Document:

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                                Exhibit 10(A)(2)

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                            JACKSONVILLE SAVINGS BANK

                              EMPLOYMENT AGREEMENT

     This Agreement is made effective as of the 16th day of March 2004, by and
between Jacksonville Savings Bank (the "Bank"), an Illinois chartered savings
institution, with its principal administrative office at 1211 West Morton
Avenue, Jacksonville, Illinois 62650-2000 and Richard A. Foss ("Executive"). Any
reference to "Company" herein shall mean Jacksonville Bancorp, Inc. or any
successor thereto.

     WHEREAS, Executive has been employed by the Bank since 1986 and is
presently its President and Chief Executive Officer; and

     WHEREAS, the Bank wishes to retain the services of Executive as an employee
of the Bank for the period provided in this Agreement; and

     WHEREAS, Executive is willing to serve in the employ of the Bank on a
full-time basis for said period.

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

1.   POSITION AND RESPONSIBILITIES

     During the period of his employment hereunder, Executive agrees to serve as
President and Chief Executive Officer of the Bank. During said period, Executive
also agrees to serve, if elected, as an officer and director of any subsidiary
or affiliate of the Bank. Failure to reelect Executive as President and Chief
Executive Officer without the consent of the Executive during the term of this
Agreement shall constitute a breach of this Agreement.

2.   TERMS AND DUTIES

     (a)  The period of Executive's employment under this Agreement shall begin
as of the date first above written and shall continue for a period of thirty-six
(36) full calendar months thereafter. Commencing on the first anniversary date
of this Agreement, and continuing at each anniversary date thereafter, the
Agreement shall renew for an additional year such that the remaining term shall
be three (3) years unless written notice is provided to Executive at least ten
(10) days and not more than thirty (30) days prior to any such anniversary date,
that his employment shall cease at the end of twenty-four (24) months following
such anniversary date. Prior to each notice period for non-renewal, the
disinterested members of the Board of Directors of the Bank ("Board") will
conduct a comprehensive performance evaluation and review of the Executive for
purposes of determining whether to extend the Agreement, and the results thereof
shall be included in the minutes of the Board's meeting.

     (b)  During the period of his employment hereunder, except for periods of
absence occasioned by illness, reasonable vacation periods, and reasonable
leaves of absence, Executive shall devote substantially all 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, with the approval
of the Board, as evidenced by a resolution of such Board, from time to time,
Executive may serve, or continue to serve, on the boards of directors of, and
hold any other offices or positions in, companies or organizations, which, in
such 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. Nothing in this Section shall be construed as preventing the
Executive from serving from time to time on boards, committees, or holding
positions of non-profit or governmental organizations, including religious and
civic groups, without the need for Board approval.

3.   COMPENSATION AND REIMBURSEMENT

     (a)  The compensation specified under this Agreement shall constitute the
salary and benefits paid for the duties described in Section 2(b). The Bank
shall pay Executive as compensation a salary of not less than $124,200 per year
("Base Salary"). Such Base Salary shall be payable biweekly. During the period
of this

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Agreement, Executive's Base Salary shall be reviewed at least annually; the
first such review will be made no later than January 31 of each year during the
term of this Agreement and shall be effective from the first day of said month
through the end of the calendar year. Such review shall be conducted by a
Committee designated by the Board, and the Board may increase, but not decrease,
Executive's Base Salary (any increase in Base Salary shall become the "Base
Salary" for purposes of this Agreement). In addition to the Base Salary provided
in this Section 3(a), the Bank shall provide Executive at no cost to Executive
with all such other benefits as are provided uniformly to permanent full-time
employees of the Bank.

     (b)  The Bank will provide Executive with employee benefit plans,
arrangements and perquisites substantially equivalent to those in which
Executive was participating or otherwise deriving benefit from immediately prior
to the beginning of the term of this Agreement, and the Bank will not, without
Executive's prior written consent, make any changes in such plans, arrangements
or perquisites which would adversely affect Executive's rights or benefits
thereunder. Without limiting the generality of the foregoing provisions of this
Subsection (b), Executive will be entitled to participate in or 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 plans, medical coverage or any other employee benefit plan
or arrangement made available by the Bank in the future to its senior executives
and key management employees, subject to and on a basis consistent with the
terms, conditions and overall administration of such plans and arrangements.
Executive will be entitled to incentive compensation and bonuses as provided in
any plan of the Bank in which Executive is eligible to participate. Nothing paid
to the Executive under any such plan or arrangement will be deemed to be in lieu
of other compensation to which the Executive is entitled under this Agreement.

     (c)  In addition to the Base Salary provided for by paragraph (a) of this
Section 3, the Bank shall pay or reimburse Executive for all reasonable travel
and other reasonable expenses incurred by Executive performing his obligations
under this Agreement and may provide such additional compensation in such form
and such amounts as the Board may from time to time determine.

     (d)  Compensation and reimbursement to be paid pursuant to paragraphs (a),
(b) and (c) of this Section 3 shall be paid by the Bank and the Company,
respectively on a pro rata basis based upon the amount of service the Executive
devotes to the Bank and Company, respectively.

     (e)  In addition to the foregoing, Executive shall be entitled to receive
fees for serving as a director of the Bank in the same amount and on the same
terms as fees are paid to other directors of the Bank.

4.   PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION

     The provisions of this Section shall in all respects be subject to the
terms and conditions stated in Sections 8 and 15.

     (a)  The provisions of this Section shall apply upon the occurrence of an
Event of Termination (as herein defined) during the Executive's term of
employment under this Agreement. As used in this Agreement, an "Event of
Termination" shall mean and include any one or more of the following: (i) the
termination by the Bank or the Company of Executive's full-time employment
hereunder for any reason other than, (A) Disability or Retirement as defined in
Section 6 below, (B) a Change in Control, as defined in Section 5(a) hereof, or
(C) Termination for Cause as defined in Section 7 hereof; or (ii) Executive's
resignation from the Bank's employ, upon any (A) failure to elect or reelect or
to appoint or reappoint Executive as President and Chief Executive Officer, (B)
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 attributes thereof described in
Section 1, above, (C) a relocation of Executive's principal place of employment
by more than 30 miles from its location at the effective date of this Agreement,
or a material reduction in the benefits and perquisites to the Executive from
those being provided as of the effective date of this Agreement, (D) liquidation
or dissolution of the Bank or Company other than liquidations or dissolutions
that are caused by reorganizations that do not affect the status of Executive,
or (E) any other breach of this Agreement by the Bank. Upon the occurrence of
any event described in clauses (ii)(A), (B), (C), (D) or (E), above, Executive
shall have the right to elect to terminate his employment under this Agreement
by resignation upon sixty (60) days prior written notice given within a
reasonable period of time not to exceed four calendar months after the initial
event giving rise to said right to elect. Notwithstanding the preceding
sentence, in

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the event of a continuing breach of this Agreement by the Bank, the Executive,
after giving due notice within the prescribed time frame of an initial event
specified above, shall not waive any of his rights solely under this Agreement
and this Section 4 by virtue of the fact that Executive has submitted his
resignation but has remained in the employment of the Bank and is engaged in
good faith discussions to resolve any occurrence of an event described in
clauses (A), (B), (C), (D) and (E) above.

     (b)  Upon the occurrence of an Event of Termination, on the Date of
Termination, as defined in Section 8, 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, a sum equal
to the greater of the payments due for the remaining term of the Agreement or
three (3) times the average of the three preceding years' Base Salary, including
bonuses and any other cash compensation paid to the Executive during such years,
and the amount of any benefits received pursuant to any employee benefit plans
on behalf of the Executive, maintained by the Bank during such years; provided,
however, that if the Bank is not in compliance with its minimum capital
requirements or if such payments would cause the Bank's capital to be reduced
below its minimum capital requirements, such payments shall be deferred until
such time as the Bank is in capital compliance, and provided further, that in no
event shall total severance compensation from all sources exceed three times the
Executive's Base Salary for the immediately preceding year. At the election of
the Executive, which election is to be made on an annual basis during the month
of January, and which election is irrevocable for the year in which made and
upon the occurrence of an Event of Termination, such payments shall be made in a
lump sum or paid monthly during the remaining term of the Agreement following
the Executive's termination. In the event that no election is made, payment to
the Executive will be made on a monthly basis during the remaining term of the
Agreement. Such payments shall not be reduced in the event the Executive obtains
other employment following termination of employment.

     (c)  Notwithstanding the provisions of Sections 4(a) and (b), and in the
event that there has not been a Change in Control as defined in Section 5(a),
upon the voluntary termination by the Executive upon giving sixty days notice to
the Bank (which shall not be deemed to constitute an "Event of Termination" as
defined herein), the Bank, at the discretion of the Board of Directors, shall
pay Executive, or in the event of his subsequent death, his beneficiary or
beneficiaries, or his estate, as the case may be, a severance payment in an
amount to be determined by the Board of Directors at the time of such voluntary
termination by the Executive. Such severance payment shall not exceed three (3)
times the average of the three preceding years' Base Salary, including bonuses
and any other cash compensation paid to the Executive during such years, and the
amount of any benefits received pursuant to any employee benefit plans, on
behalf of the Executive, maintained by the Bank during such years; provided,
however, that if the Bank is not in compliance with its minimum capital
requirements or if such payments would cause the Bank's capital to be reduced
below its minimum capital requirements, such payments shall be deferred until
such time as the Bank is in capital compliance, and provided further, that in no
event shall total severance compensation from all sources exceed three times the
Executive's Base Salary for the immediately preceding year. At the election of
the Executive, which election is to be made on an annual basis during the month
of January, and which election is irrevocable for the year in which made and
upon the voluntary termination of the Executive in accordance with this Section
4(c), any payments shall be made in a lump sum or paid monthly during the
remaining term of the agreement following the Executive's termination. In the
event that no election is made, any payment to the Executive will be made on a
monthly basis during the remaining term of the Agreement. Such payments shall
not be reduced in the event the Executive obtains other employment following
termination of employment.

     (d)  Upon the occurrence of an Event of Termination, the Bank will cause to
be continued life, medical, dental and disability coverage substantially
identical to the coverage maintained by the Bank for Executive prior to his
termination, provided that such benefits shall not be provided in the event they
should constitute an unsafe or unsound banking practice relating to executive
compensation and employment contracts pursuant to applicable regulations, as is
now or hereafter in effect. Such coverage shall cease upon the expiration of the
remaining term of this Agreement.

5.   CHANGE IN CONTROL

     (a)  No benefit shall be payable under this Section 5 unless there shall
have been a Change in Control of the Bank or Company, as set forth below. For
purposes of this Agreement, a "Change in Control" of the Bank or Company shall
mean an event of a nature that (i) would be required to be reported in response
to Item 1(a) of the

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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 (the "Exchange Act"), or (ii)
results in a Change in Control of the Bank or the Company within the meaning of
the Home Owners' Loan Act, as amended and applicable rules and regulations
promulgated thereunder as in effect at the time of the Change in Control; or
(iii) without limitation such a Change in Control shall be deemed to have
occurred at such time as (a) any "person" (as the term is used in Sections 13(d)
and 14(d) of the Exchange Act) is or becomes a "beneficial owner" (as defined in
Rule 13d-3 of the Exchange Act) directly or indirectly, of securities of the
Company representing 25% or more of the Company's outstanding securities except
for any securities purchased by the Bank's employee stock ownership plan or
trust; (b) individuals who constitute the Board on the date hereof (the
"Incumbent Board") cease for any reason to constitute at least a majority
thereof; (c) a plan of reorganization, merger, consolidation, sale of all or
substantially all the assets of the Bank or Company or similar transaction in
which the Bank or the Company is not the surviving institution occurs; (d) a
proxy statement soliciting proxies from stockholders of the Company, by someone
other than the then current Board of Directors of the Company, seeking
stockholder approval of a plan of reorganization, merger or consolidation of the
Company or similar transaction with one or more corporations as a result of
which the outstanding shares of the common stock of the Company are exchanged
for or converted into cash or property or securities not issued by the Company;
or (e) a tender offer is made for 25% or more of the voting securities of the
Company and the shareholders owning beneficially or of record 25% or more of the
outstanding securities of 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.

     Notwithstanding, the foregoing, a "Change in Control" of the Bank or the
Company shall not be deemed to have occurred in connection with the conversion
of Jacksonville Bancorp, MHC to stock form.

     For these purposes, "Incumbent Board" means, in the case of the Company,
the Board of Directors of the Company, respectively, on the date hereof,
provided that any person becoming a director subsequent to the date hereof whose
election was approved by a vote of at least threequarters of the directors
comprising the Incumbent Board, or whose nomination for election by members or
stockholders was approved by the same nominating committee serving under an
Incumbent Board, shall be considered as though he were a member of the Incumbent
Board.

     (b)  If any of the events described in Section 5(a) hereof constituting a
Change in Control have occurred, Executive shall be entitled to the benefits
provided in paragraphs (c), (d), (e), (f), (g) and (h) of this Section 5 upon
his subsequent termination of employment at any time during the term of this
Agreement, regardless of whether such termination results from (i) his
resignation or (ii) his dismissal upon the Change in Control.

     (c)  Upon the occurrence of a Change in Control followed by the Executive's
termination of employment, 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, a sum equal to the
greater of the payments due for the remaining term of the Agreement or 2.99
times the average of the five preceding years' Base Salary, including bonuses
and any other cash compensation paid to the Executive during such years, and the
amount of any contributions made to any employee benefit plans, on behalf of the
Executive, maintained by the Bank during such years. Such payment shall be made
by the Bank on the Date of Termination. At the election of the Executive, which
election shall be made on an annual basis during the month of January, and which
election is irrevocable for the year in which made and upon the occurrence of a
Change in Control, such payment may be made in a lump sum or paid in equal
monthly installments during the thirty-six (36) months following the Executive's
termination. In the event that no election is made, payment to the Executive
will be made on a monthly basis during the remaining term of the Agreement.

     (d)  Upon the occurrence of a Change in Control followed by the Executive's
termination of employment, the Bank will cause to be continued life, medical,
dental and disability coverage substantially identical to the coverage
maintained by the Bank for Executive prior to his severance. Such coverage and
payments shall cease upon the expiration of thirty-six (36) months.

     (e)  Upon the occurrence of a Change in Control, Executive will be entitled
to any benefits granted to him pursuant to any Stock Option Plan of the Bank or
Holding Company.

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     (f)  Upon the occurrence of a Change in Control the Executive will be
entitled to any benefits awarded to him under the Bank's Recognition and
Retention Plan or any restricted stock plan in effect.

     (g)  Notwithstanding the preceding paragraphs of this Section 5, in the
event that:

          (i)  the aggregate payments or benefits to be made or afforded to
               Executive under said paragraphs (the "Termination Benefits")
               would be deemed to include an "excess parachute payment" under
               Section 280G of the Code or any successor thereto, and

          (ii) if such Termination Benefits were reduced to an amount (the
               "Non-Triggering Amount"), the value of which is one dollar
               ($1.00) less than an amount equal to the total amount of payments
               permissible under Section 280G of the Code or any successor
               thereto, then the Termination Benefits to be paid to Executive
               shall be so reduced so as to be a Non-Triggering Amount. The
               Executive, in his sole discretion, shall determine which benefit
               or benefits shall be reduced. (h) Notwithstanding the foregoing,
               there will be no reduction in the compensation otherwise payable
               to Executive during any period during which Executive is
               incapable of performing his duties hereunder by reason of
               temporary disability.

     (i)  Any payments made to Executive pursuant to this Agreement or
otherwise, are subject to and conditioned upon their compliance with 12 U.S.C.
ss. 1818(k) and any applicable regulations promulgated thereunder.

     (j)  The Executive shall not be entitled to any payments pursuant to this
Section 5 if the Bank is not in compliance with its minimum capital requirements
or if such payments would cause the Bank's capital to be reduced below its
minimum capital requirements, such payments shall be deferred until such times
as the Bank is in capital compliance.

     (k)  Notwithstanding the foregoing, if after the application of
subparagraph (g) above, it is determined that the Executive received an excess
parachute payment despite the reduction in the Executive's Termination Benefits,
the excess of such Termination Benefits paid to the Executive over 2.99 times
the Executive's "base amount", as defined in Section 280G of the Code, shall be
treated as a loan to the Executive and the Executive shall be required to repay
such amount to the Bank or the Company, or the successor of the Bank or the
Company, within ten years of the date of such determination, with interest at
the prime rate, as set forth from time to time in The Wall Street Journal.

6.   TERMINATION UPON RETIREMENT OR DISABILITY

     Termination by the Bank of the Executive based on "Retirement" shall mean
termination in accordance with the Bank's retirement policy or in accordance
with any retirement arrangement established with Executive's consent with
respect to him. Upon termination of Executive upon Retirement, Executive shall
be entitled to all benefits under any retirement plan of the Bank and other
plans to which Executive is a party.

     Termination by the Bank of Executive's employment based on "Disability"
shall mean termination because of any physical or mental impairment which
qualifies the Executive for disability benefits under the applicable long-term
disability plan maintained by the Bank or, if no such plan applies, which would
qualify the Executive for disability benefits under the federal social security
system. In the event Executive is unable to perform his duties under this
Agreement on a full-time basis for a period of six (6) consecutive months by
reason of Disability, the Bank may terminate this Agreement, provided that the
Bank shall continue to be obligated to pay Executive his Base Salary, including
bonuses and any other cash compensation paid to Executive during such period for
the remaining term of this Agreement, or one (1) year, whichever is the longer
period of time, and provided further that any amounts actually paid to Executive
pursuant to any disability insurance or other similar such program which the
Bank has provided or may provide on behalf of its employees or pursuant to any
workman's or social security disability program shall reduce the compensation to
be paid to Executive pursuant to this paragraph.

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     In the event of Executive's death during the term of this Agreement, his
estate, legal representatives or named beneficiaries (as directed by Executive
in writing) shall be paid Executive's Base Salary at the rate in effect at the
time of Executive's death for a period of one (1) year from the date of
Executive's death, and the Bank will continue to provide medical, dental, family
and other benefits normally provided for Executive's family for one (1) year
after Executive's death.

7.   TERMINATION FOR CAUSE

     The term "Termination for Cause' shall mean termination because of the
Executive's personal dishonesty, incompetence, willful misconduct, any breach of
fiduciary duty involving personal profit, intentional failure to perform stated
duties, willful violation of any law, rule, or regulation (other than traffic
violations or similar offenses) or final cease-and-desist order, or material
breach of any provision of this Agreement. In determining incompetence, the acts
or omissions shall be measured against standards generally prevailing in the
savings institutions industry. For purposes of this paragraph, no act or failure
to act on the part of Executive shall be considered "willful" unless done, or
omitted to be done, by the Executive not in good faith and without reasonable
belief that the Executive's action or omission was in the best interest of the
Bank. Notwithstanding the foregoing, Executive shall not be deemed to have been
Terminated for Cause unless and until there shall have been delivered to him a
copy of a resolution duly adopted by the affirmative vote of not less than
three-fourths of the members of the Board at a meeting of the Board called and
held for that purpose (after reasonable notice to Executive and an opportunity
for him, together with counsel, to be heard before the Board), finding that in
the good faith opinion of the Board, Executive was guilty of conduct justifying
Termination for Cause and specifying the particulars thereof in detail. The
Executive shall not have the right to receive compensation or other benefits for
any period after Termination for Cause. Any stock options granted to Executive
under any stock option plan of the Bank, the Company or any subsidiary or
affiliate thereof, shall not be exercisable upon Executive's receipt of Notice
of Termination for Cause pursuant to Section 8 hereof, and shall be null and
void subsequent to Executive's Termination for Cause, unless such Termination
for Cause is found to be wrongful or such dispute is otherwise decided in
Executive's favor, as set forth in Section 8(c) hereof.

8.   NOTICE

     (a)  Any purported termination by the Bank or by Executive shall be
communicated by Notice of Termination to the other party hereto. For purposes of
this Agreement, a "Notice of Termination" shall mean a written notice which
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.

     (b)  "Date of Termination" shall mean the date specified in the Notice of
Termination (which, in the case of a Termination for Cause, shall not be less
than thirty (30) days from the date such Notice of Termination is given).

     (c)  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, except upon the occurrence of a
Change in Control and voluntary termination by the Executive in which case the
Date of Termination shall be the date specified in the Notice, the Date of
Termination shall be the date on which the dispute is finally determined, either
by mutual written agreement of the parties, by a binding arbitration award, or
by a final judgment, order or decree of a court of competent jurisdiction (the
time for appeal having expired and no appeal having been perfected) and provided
further that the Date of Termination shall be extended by a notice of dispute
only if such notice is given in good faith and the party giving such notice
pursues the resolution of such dispute with reasonable diligence.
Notwithstanding the pendency of any such dispute, the Bank will continue to pay
Executive his full compensation in effect when the notice giving rise to the
dispute was given (including, but not limited to, Base Salary) and continue
Executive as a participant in all compensation, benefit and insurance plans in
which he was participating when the notice of dispute was given, until the
dispute is finally resolved in accordance with this Agreement, provided such
dispute is resolved within nine months after the Date of Termination specified
in the Notice or Termination; notwithstanding the foregoing no compensation or
benefits shall be paid to Executive in the event the Executive is Terminated for
Cause. In the event that such Termination for Cause is found to have been
wrongful or such dispute is otherwise decided in Executive's favor, the
Executive shall be entitled to receive all compensation and benefits

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which accrued for up to a period of nine months after the Termination for Cause.
If such dispute is not resolved within such nine-month period, the Bank shall
not be obligated, upon final resolution of such dispute, to pay Executive
compensation and other payments accruing more than nine months from the Date of
the Termination specified in the Notice of Termination. Amounts paid under this
Section are in addition to all other amounts due under this Agreement and shall
not be offset against or reduce any other amounts due under this Agreement.

9.   POST-TERMINATION OBLIGATIONS

     (a)  All payments and benefits to Executive under this Agreement shall be
subject to Executive's compliance with paragraph (b) of this Section 9 during
the term of this Agreement and for one (1) full year after the expiration or
termination hereof.

     (b)  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.

10.  NON-COMPETITION

     (a)  Upon any termination of Executive's employment hereunder pursuant to
Section 4(c) hereof, Executive agrees not to compete with the Bank and/or the
Company for a period of one (1) year following such termination in any city,
town or county in which the Bank and/or the Company has an office or has filed
an application for regulatory approval to establish an office, determined as of
the effective date of such termination, except as agreed to pursuant to a
resolution duly adopted by the Board. Executive agrees that during such period
and within said cities, towns and counties, Executive shall not work for or
advise, consult or otherwise serve with, directly or indirectly, any entity
whose business materially competes with the depository, lending or other
business activities of the Bank and/or the Company. The parties hereto,
recognizing that irreparable injury will result to the Bank and/or the Company,
its business and property in the event of Executive's breach of this Subsection
10(a) agree that in the event of any such breach by Executive, the Bank and/or
the Company will be entitled, in addition to any other remedies and damages
available, to an injunction to restrain the violation hereof by Executive,
Executive's partners, agents, servants, employers, employees and all persons
acting for or with Executive. Nothing herein will be construed as prohibiting
the Bank and/or the Company from pursuing any other remedies available to the
Bank and/or the Company for such breach or threatened breach, including the
recovery of damages from Executive.

     (b)  Executive recognizes and acknowledges that the knowledge of the
business activities and plans for business activities of the Bank and affiliates
thereof, as it may exist from time to time, is a valuable, special and unique
asset of the business of the Bank. Executive will not, during or after the term
of his employment, disclose any knowledge of the past, present, planned or
considered business activities of the Bank or affiliates thereof to any person,
firm, corporation, or other entity for any reason or purpose whatsoever.
Notwithstanding the foregoing, Executive may disclose any knowledge of banking,
financial and/or economic principles, concepts or ideas which are not solely and
exclusively derived from the business plans and activities of the Bank, and
Executive may disclose any information regarding the Bank or the Company which
is otherwise publicly available. In the event of a breach or threatened breach
by the Executive of the Provisions of this Section 10, the Bank will be entitled
to an injunction restraining Executive from disclosing, in whole or in part, the
knowledge of the past, present, planned or considered business activities of the
Bank or affiliates thereof, or from rendering any services to any person, firm,
corporation, other entity to whom such knowledge, in whole or in part, has been
disclosed or is threatened to be disclosed. Nothing herein will be construed as
prohibiting the Bank from pursuing any other remedies available to the Bank for
such breach or threatened breach, including the recovery of damages from
Executive.

11.  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, however, guarantees
payment and provision of all amounts and benefits due hereunder to Executive
and, if such amounts and benefits due from the Bank are not timely paid or
provided by the Bank, such amounts and benefits shall be paid or provided by the
Company.

12.  EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS

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     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 the 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.

13.  NO ATTACHMENT

     (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 affect 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.

14.  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.

15.  REQUIRED PROVISIONS

     (a)  Notwithstanding anything herein contained to the contrary, any
payments to the Executive by the Company are subject to and conditioned upon
their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12
U.S.C. ss. 1828(k), and the regulations promulgated thereunder- in 12 C.F.R.
Part 359.

16.  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.

17.  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.

18.  GOVERNING LAW

     This Agreement shall be governed by the laws of the State of Illinois, but
only to the extent not superseded by federal law.

19.  ARBITRATION

     Any dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by arbitration in accordance with the
rules of the American Arbitration Association then in effect. Judgment may be
entered on the arbitrator's award in any court having jurisdiction; provided,
however, that Executive shall be entitled

<PAGE>

to seek specific performance of his right to be paid until the Date of
Termination during the pendency of any dispute or controversy arising under or
in connection with this Agreement.

20.  PAYMENT OF LEGAL FEES

     All reasonable legal fees paid or incurred by Executive pursuant to any
dispute or question of interpretation relating to this Agreement shall be paid
or reimbursed by the Bank, provided that the dispute or interpretation has been
settled by Executive and the Bank or resolved in the Executive's favor.

21.  INDEMNIFICATION

     The Bank shall provide Executive (including his heirs, executors and
administrators) with coverage under a standard directors' and officers'
liability insurance policy at its expense, or in lieu thereof, shall indemnify
Executive (and his heirs, executors and administrators) to the fullest extent
permitted under federal 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 (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 of Directors of the Bank). If such action, suit or
proceeding is brought against Executive in his capacity as an officer or
director of the Bank, however, such indemnification shall not extend to matters
as to which Executive is finally adjudged to be liable for willful misconduct in
the performance of his duties. No Indemnification shall be paid that would
violate 12 U.S.C. ss. 1828(K) or any regulations promulgated thereunder.

22.  SUCCESSOR TO THE BANK

     The Bank shall require any successor or assignee, whether direct or
indirect, by purchase, merger, consolidation or otherwise, to all or
substantially all the business or assets of the Bank or the Company, expressly
and unconditionally to assume and agree to perform the Bank's obligations under
this Agreement, in the same manner and to the same extent that the Bank would be
required to perform if no such succession or assignment had taken place.

<PAGE>

                                   SIGNATURES

     IN WITNESS WHEREOF, the Bank has caused this Agreement to be executed and
their seals to be affixed hereunto by its duly authorized officer, and Executive
has signed this Agreement, on the day and date first above written.

ATTEST:                                              JACKSONVILLE SAVINGS BANK

/s/ Diana S. Tone                           By:      /s/ Andrew F. Applebee
-----------------------                              ---------------------------
                                                     Chairman of the Board

[SEAL]

WITNESS:                                             EXECUTIVE

/s/ Stacy L. Shade                          By:      /s/ Richard A. Foss
-----------------------                              ---------------------------
                                                     Richard A. Foss<PAGE>

                                Exhibit 10(A)(3)

<PAGE>

                            JACKSONVILLE SAVINGS BANK
                              EMPLOYMENT AGREEMENT

     This Agreement is made effective as of the 13th day of January, 2004, by
and between Jacksonville Savings Bank (the "Bank"), an Illinois chartered
savings institution, with its principal administrative office at 1211 West
Morton Avenue, Jacksonville, Illinois 62650-2000 and John Williams ("Mr.
Williams"). Any reference to "Company" herein shall mean Jacksonville Bancorp,
Inc. or any successor thereto.

     WHEREAS, Mr. Williams has been employed by the Bank as Senior Vice
President since July 2000; and

     WHEREAS, the Bank wishes to retain the services of Mr. Williams as an
employee of the Bank for the period provided in this Agreement; and

     WHEREAS, Mr. Williams is willing to serve in the employ of the Bank on a
full-time basis for said period.

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

1.   POSITION AND RESPONSIBILITIES

     During the period of his employment hereunder, Mr. Williams agrees to serve
as Senior Vice President of the Bank. During said period, Mr. Williams shall be
considered a senior officer of the Bank and shall attend regular monthly board
meetings of the Bank. Failure to reelect Mr. Williams as Senior Vice President
without the consent of Mr. Williams during the term of this Agreement shall
constitute a breach of this Agreement.

2.   TERMS AND DUTIES

     (a)  The period of Mr. Williams's employment under this Agreement shall
begin as of the date first above written and shall continue for a period of
twelve (12) full calendar months thereafter. Commencing on the first anniversary
date of this Agreement, and continuing at each anniversary date thereafter, the
Agreement shall renew for an additional year such that the remaining term shall
be twelve (12) full calendar months; provided, however, if written notice of
nonrenewal is provided to Mr. Williams at least ten (10) days and not more than
thirty (30) days prior to any anniversary date, the employment of Mr. Williams
hereunder shall cease at the end of twelve (12) months following such
anniversary date.

     (b)  During the period of his employment hereunder, except for periods of
absence occasioned by illness, reasonable vacation periods, and reasonable
leaves of absence, Mr. Williams shall devote substantially all 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, with the approval
of the Board, as evidenced by a resolution of such Board, from time to time, Mr.
Williams may serve, or continue to serve, on the boards of directors of, and
hold any other offices or positions in, companies or organizations, which, in
such Board's judgment, will not present any conflict of interest with the Bank,
or materially affect the performance of Mr. Williams's duties pursuant to this
Agreement. Nothing in this Section shall be construed as preventing Mr. Williams
from serving from time to time on boards, committees, or holding positions of
non-profit or governmental organizations, including religious and civic groups,
without the need for Board approval.

3.   COMPENSATION AND REIMBURSEMENT

     (a)  The compensation specified under this Agreement shall constitute the
salary and benefits paid for the duties described in Section 2(b). The Bank
shall pay Mr. Williams as compensation a salary of not less than $89,160 per
year ("Base Salary"). Such Base Salary shall be payable biweekly. During the
period of this Agreement, Mr. Williams's Base Salary shall be reviewed at least
annually. Such review shall be conducted by a Committee designated by the Board,
and the Board may increase Mr. Williams's Base Salary. Any such increase in Base
Salary shall be consistent with increases awarded to other senior officers of
the Bank. In addition to the Base Salary

<PAGE>

provided in this Section 3(a), the Bank shall provide Mr. Williams at no cost to
Mr. Williams with all such other benefits as are provided uniformly to permanent
full-time employees of the Bank.

     (b)  In addition to Mr. Williams's Base Salary, Mr. Williams will be
entitled to participate in or 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 plans, medical coverage
or any other employee benefit plan or arrangement made available by the Bank in
the future to its senior executives and key management employees, subject to and
on a basis consistent with the terms, conditions and overall administration of
such plans and arrangements. Mr. Williams will be eligible for incentive
compensation and bonuses as provided in any plan of the Bank in which Mr.
Williams is eligible to participate. Nothing paid to Mr. Williams under any such
plan or arrangement will be deemed to be in lieu of other compensation to which
Mr. Williams is entitled under this Agreement.

     (c)  Mr. Williams shall also be entitled to regular director's fees if Mr.
Williams serves as a director on the Bank's Board of Directors.

     (d)  Compensation and reimbursement to be paid pursuant to paragraphs (a),
(b) and (c) of this Section 3 shall be paid by the Bank and the Company,
respectively on a pro rata basis based upon the amount of service Mr. Williams
devotes to the Bank and Company, respectively.

4.   PAYMENTS TO MR. WILLIAMS UPON AN EVENT OF TERMINATION

     The provisions of this Section shall in all respects be subject to the
terms and conditions stated in Sections 8 and 15.

     (a)  The provisions of this Section shall apply upon the occurrence of an
Event of Termination (as herein defined) during Mr. Williams's term of
employment under this Agreement. As used in this Agreement, an "Event of
Termination" shall mean and include any one or more of the following: (i) the
termination by the Bank or the Company of Mr. Williams's full-time employment
hereunder for any reason other than, (A) Disability or Retirement as defined in
Section 6 below, (B) a Change in Control, as defined in Section 5(a) hereof, or
(C) Termination for Cause as defined in Section 7 hereof; or (ii) Mr. Williams's
resignation from the Bank's employ, upon any (A) failure to elect or reelect or
to appoint or reappoint Mr. Williams as Senior Vice President, (B) material
change in Mr. Williams's function, duties, or responsibilities, which change
would cause Mr. Williams's position to become one of lesser responsibility,
importance, or scope from the position and attributes thereof described in
Section 1, above, (C) liquidation or dissolution of the Bank or Company other
than liquidations or dissolutions that are caused by reorganizations that do not
affect the status of Mr. Williams, or (D) breach of this Agreement by the Bank.
Upon the occurrence of any event described in clauses (ii)(A), (B), (C) or (D),
above, Mr. Williams shall have the right to elect to terminate his employment
under this Agreement without prejudice to his rights under this Agreement, by
resignation upon sixty (60) days prior written notice given within a reasonable
period of time not to exceed four calendar months after the initial event giving
rise to said right to elect. Notwithstanding the preceding sentence, in the
event of a continuing breach of this Agreement by the Bank, Mr. Williams, after
giving due notice within the prescribed time frame of an initial event specified
above, shall not waive any of his rights solely under this Agreement and this
Section 4 by virtue of the fact that Mr. Williams has submitted his resignation
but has remained in the employment of the Bank and is engaged in good faith
discussions to resolve any occurrence of an event described in clauses (A), (B),
(C) or (D) above.

     (b)  Upon the occurrence of an Event of Termination, on the Date of
Termination, as defined in Section 8, the Bank shall pay Mr. Williams, 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, a
sum equal to the greater of the payments due for the remaining term of the
Agreement or one (1) times Mr. Williams's Base Salary for the immediately
preceding twelve (12) months, including bonuses and any other cash compensation
paid to Mr. Williams during such period, and the amount of any benefits received
pursuant to any employee benefit plans on behalf of Mr. Williams, maintained by
the Bank during such period; PROVIDED, HOWEVER, that if the Bank is not in
compliance with its minimum capital requirements or if such payments would cause
the Bank's capital to be reduced below its minimum capital requirements, such
payments shall be deferred until such time as the Bank is in capital compliance,
and provided further, that in no event shall total severance compensation from
all sources exceed three

<PAGE>

times Mr. Williams's Base Salary for the immediately preceding year. At the
election of Mr. Williams, which election is to be made on an annual basis during
the month of January, and which election is irrevocable for the year in which
made and upon the occurrence of an Event of Termination, such payments shall be
made in a lump sum or paid monthly during the remaining term of the Agreement or
twelve (12) months, whichever is longer, following Mr. Williams's termination.
In the event that no election is made, payment to Mr. Williams will be made on a
monthly basis during the remaining term of the Agreement or twelve (12) months,
whichever is longer. Such payments shall not be reduced in the event Mr.
Williams obtains other employment following termination of employment.

     (c)  Upon the occurrence of an Event of Termination, the Bank will cause to
be continued life, medical and disability coverage substantially identical to
the coverage maintained by the Bank for Mr. Williams prior to his termination,
provided that such benefits shall not be provided in the event they should
constitute an unsafe or unsound banking practice relating to executive
compensation and employment contracts pursuant to applicable regulations, as is
now or hereafter in effect. Such coverage shall cease upon the expiration of the
remaining term of this Agreement.

5.   CHANGE IN CONTROL

     (a)  No benefit shall be payable under this Section 5 unless there shall
have been a Change in Control of the Bank or Company, as set forth below. For
purposes of this Agreement, a "Change in Control" of the Bank or Company (a)
shall mean an event of a nature that would be required to be reported in
response to Item 1 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
(the "Exchange Act"), or results in a Change in Control of the Bank or the
Company within the meaning of the Home Owners Loan Act, as amended and
applicable rules and regulations promulgated thereunder as in effect at the time
of the Change in Control; or (b) without limitation shall be deemed to have
occurred at such time as (i) any "person" (as the term is used in Section 13(d)
and 14(d) of the Exchange Act) other than the Company is or becomes a
"beneficial owner" (as defined in Rule 13-d under the Exchange Act) directly or
indirectly, of securities of the Bank representing 25 % or more of the Bank's
outstanding securities ordinarily having the right to vote at the election of
directors except for any securities of the Bank received by the Company in
connection with the Reorganization and any securities purchased by the Bank's
employee stock ownership plan and trust shall not be counted in determining
whether such plan is the beneficial owner of more than 25 % of the Bank's
securities, (ii) a proxy statement soliciting proxies from stockholders of the
Bank, by someone other than the current management of the Bank, seeking
stockholder approval of a plan of reorganization, merger or consolidation of the
Company of the Bank 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 or transaction are exchanged or converted into cash or property or
securities not issued by the Bank or the Company, or (iii) a tender offer is
made for 25 or more of the voting securities of the Bank and the shareholders
owning beneficially or of record 25 % or more of the outstanding securities of
the Bank have tendered or offered to sell their shares pursuant to such tender
offer and such tendered shares have been accepted by the tender offeror.

     Notwithstanding, the foregoing, a "Change in Control" of the Bank or the
Company shall not be deemed to have occurred in connection with the conversion
of Jacksonville Bancorp, MHC to stock form.

     For these purposes, "Incumbent Board" means, in the case of the Company or
the Bank, the Board of Directors of the Company or the Bank, respectively, on
the date hereof, provided that any person becoming a director subsequent to the
date hereof 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 members or stockholders was approved by the same nominating committee serving
under an Incumbent Board, shall be considered as though he were a member of the
Incumbent Board.

     (b)  If any of the events described in Section 5(a) hereof constituting a
Change in Control have occurred, Mr. Williams shall be entitled to the benefits
provided in paragraphs (c), (d), (e), (1), (g) and (h) of this Section 5 upon
his subsequent termination of employment at any time during the term of this
Agreement, regardless of whether such termination results from (i) his
resignation or (ii) his dismissal upon the Change in Control.

<PAGE>

     (c)  Upon the occurrence of a Change in Control followed by Mr. Williams's
termination of employment, the Bank shall pay Mr. Williams, 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, a sum equal to the
greater of the payments due for the remaining term of the Agreement or one (1)
times Mr. Williams's Base Salary for the immediately preceding twelve (12)
months, including bonuses and any other cash compensation paid to Mr. Williams
during such period, and the amount of any contributions made to any employee
benefit plans, on behalf of Mr. Williams, maintained by the Bank during such
years. Such payment shall be made by the Bank on the Date of Termination. At the
election of Mr. Williams, which election shall be made on an annual basis during
the month of January, and which election is irrevocable for the year in which
made and upon the occurrence of a Change in Control, such payment may be made in
a lump sum or paid in equal monthly installments during the remaining term of
the Agreement or twelve (12) months, whichever is longer, following Mr.
Williams's termination. In the event that no election is made, payment to Mr.
Williams will be made on a monthly basis during the remaining term of the
Agreement.

     (d)  Upon the occurrence of a Change in Control followed by Mr. Williams's
termination of employment, the Bank will cause to be continued life, medical,
dental and disability coverage substantially identical to the coverage
maintained by the Bank for Mr. Williams prior to his severance. Such coverage
and payments shall cease upon the expiration of the remaining term of the
Agreement or twelve (12) months, whichever is longer.

     (e)  Upon the occurrence of a Change in Control, Mr. Williams will be
entitled to any benefits granted to his pursuant to any Stock Option Plan of the
Bank or Company.

     (f)  Upon the occurrence of a Change in Control, Mr. Williams will be
entitled to any benefits awarded to him under the Bank's Recognition and
Retention Plan or any restricted stock plan in effect. (g) Notwithstanding the
preceding paragraphs of this Section 5, in the event that:

          (i)  the aggregate payments or benefits to be made or afforded to Mr.
               Williams under said paragraphs (the "Termination Benefits") would
               be deemed to include an "excess parachute payment" under Section
               280G of the Code or any successor thereto, and

          (ii) if such Termination Benefits were reduced to an amount (the
               "Non-Triggering Amount"), the value of which is one dollar
               ($1.00) less than an amount equal to the total amount of payments
               permissible under Section 280G of the Code or any successor
               thereto,

then the Termination Benefits to be paid to Mr. Williams shall be so reduced so
as to be a Non-Triggering Amount.

     (h)  Notwithstanding the foregoing, there will be no reduction in the
compensation otherwise payable to Mr. Williams during any period during which
Mr. Williams is incapable of performing his duties hereunder by reason of
temporary disability.

     (i)  Any payments made to Mr. Williams pursuant to this Agreement or
otherwise, are subject to and conditioned upon their compliance with 12 U.S.C.
ss. 1818(k) and any applicable regulations promulgated thereunder.

     (j)  Mr. Williams shall not be entitled to any payments pursuant to this
Section 5 if the Bank is not in compliance with its minimum capital requirements
or if such payments would cause the Bank's capital to be reduced below its
minimum capital requirements, such payments shall be deferred until such times
as the Bank is in capital compliance and provided further, that in no event
shall total severance compensation from all sources exceed three times Mr.
Williams's Base Salary for the immediately preceding year.

6.   TERMINATION UPON RETIREMENT OR DISABILITY

     Termination by the Bank of Mr. Williams based on "Retirement" shall mean
termination in accordance with the Bank's retirement policy or in accordance
with any retirement arrangement established with Mr. Williams's consent with
respect to him. Upon termination of Mr. Williams upon Retirement, Mr. Williams
shall be entitled to all benefits under any retirement plan of the Bank and
other plans to which Mr. Williams is a party.

<PAGE>

     Termination by the Bank of Mr. Williams's employment based on "Disability"
shall mean termination because of any physical or mental impairment which
qualifies Mr. Williams for disability benefits under the applicable long-term
disability plan maintained by the Bank or, if no such plan applies, which would
qualify Mr. Williams for disability benefits under the federal social security
system.

7.   TERMINATION FOR CAUSE

     The term "Termination for Cause" shall mean termination because of Mr.
Williams's personal dishonesty, incompetence, willful misconduct, any breach of
fiduciary duty involving personal profit, intentional failure to perform stated
duties, willful violation of any law, rule, or regulation (other than traffic
violations or similar offenses) or final cease-and-desist order, or material
breach of any provision of this Agreement. In determining incompetence, the acts
or omissions shall be measured against standards generally prevailing in the
savings institutions industry. For purposes of this paragraph, no act or failure
to act on the part of Mr. Williams shall be considered "willful" unless done, or
omitted to be done, by Mr. Williams not in good faith and without reasonable
belief that Mr. Williams's action or omission was in the best interest of the
Bank. Notwithstanding the foregoing, Mr. Williams shall not be deemed to have
been Terminated for Cause unless and until there shall have been delivered to
him a copy of a resolution duly adopted by the affirmative vote of not less than
three-fourths of the members of the Board at a meeting of the Board called and
held for that purpose (after reasonable notice to Mr. Williams and an
opportunity for him, together with counsel, to be heard before the Board),
finding that in the good faith opinion of the Board, Mr. Williams was guilty of
conduct justifying Termination for Cause and specifying the particulars thereof
in detail. Mr. Williams shall not have the right to receive compensation or
other benefits for any period after Termination for Cause. Any stock options
granted to Mr. Williams under any stock option plan of the Bank, the Company or
any subsidiary or affiliate thereof, shall become null and void effective upon
Mr. Williams's receipt of Notice of Termination for Cause pursuant to Section 8
hereof, and shall not be exercisable by Mr. Williams at any time subsequent to
such Termination for Cause.

8.   NOTICE

     (a)  Any purported termination by the Bank or by Mr. Williams shall be
communicated by Notice of Termination to the other party hereto. For purposes of
this Agreement, a "Notice of Termination" shall mean a written notice which
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 Mr. Williams's employment under the provision
so indicated.

     (b)  "Date of Termination" shall mean the date specified in the Notice of
Termination (which, in the case of a Termination for Cause, shall not be less
than thirty (30) days from the date such Notice of Termination is given).

     (c)  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, except upon the occurrence of a
Change in Control and voluntary termination by Mr. Williams in which case the
Date of Termination shall be the date specified in the Notice, the Date of
Termination shall be the date on which the dispute is finally determined, either
by mutual written agreement of the parties, by a binding arbitration award, or
by a final judgment, order or decree of a court of competent jurisdiction (the
time for appeal having expired and no appeal having been perfected) and provided
further that the Date of Termination shall be extended by a notice of dispute
only if such notice is given in good faith and the party giving such notice
pursues the resolution of such dispute with reasonable diligence.
Notwithstanding the pendency of any such dispute, the Bank will continue to pay
Mr. Williams his full compensation in effect when the notice giving rise to the
dispute was given (including, but not limited to, Base Salary) and continue Mr.
Williams as a participant in all compensation, benefit and insurance plans in
which he was participating when the notice of dispute was given, until the
dispute is finally resolved in accordance with this Agreement, provided such
dispute is resolved within nine months after the Date of Termination specified
in the Notice or Termination; notwithstanding the foregoing no compensation or
benefits shall be paid to Mr. Williams in the event Mr. Williams is Terminated
for Cause. In the event that such Termination for Cause is found to have been
wrongful or such dispute is otherwise decided in Mr. Williams's favor, Mr.
Williams shall be entitled to receive all compensation and benefits which
accrued but were unpaid following the Termination for Cause. Amounts paid

<PAGE>

under this Section are in addition to all other amounts due under this Agreement
and shall not be offset against or reduce any other amounts due under this
Agreement.

9.   POST-TERMINATION OBLIGATIONS

     (a)  All payments and benefits to Mr. Williams under this Agreement shall
be subject to Mr. Williams's compliance with paragraph (b) of this Section 9
during the term of this Agreement and for one (1) full year after the expiration
or termination hereof.

     (b)  Mr. Williams 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.

10.  NON-COMPETITION

     (a)  Upon any termination of Mr. Williams's employment hereunder pursuant
to Section 4(a) hereof, Mr. Williams agrees not to compete with the Bank and/or
the Company for a period of one (1) year following such termination in any city,
town or county in which the Bank and/or the Company has an office or has filed
an application for regulatory approval to establish an office, determined as of
the effective date of such termination, except as agreed to pursuant to a
resolution duly adopted by the Board. Mr. Williams agrees that during such
period and within said cities, towns and counties, Mr. Williams shall not work
for or advise, consult or otherwise serve with, directly or indirectly, any
entity whose business materially competes with the depository, lending or other
business activities of the Bank and/or the Company. The parties hereto,
recognizing that irreparable injury will result to the Bank and/or the Company,
its business and property in the event of Mr. Williams's breach of this
Subsection 10(a) agree that in the event of any such breach by Mr. Williams, the
Bank and/or the Company will be entitled, in addition to any other remedies and
damages available, to an injunction to restrain the violation hereof by Mr.
Williams, Mr. Williams's partners, agents, servants, employers, employees and
all persons acting for or with Mr. Williams. Nothing herein will be construed as
prohibiting the Bank and/or the Company from pursuing any other remedies
available to the Bank and/or the Company for such breach or threatened breach,
including the recovery of damages from Mr. Williams.

     (b)  Mr. Williams recognizes and acknowledges that the knowledge of the
business activities and plans for business activities of the Bank and affiliates
thereof, as it may exist from time to time, is a valuable, special and unique
asset of the business of the Bank. Mr. Williams will not, during or after the
term of his employment, disclose any knowledge of the past, present, planned or
considered business activities of the Bank or affiliates thereof to any person,
firm, corporation, or other entity for any reason or purpose whatsoever.
Notwithstanding the foregoing, Mr. Williams may disclose any knowledge of
banking, financial and/or economic principles, concepts or ideas which are not
solely and exclusively derived from the business plans and activities of the
Bank, and Mr. Williams may disclose any information regarding the Bank or the
Company which is otherwise publicly available. In the event of a breach or
threatened breach by Mr. Williams of the provisions of this Section 10, the Bank
will be entitled to an injunction restraining Mr. Williams from disclosing, in
whole or in part, the knowledge of the past, present, planned or considered
business activities of the Bank or affiliates thereof, or from rendering any
services to any person, firm, corporation, other entity to whom such knowledge,
in whole or in part, has been disclosed or is threatened to be disclosed.
Nothing herein will be construed as prohibiting the Bank from pursuing any other
remedies available to the Bank for such breach or threatened breach, including
the recovery of damages from Mr. Williams.

11.  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, however, guarantees
payment and provision of all amounts and benefits due hereunder to Mr. Williams
and, if such amounts and benefits due from the Bank are not timely paid or
provided by the Bank, such amounts and benefits shall be paid or provided by the
Company.

12.  EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS

<PAGE>

     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 Mr. Williams.

13.  NO ATTACHMENT

     (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 affect any such action shall be null,
void, and of no effect.

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

14.  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.

15.  REQUIRED PROVISIONS

     Notwithstanding anything herein contained to the contrary, any payments to
the Executive by the Company 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.

16.  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.

17.  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.

18.  GOVERNING LAW

     This Agreement shall be governed by the laws of the State of Illinois, but
only to the extent not superseded by federal law.

19.  ARBITRATION

     Any dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by arbitration in accordance with the
rules of the American Arbitration Association then in effect. Judgment may be
entered on the arbitrator's award in any court having jurisdiction; provided,
however, that Mr. Williams shall be entitled to seek specific performance of his
right to be paid until the Date of Termination during the pendency of any
dispute or controversy arising under or in connection with this Agreement.

20.  PAYMENT OF LEGAL FEES

<PAGE>

     All reasonable legal fees paid or incurred by Mr. Williams pursuant to any
dispute or question of interpretation relating to this Agreement shall be paid
or reimbursed by the Bank, provided that the dispute or interpretation has been
settled by Mr. Williams and the Bank or resolved in Mr. Williams's favor.

21.  INDEMNIFICATION

     The Bank shall provide Mr. Williams (including his heirs, executors and
administrators) with coverage under a standard directors' and officers'
liability insurance policy at its expense, or in lieu thereof, shall indemnify
Mr. Williams (and his heirs, executors and administrators) to the fullest extent
permitted under federal law against all expenses and liabilities reasonably
incurred by his 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 (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 of Directors of the Bank). If such action, suit or
proceeding is brought against Mr. Williams in his capacity as an officer or
director of the Bank, however, such indemnification shall not extend to matters
as to which Mr. Williams is finally adjudged to be liable for willful misconduct
in the performance of his duties. No Indemnification shall be paid that would
violate 12 U.S.C. 1828(K) or any regulations promulgated thereunder.

22.  SUCCESSOR TO THE BANK

     The Bank shall require any successor or assignee, whether direct or
indirect, by purchase, merger, consolidation or otherwise, to all or
substantially all the business or assets of the Bank or the Company, expressly
and unconditionally to assume and agree to perform the Bank's obligations under
this Agreement, in the same manner and to the same extent that the Bank would be
required to perform if no such succession or assignment had taken place.

<PAGE>

                                   SIGNATURES

     IN WITNESS WHEREOF, the Bank has caused this Agreement to be executed and
their seals to be affixed hereunto by its duly authorized officer, and Mr.
Williams has signed this Agreement, effective as of the day and date first above
written.

ATTEST:                                            JACKSONVILLE SAVINGS BANK

/s/ Richard A. Foss                       By:      /s/ Andrew F. Applebee
-----------------------                            -----------------------------
                                                   Chairman of the Board

WITNESS:

/s/ Richard A. Foss                       By:      /s/ John Williams
-----------------------                            -----------------------------
                                                   John Williams

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