Document:

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                                                                   EXHIBIT 10.09

                                     FORM OF
     FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION CHANGE IN CONTROL SEVERANCE
                               COMPENSATION PLAN

A. PURPOSE.

      The purpose of the First Federal Savings and Loan Association Change in
Control Severance Compensation Plan (the "Plan") is to ensure the successful
continuation of the business of First Federal Savings and Loan Association (the
"Bank") and the fair and equitable treatment of employees following a Change in
Control (as defined below).

B. COVERED EMPLOYEES.

      Subject to paragraph C below, any employee of the Bank (or a subsidiary
that has adopted that Plan in accordance with paragraph H) with at least one
year of service as of his or her termination date shall be eligible to receive
a Change in Control Severance Benefit (as defined below) if, within the period
beginning on the effective date of a Change in Control and ending on the first
anniversary of such date, (i) the employee's employment is involuntarily
terminated or (ii) the employee terminates employment voluntarily after being
offered continued employment in a position that is not a Comparable Position (as
defined below).

C. LIMITATIONS ON ELIGIBILITY FOR CHANGE IN CONTROL SEVERANCE BENEFITS.

      1. No employee shall be eligible for a Change in Control Severance Benefit
if (a) his or her employment is terminated for "Cause", (b) he or she is offered
a Comparable Position and declines to accept such position or (c) the employee
is, at the time of termination of employment, a party to an individual
employment agreement or change in control agreement.

      2. For purposes of this Plan, a termination of employment for "Cause"
shall include termination because of the employee's personal dishonesty,
incompetence, willful misconduct, breach of fiduciary duty involving personal
profit, intentional failure to perform stated duties, willful violation of any
law, rule or regulation (other than traffic violations or similar offenses) or
violation of any final cease-and desist order, or material breach of any
provision of the plan.

      3. For purposes of this Plan, a "Comparable Position" shall mean a
position that would (i) provide the employee with base compensation and benefits
that are comparable in the aggregate to those provided to the employee prior to
the Change in Control, (ii) provide the employee with an opportunity for
variable bonus compensation that is comparable to the opportunity provided to
the employee prior to the Change in Control, (iii) be in a location that would
not require the employee to increase his or her daily one way commuting distance
by more than twenty-five (25) miles as compared to the employee's commuting
distance immediately prior to the Change in Control and (iv) have job skill
requirements and duties that are comparable to the requirements and duties of
the position held by the employee prior to the Change in Control.

<PAGE>

D. DEFINITION OF CHANGE IN CONTROL.

      For purposes of this Plan, "Change in Control" means the occurrence of any
one of the following events:

      (1)   Merger: Kentucky First Federal Bancorp, Inc. (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.

      (2)   Acquisition of Significant Share Ownership: The Company files, or is
            required to file, 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, 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 (b) 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.

      (3)   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 stockholders) by a vote of at least
            two-thirds (2/3) 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

      (4)   Sale of Assets: The Company sells to a third party all or
            substantially all of its assets.

E. DETERMINATION OF THE CHANGE IN CONTROL SEVERANCE BENEFIT.

      The Change in Control Severance Benefit payable to an eligible employee
under this Plan shall be determined as follows:

      (1)   An eligible employee who becomes entitled to receive a Change in
            Control Severance Payment under the Plan shall receive a benefit
            determined under the following schedule:

            (a)   The basic benefit under the Plan shall be determined as the
                  product of (i) the employee's years of service from his or her
                  hire date (including partial years) through the termination
                  date and (ii) one (1) month of the employee's Base
                  Compensation (as defined below). A "year of service" shall
                  mean each 12-month period of service following an employee's
                  hire date determined without regard to the number of hours
                  worked during such period(s).

            [(b)  EACH PARTICIPANT WHO IS A DESIGNATED OFFICER AND WHO IS
                  ENTITLED TO A PAYMENT UNDER THIS PLAN SHALL RECEIVE FROM THE
                  BANK, A LUMP SUM CASH PAYMENT EQUAL TO THE GREATER OF (i) A
                  PAYMENT DETERMINED UNDER THE FORMULA IN SUBPARAGRAPH (a) ABOVE
                  OR (II) ____ TIMES THE OFFICER'S BASE SALARY AS OF HIS
                  TERMINATION DATE. FOR

                                       2

<PAGE>

                  PURPOSES OF THIS PLAN, A "DESIGNATED OFFICER" IS AN OFFICER OF
                  THE BANK OR THE COMPANY SELECTED BY THE BOARD OF DIRECTORS OF
                  THE BANK TO RECEIVE A SEVERANCE BENEFIT UNDER THIS
                  SUBPARAGRAPH (b).]

            (c)   Notwithstanding anything in this Plan to the contrary, the
                  minimum payment to an eligible employee under this Plan shall
                  be one (1) month of Base Compensation and the maximum payment
                  to an eligible employee shall not exceed twelve (12) months
                  of Base Compensation.

      (2)   The Change in Control Severance payment shall be made in a lump sum
            not later than five (5) business days after the date of the
            employee's termination of employment.

      (3)   For the purpose of making severance determinations under this
            paragraph D, "Base Compensation" shall mean:

            (a)   for salaried employees, the employee's annual base salary at
                  the rate in effect on his or her termination date or, if
                  greater, the rate in effect on the date immediately preceding
                  the Change in Control.

            (b)   for employees whose compensation is determined in whole or in
                  part on the basis of commission income, the employee's base
                  salary at termination (or, if greater, the base salary on the
                  date immediately preceding the effective date of the Change in
                  Control), if any, plus the commissions earned by the employee
                  in the twelve (12) full calendar months preceding his or her
                  termination date (or, if greater, the commissions earned in
                  the twelve (12) full calendar months immediately preceding the
                  effective date of the Change in Control).

            (c)   for hourly employees, the employee's total hourly wages for
                  the twelve (12) full calendar months preceding his or her
                  termination date or, if greater, the twelve (12) full calendar
                  months preceding the effective date of the Change in Control.

F. WITHHOLDING.

      All payments will be subject to customary withholding for federal, state
and local tax purposes.

G. PARACHUTE PAYMENT.

      Notwithstanding anything in this Plan to the contrary, if a benefit to an
employee who is a "Disqualified Individual" shall be in an amount which includes
an "Excess Parachute Payment" taking into account payments under this Plan and
otherwise, the benefit under this Plan to that employee shall be reduced to the
maximum amount which does not include an Excess Parachute Payment. The terms
"Disqualified Individual" and "Excess Parachute Payment" shall have the same
meanings as under Section 280G of the Internal Revenue Code of 1986, as amended,
or any successor provision thereto.

H. ADOPTION BY SUBSIDIARIES.

      Upon approval by the Board of Directors of the Bank, this Plan may be
adopted by any subsidiary of the Bank. Upon such adoption, the subsidiary shall
become an Employer hereunder and the provisions of the Plan shall be fully
applicable to the Employees of that subsidiary.

                                       3

<PAGE>

I. ADMINISTRATION.

      The Plan is administered by the Board of Directors of the Bank, which
shall have the discretion to interpret the terms of the Plan and to make all
determinations regarding eligibility for and payment of benefits. All decisions
of the Board, any action taken by the Board with respect to the Plan and within
the powers granted to the Board under the Plan, and any interpretation by the
Board of any term or condition of the Plan, are conclusive and binding on all
persons, and will be given the maximum possible deference allowed by law. The
Board may delegate and reallocate any authority and responsibility with respect
to the Plan.

J. SOURCE OF PAYMENTS.

      All amounts payable under the Plan will be paid in cash from the general
funds of the Bank; no separate fund will be established under the Plan; and the
Plan will have no assets.

K. INALIENABILITY.

      In no event may any Employee sell, transfer, anticipate, assign or
otherwise dispose of any right or interest under the Plan. At no time will any
such right or interest be subject to the claims of creditors, nor liable to
attachment, execution or other legal process.

L. GOVERNING LAW.

      The provisions of the Plan will be construed, administered and enforced in
accordance with the laws of Kentucky, except to the extent that federal law
applies.

M. SEVERABILITY.

      If any provision of the Plan is held invalid or unenforceable, its
invalidity or unenforceability will not affect any other provision of the Plan,
and the Plan will be construed and enforced as if such provision had not been
included.

N. NO EMPLOYMENT RIGHTS.

      Neither the establishment nor the terms of this Plan shall be held or
construed to confer upon any employee any right to continued employment by the
Bank, nor shall they constitute a contract of employment, express or implied.
The Bank reserves the right to dismiss or discipline any employee to the same
extent and on the same basis as though this Plan had not been adopted. Nothing
in this Plan is intended to alter the at-will status of the Bank's employees.
Except to the extent otherwise expressly set forth to the contrary in an
individual employment-related agreement, the employment of any employee may be
terminated at any time by either the Bank or the employee with or without cause.

O. AMENDMENT AND TERMINATION.

      The Plan may be terminated or amended in any respect by resolution adopted
by a majority of the Board of Directors of the Bank, unless a Change in Control
has previously occurred. If a Change in Control occurs, the Plan no longer shall
be subject to amendment, change, substitution, deletion, revocation or
termination in any respect whatsoever. The form of any proper amendment or
termination of the Plan shall be a written instrument signed by a duly
authorized officer or officers of the Bank, certifying that the amendment or
termination has been approved by the Board of Directors. A proper

                                       4

<PAGE>

amendment of the Plan automatically shall effect a corresponding amendment to
each Participant's rights hereunder. A proper termination of the Plan
automatically shall effect a termination of all employees' rights and benefits
hereunder.

                                       5

<PAGE>

      IN WITNESS WHEREOF, a duly authorized officer of the Bank has executed
this Plan as of the date first above written.

ATTEST:                               FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION

______________________________        __________________________________________

241501

                                       6<PAGE>

                                                                   EXHIBIT 10.10

                                     FORM OF
                     FIRST FEDERAL SAVINGS BANK OF FRANKFORT
                  CHANGE IN CONTROL SEVERANCE COMPENSATION PLAN

A.    PURPOSE.

      The purpose of the First Federal Savings Bank of Frankfort Change in
Control Severance Compensation Plan (the "Plan") is to ensure the successful
continuation of the business of First Federal Savings Bank of Frankfort (the
"Bank") and the fair and equitable treatment of employees following a Change in
Control (as defined below).

B.    COVERED EMPLOYEES.

      Subject to paragraph C below, any employee of the Bank (or a subsidiary
that has adopted that Plan in accordance with paragraph H) with at least one
year of service as of his or her termination date shall be eligible to receive a
Change in Control Severance Benefit (as defined below) if, within the period
beginning on the effective date of a Change in Control and ending on the first
anniversary of such date, (i) the employee's employment is involuntarily
terminated or (ii) the employee terminates employment voluntarily after being
offered continued employment in a position that is not a Comparable Position (as
defined below).

C.    LIMITATIONS ON ELIGIBILITY FOR CHANGE IN CONTROL SEVERANCE BENEFITS.

      1. No employee shall be eligible for a Change in Control Severance Benefit
if (a) his or her employment is terminated for "Cause", (b) he or she is offered
a Comparable Position and declines to accept such position or (c) the employee
is, at the time of termination of employment, a party to an individual
employment agreement or change in control agreement.

      2. For purposes of this Plan, a termination of employment for "Cause"
shall include termination because of the employee's personal dishonesty,
incompetence, willful misconduct, breach of fiduciary duty involving personal
profit, intentional failure to perform stated duties, willful violation of any
law, rule or regulation (other than traffic violations or similar offenses) or
violation of any final cease-and desist order, or material breach of any
provision of the plan.

      3. For purposes of this Plan, a "Comparable Position" shall mean a
position that would (i) provide the employee with base compensation and benefits
that are comparable in the aggregate to those provided to the employee prior to
the Change in Control, (ii) provide the employee with an opportunity for
variable bonus compensation that is comparable to the opportunity provided to
the employee prior to the Change in Control, (iii) be in a location that would
not require the employee to increase his or her daily one way commuting distance
by more than twenty-five miles as compared to the employee's commuting distance
immediately prior to the Change in Control and (iv) have job skill requirements
and duties that are comparable to the requirements and duties of the position
held by the employee prior to the Change in Control.

<PAGE>

D.    DEFINITION OF CHANGE IN CONTROL.

      For purposes of this Plan, "Change in Control" means the occurrence of any
one of the following events:

      (1)   Merger: Kentucky First Federal Bancorp, Inc. (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.

      (2)   Acquisition of Significant Share Ownership: The Company files, or is
            required to file, 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, 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 (b) 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.

      (3)   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 stockholders) by a vote of at least
            two-thirds (2/3) 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

      (4)   Sale of Assets: The Company sells to a third party all or
            substantially all of its assets.

E.    DETERMINATION OF THE CHANGE IN CONTROL SEVERANCE BENEFIT.

      The Change in Control Severance Benefit payable to an eligible employee
under this Plan shall be determined as follows:

      (1)   An eligible employee who becomes entitled to receive a Change in
            Control Severance Payment under the Plan shall receive a benefit
            determined under the following schedule:

            (a)   The basic benefit under the Plan shall be determined as the
                  product of (i) the employee's years of service from his or her
                  hire date (including partial years) through the termination
                  date and (ii) one (1) month of the employee's Base
                  Compensation (as defined below). A "year of service" shall
                  mean each 12-month period of service following an employee's
                  hire date determined without regard to the number of hours
                  worked during such period(s).

            [(b)  EACH PARTICIPANT WHO IS A DESIGNATED OFFICER AND WHO IS
                  ENTITLED TO A PAYMENT UNDER THIS PLAN SHALL RECEIVE FROM THE
                  BANK, A LUMP SUM CASH PAYMENT EQUAL TO THE GREATER OF (i) A
                  PAYMENT DETERMINED UNDER THE FORMULA IN SUBPARAGRAPH (a) ABOVE
                  OR (ii) ____ TIMES THE OFFICER'S BASE SALARY AS OF HIS
                  TERMINATION DATE. FOR

                                       2
<PAGE>

                  PURPOSES OF THIS PLAN, A "DESIGNATED OFFICER" IS AN OFFICER OF
                  THE BANK OR THE COMPANY SELECTED BY THE BOARD OF DIRECTORS OF
                  THE BANK TO RECEIVE A SEVERANCE BENEFIT UNDER THIS
                  SUBPARAGRAPH (b).]

            (c)   Notwithstanding anything in this Plan to the contrary, the
                  minimum payment to an eligible employee under this Plan shall
                  be one (1) month of Base Compensation and the maximum payment
                  to an eligible employee shall not exceed twelve (12) months of
                  Base Compensation.

      (2)   The Change in Control Severance payment shall be made in a lump sum
            not later than five (5) business days after the date of the
            employee's termination of employment.

      (3)   For the purpose of making severance determinations under this
            paragraph D, "Base Compensation" shall mean:

            (a)   for salaried employees, the employee's annual base salary at
                  the rate in effect on his or her termination date or, if
                  greater, the rate in effect on the date immediately preceding
                  the Change in Control.

            (b)   for employees whose compensation is determined in whole or in
                  part on the basis of commission income, the employee's base
                  salary at termination (or, if greater, the base salary on the
                  date immediately preceding the effective date of the Change in
                  Control), if any, plus the commissions earned by the employee
                  in the twelve (12) full calendar months preceding his or her
                  termination date (or, if greater, the commissions earned in
                  the twelve (12) full calendar months immediately preceding the
                  effective date of the Change in Control).

            (c)   for hourly employees, the employee's total hourly wages for
                  the twelve (12) full calendar months preceding his or her
                  termination date or, if greater, the twelve (12) full calendar
                  months preceding the effective date of the Change in Control.

F.    WITHHOLDING.

      All payments will be subject to customary withholding for federal, state
and local tax purposes.

G.    PARACHUTE PAYMENT.

      Notwithstanding anything in this Plan to the contrary, if a benefit to an
employee who is a "Disqualified Individual" shall be in an amount which includes
an "Excess Parachute Payment" taking into account payments under this Plan and
otherwise, the benefit under this Plan to that employee shall be reduced to the
maximum amount which does not include an Excess Parachute Payment. The terms
"Disqualified Individual" and "Excess Parachute Payment" shall have the same
meanings as under Section 280G of the Internal Revenue Code of 1986, as amended,
or any successor provision thereto.

H.    ADOPTION BY SUBSIDIARIES.

      Upon approval by the Board of Directors of the Bank, this Plan may be
adopted by any subsidiary of the Bank. Upon such adoption, the subsidiary shall
become an Employer hereunder and the provisions of the Plan shall be fully
applicable to the Employees of that subsidiary.

                                       3
<PAGE>

I.    ADMINISTRATION.

      The Plan is administered by the Board of Directors of the Bank, which
shall have the discretion to interpret the terms of the Plan and to make all
determinations regarding eligibility for and payment of benefits. All decisions
of the Board, any action taken by the Board with respect to the Plan and within
the powers granted to the Board under the Plan, and any interpretation by the
Board of any term or condition of the Plan, are conclusive and binding on all
persons, and will be given the maximum possible deference allowed by law. The
Board may delegate and reallocate any authority and responsibility with respect
to the Plan.

J.    SOURCE OF PAYMENTS.

      All amounts payable under the Plan will be paid in cash from the general
funds of the Bank; no separate fund will be established under the Plan; and the
Plan will have no assets.

K.    INALIENABILITY.

      In no event may any Employee sell, transfer, anticipate, assign or
otherwise dispose of any right or interest under the Plan. At no time will any
such right or interest be subject to the claims of creditors, nor liable to
attachment, execution or other legal process.

L.    GOVERNING LAW.

      The provisions of the Plan will be construed, administered and enforced in
accordance with the laws of Kentucky, except to the extent that federal law
applies.

M.    SEVERABILITY.

      If any provision of the Plan is held invalid or unenforceable, its
invalidity or unenforceability will not affect any other provision of the Plan,
and the Plan will be construed and enforced as if such provision had not been
included.

N.    NO EMPLOYMENT RIGHTS.

      Neither the establishment nor the terms of this Plan shall be held or
construed to confer upon any employee any right to continued employment by the
Bank, nor shall they constitute a contract of employment, express or implied.
The Bank reserves the right to dismiss or discipline any employee to the same
extent and on the same basis as though this Plan had not been adopted. Nothing
in this Plan is intended to alter the at-will status of the Bank's employees.
Except to the extent otherwise expressly set forth to the contrary in an
individual employment-related agreement, the employment of any employee may be
terminated at any time by either the Bank or the employee with or without cause.

O.    AMENDMENT AND TERMINATION.

      The Plan may be terminated or amended in any respect by resolution adopted
by a majority of the Board of Directors of the Bank, unless a Change in Control
has previously occurred. If a Change in Control occurs, the Plan no longer shall
be subject to amendment, change, substitution, deletion, revocation or
termination in any respect whatsoever. The form of any proper amendment or
termination of the Plan shall be a written instrument signed by a duly
authorized officer or officers of the Bank, certifying that the amendment or
termination has been approved by the Board of Directors. A proper

                                       4
<PAGE>

amendment of the Plan automatically shall effect a corresponding amendment to
each Participant's rights hereunder. A proper termination of the Plan
automatically shall effect a termination of all employees' rights and benefits
hereunder.

                                       5
<PAGE>

      IN WITNESS WHEREOF, a duly authorized officer of the Bank has executed
this Plan as of the date first above written.

ATTEST:                         FIRST FEDERAL SAVINGS BANK OF FRANKFORT

_______________________         ________________________________________________

                                       6

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