Document:

<PAGE>

                                                                   Exhibit 10.17

                                  GRANT NOTICE

         In consideration for the Holder's (as defined below) continued
performance of his duties (as set forth in the memorandum from the Compensation
Committee to the Holder dated May 9, 2003) as non-executive Chairman of AMF
Bowling Worldwide, Inc. (the "Company") and his agreement to the
Noncompetition/Nonsolicitation provisions set forth in the Option Agreement
(attached hereto as Exhibit A), the Company, pursuant to its 2002 Stock Option
Plan (the "Plan"), hereby grants to Holder an option to purchase the number of
shares of Stock set forth below. The Option is subject to all of the terms and
conditions as set forth herein and in the Option Agreement and the Plan, each of
which is incorporated herein in its entirety. Capitalized terms not otherwise
defined herein shall have the same meaning as set forth in the Plan.

 Holder:                                             Philip Maslowe
                                                     ---------------------------
 Date of Grant:                                      April 16, 2003
                                                     ---------------------------
 Number of Shares Subject to Option:                 80,000
                                                     ---------------------------
 Exercise Price per Share:                           $21.19
                                                     ---------------------------
 Expiration Date (not to exceed 10 years.):          April 16, 2013
                                                     ---------------------------

Type of Grant:                 Nonqualified Stock Option

Exercise Schedule:             Same as Vesting Schedule

Vesting Schedule:              To the extent not previously vested or canceled,
                               subject to the Holder's continued service as a
                               Director (as defined in the Option Agreement) (i)
                               the Option shall become immediately vested with
                               respect to 50,000 shares of Stock subject to the
                               Option upon a Covered Change of Control (as
                               defined in the Option Agreement) and (ii) the
                               remaining unvested portion of the Option (i.e.,
                               30,000 shares of Stock) shall become immediately
                               vested upon such Covered Change of Control if the
                               consideration (cash or the fair market value of
                               property) per share of Stock received by the
                               shareholders of the Company in connection with
                               such Covered Change of Control (or in connection
                               with an asset sale, the per share consideration
                               implied by the transaction) equals or exceeds
                               $28.00.

     The undersigned Holder acknowledges receipt of, and understands and agrees
to the terms of, this Grant Notice, the Option Agreement and the Plan.

<PAGE>

AMF BOWLING WORLDWIDE, Inc.                Holder

By: /s/ Christopher F. Caesar              By: /s/ Philip L. Maslowe
    -----------------------------              ---------------------------------
               Signature                                     Signature

Title: Senior VP, CFO                      Date: June 25, 2003
       --------------------------                -------------------------------

Date: June 10, 2003
      ---------------------------
                                        2

<PAGE>

                                    EXHIBIT A

                                OPTION AGREEMENT
                                    UNDER THE
               AMF BOWLING WORLDWIDE, INC. 2002 STOCK OPTION PLAN

     Pursuant to the Grant Notice (the "Grant Notice"), and subject to the terms
of this Option Agreement and the Company's 2002 Stock Option Plan (the "Plan"),
the Company and the Holder agree as follows. Capitalized terms not otherwise
defined herein shall have the same meaning as set forth in the Plan.

     1.    Grant of Option. Subject to the terms and conditions set forth herein
and in the Plan, the Company hereby grants to the Holder an Option to purchase
up to the number of shares of Stock provided in the Grant Notice, at an exercise
price as provided in the Grant Notice.

     2.    Vesting. Subject to the limitations contained herein, the Option
shall vest as provided in the Grant Notice, provided that, except as otherwise
provided herein, vesting will cease upon the Holder's termination as a member of
the Board of Directors of the Company ("Director").

     3.    Termination as a Director.

           (a)   If prior to the Expiration Date, the Holder shall cease to be a
Director for any reason, then the unvested portion of the Option shall
automatically expire; provided, that, in the event that the Holder ceases to be
a Director (i) due to the Holder's death or Disability or (ii) due to a
termination of the Holder's service by the Company without Cause (as defined
below) and a Covered Change of Control (as defined in Section 18(c)) occurs, to
the extent not previously vested or canceled, (A) the Option shall become
immediately vested and exercisable with respect to 50,000 shares of Stock
subject to the Option and (B) if the consideration (cash or the fair market
value of property) per share of Stock received by the shareholders of the
Company in connection with such Covered Change of Control (or in connection with
an asset sale, the per share consideration implied by the transaction) equals or
exceeds $28.00, the remaining unvested portion of the Option (i.e., 30,000
shares of Stock) shall become immediately vested and exercisable.

           (b)   If prior to the Expiration Date, the Holder shall cease to be a
Director for any reason, then except as otherwise provided in subsections 3(c)
and (d) below, the vested portion of the Option shall remain exercisable until
the earlier of (i) the Expiration Date or (ii) the later of the date that is (A)
three months following such termination as a Director and (B) three months
following a Covered Change of Control.

<PAGE>

           (c)   Notwithstanding subsection 3(b) hereof, if prior to the
Expiration Date, the Holder ceases to be a Director by reason of death or
Disability, the vested portion of the Option shall expire on the earlier of (i)
the Expiration Date or (ii) the later of the date that is (A) the one-year
anniversary of such termination due to death or Disability of the Holder and (B)
three months following a Covered Change of Control. Upon the Holder's death, the
Option shall remain exercisable by the person or persons to whom the Holder's
rights under the Option pass by will or the applicable laws of descent and
distribution until its expiration, but only to the extent the Option was vested
at the time of such termination due to death or Disability or becomes vested
following such termination due to death or Disability.

           (d)   Notwithstanding subsection 3(b) hereof, if prior to the
Expiration Date, the Holder ceases to be a Director by reason of termination by
the Company for Cause, the vested portion of the Option shall expire as of the
date of such termination for Cause. For purposes of this Agreement, "Cause"
means (i) commission of a felony; (ii) engaging in conduct that constitutes
gross neglect and results in material economic harm to the Company; (iii)
engaging in conduct that constitutes willful gross misconduct with respect to
the Holder's duties; (iv) failure to comply in a material respect with a policy
of the Company or a lawful and reasonable instruction or direction of the Board;
provided that in each instance, the Board will have determined Cause in good
faith and its reasonable judgment and will have determined that the basis or
facts relating to Cause resulted in or was likely to have resulted in harm to
the Company's reputation or financial harm to the Company. The Holder will have
30 days to remedy any Cause to the extent the applicable action or omission is
curable without residual harm to the Company.

        4. Method of Exercising Option. The Option may be exercised by the
delivery to the Company at its principal office or at such other address as may
be established by the Committee of written notice of the number of shares of
Stock with respect to which the Option is being exercised accompanied by payment
in full of the purchase price of such shares. Payment for such shares may be
made (a) in immediately available funds in United States dollars, by certified
or bank cashier's check, (b) by surrender to the Company of shares of Stock
which either (i) have been held by the Holder for at least six months, or (ii)
to the extent permitted by the Committee, were acquired from a person other than
the Company, (c) by any combination of (a) and (b), or (d) by any other means
approved by the Committee.

        5. Issuance of Shares. As promptly as practical after receipt of such
written notification and full payment of such purchase price and any required
income tax withholding amount, the Company shall issue or transfer to the Holder
the number of shares with respect to which the Option has been so exercised, and
shall deliver to the Holder a certificate or certificates therefore, registered
in the Holder's name.

                                       2

<PAGE>

           6.    Holder. Whenever the word "Holder" is used in any provision of
this Agreement under circumstances where the provision should logically be
construed to apply to the executors, the administrators, or the person or
persons to whom the Option may be transferred by will or by the laws of descent
and distribution, the word "Holder" shall be deemed to include such person or
persons.

           7.    Non-Transferability. The Option is not transferable by the
Holder otherwise than by will or the laws of descent and distribution and are
exercisable during the Holder's lifetime only by the Holder. Except as otherwise
provided herein, no assignment or transfer of the Option, or of the rights
represented thereby, whether voluntary or involuntary, by operation of law or
otherwise (except by will or the laws of descent and distribution), shall vest
in the assignee or transferee any interest or right herein whatsoever, but
immediately upon such assignment or transfer the Option shall terminate and
become of no further effect.

           8.    Rights as Stockholder. The Holder shall have no rights as a
stockholder with respect to any share covered by the Option until Holder shall
have become the holder of record of such share, and no adjustment shall be made
for dividends or distributions or other rights in respect of such share for
which the record date is prior to the date upon which the Holder shall become
the holder of record thereof.

           9.    Tax Withholding. As a condition of this Agreement, the Holder
agrees that at the time of exercise the Holder shall pay to the Company, or make
arrangements satisfactory to the Company regarding payment to the Company, of
the aggregate amount of federal, state and local income and payroll taxes, if
any, that the Company is required to withhold in connection with the exercise of
the Option.

           10.   Market Standoff Agreement. As a condition of receiving the
Option, the Holder agrees that in connection with any registration of the
Company's Stock and upon the request of the Committee or the underwriters
managing any public offering of the Company's Stock, the Holder will not sell or
otherwise dispose of any Stock without prior written consent of the Committee or
such underwriters, as the case may be, for a period of time (not to exceed 180
days) from the effective date of such registration as the Committee or the
underwriters may specify for employee shareholders generally.

           11.   Securities Law Compliance.

                 (a) Securities Laws Requirements. The Option shall not be
exercisable to any extent, and the Company shall not be obligated to transfer
any Stock to the Holder upon exercise of the Option, if such exercise, in the
opinion of counsel for the Company, would violate the Securities Act (or any
other federal or state statutes having similar requirements as may be in effect
at that time).

                                       3

<PAGE>

Further, the Company may require as a condition of transfer of Stock pursuant to
any exercise of the Option that the Holder furnish a written representation that
he or she is purchasing or acquiring the Stock for investment and not with a
view to resale or distribution to the public. The Holder hereby represents and
warrants that he or she understands that the Option Shares of Stock are
"restricted securities," as defined in Rule 144 under the Securities Act, and
that any resale of the Stock must be in compliance with the registration
requirements of the Securities Act or an exemption therefrom. Each certificate
representing Stock may bear the legend set forth below:

     THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
     UNDER THE SECURITIES ACT OF 1933 (THE "ACT") OR ANY STATE SECURITIES LAWS,
     AND NO TRANSFER OF THESE SECURITIES MAY BE MADE EXCEPT (A) PURSUANT TO AN
     EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, OR (B) PURSUANT TO AN
     EXEMPTION THEREFROM WITH RESPECT TO WHICH THE COMPANY MAY, UPON REQUEST,
     REQUIRE A SATISFACTORY OPINION OF COUNSEL FOR THE HOLDER THAT SUCH TRANSFER
     IS EXEMPT FROM THE REQUIREMENTS OF THE ACT.

Further, if the Company determines that the listing or qualification of the
Stock under any securities or other applicable law is necessary in order to
avoid a violation of any securities laws, the Option shall not be exercisable,
in whole or in part, unless and until such listing or qualification, or a
consent or approval with respect thereto, shall have been effected or obtained
free of any conditions not acceptable to the Company, provided, that the Company
shall pursue such listing or qualification diligently and in good faith.

     12.    Notice. Every notice or other communication relating to this
Agreement shall be in writing, and shall be mailed to or delivered to the party
for whom it is intended at such address as may from time to time be designated
by it in a notice mailed or delivered to the other party as herein provided,
provided that, unless and until some other address be so designated, all notices
or communications by the Holder to the Company shall be mailed or delivered to
the Company at its principal Holder office, and all notices or communications by
the Company to the Holder may be given to the Holder personally or may be mailed
to Holder at the Holder's last known address, as reflected in the Company's
records.

     13.    No Right to Continued Service. This Agreement does not confer upon
the Holder any right to continuance as a Director and the Company or may at any
time dismiss the Holder or discontinue any service relationship, free from any
liability or any claim under the Plan or this Option Agreement, except as
otherwise expressly provided herein.

                                       4

<PAGE>

     14.    Binding Effect. Subject to Section 7 hereof, this Agreement shall be
binding upon the heirs, executors, administrators and successors of the parties
hereto.

     15.    Waiver and Amendments. Any waiver, alteration, amendment or
modification of any of the terms of this Agreement shall be valid only if made
in writing and signed by the parties hereto; provided, however, that any such
waiver, alteration, amendment or modification is consented to on the Company's
behalf by the Board. No waiver by either of the parties hereto of their rights
hereunder shall be deemed to constitute a waiver with respect to any subsequent
occurrences or transactions hereunder unless such waiver specifically states
that it is to be construed as a continuing waiver.

     16.    Governing Law. This Agreement shall be construed and interpreted in
accordance with the laws of the Commonwealth of Virginia, without regard to the
principles of conflicts of law thereof.

     17.    Plan. The terms and provisions of the Plan are incorporated herein
by reference. Capitalized terms used herein which are not defined herein shall
have the meanings attributable thereto in the Plan. In the event of a conflict
or inconsistency between the terms and provisions of the Plan and the provisions
of this Agreement, the Plan shall govern and control.

     18.    Change of Control.

            (a)   Notwithstanding any other provision of this Agreement, (i) in
the event that a Covered Change of Control does not occur, the Option shall
immediately be cancelled without the payment of consideration or (ii) in the
event of a Covered Change of Control in which the consideration (cash or the
fair market value of property) per share of Stock received by the shareholders
of the Company in connection with such Covered Change of Control (or in
connection with an asset sale, the per share consideration implied by the
transaction) is less than $28.00, the Option shall be cancelled, without the
payment of consideration, with respect to 30,000 shares of Stock subject to the
Option effective as of the business day prior to the effective date of such
Covered Change of Control.

            (b)   For purposes of this Option Agreement, the term "Change of
Control" means the occurrence, in a single transaction or series of related
transactions, of any one of the following events or circumstances:

                  (i) the sale or disposition by the Company to a third party of
     at least eighty percent (80%) of the assets of the Company in one or a
     series of related transactions (an "Asset Sale"); provided that one or a
     series of transactions relating to the sale, transfer or disposition,
     directly or indirectly, of all or a portion of the Company's Products
     business and/or International Centers businesses to one or more buyers or
     investors (but not related to a transaction involving the U.S. Centers
     business) will not

                                       5

<PAGE>

     constitute an Asset Sale and any such businesses, if sold, shall not figure
     in the calculation of the 80% test; or

                  (ii) (x) any person or group (as such terms are defined in
     Sections 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as
     amended) becomes the beneficial owner, directly or indirectly, of more than
     50% of the total voting power of the voting stock of the Company (or any
     entity which controls the Company or which is a successor to all or
     substantially all of the assets of the Company), including by way of
     merger, consolidation, tender or exchange offer or otherwise (the
     "Acquiring Person"); provided, however, that for purposes of this Section
     18(b)(ii), a Change of Control shall not be deemed to have occurred unless
     each stockholder of the Company is offered the same consideration on the
     same terms by the Acquiring Person, and (y) the individuals who, as of the
     date hereof, constituted the Board (together with any new directors whose
     election by such Board or whose nomination for election by the shareholders
     of the Company was approved by a vote of a majority of the directors of the
     Company, then still in office, who were either directors as of the date
     hereof or whose election or nomination for election was previously so
     approved) cease to constitute a majority of the Board.

            (c)   For purposes of this Option Agreement, "Covered Change of
Control" means the consummation of a Change of Control which occurs on or prior
to December 31, 2003 or which is consummated after December 31, 2003 pursuant to
a binding agreement with the Company entered into on or prior to December 31,
2003.

     19.    Limitation on Vesting. Notwithstanding any other provision of this
Option Agreement , in the event the Company (or its successor) determines, based
upon the advice of the independent public accountants for the Company (the
"Accounting Firm"), that part or all of the vesting of the shares of Stock
subject to the Option under this Option Agreement constitutes "parachute
payments" under Section 280G(b)(2) of the Internal Revenue Code of 1986, as
amended, then, if the aggregate present value of such parachute payments,
singularly or together with the aggregate present value of any consideration,
compensation or benefits to be paid to Holder under any other plan, arrangement
or agreement which constitute "parachute payments" (collectively, the "Parachute
Amount") exceeds 2.99 times the Holder's "base amount", as defined in Section
280G(b)(3) of the Code (the "Holder Base Amount"), the number of shares of Stock
subject to the Option that would otherwise vest under this Option Agreement
shall be reduced to the extent determined by the Accounting Firm to be necessary
so that the Parachute Amount is equal to 2.99 times the Holder Base Amount (the
"Reduced Amount") and the balance of the Option (i.e., the unvested portion of
the Option after giving effect to such reduction) shall be immediately canceled
without the payment of consideration; provided that such vesting shall not be so
reduced if the Accounting Firm determines that without

                                       6

<PAGE>

such reduced vesting Holder would be entitled to receive and retain, on a net
after tax basis (including, without limitation, any excise taxes payable under
Section 4999 of the Code), an amount which is greater than the amount, on a net
after tax basis, that the Holder would be entitled to retain upon his receipt of
the Reduced Amount.

     20.    Noncompetition/Nonsolicitation.

            (a)   During his service as a Director and a two year period
following any termination of such service (the "Restricted Period"), the Holder
will not directly or indirectly participate in or permit his name directly or
indirectly to be used by or become associated with (including as an advisor,
representative, agent, independent contractor, provider or personal services or
otherwise) any person, corporation, partnership, association or entity that is,
or intends to be, engaged in any business that competes with the Business
(herein defined) of the Company in any country in which the Company operates,
competes or is engaged in the Business or at such time intends so to operate or
become engaged in the Business ("Competitor"). "Business" means the business of
operating bowling centers or manufacturing, distributing or selling bowling
equipment and products.

            (b)   During the Restricted Period, the Holder will not directly or
indirectly (A) encourage (or solicit or assist any other person or firm in
encouraging or soliciting) any person, who was engaged in a business
relationship with the Company during the one year period preceding his
termination as a Director, to engage in a business relationship with a
Competitor, or (B) induce any employee of the Company to terminate his or her
employment and will not directly or indirectly either individually or as owner,
agent, employee, consultant or otherwise, employ, offer employment or cause
employment to be offered to any person (including service as an independent
contractor) who is or was employed by the Company unless such person will have
ceased to be so employed for a period of at least 12 months.

            (c)   It is expressly understood and agreed that although Holder and
the Company consider the restrictions contained in this Section 20 to be
reasonable, if a final judicial determination is made by a court of competent
jurisdiction that the time or territory or any other restriction contained in
this Agreement is an unenforceable restriction against Holder, the provisions of
this Agreement shall not be rendered void but shall be deemed amended to apply
as to such maximum time and territory and to such maximum extent as such court
may judicially determine or indicate to be enforceable. Alternatively, if any
court of competent jurisdiction finds that any restriction contained in this
Agreement is unenforceable, and such restriction cannot be amended so as to make
it enforceable, such finding shall not affect the enforceability of any of the
other restrictions contained herein.

                                       7<PAGE>
                                                                    Exhibit 10.1

                              EMPLOYMENT AGREEMENT

     THIS AGREEMENT (the "Agreement"), made this 25/th/ day of June, 2003, by
and among JEFFERSON BANCSHARES, INC. (the "Company"), JEFFERSON FEDERAL BANK
(the "Bank") and ANDERSON L. SMITH ("Executive").

                               W I T N E S S E T H

     WHEREAS, the Bank has reorganized into the stock form of ownership with the
Company as its parent holding company;

     WHEREAS, the Company and the Bank desire to retain the services of the
Executive as the President and Chief Executive Officer of the Company and the
Bank following such reorganization;

     WHEREAS, Jefferson Bancshares, M.H.C. and the Bank had previously entered
into an employment agreement with the Executive;

     WHEREAS, Executive and the respective Boards of Directors of the Bank and
the Company desire to enter into an updated and revised agreement setting forth
the terms and conditions of the continuing employment of Executive and the
related rights and obligations of each of the parties;

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

     1.   Employment. Executive is employed as the President and Chief Executive
Officer and of the Company and the Bank. Executive shall perform all duties and
shall have all powers which are commonly incident to the offices of President
and Chief Executive Officer and which, consistent with those offices, are
delegated to him by the Chairman of the Board of Directors of the Bank and the
Company.

     2.   Location and Facilities. Executive will be furnished 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 Company and the Bank, or at such other site or sites customary
for such offices.

     3.   Term.

     a.   The term of this Agreement shall be (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 year anniversary date of this Agreement, and
          continuing on each anniversary thereafter, the disinterested members
          of the boards of directors of the Bank and the Company may extend the
          Agreement an additional year such that the remaining term of the
          Agreement shall be 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 of Directors
          of the Bank (the "Board") will review the Agreement and Executive's
          performance annually for purposes of determining

<PAGE>

          whether to extend the Agreement and the rationale and results thereof
          shall be included in the minutes of the Board's meeting. The Board of
          Directors of the Bank shall give notice to Executive as soon as
          possible after such review as to whether the Agreement is to be
          extended.

     4.   Base Compensation.

     a.   The Company and the Bank agree to pay the Executive during the term of
          this Agreement a base salary at the rate of $165,000 per year, payable
          in accordance with customary payroll practices.

     b.   The Board shall review annually the rate of the Executive's base
          salary based upon factors they deem relevant, and may maintain or
          increase his salary, provided that no such action shall reduce the
          rate of salary below the rate in effect on the Effective Date.

     c.   In the absence of action by the Board, the Executive shall continue to
          receive salary at the annual rate specified on the Effective Date or,
          if another rate has been established under the provisions of this
          Section 4, the rate last properly established by action of the Board
          under the provisions of this Section 4.

     d.   The Company and the Bank intend to allocate the compensation expenses
          associated with Executive's performance of services under this
          Agreement in accordance with the terms of the Expense Allocation
          Agreement entered into between the Bank and the Company.

     5.   Bonuses. In lieu of any bonus normally provided to permanent full-time
employees of the Bank, the Bank agrees to provide a bonus program to the
Executive which will provide the Executive with the opportunity to earn up to
50% of the Executive's base salary, on an annual basis, the amount of which
shall be determined by specific performance standards and a formula agreed to by
Executive and the Bank annually. Performance standards shall be measured on a
calendar year, and no bonus shall be payable if Executive is not employed on
December 31 of the year in question; provided, however, in the event of death of
the Executive, the bonus for the calendar year of Executive's death shall be
prorated on a quarterly basis, using the information for the quarter(s)
completed prior to Executive's death.

     6.   Benefit Plans. The Executive shall be entitled to participate in such
life insurance, medical, dental, pension, profit-sharing, retirement and
stock-based compensation plans and other programs and arrangements as may be
approved from time to time by the Company and the Bank for the benefit of their
employees. In addition, during the term of this Agreement, the Bank shall
provide the Executive with a supplemental life insurance policy with a death
benefit of not less than $350,000. Notwithstanding the termination of this
Agreement for any reason, other than upon the Executive's termination for Cause,
the Bank further agrees that the Executive shall receive a supplemental
retirement benefit of $15,083 per year, beginning during the calendar year in
which the Executive attains age 65 and continuing for a total of fifteen (15)
years.

     7.   Vacation and Leave.

     a.   The Executive shall be entitled to vacations and other leave in
          accordance with policy for senior executives, or otherwise as approved
          by the Board, but, in any event, not less than four (4) weeks vacation
          annually.

<PAGE>

     b.   In addition to paid vacations and other leave, the Executive shall be
          entitled, without loss of pay, to absent himself voluntarily from the
          performance of his employment for such additional periods of time and
          for such valid and legitimate reasons as the Board may in its
          discretion determine. Further, the Board may grant to the 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 Executive shall be reimbursed
for all reasonable out-of-pocket business expenses that he shall incur in
connection with his services under this Agreement upon substantiation of such
expenses in accordance with applicable policies of the Company and the Bank. In
addition, Executive shall receive an allowance of $2,400 per year for dues in
professional, social and civic organizations, and the sum of $1,200 per year for
miscellaneous expenses.

     9.   Automobile Allowance. During the term of this Agreement, the Executive
shall be entitled to an annual automobile allowance of $12,000, payable in equal
monthly installments. Executive shall comply with reasonable reporting and
expense limitations on the use of such automobile as may be established by the
Company or the Bank from time to time, and the Company or the Bank shall
annually include on Executive's Form W-2 any amount of income attributable to
Executive's personal use of such automobile.

     10.  Loyalty and Confidentiality; Noncompetition.

     a.   During the term of this Agreement, Executive: (i) shall devote all his
          time, attention, skill, and efforts to the faithful performance of his
          duties hereunder; 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 which will not present any
          conflict of interest with the Company and the Bank or any of their
          subsidiaries or affiliates, unfavorably affect the performance of
          Executive's duties pursuant to this Agreement, or violate any
          applicable statute or regulation and (ii) shall not engage in any
          business or activity contrary to the business affairs or interests of
          the Company and the Bank.

     b.   Nothing contained in this Agreement shall prevent or limit Executive's
          right to invest in the capital stock or other securities of any
          business dissimilar from that of the Company and 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
          Company and the Bank; the names or addresses of any of its borrowers,
          depositors and other customers; any information concerning or obtained
          from such customers; and any other information concerning the Company
          and the Bank to which he may be exposed during the course of his
          employment. The 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 shall he employ such information in
          any way other than for the benefit of the Company and the Bank.

     d.   Upon the termination of Executive's employment hereunder for any
          reason, Executive

<PAGE>

          agrees not to compete with the Bank for a period of two (2) years
          following such termination in any city, town or county in which the
          Executive's normal business office is located and the Bank has an
          office or has filed an application for regulatory approval to
          establish an office (or within a 60-mile radius of each of such
          offices), determined as of the effective date of such termination,
          except as agreed to pursuant to a resolution duly adopted by the
          Board. Executive agrees that during such period and within said
          cities, towns and counties, Executive shall not work for or advise,
          consult or otherwise serve with, directly or indirectly, any entity
          whose business materially competes with the depository, lending or
          other business activities of the Bank. The parties hereto, recognizing
          that irreparable injury will result to the Bank, its business and
          property in the event of Executive's breach of his obligations under
          this paragraph and agree that in the event of any such breach by
          Executive, the Bank, will be entitled, in addition to any other
          remedies and damages available, to an injunction to restrain the
          violation hereof by Executive, Executive's partners, agents, servants,
          employees and all persons acting for or under the direction of
          Executive. Nothing herein will be construed as prohibiting the Bank
          from pursuing any other remedies available to the Bank for such breach
          or threatened breach, including the recovery of damages from
          Executive.

     11.  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 shall terminate
          upon his death during the term of this Agreement, in which event
          Executive's estate shall be entitled to receive the compensation due
          to the Executive through the last day of the calendar month in which
          his death occurred.

     b.   Retirement. This Agreement shall be terminated 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.

          i.   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 that results in Executive
               becoming eligible for long-term disability benefits under any
               long-term disability plans of the Company and the Bank (or, if
               there are no such plans in effect, 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 shall 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
               they reasonably believe to be relevant. As a condition to any
               benefits, the Board may require Executive to submit to such
               physical or mental evaluations and tests as it deems reasonably
               appropriate.

          ii.  In the event of such Disability, Executive's obligation to
               perform services under this Agreement will terminate. The Bank
               will pay Executive, as Disability pay,

<PAGE>

               an amount equal to seventy-five (75) percent of Executive's
               weekly rate of base salary in effect as of the date of his
               termination of employment due to Disability. Disability payments
               will be made on a monthly basis and will commence on the first
               day of the month following the effective date of Executive's
               termination of employment for Disability and end on the earlier
               of: (A) the date he returns to full-time employment at the Bank
               in the same capacity as he was employed prior to his termination
               for Disability; (B) his death; or (C) the remaining term of the
               Agreement (if the Agreement had not been earlier terminated by
               the Executive's Disability). Such payments shall be reduced by
               the amount of any short- or long-term disability benefits payable
               to the Executive under any other disability programs sponsored by
               the Company and the Bank. In addition, during any period of
               Executive's Disability, Executive and his dependents shall, to
               the greatest extent possible, continue to be covered under all
               benefit plans (including, without limitation, retirement plans
               and medical, dental and life insurance plans) of the Company and
               the Bank, in which Executive participated prior to his Disability
               on the same terms as if Executive were actively employed by the
               Company and the Bank.

     d.   Termination for Cause.

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

               (1)  Personal dishonesty;

               (2)  Incompetence;

               (3)  Willful misconduct;

               (4)  Breach of fiduciary duty involving personal profit;

               (5)  Intentional failure to perform duties under this Agreement;

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

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

          ii.  Notwithstanding the foregoing, Executive shall not be deemed to
               have been terminated for Cause by the Company and the Bank unless
               there shall have been 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 such Board
               called and held for the purpose (after reasonable notice to
               Executive), of

<PAGE>

               finding that in the good faith opinion of the Board, Executive
               was guilty of the conduct described above and specifying the
               particulars thereof.

     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 sixty (60)
          days prior written notice to the Board, in which case Executive shall
          receive only his compensation, vested rights and employee benefits up
          to the date of his termination.

     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 shall be entitled
               to receive a payment equal to the base salary (determined by
               reference to the Executive's base salary on the termination date)
               and bonuses (determined by reference to the Executive's average
               bonus over the three (3) years preceding his termination date or
               such lesser period as he was employed by the Bank) that would
               otherwise have been payable over the remaining term of the
               Agreement. Such amount shall be paid in one lump sum within ten
               (10) calendar days of such termination. Also, in such event,
               Executive shall, for the remaining term of the Agreement, receive
               the benefits he would have received during the remaining term of
               the Agreement under any retirement programs (whether
               tax-qualified or non-qualified) in which Executive participated
               prior to his termination (with the amount of the benefits
               determined by reference to the benefits received by the Executive
               or accrued on his behalf under such programs during the twelve
               (12) months preceding his termination) and continue to
               participate in any benefit plans of the Company and the Bank that
               provide health (including medical and dental), life, or similar
               coverage upon terms no less favorable than the most favorable
               terms provided to senior executives of the Company and the Bank
               during such period. In the event that the Company and the Bank
               are unable to provide such coverage by reason of Executive no
               longer being an employee, the Company and the Bank shall provide
               Executive with comparable coverage on an individual policy basis.

          iii. "Good Reason" shall exist if, without Executive's express written
               consent, the Company and the Bank materially breach any of their
               respective obligations under this Agreement. Without limitation,
               such a material breach shall be deemed to occur upon any of the
               following:

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

               (2)  Assignment to Executive of duties of a non-executive nature
                    or duties for

<PAGE>

                    which he is not reasonably equipped by his skills and
                    experience;

               (3)  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 to which he
                    was entitled prior to the Change in Control;

               (4)  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; or

               (5)  A requirement that Executive relocate his principal business
                    office or his principal place of residence outside of the
                    area consisting of a twenty-five (25) 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

          iv.  Notwithstanding the foregoing, a reduction or elimination of
               Executive's benefits less than one or more benefit plans
               maintained by the Company and the Bank as part of a good faith,
               overall reduction or elimination of such plans or benefits
               thereunder applicably to all participants in a manner that does
               not discriminate against Executive (except as such discrimination
               may be necessary to comply with law) shall not constitute an
               event of Good Reason or a material breach of this Agreement,
               provided that benefits of the type or to the general extent as
               those offered under such plans prior to such reduction or
               elimination are not available to other officers of the Company
               and the Bank or any company that controls either of them under a
               plan or plans in or under which Executive is not entitled to
               participate.

     12.  Termination in Connection with a Change in Control.

     a.   For purposes of this Agreement, a "Change in Control" shall be deemed
          to occur on the earliest of:

          (i)  Merger: The Company merges into or consolidates with another
               corporation, 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: a report on Schedule
               13D or another form or schedule (other than Schedule 13G) is
               filed or is required to be filed under Sections 13(d) or 14(d) of
               the Securities Exchange Act of 1934, 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

<PAGE>

                directly or indirectly beneficially owns 50% or more of its
                outstanding voting securities;

          (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
                stockholders) by a vote of at least two-thirds of the directors
                who were directors at the beginning of the period shall be
                deemed to have been a director at the beginning of the two-year
                period; or

          (iv)  Sale of Assets: Company sells to a third party all or
                substantially all of the Company's assets.

     b.   Termination. If within the period ending two years after a Change in
          Control, (i) the Company and the Bank shall terminate the Executive's
          employment Without Cause, or (ii) Executive voluntarily terminates his
          employment With Good Reason, the Company and the Bank shall, within
          ten calendar days of the termination of Executive's employment, make a
          lump-sum cash payment to him equal to 2.99 times the Executive's
          average Annual Compensation over the five (5) most recently completed
          calendar years ending with the year immediately preceding the
          effective date of the Change in Control (or such lesser number of
          completed calendar years as the Executive has been employed by the
          Company and the Bank). In determining Executive's average Annual
          Compensation, Annual Compensation shall include base salary and any
          other taxable income, including but not limited to amounts related to
          the granting, vesting or exercise of restricted stock or stock option
          awards, commissions, bonuses (whether paid or accrued for the
          applicable period), as well as, retirement benefits, director or
          committee fees and fringe benefits paid or to be paid to Executive or
          paid for Executive's benefit during any such year, profit sharing,
          employee stock ownership plan and other retirement contributions or
          benefits, including to any tax-qualified plan or arrangement (whether
          or not taxable) made or accrued on behalf of Executive of such year.
          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 a termination in such period. Executive's rights under
          Section 11(f) are not otherwise affected by this Section 12. Also, in
          such event, the Executive shall, for a thirty-six (36) month period
          following his termination of employment, receive the benefits he would
          have received over such period under any retirement programs (whether
          tax-qualified or nonqualified) in which the Executive participated
          prior to his termination (with the amount of the benefits determined
          by reference to the benefits received by the Executive or accrued on
          his behalf under such programs during the twelve (12) months preceding
          the Change in Control) and continue to participate in any benefit
          plans of the Company and the Bank that provide health (including
          medical and dental), life, or similar coverage upon terms no less
          favorable than the most favorable terms provided to senior executives
          during such period. In the event that the Company and the Bank are
          unable to provide such coverage by reason of the Executive no longer
          being an employee, the Company and the Bank shall provide the
          Executive with comparable coverage on an individual policy.

<PAGE>

     c.   The provisions of Sections 12 and Sections 14 through 25, including
          the defined terms used is such sections, shall continue in effect
          until the later of the expiration of this Agreement or two years
          following a Change in Control.

     13.  Indemnification and Liability Insurance.

     a.   Indemnification. The Company and the Bank agree to indemnify Executive
          (and his heirs, executors, and administrators), and to advance
          expenses related thereto, to the fullest extent permitted under
          applicable law and regulations against any and all expenses and
          liabilities reasonably incurred by him in connection with or arising
          out of any action, suit, or proceeding in which he may be involved by
          reason of his having been a director or executive of the Company, the
          Bank or any of their subsidiaries (whether or not he continues to be a
          director or executive at the time of incurring any such expenses or
          liabilities) such expenses and liabilities to include, but not be
          limited to, judgments, court costs, and attorneys' fees and the cost
          of reasonable settlements, such settlements to be approved by the
          Board, if such action is brought against Executive in his capacity as
          an executive or director of the Company and the Bank or any of their
          subsidiaries. Indemnification for expense shall not extend to matters
          for which the Executive has been terminated for Cause. Nothing
          contained herein shall be deemed to provide indemnification prohibited
          by applicable law or regulation. Notwithstanding anything herein to
          the contrary, the obligations of this Section 13 shall survive the
          term of this Agreement by a period of six (6) years.

     b.   Insurance. During the period in which indemnification of Executive is
          required under this Section, the Company and the Bank shall provide
          the Executive (and his heirs, executors, and administrators) with
          coverage under a directors' and Executives' liability policy at the
          expense of the Company and the Bank, at least equivalent to such
          coverage provided to directors and senior Executives of the Company
          and the Bank.

     14.  Reimbursement of Executive's Expenses to Enforce this Agreement. The
Company and the Bank shall reimburse the Executive for all out-of-pocket
expenses, including, without limitation, reasonable attorneys' fees, incurred by
the Executive in connection with successful enforcement by the Executive of the
obligations of the Company and the Bank to the Executive under this Agreement.
Successful enforcement shall mean the grant of an award of money or the
requirement that the Company and the Bank take some action specified by this
Agreement (i) as a result of court order; or (ii) otherwise by the Company and
the Bank following an initial failure of the Company and the Bank to pay such
money or take such action promptly after written demand therefor from the
Executive stating the reason that such money or action was due under this
Agreement at or prior to the time of such demand.

     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 which the Executive has the right to receive
from the Company and the Bank, would constitute a "parachute payment" under
Section 280G of the Code, the payments and benefits pursuant to Section 12 shall
be reduced or revised, in the manner determined by the 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 Company and the Bank
pursuant to Section 280G of the Code and subject to the excise tax imposed under
Section 4999 of the Code. The determination of any reduction in the payments and
benefits to be made pursuant to Section 12 shall be based upon the opinion of
the Company and the Bank's independent public accountants and paid for by the
Company and the Bank. In the event that the

<PAGE>

Company, the Bank and/or the Executive do not agree with the opinion of such
counsel, (i) the Company and the Bank shall pay to the Executive the maximum
amount of payments and benefits pursuant to Section 12, as selected by the
Executive, which opinion indicates there is a high probability of such payments
and benefits being non-deductible to the Company and the Bank and subject to the
imposition of the excise tax imposed under Section 4999 of the Code and (ii) the
Company and the Bank may request, and the Executive shall have the right to
demand that they request, a ruling from the IRS as to whether the disputed
payments and benefits pursuant to Section 12 have such consequences. Any such
request for a ruling from the IRS shall be promptly prepared and filed by the
Company and the Bank, but in no event later than thirty (30) days from the date
of the opinion of counsel referred to above, and shall be subject to the
Executive's approval prior to filing, which shall not be unreasonably withheld.
The Company, the Bank and the Executive agree to be bound by any ruling received
from the IRS and to make appropriate payments to each other to reflect any such
rulings, together with interest at the applicable federal rate provided for in
Section 7872(f)(2) of the Code. Nothing contained herein shall result in a
reduction of any payments or benefits to which the 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.

     16.  Injunctive Relief. If there is a breach or threatened breach of
Section 10 of this Agreement, the parties agree that there is no adequate remedy
at law for such breach, and that the Company and the Bank shall be entitled to
injunctive relief restraining the Executive from such breach or threatened
breach, but such relief shall not be the exclusive remedy hereunder for such
breach. The parties hereto likewise agree that the Executive, without
limitation, shall be entitled to injunctive relief to enforce the obligations of
the Company and 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 Company and 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
          Company and the Bank.

     b.   Since the Company and the Bank are contracting for the unique and
          personal skills of Executive, Executive shall be precluded from
          assigning or delegating his rights or duties hereunder without first
          obtaining the written consent of the Company and 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 Company and/or the Bank at their principal business
offices and to Executive at his home address as maintained in the records of the
Company and the Bank.

     20.  No Plan Created by this Agreement. Executive, the Company 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

<PAGE>

Retirement Income Security Act 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 such a plan was so created by
this Agreement shall be deemed a material breach of this Agreement by the party
making such an 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 the State of Tennessee 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 provision shall not
affect the validity or enforceability of the other provisions hereof.

     24.  Headings. Headings contained herein are for convenience of reference
only.

     25.  Entire Agreement. This Agreement, together with any understanding or
modifications thereof as agreed to in writing by the parties, shall constitute
the entire agreement among the parties hereto with respect to the subject matter
hereof, other than written agreements with respect to specific plans, programs
or arrangements described in Sections 5 and 6. The parties agree that this
Agreement supercedes and replaces in its entirety the Agreement between the
Executive, the Bank and the Company dated January 1, 2003.

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

     a.   The Bank 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 7 hereinabove.

     b.   If Executive is suspended from office and/or temporarily prohibited
          from participating

<PAGE>

          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.
          (S)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 their 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. (S)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. (S)1813(x)(1) all obligations of the
          Bank 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 of the Bank under this contract shall be terminated,
          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 OTS (or his designee), the FDIC or the Resolution
          Trust Corporation, at the time the 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. (S)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 compliance with 12
          U.S.C. (S)1828(k) and 12 C.F.R. Section 545.121 and any rules and
          regulations promulgated thereunder.

<PAGE>

                                                                    Exhibit 10.1

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

Attest:                             JEFFERSON BANCSHARES, INC.

/s/ Susan A. Greene                By:   /s/ John F. McCrary, Jr.
-----------------------                  ---------------------------------------

Attest:                             JEFFERSON FEDERAL BANK

/s/ Susan A. Greene                By:   /s/ John F. McCrary, Jr.
-----------------------                  ---------------------------------------
                                          Chairman of the Board of Directors

Witness:                            EXECUTIVE

/s/ William T. Hale                 /s/ Anderson L. Smith
-----------------------             --------------------------------------------
                                    Anderson L. Smith

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00056-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00056-of-00352.parquet"}]]