Document:

Management Incentive Compensation Plan

 Exhibit 10.2 
 FEDERAL HOME LOAN BANK OF CHICAGO 
 MANAGEMENT INCENTIVE COMPENSATION PLAN 
  

	I.	PURPOSE 

 Members of the Bank’s Management
Committee (excluding the President & CEO) are eligible to participate in the Federal Home Loan Bank of Chicago Management Incentive Compensation Plan (“Plan”). The purpose of the Plan is to give a select group of management and
highly compensated employees strong incentives to make difficult decisions and to expend exceptional efforts to enhance the financial performance of the Bank. 
 Incentive compensation is to be awarded by the President & CEO with approval of the Personnel & Compensation Committee of the Board of Directors in accordance with the terms and conditions in this
Plan. 
  

	II.	ELIGIBILITY FOR AWARD 

 To receive an award under
the Plan, the following eligibility conditions must be satisfied: 
 A. The recipient is a member of the Bank’s Management Committee
(excluding the President & CEO) during the Plan year or is a senior officer designated by the President & CEO to participate in the Plan; 
 B. The recipient has defined and satisfied personal goals and other performance expectations, as established and approved by the President & CEO, and the recipient has achieved specific levels of job
performance for the Plan year; and 
 C. The recipient displays, in the judgment of the President & CEO, a commitment to the Bank as
a whole and team spirit. 
  

	III.	PLAN CRITERIA AND MAXIMUM AWARD PERCENTAGE 

  

	 	A.	Plan Criteria 

 The Plan criteria consist of a
series of corporate goals established annually (“Bank Criteria”) based upon the approved Business Plan for the Plan year. The Bank Criteria will be communicated within the first three (3) months of each Plan year and will specify:

  

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	 	(i)	Bank Criteria description; 

	 	(ii)	Plan Year Performance Target for each of the Bank Criteria; and 

	 	(iii)	Target Value or weighting attributed to each of the Bank Criteria. 

 The Bank Criteria, Performance Targets and Target Values for a Plan year shall be established by the Personnel & Compensation Committee. 
  

	 	B.	Plan Administration 

 The Maximum Award Percentage
is calculated by calculating the actual Plan year performance as a percent of target for each of the Bank Criteria separately, multiplying the results for each criterion by its associated Target Value and adding the resulting totals to calculate the
Award Coefficient Factor. 
 The total Award Coefficient Factor is applied to the Award Formula Table to determine the Maximum Award
Percentage. The Maximum Award Percentage and the Award Formula Table are established for each Plan year and communicated as part of the Plan Worksheet for that Plan year. 
 After the Maximum Award Percentage is calculated for a Plan year, the President & CEO shall establish an award pool for this Plan and determine the award to be made to each recipient, in his sole discretion.
Individual awards will be approved by the Personnel & Compensation Committee of the Board of Directors. 
  

	 	C.	Discretionary Awards 

 In any Plan year, the
President & CEO may establish a discretionary bonus pool which may be used to grant individual Discretionary Awards as set forth in this Section III.C. The amount of such bonus pool shall be determined at the discretion of the
President & CEO up to a percentage of the aggregate incentive award opportunity (base salary x Maximum Award Percentage) for all eligible recipients in a Plan year, as approved by the Personnel & Compensation Committee. 

If the President & CEO has established a discretionary bonus pool for a Plan year, the President & CEO shall have the authority to
grant an additional incentive award (“Discretionary Award”) to recipients who are otherwise eligible to receive an incentive award under this Plan for the Plan year. The determination of the recipients of a 
  

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 Discretionary Award and the amount of such Discretionary Award for each such recipient shall be in the
sole discretion of the President & CEO, provided that the aggregate amount of Discretionary Awards granted in any Plan year shall not exceed the amount of the discretionary bonus pool previously determined by the President & CEO
for such year. A Discretionary Award is made to a recipient in addition to the incentive award made to such recipient pursuant to Section III.B of this Plan and need not be related to the recipient’s base compensation. The President shall not
be required to distribute the full amount of any discretionary bonus pool. All Discretionary Awards shall be deemed to be an “award” for all purposes under this Plan. 
 The Personnel & Compensation Committee shall receive a report in a Plan year where Discretionary Awards are granted. 
  

	IV.	FORM OF PAYMENT 

 Payment shall be 100% in cash.

  

	 	A.	Cash 

 The cash portion of any award is payable
after year-end results are reported and Personnel & Compensation Committee approval. 
  

	 	B.	Payment Deferral 

 An award recipient may elect to
defer the receipt of all or any amount of any award under the Plan and to have such amount applied to the purchase of Performance Units under the Federal Home Loan Bank of Chicago Long-Term Incentive Compensation Plan. Election of such deferral
shall be subject to the following rules: 
  

	 	(i)	An election to defer all or any portion of an award that may be made pursuant to Section III.B of this Plan must be made no later than June 30 of each Plan year; and

	 	(ii)	An election to defer all or any portion of a discretionary award that may be made pursuant to Section III.C of this Plan must be made prior to January 1 of the Plan year in
question; provided, however, that with respect to the 2007 Plan year only, a deferral election with respect to a discretionary award that may be made pursuant to Section III.C for the 2007 Plan year must be made no later than June 1, 2007.

  

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	V.	MISCELLANEOUS 

 Base pay may be adjusted annually
by merit increases, but is not affected by any incentive award. 
 The Bank shall during each plan year give the Personnel &
Compensation Committee a mid-year status report on progress toward performance targets established hereunder. 
 The Plan shall be maintained
in accordance with and is subject to Federal Housing Finance Board regulations and policies. 
  

	VI.	OTHER TERMS AND CONDITIONS 

  

	 	A.	Discretionary Authority. 

 The Bank, with the
approval of the Personnel & Compensation Committee, may make adjustments in the criteria established herein for any award period whether before or after the end of the award period and, to the extent it deems appropriate in its sole
discretion which shall be conclusive and binding upon all parties concerned, make awards or adjust awards to compensate for or reflect any significant changes which may have occurred during the award period which alter the basis upon which such
performance targets were determined or otherwise. The Bank, with the approval of the Personnel & Compensation Committee, may, in its discretion, make additional awards in such amounts as it deems appropriate in consideration of
extraordinary performance by the Bank. 
  

	 	B.	Other Conditions. 

  

	 	(1)	No person shall have any claim to be granted an award under the Plan and there is no obligation for uniformity of treatment of eligible employees under the Plan. Except as otherwise
required by law, awards under the Plan may not be assigned. 

  

	 	(2)	Neither the Plan nor any action taken hereunder shall be construed as giving to any employee the right to be retained in the employ of the Bank. 

  

	 	(3)	The Bank shall have the right to deduct from any award to be paid under the Plan any Federal, state or local taxes required by law to be withheld with respect to such payment.

  

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	 	(4)	No award shall be paid to an employee for the current plan year if such employee’s employment ceases prior to the end of the plan year, whether by resignation, termination or
otherwise. 

  

	 	(5)	Any award hereunder may be reduced pro rata in the event that an award recipient (i) commences employment with the Bank during the calendar year or (ii) is absent
from the Bank (other than regular vacation) during the calendar year whether through approved leave or otherwise, including but not limited to: short or long term disability, leave under the Family and Medical Leave Act, a personal leave of absence
or military leave. 

  

	 	C.	Plan Administration 

  

	 	(1)	The Bank shall have full power to administer and interpret the Plan and to establish rules for its administration. The levels of financial and individual performance, established
pursuant to this Plan, achieved for each award period shall be conclusively determined by the Bank. The determination of financial performance achieved for any award period may, but need not, be adjusted to reflect extraordinary financial items and
adjustments or restatements of the financial statements, in the discretion of the Bank. Any such determination shall not be affected by subsequent adjustments or restatements. Any determinations or actions required or permitted to be made by the
Bank may be made by the President & CEO. The Bank and President & CEO of the Bank in making any determinations under or referred to in the Plan shall be entitled to rely on opinions, reports or statements of officers or employees
of the Bank and of counsel, public accountants and other professional or expert persons. 

  

	 	(2)	The Plan shall be governed by applicable Federal law. 

  

	 	(3)	This Plan supersedes any prior Management Incentive Compensation Plan for the plan year commencing on January 1, 2007. 

  

	 	D.	Modification or Termination of Plan. 

 The Bank may
modify or terminate the Plan at any time to be effective at such date as the Bank may determine. A modification may affect present and future awards and eligible employees. 
  

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	 	E.	Effective Date. 

 The Plan shall be effective
May 1, 2007. 
  
  
 APPROVED BY THE BOARD OF 
 DIRECTORS ON THE 24TH 
 DAY
OF APRIL, 2007. 
  
  
 /s/    Peter E. Gutzmer             
 Its Corporate Secretary

  

 6Exhibit 10.5

 Exhibit 10.5 
 AMENDED AND RESTATED 
 BALTIMORE COUNTY SAVINGS BANK 
 EMPLOYMENT AGREEMENT 
 THIS
AGREEMENT (the “Agreement”), originally entered into on November 27, 2006, is hereby amended and restated in its entirety effective ______________, 2007 by and between BALTIMORE COUNTY SAVINGS BANK (the “Bank”),
and JOSEPH J. BOUFFARD (the “Executive”). 
 WHEREAS, the Bank has employed Executive in a position of substantial
responsibility; and 
 WHEREAS, the Bank wishes to assure Executive’s services for the term of this Agreement; and 
 WHEREAS, Executive is willing to serve in the employ of the Bank during the term of this Agreement. 
 NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement, and upon the other terms and conditions provided for in this
Agreement, the parties hereby agree as follows: 
 1. Employment. The Bank will employ Executive as President and Chief
Executive Officer of the Bank, reporting to the Board of Directors of the Bank (the “Board”). Executive will perform all duties and shall have all powers commonly incident to the offices of President and Chief Executive Officer or which,
consistent with those offices, the Board delegates to Executive. Executive also agrees to serve, if elected, as an officer and/or director of any subsidiary or affiliate of the Bank and to carry out the duties and responsibilities reasonably
appropriate to those offices. 
 2. Location and Facilities. The Bank will furnish Executive with the working facilities and
staff customary for executive officers with the title and duties set forth in Section 1 and as are necessary for him to perform his duties. The location of such facilities and staff shall be at the principal administrative offices of the Bank,
or at such other site or sites customary for such offices. 
 3. Term. 
  

	 	a.	The term of this Agreement shall include: (i) the initial term, consisting of the period commencing on the date of this Agreement (the “Effective Date”) and ending on
the third anniversary of the Effective Date, plus (ii) any and all extensions of the initial term made pursuant to this Section 3. 

  

	 	b.	Commencing on the first anniversary of the Effective Date and continuing on each anniversary of the Effective Date thereafter, the disinterested members of the Board may extend the
Agreement term for an additional year, so that the remaining term of the Agreement again becomes thirty-six (36) months, unless Executive elects not to extend the term of this Agreement by giving written notice in accordance with
Section 19 of this Agreement. The Board will review the Agreement and Executive’s performance annually for purposes of determining whether to extend the Agreement term and will include the rationale and results of its review in the minutes
of the meeting. The Board will notify Executive as soon as possible after its annual review whether the Board has determined to extend the Agreement. 

 4. Base Compensation. 
  

	 	a.	The Bank agrees to pay Executive during the term of this Agreement a base salary at the rate of $200,000 per year, payable in accordance with the Bank’s customary payroll
practices. 

  

	 	b.	Each year, the Board will review the level of Executive’s base salary, based upon factors they deem relevant, in order to determine whether to maintain or increase his base
salary. 

 5. Incentive Compensation. 
  

	 	a.	Executive will participate in discretionary bonuses or other incentive compensation programs that the Bank may sponsor or award from time to time to senior management employees.

  

	 	b.	Upon approval by the Board of Directors of BCSB Bankcorp, Inc., (the “Company”), Executive shall receive a restricted stock award covering 5,000 shares of Bankcorp common
stock, vesting in installments of 1,000 shares on the first anniversary of the grant date and continuing each anniversary thereafter until fully vested. Executive shall also receive 20,000 stock options, vesting in installments of 4,000 shares on
the first anniversary of the grant date and continuing each anniversary thereafter until fully vested. Stock options shall remain exercisable for a period of ten years from the grant date. Restricted stock awards and stock options will vest
immediately upon a change in control. The restricted stock and stock option awards shall be subject in all respects to the terms and conditions of the separate award agreements to be provided to Executive as soon as administratively practicable
following commencement of employment. 

 6. Benefit Plans. Executive will participate in life insurance, medical,
dental, pension, profit sharing, retirement, supplemental retirement and other benefit programs and arrangements that the Bank may sponsor or maintain for the benefit of senior management employees and its employees generally. 
 7. Vacations and Leave. 
  

	 	a.	Executive may take up to four (4) weeks of paid vacation leave and other leave in accordance with the Bank’s policy for senior executives, or otherwise as approved by the
Board. 

  

	 	b.	In addition to paid vacations and other leave, the Board may grant Executive a leave or leaves of absence, with or without pay, at such time or times and upon such terms and
conditions as the Board, in its discretion, may determine. 

 8. Expense Payments and Reimbursements. The Bank
will reimburse Executive for all reasonable out-of-pocket business expenses incurred in connection with his services under this Agreement upon substantiation of such expenses in accordance with applicable policies of the Bank. 
 9. Automobile Allowance; Club Membership. During the term of this Agreement, the Bank will provide Executive with an automobile allowance
of $1,000 per month. The Bank shall also provide Executive with the use of its corporate membership at Winters Run Golf Club and pay dues associated with his use of the club. 
  

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 10. Loyalty and Confidentiality. 
  

	 	a.	During the term of this Agreement, Executive will devote all his business time, attention, skill, and efforts to the faithful performance of his duties under this Agreement;
provided, however, that from time to time, Executive may serve on the boards of directors of, and hold any other offices or positions in, companies or organizations that will not present any conflict of interest with the Bank or any of its
subsidiaries or affiliates, unfavorably affect the performance of Executive’s duties pursuant to this Agreement, or violate any applicable statute or regulation. Executive will not engage in any business or activity contrary to the business
affairs or interests of the Bank or any of its subsidiaries or affiliates. Executive further agrees to promptly disclose all current or future relationships with any entity that has an affiliation with the Bank or any of its subsidiaries or
affiliates. 

  

	 	b.	Nothing contained in this Agreement will prevent or limit Executive’s right to invest in the capital stock or other securities or interests of any business dissimilar from that
of the Bank, or, solely as a passive, minority investor, in any business. 

  

	 	c.	Executive agrees to maintain the confidentiality of any and all information concerning the operation or financial status of the Bank or its subsidiaries or affiliates; the names or
addresses of any borrowers, depositors and other customers; any information concerning or obtained from such customers; and any other information concerning the Bank or its subsidiaries or affiliates to which he may be exposed during the course of
his employment. Executive further agrees that, unless required by law or specifically permitted by the Board in writing, he will not disclose to any person or entity, either during or subsequent to his employment, any of the above-mentioned
information which is not generally known to the public, nor will he use the information in any way other than for the benefit of the Bank. 

 11. Termination and Termination Pay. Subject to Section 12 of this Agreement, Executive’s employment under this Agreement may be terminated in the following circumstances: 
  

	 	a.	Death. Executive’s employment under this Agreement will terminate upon his death during the term of this Agreement, in which event Executive’s estate will receive
the compensation due to Executive through the last day of the calendar month in which his death occurred. 

  

	 	b.	Retirement. This Agreement will terminate upon Executive’s retirement under the retirement benefit plan or plans in which he participates pursuant to Section 6 of
this Agreement or otherwise. 

  

	 	c.	 Disability. The Board or Executive may terminate Executive’s employment after having determined Executive has a Disability. For purposes of this
Agreement, “Disability” means a physical or mental infirmity that impairs Executive’s ability to substantially perform his duties under this Agreement and results in Executive becoming eligible for long-term disability benefits under
any long-term disability plan of the Bank (or, if no such plans exist, that impairs Executive’s ability to substantially perform his duties under this Agreement for a period of one hundred eighty (180) consecutive days). The Board will
determine whether or not Executive is and continues to be permanently disabled for purposes of this Agreement in good faith, based upon competent medical advice and other factors that the Board reasonably believes to be relevant. Executive shall be
entitled to the compensation and benefits provided for under this Agreement for (i) any period during the term of this Agreement and prior to the establishment of 

  

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Employee’s Disability during which Executive is unable to work due to such Disability, or (ii) any period of Disability prior to Executive’s
termination of employment due to Disability; provided, however, that any benefits paid pursuant to the Bank’s long-term disability plan will continue as provided in such plan. During any period Executive shall receive disability benefits and to
the extent he is physically and mentally able to do so, Executive shall continue to assist in the continued ongoing business of the Bank and, if able, shall make himself available to the Bank to undertake reasonable assignments consistent with his
prior position and his health. The Bank shall pay all reasonable expenses incident to the performance of any assignment given to Executive during the Disability period. 

  

	 	d.	Termination for Cause. 

  

	 	i.	The Board may, by written notice to Executive in the form and manner specified in this paragraph, immediately terminate his employment at any time for “Cause.” Executive
shall have no right to receive compensation or other benefits for any period after termination for Cause, except for already vested benefits. Termination for Cause shall mean termination because of Executive’s: 

  

	 	(1)	Personal dishonesty; 

  

	 	(2)	Incompetence; 

  

	 	(3)	Willful misconduct; 

  

	 	(4)	Breach of fiduciary duty involving personal profit; 

  

	 	(5)	Intentional failure to perform stated duties; 

  

	 	(6)	Willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order; or 

  

	 	(7)	Material breach of any provision of this Agreement. 

  

	 	ii.	Notwithstanding the foregoing, Executive’s termination for Cause will not become effective unless the Bank has delivered to Executive a copy of a resolution duly adopted by the
affirmative vote of a majority of the entire membership of the Board, at a meeting of the Board called and held for the purpose of finding that (after reasonable notice to Executive and an opportunity for Executive to be heard before the Board with
counsel), Executive engaged in conduct described above and specifying the particulars of this conduct. 

  

	 	e.	Voluntary Termination by Executive. In addition to his other rights to terminate under this Agreement, Executive may voluntarily terminate employment during the term of this
Agreement upon at least thirty (30) days prior written notice to the Board. Upon Executive’s voluntary termination, he will receive only his compensation, and vested rights and benefits to the date of his termination. Following his
voluntary termination of employment under this Section 11(e), Executive will be subject to the restrictions set forth in Sections 11(g)(i) and 11(g)(ii) of this Agreement for a period of one (1) year from his termination date.

  

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	 	f.	Without Cause or With Good Reason. 

  

	 	i.	In addition to termination pursuant to Sections 11(a) through 11(e), the Board may, by written notice to Executive, immediately terminate his employment at any time for a reason
other than Cause (a termination “Without Cause”) and Executive may, by written notice to the Board, immediately terminate this Agreement at any time within ninety (90) days following an event constituting “Good Reason,” as
defined below (a termination “With Good Reason”). 

  

	 	ii.	Subject to Section 12 of this Agreement, in the event of termination under this Section 11(f), Executive will receive a salary continuation benefit (determined based on
Executive’s base salary at his termination date) according to the following schedule: 

  

			
	 Termination Date
	  	 Salary Continuation Benefit

		
	 First 12 months of employment
	  	12 months’ base salary
		
	 12-24 months of employment
	  	24 months’ base salary
		
	 More than 24 months of employment
	  	36 months’ base salary

 The salary continuation benefit shall be paid in one lump sum within ten (10) calendar days
of Executive’s termination. Following termination of employment, executive will also continue to participate in any benefit plans of the Bank that provide medical, dental and life insurance coverage upon terms no less favorable than the most
favorable terms provided to senior executives. If the Bank cannot provide such coverage because Executive is no longer an employee, the Bank will provide Executive with comparable coverage on an individual basis or the cash equivalent. The medical,
dental and life insurance coverage provided under this Section 11(f) shall cease upon the earliest of: (i) Executive’s death; (ii) Executive’s employment by another employer other than one of which he is the majority owner;
or (iii) the expiration of the applicable salary continuation benefit period set forth above. 
  

	 	iii.	“Good Reason” exists if, without Executive’s express written consent, the Bank materially breaches any of its obligations under this Agreement. Without limitation,
such a material breach will occur upon any of the following: 

  

	 	(1)	A material reduction in Executive’s responsibilities or authority in connection with his employment with the Bank; 

  

	 	(2)	Assignment to Executive of duties of a non-executive nature or duties for which he is not reasonably equipped by his skills and experience; 

  

	 	(3)	Failure of Executive to be nominated or renominated to the Board; 

  

	 	(4)	 A reduction in salary or benefits contrary to the terms of this Agreement, or, following a Change in Control as defined in Section 12 of this Agreement, any
reduction in salary or material reduction in benefits below the amounts Executive was entitled to receive prior to the Change in Control; provided, 

  

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however, that a reduction or elimination of Executive’s benefits under one or more benefit plans maintained by the Bank as part of a good faith, overall
reduction or elimination of such plans or benefits, applicable to all participants in a manner that does not discriminate against Executive (except as such discrimination may be necessary to comply with law), will not constitute an event of Good
Reason or a material breach of this Agreement. 

  

	 	(5)	Termination of incentive and benefit plans, programs or arrangements, or reduction of Executive’s participation, to such an extent as to materially reduce their aggregate value
below their aggregate value as of the Effective Date; 

  

	 	(6)	A requirement that Executive relocate his principal business office or his principal place of residence outside of the area consisting of a twenty (20) mile radius from the
current main office and any branch of the Bank, or the assignment to Executive of duties that would reasonably require such a relocation; or 

  

	 	(7)	Liquidation or dissolution of the Bank. 

  

	 	g.	Continuing Covenant Not to Compete or Interfere with Relationships. Regardless of anything herein to the contrary, following a termination by the Bank or Executive pursuant
to Section 11(e) or 11(f), executive’s obligations under Section 10(c) of this Agreement will continue in effect. 

  

	 	h.	To the extent Executive is a member of the Board on the date of termination of employment with the Bank, Executive will resign from the Board immediately following such termination
of employment with the Bank. Executive will be obligated to tender this resignation regardless of the method or manner of termination, and such resignation will not be conditioned upon any event or payment. 

 12. Termination in Connection with a Change in Control. 
  

	 	a.	For purposes of this Agreement, a “Change in Control” means any of the following events: 

  

	 	i.	Merger: The Company merges into or consolidates with another entity, or merges another corporation into the Company, and as a result, less than a majority of the combined
voting power of the resulting corporation immediately after the merger or consolidation is held by persons who were stockholders of the Company immediately before the merger or consolidation; 

  

	 	ii.	Acquisition of Significant Share Ownership: There is filed, or is required to be filed, a report on Schedule 13D or another form or schedule (other than Schedule 13G)
required under Sections 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended, if the schedule discloses that the filing person or persons acting in concert has or have become the beneficial owner of 25% or more of a class of the
Company’s voting securities, but this clause (ii) shall not apply to beneficial ownership of Company voting shares held in a fiduciary capacity by an entity of which the Company directly or indirectly beneficially owns 50% or more of its
outstanding voting securities; 

  

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	 	iii.	Change in Board Composition: During any period of two consecutive years, individuals who constitute the Company’s Board of Directors at the beginning of the two-year
period cease for any reason to constitute at least a majority of the Company’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for
election by the members) by a vote of at least a majority of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or 

  

	 	iv.	Sale of Assets: The Company or the Bank sells to a third party all or substantially all of its assets. 

 Notwithstanding anything in this Agreement to the contrary, in no event shall the conversion of the Bank from mutual to stock form; i.e., a second step
conversion, constitute a “Change in Control” for purposes of this Agreement. 
  

	 	b.	Termination. If within the period ending one year after a Change in Control, (i) the Bank terminates Executive’s employment Without Cause, or (ii) Executive
voluntarily terminates his employment, the Bank will, within ten calendar days of Executive’s termination of employment, make a lump-sum cash payment to him equal to three times his then-current annual base salary. The cash payment made under
this Section 12(b) shall be made in lieu of any payment also required under Section 11(f) of this Agreement because of Executive’s termination of employment, however, Executive’s rights under Section 11(f) are not otherwise
affected by this Section 12. Following termination of employment, executive will also continue to participate in any benefit plans of the Bank that provide medical, dental and life insurance coverage upon terms no less favorable than the most
favorable terms provided to senior executives. If the Bank cannot provide such coverage because Executive is no longer an employee, the Bank will provide Executive with comparable coverage on an individual basis or the cash equivalent. The medical,
dental and life insurance coverage provided under this Section 12(b) shall cease upon the earlier of: (i) Executive’s death; (ii) Executive’s employment by another employer other than one of which he is the majority owner;
or (iii) thirty-six (36) months after his termination of employment. 

  

	 	c.	The provisions of Section 12 and Sections 14 through 26, including the defined terms used in such sections, shall continue in effect until the later of the expiration of this
Agreement or one year following a Change in Control. 

  

	 	d.	Notwithstanding the foregoing, any cash payable to Executive under Section 12(b.) of this Agreement shall be payable in a lump sum within 10 calendar days after
Executive’s termination of employment, provided, however, if, at the time of Executive’s termination of employment, Executive is a “specified employee” (as defined in Section 409A of the Internal Revenue Code of 1986) and
the payment under Section 12(b.) is subject to Section 409A of the Internal Revenue Code of 1986, then such payment shall not be made until six months and one day following the date of Executive terminates employment, except as may
otherwise be permitted under Section 409A of the Internal Revenue Code of 1986. 

  

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 13. Indemnification and Liability Insurance. 
  

	 	a.	Indemnification. The Bank agrees to indemnify Executive (and his heirs, executors, and administrators), and to advance expenses related to this indemnification, to the
fullest extent permitted under applicable law and regulations against any and all expenses and liabilities that Executive reasonably incurs in connection with or arising out of any action, suit, or proceeding in which he may be involved by reason of
his service as an officer or director of the Bank or any of its subsidiaries or affiliates (whether or not he continues to be an officer or director at the time of incurring any such expenses or liabilities). Covered expenses and liabilities
include, but are not limited to, judgments, court costs, and attorneys’ fees and the costs of reasonable settlements, subject to Board approval, if the action is brought against Executive in his capacity as an officer or director of the Bank or
any of its subsidiaries. Indemnification for expenses will not extend to matters related to Executive’s termination for Cause. Notwithstanding anything in this Section 13(a) to the contrary, the Bank will not be required to provide
indemnification prohibited by applicable law or regulation. The obligations of this Section 13 will survive the term of this Agreement by a period of six (6) years. 

  

	 	b.	Insurance. During the period for which the Bank must indemnify Executive, the Bank will provide Executive (and his heirs, executors, and administrators) with coverage under a
directors’ and officers’ liability policy at the Bank’s expense, that is at least equivalent to the coverage provided to directors and senior executives of the Bank. 

 14. Reimbursement of Executive’s Expenses to Enforce this Agreement. The Bank will reimburse Executive for all out-of-pocket expenses,
including, without limitation, reasonable attorneys’ fees, incurred by Executive in connection with his successful enforcement of the Bank’s obligations under this Agreement. Successful enforcement means the grant of an award of money or
the requirement that the Bank take some specified action: (i) as a result of court order; or (ii) otherwise following an initial failure of the Bank to pay money or take action promptly following receipt of a written demand from Executive
stating the reason that the Bank must make payment or take action under this Agreement. 
 15. Limitation of Benefits Under Certain
Circumstances. If the payments and benefits pursuant to Section 12 of this Agreement, either alone or together with other payments and benefits Executive has the right to receive from the Bank, would constitute a “parachute
payment” under Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), the payments and benefits pursuant to Section 12 shall be reduced or revised, in the manner determined by Executive, by the amount,
if any, which is the minimum necessary to result in no portion of the payments and benefits under Section 12 being non-deductible to the Bank pursuant to Section 280G of the Code and subject to the excise tax imposed under
Section 4999 of the Code. The Bank’s independent public accountants will determine any reduction in the payments and benefits to be made pursuant to Section 12; the Bank will pay for the accountant’s opinion. If the Bank and/or
Executive do not agree with the accountant’s opinion, the Bank will pay to Executive the maximum amount of payments and benefits pursuant to Section 12, as selected by Executive, that the opinion indicates have a high probability of not
causing any of the payments and benefits to be non-deductible to the Bank and subject to the imposition of the excise tax imposed under Section 4999 of the Code. The Bank may also request, and Executive has the right to demand that the Bank
request, a ruling from the IRS as to whether the disputed payments and benefits pursuant to Section 12 have such tax consequences. The Bank will promptly prepare and file the request for a ruling from the IRS, but in no event will the Bank make
this filing later than thirty (30) days from the date of the accountant’s opinion referred to above. The request will be subject to Executive’s approval prior to filing; Executive shall not unreasonably withhold his approval. The Bank
and Executive agree to be bound by any ruling received from the IRS and to make appropriate payments to each other to reflect any IRS rulings, together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code.
Nothing contained in this Agreement shall result in a reduction of any payments or benefits to which Executive may be entitled upon termination of employment other than pursuant to Section 12 hereof, or a reduction in the payments and benefits
specified in Section 12, below zero. 
  

 8 

 16. Injunctive Relief. Upon a breach or threatened breach of Section 11(g) of this
Agreement or the prohibitions upon disclosure contained in Section 10(c) of this Agreement, the parties agree that there is no adequate remedy at law for such breach, and the Bank shall be entitled to injunctive relief restraining Executive
from such breach or threatened breach, but such relief shall not be the exclusive remedy for a breach of this Agreement. The parties further agree that Executive, without limitation, may seek injunctive relief to enforce the obligations of the Bank
under this Agreement. 
 17. Successors and Assigns. 
  

	 	a.	This Agreement shall inure to the benefit of and be binding upon any corporate or other successor of the Bank which shall acquire, directly or indirectly, by merger, consolidation,
purchase or otherwise, all or substantially all of the assets or stock of the Bank. 

  

	 	b.	Since the Bank is contracting for the unique and personal skills of Executive, Executive shall not assign or delegate his rights or duties under this Agreement without first
obtaining the written consent of the Bank. 

 18. No Mitigation. Executive shall not be required to mitigate the
amount of any payment provided for in this Agreement by seeking other employment or otherwise and no such payment shall be offset or reduced by the amount of any compensation or benefits provided to Executive in any subsequent employment.

 19. Notices. All notices, requests, demands and other communications in connection with this Agreement shall be made in
writing and shall be deemed to have been given when delivered by hand or 48 hours after mailing at any general or branch United States Post Office, by registered or certified mail, postage prepaid, addressed to the Bank at their principal business
offices and to Executive at his home address as maintained in the records of the Bank. 
 20. No Plan Created by this Agreement.
Executive and the Bank expressly declare and agree that this Agreement was negotiated among them and that no provision or provisions of this Agreement are intended to, or shall be deemed to, create any plan for purposes of the Employee
Retirement Income Security Act of 1974 (“ERISA”) or any other law or regulation, and each party expressly waives any right to assert the contrary. Any assertion in any judicial or administrative filing, hearing, or process that an ERISA
plan was created by this Agreement shall be deemed a material breach of this Agreement by the party making the assertion. 
 21.
Amendments. No amendments or additions to this Agreement shall be binding unless made in writing and signed by all of the parties, except as herein otherwise specifically provided. 
 22. Applicable Law. Except to the extent preempted by federal law, the laws of Maryland shall govern this Agreement in all respects,
whether as to its validity, construction, capacity, performance or otherwise. 
 23. Severability. The provisions of this
Agreement shall be deemed severable and the invalidity or unenforceability of any one provision shall not affect the validity or enforceability of the other provisions of this Agreement. 
 24. Headings. Headings contained in this Agreement are for convenience of reference only. 
  

 9 

 25. Entire Agreement. This Agreement, together with any modifications subsequently agreed
to in writing by the parties, shall constitute the entire agreement among the parties with respect to the foregoing subject matter, other than written agreements applicable to specific plans, programs or arrangements described in Sections 5 and 6.

 26. Required Provisions. In the event any of the foregoing provisions of this Agreement conflict with the terms of this
Section 26, this Section 26 shall prevail. 
  

	 	a.	The Bank’s board of directors may terminate Executive’s employment at any time, but any termination by the Bank, other than termination for Cause, shall not prejudice
Executive’s right to compensation or other benefits under this Agreement. Executive shall not have the right to receive compensation or other benefits for any period after termination for Cause as defined in Section 11(d) of this
Agreement. 

  

	 	b.	If Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank’s affairs by a notice served under Section 8(e)(3) or
8(g)(1) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1818(e)(3) or (g)(1), the Bank’s obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the
notice are dismissed, the Bank may, in its discretion: (i) pay Executive all or part of the compensation withheld while its contract obligations were suspended; and (ii) reinstate (in whole or in part) any of the obligations which were
suspended. 

  

	 	c.	If Executive is removed and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8(e)(4) or 8(g)(1) of the
Federal Deposit Insurance Act, 12 U.S.C. Section 1818(e)(4) or (g)(1), all obligations of the Bank under this contract shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected.

  

	 	d.	If the Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1813(x)(1), all obligations under this contract shall
terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. 

  

	 	e.	All obligations under this contract shall terminate, except to the extent determined that continuation of the contract is necessary for the continued operation of the institution:
(i) by the Director of the Office of Thrift Supervision (OTS), or his designee, at the time the Federal Deposit Insurance Corporation (FDIC) enters into an agreement to provide assistance to or on behalf of the Bank under the authority
contained in Section 13(c) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1823(c), or (ii) by the Director of the OTS (or his designee) at the time the Director (or his designee) approves a supervisory merger to resolve
problems related to the operations of the Bank or when the Bank is determined by the Director to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action.

  

	 	f.	Any payments made to Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C. Section 1828(k) and FDIC Regulation
12 C.F.R. Part 359, Golden Parachute and Indemnification Payments. 

  

 10 

 27. Source of Payments. All payments provided in this Agreement shall be timely paid in
cash or check from the general funds of the Bank. BCSB Bancorp, Inc. or its successor however, unconditionally 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 BCSB Bancorp, Inc. or its successor. 
  

 11 

 IN WITNESS WHEREOF, the parties hereto have executed this amended and restated Agreement on
_________________, 2007. 
  

									
	ATTEST:	 		 	BALTIMORE COUNTY SAVINGS BANK
					
		 		 		 	By:	 	  
	Witness	 		 		 		 	For the Entire Board of Directors
			
	WITNESS:	 		 	EXECUTIVE
					
		 		 		 	By:	 	  
		 		 		 		 	Joseph J. Bouffard

  

 12

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