Document:

Deferred Compensation Agreement

 EXHIBIT NO. 10.25 - DEFERRED COMPENSATION AGREEMENT DATED JANUARY 1, 
 1999 BETWEEN ST. FRANCIS BANK, F.S.B. AND THOMAS R. PERZ 
  

 DEFERRED COMPENSATION AGREEMENT 
  
 ST. FRANCIS BANK, F.S.B., a federally-chartered savings bank (“Bank”), St. Francis Capital Corporation (the
“Company”) (the Bank and Company being collectively referred to herein as the “Employers”) and THOMAS R. PERZ (“Executive”), hereby agree as follows: 
  
 EMPLOYMENT 
  
 1. Employers will employ Executive as their respective President and Chief Executive Officer at such rate of compensation as may be from time to time
determined by their Boards of Directors. Executive will devote his full energy, skill and best efforts to the affairs of the Employers on a substantially full-time basis. It is contemplated that such employment will continue until January 1, 2010
(Executive’s normal retirement date), but nevertheless either Employers or Executive may terminate Executive’s employment at any time and for any reason upon 30 days written notice to the other. 
  
 RETIREMENT 
  
 2. In the event Executive’s employment continues until his normal
retirement date it shall thereupon terminate (unless extended by mutual agreement) and, commencing with the first month following such termination, Employers will make 180 payments of $3,333.33 monthly to Executive or his Beneficiary, such payments
to be increased annually on a cumulative basis at the rate of 5% per year as of January 1 of each year in which payments are to be made. 
  
 TERMINATION OF EMPLOYMENT 
  
 3. a) Voluntary. If Executive terminates his employment with Employers voluntarily, for any reason other than Disability, prior to January 1, 2010,
Executive or Beneficiary shall be entitled to a lump-sum payment equal to the present value, using a discount rate of 10%, of the 

  

 - 2 - 

 
monthly payment stream to which Executive would have been entitled had he remained employed until January 1, 2010. 
  
 b) Involuntary. If Executive’s employment is terminated
involuntarily by Employers (or any successor employer), Executive or Beneficiary shall be entitled to receipt of a monthly benefit in the amount of $3,333.33 commencing as of the first day of the month following such termination; provided, however,
that no benefit shall be paid under this Agreement in the event Executive’s employment is terminated for Cause as defined herein. For purposes of this Agreement, a termination of employment by Executive within twelve (12) months of any material
diminishment in compensation or responsibilities shall be deemed an involuntary termination. 
  
 c) Disability. If Executive’s employment terminates as the result of Disability, Executive or Beneficiary shall be entitled to receipt of a monthly benefit in the amount of $3,333.33 commencing as of the
first day of the month following such termination. For purposes of this Agreement, “Disability” shall mean, if Executive is covered under a disability insurance policy paid by Employers, the definition of total disability contained in such
policy. If Executive is not insured under such a policy, Disability shall mean a mental or physical condition which renders Executive unable to perform the regular duties of his job, as determined by the respective Boards of Directors; provided that
in the event of any disagreement between the Executive and a Board, they shall select a mutually agreeable, qualified, independent physician to make such determination. Absent agreement, the determination shall be made by a physician recommended by
the then president of the medical society for the county in which Executive resides. The costs of any necessary medical examination shall be borne by the Employers. 
  

 - 3 - 

 d) Duration and Amount. Any benefit payable under this Section 3 shall be payable to Executive or
Beneficiary for a period of 180 months. The amount of any such benefit shall be increased annually on a cumulative basis at the rate of 5% per year as of January 1 of each year in which payments are to be made. 
  
 (e) Cause – For purposes of this Agreement, a termination for
Cause shall mean termination by the Employers of Executives employment as the result of: 
  

	 	(i)	The intentional failure by Executive to substantially perform assigned duties (appropriate to his position and level of compensation) with the Bank (other than any such failure
resulting from the Executive’s incapacity due to physical or mental illness) after a written demand for substantial performance is delivered to Executive by the Board, which demand specifically identifies the manner in which the Board believes
Executive has not substantially performed his duties, advises Executive of what steps must be taken to achieve substantial performance, and allows Executive Sixty (60) days in which to demonstrate such performance; 

  

	 	(ii)	Any willful act of misconduct by Executive; 

  

	 	(iii)	A criminal conviction of Executive for any act involving dishonesty, breach of trust or a violation of the banking or savings and loan laws of the United States;

  

	 	(iv)	A criminal conviction of Executive for the commission of any felony; 

  

	 	(v)	A breach of fiduciary duty involving personal profit; 

  

	 	(vi)	A willful violation of any law, rule or regulation (other than a traffic violation or similar offenses) or final cease and desist order; or 

  

 - 4 - 

	 	(vii)	Personal dishonesty or material breach of any provision of this Agreement. 

  
 For purposes of this Section, no act, or failure to act, on Executive’s part shall be deemed “willful” unless done, or omitted to be done,
by Executive not in good faith and without reasonable belief that the action or omission was in the best interest of the Employers. 
  
 DEATH 
  
 4. If Executive dies before termination of his employment, commencing with the first month following death and continuing for 180 months thereafter,
Employers shall pay Executive’s named beneficiary (designated in Section 5 of this Agreement and hereinafter referred to as the Beneficiary) a monthly amount equal to the amount Employers would have paid Executive had he lived to his normal
retirement date, which shall be the amount specified in Section 2. 
  
 BENEFICIARY 
  
 5. The Beneficiary of any payments
to be made after Executive’s death, shall be MARY PERZ his wife, or such other person or persons as Executive shall designate in writing to Employers. If no Beneficiary shall survive Executive for thirty (30) days any such payments shall
be made to Executive’s estate. 
  
 RESTRICTIONS

  
 6. Executive shall not, for a period of twenty-four (24)
months following any voluntary termination of employment prior to January 1, 2010, either directly or indirectly, accept employment with, render service, assistance or advice to, or allow his name to be used by any Significant Competitor of
Employers unless approved by the Boards of Directors of the Employers. For purposes of this Agreement, the term Significant Competitor means any financial institution including, but not limited to, any commercial bank, savings bank, savings 

  

 - 5 - 

 
and loan association, credit union, or mortgage banking corporation which, at the time of termination of Executive’s employment or during the period of
this covenant not to compete, (i) maintains a home, branch or other office in Kenosha, Milwaukee, Ozaukee, Racine Washington or Waukesha counties, or (ii) has originated within any of said counties $10,000,000 or more in residential mortgage loans
during any consecutive twelve (12 month period within the twenty-four (24) months prior to Executive’s termination and inclusive of the period covered by this covenant. Determination by the respective Boards of Directors that Executive has
engaged in any such activity shall be binding and conclusive on all parties, and in addition to all other rights and remedies which Employers shall have neither Executive nor Beneficiary shall be entitled to any payments hereunder. The restriction
contained in this Section 6 shall not apply in the event of a termination by Executive following a change in control of either the Bank or Company as defined in Executive’s Employment Agreement in effect as of January 1, 1999. 
  
 INSURANCE 
  
 7. If Employers shall elect to purchase a life insurance contract to provide funds to make payments hereunder, Employers (or
one of them) shall at all times be the sole and complete Owner(s) and beneficiary(s) of such contract, and shall have the unrestricted right to use all amounts and exercise all options and privileges thereunder without knowledge or consent of
Executive or Beneficiary or any other person, it being expressly agreed that neither Executive nor Beneficiary nor any other person shall have any right, title or interest whatsoever in or to any such contract. 
  
 SOURCE OF PAYMENTS 
  
 8. Executive, Beneficiary and any other person or persons having or claiming
a right to payments hereunder or to any interest in this Agreement shall rely solely on the unsecured promise of Employer set forth herein, and nothing in this agreement shall be construed to give 

  

 - 6 - 

 
Executive, Beneficiary or any other person or persons any right, title, interest or claim in or to any specific asset, fund, reserve, account or property of
any kind whatsoever owned by Employers or in which Employers may have any right, title or interest now or in the future, but Executive shall have the right to enforce his claim against Employers in the same manner as any unsecured creditor.

  
 AMENDMENT 
  
 9. This Agreement may be amended at any time or from time to time by written
agreement of the parties, or at any time by the Boards of Directors of the Employers if they deem such action to be appropriate and in the best interests of the Employers; provided, however, that no amendment may reduce the amount of any benefit
that would have become payable under the September 17, 1986 Deferred Compensation Agreement between the Bank and Executive (the “Deferred Agreement”) and that there may be no amendment except with Executive’s written consent following
consummation of any transaction which results in a change in control of one or both of the Employers. 
  
 10. Neither Executive, nor Beneficiary, nor any other person entitled to payments hereunder shall have power to transfer, assign, anticipate, mortgage or
otherwise encumber in advance any of such payments, nor shall such payments be subject to seizure for the payment of public or private debts, judgments, alimony or separate maintenance, or be transferable by operation of law in event of bankruptcy,
insolvency or otherwise. 
  
 BINDING EFFECT 
  
 11. This Agreement shall be effective and binding upon the parties hereto,
their heirs, executors, administrators, successors and assigns as of the date of execution and shall, to the extent effective, replace and supersede the provisions of a Deferred Compensation Agreement entered into effective as of September 17, 1986
between Executive and the Employer’s 

  

 - 7 - 

 
predecessor St. Francis Savings and Loan Association. The parties acknowledge that as additional consideration for this Agreement the Executive has agreed to
the revision of Section 6 of the prior agreement to create herein an enforceable non-compete provision in lieu of a prior provision that was unenforceable by reason of its absence of a limited time and by reason of its indefinitiveness as to
geographic scope. 
  
 12. The Employers agree that they will not
be a party to any merger, consolidation or reorganization, unless and until its obligations hereunder shall be expressly assumed by its successor or successors. 
  

13. In consideration for this Deferred Compensation Agreement, it is understood that Executive has foregone an annual compensation increase of
$5,000.00 as of October 1, 1986. 
  
 IN WITNESS WHEREOF,
the parties have executed this Agreement to be effective as of January 1, 1999. 
  

									
	EXECUTIVE	 	 	 	ST. FRANCIS BANK, F.S.B.
				
	 /s/ Thomas R. Perz
	 	 	 	By:	 	 /s/ Judith M. Gauvin

	
	 	 	 	 	 	

	 THOMAS R. PERZ
	 	 	 	 	 	 Title:
	 	 Executive Vice President

			
	 	 	 	 	ST. FRANCIS CAPITAL CORPORATION
				
	 	 	 	 	By:	 	 /s/ William R. Hotz

	 	 	 	 	 	 	

	 	 	 	 	 	 	 Title:
	 	 Executive Vice President

  

 - 8 -Deferred Compensation Agreement

 EXHIBIT NO. 10.26 – DEFERRED COMPENSATION AGREEMENTS DATED JANUARY 1, 1998, 
 JANUARY 1, 1996, JANUARY 19, 1994 AND NOVEMBER 18, 1987 
 BETWEEN ST. FRANCIS CAPITAL CORPORATION, ST. FRANCIS BANK, F.S.B., 
 BANK WISCONSIN AND THOMAS R.
PERZ 

 AMENDED 
 DEFERRED COMPENSATION AGREEMENT 
  
 THIS AGREEMENT is made this 1st day of January, 1998, between ST. FRANCIS CAPITAL CORPORATION, ST. FRANCIS BANK, F.S.B. (the “Bank”), BANK WISCONSIN (collectively referred to as the “Controlled Group”) and
Thomas R. Perz, (the “Director”). 
  
 WHEREAS,
Director has previously entered into a deferred compensation agreement with the Bank, the sole member of the Controlled Group paying directors’ fees prior to January 1, 1996, and 
  
 WHEREAS, each member of the Controlled Group will now pay directors’ fees, and 
  
 WHEREAS, the parties to this Agreement wish to amend the prior agreement to
reflect the payment of Directors’ fees by other members of the Controlled Group. 
  
 NOW, THEREFORE, in consideration of the premises, the parties agree as follows: 
  

	 	1.	Director’s Fee. Effective January 1, 1998 and continuing through December 31, 1999, the Director hereby elects to defer his monthly Director’s fees,
meeting fees, and committee fees commencing as follows: 

  

				
	 St. Francis Capital Corporation
	  	$	16,500.00
	 	  	
	

	 St. Francis Bank, F.S.B.
	  	$	13,500.00
	 	  	
	

	 Total
	  	$	30,000.00
	 	  	
	

  
 Director may elect to
increase or decrease his deferral election for any year by delivering a notice, to the Bank; provided, however that the Director’s total deferrals from all members of the Controlled Group may not be terminated or reduced below $30,000.00
per year without the Bank’s express consent. If Director ceases to be a member of the Board, he shall be deemed to have terminated his deferral. If the Director should terminate his deferral prior to December 31, 1999 for any reason
other than Director’s death, Director’s benefits under this Agreement shall be payable pursuant to paragraph 5. 
  

	 	2.	Deferred Benefit Account. The Bank shall establish a Deferred Benefit Account on its books for Director reflecting the amount Director has elected to defer from each member
of the Controlled Group, and shall credit to Director’s Deferred Benefit Account the following amounts at the times specified: 

  
 (a) The compensation that the Director elects to defer pursuant to paragraph 1 above, credited as of the date the Director would otherwise have received
the compensation. 
  
 (b) As of each April 30, an amount equal to
the interest earned since the last preceding April 30. Interest shall be calculated using the rate one (1) percentage point over the composite yield on Moody’s Long Term Bond Index rate in effect on the preceding April 30. The interest rate
shall 

  

 -1- 

 
be applied to the average balance in the Deferred Benefit Account since the last April 30. The average balance shall be determined by adding the balance as
of the end of each month in the year and dividing by 12. Interest will be compounded annually and will continue to be credited on any undistributed balance. A Director’s Deferred Benefit Account shall be utilized solely as a device for the
measurement and determination of the amounts to be paid to the Director pursuant to this Agreement. A Director’s Deferred Benefit Account shall not constitute or be treated as a trust fund of any kind. Title to and beneficial ownership of any
assets, which the Bank may earmark to pay deferred compensation hereunder, shall at all times remain in the Bank, and the Director shall at all times remain in the Bank, and the Director shall not have any interest in specific assets of the Bank by
virtue of this Agreement. The Bank shall provide Director within 120 days after each April 30, a statement in such form as the Bank deems desirable setting forth the balance to the credit of Director in his Deferred Benefit Account as of April 30.

  

	 	3.	Retirement Benefits. Upon Director’s attainment of age 65, Bank shall pay Director as compensation for services rendered prior to such date a benefit equal to the amount
of his Deferred Benefit Account determined as of the April 30 coincident with or next following Director’s age 65. The retirement benefit shall be paid over a period of 10 years. If Director should die at a time when payments under this
paragraph are due to commence or have commenced and before the payments provided for herein have been made, the unpaid balance will continue to be paid in installments to his designated beneficiary until such time as a total of all payments have
been made. The portion of the Director’s Account to be paid to the Director during each year shall be as follows: 

  

			
	 Installment No.

	 	 Portion of Account to be Paid

	 1
	 	1/10
	 2
	 	1/9
	 3
	 	1/8
	 4
	 	1/7
	 5
	 	1/6
	 6
	 	1/5
	 7
	 	1/4
	 8
	 	1/3
	 9
	 	1/2
	 10
	 	Remaining Balance

  

	 	4.	Survivor Benefits. Upon Director’s death prior to age 65, the Bank shall pay Director’s designated beneficiary an annual sum of Seventy Six Thousand Dollars
($76,000.00) for a period of ten years. In lieu of this survivor benefit, the Director’s designated beneficiary may elect to receive the balance in the Director’s Deferred Benefit Account over a period of 10 years as provided in
paragraph 3. 

  

	 	5.	Termination of Deferrals. Notwithstanding paragraphs 3 and 4 above, if Director terminates deferrals prior to December 31, 1999 for any reason other than the
Director’s death or a change in control as described in paragraph 7, Director shall be paid a lump sum amount equal to his Deferred Benefit Account on April 30 immediately following the date six years from the date of the prior deferred
compensation agreement with the Bank. 

  

 -2- 

	 	6.	Frequency of Payment. Payments to be made pursuant to paragraph 3 and paragraph 4 shall be made in monthly instalments. The Bank may, in its absolute discretion, accelerate
the payment of any amounts provided herein to the extent it desires, or commute any installment payments into a single lump sum payment equal to the present value of the right to receive such future installment payments. In the calculation of lump
sum present value, Bank shall use an interest rate equal to the average interest rate obtained in three quotations from commercial insurers licensed to do business in Wisconsin for a fixed term annuity corresponding to the remaining future
installments being commuted. 

  

	 	7.	Change in Control. In the event of a “change in control”, as defined in Section 5(iv) of the employment agreement currently in effect between St. Francis Bank,
F.S.B. and Executive, the Bank shall pay Executive a lump sum equal to his Deferred Benefit Account within 60 days following such event. 

  

	 	8.	Designation of Beneficiary. Director shall have the right to designate a beneficiary or beneficiaries to receive any death benefit provided herein. Such designation of
beneficiary shall be delivered in writing to Bank and may be changed by Director, at any time by written notice delivered to Bank. If no beneficiary has been designated or if the designated beneficiary does not survive the Director, the death
benefit shall be payable to Director’s estate. If the beneficiary or beneficiaries who survive Director die before receiving the full amount of any benefits payable hereunder, such benefits shall be paid to the estate of the last such
beneficiary to die. 

  

	 	9.	No Trust Created. Nothing contained in this Agreement, and no action taken pursuant to the provisions of this Agreement, shall create or be construed to create a trust of any
kind, or fiduciary relationship between the Bank and Director, his designated beneficiary or any other person. Any funds which may be invested or assets which may be acquired by Bank relating to this Agreement shall continue for all purposes to be a
part of the general funds of Bank and no person other than Bank shall by virtue of the provisions of this Agreement have any interest in such funds or assets. To the extent that any person acquires a right to receive payment from Bank under this
Agreement, such right shall be no greater than the right of any unsecured general creditor of Bank. 

  

	 	10.	Assignment Not Permitted. Except as provided in paragraph 8 hereof, the right of Bank or any other person to the payment of deferred compensation or other benefits under this
Agreement shall no be assigned, transferred, pledged or encumbered. 

  

	 	11.	Duty of Cooperation. The Director shall, as a condition precedent to the receipt of any benefits under this Agreement, cooperate with the Bank in undergoing any medical
examinations and providing any information reasonably necessary in connection with the Agreement. In the event of the Director’s death during the first two (2) years of his participation, then should such death have been a suicide or should
Director be uninsurable or should the Director have made any material misstatement or failed to make a material disclosure of information in any documentation which the Director is requested to complete in connection with this Agreement, no death
benefits under the terms of this Agreement will be payable other than a return of Director’s prior deferrals without interest, unless and to the extent that the Board of Directors of Bank, in their absolute discretion, may otherwise determine.

  

 -3- 

	 	12.	Agreement Binding. This Agreement shall be binding on and inure to the benefit to Bank, its successors and assigns and of Director and his heirs, executors, administrators
and legal representatives. This instrument contains the entire agreement between the parties and may not be amended orally, but only by agreement in writing signed by both parties. 

  

	 	13.	Competence of Payees. Every person receiving or claiming payments hereunder shall be conclusively presumed to be mentally competent until the date on which the Bank receives
a written notice, in form and manner acceptable to it, that such person is incompetent and that a guardian, conservator, or other person legally vested with the management of his estate has been appointed. In the event a guardian or conservator of
the estate or any person receiving or claiming payments hereunder shall be appointed by a court of competent jurisdiction, payments may be made to such guardian or conservator provided that proper proof of appointment and continuing qualification is
furnished in a form and manner acceptable to the Bank. Any such payment so made shall be a complete discharge of liability therefor. 

  

	 	14.	Taxes. To the extent required by the law in effect at the time payments are made, the Bank shall withhold any taxes required to be withheld by the federal or any state or
local government from payments made hereunder. 

  
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above. 
  

									
	 	 	 	 	 ST. FRANCIS CAPITAL CORPORATION 

				
	(Corporate Seal)	 	 	 	By	 	 /s/ Brian T. Kaye

	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 Secretary

			
	 	 	 	 	 ST.
FRANCIS                                    BANK,
F.S.B.

				
	(Corporate Seal)	 	 	 	By	 	 /s/ Brian T. Kaye

	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 Secretary

			
	 	 	 	 	 BANK WISCONSIN

				
	(Corporate Seal)	 	 	 	By	 	 /s/ James C. Hazzard

	 	 	 	 	 	 	 	

				
	 	 	 	 	 	 	 /s/ Thomas R. Perz

	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 Director’s Signature

  

 -4- 

 AMENDED 
 DEFERRED COMPENSATION AGREEMENT 
  
 THIS AGREEMENT is made this 1ST day of JANUARY, 1996 between ST. FRANCIS CAPITAL CORPORATION, ST. FRANCIS BANK, F.S.B. (the “Bank”), BANK WISCONSIN (collectively referred to as the “Controlled Group”) and
THOMAS R. PERZ (the “Director”). 
  
 WHEREAS, Director has previously entered into a deferred compensation agreement with the Bank, the sole member of the Controlled Group paying directors’ fees prior to January 1, 1996, and 
  
 WHEREAS, each member of the Controlled Group will now pay directors’
fees, and 
  
 WHEREAS, the parties to this Agreement wish to amend
the prior agreement to reflect the payment of directors’ fees by other members of the Controlled Group. 
  
 NOW, THEREFORE, in consideration of the premises, the parties agree as follows: 
  

	 	1.	Director’s Fee. Effective January 1, 1996, the Director hereby elects to defer his monthly Director’s fees, meeting fees, and committee fees commencing as follows:

  

				
	 	  	Amount

	 St. Francis Capital Corporation
	  	$	20,000.00
	 	  	
	

	 St. Francis Bank, F.S.B.
	  	$	6,000.00
	 	  	
	

	 Bank Wisconsin
	  	$	4,000.00
	 	  	
	

	 Total
	  	$	30,000.00
	 	  	
	

  
 Director may, at any
time, elect to terminate his deferral by delivering a notice to the Bank to that effect. If Director ceases to be a member of the Board, he shall be deemed to have terminated his deferral. If Director terminates his deferral, he shall not be
permitted to again defer Director’s fees until one year from the date of such termination. If the Director should terminate his deferral for any reason other than Director’s death, Director’s benefits under this Agreement shall be
limited to those provided in paragraph 5. Director may elect to increase or decrease his deferral election for any year by delivering a notice, to the Bank; provided, however that the Director’s total deferrals from all members of the
Controlled Group may not be reduced below $30,000.00 per year without the Bank’s express consent. 
  

	 	2.	Deferred Benefit Account. The Bank shall establish a Deferred Benefit Account on its books for Director reflecting the amount Director has elected to defer from each member
of the Controlled Group, and shall credit to Director’s Deferred Benefit Account the following amounts at the times specified: 

  
 (a) The compensation that the Director elects to defer pursuant to paragraph 1 above, credited as of the date the Director would otherwise have received
the compensation. 
  
 (b) As of each April 30, an amount equal to
the interest earned since the last preceding April 30. Interest shall be calculated using the rate one (1) percentage point over the composite yield on Moody’s Long Term Bond Index rate in effect on the preceding April 30. The interest rate
shall be applied to the average balance in the Deferred Benefit Account since the last April 30. The average balance shall be determined by adding the balance as of the end of each month in the year and dividing by 12. Interest will be compounded
annually and will continue to be credited on any undistributed balance. A Director’s Deferred Benefit Account shall be utilized solely as a device for the measurement and determination of the amounts to be paid to Director pursuant to this
Agreement. A Director’s Deferred Benefit Account shall not constitute or be treated as a trust fund of any kind. Title to and beneficial ownership of any assets, which the Bank may earmark to pay deferred compensation hereunder, shall at all
times remain in the Bank, and the Director shall not have any interest in specific assets of the Bank by virtue of this Agreement. The Bank shall provide Director within 120 days after each April 30, a statement in such form as the Bank deems
desirable setting forth the balance to the credit of Director in his Deferred Benefit Account as of April 30. 
  

 -2- 

	 	3.	Retirement Benefits. Upon Director’s attainment of age 65, Bank shall pay Director as compensation for services rendered prior to such date a benefit equal to the amount
of his Deferred Benefit Account determined as of the April 30 coincident with or next following Director’s age 65. The retirement benefit shall be paid over a period of 10 years. If Director should die at a time when payments under this
paragraph are due to commence or have commenced and before the payments provided for herein have been made, the unpaid balance will continue to be paid in installments to his designated beneficiary until such time as a total of all payments have
been made. The portion of the Directors’s Account to be paid to Director during each year shall be as follows: 

  

			
	 Installment No.

	 	 Portion of Account to be Paid

	 1
	 	1/10
	 2
	 	1/9
	 3
	 	1/8
	 4
	 	1/7
	 5
	 	1/6
	 6
	 	1/5
	 7
	 	1/4
	 8
	 	1/3
	 9
	 	1/2
	 10
	 	Remaining Balance

  

	 	4.	Survivor Benefits. Upon Director’s death prior to age 65, the Bank shall pay Director’s designated beneficiary an annual sum of SEVENTY
SIX THOUSAND Dollars ($76,000.00) for a period of 10 years. In lieu of this survivor benefit, the Director’s designated beneficiary may elect to receive the balance in the Director’s Deferred Benefit Account
over a period of 10 years as provided in paragraph 3. 

  

	 	5.	Termination of Deferrals. Notwithstanding paragraphs 3 and 4 above, if Director does not make deferrals for 72 months as provided in paragraph 1 for any reason other than the
Director’s death or a change in control as described in paragraph 7, Director’s benefits shall be limited to a lump sum payment consisting of the amounts previously deferred pursuant to paragraph 1, but without any interest thereon,
payable six years from the date of the prior deferred compensation agreement with the Bank. 

  

	 	6.	Frequency of Payment. Payments to be made pursuant to paragraph 3 and paragraph 4 shall be made in monthly installments. The Bank may, in its absolute discretion, accelerate
the payment of any amounts provided herein to the extent it desires, or commute any installment payments into a single lump sum payment equal to the present value of the right to receive such future installment payments. In the calculation of lump
sum present value, Bank shall use an interest rate equal to the average interest rate obtained in three quotations from commercial insurers licensed to do business in Wisconsin for a fixed term annuity corresponding to the remaining future
installments being commuted. 

  

	 	7.	Change in Control. In the event of a “change in control” as defined in Section 5(iv) of the employment agreement currently in effect between St. Francis Bank,
F.S.B. and Executive, the Bank shall pay Executive a lump sum equal to his Deferred Benefit Account within 60 days following such event. 

  

 -3- 

	 	8.	Designation of Beneficiary. Director shall have the right to designate a beneficiary or beneficiaries to receive any death benefit provided herein. Such designation of
beneficiary shall be delivered in writing to Bank and may be changed by Director, at any time by written notice delivered to Bank. If no beneficiary has been designated or if the designated beneficiary does not survive the Director, the death
benefit shall be payable to Director’s estate. If the beneficiary or beneficiaries who survive Director die before receiving the full amount of any benefits payable hereunder, such benefits shall be paid to the estate of the last such
beneficiary to die. 

  

	 	9.	No Trust Created. Nothing contained in this Agreement, and no action taken pursuant to the provisions of this Agreement, shall create or be construed to create a trust of any
kind, or fiduciary relationship between the Bank and Director, his designated beneficiary or any other person. Any funds which may be invested or assets which may be acquired by Bank relating to this Agreement shall continue for all purposes to be a
part of the general funds of Bank and no person other than Bank shall by virtue of the provisions of this Agreement have any interest in such funds or assets. To the extent that any person acquires a right to receive payment from Bank under this
Agreement, such right shall be no greater than the right of any unsecured general creditor of Bank. 

  

	 	10.	Assignment Not Permitted. Except as provided in paragraph 8 hereof, the right of Bank or any other person to the payment of deferred compensation or other benefits under this
Agreement shall not be assigned, transferred, pledged or encumbered. 

  

	 	11.	Duty of Cooperation. The Director shall, as a condition precedent to the receipt of any benefits under this Agreement, cooperate with the Bank in undergoing any medical
examinations and providing any information reasonably necessary in connection with the Agreement. In the event of the Director’s death during the first two (2) years of his participation, then should such death have been a suicide or should
Director be uninsurable or should the Director have made any material misstatement or failed to make a material disclosure of information in any documentation which the Director is requested to complete in connection with this Agreement, no death
benefits under the terms of this Agreement will be payable other than a return of Director’s prior deferrals without interest, unless and to the extent that the Board of Directors of Bank, in their absolute discretion, may otherwise determine.

  

 -4- 

	 	12.	Agreement Binding. This Agreement shall be binding on and inure to the benefit to Bank, its successors and assigns and of Director and his heirs, executors, administrators
and legal representatives. This instrument contains the entire agreement between the parties and may not be amended orally, but only by agreement in writing signed by both parties. 

  

	 	13.	Competence of Payees . Every person receiving or claiming payments hereunder shall be conclusively presumed to be mentally competent until the date on which the Bank receives
a written notice, in form and manner acceptable to it, that such person is incompetent and that a guardian, conservator, or other person legally vested with the management of his estate has been appointed. In the event a guardian or conservator of
the estate or any person receiving or claiming payments hereunder shall be appointed by a court of competent jurisdiction, payments may be made to such guardian or conservator provided that proper proof of appointment and continuing qualification is
furnished in a form and manner acceptable to the Bank. Any such payment so made shall be a complete discharge of liability therefor. 

  

	 	14.	Taxes. To the extent required by the law in effect at the time payments are made, the Bank shall withhold any taxes required to be withheld by the federal or any state or
local government from payments made hereunder. 

  
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above. 
  

									
	 	 	 	 	 ST. FRANCIS CAPITAL CORPORATION

					
	 	 	(Corporate Seal)	 	 	 	By	 	 /s/ Brian T. Kaye

	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 Secretary

  

									
	 	 	 	 	 ST. FRANCIS BANK, F.S.B

					
	 	 	(Corporate Seal)	 	 	 	By	 	 /s/ Brian T. Kaye

	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 Secretary

  

									
	 	 	 	 	 BANK WISCONSIN

					
	 	 	(Corporate Seal)	 	 	 	By	 	 /s/ James C. Hazzard

	 	 	 	 	 	 	 	 	

					
	 	 	 	 	 	 	 	 	 /s/ Thomas R. Perz

	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 Director’s Signature

  

 -5- 

 DEFERRED COMPENSATION AGREEMENT 
  
 THIS AGREEMENT is made this 19th day of January, 1994 between ST. FRANCIS SAVINGS BANK, FSB (the “Bank”) and
Thomas Perz (the “Director”). 
  
 WHEREAS, the valuable
services rendered by Director in the past and expected to be rendered in the future are an important factor in the continuing successful operations of Bank, and 
  

WHEREAS, Bank desires to encourage Director’s continued efforts on behalf of the Bank, 
  
 NOW, THEREFORE, in consideration of the premises, the parties agree as
follows: 
  

	 	1.	Director’s Fee. The Director hereby elects to defer $16,000.00 per year of his monthly Director’s fees, meeting fees and committee fees commencing January 1, 1994,
and continuing for a period of 72 months; provided, however, that the maximum deferral in any year shall not exceed the lesser of the aggregate fees earned by Director during the year or $17,400. Director may, at any time, elect to terminate his
deferral by delivering a notice to the Bank to that effect. If Director ceases to be a member of the Board, he shall be deemed to have terminated his deferral. If Director terminates his deferral, he shall not be permitted to again defer
Director’s fees until one year from the date of such termination. If the Director should terminate his deferral for any reason other than Director’s death, Director’s benefits under this Agreement shall be limited to those provided in
paragraph 5. 

  

	 	2.	Deferred Benefit Account. The Bank shall establish a Deferred Benefit Account on its books for Director, and shall credit to Director’s Deferred Benefit Account the
following amounts at the times specified: 

  
 (a)
The compensation that the Director elects to defer pursuant to paragraph 1 above, credited as of the date the Director would otherwise have received the compensation. 
  
 (b) As of each April 30, an amount equal to the interest earned since the last preceding April 30. Interest shall be
calculated using the rate on (1) percentage point over the composite yield on Moody’s Long Term Bond Index rate in effect on the preceding April 30. The interest rate shall be applied to the average balance in the 

  

 
Deferred Benefit Account since the last April 30. The average balance shall be determined by adding the balance as of the end of each month in the year and
dividing by 12. Interest will be compounded annually and will continue to be credited on any undistributed balance. A Director’s Deferred Benefit Account shall be utilized solely as a device for the measurement and determination of the amounts
to be paid to Director pursuant to this Agreement. A Director’s Deferred Benefit Account shall not constitute or be treated as a trust fund of any kind. Title to and beneficial ownership of any assets, which the Bank may earmark to pay deferred
compensation hereunder, shall at all times remain in the Bank, and the Director shall not have any interest in specific assets of the Bank by virtue of this Agreement. The Bank shall provide Director within 120 days after each April 30, a statement
in such form as the Bank deems desirable setting forth the balance to the credit of Director in his Deferred Benefit Account as of April 30. 
  

	 	3.	Retirement Benefits. Upon Director’s attainment of age 65, Bank shall pay Director as compensation for services rendered prior to such date a benefit equal to the amount
of his Deferred Benefit Account determined as of the April 30 coincident with or next following Director’s age 65. The retirement benefit shall be paid over a period of 10 years. If Director should die at a time when payments under this
paragraph are due to commence or have commenced and before the payments provided for herein have been made, the unpaid balance will continue to be paid in installments to his designated beneficiary until such time as a total of all payments have
been paid to Director during each year shall be as follows: 

  

			
	 Installment #

	 	 Portion of Account to be Paid

	 1
	 	1/10
	 2
	 	1/9
	 3
	 	1/8
	 4
	 	1/7
	 5
	 	1/6
	 6
	 	1/5
	 7
	 	1/4
	 8
	 	1/3
	 9
	 	1/2
	 10
	 	Remaining Balance

  

	 	4.	 Survivor Benefits. Upon Director’s death prior to age 65, the Bank shall pay Director’s designated beneficiary an annual sum of Forty-Eight
Thousand Dollars ($48,000) for a period of 10 years. In lieu of this survivor benefit, the Director’s designated beneficiary may elect to receive the balance in the Director’s 

  

	 	 
Deferred Benefit Account over a period of 10 years as provided in paragraph 3. 

  

	 	5.	Termination of Deferrals. Notwithstanding paragraphs 3 and 4 above, if Director does not make deferrals for 72 months as provided in paragraph 1 for any reason other than the
Director’s death, Director’s benefits shall be limited to a lump sum payment consisting of the amounts previously deferred pursuant to paragraph 1, but without any interest thereon, payable six years from the date of this Agreement.

  

	 	6.	Frequency of Payment. Payments to be made pursuant to paragraph 3 and paragraph 4 shall be made in monthly installments. The Bank may, in its absolute discretion, accelerate
the payment of any amounts provided herein to the extent it desires, or commute any installment payments into a single lump sum payment equal to the present value of the right to receive such future installment payments. In the calculation of such
lump sum present value, Bank shall use an interest rate equal to the average interest rate obtained in three quotations from commercial insurers licensed to do business in Wisconsin for a fixed term annuity corresponding to the remaining future
installments being commuted. 

  

	 	7.	Designation of Beneficiary. Director shall have the right to designate a beneficiary or beneficiaries to receive any death benefit provided herein. Such designation of
beneficiary shall be delivered in writing to Bank and may be changed by Director, at any time by written notice delivered to Bank. If no beneficiary has been designated or if the designated beneficiary does not survive the Director, the death
benefit shall be payable to Director’s estate. If the beneficiary or beneficiaries who survive Director die before receiving the full amount of any benefits payable hereunder, such benefits shall be paid to the estate of the last such
beneficiary to die. 

  

	 	8.	No Trust Created. Nothing contained in this Agreement, and no action taken pursuant to the provisions of this Agreement, shall create or be construed to create a trust of any
kind, or fiduciary relationship between the Bank and Director, his designated beneficiary or any other person. Any funds which may be invested or assets which may be acquired by Bank relating to this Agreement shall continue for all purposes to be a
part of the general funds of Bank and no person other than Bank shall by virtue of the provisions of this Agreement have any interest in such funds or assets. To the extent that any person acquires a right to receive payment from Bank under this
Agreement, such right shall be no greater than the right of any unsecured general creditor of Bank. 

  

 -3- 

	 	9.	Assignment Not Permitted. Except as provided in paragraph 7 hereof, the right of Bank or any other person to the payment of deferred compensation or other benefits under this
Agreement shall not be assigned, transferred, pledged or encumbered. 

  

	 	10.	Duty of Cooperation. The Director shall, as a condition precedent to the receipt of any benefits under this Agreement, cooperate with the Bank in undergoing any medical
examinations and providing any information reasonably necessary in connection with the Agreement. In the event of the Director’s death during the first two (2) years of his participation, then should such death have been a suicide or should
Director be uninsurable or should the Director have made any material misstatement or failed to make a material disclosure of information in any documentation which the Director is requested to complete in connection with this Agreement, no death
benefits under the terms of this Agreement will be payable other than a return of Director’s prior deferrals without interest, unless and to the extent that the Board of Directors of Bank, in their absolute discretion, may otherwise determine.

  

	 	11.	Agreement Binding. This Agreement shall be binding on and inure to the benefit to Bank, its successors and assigns and of Director and his heirs, executors, administrators
and legal representatives. This instrument contains the entire agreement between the parties and may not be amended orally, but only by agreement in writing signed by both parties. 

  

	 	12.	Competence of Payees. Every person receiving or claiming payments hereunder shall be conclusively presumed to be mentally competent until the date on which the Bank receives
a written notice, in form and manner acceptable to it, that such person is incompetent and that, a guardian, conservator, or other person legally vested with the management of his estate has been appointed. In the event a guardian or conservator of
the estate or any person receiving or claiming payments hereunder shall be appointed by a court of competent jurisdiction, payments may be made to such guardian or conservator provided that proper proof of appointment and continuing qualification is
furnished in a form and manner acceptable to the Bank. Any such payment so made shall be a complete discharge of liability therefor. 

  

	 	13.	Taxes. To the extent required by the law in effect at the time payments are made, the Bank shall withhold any taxes required to be withheld by the federal or any state or
local government from payments made hereunder. 

  

 -4- 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.

  

									
	 	 	 	 	 ST. FRANCIS SAVINGS BANK FSB

				
	(Corporate Seal)	 	 	 	By	 	 /s/ Brian T. Kaye, Sec’y

	 	 	 	 	 	 	 	

				
	 	 	 	 	 	 	 /s/ Thomas R. Perz

	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 Director’s Signature

  

 -5- 

 “Exhibit A” 
  
 DEFERRED COMPENSATION AGREEMENT 
  
 THIS AGREEMENT is made this 18th day of November, 1987 between ST. FRANCIS SAVINGS AND LOAN ASSOCIATION (the
“Association”) and Thomas R. Perz (the “Director”). 
  
 WHEREAS, Director currently serves on the Board of Directors of the Association, and 
  
 WHEREAS, the valuable services rendered by Director in the past and expected to be rendered in the future are an important factor in the continuing
successful operations of Association, and 
  
 WHEREAS, Association
desires to encourage Director’s continued efforts on behalf of the Association, 
  
 NOW, THEREFORE, in consideration of the premises, the parties agree as follows: 
  

	 	1.	Director’s Fee. The Director hereby elects to defer $12,000.00 per year of his monthly Director’s fees, meeting fees, and committee fees commencing January, 1988,
and continuing for a period of 72 months; provided, however, that the maximum deferral in any year shall not exceed the lesser of the aggregate fees earned by Director during the year or $12,500. Director may, at any time, elect to terminate his
deferral by delivering a notice to the Association to that effect. If Director ceases to be a member of the Board, he shall be deemed to have terminated his deferral. If Director terminates his deferral, he shall not be permitted to again defer
Director’s fees until one year from the date of such termination. If the Director should terminate his deferral for any reason other than Director’s death, Director’s benefits under this Agreement shall be limited to those provided in
paragraph 5. 

  

	 	2.	Deferred Benefit Account. The Association shall establish a Deferred Benefit Account on its books for Director, and shall credit to Director’s Deferred Benefit Account
the following amounts at the times specified: 

  
 (a) The compensation that the Director elects to defer pursuant to paragraph 1 above, credited as of the date the Director would otherwise have received the compensation. 
  
 (b) As of each April 30, an amount equal to the interest earned since the last preceding April 30. Interest shall be
calculated using the rate one (1) percentage point over the composite yield on Moody’s Long Term Bond Index rate in effect on the preceding April 30. 

  

 
The interest rate shall be applied to the average balance in the Deferred Benefit Account since the last April 30. The average balance shall be determined by
adding the balance as of the end of each month in the year and dividing by 12. Interest will be compounded annually and will continue to be credited on any undistributed balance. A Director’s Deferred Benefit Account shall be utilized solely as
a device for the measurement and determination of the amounts to be paid to Director pursuant to this Agreement. A Director’s Deferred Benefit Account shall not constitute or be treated as a trust fund of any kind. Title to and beneficial
ownership of any assets, which the Association may earmark to pay deferred compensation hereunder, shall at all times remain in the Association, and the Director shall not have any interest in specific assets of the Association by virtue of this
Agreement. The Association shall provide Director within 120 days after each April 30, a statement in such form as the Association deems desirable setting forth the balance to the credit of Director in his Deferred Benefit Account as of April 30.

  

	 	3.	Retirement Benefits. Upon Director’s attainment of age 65, Association shall pay Director as compensation for services rendered prior to such date a benefit equal to the
amount of his Deferred Benefit Account determined as of the April 30 coincident with or next following Director’s age 65. The retirement benefit shall be paid over a period of 10 years. If Director should die at a time when payments under this
paragraph are due to commence or have commenced and before the payments provided for herein have been made, the unpaid balance will continue to be paid in installments to his designated beneficiary until such time as a total of all payments have
been made. The portion of the Directors’s Account to be paid to Director during each year shall be as follows : 

  

			
	 Installment No.

	  	Portion of Account to be Paid

	 1
	  	1/10
	 2
	  	1/9
	 3
	  	1/8
	 4
	  	1/7
	 5
	  	1/6
	 6
	  	1/5
	 7
	  	1/4
	 8
	  	1/3
	 9
	  	1/2
	 10
	  	Remaining Balance

  

	 	4.	 Survivor Benefits. Upon Director’s death prior to age 65, the Association shall pay Director’s designated beneficiary an annual sum of Thirty-six
thousand Dollars 

  

 -2- 

	 	 
($36,000.00) for a period of 10 years. In lieu of this survivor benefit, the Director’s designated beneficiary may elect to receive the balance in the
Director’s Deferred Benefit Account over a period of 10 years as provided in paragraph 3. 

  

	 	5.	Termination of Deferrals. Notwithstanding paragraphs 3 and 4 above, if Director does not make deferrals for 72 months as provided in paragraph 1 for any reason other than the
Director’s death, Director’s benefits shall be limited to a lump sum payment consisting of the amounts previously deferred pursuant to paragraph 1, but without any interest thereon, payable six years from the date of this Agreement.

  

	 	6.	Frequency of Payment. Payments to be made pursuant to paragraph 3 and paragraph 4 shall be made in monthly installments. The Association may, in its absolute discretion,
accelerate the payment of any amounts provided herein to the extent it desires, or commute any installment payments into a single lump sum payment equal to the present value of the right to receive such future installment payments. In the
calculation of such lump sum present value, Association shall use an interest rate equal to the average interest rate obtained in three quotations from commercial insurers licensed to do business in Wisconsin for a fixed term annuity corresponding
to the remaining future installments being commuted. 

  

	 	7.	Designation of Beneficiary Director shall have the right to designate a beneficiary or beneficiaries to receive any death benefit provided herein. Such designation of
beneficiary shall be delivered in writing to Association and may be changed by Director, at any time by written notice delivered to Association. If no beneficiary has been designated or if the designated beneficiary does not survive the Director,
the death benefit shall be payable to Director’s estate. If the beneficiary or beneficiaries who survive Director die before receiving the full amount of any benefits payable hereunder, such benefits shall be paid to the estate of the last such
beneficiary to die. 

  

	 	8.	 No Trust Created. Nothing contained in this Agreement, and no action taken pursuant to the provisions of this Agreement, shall create or be construed to
create a trust of any kind, or fiduciary relationship between the Association and Director, his designated beneficiary or any other person. Any funds which may be invested or assets which may be acquired by Association relating to this Agreement
shall continue for all purposes to be a part of the general funds of Association and no person other than Association shall by virtue of the provisions of this Agreement have any interest in such funds or assets. To the extent that any person
acquires a right to 

  

 -3- 

	 	 
receive payment from Association under this Agreement, such right shall be no greater than the right of any unsecured general creditor of Association.

  

	 	9.	Assignment Not Permitted. Except as provided in paragraph 7 hereof, the right of Association or any other person to the payment of deferred compensation or other benefits
under this Agreement shall not be assigned, transferred, pledged or encumbered. 

  

	 	10.	Duty of Cooperation. The Director shall, as a condition precedent to the receipt of any benefits under this Agreement, cooperate with the Association in undergoing any
medical examinations and providing any information reasonably necessary in connection with the Agreement. In the event of the Director’s death during the first two (2) years of his participation, then should such death have been a suicide or
should Director be uninsurable or should the Director have made any material mis-statement or failed to make a material disclosure of information in any documentation which the Director is requested to complete in connection with this Agreement, no
death benefits under the terms of this Agreement will be payable other than a return of Director’s prior deferrals without interest, unless and to the extent that the Board of Directors of Association, in their absolute discretion, may
otherwise determine. 

  

	 	11.	Agreement Binding. This Agreement shall be binding on and inure to the benefit to Association, its successors and assigns and of Director and his heirs, executors,
administrators and legal representatives. This instrument contains the entire agreement between the parties and may not be amended orally, but only by agreement in writing signed by both parties. 

  

	 	12.	Competence of Payees. Every person receiving or claiming payments hereunder shall be conclusively presumed to be mentally competent until the date on which the Association
receives a written notice, in form and manner acceptable to it, that such person is incompetent and that a guardian, conservator, or other person legally vested with the management of his estate has been appointed. In the event a guardian or
conservator of the estate or any person receiving or claiming payments hereunder shall be appointed by a court of competent jurisdiction, payments may be made to such guardian or conservator provided that proper proof of appointment and continuing
qualification is furnished in a form and manner acceptable to the Association. Any such payment so made shall be a complete discharge of liability therefor. 

  

 -4- 

	 	13.	Taxes. To the extent required by the law in effect at the time payments are made, the Association shall withhold any taxes required to be withheld by the federal or any state
or local government from payments made hereunder. 

  
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above. 
  

									
	 	 	 	 	 ST. FRANCIS SAVINGS & LOAN ASSOCIATION

				
	(Corporate Seal)	 	 	 	By	 	 /s/ Marie L. Malicki

	 	 	 	 	 	 	 	

				
	 	 	 	 	 	 	 /s/ Thomas R. Perz

	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 Director’s Signature

  

 -5-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00063-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00063-of-00352.parquet"}]]