Cause” or “Cause” means the definition of termination with cause specified in any employment or severance agreement existing on the date hereof or hereafter entered into between the Executive
and the Bank. If the Executive is not a party to an employment or severance agreement containing a definition of termination with cause, Termination with Cause means the Bank terminates the Executive’s employment for any of the following
reasons - 
 (a) Gross negligence or gross neglect of duties, or 

(b) Commission of a felony or commission of a misdemeanor involving moral turpitude, or 

(c) Fraud, disloyalty, or willful violation of any law or significant Bank policy committed in connection with the Executive’s
employment and resulting in an adverse effect on the Bank. For this purpose, “significant” Bank policies include but are not limited to Bank policies governing lending, investments, asset and liability management, and any other policy the
violation of which is likely to result in a loss to the Bank or in a regulatory sanction. 

  
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 ARTICLE 2 

BENEFITS 
 2.1 Normal Retirement. Upon the Executive’s Separation from Service on or after Normal Retirement Age for reasons other than death, the Bank shall pay to the Executive the benefit
described in this section 2.1 instead of any other benefit under this Agreement. If the Executive’s Separation from Service is a Termination with Cause or if this Agreement terminates under Article 5, no benefits shall be payable under this
Agreement. 
  

	 	2.1.1	Amount. The annual benefit under this section 2.1 shall be based on contributions actually made by the Bank through the end of the month ended immediately before
the month in which Separation from Service occurs and the Accrual Balance at the end of the month immediately before the month in which Separation from Service occurs. The contributions expected to be made by the Bank are reflected in Schedule A.
The annual benefit under this section 2.1 is calculated as the amount that fully amortizes the Accrual Balance existing at the end of the month immediately before the month in which Separation from Service occurs, amortizing that Accrual Balance
over 15 years and taking into account interest at the discount rate or rates established by the Plan Administrator. 

 The Bank shall make no contributions in any quarter if the Bank’s average return on average assets (ROAA) in the preceding eight quarters is less than an annual ROAA of 0.25% (or 25 basis points).
Further contributions by the Bank shall be suspended until the average ROAA over a period of eight consecutive quarters equals or exceeds 0.25%. If the Bank and the Executive do not agree about the average ROAA figure or the manner in which it is
computed, the Bank and the Executive agree that the average ROAA shall be derived from quarterly reports of condition filed with the FDIC under the Federal Deposit Insurance Act section 7(a), 12 U.S.C. 1817(a), and FDIC rules, 12 CFR Part 304.

 The Accrual Balance is solely a device for measuring amounts to be paid under this Agreement. The Accrual Balance is not a
trust fund of any kind. The Executive is a general unsecured creditor of the Bank for the payment of benefits. The benefits represent the mere promise on the Bank’s part to pay benefits. The Executive’s rights are not subject to
anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by the Executive’s creditors. The benefits provided by this Agreement are non-contributory. The Executive shall have no right to make
contributions to the Accrual Balance amount. 
  

	 	2.1.2	Payment. Beginning with the month immediately after the month in which the Executive’s Separation from Service occurs, the Bank shall pay the annual benefit
to the Executive in 12 equal monthly installments on the first day of each month. The annual benefit shall be paid to the Executive for 15 years. 

 2.2 Early Termination. Provided the Executive attains age 60 before Separation from Service, the Bank shall pay to the Executive the benefit described in this section 2.2 for Early Termination
instead of any other benefit under this Agreement. If Early Termination is an involuntary termination of the Executive by the Bank without Cause before the Executive attains age 60, the Bank shall pay to the Executive the benefit described in this
section 2.2 instead of any other benefit under this Agreement. If Early Termination is a voluntary termination by the Executive before attaining age 60, no benefit shall be payable under this section 2.2. Additionally, no benefits shall be payable
if the 

  
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Executive’s Separation from Service is a Termination with Cause or if this Agreement terminates under Article 5. Neither the Bank nor the Executive shall be entitled to elect in the 24-month
period after a Change in Control between the benefit under this section 2.2 versus the benefit under section 2.5. If the Executive’s Separation from Service within 24 months after a Change in Control is an involuntary termination without Cause
or a voluntary termination with Good Reason, no benefit shall be payable under this section 2.2 and the Executive shall instead be entitled to the benefit under section 2.5 or, if the Executive first attained Normal Retirement Age, section 2.1.

  

	 	2.2.1	Amount. The annual benefit under this section 2.2 is calculated as the amount that fully amortizes the Accrual Balance existing at the end of the month
immediately before the month in which Separation from Service occurs, amortizing that Accrual Balance over 15 years and taking into account interest at the discount rate or rates established by the Plan Administrator. 

 

	 	2.2.2	Payment. Beginning with the month immediately after the month in which the Executive attains Normal Retirement Age, the Bank shall pay the annual benefit to the
Executive in 12 equal monthly installments on the first day of each month. The annual benefit shall be paid to the Executive for 15 years. 

 2.3 Breach or Failure to Make Contributions. Subject to section 7.1, the Bank shall pay to the Executive the amount determined under this section 2.3 instead of any other benefit under this
Agreement and this Agreement shall thereafter terminate in accordance with section 7.1 if (x) the Bank is in material breach of this Agreement and fails to cure the breach within 30 days after receiving from the Executive written notice
of the breach or (y) the Bank fails to make the contributions expected to be made by the Bank according to section 2.1, as reflected in Schedule A, when the Bank’s ROAA is sufficient to allow the Bank to make contributions under
section 2.1. 
  

	 	2.3.1	Amount. The amount determined under this section 2.3 is an amount in cash equal to the Accrual Balance at the end of the Plan Year in which either of the events
described in clauses (x) and (y) immediately above occurs, except that the Accrual Balance shall be determined on a basis that assumes all contributions expected to be made by the Bank according to section 2.1, as reflected
in Schedule A, were actually made, but excluding contributions for any period in which the Bank’s ROAA was not sufficient to allow the Bank to make contributions under section 2.1. 

 

	 	2.3.2	Payment. The Bank shall pay the amount determined under section 2.3 of this Agreement to the Executive in a single lump sum within three days after ROAA is
determined for the Plan Year in which either of the events described in clauses (x) and (y) immediately above occurs. 

 2.4 Disability. If Separation from Service occurs because of Disability before Normal Retirement Age, the Bank shall pay to the Executive the benefit described in this section 2.4 instead of
any other benefit under this Agreement. 
  

	 	2.4.1	Amount. The annual benefit under this section 2.4 is calculated as the amount that fully amortizes the Accrual Balance existing at the end of the month
immediately before the month in which Separation from Service occurs, amortizing that Accrual Balance over 15 years and taking into account interest at the discount rate or rates established by the Plan Administrator. 

 

	 	2.4.2	Payment. Beginning with the month immediately after the month in which the Executive attains Normal Retirement Age, the Bank shall pay the annual benefit to the
Executive in 12 equal monthly installments on the first day of each month. The annual benefit shall be paid to the Executive for 15 years. 

  
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 2.5 Change in Control. If the Executive’s Separation from Service within
24 months after a Change in Control is an involuntarily termination without Cause or a voluntary termination with Good Reason, the Bank shall pay to the Executive the benefit described in this section 2.5 instead of any other benefit under this
Agreement. However, no benefits shall be payable if the Executive’s Separation from Service is a Termination with Cause or if this Agreement terminates under Article 5. Neither the Bank nor the Executive shall be entitled to elect in the
24-month period after a Change in Control between the benefit under this section 2.5 versus the Early Termination benefit under section 2.2 or the Normal Retirement Age benefit under section 2.1. If the Executive’s Separation from Service
within 24 months after a Change in Control but before Normal Retirement Age is an involuntary termination without Cause or a voluntary termination with Good Reason, no benefit shall be payable under section 2.2 and the Executive shall instead be
entitled to the benefit under this section 2.5. But if the Executive shall have attained Normal Retirement Age when Separation from Service within 24 months after a Change in Control occurs, whether Separation from Service is voluntary or
involuntary for any reason other than Termination with Cause, the Executive shall be entitled solely to the benefit provided by section 2.1, not this section 2.5. 
  

	 	2.5.1	Amount: The benefit under this section 2.5 is an amount in cash equal to the Accrual Balance at the end of the month immediately before the month in which
the Executive’s Separation from Service occurs. 

  

	 	2.5.2	Payment: The Bank shall pay the benefit under this section 2.5 to the Executive in a single lump sum within three days after the Executive’s Separation from
Service. 

 2.6 Lump-sum Payment of Normal Retirement Benefit, Early Termination Benefit, or Disability
Benefit Being Paid to the Executive when a Change in Control Occurs. If when a Change in Control occurs after Separation from Service the Executive is receiving the benefit under section 2.1, the Bank shall pay the remaining benefits to
the Executive in a single lump sum on the date of the Change in Control. If when a Change in Control occurs after Separation from Service the Executive is receiving or is entitled at Normal Retirement Age to receive the benefit under sections 2.2 or
2.4, the Bank shall pay the remaining benefits to the Executive in a single lump sum on the date of the Change in Control. The lump-sum payment due to the Executive as a result of a Change in Control shall be an amount equal to the Accrual Balance
amount corresponding to the particular benefit when the Change in Control occurs. 
 2.7 Benefit Calculations.
Schedule A attached to this Agreement reflects the benefits that may become payable under this Agreement. Schedule A is incorporated herein by this reference and is made a part hereof. 

 

	 	2.7.1	 Method of benefit calculation. The Schedule A in place as of this Agreement’s Effective Date reflects anticipated benefits payable to the
Executive based upon the Bank’s expected contributions. Actual contributions by the Bank may be different from expected contributions if the Bank’s average ROAA does not equal or exceed 0.25%, as provided in section 2.1.1 of this
Agreement. All benefits payable under this Agreement shall be based upon actual contributions, not expected contributions. The anticipated benefits reflected in Schedule A are included for illustrative purposes only. From time to time, but at least
annually, the Bank shall prepare or have prepared a revised and updated Schedule A 

  
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showing actual contributions by the Bank to date and actual benefit levels based on those contributions actually made. Within 120 days after the end of each Plan Year, the Bank shall provide to
the Executive a copy of the revised and updated Schedule A. If prepared in good faith, a more current revised and updated Schedule A shall be substituted for and shall supersede the Schedule A dated as of the Effective Date and any previous revised
and updated Schedule A. The Executive acknowledges and agrees that the benefits or anticipated benefits reflected in a revised and updated Schedule A may be less than or greater than the benefits reflected in previous versions of Schedule A.

  

	 	2.7.2	Contradiction between the terms of the Agreement and Schedule A. If there is a contradiction between the terms of this Agreement and Schedule A concerning the
amount due the Executive, the amount of the benefit due the Executive shall be determined by this Agreement without regard to Schedule A. 

 2.8 Savings Clause Relating to Compliance with Code Section 409A. Despite any contrary provision of this Agreement, if when the Executive’s employment terminates the Executive is a
specified employee, as defined in Code section 409A, and if any payments under Article 2 of this Agreement will result in additional tax or interest to the Executive because of section 409A, the Executive shall not be entitled to the payments under
Article 2 until the earliest of (x) the date that is at least six months after termination of the Executive’s employment for reasons other than the Executive’s death, (y) the date of the Executive’s death, or
(z) any earlier date that does not result in additional tax or interest to the Executive under section 409A. If any provision of this Agreement would subject the Executive to additional tax or interest under section 409A, the Bank shall
reform the provision. However, the Bank shall maintain to the maximum extent practicable the original intent of the applicable provision without subjecting the Executive to additional tax or interest, and the Bank shall not be required to incur any
additional compensation expense as a result of the reformed provision. 
 2.9 One Benefit Only. Despite anything to the
contrary in this Agreement, the Executive and Beneficiary are entitled to one benefit only under this Agreement, which shall be determined by the first event to occur that is dealt with by this Agreement. Except as provided in section 2.6 or Article
3, subsequent occurrence of events dealt with by this Agreement shall not entitle the Executive or Beneficiary to other or additional benefits under this Agreement. 
 ARTICLE 3 
 DEATH BENEFITS

 3.1 Death Before Separation from Service. Except as provided in section 5.2, if the Executive dies before
Separation from Service, at the Executive’s death the Executive’s Beneficiary shall be entitled to receive from the Bank in a single lump sum an amount in cash equal to the Accrual Balance existing at the Executive’s death, unless a
termination payment shall have been made under section 2.3. No benefit shall be paid if a termination payment shall have been made under section 2.3. If a benefit is payable to the Executive’s Beneficiary under this section 3.1, the benefit
shall be paid in a single lump sum within 30 days after the Executive’s death. However, no benefits under this Agreement shall be paid or payable to the Executive or the Executive’s Beneficiary if this Agreement is terminated under Article
5. 
 3.2 Death After Separation from Service. If the Executive dies after Separation from Service, if Separation
from Service was not a Termination with Cause, and if at death the Executive was receiving the benefit under section 2.1 or was receiving or was entitled at Normal Retirement Age to receive the benefit under sections 2.2 or 2.4, at the
Executive’s death the Executive’s Beneficiary shall be 

  
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entitled to receive the benefits the Executive would have received had the Executive survived, except that payment of the benefits shall commence on the first day of the month immediately after
the month in which the Executive’s death occurs. No benefit shall be paid to the Executive’s Beneficiary if the termination payment shall have been made under section 2.3, if the Change-in-Control benefit shall have been paid to the
Executive under section 2.5, if a Change-in-Control payout shall have occurred under section 2.6, or if this Agreement is terminated under Article 5. 
 3.3 Change-in-Control Payout of Normal Retirement Benefit, Early Termination Benefit, or Disability Benefit Being Paid to the Beneficiary when a Change in Control Occurs. If a Change in
Control occurs while the Beneficiary is receiving benefit payments under section 3.2, the Bank shall pay the remaining benefits to the Beneficiary in a single lump sum within three days after the Change in Control. The lump-sum payment due to the
Beneficiary as a result of a Change in Control shall be an amount equal to the Accrual Balance amount corresponding to the particular benefit then being paid to the Beneficiary under section 3.2 and sections 2.1, or 2.2, or 2.4. 

ARTICLE 4 
 BENEFICIARIES 
 4.1 Beneficiary Designations. The
Executive shall have the right to designate at any time a Beneficiary to receive any benefits payable under this Agreement at the Executive’s death. The Beneficiary designated under this Agreement may be the same as or different from the
beneficiary designation under any other benefit plan of the Bank in which the Executive participates. 
 4.2
Beneficiary Designation: Change. The Executive shall designate a Beneficiary by completing and signing the Beneficiary Designation Form and delivering it to the Plan Administrator or its designated agent. The Executive’s Beneficiary
designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved. The Executive shall have the right to change a Beneficiary
by completing, signing, and otherwise complying with the terms of the Beneficiary Designation Form and the Plan Administrator’s rules and procedures, as in effect from time to time. Upon acceptance by the Plan Administrator of a new Beneficiary
Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Executive and accepted by the Plan Administrator before the
Executive’s death. 
 4.3 Acknowledgment. No designation or change in designation of a Beneficiary shall be
effective until received, accepted, and acknowledged in writing by the Plan Administrator or its designated agent. 
 4.4
No Beneficiary Designation. If the Executive dies without a valid beneficiary designation, or if all designated Beneficiaries predecease the Executive, the Executive’s spouse shall be the designated Beneficiary. If the Executive has
no surviving spouse, the benefits shall be paid to the Executive’s estate. 
 4.5 Facility of Payment. If a
benefit is payable to a minor, to a person declared incapacitated, or to a person incapable of handling the disposition of his or her property, the Bank may pay the benefit to the guardian, legal representative, or person having the care or custody
of the minor, incapacitated person, or incapable person. The Bank may require proof of incapacity, minority, or guardianship as the Bank may deem appropriate before distribution of the benefit. Distribution shall completely discharge the Bank from
all liability for the benefit. 

  
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 ARTICLE 5 

GENERAL LIMITATIONS 
 5.1 Termination with Cause. Despite any contrary provision of this Agreement, the Bank shall not pay any benefit under this Agreement if the Executive’s Separation from Service is a
Termination with Cause. 
 5.2 Suicide or Misstatement. The Bank shall not pay any benefit under this Agreement if
the Executive commits suicide within three years after the Effective Date. In addition, the Bank shall not pay any benefit under this Agreement if the Executive has made any material misstatement of fact on any application or resume provided to the
Bank, or on any application for any benefits provided by the Bank to the Executive. 
 5.3 Removal. If the
Executive is removed from office or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under section 8(e)(4) or (g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. 1818(e)(4) or (g)(1), all
obligations of the Bank under this Agreement shall terminate as of the effective date of the order. 
 5.4
Default. Despite any contrary provision of this Agreement, if the Bank is in “default” or “in danger of default,” as those terms are defined in section 3(x) of the Federal Deposit Insurance Act, 12 U.S.C. 1813(x), all
obligations under this Agreement shall terminate. 
 5.5 FDIC Open-Bank Assistance. All obligations under this
Agreement shall terminate, except to the extent determined that continuation of the contract is necessary for the continued operation of the Bank, when the Federal Deposit Insurance Corporation enters into an agreement to provide assistance to or on
behalf of the Bank under the authority contained in Federal Deposit Insurance Act section 13(c), 12 U.S.C. 1823(c). Rights of the parties that have already vested shall not be affected by such action, however. 

ARTICLE 6 
 CLAIMS AND REVIEW PROCEDURES 
 6.1 Claims Procedure. A person or beneficiary (“claimant”) who has not received benefits under this Agreement that he or she believes should be paid shall make a claim for such
benefits as follows – 
  

	 	6.1.1	Initiation - written claim. The claimant initiates a claim by submitting to the Administrator a written claim for the benefits. If the claim relates to the
contents of a notice received by the claimant, the claim must be made within 60 days after the notice was received by the claimant. All other claims must be made within 180 days after the date of the event that caused the claim to arise. The claim
must state with particularity the determination desired by the claimant. 

  

	 	6.1.2	Timing of Bank response. The Bank shall respond to the claimant within 90 days after receiving the claim. If the Bank determines that special circumstances
require additional time for processing the claim, the Bank may extend the response period by an additional 90 days by notifying the claimant in writing before the end of the initial 90-day period that an additional period is required. The notice of
extension must state the special circumstances and the date by which the Bank expects to render its decision. 

  
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	 	6.1.3	Notice of decision. If the Bank denies part or all of the claim, the Bank shall notify the claimant in writing of the denial. The Bank shall write the
notification in a manner calculated to be understood by the claimant. The notification shall set forth – 

  

	 	6.1.3.1	the specific reasons for the denial, 

  

	 	6.1.3.2	a reference to the specific provisions of the Agreement on which the denial is based, 

 

	 	6.1.3.3	a description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed,

  

	 	6.1.3.4	an explanation of the Agreement’s review procedures and the time limits applicable to such procedures, and 

 

	 	6.1.3.5	a statement of the claimant’s right to bring a civil action under ERISA section 502(a) following an adverse benefit determination on review.

 6.2 Review Procedure. If the Bank denies part or all of the claim, the claimant shall have the
opportunity for a full and fair review by the Bank of the denial, as follows – 
  

	 	6.2.1	Initiation - written request. To initiate the review, the claimant, within 60 days after receiving the Bank’s notice of denial, must file with the Bank a
written request for review. 

  

	 	6.2.2	Additional submissions - information access. The claimant shall then have the opportunity to submit written comments, documents, records, and other information
relating to the claim. The Bank shall also provide the claimant, upon request and free of charge, reasonable access to and copies of all documents, records, and other information relevant (as defined in applicable ERISA regulations) to the
claimant’s claim for benefits. 

  

	 	6.2.3	Considerations on review. In considering the review, the Bank shall take into account all materials and information the claimant submits relating to the claim,
without regard to whether the information was submitted or considered in the initial benefit determination. 

  

	 	6.2.4	Timing of Bank response. The Bank shall respond in writing to the claimant within 60 days after receiving the request for review. If the Bank determines that
special circumstances require additional time for processing the claim, the Bank may extend the response period by an additional 60 days by notifying the claimant in writing before the end of the initial 60-day period that an additional period is
required. The notice of extension must state the special circumstances and the date by which the Bank expects to render its decision. 

  

	 	6.2.5	Notice of decision. The Bank shall notify the claimant in writing of its decision on review. The Bank shall write the notification in a manner calculated to be
understood by the claimant. The notification shall set forth - 

  

	 	6.2.5.1	the specific reason for the denial, 

  

	 	6.2.5.2	a reference to the specific provisions of the Agreement on which the denial is based, 

 

	 	6.2.5.3	a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records, and other information
relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits, and 

  

	 	6.2.5.4	a statement of the claimant’s right to bring a civil action under ERISA section 502(a). 

  
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 ARTICLE 7 

MISCELLANEOUS 
 7.1 Amendment and Termination. This Agreement may be amended solely by a written agreement signed by the Bank and the Executive, and except for termination occurring under Article 5 or under
this section 7.1 this Agreement may be terminated solely by a written agreement signed by the Bank and by the Executive. The Bank shall make the termination payment provided by section 2.3 and this Agreement shall terminate immediately thereafter if
(x) the Bank is in material breach of this Agreement and fails to cure the breach within 30 days after receiving from the Executive written notice of the breach, or (y) the Bank fails to make the contributions expected to be
made by the Bank according to section 2.1, as reflected in Schedule A, when the Bank’s ROAA is sufficient to allow the Bank to make contributions under section 2.1, provided that termination of this Agreement and payment of the amount specified
in section 2.3 is permitted by Code section 409A and does not violate the section 409A prohibition against acceleration of benefits. The parties intend that termination of this Agreement under section 2.3 and the termination payment provided by
section 2.3 shall qualify for the exception for plan terminations and liquidations to the prohibition against acceleration of benefits, which exception is currently set forth in Treasury Regulation 1.409A-3(j)(4)(ix). If in the opinion of counsel
reasonably acceptable to the Bank and the Executive an exception to the section 409A prohibition against acceleration of benefits is not available, no plan termination shall occur and no termination payments shall be made under section 2.3.

 7.2 Binding Effect. This Agreement shall bind the Executive and the Bank and their beneficiaries, survivors,
executors, successors, administrators, and transferees. 
 7.3 No Guarantee of Employment. This Agreement is not
an employment policy or contract. It does not give the Executive the right to remain an employee of the Bank nor does it interfere with the Bank’s right to discharge the Executive. It also does not require the Executive to remain an employee of
the Bank or interfere with the Executive’s right to terminate employment at any time. 
 7.4
Non-Transferability. Benefits under this Agreement may not be sold, transferred, assigned, pledged, attached, or encumbered. 
 7.5 Successors; Binding Agreement. By an assumption agreement in form and substance satisfactory to the Executive, the Bank shall require any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Bank to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Bank would be required to
perform this Agreement had no succession had occurred. If the Bank converts from the mutual to stock form of ownership (whether in full or in part) and sells shares of the Bank or its holding company in a conversion, community, or public offering,
that mutual-to-stock conversion shall not be subject to the obligations of this section 7.5. 
 7.6 Tax
Withholding. The Bank shall withhold any taxes that are required to be withheld from the benefits provided under this Agreement. 
 7.7 Applicable Law. The Agreement and all rights hereunder shall be governed by the laws of the State of Wisconsin, except to the extent preempted by the laws of the United States of
America. 

  
 11 

 7.8 Unfunded Arrangement. The Executive and Beneficiary are general unsecured
creditors of the Bank for the payment of benefits under this Agreement. The benefits represent the mere promise by the Bank to pay benefits. The rights to benefits are not subject to anticipation, alienation, sale, transfer, assignment, pledge,
encumbrance, attachment, or garnishment by creditors. Any insurance on the Executive’s life is a general asset of the Bank to which the Executive and beneficiary have no preferred or secured claim. 

7.9 Entire Agreement. This Agreement constitutes the entire agreement between the Bank and the Executive concerning the
subject matter. No rights are granted to the Executive by this Agreement other than those specifically set forth. This Agreement amends and restates in its entirety the July 14, 2003 Salary Continuation Agreement between the Executive and the
Bank. 
 7.10 Severability. If any provision of this Agreement is held invalid, such invalidity shall not affect
any other provision of this Agreement not held invalid, and each such other provision shall continue in full force and effect to the full extent consistent with law. If any provision of this Agreement is held invalid in part, such invalidity shall
not affect the remainder of such provision, and the remainder of such provision together with all other provisions of this Agreement shall continue in full force and effect to the full extent consistent with law. 

7.11 Headings. The headings of sections herein are included solely for convenience of reference and shall not affect the
meaning or interpretation of any provision of this Agreement. 
 7.12 Notices. All notices, requests, demands and
other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered by hand or mailed, certified or registered mail, return receipt requested, with postage prepaid, to the following addresses or to such other
address as either party may designate by like notice. If to the Bank, notice shall be given to the board of directors, Home Savings Bank, 2 South Carroll Street, Madison, Wisconsin 53703, or to such other or additional person or persons as the Bank
shall have designated to the Executive in writing. If to the Executive, notice shall be given to the Executive at the Executive’s address appearing on the Bank’s records, or to such other or additional person or persons as the Executive
shall have designated to the Bank in writing. 
 7.13 Automatic Review Procedure. On the fifth anniversary of the
Effective Date of this Agreement and every five years thereafter, the Bank shall automatically review this Agreement for reasonableness of benefits, with the intent that the Executive’s target benefit shall be 70.9% of compensation less
Bank-provided benefits. For purposes of this Agreement Bank-provided benefits shall include but shall not be limited to any 401(k) match, benefit accruals by the Bank under any pension plan, and the Bank portion of Social Security benefits. The term
“compensation” as used in this section means the base annual salary of the Executive projected at the Executive’s Normal Retirement Age. Base annual salary refers to compensation of the type that would be required to be reported by
Securities and Exchange Commission Rule 229.402(c) (17 CFR 229.402(c)), specifically column (c) of that rule’s Summary Compensation Table (or any successor provision), excluding director fees but including elective deferred compensation.

 7.14 Internal Revenue Code Section 280G Gross Up. (a) Additional payment to account for Excise
Taxes. If the Executive’s benefits under this Agreement or under any other plan or agreement of or with the Bank or its affiliates (together, the “Total Benefits”) are subject to the Excise Tax as set forth in Code sections 280G
and 4999 (the “Excise Tax”), the Bank shall pay to the Executive the following additional amounts, consisting of (x) a payment equal to the Excise Tax payable by the Executive on the Total Benefits under section 4999 of the
Code (the “Excise Tax Payment”), and (y) a payment equal to the amount necessary to provide the Excise Tax Payment net of all income, payroll and excise taxes. Together, the additional amounts described in clauses
(x) and (y) are referred to in this Agreement as the “Gross-Up Payment Amount.” 

  
 12 

 Calculating the Excise Tax. For purposes of determining whether any of the Total
Benefits will be subject to the Excise Tax and for purposes of determining the amount of the Excise Tax, 
  

	 	1)	Determination of “parachute payments” subject to the Excise Tax: any other payments or benefits received or to be received by the Executive in
connection with a Change in Control or the Executive’s Separation from Service (whether under the terms of this Agreement or any other agreement or any other benefit plan or arrangement with the Bank, any person whose actions result in a Change
in Control, or any person affiliated with the Bank or such person) shall be treated as “parachute payments” within the meaning of Code section 280G(b)(2), and all “excess parachute payments” within the meaning of section
280G(b)(l) shall be treated as subject to the Excise Tax, unless in the opinion of the certified public accounting firm that is retained by the Bank as of the date immediately before the Change in Control (the “Accounting Firm”) such other
payments or benefits do not constitute (in whole or in part) parachute payments, or such excess parachute payments represent (in whole or in part) reasonable compensation for services actually rendered within the meaning of Code section 280G(b)(4)
in excess of the “base amount” (as defined in Code section 280G(b)(3)), or are otherwise not subject to the Excise Tax, 

  

	 	2)	Calculation of benefits subject to the Excise Tax: the amount of the Total Benefits that shall be treated as subject to the Excise Tax shall be equal to the
lesser of (x) the total amount of the Total Benefits reduced by the amount of such Total Benefits that in the opinion of the Accounting Firm are not parachute payments, or (y) the amount of excess parachute payments within
the meaning of section 280G(b)(l) (after applying clause (1), above), and 

  

	 	3)	Value of noncash benefits and deferred payments: the value of any noncash benefits or any deferred payment or benefit shall be determined by the Accounting Firm
in accordance with the principles of Code sections 280G(d)(3) and (4). 

 Assumed Marginal Income Tax Rate.
For purposes of determining the amount of the Gross-Up Payment Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation in the calendar years in which the Gross-Up Payment Amount is to
be made and state and local income taxes at the highest marginal rate of taxation in the state and locality of the Executive’s residence on the date of Separation from Service, net of the reduction in federal income taxes that can be obtained
from deduction of state and local taxes (calculated by assuming that any reduction under Code section 68 in the amount of itemized deductions allowable to the Executive applies first to reduce the amount of state and local income taxes that would
otherwise be deductible by the Executive, and applicable federal FICA and Medicare withholding taxes). 
 Return of Reduced
Excise Tax Payment or Payment of Additional Excise Tax. If the Excise Tax is later determined to be less than the amount initially determined under this Agreement, the Executive shall repay to the Bank - when the amount of the reduction in
Excise Tax is finally determined - the portion of the Gross-Up Payment Amount attributable to the reduction (plus that portion of the Gross-Up Payment Amount attributable to the Excise Tax, federal, state and local income taxes and FICA and Medicare
withholding taxes imposed on the Gross-Up Payment Amount being repaid by the Executive to the extent that the repayment results in a reduction in Excise Tax, FICA, and Medicare withholding taxes and/or a federal, state, or local income tax
deduction). 

  
 13 

 If the Excise Tax is later determined to be more than the amount initially determined under
this Agreement (due, for example, to a payment whose existence or amount cannot be determined at the time of the Gross-Up Payment Amount), the Bank shall make an additional Gross-Up Payment Amount to the Executive for that excess (plus any interest,
penalties, or additions payable by the Executive for the excess) when the amount of the excess is finally determined. 
 (b)
Responsibilities of the Accounting Firm and the Bank. Determinations Shall Be Made bv the Accounting Firm. Subject to the provisions of section 7.14(a), all determinations required to be made under this section 7.14(b) - including
whether and when a Gross-Up Payment Amount is required, the amount of the Gross-Up Payment Amount and the assumptions to be used to arrive at the determination (collectively, the “Determination”) - shall be made by the Accounting Firm,
which shall provide detailed supporting calculations both to the Bank and the Executive within 15 business days after receipt of notice from the Bank or the Executive that there has been a Gross-Up Payment Amount, or such earlier time as is
requested by the Bank. 
 Fees and Expenses of the Accounting Firm and Agreement with the Accounting Firm. All fees and
expenses of the Accounting Firm shall be borne solely by the Bank. The Bank shall enter into any agreement requested by the Accounting Firm in connection with the performance of its services hereunder. 

Accounting Firm’s Opinion. If the Accounting Firm determines that no Excise Tax is payable by the Executive, the Accounting
Firm shall furnish the Executive with a written opinion to that effect, and to the effect that failure to report Excise Tax, if any, on the Executive’s applicable federal income tax return will not result in the imposition of a negligence or
similar penalty. 
 Accounting Firm’s Determination Is Binding: Underpayment and Overpayment. The Determination by
the Accounting Firm shall be binding on the Bank and the Executive. Because of the uncertainty when the Determination is made whether any of the Total Benefits will be subject to the Excise Tax, it is possible that a Gross-Up Payment Amount that
should have been made will not have been made by the Bank (“Underpayment”), or that a Gross-Up Payment Amount will be made that should not have been made by the Bank (“Overpayment”). If after a Determination by the Accounting
Firm the Executive is required to make a payment of additional Excise Tax, the Accounting Firm shall determine the amount of the Underpayment. The Underpayment (together with interest at the rate provided in Code section 1274(d)(2)(B)) shall be paid
promptly by the Bank to or for the benefit of the Executive. If the Gross-Up Payment Amount exceeds the amount necessary to reimburse the Executive for the Excise Tax according to section 7.14(a), the Accounting Firm shall determine the amount of
the Overpayment. The Overpayment (together with interest at the rate provided in Code section 1274(d)(2)(B)) shall be paid promptly by the Executive to or for the benefit of the Bank. Provided that the Executive’s expenses are reimbursed by the
Bank, the Executive shall cooperate with any reasonable requests by the Bank in any contests or disputes with the Internal Revenue Service relating to the Excise Tax. 
 Accounting Firm Conflict of Interest. If the Accounting Firm is serving as accountant or auditor for the individual, entity, or group effecting the Change in Control, the Executive may appoint
another nationally recognized public accounting firm to make the Determinations required hereunder (in which case the term “Accounting Firm” as used in this Agreement shall be deemed to refer to the accounting firm appointed by the
Executive). 

  
 14 

 ARTICLE 8 

ADMINISTRATION OF AGREEMENT 

8.1 Plan Administrator Duties. This Agreement shall be administered by a Plan Administrator consisting of the Board or such
committee or person as the Board shall appoint. The Executive may not be a member of the Plan Administrator. The Plan Administrator shall have the discretion and authority to (x) make, amend, interpret and enforce all appropriate rules
and regulations for the administration of this Agreement and (y) decide or resolve any and all questions that may arise, including interpretations of this Agreement. 

8.2 Agents. In the administration of this Agreement the Plan Administrator may employ agents and delegate to them such
administrative duties as it sees fit (including acting through a duly appointed representative) and may from time to time consult with counsel, who may be counsel to the Bank. 
 8.3 Binding Effect of Decisions. The decision or action of the Plan Administrator concerning any question arising out of the administration, interpretation, and application of the Agreement
and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in the Agreement. No Executive or Beneficiary shall be deemed to have any right, vested or nonvested, regarding the
continued use of any previously adopted assumptions, including but not limited to the discount rate and calculation method employed in the determination of the Accrual Balance. 

8.4 Indemnity of Plan Administrator. The Bank shall indemnify and hold harmless the members of the Plan Administrator against any
and all claims, losses, damages, expenses, or liabilities arising from any action or failure to act with respect to this Agreement, except in the case of willful misconduct by the Plan Administrator or any of its members. 

8.5 Bank Information. To enable the Plan Administrator to perform its functions, the Bank shall supply full and timely information
to the Plan Administrator on all matters relating to the date and circumstances of the retirement, Disability, death, or Separation from Service of the Executive and such other pertinent information as the Plan Administrator may reasonably require.

  
 15 

 IN WITNESS WHEREOF, the
Executive and a duly authorized Bank officer have signed this Amended Salary Continuation Agreement as of the date first written above. 
  

							
	THE EXECUTIVE	 		 	THE BANK:
		 		 	HOME SAVINGS BANK
				
	 /s/ James R. Bradley, Jr.
	 		 	By:	 	 [Illegible]

	James R. Bradley, Jr.	 		 	  
 Title:
	 	

  
 16EX-10.3

 Exhibit 10.3 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (this
“Agreement”) is made effective as of                  , 2013 (the “Effective Date”), by and between Home Savings Bank, a Wisconsin-chartered savings
bank (the “Bank”) and James R. Bradley, Jr. (“Executive”). The Bank and Executive are sometimes collectively referred to herein as the “parties.” Any reference to the “Company” shall mean Home Bancorp
Wisconsin, Inc., the holding company of the Bank. The Company is a signatory to this Agreement for the purpose of guaranteeing the Bank’s performance hereunder. 
 WITNESSETH 
 WHEREAS, Executive is currently employed as President
and Chief Executive Officer of the Bank; 
 WHEREAS, the Bank has adopted a Plan of Conversion pursuant to which the Bank
will convert from the mutual to the stock form of organization and become a wholly owned subsidiary of the Company; 

WHEREAS, the Bank desires to assure itself of the continued availability of the Executive’s services as provided in this
Agreement; and 
 WHEREAS, the Executive is willing to serve the Bank on the terms and conditions hereinafter set forth.

 NOW, THEREFORE, in consideration of the mutual covenants herein contained, and upon the terms and conditions
hereinafter provided, the parties hereby agree as follows: 
  

	1.	POSITION AND RESPONSIBILITIES. 

 During the term of this Agreement, Executive shall serve as a member of the board of directors of the Bank (the “Board”) and President and Chief Executive Officer of the Bank. Executive shall be
responsible for the overall management of the Bank, and shall be responsible for establishing the business objectives, policies and strategic plan of the Bank, in conjunction with the Board. Executive also shall be responsible for providing
leadership and direction to all departments or divisions of the Bank, and shall be the primary contact between the Board and the staff. As Chief Executive Officer, Executive shall directly report to the Board. Executive also shall be nominated as a
member of the Board, subject to election by members or shareholders of the Bank, as the case may be. Executive also agrees to serve, if elected, as an officer and director of any affiliate of the Bank. 

 

	2.	TERM AND DUTIES. 

 (a)
Three Year Contract; Annual Renewal. The term of this Agreement will begin as of the Effective Date and shall continue thereafter for a period of three (3) years. Beginning on the first annual anniversary date of this Agreement, and on
each annual anniversary date thereafter, the term of this Agreement shall be extended for a period of one year in addition to the then-remaining term; provided that (1) the Bank has not given notice to the Executive in

 
writing at least ninety (90) days prior to such renewal date that the term of this Agreement shall not be extended further; and (2) prior to such renewal date, the disinterested members
of the Board of Directors of the Bank (the “Board”) have explicitly reviewed and approved the extension and the results thereof shall be included in the minutes of the Board’s meeting. On an annual basis prior to the deadline for the
notice period referenced above, the Board shall conduct a performance review of the Executive for purposes of determining whether to provide notice of non-renewal. Reference herein to the term of this Agreement shall refer to both such initial term
and such extended terms. 
 (b) Termination of Agreement. Notwithstanding anything contained in this Agreement to the
contrary, either Executive or the Bank may terminate Executive’s employment with the Bank at any time during the term of this Agreement, subject to the terms and conditions of this Agreement. 

(c) Continued Employment Following Expiration of Term. Nothing in this Agreement shall mandate or prohibit a continuation of
Executive’s employment following the expiration of the term of this Agreement, upon such terms and conditions as the Bank and Executive may mutually agree. 
 (d) Duties; Membership on Other Boards. During the term of this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence
approved by the Board, Executive shall devote substantially all of his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation and
management of the Bank; provided, however, that, Executive may serve, or continue to serve, on the boards of directors of, and hold any other offices or positions in, business companies or business or civic organizations, which, in the Board’s
judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive’s duties pursuant to this Agreement. Executive shall provide the Board of Directors annually for its approval a list of
organizations for which the Executive acts as a director or officer. 
  

	3.	COMPENSATION, BENEFITS AND REIMBURSEMENT. 

 (a) Base Salary. In consideration of Executive’s performance of the duties set forth in Section 2, the Bank shall provide Executive the compensation specified in this Agreement. The Bank
shall pay Executive a salary of $         per year (“Base Salary”). The Base Salary shall be payable biweekly, or with such other frequency as officers of the Bank are generally paid. During the term
of this Agreement, the Base Salary shall be reviewed at least annually by the Board or by a committee designated by the Board, and the Bank may increase, but not decrease (except for a decrease that is generally applicable to all employees)
Executive’s Base Salary. Any increase in Base Salary shall become “Base Salary” for purposes of this Agreement. 

(b) Bonus and Incentive Compensation. Executive shall be entitled to equitable participation in incentive compensation and bonuses
in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under
this Agreement. 

  
 2 

 (c) Employee Benefits. The Bank shall provide Executive with employee benefit plans,
arrangements and perquisites substantially equivalent to those in which Executive was participating or from which he was deriving benefit immediately prior to the commencement of the term of this Agreement, and the Bank shall not, without
Executive’s prior written consent, make any changes in such plans, arrangements or perquisites that would adversely affect Executive’s rights or benefits thereunder, except as to any changes that are applicable to all participating
employees. Without limiting the generality of the foregoing provisions of this Section 3(c), Executive will be entitled to participate in and receive benefits under any employee benefit plans including, but not limited to, retirement plans,
supplemental retirement plans, pension plans, profit-sharing plans, health-and-accident insurance plans, medical coverage or any other employee benefit plan or arrangement made available by the Bank and/or the Company in the future to its senior
executives, including any stock benefit plans, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements. 
 (d) Paid Time Off. Executive shall be entitled to paid vacation time each year during the term of this Agreement (measured on a fiscal or calendar year basis, in accordance with the Bank’s
usual practices), as well as sick leave, holidays and other paid absences in accordance with the Bank’s policies and procedures for senior executives. Any unused paid time off during an annual period shall be treated in accordance with the
Bank’s personnel policies as in effect from time to time. 
 (e) Expense Reimbursements. The Bank shall also pay or
reimburse Executive for all reasonable travel, entertainment and other reasonable expenses incurred by Executive during the course of performing his obligations under this Agreement, including, without limitation, fees for memberships in such clubs
and organizations as Executive and the Board shall mutually agree are necessary and appropriate in connection with the performance of his duties under this Agreement, upon presentation to the Bank of an itemized account of such expenses in such form
as the Bank may reasonably require, provided that such payment or reimbursement shall be made as soon as practicable but in no event later than March 15 of the year following the year in which such right to such payment or reimbursement
occurred. 
  

	4.	PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION. 

 (a) Upon the occurrence of an Event of Termination (as herein defined) during the term of this Agreement, the provisions of this Section 4 shall apply; provided, however, that in the event such Event
of Termination occurs within eighteen (18) months following a Change in Control (as defined in Section 5 hereof), Section 5 shall apply instead. As used in this Agreement, an “Event of Termination’’ shall mean and
include any one or more of the following: 
 (i) the involuntary termination of Executive’s employment
hereunder by the Bank for any reason other than termination governed by Section 5 (in connection with or following a Change in Control), Section 6 (due to Disability), Section 7 (due to disability), Section 8 (due to Retirement),
or Section 9 (for Cause), provided that such termination constitutes a “Separation from Service” within the meaning of Section 409A of the Internal Revenue Code (“Code”); or 

  
 3 

 (ii) Executive’s resignation from the Bank’s employ upon any of
the following, unless consented to by Executive: 
 (A) failure to appoint Executive to the position set forth
in Section 1, or a material change in Executive’s function, duties, or responsibilities, which change would cause Executive’s position to become one of lesser responsibility, importance, or scope from the position and responsibilities
described in Section 1, to which Executive has not agreed in writing (and any such material change shall be deemed a continuing breach of this Agreement by the Bank); 

(B) a relocation of Executive’s principal place of employment to a location that is not within Dane County,
Wisconsin; 
 (C) a material reduction in the benefits and perquisites, including Base Salary, to Executive from
those being provided as of the Effective Date (except for any reduction that is part of a reduction in pay or benefits that is generally applicable to officers or employees of the Bank); 

(D) a liquidation or dissolution of the Bank; or 

(E) a material breach of this Agreement by the Bank. 
 Upon the occurrence of any event described in clause (ii) above, Executive shall have the right to elect to terminate his employment under this Agreement by resignation for “Good Reason”
upon not less than thirty (30) days prior written notice given within a reasonable period of time (not to exceed ninety (90) days) after the event giving rise to the right to elect, which termination by Executive shall be an Event of
Termination. The Bank shall have thirty (30) days to cure the condition giving rise to the Event of Termination, provided that the Bank may elect to waive said thirty (30) day period. 

(b) Upon the occurrence of an Event of Termination, the Bank shall pay Executive, or, in the event of his subsequent
death, his beneficiary or beneficiaries, or his estate, as the case may be, as severance pay or liquidated damages, or both, the Base Salary and bonuses that Executive would be entitled to for the remaining unexpired term of the Agreement. For
purposes of determining the bonus(es) payable hereunder, the bonus(es) will be deemed to be (i) equal to the highest bonus paid at any time during the prior three years, and (ii) otherwise paid at such time as such bonus would have been
paid absent an Event of Termination. Such payments shall be paid in a lump sum on the 30th day following the Executive’s Separation from Service (within the meaning of Section 409A of the Code) and shall not be reduced in the event Executive obtains other employment following the
Event of Termination. Notwithstanding the foregoing, Executive shall not be entitled to any payments or benefits under this Section 4 unless and until (i) Executive executes a release of his claims against the Bank, the Company and any
affiliate, and their officers, directors, successors and assigns, releasing said persons from any and all claims, rights, demands, causes of action, suits, arbitrations or grievances relating to the

  
 4 

 
employment relationship, including claims under the Age Discrimination in Employment Act, but not including claims for benefits under tax-qualified plans or other benefit plans in which Executive
is vested, claims for benefits required by applicable law or claims with respect to obligations set forth in this Agreement that survive the termination of this Agreement (the “Release”), and (ii) the payments and benefits shall begin
on the 30th day following the date of the Executive’s
Separation from Service, provided that before that date, the Executive has signed (and not revoked) the Release and the Release is irrevocable under the time period set forth under applicable law. 

(c) Upon the occurrence of an Event of Termination, the Bank shall pay Executive, or in the event of his subsequent death, his
beneficiary or beneficiaries, or his estate, as the case may be, a lump sum cash payment reasonably estimated to be equal to the present value of the contributions that would have been made on the Executive’s behalf under the Bank’s
defined contribution plans (e.g., 401(k) Plan, ESOP, and any other defined contribution plan maintained by the Bank), as if Executive had continued working for the Bank for the remaining unexpired term of the Agreement following such Event of
Termination, earning the salary that would have been achieved during such period. Such payments shall be paid in a lump sum within ten (10) days of the Executive’s Separation from Service and shall not be reduced in the event Executive
obtains other employment following the Event of Termination. 
 (d) Upon the occurrence of an Event of Termination, to the
extent permitted by applicable law, the Bank shall provide, at the Bank’s expense, continued non-taxable medical and dental coverage and life insurance coverage substantially comparable, as reasonably available, to the coverage maintained by
the Bank for Executive prior to the termination of his employment, except to the extent such coverage may be changed in its application to all Bank employees. This coverage shall cease upon the earlier of (i) the date Executive returns to the
full-time employment of the Bank; (ii) Executive’s full-time employment by another employer; (iii) the date Executive attains age sixty-five; or (iv) Executive’s death. If participation by the Executive is not permitted
under the terms of the applicable health plans, the Bank shall provide Executive with reimbursement of monthly premiums (payable on a monthly basis) paid by the Executive to obtain similar benefits during the covered period or for such shorter
period as permitted by applicable law (or for a shorter period that will not result in an excise or additional tax to the Bank); provided, however, that the reimbursement shall not exceed the cost of the monthly premiums for active employees.
 
 (e) For purposes of this Agreement, a “Separation from Service” shall have occurred if the Bank and Executive
reasonably anticipate that either no further services will be performed by the Executive after the date of the Event of Termination (whether as an employee or as an independent contractor) or the level of further services performed will not exceed
49% of the average level of bona fide services in the 12 months immediately preceding the Event of Termination. For all purposes hereunder, the definition of Separation from Service shall be interpreted consistent with Treasury Regulation
Section 1.409A-1(h)(ii). If Executive is a Specified Employee, as defined in Code Section 409A and any payment to be made under sub-paragraph (b) or (c) of this Section 4 shall be determined to be subject to Code
Section 409A, then if required by Code Section 409A, such payment or a portion of such payment (to the minimum extent possible) shall be delayed and shall be paid on the first day of the seventh month following Executive’s Separation
from Service. 

  
 5 

	5.	CHANGE IN CONTROL. 

 (a)
Any payments made to Executive pursuant to this Section 5 are in lieu of any payments that may otherwise be owed to Executive pursuant to this Agreement under Section 4, such that Executive shall either receive payments pursuant to
Section 4 or pursuant to Section 5, but not pursuant to both Sections. 
 (b) For purposes of this Agreement, the term
“Change in Control” shall mean: 
 (i) a change in control of a nature that would be required to be
reported in response to Item 5.01(a) of the current report on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), were the
Company’s equity shares registered under such Exchange Act; or 
 (ii) a change in control of the Bank
within the meaning of the Home Owner’s Loan Act, as amended (“HOLA”), and applicable rules and regulations promulgated thereunder, as in effect at the time of the Change in Control; or 

(iii) any of the following events, upon which a Change in Control shall be deemed to have occurred: 

(A) any “person” (as the term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Bank or the Company representing 25% or more of the combined voting power of such outstanding securities, except for any
securities purchased by any employee stock ownership plan or trust established by the Bank or the Company; or 

(B) individuals who constitute the Board on the Effective Date (the “Incumbent Board”) cease for any reason to
constitute at least a majority thereof, provided that any person becoming a director subsequent to the Effective Date whose election was approved by a vote of at least three-quarters of the directors comprising the Incumbent Board, or whose
nomination for election by stockholders of the Bank or the Company was approved by the same Nominating Committee serving under an Incumbent Board, shall be, for purposes of this subsection (B), considered as though they were members of the Incumbent
Board; or 
 (C) a sale of all or substantially all the assets of the Bank or the Company, or a plan of
reorganization, merger, consolidation, or similar transaction occurs in which the security holders of the Bank or the Company immediately prior to the consummation of the transaction do not own at least 50.1% of the securities of the surviving
entity to be outstanding upon consummation of the transaction; or 
 (D) a proxy statement is issued soliciting
proxies from stockholders of the Bank or the Company by someone other than the current 

  
 6 

 
management of the Bank or the Company of the Bank, seeking stockholder approval of a plan of reorganization, merger or consolidation of the Bank or the Company, or similar transaction with one or
more corporations as a result of which the outstanding shares of the class of securities then subject to the plan are to be exchanged for or converted into cash or property or securities not issued by the Bank or the Company; or 

(E) a tender offer is made for 25% or more of the voting securities of the Bank or the Company, and stockholders owning
beneficially or of record 25% or more of the outstanding securities of the Bank or the Company have tendered or offered to sell their shares pursuant to such tender offer and such tendered shares have been accepted by the tender offeror. 

(F) Notwithstanding anything herein to the contrary, a Change in Control shall not be deemed to have occurred in
connection with the initial reorganization and conversion of the Bank to a stock Bank as a subsidiary of the Company. 
 (c)
Upon the occurrence of a Change in Control followed within eighteen (18) months by an Event of Termination (as defined in Section 4 hereof), Executive, shall receive as severance pay or liquidated damages, or both, a lump sum cash payment
equal to three times the sum of (i) Executive’s highest annual rate of Base Salary paid to Executive at any time under this Agreement, plus (ii) the highest bonus paid to Executive with respect to the three completed fiscal years
prior to the Change in Control. Such payment shall be paid in a lump sum within ten (10) days of the Executive’s Separation from Service (within the meaning of Section 409A of the Code) and shall not be reduced in the event Executive
obtains other employment following the Event of Termination. 
 (d) Upon the occurrence of a Change in Control followed within
eighteen (18) months by an Event of Termination (as defined in Section 4 hereof), the Bank shall pay Executive, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, a lump sum cash
payment reasonably estimated to be equal to the present value of the contributions that would have been made on Executive’s behalf under the Bank’s defined contribution plans (e.g., 401(k) Plan, ESOP, and any other defined contribution
plan maintained by the Bank), as if Executive had continued working for the Bank for thirty-six (36) months after the effective date of such termination of employment, earning the salary that would have been achieved during such period. Such
payments shall be paid in a lump sum within ten (10) days of the Executive’s Separation from Service and shall not be reduced in the event Executive obtains other employment following the Event of Termination. If Executive is a Specified
Employee, as defined in Code Section 409A and any payment to be made under this sub-paragraph (c) or (d) of this Section 5 shall be determined to be subject to Code Section 409A, then if required by Code Section 409A,
such payment or a portion of such payment (to the minimum extent possible) shall be delayed and shall be paid on the first day of the seventh month following Executive’s Separation from Service. 

(e) Upon the occurrence of a Change in Control followed within eighteen (18) months by an Event of Termination (as defined in
Section 4 hereof), the Bank (or its successor) 

  
 7 

 
shall provide at the Bank’s (or its successor’s) expense, to the extent permitted by applicable law, the Bank shall cause to be continued non-taxable medical and dental coverage and
life insurance coverage substantially comparable to the coverage maintained by the Bank for Executive prior to the termination of his employment, except to the extent such coverage may be changed in its application to all Bank employees. This
coverage shall cease upon the earlier of (i) the date Executive returns to the full-time employment of the successor Bank; (ii) Executive’s full-time employment by another employer; (iii) the date Executive attains age
sixty-five; or (iv) Executive’s death. If participation by the Executive is not permitted under the terms of the applicable health plans, the successor Bank shall provide Executive with reimbursement of monthly premiums (payable on a
monthly basis) paid by the Executive to obtain similar benefits during the covered period or for such shorter period as permitted by applicable law (or for a shorter period that will not result in an excise or additional tax to the Bank).

 (f) Notwithstanding the preceding paragraphs of this Section 5, in the event that the aggregate payments or benefits to
be made or afforded to Executive in the event of a Change in Control would be deemed to include an “excess parachute payment” under Section 280G of the Internal Revenue Code or any successor thereto, then such payments or benefits
shall be reduced to an amount, the value of which is one dollar ($1.00) less than an amount equal to three (3) times Executive’s “base amount,” as determined in accordance with Section 280G of the Code. In the event a
reduction is necessary, then the cash severance payable by the Bank pursuant to Section 5 shall be reduced by the minimum amount necessary to result in no portion of the payments and benefits payable by the Bank under Section 5 being
non-deductible to the Bank pursuant to Section 280G of the Code and subject to excise tax imposed under Section 4999 of the Code. 
  

	6.	TERMINATION FOR DISABILITY. 

 (a) Termination of Executive’s employment based on “Disability” shall be construed to comply with Section 409A of the Internal Revenue Code and shall be deemed to have occurred if:
(i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months;
(ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, Executive is receiving income replacement benefits for a period of
not less than three months under an accident and health plan covering employees of the Bank or the Company; or (iii) Executive is determined to be totally disabled by the Social Security Administration. The provisions of Sections 6(b) and
(c) shall apply upon the termination of the Executive’s employment based on Disability. Upon the determination that Executive has suffered a Disability, disability payments hereunder shall commence within thirty (30) days. 

(b) Executive shall be entitled to receive benefits under any short-term or long-term disability plan maintained by the Bank. To the
extent such benefits are less than Executive’s Base Salary, the Bank shall pay Executive an amount equal to the difference between such disability plan benefits and the amount of Executive’s Base Salary for one (1) year following the
termination of his employment due to Disability, which shall be payable in accordance with the regular payroll practices of the Bank. 

  
 8 

 (c) To the extent permitted by applicable law, the Bank shall cause to be continued
non-taxable medical and dental coverage substantially comparable, as reasonable available, to the coverage maintained by the Bank for Executive prior to the termination of his employment, except to the extent such coverage may be changed in its
application to all Bank employees. This coverage shall cease upon the earlier of (i) the date Executive returns to the full-time employment of the Bank; (ii) Executive’s full-time employment by another employer; (iii) the date
Executive attains age sixty-five; or (iv) Executive’s death. If participation by the Executive is not permitted under the terms of the applicable health plans, the Bank shall provide Executive with reimbursement (payable on a monthly
basis) of monthly premiums paid by the Executive to obtain similar benefits during the disability period or for such shorter period as permitted by applicable law (or for a shorter period that will not result in an excise or additional tax to the
Bank); provided, however, that the reimbursement shall not exceed the cost of the monthly premiums for active employees. 
  

	7.	TERMINATION FOR DEATH. 

In the event of Executive’s death during the term of this Agreement, the Bank shall continue to provide non-taxable medical, dental
and other insurance benefits normally provided for Executive’s family (in accordance with its customary co-pay percentages) for twelve (12) months after Executive’s death. 

 

	8.	TERMINATION UPON RETIREMENT. 

 Termination of Executive’s employment based on “Retirement” shall mean termination of Executive’s employment at any time after Executive reaches age 65 or in accordance with any
retirement policy established by the Board with Executive’s consent with respect to him. Upon termination of Executive based on Retirement, no amounts or benefits shall be due Executive under this Agreement, and Executive shall be entitled to
all benefits under any retirement plan of the Bank and other plans to which Executive is a party. 
  

	9.	TERMINATION FOR CAUSE. 

(a) The Bank may terminate Executive’s employment at any time, but any termination other than termination for “Cause,” as
defined herein, shall not prejudice Executive’s right to compensation or other benefits under this Agreement. Executive shall have no right to receive compensation or other benefits for any period after termination for “Cause.” The
term “Cause” as used herein, shall exist when there has been a good faith determination by the Board that there shall have occurred one or more of the following events with respect to the Executive: 

 

	 	(1)	personal dishonesty; 

  

	 	(2)	incompetence; 

  

	 	(3)	willful misconduct; 

  

	 	(4)	breach of fiduciary duty involving personal profit; 

  

	 	(5)	material breach of the Bank’s Code of Ethics; 

  
 9 

	 	(6)	material violation of the Sarbanes-Oxley requirements for officers of public companies that in the reasonable opinion of the Board will likely cause substantial
financial harm or substantial injury to the reputation of the Bank; 

  

	 	(7)	intentional failure to perform stated duties under this Agreement after written notice thereof from the Board; 

 

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

  

	 	(9)	material breach by Executive of any provision of this Agreement. 

 Notwithstanding the foregoing, Cause shall not be deemed to exist unless there shall have been delivered to the Executive a copy of a resolution duly adopted by the affirmative vote of not less than a
majority of the entire membership of the Board at a meeting of the Board called and held for the purpose (after reasonable notice to the Executive and an opportunity for the Executive to be heard before the Board), finding that in the good faith
opinion of the Board the Executive was guilty of conduct described above and specifying the particulars thereof. Prior to holding a meeting at which the Board is to make a final determination whether Cause exists, if the Board determines in good
faith at a meeting of the Board, by not less than a majority of its entire membership, that there is probable cause for it to find that the Executive was guilty of conduct constituting Cause as described above, the Board may suspend the Executive
from his duties hereunder for a reasonable period of time not to exceed fourteen (14) days pending a further meeting at which the Executive shall be given the opportunity to be heard before the Board. Upon a finding of Cause, the Board shall
deliver to the Executive a Notice of Termination, as more fully described in Section 11 below. 
 (b) For purposes of this
Section 10, no act or failure to act, on the part of Executive, shall be considered “willful” unless it is done, or omitted to be done, by Executive in bad faith or without reasonable belief that Executive’s action or omission
was in the best interests of the Bank. Any act, or failure to act, based upon the direction of the Board or based upon the advice of counsel for the Bank shall be conclusively presumed to be done, or omitted to be done, by Executive in good faith
and in the best interests of the Bank. 
  

	10.	RESIGNATION FROM BOARDS OF DIRECTORS 

 In the event of Executive’s termination of employment due to an Event of Termination, Executive’s service as a director of the Bank, the Company, and any affiliate of the Bank or the Company
shall immediately terminate. This Section 10 shall constitute a resignation notice for such purposes. 

  
 10 

	11.	NOTICE. 

 (a) Any
purported termination by the Bank for Cause shall be communicated by Notice of Termination to Executive. If, within thirty (30) days after any Notice of Termination for Cause is given, Executive notifies the Bank that a dispute exists
concerning the termination, the parties shall promptly proceed to arbitration, as provided in Section 21. Notwithstanding the pendency of any such dispute, the Bank shall discontinue paying Executive’s compensation until the dispute is
finally resolved in accordance with this Agreement. If it is determined that Executive is entitled to compensation and benefits under Section 4 or 5, the payment of such compensation and benefits by the Bank shall commence immediately following
the date of resolution by arbitration, with interest due Executive on the cash amount that would have been paid pending arbitration (at the prime rate as published in The Wall Street Journal from time to time). 

(b) Any other purported termination by the Bank or by Executive shall be communicated by a “Notice of Termination” (as defined
in Section 11(c)) to the other party. If, within thirty (30) days after any Notice of Termination is given, the party receiving such Notice of Termination notifies the other party that a dispute exists concerning the termination, the
parties shall promptly proceed to arbitration as provided in Section 21. Notwithstanding the pendency of any such dispute, the Bank shall continue to pay Executive his Base Salary, and other compensation and benefits in effect when the notice
giving rise to the dispute was given (except as to termination of Executive for Cause); provided, however, that such payments and benefits shall not continue beyond the date that is 36 months from the date the Notice of Termination is given. In the
event the voluntary termination by Executive of his employment is disputed by the Bank, and if it is determined in arbitration that Executive is not entitled to termination benefits pursuant to this Agreement, he shall return all cash payments made
to him pending resolution by arbitration, with interest thereon at the prime rate as published in The Wall Street Journal from time to time, if it is determined in arbitration that Executive’s voluntary termination of employment was not
taken in good faith and not in the reasonable belief that grounds existed for his voluntary termination. If it is determined that Executive is entitled to receive severance benefits under this Agreement, then any continuation of Base Salary and
other compensation and benefits made to Executive under this Section 11 shall offset the amount of any severance benefits that are due to Executive under this Agreement. 
 (c) For purposes of this Agreement, a “Notice of Termination” shall mean a written notice that shall indicate the specific termination provision in this Agreement relied upon and shall set forth
in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated. 
  

	12.	POST-TERMINATION OBLIGATIONS. 

 (a) Executive hereby covenants and agrees that, for a period of one year following his termination of employment with the Bank, he shall not, without the written consent of the Bank, either directly or
indirectly: 
 (i) solicit, offer employment to, or take any other action intended (or that a reasonable person
acting in like circumstances would expect) to have the effect of 

  
 11 

 
causing any officer or employee of the Bank or the Company, or any of their respective subsidiaries or affiliates, to terminate his or her employment and accept employment or become affiliated
with, or provide services for compensation in any capacity whatsoever to, any business whatsoever that competes with the business of the Bank or the Company, or any of their direct or indirect subsidiaries or affiliates or has headquarters or
offices within Dane County, Wisconsin; 
 (ii) become an officer, employee, consultant, director, independent
contractor, agent, sole proprietor, joint venturer, greater than 5% equity owner or stockholder, partner or trustee of any savings association, savings and loan association, savings and loan holding company, credit union, bank or bank holding
company, insurance company or agency, any mortgage or loan broker or any other financial services entity or business that competes with the business of the Bank or its affiliates or has headquarters within Dane County, Wisconsin; provided, however,
that this restriction shall not apply if Executive’s employment is terminated following a Change in Control or if Executive does not have any right to or waives (or returns to the Bank) any payments under Section 4 hereof; or 

(b) As used in this Agreement, “Confidential Information” means information belonging to the Bank which is of value to the Bank
in the course of conducting its business and the disclosure of which could result in a competitive or other disadvantage to the Bank. Confidential Information includes, without limitation, financial information, reports, and forecasts; inventions,
improvements and other intellectual property; trade secrets; know-how; designs, processes or formulae; software; market or sales information or plans; customer lists; and business plans, prospects and opportunities (such as possible acquisitions or
dispositions of businesses or facilities) which have been discussed or considered by the management of the Bank. Confidential Information includes information developed by the Executive in the course of the Executive’s employment by the Bank,
as well as other information to which the Executive may have access in connection with the Executive’s employment. Confidential Information also includes the confidential information of others with which the Bank has a business relationship.
Notwithstanding the foregoing, Confidential Information does not include information in the public domain. The Executive understands and agrees that the Executive’s employment creates a relationship of confidence and trust between the Executive
and the Bank with respect to all Confidential Information. At all times, both during the Executive’s employment with the Bank and after its termination, the Executive will keep in confidence and trust all such Confidential Information, and will
not use or disclose any such Confidential Information without the written consent of the Bank, except as may be necessary in the ordinary course of performing the Executive’s duties to the Bank. 

(c) Executive shall, upon reasonable notice, furnish such information and assistance to the Bank as may reasonably be required by the
Bank, in connection with any litigation in which it or any of its subsidiaries or affiliates is, or may become, a party; provided, however, that Executive shall not be required to provide information or assistance with respect to any litigation
between the Executive and the Bank or any of its subsidiaries or affiliates. 
 (d) All payments and benefits to Executive under
this Agreement shall be subject to Executive’s compliance with this Section 12. The parties hereto, recognizing that irreparable 

  
 12 

 
injury will result to the Bank, its business and property in the event of Executive’s breach of this Section 12, agree that, in the event of any such breach by Executive, the Bank will
be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Executive and all persons acting for or with Executive. Executive represents and admits that Executive’s experience and
capabilities are such that Executive can obtain employment in a business engaged in other lines and/or of a different nature than the Bank, and that the enforcement of a remedy by way of injunction will not prevent Executive from earning a
livelihood. Nothing herein will be construed as prohibiting the Bank or the Company from pursuing any other remedies available to them for such breach or threatened breach, including the recovery of damages from Executive. 

 

	13.	SOURCE OF PAYMENTS. 

 All
payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Bank. The Company may accede to this Agreement but only for the purposed of guaranteeing payment and provision of all amounts and benefits due
hereunder to Executive. 
  

	14.	EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS. 

 This Agreement contains the entire understanding between the parties hereto and supersedes any prior employment agreement between the Bank or any predecessor of the Bank and Executive, except that this
Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind elsewhere provided. No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits than
those available to him without reference to this Agreement. 
  

	15.	NO ATTACHMENT; BINDING ON SUCCESSORS. 

 (a) Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation,
or to execution, attachment, levy, or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to effect any such action shall be null, void, and of no effect. 

(b) This Agreement shall be binding upon, and inure to the benefit of, Executive and the Bank and their respective successors and
assigns. 
  

	16.	MODIFICATION AND WAIVER. 

(a) This Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto. 

(b) No term or condition of this Agreement shall be deemed to have been waived, nor shall there be any estoppel against the enforcement
of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate
only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future as to any act other than that specifically waived. 

  
 13 

	17.	REQUIRED PROVISIONS. 

 (a)
The Bank may terminate Executive’s employment at any time, but any termination by the Board other than termination for Cause shall not prejudice Executive’s right to compensation or other benefits under this Agreement. Executive shall have
no right to receive compensation or other benefits for any period after termination for Cause. 
 (b) Notwithstanding anything
herein contained to the contrary, any payments to Executive by the Bank or the Company, whether 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. Section 1828(k), and the regulations promulgated thereunder in 12 C.F.R. Part 359. 
  

	18.	SEVERABILITY. 

 If, for
any reason, any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision of this Agreement or any part of such provision not held so invalid, and each such other provision and
part thereof shall to the full extent consistent with law continue in full force and effect. 
  

	19.	HEADINGS FOR REFERENCE ONLY. 

 The headings of sections and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement. 

 

	20.	GOVERNING LAW. 

 This
Agreement shall be governed by the laws of the State of Wisconsin except to the extent superseded by federal law. 
  

	21.	ARBITRATION. 

 Any dispute
or controversy arising under or in connection with this Agreement shall be settled exclusively by binding arbitration, as an alternative to civil litigation and without any trial by jury to resolve such claims, conducted by a panel of three
arbitrators sitting in a location selected by Executive within fifty (50) miles from the main office of the Bank, in accordance with the rules of the American Arbitration Bank’s National Rules for the Resolution of Employment Disputes
(“National Rules”) then in effect. One arbitrator shall be selected by Executive, one arbitrator shall be selected by the Bank and the third arbitrator shall be selected by the arbitrators selected by the parties. If the arbitrators are
unable to agree within fifteen (15) days upon a third arbitrator, the arbitrator shall be appointed for them from a panel of arbitrators selected in accordance with the National Rules. Judgment may be entered on the arbitrator’s award in
any court having jurisdiction. 

  
 14 

	22.	INDEMNIFICATION. 

 (a)
Executive shall be provided with coverage under a standard directors’ and officers’ liability insurance policy, and shall be indemnified for the term of this Agreement and for a period of six years thereafter to the fullest extent
permitted under applicable 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
Bank or any affiliate (whether or not he continues to be a director or officer at the time of incurring such expenses or liabilities), such expenses and liabilities to include, but not be limited to, judgments, court costs and attorneys’ fees
and the cost of reasonable settlements (such settlements must be approved by the Board), provided, however, Executive shall not be indemnified or reimbursed for legal expenses or liabilities incurred in connection with an action, suit or proceeding
arising from any illegal or fraudulent act committed by Executive. Any such indemnification shall be made consistent with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. §1828(k), and the regulations issued thereunder in 12
C.F.R. Part 359. 
 (b) Any indemnification by the Bank shall be subject to compliance with any applicable regulations of the
Federal Deposit Insurance Corporation. 
  

	23.	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 when delivered or mailed by certified or registered mail, return receipt requested, postage
prepaid, addressed to the respective addresses set forth below: 
  

					
	To the Bank:	 		 	  

			
	To Executive:	 		 	  

		 		 	 At the address last appearing on

the personnel records of the Bank

  
 15 

 IN WITNESS WHEREOF, the Bank and the Company have caused this Agreement to be
executed by their duly authorized representatives, and Executive has signed this Agreement, on the date first above written. 
  

			
	HOME SAVINGS BANK
		
	By:	 	  

		 	Member of the Board
	
	HOME BANCORP WISCONSIN, INC.
		
	By:	 	  

		 	Member of the Board
	
	EXECUTIVE:
	
	  

	James R. Bradley, Jr.

  
 16

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