Document:

NORTH CENTRAL BANCSHARES,
INC.

    OMNIBUS AMENDMENT TO THE SEO
AGREEMENTS

    

    This
Omnibus Amendment Agreement, dated as of January __, 2009 (the “Agreement”), is
entered into by and between __________ (the “Executive”) and North Central Bancshares,
Inc. (the “Company”).

     

    WHEREAS, on October 3, 2008,
the United States Congress enacted the Emergency Economic Stabilization Act of
2008 (“EESA”),
and the United States Department of the Treasury (the “Treasury”) is
administering the Troubled Assets Relief Program and the Capital Purchase
Program (the “CPP”) pursuant to
EESA;

     

    WHEREAS, the Company submitted
an application to participate in the CPP on November 13, 2008, and Treasury
notified the Company that it has been preliminarily approved to participate in
the CPP via telephone on December 8, 2008, and in writing on December 11,
2008;

     

    WHEREAS, Section 111 of EESA
and the Treasury guidance and regulations issued thereunder or to be issued
thereunder (the “Treasury Guidance”)
impose, as a condition to participating in the CPP, certain limitations on
executive compensation that the Company and its affiliates may pay or provide to
the Company’s top five senior executive officers, as defined in the regulations
applicable to CPP participants, such as the Company (each a “SEO”);

     

    WHEREAS, in connection with
Company’s participation in the CPP, the Treasury will purchase certain preferred
shares and warrants of the Company (the “Purchased
Securities”) pursuant to a Securities Purchase Agreement, between the
Treasury and the Company (the “Purchase
Agreement”),

     

    WHEREAS, Section 1.2(d)(iv)(A)
of the Purchase Agreement requires the Company to  amend any
compensation, bonus, incentive and other benefit plans, arrangements, and
agreements (including golden parachute, severance and employment agreements)
benefiting SEOs 
(collectively,  with such agreements to which any affiliates of the
Company are a party, the “SEO Agreements”), and
to obtain written consent from any SEO for such amendments, if necessary, during
the period that Treasury owns any Purchased Securities, in order to comply with
Section 111(b) of EESA as implemented by the Treasury Guidance; and

     

    WHEREAS, the Executive is, or
may in the future be, an SEO, as defined in subsection 111(b)(3) of EESA and
regulations issued thereunder; and

     

    WHEREAS, the Company and the
Executive desire to amend the SEO Agreements to the extent necessary to comply
with Section 111(b) of the EESA, the Treasury Guidance, and the Purchase
Agreement.

     

    NOW, THEREFORE, in
consideration of the foregoing and the covenants set forth herein, the Executive
and the Company hereby agree as follows:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
               
      

            	
              1.

            	
              Amendments to the SEO
      Agreements. Effective beginning as of the date hereof (to the
      extent the Executive is an SEO for the 2008 calendar year) and during any
      calendar year commencing after January 1, 2009, if any, during which the
      Executive is an SEO and ending when the Treasury no longer owns any
      Purchased Securities (such period shall be referred to as the “CPP Restricted
      Period”), the Executive’s SEO Agreements are hereby amended as
      follows to comply with Section 111(b) of the EESA, the Treasury Guidance,
      and the Purchase Agreement:

            

    

     

    
      	
               
      

            	
              (a)

            	
              In
      the event that the Compensation Committee of the Board of Directors of the
      Company (the “Committee”)
      reasonably determines that any payment or benefit to which the Executive
      is or may become entitled under the SEO Agreements is a “golden parachute
      payment” for purposes of Section 111(b) of the EESA and the Treasury
      Guidance, including the rules set forth in of 31 C.F.R. § 30.9, Q/A 9, (i)
      neither the Company nor its affiliates shall pay or provide (nor shall the
      Company or its affiliates obligated to pay or provide),  such
      payment or benefit during the CPP Restricted Period, and (ii) the
      Executive shall not be entitled to receive, during the CPP Restricted
      Period, such payment or benefit.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Any
      bonus or incentive compensation paid to the Executive during the CPP
      Restricted Period will be subject to recovery or “clawback” by the Company
      or its affiliates if the payments were based on materially inaccurate
      financial statements or any other materially inaccurate performance metric
      criteria, as reasonably determined by the Committee pursuant to Section
      111(b) of the EESA and the Treasury
Guidance.

            

    

     

    
      	
               
      

            	
              (c)

            	
              In
      the event that the Committee reasonably determines that any incentive
      compensation arrangement pursuant to which the Executive is or may be
      entitled to a payment encourages the Executive to take unnecessary and
      excessive risks that threaten the value of the financial institution
      within the meaning of 31 C.F.R. §30.9 Q/A 4, the Committee shall amend
      such incentive compensation arrangements to prevent any such
      risk-taking.

            

    

     

    
      	
              2.

            	
              Miscellaneous.

            

    

     

    
      	
               
      

            	
              (a)

            	
              The
      Executive’s execution of this Agreement shall not be determinative of the
      Executive’s status as a SEO.

            

    

     

    
      	
               
      

            	
              (b)

            	
              This
      Agreement shall be void ab initio if the Closing of the transactions
      contemplated by the Purchase Agreement does not
  occur.

            

    

     

    
      	
               
      

            	
              (c)

            	
              This
      Agreement may be executed in one or more counterparts, each of which when
      executed shall be an original, but all of which when taken together shall
      constitute one and the same
agreement.

            

    

     

    
      	
               
      

            	
              (d)

            	
              This
      Agreement shall be governed by, and interpreted in accordance with, the
      laws of the State of Iowa.

            

    

     

    [Signature
Page to Follow]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    IN WITNESS WHEREOF, the
Company has caused this Agreement to be signed by its duly authorized
representative and the Executive has hereunto set his hand as of the day and
year first above written.

     

    
      
        
          
            
              
                
                  
                    	
                            COMPANY

                          
	 
      	 
      
	
                            By:

                          	 
      
	
                            Its:

                          	 
      
	 
      	 
      
	
                            EXECUTIVE

                          
	 
      
	
                            By:

                          	 
      
	
                            [Name
      of Senior Executive
Officer]Exhibit
4.1

    

    

    WAIVER
AND CONSENT

    

    

    THIS WAIVER AND CONSENT is entered into
this 31st day of December, 2008, by and  among Enable Capital
Management, on  its own behalf and on behalf of its affiliates, Enable
Growth Partners LP, Enable Opportunity Partners LP and Pierce Diversified
Strategy Master Fund LLC (collectively, “Enable”), and Star Energy Corporation
("Star")

    

    WHEREAS, Enable has entered
into a Securities Purchase Agreement dated as of February 9, 2007 (the “Original
Purchase
Agreement”), by and among Star and certain purchasers referenced therein
(each, a “Purchaser”,
collectively, the “Purchasers”), such
Purchasers being Enable and Wolverine Asset Management LLC, on its own behalf
and on behalf of its affiliates, Wolverine Convertible Arbitrage Fund Trading
Ltd. and GPC LX LLC (collectively, “Wolverine”) (each of
Star, Wolverine and Enable may hereafter be referred to as a “Party”, collectively,
the “Parties”);

    

    WHEREAS,
pursuant to the Original Purchase Agreement, the Parties have entered into
certain related documents, instruments, agreements and notes dated as of
February 9, 2007, among them a Registration Rights Agreement, a Security
Agreement, a Subsidiary Guarantee, and an 8% Secured Convertible Debenture (the
“Debenture”)
issued by Star to each of Wolverine and Enable (collectively, the "Convertible Debt
Documents");

    

    WHEREAS, Enable has entered
into a Securities Purchase Agreement dated as of  November 20, 2008
(the “Subsequent Purchase Agreement”)
to purchase the entire Wolverine’s  portion of the Debenture issued by
Star under the Original Purchase Agreement.

    

    WHEREAS,
pursuant to Section 2(a) of the Debenture, January 1, 2009 constitutes an
Interest Payment Date, whereupon quarterly interest is payable on indebtedness
due under the Debenture;

    

    WHEREAS,
Star has requested that Enable agree to the deferral of interest that
would otherwise be due on January 1, 2009, until January 1, 2010;

    

    WHEREAS,
Enable is willing to agree to a deferral of the aforementioned interest payment
on the terms and conditions set forth herein;

    

    NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged,

    

    1.           Enable
consents to the following:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    

    (a)           the
deferral of the interest payment due on January 1, 2009, until January 1,
2010;  and

    

    (b)           the
waiver by Enable of any Late Fees that would otherwise be due under Section 2(d)
of the Debenture as a result of the non-payment of interest on January 1,
2009.

    

    2.           In
consideration of the waiver and consent of Enable referenced in Section 1 above,
on January 1, 2010, Star will pay Enable a premium of Twelve Thousand Dollars
($12,000).

    

    3.           Except
as to matters set forth herein, the terms and conditions of all of the
Convertible Debt Documents remain in full force and effect.

    

    4.           This
Waiver and Consent is governed by the laws of the State of New York,
notwithstanding its conflict of laws rules or any other principles that would
trigger the application of any other law.

    

    IN WITNESS WHEREOF, each of Enable and
Star has caused this Waiver and Consent to be duly executed on the day and year
first written above.

     

    
      
        
          	 	ENABLE
      CAPITAL MANAGEMENT	 
	 	 	 	 
	
                   

                	
                  By:
      

                	/s/
      Brendan O’Neil	 
	 	 	      
                  Name:
      Brendan O’Neil

                  Title:
      President and CIO

                	 

        

      

    

     

     

    
      
        
          
            	 	STAR
      ENERGY CORPORATION	 
	 	 	 	 
	
                     

                  	
                    By:
      

                  	/s/
      Michael Kravchenko	 
	 	 	      
                    Name:
      Michael Kravchenko

                    Title:
      Chief Financial Officer

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