Document:

Investment Advisor Agreement between and Smith Asset Management Group

 Exhibit 10.2 
  
 INVESTMENT ADVISOR AGREEMENT 
  

This INVESTMENT ADVISOR AGREEMENT (the “Agreement”) is effective as of December 1, 2004 by and between STATE STREET BANK AND TRUST COMPANY, a
trust company organized under the laws of the Commonwealth of Massachusetts (“State Street”), and Smith Asset Management Group, LP (the “Advisor”). 
  
 WHEREAS the American Bar Association Members Retirement Trust and the American Bar Association Members Pooled Trust for
Retirement Plans (collectively referred to as the “Trusts”), for which State Street acts as trustee, are maintained pursuant to agreements between the American Bar Retirement Association (“ABRA”) and State Street for the purpose
of funding the American Bar Association Members Retirement Plan, the American Bar Association Members Defined Benefit Pension Plan (together, the “ABA Members Plans”) and other employee benefit plans, as adopted by eligible individuals,
organizations, partnerships, corporations or associations (each such employee benefit plan being referred to as a “Plan” and collectively as the “Plans”), which Plans must meet the requirements for qualification under Section 401
of the Internal Revenue Code of 1986, as amended and in effect from time to time (the “Code”); 
  
 WHEREAS, certain assets of the Trusts are deposited in a collective investment fund, known as the SMALL-CAP EQUITY FUND (the “Fund”),
established under the American Bar Association Members/State Street Collective Trust (the “ABA Members Collective Trust”) established by State Street, as trustee (the “Trustee”), pursuant to the Declaration of Trust dated
December 5, 1991, as amended and in effect from time to time (the “Declaration of Trust”); 
  
 WHEREAS, the Fund is established under a group trust maintained by the Trustee and is exempt from tax pursuant to Revenue Ruling 81-100; 
  
 WHEREAS, the Trustee desires to retain the Advisor to act as its investment
advisor to assist the Trustee in managing such assets of the Fund as the Trustee may designate from time to time in writing to the Advisor (the “Subaccount”) by making recommendations to the Trustee with respect to the investment and
reinvestment of the assets in the Subaccount; and 
  
 WHEREAS the
parties desire to set forth, among other things, the duties, terms and conditions under which the Advisor will carry out such advisory functions and the Trustee will perform certain of its functions with respect to managing and administering the
Subaccount and the Fund; 
  
 NOW, THEREFORE, in consideration of
the promises and mutual covenants contained in this Agreement, it is agreed as follows: 
  
 1. Appointment of the Advisor. The Advisor is hereby appointed and employed as investment advisor to the Trustee to assist the Trustee in its management of such assets of the Fund as are held in the Subaccount
from time to time. The Advisor 

 shall provide investment advice and recommendations and shall render certain other related services to or on behalf of
the Trustee, all in accordance with the terms and conditions of this Agreement. 
  
 2. Acceptance by the Advisor. The Advisor hereby accepts such appointment and employment and acknowledges that, (a) with respect to the assets in the Subaccount, it is a fiduciary, as defined in the Employee
Retirement Income Security Act of 1974, as amended and in effect from time to time (“ERISA”), with respect to the Trusts and the Plans and (b) no person associated with the Advisor is a trustee or administrator of, or an employer of anyone
covered by, any Plan. The Advisor represents that it is registered, or exempt from registration, under the Investment Advisers Act of 1940, as amended (the “Advisers Act”), and that it is in the business of acting as a fiduciary with
respect to assets of various retirement plans and trusts. The Advisor agrees and covenants that it will notify the Trustee within ten (10) business days of (v) any change of its status under the Advisers Act, (w) the receipt of formal notice of the
commencement of any proceeding by any governmental agency to take any action which would change its status under the Advisers Act, (x) notice by any governmental agency of the intent to place material limitations on the activities of the Advisor,
(y) notice by any governmental agency that it intends to begin an investigation of the Advisor that is outside of the scope of routine investigations that such agency conducts from time to time of businesses engaged in the same or similar activities
as the Advisor, or (z) notice by any governmental agency that it has identified an area of non-compliance or other concern in the course of any investigation of the Advisor. Throughout this Agreement, the term “business day” shall mean any
day in which the New York Stock Exchange is open for trading and on which the Trustee’s principal office is open for business. 
  
 3. Definition of Subaccount. The Subaccount for which the Advisor has been appointed to render investment advice and certain other services is
designated as Subaccount A and consists of the assets set forth in Appendix A. The Trustee may change the composition of or the amount of assets included within the Subaccount, by amending Appendix A, after written notice to the Advisor and ABRA.

  
 4. The Advisor’s Services. 
  
 (a) Investment Process. The Advisor shall make timely
recommendations to the Trustee as to how the Trustee should invest and reinvest the assets of the Subaccount and, in that connection, may recommend that the Trustee purchase, sell or otherwise invest the assets of the Subaccount on the terms and
conditions recommended by the Advisor in a manner consistent with the provisions of this Agreement. The manner and procedures for effecting any such purchases, sales or investments are set forth in Subsection 4(c) below. From time to time at the
request of the Trustee, the Advisor shall consult with the Trustee on a timely basis with respect to any recommendation made by the Advisor or otherwise with respect to the investment of the assets of the Subaccount. 
  

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 (b) Compliance With Policies and Other Requirements. In providing its investment advice and other
related services, the Advisor shall act in accordance with the investment objectives and policies for the Fund as set forth in the Fund Declaration pursuant to which the Fund is established and maintained, as the same may be amended from time to
time by the Trustee (the “Fund Declaration”), a copy of which is attached hereto as Appendix B, and in accordance with any additional investment objectives and policies that have been established by the Trustee for the Subaccount as set
forth in Appendix C, as the same may be amended from time to time by the Trustee, or that have been set forth in the Registration Statement on Form S-1 filed with the Securities and Exchange Commission relating to the Fund, as the same may be
amended from time to time. In providing its investment advice and other related services under this Agreement, the Advisor shall comply with all of the Trustee’s reasonable operating requirements as the same may be communicated in writing by
the Trustee to the Advisor from time to time. The Advisor shall comply with any changes to such operating requirements that the Trustee may make from time to time within a period of time reasonably specified by the Trustee (or if none is specified,
within a reasonable time period) after notice of such changes is communicated in writing by the Trustee to the Advisor. 
  
 (c) Recommendation Procedures. The Advisor shall place orders or otherwise give instructions with respect to the investment of the assets in the
Subaccount only after prior notification to and approval by the Trustee in accordance with the provisions of this Subsection 4(c). Except in accordance with the following provisions, the Advisor shall have no authority to place orders for the
execution of transactions involving assets of the Subaccount or to give instructions to the Trustee with respect thereto: 
  
 (i) Broker List. On or prior to the first business day of each month, the Trustee shall consider brokers recommended by the
Advisor and shall approve, to the extent deemed appropriate by the Trustee, a list of not more than one hundred (100) brokers through whom transactions with respect to the assets in the Subaccount may be effected during the following month (the
“Broker List”). From time to time by means of Valid Notice (as defined below), the Advisor may request an amendment (the “Advisor’s Amendment”) to the Broker List. The Trustee shall exercise reasonable efforts to notify the
Advisor whether or not the Trustee authorizes the Advisor’s Amendment to the Broker List by means of Valid Notice within one (1) complete business day (i.e., not later than the same time of day on the next business day) following its
receipt of the Advisor’s Amendment and if the Trustee does not so notify the Advisor, then the Advisor’s Amendment shall be deemed to be approved at the conclusion of such one business day period. The Trustee may effect an amendment to the
Broker List at any time upon Valid Notice to the Advisor. 
  
 (ii) Real-Time Recommendations. From time to time by means of Valid Notice (as defined below), the Advisor may make recommendations as to proposed transactions with respect to the assets of the Subaccount (the
“Advisor’s Recommendation”). The Advisor’s Recommendation 
  

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 shall (A) be directed to the employee or employees of the Trustee designated for such purpose by the
Trustee from time to time by Valid Notice and (B) describe the transaction being recommended by the Advisor in such detail and specificity as the Trustee may reasonably require. For this purpose, if the transaction is to be effected at the market
price on the applicable exchange or trading system, a statement to such effect shall be sufficient to describe the proposed sale or purchase price. The Trustee shall exercise reasonable efforts to notify the Advisor by means of Valid Notice whether
or not the Trustee authorizes the transaction recommended in the Advisor’s Recommendation (the “Trustee’s Response”). The Trustee shall exercise reasonable efforts to deliver the Trustee’s Response within one (1) hour
following its receipt of the Advisor’s Recommendation and if the Trustee does not deliver the Trustee’s Response to the Advisor within such one-hour period, then the transaction or transactions recommended in the Advisor’s
Recommendation shall be deemed to be approved; provided, however, that if the Advisor’s Recommendation is received by the Trustee after 5:00 p.m. Eastern time on any business day, then the one-hour period described in this
Subsection 4(c)(ii) shall be extended so that it expires at 9:00 a.m. Eastern time on the next succeeding business day. 
  
 (iii) Authorized Transactions. A transaction shall become an “Authorized Transaction” when it is (A) approved pursuant
to the Trustee’s Response or (B) deemed approved pursuant to Section 4(c)(ii). The designation of a transaction as an Authorized Transaction hereunder shall be binding against the Trustee and the Authorized Transaction shall remain validly
approved and authorized until the earlier of (AA) the time that it is expressly countermanded by Valid Notice from the Trustee to the Advisor or (BB) at the end of the twentieth (20th) business day following its designation as an Authorized
Transaction. Notwithstanding the foregoing, unless the Trustee has otherwise notified the Advisor by Valid Notice, a transaction shall also be an “Authorized Transaction” if it is a transaction to be effected at the market price on the
applicable exchange or trading system with respect to an additional acquisition or a disposition of a particular security held in the Subaccount, provided that, individually and in the aggregate, acquisitions and dispositions related to the same
security during the same business day will not increase or decrease by more than twenty-five percent (25%) (Y) the number and value of shares of such security (if such security is an equity security) or (Z) the principal amount of such security (if
such security is a debt security), immediately upon giving effect to all such transactions offered during such business day, provided further that at all times the Subaccount shall comply fully with (i) the provisions of the Fund Declaration, as the
same may be amended from time to time by the Trustee, (ii) any additional objectives and policies set forth in Exhibit C, as the same may be amended from time to time, and (iii) any objectives and policies set forth in the Registration Statement on
Form S-1 filed with the Securities and Exchange Commission relating the Fund, as the same may be amended from time to time. 
  

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 (iv) Investment Authority. With respect to any Authorized Transaction, the
Advisor may take any and all action necessary or desirable to effect such Authorized Transaction, including but not limited to (A) placing an order with a broker named in the Broker List for the execution of the Authorized Transaction and (B)
issuing to the Trustee such instructions as may be appropriate in connection with the settlement of such Authorized Transaction. 
  
 (v) Valid Notice. “Valid Notice” shall mean (A) written notice or communication, which may be made by facsimile or by
electronic transmission in a format and method reasonably acceptable to the Trustee, or (B) oral notice or communication that is recorded by the Trustee or the Advisor and is available for subsequent verification. 
  
 (d) Custody of Assets and Confirmation of Transactions. To the extent
required by applicable law, the Advisor shall direct that all securities purchased and the proceeds from the sale of securities for the Subaccount be delivered to the Trustee, unless otherwise directed by the Trustee. The Advisor shall direct any
broker effecting a transaction with respect to the assets of the Subaccount to send the Trustee a duplicate copy of any confirmation of any such transaction, except that the Advisor may make other arrangements (which are reasonably satisfactory to
the Trustee) for the Trustee to receive such duplicate confirmations or comparable information acceptable to the Trustee. 
  
 (e) Communications Regarding Investment Securities. The Trustee shall send, or cause to be sent, on a timely basis, copies of all communications
(including but not limited to proxy statements, tender offers and class action communications) from or relating to companies, the securities or other instruments of which are held in the Subaccount, to the Advisor. The Advisor shall be responsible
for making a recommendation to the Trustee, in such detail and specificity as the Trustee may reasonably require, as to the appropriate response to such communications (the “Suggested Response”). Such Suggested Response shall be made by
the Advisor by Valid Notice, at least one (1) complete business day (i.e., not later than the same time of day or the next business day) prior to the deadline for such response. Such Suggested Response shall be directed to the employee or employees
of the Trustee designated for such purpose by the Trustee from time to time by Valid Notice. If the Trustee decides not to follow the Suggested Response, it shall so notify the Advisor by Valid Notice (the “Trustee’s Rejection”) not
later than the earlier of one (1) complete business day (i.e., not later than the same time of day or the next business day) following its receipt of the Suggested Response or two (2) hours before the response deadline. Failure by the Trustee to
give the Trustee’s Rejection to the Advisor within such period shall constitute the Trustee’s approval of the Suggested Response, and shall constitute authorization to the Advisor to (i) take such action as is appropriate to effect the
Suggested Response and (ii) issue to the Trustee such instructions as may be appropriate in connection with effecting the Suggested Response. 
  

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 (f) Advisor’s Duty of Care. The Advisor shall discharge its duties with respect to the
Subaccount solely in the interests of the participants in the Plans and their beneficiaries with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such
matters would use in the conduct of an enterprise of like character and with like aims. The Advisor shall not be responsible for the operation or administration of the Trusts or the Plans. The Advisor shall have no investment advisory
responsibilities other than those expressly provided in this Agreement. The Advisor shall discharge its duties in accordance with the requirements of ERISA, other applicable law and this Agreement. 
  
 (g) Fidelity Bond and Insurance. The Advisor shall maintain for the
period during which the Agreement is in effect a fidelity bond meeting the requirements of Section 412 of ERISA (unless the Trustee acknowledges that the Advisor is exempt from such requirements) and including its officers, directors and employees
(or comparable individuals) to the extent so required. The Advisor will provide to ABRA and the Trustee within twenty (20) business days of the effective date of this Agreement copies of all insurance policies (including fiduciary, errors and
omissions, and fidelity bonds) that could cover or relate to the Subaccount, the Fund, the Trusts or the Plans, and, upon request by the Trustee or ABRA, a certificate of coverage with respect to any such policies. The Advisor will notify ABRA and
the Trustee of any material changes in such policies, which change affects the coverage of the Advisor, within twenty (20) business days after the earlier of when such changes are made or are effective. 
  
 (h) Brokerage Practices. In placing orders for the purchase and sale
of assets of the Subaccount in accordance with Subsection 4(c), the Advisor shall act in accordance with the procedures with regard to brokerage practices for the Subaccount, as described in Appendix D. The Advisor shall make its recommendations of
brokers or dealers in accordance with its best judgment and in a manner consistent with ERISA and other applicable law. The Advisor shall recommend those brokers or dealers for inclusion on the Broker List using its best judgment to choose the
broker or dealer most capable of providing the brokerage services necessary to obtain the “best available price and most favorable execution.” The Trustee recognizes that the Advisor may, in accordance with Section 28(e) of the Securities
Exchange Act of 1934, as amended, recommend a broker or dealer who will charge a commission for effecting a securities transaction that will exceed the amount of commission another broker or dealer would have charged for effecting such transaction,
where the Advisor has determined in good faith that the amount of such commission was reasonable in relation to the value of the brokerage and research services provided by such broker or dealer to, or for the benefit of, the Subaccount, viewed in
terms of either that particular transaction or such broker or dealer’s overall responsibilities with respect to the Subaccount. 
  
 (i) Nondisclosure of Information. To the extent necessary for the execution of this Agreement or to satisfy the requirements for disclosure to
participants or to meet the requirements of Sections 8 and 9, the Advisor shall keep in strict confidence all information about the financial affairs of the Subaccount. The Advisor may include information about the Subaccount in aggregate
information provided by the Advisor as long as the information is not set out separately or in any other manner that would enable a third party to determine the financial affairs of the Subaccount. 
  

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 (j) Advisor’s Potential Conflicts of Interest. The Advisor (and any affiliate thereof) may
engage in any other business or act as advisor to or investment manager for any other person, even though it (or any affiliate thereof) or such other person has, or may have, investment policies similar to those followed by the Advisor with regard
to the Subaccount. Nothing in this Agreement shall prevent the Advisor (or any affiliate thereof) from buying or selling, or from recommending or directing such other person to buy or sell, at any time, securities of the same kind or class
recommended by the Advisor to be purchased or sold for the Subaccount. The Advisor shall be free from any obligation to the Subaccount to recommend any particular investment opportunity which comes to it. However, if the Advisor effects the purchase
or sale of the same securities for the Subaccount and other accounts at the same time that orders are open for the Subaccount and the other accounts, the pricing of or proceeds from such securities shall be allocated among the other accounts and the
Subaccount in a just and equitable manner. 
  
 (k)
Valuation. At the request of the Trustee from time to time, the Advisor shall provide pricing and valuation information with respect to particular securities it has recommended for the Subaccount if the Trustee has determined that such
pricing and valuation information is not otherwise reasonably available to the Trustee through standard pricing services. 
  
 5. Representations by the Trustee. The Trustee represents and warrants that (a) there are no restrictions or limitations on the Subaccount’s
investments imposed by applicable law other than (i) those set forth in the Declaration of Trust, the Fund Declaration, this Agreement, and Appendix C, as any of the same may be amended from time to time and communicated to the Advisor, (ii) those
provided in ERISA and (iii) any other investment restriction or limitation imposed by law or regulation which in the Trustee’s judgment is applicable to the Subaccount and which is communicated by the Trustee to the Advisor; and (b) disclosure
to Plan participants contained in the Registration Statement describing the Subaccount is accurate and prepared in accordance with the requirements of Form S-1 under the Securities Act of 1933, as amended, except that the Trustee makes no
representation or warranty with respect to any disclosure relating to the Advisor or its services with respect to the Subaccount which the Advisor has prepared, approved in writing or has not disapproved within five (5) business days following
confirmed transmission by facsimile, acceptable electronic transmission or overnight mail to a person designated by the Advisor to review such disclosure. 
  
 6. Liability of the Advisor; Indemnification. 
  
 (a) Limitation of Liability of the Advisor. The Advisor shall not be liable for any act or omission of any other person or entity exercising a
fiduciary responsibility, if such fiduciary responsibility has been allocated to such other person or entity in accordance with this Agreement, the Declaration of Trust, the Fund Declaration, the Plans or the Trusts, except to the extent that the
Advisor has itself violated its fiduciary responsibility or its obligations under this Agreement, or except to the extent that applicable law (including ERISA) may expressly provide otherwise. 
  

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 (b) Indemnification. 
  
 (i) Indemnification of Advisor. To the extent permitted by applicable law, the Trustee agrees to
indemnify and hold harmless the Advisor for losses, damages or expenses resulting from (A) actions taken by the Advisor in reliance on information provided by the Trustee to the Advisor in accordance with this Agreement, including but not limited to
the Trustee’s operating requirements and cash availability information, (B) actions omitted to be taken by the Advisor pursuant to instructions or directions provided by the Trustee and/or (C) valuation of the assets held in the Subaccount,
computation of unit values for the Subaccount by the Trustee, or performance data and other financial information provided by the Trustee to Subaccount participants except to the extent that the Advisor has incorrectly reported or failed to report
securities transactions in the Subaccount to the Trustee as provided in this Agreement and to the extent that any error in such valuation or computation is due to prices or other information provided by the Advisor. 
  
 (ii) Indemnification of the Trustee. To the extent
permitted by applicable law, the Advisor agrees to indemnify and hold harmless the Trustee for any losses, damages or expenses resulting from (A) any recommendation of the Advisor or based on information provided by the Advisor, (B) the
Advisor’s failure to provide correct and timely information or to make recommendations on a timely basis as provided in the Agreement, and (C) any disclosure relating to the Advisor or the services provided by the Advisor with respect to the
Subaccount which the Advisor has prepared, approved in writing or has not disapproved within five (5) business days following transmission by facsimile, acceptable electronic transmission or overnight mail to a person designated by the Advisor to
review such disclosure; provided, however, that the Advisor shall not be required to indemnify and hold harmless the Trustee to the extent that such losses, damages or expenses result from an act or omission of the Advisor with respect
to which the Advisor not only has used such care, skill, prudence and diligence as a reasonably prudent person acting in like capacity and familiar with such matters would use in the conduct of an enterprise of like character and with like aims, but
also has otherwise acted in accordance with this Agreement. 
  
 (iii) Advisor and Trustee Indemnification Procedures. If the party seeking indemnification is either the Advisor or the Trustee, such party shall promptly notify the indemnifying party of any claim, action,
suit or proceeding, or threat thereof, which may result in a claim for indemnification. Upon such notification, the indemnifying party may, at its option, undertake the conduct and cost of defending any such claim, action, suit or proceeding and in
such case shall have full control of such defense, including but not limited to selection of counsel (provided that such counsel must be reasonably acceptable to 
  

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 the party being indemnified) and entry into settlement agreements (provided that any such settlement
agreement shall require the consent of the party being indemnified, which consent shall not be unreasonably delayed or withheld). The Trustee or the Advisor, as the indemnifying party, shall not be liable for any legal or other expenses incurred in
connection with any such defense that were not specifically authorized by it; provided, however, if such indemnifying party fails to undertake and prosecute vigorously the defense of any such claim, action, suit or proceeding, it shall
be liable for reasonable legal and other expenses incurred by the party being indemnified. 
  
 (c) Indemnification of ABRA. 
  
 (i) To the extent permitted by applicable law, the Advisor agrees to defend, indemnify and hold harmless ABRA, its then present and former officers, directors and advisory directors, the ABA, and its then present and
former officers and Board of Governors (the “Indemnified Persons”) against any and all expenses (including attorney’s fees, judgments, fines and penalties, including any civil penalties assessed under Section 502(l) of ERISA) and
amounts paid in settlement actually or reasonably incurred in connection with any threatened, pending or current action, suit, proceeding or claim, whether civil, criminal, administrative or otherwise, and the amount of any adverse judgment entered
against any of them and any reasonable expenses attendant thereto by reason of any of the Advisor’s acts or omissions in connection with this Agreement. For the above defense, indemnity and hold harmless provision to apply (i) the Indemnified
Persons (or ABRA) shall inform the Advisor promptly of any claims threatened or made against any Indemnified Person, (ii) the Indemnified Persons shall cooperate fully with the Advisor in responding to such threatened or actual claims and (iii) any
settlement agreement entered into by the Indemnified Persons shall require the written approval of the Advisor, which approval shall not be unreasonably withheld or delayed, and any settlement agreement entered into by the Advisor shall require
written approval, within the time frame established by the Advisor, of the Indemnified Persons, which approval shall not be unreasonably withheld. 
  
 (ii) Right to Counsel. The Indemnified Persons shall have the right to employ counsel in their, its, his or her sole discretion.
Such Indemnified Persons shall be responsible for the expenses of such separate counsel except as provided in Subsection 6(c)(iii). The Advisor agrees to cooperate fully with the Indemnified Persons and their separate counsel in responding to such
threatened or actual claims. 
  
 (iii)
Separate Counsel. The Advisor agrees to cooperate fully with the Indemnified Persons in responding to such threatened or actual claims. The Indemnified Persons shall have the right to reasonable expenses of separate counsel paid by the
Advisor, provided that the Advisor shall not be liable for any legal or other expenses incurred in connection with any such threatened claim or defense that were not specially authorized by the Advisor in writing and 

 provided that the Advisor shall have received a written opinion reasonably acceptable in form and
substance to the Advisor of counsel reasonably acceptable to the Advisor (and which counsel shall not represent or otherwise be affiliated with any of the Indemnified Persons) that there exists a material conflict of interest between one or more of
the Indemnified Persons and the Advisor in the conduct of the response to a threatened claim or in the conduct of the defense of an actual claim, in which event the Advisor shall be liable for the reasonable legal expenses of each counsel whose
appointment is necessary to resolve such conflict; provided, however, the Advisor shall not be responsible for more than one (1) counsel for all Indemnified Persons and selection of such counsel shall be reasonably acceptable to the
Advisor. 
  
 (iv) Payment of Expenses.
Expenses (including counsel fees) specifically authorized by the Advisor and actually and reasonably incurred by the Indemnified Persons in defending against or responding to such threatened or actual claims as provided in (i) and (iii) of this
Subsection shall be paid as they are incurred. If an Indemnified Person is reasonably required to bring any action to enforce rights or collect monies due under Subsection 6(c) and is successful in such action, the Advisor shall reimburse such
Indemnified Person or its subrogee for reasonable fees and expenses incurred in bringing and pursuing such action. 
  
 (v) Supplemental Rights. Indemnification pursuant to Subsection 6(c) is intended to be supplemental to any other rights to
indemnification available to the Indemnified Persons. Nothing herein shall be deemed to diminish or otherwise restrict the Indemnified Persons’ rights to indemnification under law. 
  
 (vi) Third Party Beneficiaries. The indemnifying party acknowledges that the Indemnified Persons are
intended to be third-party beneficiaries of Subsection 6(c). 
  
 7. Transactions Prohibited with Respect to the Advisor. The Advisor, its officers, partners, directors and affiliates, and each of them, shall not, with respect to the Subaccount, (a) as a principal, purchase assets from or sell
assets to the Fund, (b) receive any compensation or fees with respect to the Fund, other than the fees provided for in Appendix E, (c) engage in or recommend any transaction involving or affecting the Fund that such person knows or should know is a
prohibited transaction under ERISA unless such transaction is exempt under the applicable provisions of ERISA or (d) direct delivery of securities or payment to itself or direct any disposition of securities or cash from the Subaccount except to the
Trusts. 
  
 8. Reports and Meetings. 
  
 (a) Monthly Reports. At least monthly the Advisor shall render to
the Trustee and ABRA, or their designee, reports concerning its services under this Agreement and the status of the Subaccount, based on the reporting procedures set forth in Appendix F, which is hereby adopted and made a part of this Agreement,
including statements of investments in the Subaccount. 
  

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 (b) Meetings. The Advisor will meet with the Trustee and ABRA and with such other persons as the
Trustee or ABRA may designate on reasonable notice and at reasonable times and locations, to discuss general economic conditions, Subaccount performance, investment strategy and other matters relating to the Subaccount. 
  
 (c) Reports Prior to Termination. On each day during the period
beginning ten (10) business days prior to the effective date of the Advisor’s resignation or its removal under this Agreement by the Trustee (the “Termination Date”), or on each day of such shorter period after which the Advisor has
received notice of its removal, the Advisor shall render to the Trustee and ABRA, or their designee, a report of the current status of the Subaccount based on the procedures set forth in Appendix F, including a statement of investments in the
Subaccount and on the day immediately following the Termination Date, such report shall be rendered in final form with respect to the status of the Subaccount, including a statement of investments therein, as of the close of business on the
Termination Date. 
  
 (d) Additional Reports. The Advisor
shall furnish to the Trustee and ABRA such additional reports and information as may be reasonably requested by the Trustee or ABRA. 
  
 9. Accounting. The Advisor shall keep accurate and detailed records concerning its services under this Agreement, including records of all
transactions effected and recommendations made during its performance of this Agreement, and all such records shall be open to inspection at all reasonable times by the Trustee and ABRA, or their designee, and by duly authorized representatives of
the Secretary of Labor and the Secretary of the Treasury acting pursuant to their authority under ERISA and the Code, respectively, and other appropriate regulatory authorities. 
  
 10. Advisor’s Compensation. The amount and manner of payment of fees payable by the Trustee to the Advisor for
the Advisor’s services under this Agreement are set forth in Appendix E. The Advisor agrees that if it enters into a fee schedule with any new non-eleemosynary client whose portfolio is advised or managed under the same investment policies and
objectives as the Subaccount, and is similarly or smaller sized, for services which are similar to the services provided under this Agreement and such fee schedule contains fees that are lower than the fees set forth in Appendix E, it will offer the
same fee schedule to the Trustee, which shall have the right to require the amendment to Appendix E to reflect that lower fee schedule. 
  
 11. Removal and Resignation. 
  
 (a) Removal of the Advisor. Upon written notice to the Advisor, the Advisor may be removed by the Trustee. Any transaction for the Subaccount
authorized by the Trustee prior to the receipt by the Advisor of the notice shall be consummated, and the Advisor shall not recommend any transaction for the Subaccount subsequent to the receipt of the notice. 
  

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 (b) Resignation of the Advisor. The Advisor may resign under this Agreement upon sixty (60)
days’ prior written notice to the Trustee. The Advisor shall concurrently advise ABRA in writing of such resignation and the effective date thereof. 
  
 (c) Termination of Obligations. The respective obligations of the Advisor and the Trustee under Section 6 of the Agreement shall survive any such
removal or resignation or other termination of this Agreement. 
  
 12. Termination, Amendment or Modification. The provisions of this Agreement may not be terminated, changed, modified, altered or amended in any respect except in a writing signed by the parties. 
  
 13. Definitions. As used herein the following terms shall have the
meanings ascribed to them in the following sections of this Agreement: 
  

			
	 Term Defined

	 	 Section

	 ABA Members Collective Trust
	 	 Introduction

	 ABA Members Plans
	 	 Introduction

	 ABRA
	 	 Introduction

	 Advisers Act
	 	 2

	 Advisor
	 	 Introduction

	 Advisor’s Amendment
	 	 4(c)(i)

	 Advisor’s Recommendation
	 	 4(c)(ii)

	 Agreement
	 	 Introduction

	 Authorized Transaction
	 	 4(c)(iii)

	 Broker List
	 	 4(c)(i)

	 business day
	 	 2

	 Code
	 	 Introduction

	 Declaration of Trust
	 	 Introduction

	 ERISA
	 	 2

	 Fund
	 	 Introduction

	 Fund Declaration
	 	 4(b)

	 Indemnified Persons
	 	 6(c)(i)

	 Plans
	 	 Introduction

	 State Street
	 	 Introduction

	 Subaccount
	 	 Introduction

	 Suggested Response
	 	 4(e)

	 Termination Date
	 	 8(c)

	 Trustee
	 	 Introduction

	 Trustee’s Response
	 	 4(c)(ii)

	 Trustee’s Rejection
	 	 4(e)

	 Trusts
	 	 Introduction

	 Valid Notice
	 	 4(c)(v)

  

 12 

 14. Governing Law. This Agreement shall be construed and enforced according to the laws of The
Commonwealth of Massachusetts and, to the extent of any federal preemption, the laws of the United States of America. 
  
 15. Binding upon Successors. This Agreement shall be binding upon and enforceable by the successors to the parties hereto. 
  
 16. Assignment. The Advisor may not assign this Agreement (including
for this purpose any assignment within the meaning of the Advisers Act), or any rights or responsibilities hereby created, without the prior written consent of the Trustee, which consent may be withheld by the Trustee in its sole discretion;
however, the parties may amend this Agreement from time to time in accordance with Section 12. 
  
 17. Notices. Written notices shall be deemed effective with respect to a party upon delivery to such party at the address set forth below or to such other address as may be provided in writing from time to time
by such party: 
  

			
	 To the Advisor:
	  	 Smith Asset Management Group, LP

	 	  	 200 Crescent Court, Suite 850

	 	  	 Dallas, Texas 75201

	 	  	 Attention: Stephen S. Smith

	 	  	 Telecopier: (214) 880-4641

		
	 To the Trustee:
	  	 State Street Bank and Trust Company

	 	  	 Batterymarch Park III

	 	  	 Three Pine Hill Drive

	 	  	 Quincy, Massachusetts 02169

	 	  	 Attention: ABRA Division Head

		
	 If by mail to:
	  	 State Street Bank and Trust Company

	 	  	 Post Office Box 1389

	 	  	 Boston, Massachusetts 02104

	 	  	 Attention: ABRA Division Head

  
 18. Oral
Communications. Oral communications between the parties to this Agreement shall be effective hereunder only to the extent specifically authorized herein. By its execution of this Agreement, each of the parties hereto acknowledges that the other
party may record any such oral communications and consents to any such recording. All oral communications shall be confirmed in writing, except that if an oral communication is recorded such recording shall be controlling and no written confirmation
shall be required. 
  

 13 

 19. Authority. The parties to this Agreement represent, respectively, that they have duly
authorized the execution, delivery and performance of this Agreement and that neither such execution and delivery nor the performance of their obligations hereunder conflict with or violate any provision of law, rule or regulation, or any instrument
to which either is a party or to which any of their respective properties are subject and that this Agreement is a valid and binding obligation. 
  
 20. Authorized Representatives of the Advisor. The Advisor from time to time shall by written notice certify to the Trustee the name of the person
or persons authorized to act on behalf of the Advisor. Any person so certified shall be deemed to be the authorized representative of the Advisor. The Advisor shall give written notice to the Trustee when any person so certified ceases to have the
authority to act on behalf of the Advisor, but such revocation of authority shall not be valid until the notice is received by the Trustee. The Advisor will notify the Trustee in writing of any significant changes in the officers of the Advisor and
any changes in the personnel of the Advisor responsible for providing investment advice with respect to the assets of the Subaccount within twenty (20) business days after such change. 
  
 IN WITNESS WHEREOF, the parties have executed this Agreement effective October 26, 2004. 
  

							
	 	 	 	 	 STATE STREET BANK AND TRUST COMPANY

				
	 Attest: 
	 	 (illegible)

	 	 By
	 	 /s/ Beth Halberstadt

	 	 	 	 	 Name:
	 	 Beth Halberstadt

	 	 	 	 	 Title:
	 	 Vice President

			
	 	 	 	 	 Smith Asset Management Group, LP

				
	 Attest:
	 	  

	 	 By:
	 	 /s/ Stephen S. Smith

	 	 	 	 	 Name:
	 	 Stephen S. Smith

	 	 	 	 	 Title:
	 	 Chief Executive Officer

  

 14 

 APPENDIX A 
  
 Assets in the Subaccount 
  
 The assets in Subaccount shall consist of the following assets: 
  

(a) All assets held in the Subaccount on December 1, 2004; and 
  

(b) All amounts subsequently contributed or transferred to the Subaccount; and 
  
 (c) All interest, income and gains attributable to such amounts; minus 
  
 (d) All losses attributable to the amounts described in clauses (a) through
(c) above; minus 
  
 (e) All amounts withdrawn or transferred from
the Subaccount (not including amounts withdrawn to pay fees and expenses); minus 
  
 (f) A pro rata portion of the fees and expenses for the Fund (except for the fees and expenses chargeable directly for the advisory services, management, administration, custody and accounting for the Subaccount and
any other subaccounts of the Fund); minus 
  
 (g) The amounts
withdrawn to pay the fees and expenses chargeable directly for the advisory services, management, administration, custody and accounting for the Subaccount. 
  

 15 

 APPENDIX B 
  
 Fund Declaration 
  
 [Previously Filed] 
  

 16 

 APPENDIX C 
  
 Additional Investment Objectives and Restrictions 
  
 The Investment Advisor shall not recommend an investment: 
  

	 	(i)	if such investment, at the time of purchase, would cause more than 5% of the assets of the Subaccount to be invested in warrants generally, or more than 2% of the assets of the
Subaccount to be invested in warrants not listed on a nationally recognized United States securities exchange; 

  

	 	(ii)	if such investment, at the time of purchase, would cause more than 10% of the assets of the Subaccount to be invested in illiquid securities, including repurchase agreements with
maturities in excess of seven days or portfolio securities that are not readily marketable; 

  

	 	(iii)	in any industry, if such investment, at the time of purchase, would cause more than 25% of the assets of the Subaccount to be invested in such industry; 

  

	 	(iv)	in securities of an issuer if such investment, at the time of purchase, would cause more than 5% of the assets of the Subaccount to be invested in the securities of such issuer; or

  

	 	(v)	if such investment, at the time of purchase, would cause more than 15% of the assets of the Subaccount to be invested in foreign securities, including ADRs.

  

 17 

 APPENDIX D 
  
 Brokerage Practices 
  
 The Investment Advisor has provided the Trustee with a copy of Part II of the Form ADV most recently filed by the Investment Advisor with the Securities
and Exchange Commission, in which form the general brokerage practices of the Investment Advisor are described. The Investment Advisor will from time to time provide the Trustee with amendments to such form, in accordance with applicable law.

  

 18 

 APPENDIX E 
  
 Advisor Fees 
  
 For its services rendered as investment advisor under the Agreement, the Investment Advisor will be compensated at the annual rates set forth below, based
on the aggregate value of the assets in the Subaccount. Such compensation shall be calculated and accrued on a daily basis and paid monthly from the assets of the Subaccount. 
  

				
	 Value of Assets in Subaccount

	  	Rate

	 
	 $0 - $50,000,000
	  	0.85	%
	 $50,000,000 - $100,000,000
	  	0.65	%
	 all over $100,000,000
	  	0.45	%

  

 19 

 APPENDIX F 
  

	I.	Operational Procedures Between the Trustee and the Advisor 

  

	 	A.	It is understood and agreed that the Trustee: 

  

	 	1.	holds title to all of the assets of the Subaccount; 

  

	 	2.	is responsible to assure that investments made for the Subaccount meet applicable requirements and limitations; 

  

	 	3.	is required to value such assets; and 

  

	 	4.	will maintain the proper accounting records for the Subaccount. 

  

	 	B.	Cash. 

  

	 	1.	The Trustee will communicate daily to the Advisor by 12:00 noon (Eastern Time) the cash available for investment in the Subaccount, which information will be based on the procedures
set forth below. 

  

	 	2.	Extraordinary cash flow requirements - In the event the Trustee becomes aware of facts that will require the withdrawal of an extraordinary amount of cash from the Subaccount under
the Plans, the Trustee will promptly communicate to the Advisor such facts, including the amount and date of such cash withdrawal. 

  

	 	C.	The Advisor will communicate to the Trustee purchases and sales of investments in the Subaccount as follows: 

  

	 	1.	Common Stock and Long-Term Debt Securities. 

  

	 	(a)	The Advisor will communicate daily to the Trustee no later than 9:00 p.m. (Eastern Time) on the trade date all purchase and sale transactions for the Subaccount. Each daily report
will indicate separately number of purchases and sales and total trades. On days when no trades are recommended the Advisor will issue a negative trade report. Such communication will include the following information for each trade:

  

	 	•	Buy or sell 

  

	 	•	Trade date (if as of trade) 

  

	 	•	Settlement date 

  

	 	•	Name of broker or dealer or other party 

  

 20 

	 	•	Name of issue 

  

	 	•	CUSIP number/Cedel 

  

	 	•	Number of shares (or principal amount in local currency if debt security) 

  

	 	•	Price per share (or principal amount if debt security) in local currency 

  

	 	•	Price per share (or per $100 (or local equivalent) of debt security) in local currency 

  

	 	•	(For debt) Interest purchased or sold 

  

	 	•	Agreed upon commission per share (or per other unit of interest) 

  

	 	•	Total commission 

  

	 	•	Exchange on which transaction is executed (or transacted over the counter) 

  

	 	•	Net amount 

  

	 	•	Such other information as may be required by the Trustee 

  

	 	•	Clearing broker (“same” if same as trading broker) 

  

	 	•	SIC Code 

  

	 	(b)	For DTC eligible securities and when applicable, the Trustee shall confirm to DTC, as soon after trade date as possible, through an acknowledgement procedure acceptable to DTC and
the Trustee, all trades which accurately reflect the trades entered into for the Subaccount as reported to the Trustee by the Advisor. 

  

	 	(c)	The Advisor will arrange for a copy of each confirmation to be sent to the Trustee or an affiliate as designated by the Trustee. 

  

	 	2.	Short-Term Debt Securities 

  

	 	(a)	As of 10:30 a.m. (Eastern Time) on each business day, the Trustee will invest available cash in the Subaccount by purchasing and selling units for the Subaccount in the Yield
Enhanced Short Term 

  

 21 

 Investment Fund (“YES”), unless the Advisor notified the Trustee prior to such time that the
Advisor recommends investment in accordance with paragraph b. The Trustee shall confirm daily the number of units purchased and sold on the preceding day, as well as the YES unit value at the close of business on the preceding day. 
  

	 	(b)	Alternatively, the Advisor may notify the Trustee in advance in writing that the Advisor recommends that the Trustee invest available cash in the Subaccount.

  

	 	(i)	In such event, the Advisor will communicate daily to the Trustee or an affiliate no later than 10:00 a.m. (Eastern Time) all recommended purchase and sale transactions in short-term
securities to be made for the Subaccount. Such communication will include the following information for each trade: 

  

	 	•	Buy or sell 

  

	 	•	Trade date (if as of trade) 

  

	 	•	Settlement date 

  

	 	•	CUSIP number/Cedel 

  

	 	•	Name of broker or dealer or other party, if other than the issuing company 

  

	 	•	Name of issue 

  

	 	•	Current par value in local currency 

  

	 	•	Cost of acquisition or proceeds of sale 

  

	 	•	Last coupon date 

  

	 	•	Discount or interest rates 

  

	 	•	Maturity date of purchase 

  

	 	•	Collateral 

  

	 	•	Currency 

  

	 	•	Such other information as may be required by the Trustee 

  

 22 

	 	(ii)	The Advisor also will direct each executing broker or dealer or other party or the issuing companies to deliver or receive the securities against payment for the account of the
Trustee. 

  

	 	(iii)	The Trustee will convey to the Advisor no later than the next business day a report showing in detail the previous day’s transactions based on the procedures set forth in
Section II below. The Advisor will (a) promptly check the data in such report and (b) immediately advise the Trustee by telephone (followed by a written confirmation within two days) of any variances. 

  

	 	(iv)	If such investments are held to maturity the Trustee will redeem such securities on the maturity date and make the funds available to the Advisor for reinvestment.

  

	 	(v)	The Advisor will also direct each broker or dealer or party or issuing company to convey a copy of each confirmation to the Trustee. 

  

	II.	Valuation and Accounting of the Subaccount 

  

	 	A.	The assets of the Subaccount are valued as provided in the current prospectus included in the registration statement filed with the Securities and Exchange Commission.

  

	 	B.	Stocks and long-term debt security transactions will be recorded not later than the business day following the trade date. Dividend income will be recorded on the ex-dividend date.
Interest income will be accrued daily. 

  

	III.	Communications to Investment Advisor 

  

	 	A.	State Street will send the following reports on a monthly basis to the Advisor by overnight mail so that they are received no later than the tenth business day of the following
month: 

  

	 	•	Statement of Investments showing account holdings as of the last day of the month. 

  

	 	•	Monthly Summary of Account Activity Report (Trials). 

  

	 	•	Daily Purchase Activity Report (Purchases and Sales Report). 

  

	 	•	Daily Sales Activity Report (Purchases and Sales Report). 

  

 23 

	 	•	Actual Dividend Receipts Reports (Dividend and Interest Report). 

  

	 	•	Summary of Accounting Journals Report - This report displays a daily summary of client contributions, client withdrawals and expenses charged to the account (Cash Summary Report).

  

	 	•	Stock Dividend/Stock Split Schedule Report. Mergers, spinoffs, exchanges, etc. will also be indicted on this report as they occur. 

  

	 	•	YES Report. (This report will be distributed only if the Subaccount participates in YES for short term investments.) 

  

	 	B.	State Street will send the Advisor the existing broker list within two business days prior to the end of each month to determine whether any changes will be made under Section 4(c)
of the Agreement. 

  

	 	C.	The Advisor will send the following reports (or information) to the Trustee: 

  

	 	•	Monthly holdings (at month end) with security, # shares, price, yield, cost and market value. 

  

	 	•	List of transactions (purchase and sales) for the month with security, # shares and per share sale total. 

  

	 	•	Monthly return on portfolio, gross of fees. 

  

	IV.	Notices 

  
 The methods of communication and the persons to whom the information required by this Appendix F will be given, will be set forth in writing
between the Trustee and the Advisor from time to time as required by the circumstances to carry out the intent and purposes of the Agreement and this Appendix F. 
  

 24EXHIBIT 10.1

 Exhibit 10.1 
  
 BANKFINANCIAL, F.S.B. 
  
 EMPLOYEE STOCK OWNERSHIP PLAN 
  
 (adopted effective January 1, 2005) 

 CONTENTS 
  

					
	 	 	 	  	Page No.

	 Section 1.
	 	Plan Identity	  	1
	 1.1
	 	 Name
	  	1
	 1.2
	 	 Purpose
	  	1
	 1.3
	 	 Effective Date
	  	1
	 1.4
	 	 Fiscal Period
	  	1
	 1.5
	 	 Single Plan for All Employers
	  	1
	 1.6
	 	 Interpretation of Provisions
	  	1
	 Section 2.
	 	Definitions	  	1
	 Section 3.
	 	Eligibility for Participation	  	6
	 3.1
	 	 Initial Eligibility
	  	6
	 3.2
	 	 Definition of Eligibility Year
	  	7
	 3.3
	 	 Terminated Employees
	  	7
	 3.4
	 	 Certain Employees Ineligible
	  	7
	 3.5
	 	 Participation and Reparticipation
	  	7
	 3.6
	 	 Omission of Eligible Employee
	  	7
	 Section 4.
	 	Contributions and Credits	  	7
	 4.1
	 	 Discretionary Contributions
	  	8
	 4.2
	 	 Contributions for Stock Obligations
	  	8
	 4.3
	 	 Conditions as to Contributions
	  	8
	 4.4
	 	 Rollover Contributions
	  	9
	 Section 5.
	 	Limitations on Contributions and Allocations	  	9
	 5.1
	 	 Limitation on Annual Additions
	  	9
	 5.2
	 	 Effect of Limitations
	  	10
	 5.3
	 	 Limitations as to Certain Participants
	  	11
	 Section 6.
	 	Trust Fund and Its Investment.	  	11
	 6.1
	 	 Creation of Trust Fund
	  	11
	 6.2
	 	 Stock Fund and Investment Fund
	  	11
	 6.3
	 	 Acquisition of Stock
	  	12
	 6.4
	 	 Participants’ Option to Diversify
	  	13
	 Section 7.
	 	Voting Rights and Dividends on Stock	  	13
	 7.1
	 	 Voting and Tendering of Stock
	  	13
	 7.2
	 	 Dividends on Stock
	  	14
	 Section 8.
	 	Adjustments to Accounts	  	14
	 8.1
	 	 Adjustments for Transactions
	  	14
	 8.2
	 	 Valuation of Investment Fund
	  	15
	 8.3
	 	 Adjustments for Investment Experience
	  	15
	 Section 9.
	 	Vesting of Participants’ Interests	  	15
	 9.1
	 	 Deferred Vesting in Accounts
	  	15
	 9.2
	 	 Computation of Vesting Years
	  	15
	 9.3
	 	 Full Vesting Upon Certain Events
	  	16
	 9.4
	 	 Full Vesting Upon Plan Termination
	  	17
	 9.5
	 	 Forfeiture, Repayment, and Restoral
	  	17
	 9.6
	 	 Accounting for Forfeitures
	  	17
	 9.7
	 	 Vesting and Nonforfeitability
	  	17
	 Section 10.
	 	Payment of Benefits	  	17
	 10.1
	 	 Benefits for Participants
	  	18
	 10.2
	 	 Time for Distribution
	  	18
	 10.3
	 	 Marital Status
	  	19

  

 i 

					
	 10.4
	 	 Delay in Benefit Determination
	  	19
	 10.5
	 	 Accounting for Benefit Payments
	  	20
	 10.6
	 	 Options to Receive and Sell Stock
	  	20
	 10.7
	 	 Restrictions on Disposition of Stock
	  	21
	 10.8
	 	 Continuing Loan Provisions; Creations of Protections and Rights
	  	21
	 10.9
	 	 Direct Rollover of Eligible Distribution
	  	21
	 10.10
	 	 Waiver of 30-Day Period After Notice of Distribution
	  	22
	 Section 11.
	 	Rules Governing Benefit Claims and Review of Appeals	  	22
	 11.1
	 	 Claim for Benefits
	  	22
	 11.2
	 	 Notification by Committee
	  	22
	 11.3
	 	 Claims Review Procedure
	  	22
	 Section 12.
	 	The Committee and its Functions	  	23
	 12.1
	 	 Authority of Committee
	  	23
	 12.2
	 	 Identity of Committee
	  	23
	 12.3
	 	 Duties of Committee
	  	23
	 12.4
	 	 Valuation of Stock.
	  	23
	 12.5
	 	 Compliance with ERISA
	  	24
	 12.6
	 	 Action by Committee
	  	24
	 12.7
	 	 Execution of Documents
	  	24
	 12.8
	 	 Adoption of Rules
	  	24
	 12.9
	 	 Responsibilities to Participants
	  	24
	 12.10
	 	 Alternative Payees in Event of Incapacity
	  	24
	 12.11
	 	 Indemnification by Employers
	  	24
	 12.12
	 	 Nonparticipation by Interested Member
	  	24
	 Section 13.
	 	Adoption, Amendment, or Termination of the Plan	  	25
	 13.1
	 	 Adoption of Plan by Other Employers
	  	25
	 13.2
	 	 Plan Adoption Subject to Qualification
	  	25
	 13.3
	 	 Right to Amend or Terminate
	  	25
	 Section 14.
	 	Miscellaneous Provisions	  	25
	 14.1
	 	 Plan Creates No Employment Rights
	  	25
	 14.2
	 	 Nonassignability of Benefits
	  	25
	 14.3
	 	 Limit of Employer Liability
	  	26
	 14.4
	 	 Treatment of Expenses
	  	26
	 14.5
	 	 Number and Gender
	  	26
	 14.6
	 	 Nondiversion of Assets
	  	26
	 14.7
	 	 Separability of Provisions
	  	26
	 14.8
	 	 Service of Process
	  	26
	 14.9
	 	 Governing State Law
	  	26
	 14.10
	 	 Employer Contributions Conditioned on Deductibility
	  	26
	 14.11
	 	 Unclaimed Accounts
	  	26
	 14.12
	 	 Qualified Domestic Relations Order
	  	27
	 Section 15.
	 	Top-Heavy Provisions	  	27
	 15.1
	 	 Top-Heavy Plan
	  	27
	 15.2
	 	 Super Top-Heavy Plan
	  	28
	 15.3
	 	 Definitions
	  	28
	 15.4
	 	 Top-Heavy Rules of Application
	  	29
	 15.5
	 	 Minimum Contributions
	  	30
	 15.6
	 	 Minimum Vesting
	  	30
	 15.7
	 	 Top-Heavy Provisions Control in Top-Heavy Plan
	  	30

  

 ii 

 BANKFINANCIAL, F.S.B. 
 EMPLOYEE STOCK OWNERSHIP PLAN 
  
 Section 1. Plan Identity. 
  
 1.1
Name. The name of this Plan is “BankFinancial, F.S.B. Employee Stock Ownership Plan.” 
  
 1.2 Purpose. The purpose of this Plan is to describe the terms and conditions under which contributions made pursuant to the Plan will be
credited and paid to the Participants and their Beneficiaries. 
  
 1.3 Effective Date. The Effective Date of this Plan is January 1, 2005. 
  
 1.4 Fiscal Period. This Plan shall be operated on the basis of a January 1 to December 31 fiscal year for the purpose of keeping the Plan’s books and records and distributing or filing any reports
or returns required by law. 
  
 1.5 Single Plan for All
Employers. This Plan shall be treated as a single plan with respect to all participating Employers for the purpose of crediting contributions and forfeitures and distributing benefits, determining whether there has been any termination of
Service, and applying the limitations set forth in Section 5. 
  
 1.6 Interpretation of Provisions. The Employers intend this Plan and the Trust to be a qualified stock bonus plan under Section 401(a) of the Code and an employee stock ownership plan within the meaning of Section 407(d)(6) of
ERISA and Section 4975(e)(7) of the Code. The Plan is intended to have its assets invested primarily in qualifying employer securities of one or more Employers within the meaning of Section 407(d)(3) of ERISA, and to satisfy any requirement under
ERISA or the Code applicable to such a plan. 
  
 Accordingly, the
Plan and Trust Agreement shall be interpreted and applied in a manner consistent with this intent and shall be administered at all times and in all respects in a nondiscriminatory manner. 
  
 Section 2. Definitions. 
  
 The following capitalized words and phrases shall have the meanings specified when used in this Plan and in the Trust Agreement, unless the context
clearly indicates otherwise: 
  
 “Account” means
a Participant’s interest in the assets accumulated under this Plan as expressed in terms of a separate account balance which is periodically adjusted to reflect his Employer’s contributions, the Plan’s investment experience, and
distributions and forfeitures. 
  
 “Active
Participant” means a Participant who has satisfied the eligibility requirements under Section 3 and who has at least 1,000 Hours of Service during the current Plan Year. However, a Participant shall not qualify as an Active Participant
unless (i) he is in active Service with an Employer as of the last day of the Plan Year, or (ii) he is on a Recognized Absence as of that date, or (iii) his Service terminated during the Plan Year by reason of Disability, death, Early or Normal
Retirement. 
  
 “Bank” means BankFinancial,
F.S.B. and any entity which succeeds to the business of BankFinancial, and adopts this Plan as its own pursuant to Section 13.1 of the Plan. 

 “Beneficiary” means the person or persons who are designated by a Participant to receive
benefits payable under the Plan on the Participant’s death. In the absence of any designation or if all the designated Beneficiaries shall die before the Participant dies or shall die before all benefits have been paid, the Participant’s
Beneficiary shall be his surviving Spouse, if any, or his estate if he is not survived by a Spouse. The Committee may rely upon the advice of the Participant’s executor or administrator as to the identity of the Participant’s Spouse.

  
 “Break in Service” means any Plan Year, or,
for the initial eligibility computation period under Section 3.2, the 12-consecutive month period beginning on the first day of which an Employee has an Hour of Service, in which an Employee has 500 or fewer Hours of Service. Solely for this
purpose, an Employee shall be considered employed for his normal hours of paid employment during a Recognized Absence (said Employee shall not be credited with more than 501 Hours of Service to avoid a Break in Service), unless he does not resume
his Service at the end of the Recognized Absence. Further, if an Employee is absent for any period (i) by reason of the Employee’s pregnancy, (ii) by reason of the birth of the Employee’s child, (iii) by reason of the placement of a child
with the Employee in connection with the Employee’s adoption of the child, or (iv) for purposes of caring for such child for a period beginning immediately after such birth or placement, the Employee shall be credited with the Hours of Service
which would normally have been credited but for such absence, up to a maximum of 501 Hours of Service. 
  
 “Code” means the Internal Revenue Code of 1986, as amended. 
  
 “Committee” means the committee responsible for the administration of this Plan in accordance with Section
12. 
  
 “Company” means BankFinancial
Corporation, the holding company of the Bank, and any successor entity which succeeds to the business of the Company. 
  
 “Disability” means only a disability which renders the Participant totally unable, as a result of bodily or mental disease or injury, to
perform any duties for an Employer for which he is reasonably fitted, which disability is expected to be permanent or of long and indefinite duration. However, this term shall not include any disability directly or indirectly resulting from or
related to habitual drunkenness or addiction to narcotics, a criminal act or attempt, service in the armed forces of any country, an act of war, declared or undeclared, any injury or disease occurring while compensation to the Participant is
suspended, or any injury which is intentionally self-inflicted. Further, this term shall apply only if (i) the Participant is sufficiently disabled to qualify for the payment of disability benefits under the federal Social Security Act or Veterans
Disability Act, or (ii) the Participant’s disability is certified by a physician selected by the Committee. Unless the Participant is sufficiently disabled to qualify for disability benefits under the federal Social Security Act or Veterans
Disability Act, the Committee may require the Participant to be appropriately examined from time to time by one or more physicians chosen by the Committee, and no Participant who refuses to be examined shall be treated as having a Disability. In any
event, the Committee’s good faith decision as to whether a Participant’s Service has been terminated by Disability shall be final and conclusive. 
  
 “Early Retirement” means retirement on or after a Participant’s attainment of age 55 and the completion of 25 years of credited
Service with an Employer. If the Participant terminates employment before satisfying the age requirement, but has satisfied the employment requirement, the Participant will be entitled to elect early retirement upon satisfaction of the age
requirement. 
  
 “Effective Date”
means January 1, 2005. 
  

 2 

 “Employee” means any individual who is or has been employed or self-employed by an
Employer. “Employee” also means an individual employed by a leasing organization who, pursuant to an agreement between an Employer and the leasing organization, has performed services for the Employer and any related persons (within the
meaning of Section 414(n)(6) of the Code) on a substantially full-time basis for more than one year, if such services are performed under the primary direction or control of the Employer. However, such a “leased employee” shall not be
considered an Employee if (i) he participates in a money purchase pension plan sponsored by the leasing organization which provides for immediate participation, immediate full vesting, and an annual contribution of at least 10 percent of the
Employee’s 415 Compensation, and (ii) leased employees do not constitute more than 20 percent of the Employer’s total work force (including leased employees, but excluding Highly Paid Employees and any other Employees who have not
performed services for the Employer on a substantially full-time basis for at least one year). 
  
 “Employer” means the Bank or any affiliate within the purview of section 414(b), (c) or (m) and 415(h) of the Code, any other corporation, partnership, or proprietorship which adopts this Plan with
the Bank’s consent pursuant to Section 13.1, and any entity which succeeds to the business of any Employer and adopts the Plan pursuant to Section 13.2. For these purposes, Employer also means Financial Assurance Services and BF Asset Recovery
Corporation. 
  
 “Entry Date” means the Effective
Date of the Plan and each January 1 and July 1 of each Plan Year after the Effective Date. 
  
 “ERISA” means the Employee Retirement Income Security Act of 1974 (P.L. 93-406, as amended). 
  
 “415 Compensation” 
  
 (a) shall mean wages, as defined in Code Section 3401(a) for purposes of income tax withholding at the source. 
  
 (b) Any elective deferral as defined in Code Section
402(g)(3) (any Employer contributions made on behalf of a Participant to the extent not includible in gross income and any Employer contributions to purchase an annuity contract under Code Section 403(b) under a salary reduction agreement) and any
amount which is contributed or deferred by the Employer at the election of the Participant and which is not includible in gross income of the Participant by reason of Code Section 125 (Cafeteria Plan), Code Section 457 or 132(f)(4) shall also be
included in the definition of 415 Compensation. 
  
 (b) 415 Compensation in excess of $205,000 (as indexed) shall be disregarded for all Participants. For purposes of this sub-section, the $205,000 limit shall be referred to as the “applicable limit” for the Plan Year in question.
The $205,000 limit shall be adjusted for increases in the cost of living in accordance with Section 401(a)(17)(B) of the Code, effective for the Plan Year which begins within the applicable calendar year. For purposes of the applicable limit, 415
Compensation shall be prorated over short Plan Years. 
  
 “Highly Paid Employee” for any Plan Year means an Employee who, during either that or the immediately preceding Plan Year was at any time a five percent owner of the Employer (as defined in Code Section 416(i)(1)) or,
during the immediately preceding Plan Year, had 415 Compensation exceeding $90,000 and was among the most highly compensated one-fifth of all Employees (the $90,000 amount is adjusted at the same time and in the same manner as under Code Section
415(d), provided, however, the base period is the calendar quarter ending September 30, 1996). For these purposes, “the most highly compensated one-fifth of all Employees” shall be determined by taking into account all individuals working
for all related Employer 
  

 3 

 entities described in the definition of “Service,” but excluding any individual who has not completed six
months of Service, who normally works fewer than 17 1/2 hours per week or in fewer than six months per year, who
has not reached age 21, whose employment is covered by a collective bargaining agreement, or who is a nonresident alien who receives no earned income from United States sources. The applicable year for which a determination is being made is called a
“determination year” and the preceding 12-month period is called a look-back year. 
  
 “Hours of Service” means hours to be credited to an Employee under the following rules: 
  
 (a) Each hour for which an Employee is paid or is entitled
to be paid for services to an Employer is an Hour of Service. 
  
 (b) Each hour for which an Employee is directly or indirectly paid or is entitled to be paid for a period of vacation, holidays, illness, disability, lay-off, jury duty, temporary military duty, or leave of absence is
an Hour of Service. However, except as otherwise specifically provided, no more than 501 Hours of Service shall be credited for any single continuous period which an Employee performs no duties. No more than 501 Hours of Service will be credited
under this paragraph for any single continuous period (whether or not such period occurs in a single computation period). Further, no Hours of Service shall be credited on account of payments made solely under a plan maintained to comply with
worker’s compensation, unemployment compensation, or disability insurance laws, or to reimburse an Employee for medical expenses. 
  
 (c) Each hour for which back pay (ignoring any mitigation of damages) is either awarded or agreed to by an Employer is an Hour of Service.
However, no more than 501 Hours of Service shall be credited for any single continuous period during which an Employee would not have performed any duties. The same Hours of Service will not be credited both under paragraph (a) or (b) as the case
may be, and under this paragraph (c). These hours will be credited to the employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award agreement or payment is made.

  
 (d) Hours of Service shall be credited in any
one period only under one of the foregoing paragraphs (a), (b) and (c); an Employee may not get double credit for the same period. 
  
 (e) If an Employer finds it impractical to count the actual Hours of Service for any class or group of non-hourly Employees, each Employee
in that class or group shall be credited with 45 Hours of Service for each weekly pay period in which he has at least one Hour of Service. However, an Employee shall be credited only for his normal working hours during a paid absence. 
  
 (f) Hours of Service to be credited on account of a payment
to an Employee (including back pay) shall be recorded in the period of Service for which the payment was made. If the period overlaps two or more Plan Years, the Hours of Service credit shall be allocated in proportion to the respective portions of
the period included in the several Plan Years. However, in the case of periods of 31 days or less, the Administrator may apply a uniform policy of crediting the Hours of Service to either the first Plan Year or the second. 
  
 (g) In all respects an Employee’s Hours of Service
shall be counted as required by Section 2530.200b-2(b) and (c) of the Department of Labor’s regulations under Title I of ERISA. 
  
 “Investment Fund” means that portion of the Trust Fund consisting of assets other than Stock. Notwithstanding the above, assets from the
Investment Fund may be used to purchase Stock in the open market or otherwise, or used to pay on the Stock Obligation, and shares so purchased will be allocated to a Participant’s Stock Fund. 
  

 4 

 “Normal Retirement” means retirement on or after the Participant’s Normal
Retirement Date. 
  
 “Normal Retirement Date”
means the later of (i) the date on which a Participant attains age 65 and (ii) the 5th anniversary of the time a
Participant commenced participation in the Plan. 
  
 “Participant” means any Employee who is an Active Participant participating in the Plan, or Employee or former Employee who was previously an Active Participant and still has a balance credited to his Account. 

 
 “Plan Year” means the twelve-month period commencing
January 1 and ending December 31, 2005 and each period of 12 consecutive months beginning on January 1 of each succeeding year. 
  
 “Recognized Absence” means a period for which — 
  
 (a) an Employer grants an Employee a leave of absence for a limited period, but only if an Employer grants
such leave on a nondiscriminatory basis; or 
  
 (b) an Employee is temporarily laid off by an Employer because of a change in business conditions; or 
  
 (c) an Employee is on active military duty, but only to the extent that his employment rights are protected by the Military Selective
Service Act of 1967 (38 U.S.C. Sec. 2021). 
  
 “Service” means an Employee’s period(s) of employment or self-employment with an Employer, excluding for initial eligibility purposes any period in which the individual was a nonresident alien and did not receive from
an Employer any earned income which constituted income from sources within the United States. An Employee’s Service shall include any Service which constitutes Service with a predecessor Employer within the meaning of Section 414(a) of the
Code, provided, however, that Service with an acquired entity shall not be considered Service under the Plan unless required by applicable law or agreed to by the parties to such transaction. An Employee’s Service shall also include any Service
with an entity which is not an Employer, but only either (i) for a period after 1975 in which the other entity is a member of a controlled group of corporations or is under common control with other trades and businesses within the meaning of
Section 414(b) or 414(c) of the Code, and a member of the controlled group or one of the trades and businesses is an Employer, (ii) for a period after 1979 in which the other entity is a member of an affiliated service group within the meaning of
Section 414(m) of the Code, and a member of the affiliated service group is an Employer, or (iii) all Employers aggregated with the Employer under Section 414(o) of the Code (but not until the Proposed Regulations under Section 414(o) become
effective). Notwithstanding any provision of this Plan to the contrary, contributions, benefits and service credit with respect to qualified military service will be provided in accordance with Section 414(u) of the Code. 
  
 “Spouse” means the individual, if any, to whom a Participant
is lawfully married on the date benefit payments to the Participant are to begin, or on the date of the Participant’s death, if earlier. A former Spouse shall be treated as the Spouse or surviving Spouse to the extent provided under a qualified
domestic relations order as described in Section 414(p) of the Code. 
  

 5 

 “Stock” means shares of the Company’s voting common stock or preferred stock
meeting the requirements of Section 409(e)(3) of the Code issued by an Employer which is a member of the same controlled group of corporations within the meaning of Code Section 414(b). 
  
 “Stock Fund” means that portion of the Trust Fund consisting of Stock. 
  
 “Stock Obligation” means an indebtedness arising from any
extension of credit to the Plan or the Trust which satisfies the requirements set forth in Section 6.3 and which was obtained for any or all of the following purposes: 
  
 (i) to acquire qualifying Employer securities as defined in Treasury Regulations §54.4975-12;

  
 (ii) to repay such Stock Obligation; or

  
 (iii) to repay a prior exempt loan.

  
 “Trust” or “Trust Fund” means the
trust fund created under this Plan. 
  
 “Trust
Agreement” means the agreement between the Bank and the Trustee concerning the Trust Fund. If any assets of the Trust Fund are held in a co-mingled trust fund with assets of other qualified retirement plans, “Trust Agreement”
shall be deemed to include the trust agreement governing that co-mingled trust fund. With respect to the allocation of investment responsibility for the assets of the Trust Fund, the provisions of Article II of the Trust Agreement are incorporated
herein by reference. 
  
 “Trustee” means one or
more corporate persons or individuals selected from time to time by the Bank to serve as trustee or co-trustees of the Trust Fund. 
  
 “Unallocated Stock Fund” means that portion of the Stock Fund consisting of the Plan’s holding of Stock which have been acquired in
exchange for one or more Stock obligations and which have not yet been allocated to the Participant’s Accounts in accordance with Section 4.2. 
  
 “Valuation Date” means the last day of the each calendar quarter during the Plan Year and each other date as of which the Committee shall
determine the investment experience of the Investment Fund and adjust the Participants’ Accounts accordingly. 
  
 “Valuation Period” means the period following a Valuation Date and ending with the next Valuation Date. 
  
 “Vesting Year” means a unit of Service credited to a
Participant pursuant to Section 9.2 for purposes of determining his vested interest in his Account. 
  
 Section 3. Eligibility for Participation. 
  
 3.1 Initial Eligibility. An Employee shall enter the Plan as of the Entry Date coincident with or next following the last day of the Employee’s first Eligibility Year. However, if an Employee is not
in active Service with an Employer on the date he would otherwise first enter the Plan, his entry shall be deferred until the next day he is in Service. 
  

 6 

 3.2 Definition of Eligibility Year. An “Eligibility Year” means an applicable
eligibility period (as defined below) in which the Employee has completed 1,000 Hours of Service for the Employer. For this purpose: 
  
 (a) an Employee’s first “eligibility period” is the 12-consecutive month period beginning on the first day on which he has
an Hour of Service, and 
  
 (b) his subsequent
eligibility periods will be 12-consecutive month periods beginning on each January 1 after that first day of Service. 
  
 3.3 Terminated Employees. No Employee shall have any interest or rights under this Plan if he is never in active Service with an Employer on
or after the Effective Date. 
  
 3.4 Certain
Employees Ineligible. 
  

	 	(a)	No Employee shall participate in the Plan while his Service is covered by a collective bargaining agreement between an Employer and the Employee’s collective bargaining
representative if (i) retirement benefits have been the subject of good faith bargaining between the Employer and the representative and (ii) the collective bargaining agreement does not provide for the Employee’s participation in the Plan.

  

	 	(b)	Leased Employees are not eligible to participate in the Plan. 

  

	 	(c)	An eligible Employee may elect not to participate in the Plan, provided, however, such election is made solely to meet the requirements of Code Section 409(n). For an election to be
effective for a particular Plan Year, the Employee or Participant must file the election in writing with the Plan Administrator no later than the last day of the Plan Year for which the election is to be effective. The Employer may not make a
contribution under the Plan for the Employee or for the Participant for the Plan Year for which the election is effective, nor for any succeeding Plan Year, unless the Employee or Participant re-elects to participate in the Plan. The Employee or
Participant may elect again not to participate, but not earlier than the first Plan Year following the Plan Year in which the re-election was first effective. 

  
 3.5 Participation and Reparticipation. Subject to the satisfaction of the foregoing requirements, an Employee
shall participate in the Plan during each period of his Service from the date on which he first becomes eligible until his termination. For this purpose, an Employee who returns before five (5) consecutive Breaks in Service who previously satisfied
the initial eligibility requirements or who returns after five (5) consecutive one year Breaks in Service with a vested Account balance in the Plan shall re-enter the Plan as of the date of his return to Service with an Employer. 
  
 3.6 Omission of Eligible Employee. If, in any Plan Year, any
Employee who should be included as a Participant in the Plan is erroneously omitted and discovery of such omission is not made until after a contribution by his Employer for the year has been made, the Employer shall make a subsequent contribution
with respect to the omitted Employee in the amount which the said Employer would have contributed regardless of whether or not it is deductible in whole or in part in any taxable year under applicable provisions of the Code. 
  

 7 

 Section 4. Contributions and Credits. 
  
 4.1 Discretionary Contributions. The Employer shall from time to time contribute, with respect to a Plan Year,
such amounts as it may determine from time to time. The Employer shall have no obligation to contribute any amount under this Plan except as so determined in its sole discretion. The Employer’s contributions and available forfeitures for a Plan
Year shall be credited as of the last day of the year to the Accounts of the Active Participants in proportion to their amounts of 415 Compensation earned during that portion of the Plan Year that such persons are Participants in the Plan.

  
 4.2 Contributions for Stock Obligations. If the
Trustee, upon instructions from the Committee, incurs any Stock Obligation upon the purchase of Stock, the Employer may contribute for each Plan Year an amount sufficient to cover all payments of principal and interest as they come due under the
terms of the Stock Obligation. If there is more than one Stock Obligation, the Employer shall designate the one to which any contribution is to be applied. Investment earnings realized on Employer contributions and any dividends paid by the Employer
on Stock held in the Unallocated Stock Account, shall be applied to the Stock Obligation related to that Stock, subject to Section 7.2. 
  
 In each Plan Year in which Employer contributions, earnings on contributions, or dividends on unallocated Stock are used as payments under a Stock
Obligation, a certain number of shares of the Stock acquired with that Stock Obligation which is then held in the Unallocated Stock Fund shall be released for allocation among the Participants. The number of shares released shall bear the same ratio
to the total number of those shares then held in the Unallocated Stock Fund (prior to the release) as (i) the principal and interest payments made on the Stock Obligation in the current Plan Year bears to (ii) the sum of (i) above, and the remaining
principal and interest payments required (or projected to be required on the basis of the interest rate in effect at the end of the Plan Year) to satisfy the Stock Obligation. 
  
 At the direction of the Committee, the current and projected payments of interest under a Stock Obligation may be ignored in
calculating the number of shares to be released in each year if (i) the Stock Obligation provides for annual payments of principal and interest at a cumulative rate that is not less rapid at any time than level annual payments of such amounts for 10
years, (ii) the interest included in any payment is ignored only to the extent that it would be determined to be interest under standard loan amortization tables, and (iii) the term of the Stock Obligation, by reason of renewal, extension, or
refinancing, has not exceeded 10 years from the original acquisition of the Stock. 
  
 4.3 Conditions as to Contributions. Employers’ contributions shall in all events be subject to the limitations set forth in Section 5. Contributions may be made in the form of cash, or securities
and other property to the extent permissible under ERISA, including Stock, and shall be held by the Trustee in accordance with the Trust Agreement. In addition to the provisions of Section 13.3 for the return of an Employer’s contributions in
connection with a failure of the Plan to qualify initially under the Code, any amount contributed by an Employer due to a good faith mistake of fact, or based upon a good faith but erroneous determination of its deductibility under Section 404 of
the Code, shall be returned to the Employer within one year after the date on which the contribution was originally made, or within one year after its nondeductibility has been finally determined. However, the amount to be returned shall be reduced
to take account of any adverse investment experience within the Trust Fund in order that the balance credited to each Participant’s Account is not less that it would have been if the contribution had never been made. 
  

 8 

 4.4 Rollover Contributions. This Plan shall not accept a direct rollover or rollover
contribution of an “eligible rollover distribution” as such term is defined in Section 10.9-1 of the Plan. 
  
 Section 5. Limitations on Contributions and Allocations. 
  
 5.1 Limitation on Annual Additions. Notwithstanding anything herein to the contrary, allocation of Employer contributions for any Plan Year
shall be subject to the following: 
  
 5.1-1 If
allocation of Employer contributions in accordance with Section 4.1 will result in an allocation of more than one-third the total contributions for a Plan Year to the Accounts of Highly Paid Employees, then allocation of such amount shall be
adjusted so that such excess will not occur. 
  
 5.1-2 After adjustment, if any, required by the preceding paragraph, the annual additions during any Plan Year to any Participant’s Account under this and any other defined contribution plans maintained by the Employer or an affiliate
(within the purview of Section 414(b), (c) and (m) and Section 415(h) of the Code, which affiliate shall be deemed the Employer for this purpose) shall not exceed the lesser of $41,000 (or such other dollar amount which results from cost-of-living
adjustments under Section 415(d) of the Code) (the “dollar limitation”) or 100 percent of the Participant’s 415 Compensation for such limitation year (the “percentage limitation”). The percentage limitation shall not apply
to any contribution for medical benefits after separation from service (within the meaning of Section 401(h) or Section 419A(f)(2) of the Code) which is otherwise treated as an annual addition. If, as a result of the allocation of forfeitures, a
reasonable error in estimating a Participant’s annual compensation, a reasonable error in determining the amount of elective deferrals (within the meaning of Code Section 402(g)(3)) that may be made with respect to any individual under the
limits of Code Section 415, or under other limited facts and circumstances that the Commissioner of the Internal Revenue Service finds justify the availability of the rules set forth in this paragraph, the annual additions under the terms of the
Plan for a particular Participant would cause the limitations of Code Section 415 applicable to that Participant for the limitation year to be exceeded, the excess amounts shall not be deemed annual additions in that limitation year if they are
treated in accordance with any one of the following: 
  
 (i) Any excess amount at the end of the Plan Year that cannot be allocated to the Participant’s Account shall be reallocated to the remaining Participants who are eligible for an allocation of Employer contributions for the Plan Year.
The reallocation shall be made in accordance with Section 4.1 of the Plan as if the Participant whose Account otherwise would receive the excess amount is not eligible for an allocation of Employer contributions. 
  
 (ii) If the allocation or reallocation of the excess amounts
causes the limitations of Code section 415 to be exceeded with respect to each Participant for the limitation year, then the excess amount will be held unallocated in a suspense account. The suspense account will be applied to reduce future Employer
contributions for all remaining Participants in the next limitation year and each succeeding limitation year if necessary. 
  
 (iii) If a suspense account is in existence at any time during a limitation year, it will not participate in any allocation of investment
gains and losses. All amounts held in suspense accounts must be allocated to Participants’ Accounts before any contributions may be made to the Plan for the limitation year. 
  
 (iv) If a suspense account exists at the time of Plan termination, amounts held in the suspense account that
cannot be allocated shall revert to the Employer. 
  

 9 

 5.1-3 For purposes of this Section 5.1, the “annual addition” to a
Participant’s Accounts means the sum of (i) Employer contributions, (ii) Employee contributions, if any, and (iii) forfeitures. Annual additions to a defined contribution plan also include amounts allocated, after March 31, 1984, to an
individual medical account, as defined in Section 415(l)(2) of the Internal Revenue Code, which is part of a pension or annuity plan maintained by the Employer, amounts derived from contributions paid or accrued after December 31, 1985, in taxable
years ending after such date, which are attributable to post-retirement medical benefits allocated to the separate account of a Key Employee under a welfare benefit fund, as defined in Section 419A(d) of the Internal Revenue Code, maintained by the
Employer. For these purposes, annual additions to a defined contribution plan shall not include the allocation of the excess amounts remaining in the Unallocated Stock Fund subsequent to a sale of stock from such fund in accordance with a
transaction described in Section 8.1 of the Plan. 
  
 5.1-4 Notwithstanding the foregoing, if no more than one-third of the Employer contributions to the Plan for a year which are deductible under Section 404(a)(9) of the Code are allocated to Highly Paid Employees (within the meaning of
Section 414(q) of the Internal Revenue Code), the limitations imposed herein shall not apply to: 
  
 (i) forfeitures of Employer securities (within the meaning of Section 409 of the Code) under the Plan if such securities were acquired
with the proceeds of a loan described in Section 404(a)(9)(A) of the Code), or 
  
 (ii) Employer contributions to the Plan which are deductible under Section 404(a)(9)(B) and charged against a Participant’s Account.

  
 5.1-5 If the Employer contributes amounts, on
behalf of Employees covered by this Plan, to other “defined contribution plans” as defined in Section 3(34) of ERISA, the limitation on annual additions provided in this Section shall be applied to annual additions in the aggregate to this
Plan and to such other plans. Reduction of annual additions, where required, shall be accomplished first by reductions under such other plan pursuant to the directions of the named fiduciary for administration of such other plans or under
priorities, if any, established under the terms of such other plans and then by allocating any remaining excess for this Plan in the manner and priority set out above with respect to this Plan. 
  
 5.1-6 A limitation year shall mean each 12 consecutive month
period beginning each January 1. 
  
 5.2 Effect of
Limitations. The Committee shall take whatever action may be necessary from time to time to assure compliance with the limitations set forth in Section 5.1. Specifically, the Committee shall see that each Employer restrict its contributions
for any Plan Year to an amount which, taking into account the amount of available forfeitures, may be completely allocated to the Participants consistent with those limitations. Where the limitations would otherwise be exceeded by any Participant,
further allocations to the Participant shall be curtailed to the extent necessary to satisfy the limitations. Where an excessive amount is contributed on account of a mistake as to one or more Participants’ compensation, or there is an amount
of forfeitures which may not be credited in the Plan Year in which it becomes available, the amount shall be corrected in accordance with Section 5.1-2 of the Plan. If it is determined at any time that the Committee and/or Trustee has erred in
accepting and allocating any contributions or forfeitures under this Plan, or in allocating net gain or loss pursuant to Sections 8.2 and 8.3, then the Committee, in a uniform and nondiscriminatory manner, shall determine the manner in which such
error shall be corrected and shall promptly advise the Trustee in writing of such error and of the method for correcting such error. The Accounts of any or all Participants may be revised, if necessary, in order to correct such error. 
  

 10 

 5.3 Limitations as to Certain Participants. Aside from the limitations set forth in Section
5.1, if the Plan acquires any Stock in a transaction as to which a selling shareholder or the estate of a deceased shareholder is claiming the benefit of Section 1042 of the Code, the Committee shall see that none of such Stock, and no other assets
in lieu of such Stock, are allocated to the Accounts of certain Participants in order to comply with Section 409(n) of the Code. 
  
 This restriction shall apply at all times to a Participant who owns (taking into account the attribution rules under Section 318(a) of the Code, without
regard to the exception for employee plan trusts in Section 318(a)(2)(B)(i) more than 25 percent of any class of stock of a corporation which issued the Stock acquired by the Plan, or another corporation within the same controlled group, as defined
in Section 409(l)(4) of the Code (any such class of stock hereafter called a “Related Class”). For this purpose, a Participant who owns more than 25 percent of any Related Class at any time within the one year preceding the Plan’s
purchase of the Stock shall be subject to the restriction as to all allocations of the Stock, but any other Participant shall be subject to the restriction only as to allocations which occur at a time when he owns more than 25 percent of any Related
Class. 
  
 Further, this restriction shall apply to the selling
shareholder claiming the benefit of Section 1042 and any other Participant who is related to such a shareholder within the meaning of Section 267(b) of the Code, during the period beginning on the date of sale and ending on the later of (1) the date
that is ten years after the date of sale, or (2) the date of the Plan allocation attributable to the final payment of acquisition indebtedness incurred in connection with the sale. 
  
 This restriction shall not apply to any Participant who is a lineal descendant of a selling shareholder if the aggregate
amounts allocated under the Plan for the benefit of all such descendants do not exceed five percent of the Stock acquired from the shareholder. 
  
 5.4 Erroneous Allocations. No Participant shall be entitled to any annual additions or other allocations to his Account in excess of those
permitted under Section 5. If it is determined at any time that the administrator and/or Trustee have erred in accepting and allocating any contributions or forfeitures under this Plan, or in allocating investment adjustments, or in excluding or
including any person as a Participant, then the administrator, in a uniform and nondiscriminatory manner, shall determine the manner in which such error shall be corrected and shall promptly advise the Trustee in writing of such error and of the
method for correcting such error. The Accounts of any or all Participants may be revised, if necessary, in order to correct such error. 
  
 Section 6. Trust Fund and Its Investment. 
  
 6.1 Creation of Trust Fund. All amounts received under the Plan from Employers and investments shall be held as the Trust Fund pursuant to
the terms of this Plan and of the Trust Agreement between the Bank and the Trustee. The benefits described in this Plan shall be payable only from the assets of the Trust Fund, and none of the Bank, any other Employer, its board of directors or
trustees, its stockholders, its officers, its employees, the Committee, and the Trustee shall be liable for payment of any benefit under this Plan except from the Trust Fund. 
  
 6.2 Stock Fund and Investment Fund. The Trust Fund held by the Trustee shall be divided into the Stock Fund,
consisting entirely of Stock, and the Investment Fund, consisting of all assets of the Trust other than Stock. The Trustee shall have no investment responsibility for the Stock Fund, but shall accept any 
  

 11 

 Employer contributions made in the form of Stock, and shall acquire, sell, exchange, distribute, and otherwise deal with
and dispose of Stock in accordance with the instructions of the Committee. The Trustee shall have full responsibility for the investment of the Investment Fund, except to the extent such responsibility may be delegated from time to time to one or
more investment managers pursuant to Section 2.3 of the Trust Agreement, or to the extent the Committee directs the Trustee to purchase Stock with the assets in the Investment Fund. 
  
 6.3 Acquisition of Stock. From time to time the Committee may, in its sole discretion, direct the Trustee to
acquire Stock from the issuing Employer or from shareholders, including shareholders who are or have been Employees, Participants, or fiduciaries with respect to the Plan. The Trustee shall pay for such Stock no more than its fair market value,
which shall be determined conclusively by the Committee pursuant to Section 12.4. The Committee may direct the Trustee to finance the acquisition of Stock by incurring or assuming indebtedness to the seller or another party which indebtedness shall
be called a “Stock Obligation.” The term “Stock Obligation” shall refer to a loan made to the Plan by a disqualified person within the meaning of Section 4975(e)(2) of the Code, or a loan to the Plan which is guaranteed by a
disqualified person. A Stock Obligation includes a direct loan of cash, a purchase-money transaction, and an assumption of an obligation of a tax-qualified employee stock ownership plan under Section 4975(e)(7) of the Code (“ESOP”). For
these purposes, the term “guarantee” shall include an unsecured guarantee and the use of assets of a disqualified person as collateral for a loan, even though the use of assets may not be a guarantee under applicable state law. An
amendment of a Stock Obligation in order to qualify as an “exempt loan” is not a refinancing of the Stock Obligation or the making of another Stock Obligation. The term “exempt loan” refers to a loan that satisfies the provisions
of this paragraph. A “non-exempt loan” fails to satisfy this paragraph. Any Stock Obligation shall be subject to the following conditions and limitations: 
  
 6.3-1 A Stock Obligation shall be for a specific term, shall not be payable on demand except in the event of
default, and shall bear a reasonable rate of interest. 
  
 6.3-2 A Stock Obligation may, but need not, be secured by a collateral pledge of either the Stock acquired in exchange for the Stock Obligation, or the Stock previously pledged in connection with a prior Stock Obligation which is being
repaid with the proceeds of the current Stock Obligation. No other assets of the Plan and Trust may be used as collateral for a Stock Obligation, and no creditor under a Stock Obligation shall have any right or recourse to any Plan and Trust assets
other than Stock remaining subject to a collateral pledge. 
  
 6.3-3 Any pledge of Stock to secure a Stock Obligation must provide for the release of pledged Stock in connection with payments on the Stock obligations in the ratio prescribed in Section 4.2. 
  
 6.3-4 Repayments of principal and interest on any Stock
Obligation shall be made by the Trustee only from Employer cash contributions designated for such payments, from earnings on such contributions, and from cash dividends received on Stock, in the last case, however, subject to the further
requirements of Section 7.2. 
  
 6.3-5 In the
event of default of a Stock Obligation, the value of Plan assets transferred in satisfaction of the Stock Obligation must not exceed the amount of the default. If the lender is a disqualified person within the meaning of Section 4975 of the Code, a
Stock Obligation must provide for a transfer of Plan assets upon default only upon and to the extent of the failure of the Plan to meet the payment schedule of said Stock Obligation. For purposes of this paragraph, the making of a guarantee does not
make a person a lender. 
  

 12 

 6.4 Participants’ Option to Diversify. The Committee shall provide for a procedure
under which each Participant may, during the qualified election period, elect to “diversify” a portion of the Employer Stock allocated to his Account, as provided in Section 401(a)(28)(B) of the Code. An election to diversify must be made
on the prescribed form and filed with the Committee within the period specified herein. For each of the first five (5) Plan years in the qualified election period, the Participant may elect to diversify an amount which does not exceed 25% of the
number of shares allocated to his Account since the inception of the Plan, less all shares with respect to which an election under this Section has already been made. For the last year of the qualified election period, the Participant may elect to
have up to 50 percent of the value of his Account committed to other investments, less all shares with respect to which an election under this Section has already been made. The term “qualified election period” shall mean the six (6) Plan
Year period beginning with the first Plan Year in which a Participant has both attained age 55 and completed 10 years of participation in the Plan. A Participant’s election to diversify his Account may be made within each year of the qualified
election period and shall continue for the 90-day period immediately following the last day of each year in the qualified election period. Once a Participant makes such election, the Plan must complete diversification in accordance with such
election within 90 days after the end of the period during which the election could be made for the Plan Year. In the discretion of the Committee, the Plan may satisfy the diversification requirement by any of the following methods: 
  
 6.4-1 The Plan may distribute all or part of the amount
subject to the diversification election. 
  
 6.4-2 The Plan may offer the Participant at least three other distinct investment options, if available under the Plan. The other investment options shall satisfy the requirements of Regulations under Section 404(c) of ERISA. 
  
 6.4-3 The Plan may transfer the portion of the
Participant’s Account subject to the diversification election to another qualified defined contribution plan of the Employer that offers at least three investment options satisfying the requirements of the Regulations under Section 404(c) of
ERISA. 
  
 Section 7. Voting Rights and Dividends on Stock.

  
 7.1 Voting and Tendering of Stock. The
Trustee generally shall vote all shares of Stock held under the Plan in accordance with the written instructions of the Committee. However, if any Employer has registration-type class of securities within the meaning of Section 409(e)(4) of the
Code, or if a matter submitted to the holders of the Stock involves a merger, consolidation, recapitalization, reclassification, liquidation, dissolution, or sale of substantially all assets of an entity, then (i) the shares of Stock which have been
allocated to Participants’ Accounts shall be voted by the Trustee in accordance with the Participants’ written instructions, and (ii) the Trustee shall vote any unallocated Stock and allocated Stock for which it has received no voting
instructions in the same proportions as it votes the allocated Stock for which it has received instructions from Participants; provided, however, that if an exempt loan, as defined in Section 4975(d) of the Code, is outstanding and the Plan is in
default on such exempt loan, as default is defined in the loan documents, then to the extent that such loan documents require the lender to exercise voting rights with respect to the unallocated shares, the loan documents will prevail. In the event
no shares of Stock have been allocated to Participants’ Accounts at the time Stock is to be voted and any exempt loan which may be outstanding is not in default, each Participant shall be deemed to have one share of Stock allocated to his or
her Account for the sole purpose of providing the Trustee with voting instructions. 
  
 Notwithstanding any provision hereunder to the contrary, all unallocated shares of Stock must be voted by the Trustee in a manner determined by the Trustee to be for the exclusive benefit of the Participants and
Beneficiaries. Whenever such voting rights are to be exercised, the Employers shall provide the Trustee, in a 
  

 13 

 timely manner, with the same notices and other materials as are provided to other holders of the Stock, which the Trustee
shall distribute to the Participants. The Participants shall be provided with adequate opportunity to deliver their instructions to the Trustee regarding the voting of Stock allocated to their Accounts. The instructions of the Participants’
with respect to the voting of allocated shares hereunder shall be confidential. 
  
 7.1-1 In the event of a tender offer, Stock shall be tendered by the Trustee in the same manner as set forth above with respect to the
voting of Stock. Notwithstanding any provision hereunder to the contrary, Stock must be tendered by the Trustee in a manner determined by the Trustee to be for the exclusive benefit of the Participants and Beneficiaries. 
  
 7.2 Dividends on Stock. Dividends on Stock which are received
by the Trustee in the form of additional Stock shall be retained in the Stock Fund, and shall be allocated among the Participant’s Accounts and the Unallocated Stock Fund in accordance with their holdings of the Stock on which the dividends
have been paid. Dividends on Stock credited to Participants’ Accounts which are received by the Trustee in the form of cash shall, at the direction of the Employer paying the dividends, either (i) be credited to the Accounts in accordance with
Section 8.3 and invested as part of the Investment Fund, (ii) be distributed immediately to the Participants in proportion with the Participants’ Stock Fund Account balance (iii) be distributed to the Participants within 90 days of the close of
the Plan Year in which paid in proportion with the Participants’ Stock Fund Account balance, or (iv) be used to make payments on the Stock Obligation. If dividends on Stock allocated to a Participant’s Account are used to repay the Stock
Obligation, Stock with a fair market value equal to the dividends so used must be allocated to such Participant’s Account in lieu of the dividends. In addition, in the sole discretion of the Employer, the Employer may grant Participants the
right either: (A) to receive cash dividends paid on shares of Stock credited to such Participants’ ESOP Stock Accounts in accordance with alternative “(ii)” or “(iii)” above (the decision whether such distribution would be
made in accordance with alternative “(ii)” or “(iii)” would be made by the Employer or could be provided to the Participant, in the Employer’s sole discretion), or (B) to leave the cash dividends in the Plan to be credited
to the ESOP Stock Account and invested shares of Stock. Dividends on which such election may be made will be fully vested in the Participant. Accordingly, the Employer may elect to offer such fifth election only to Participants who are fully vested
in their Account. For so long as there is an outstanding Stock Obligation, dividends on Stock held in the Unallocated Stock Fund which are received by the Trustee in the form of cash shall be allocated to Participants’ Investment Fund Accounts
(pro rata based on the Participant’s Account balance in relation to all Participants’ Account balances) and shall be applied as soon as practicable to payments of principal and interest under the Stock Obligation incurred with the purchase
of the Stock. 
  
 Section 8. Adjustments to Accounts. 
  
 8.1 Adjustments for Transactions. An Employer contribution
pursuant to Section 4.1 shall be credited to the Participants’ Accounts as of the last day of the Plan Year for which it is contributed, in accordance with Section 4.1. Stock released from the Unallocated Stock Fund upon the Trust’s
repayment of a Stock Obligation pursuant to Section 4.2 shall be credited to the Participants’ Accounts as of the last day of the Plan Year in which the repayment occurred, pro rata based on the cash applied from such Participant’s Account
relative to the cash applied from all Participants’ Accounts. Any excess amounts remaining in the suspense account following a sale of Stock from the Unallocated Stock Fund to repay a Stock Obligation shall be allocated as of the last day of
the Plan Year in which the repayment occurred among the Participants’ Accounts in proportion to 415 Compensation. Any benefit which is paid to a Participant or Beneficiary pursuant to Section 10 shall be charged to the Participant’s
Account as of the first day of the Valuation Period in which it is paid. Any forfeiture or restoral shall be charged or credited to the Participant’s Account as of the first day of the Valuation Period in which the forfeiture or restoral occurs
pursuant to Section 9.6. 
  

 14 

 8.2 Valuation of Investment Fund. As of each Valuation Date, the Trustee shall prepare a
balance sheet of the Investment Fund, recording each asset (including any contribution receivable from an Employer) and liability at its fair market value. Any liability with respect to short positions or options and any item of accrued income or
expense and unrealized appreciation or depreciation shall be included; provided, however, that such an item may be estimated or excluded if it is not readily ascertainable unless estimating or excluding it would result in a material distortion. The
Committee shall then determine the net gain or loss of the Investment Fund since the preceding Valuation Date, which shall mean the entire income of the Investment Fund, including realized and unrealized capital gains and losses, net of any expenses
to be charged to the general Investment Fund and excluding any contributions by the Employer. The determination of gain or loss shall be consistent with the balance sheets of the Investment Fund for the current and preceding Valuation Dates.

  
 8.3 Adjustments for Investment Experience. Any
net gain or loss of the Investment Fund during a Valuation Period, as determined pursuant to Section 8.2, shall be allocated as of the last day of the Valuation Period among the Participants’ Accounts in proportion to the opening balance in
each Account, as adjusted for benefit payments and forfeitures during the Valuation Period, without regard to whatever Stock may be credited to an Account. Any cash dividends received on Stock credited to Participant’s Accounts shall be
allocated as of the last day of the Valuation Period among the Participants’ Accounts based on the opening balance in each Participant’s Stock Fund Account. 
  
 Section 9. Vesting of Participants’ Interests. 
  
 9.1 Deferred Vesting in Accounts. A Participant’s vested interest in his Account shall be based on his
Vesting Years in accordance with the following table, subject to the balance of this Section 9: 
  

				
	 Vesting Years

	  	Percentage of Interest Vested

	 
	 Fewer than 5
	  	0	%
	 5 or more
	  	100	%

  
 9.2 Computation
of Vesting Years. For purposes of this Plan, a “Vesting Year” means generally a Plan Year in which an Employee has at least 1,000 Hours of Service, beginning with the first Plan Year in which the Employee has completed an Hour of
Service with the Employer, and including Service with other Employers as provided in the definition of “Service.” Notwithstanding the above, an Employee who was employed with the Bank in its pre-conversion mutual form (the “Mutual
Bank”) shall receive credit for vesting purposes for each calendar year of continuous employment with the Mutual Bank in which such Employee completed 1,000 Hours of Service (such years shall also be referred to as “Vesting Years”).
However, a Participant’s Vesting Years shall be computed subject to the following conditions and qualifications: 
  
 9.2-1 A Participant’s Vesting Years shall not include any Service prior to the date on which an Employee attains age 18. 

 
 9.2-2 A Participant’s vested interest in his Account
accumulated before five (5) consecutive Breaks in Service shall be determined without regard to any Service after such five consecutive Breaks in Service. Further, if a Participant has five (5) consecutive Breaks in Service before his interest in
his Account has become vested to some extent, pre-Break years of Service shall not be required to be taken into account for purposes of determining his post-Break vested percentage. 
  
 9.2-3 In the case of a Participant who has 5 or more consecutive 1-year Breaks in Service, the
Participant’s pre-Break Service will count in vesting of the Employer-derived post-break accrued benefit only if either: 
  
 (i) such Participant has any nonforfeitable interest in the accrued benefit attributable to Employer contributions at the time of
separation from Service, or 
  

 15 

 (ii) upon returning to Service the number of consecutive 1-year Breaks in Service is less
than the number of years of Service. 
  
 9.2-4
Notwithstanding any provision of the Plan to the contrary, effective January 1, 1998, calculation of service for determining Vesting Years with respect to qualified military service will be provided in accordance with Section 414(u) of the Code.

  
 9.2-5 If any amendment changes the vesting
schedule, including an automatic change to or from a top-heavy vesting schedule, any Participant with three (3) or more Vesting Years may, by filing a written request with the Employer, elect to have his vested percentage computed under the vesting
schedule in effect prior to the amendment. The election period must begin not later than the later of sixty (60) days after the amendment is adopted, the amendment becomes effective, or the Participant is issued written notice of the amendment by
the Employer or the Committee. 
  
 9.3 Full Vesting Upon
Certain Events. 
  
 9.3-1 Notwithstanding
Section 9.1, a Participant’s interest in his Account shall fully vest on the Participant’s Normal Retirement Date. The Participant’s interest shall also fully vest in the event that his Service is terminated by Early Retirement,
Disability or by death. 
  
 9.3-2 The
Participant’s interest in his Account shall also fully vest upon the occurrence of a “Change in Control” (as defined below) unless the Change of Control constitutes an “Exempt Change in Control” (as defined below). For the
purposes of this Section 9: 
  

	 	(i)	The term “Change in Control” means any of the following: 

  
 (a) any “person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934 (a “Person”), is or becomes
the “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly, of securities of the Company representing twenty percent (20%) or more of the combined voting power of the Company’s
then outstanding voting securities, provided that, notwithstanding the foregoing and for all purposes of this Section 9.3: (1) the term “Person” shall not include (A) the Company or any of its subsidiaries, (B) an employee benefit plan of
the Company or any of its subsidiaries (including the Plan), and any trustee or other fiduciary holding securities under any such plan, and (C) a corporation or other entity owned, directly or indirectly, by the stockholders of the Company in
substantially the same proportions as their ownership of stock of the Company; (2) no Person shall be deemed the beneficial owner of any securities acquired by such Person in an Excluded Transaction (as defined below); and (3) no director or officer
of the Company or any direct or indirect subsidiary of the Company (or any affiliate of any such director or officer) shall, by reason of any or all of such directors or officers acting in their capacities as such, be deemed to beneficially own any
securities beneficially owned by any other such director or officer (or any affiliate thereof); or 
  
 (b). the “Incumbent Directors” (as defined below) cease, for any reason, to constitute a majority of the “Whole Board” (as defined
below); or 
  
 (c) a plan of reorganization, merger,
consolidation or similar transaction involving the Company and one or more other corporations or entities is consummated, other than a plan of reorganization, merger, consolidation or similar transaction that is an “Excluded Transaction”
(as defined below), or the stockholders of the Company approve a plan of complete liquidation of the Company, or a sale, liquidation or other disposition of all or substantially all of the assets of the Company or the Bank is consummated; or

  
 (d) a tender offer is made for 20% or more of the outstanding
voting securities of the Company and the stockholders owning beneficially or of record 20% or more of the outstanding voting securities of the Company have tendered or offered to sell their shares pursuant to such tender offer and such tendered
shares have been accepted by the tender offeror; or 
  
 (e) A
“Potential Change in Control” (as defined below) occurs, and the Board determines, pursuant to the vote of at majority of the Whole Board, with at least two-thirds (2/3) of the Incumbent Directors then in office voting in favor of such
determination, to deem the Potential Change in Control to be a Change in Control for the purposes of this Section 9.3. 
  
 (ii) The term “Excluded Transaction” means a plan of reorganization, merger, consolidation or similar transaction that would result in the
voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving corporation or any parent thereof) at least 50% of the
combined voting power of the voting securities of the entity surviving the plan of reorganization, merger, consolidation or similar transaction (or the parent of such surviving entity) immediately after such plan of reorganization, merger,
consolidation or similar transaction. 
  

 16 

	 	(iii)	The term “Incumbent Directors” means: 

  
 (a) the individuals who, on the date hereof, constitute the Board; and 
  
 (b) any new director whose appointment or election by the Board or nomination for election by the Company’s
stockholders was approved or recommended: (1) by the vote of at least two-thirds (2/3) of the Whole Board, with at least two-thirds of the Incumbent Directors then in office voting in favor of such approval or recommendation; or (2) by a Nominating
Committee of the Board whose members were appointed by the vote of at least two-thirds (2/3) of the Whole Board, with at least two-thirds of the Incumbent Directors then in office voting in favor of such appointments. 
  
 (iv) The term “Whole Board” means the total number of directors
that the Company would have if there were no vacancies on the Board at the time the relevant action or matter is presented to the Board for approval. 
  

	 	(v)	The term “Potential Change in Control” shall mean: 

  
 (a) the public announcement by any Person of an intention to take or to consider taking actions which, if consummated, would constitute a Change in
Control; or 
  
 (b) one or more transactions, events or
occurrences that result in a change in control of the Bank or the Company within the meaning of the Home Owners Loan Act, as amended, and the applicable rules and regulations promulgated thereunder, as in effect at the time of the change in control;
or 
  
 (c) a proxy statement soliciting proxies from stockholders
of the Company is filed or distributed seeking stockholder approval of a plan of reorganization, merger, consolidation or similar transaction involving the Company and one or more other entities, but only if such plan of reorganization, merger,
consolidation or similar transaction has not been approved by the vote of at least two-thirds (2/3) of the Whole Board, with at least two-thirds (2/3) of the Incumbent Directors then in office voting in favor of such plan of reorganization, merger,
consolidation or similar transaction. 
  
 9.4 Full Vesting
Upon Plan Termination. Notwithstanding Section 9.1, a Participant’s interest in his Account shall fully vest upon termination of this Plan or upon the permanent and complete discontinuance of contributions by his Employer. In the event
of a partial termination, the interest of each affected Participant shall fully vest with respect to that part of the Plan which is terminated. 
  
 9.5 Forfeiture, Repayment, and Restoral. If a Participant’s Service terminates before his interest in his Account is fully vested, that
portion which has not vested shall be forfeited if he either (i) receives a distribution of his entire vested interest pursuant to Section 10.1, or (ii) incurs a one-year Break in Service. If a Participant’s Service terminates prior to having
any portion of his Account become vested, such Participant shall be deemed to have received a distribution of his vested interest as of the Valuation Date next following his termination of Service. 
  
 If a Participant who has suffered a forfeiture of the nonvested portion of
his Account returns to Service before he has five (5) consecutive Breaks in Service, the nonvested portion shall be restored, provided that, if the Participant had received a distribution of his vested Account balance, the amount distributed shall
be repaid prior to such restoral. The Participant may repay such amount at any time within five years after he has returned to Service. The amount repaid shall be credited to his Account at the time it is repaid; an additional amount equal to that
portion of his Account which was previously forfeited shall be restored to his Account at the same time from other Employees’ forfeitures and, if such forfeitures are insufficient, from a special contribution by his Employer for that year. If
the Participant did not receive a distribution of his vested Account balance, any forfeiture restored shall include earnings that would have been credited to the Account but for the forfeiture. A Participant who was deemed to have received a
distribution of his vested interest in the Plan shall have his Account restored as of the first day on which he performs an Hour of Service after his return. 
  
 9.6 Accounting for Forfeitures. If a portion of a Participant’s Account is forfeited, Stock allocated to said Participant’s
Account shall be forfeited only after other assets are forfeited. If interests in more than one class of Stock have been allocated to a Participant’s Account, the Participant must be treated as forfeiting the same proportion of each class of
Stock. A forfeiture shall be charged to the Participant’s Account as of the first day of the first Valuation Period in which the forfeiture becomes certain pursuant to Section 9.5. Except as otherwise provided in that Section, a forfeiture
shall be added to the contributions of the terminated Participant’s Employer which are to be credited to other Participants pursuant to Section 4.1 as of the last day of the Plan Year in which the forfeiture becomes certain. 
  
 9.7 Vesting and Nonforfeitability. A Participant’s
interest in his Account which has become vested shall be nonforfeitable for any reason. 
  

 17 

 Section 10. Payment of Benefits. 
  
 10.1 Benefits for Participants. For a Participant whose Service ends for any reason, distribution will be made
to or for the benefit of the Participant or, in the case of the Participant’s death, his Beneficiary, by payment in a lump sum, in accordance with Section 10.2, either, or a combination of the following methods: 
  
 10.1-1 By payment in a lump sum, in accordance with Section
10.2; or 
  
 10.2-2 By payment in a series of
substantially equal annual installments over a period not to exceed five (5) years, provided the maximum period over which the distribution of a Participant’s Account may be made shall be extended by 1 year, up to five (5) additional years, for
each $165,000 (or fraction thereof) by which such Participant’s Account balance exceeds $830,000 (the aforementioned figures are subject to cost-of-living adjustments prescribed by the Secretary of the Treasury pursuant to Section 409(o)(2) of
the Code). 
  
 The Participant shall elect the
manner in which his vested Account balance will be distributed to him. If a Participant so desires, he may direct how his benefits are to be paid to his Beneficiary. If a deceased Participant did not file a direction with the Committee, the
Participant’s benefits shall be distributed to his Beneficiary in a lump sum. Notwithstanding any provision to the contrary, if the value of a Participant’s vested Account balance at the time of any distribution, does not equal or exceed
$5,000, then such Participant’s vested Account shall be distributed in a lump sum within 60 days after the end of the Plan Year in which employment terminates. If the value of a Participant’s vested Account balance is, or has ever been, in
excess of $5,000, then his benefits shall not be paid prior to the later of the time he has attained Normal Retirement or age 62 unless he elects an early payment date in a written election filed with the Committee. A Participant may modify such an
election at any time, provided any new benefit payment date is at least 30 days after a modified election is delivered to the Committee. Failure of a Participant to consent to a distribution prior to the later of Normal Retirement or age 62 shall be
deemed to be an election to defer commencement of payment of any benefit under this section. 
  
 10.2 Time for Distribution. 
  
 10.2-1 If the Participant and, if applicable, with the consent of the Participant’s spouse, elects the distribution of the Participant’s Account balance in the Plan, distribution shall commence as soon as
practicable following his termination of Service, but no later than one year after the close of the Plan Year: 
  
 (i) in which the Participant separates from service by reason of attainment of Normal Retirement Age under the Plan, Disability, or death;
or 
  
 (ii) which is the fifth Plan Year
following the year in which the Participant resigns or is dismissed, unless he is reemployed before such date. 
  
 10.2.2 Unless the Participant elects otherwise, the distribution of the balance of a Participant’s Account shall commence not later
than the 60th day after the latest of the close of the Plan Year in which - 
  
 (i) the Participant attains the age of 65; 
  
 (ii) occurs the tenth anniversary of the year in which the Participant commenced participation in the Plan; or 
  

 18 

 (iii) the Participant terminates his Service with the Employer. 
  
 10.2-3 Notwithstanding anything to the contrary, (1) with
respect to a 5-percent owner (as defined in Code Section 416), distribution of a Participant’s Account shall commence (whether or not he remains in the employ of the Employer) not later than the April 1 of the calendar year next following the
calendar year in which the Participant attains age 70 1/2, and (2) with respect to all other Participants,
payment of a Participant’s benefit will commence not later than April 1 of the calendar year following the calendar year in which the Participant attains age 70 1/2, or, if later, the year in which the Participant retires. A Participant’s benefit from that portion of his Account committed to the Investment Fund shall be calculated on
the basis of the most recent Valuation Date before the date of payment. 
  
 10.2-4 Distribution of a Participant’s Account balance after his death shall comply with the following requirements: 
  
 (i) If a Participant dies before his distributions have
commenced, distribution of his Account to his Beneficiary shall commence not later than one year after the end of the Plan Year in which the Participant died; however, if the Participant’s Beneficiary is his surviving Spouse, distributions may
commence on the date on which the Participant would have attained age 70 1/2. In either case, distributions shall
be completed within five years after they commence. 
  
 (ii) If the Participant dies after distribution has commenced pursuant to Section 10.1.2 but before his entire interest in the Plan has been distributed to him, then the remaining portion of that interest shall, in
accordance with Section 401(a)(9) of the Code, be distributed at least as rapidly as under the method of distribution being used under Section 10.1.2 at the date of his death. 
  
 (iii) If a married Participant dies before his benefit payments begin, then unless he has specifically
elected otherwise the Committee shall cause the balance in his Account to be paid to his Spouse. No election by a married Participant of a different Beneficiary shall be valid unless the election is accompanied by the Spouse’s written consent,
which (i) must acknowledge the effect of the election, (ii) must explicitly provide either that the designated Beneficiary may not subsequently be changed by the Participant without the Spouse’s further consent, or that it may be changed
without such consent, and (iii) must be witnessed by the Committee, its representative, or a notary public. (This requirement shall not apply if the Participant establishes to the Committee’s satisfaction that the Spouse may not be located.)

  
 10.2-5 All distributions under this section
shall be determined and made in accordance with final and temporary regulations Sections 1.401(a)(9)-1 through 1.401(a)(9)-9, as promulgated under Code Section 401(a)(9), including the minimum distribution incidental benefit requirements of Code
Section 401(a)(9)(G) and Section 1.401(a)(9)-2 of the proposed regulations. These provisions override any distribution options in the Plan inconsistent with Code Section 401(a)(9). 
  
 10.3 Marital Status. The Committee, the Plan, the Trustee, and the Employers shall be fully protected and
discharged from any liability to the extent of any benefit payments made as a result of the Committee’s good faith and reasonable reliance upon information obtained from a Participant and his Employer as to his marital status. 
  
 10.4 Delay in Benefit Determination. If the Committee is unable
to determine the benefits payable to a Participant or Beneficiary on or before the latest date prescribed for payment pursuant to Section 10.1 or 10.2, the benefits shall in any event be paid within 60 days after they can first be determined, with
whatever makeup payments may be appropriate in view of the delay. 
  

 19 

 10.5 Accounting for Benefit Payments. Any benefit payment shall be charged to the
Participant’s Account as of the first day of the Valuation Period in which the payment is made. 
  
 10.6 Options to Receive Stock or Cash. Unless ownership of virtually all Stock is restricted to active Employees and qualified retirement
plans for the benefit of Employees pursuant to the certificates of incorporation or by-laws of the Employers issuing Stock, a terminated Participant or the Beneficiary of a deceased Participant may instruct the Committee to distribute the
Participant’s entire vested interest in his Account in the form of cash or Stock or a combination thereof. In the event the Participant elects to receive all Stock, the Committee shall apply the Participant’s vested interest in the
Investment Fund to purchase sufficient Stock from the Stock Fund or from any owner of Stock to make the required distribution. 
  
 Any Participant who receives Stock pursuant to Section 10.1, and any person who has received Stock from the Plan or from such a Participant by reason of
the Participant’s death or incompetency, by reason of divorce or separation from the Participant, or by reason of a rollover contribution described in Section 402(a)(5) of the Code, shall have the right to require the Employer which issued the
Stock to purchase the Stock for its current fair market value (hereinafter referred to as the “put right”). The put right shall be exercisable by written notice to the Committee during the first 60 days after the Stock is distributed by
the Plan, and, if not exercised in that period, during the first 60 days in the following Plan Year after the Committee has communicated to the Participant its determination as to the Stock’s current fair market value. However, the put right
shall not apply to the extent that the Stock, at the time the put right would otherwise be exercisable, may be sold on an established market in accordance with federal and state securities laws and regulations. Similarly, the put option shall not
apply with respect to the portion of a Participant’s Account which the Employee elected to have reinvested under Code Section 401(a)(28)(B). If the put right is exercised, the Trustee may, if so directed by the Committee in its sole discretion,
assume the Employer’s rights and obligations with respect to purchasing the Stock. Notwithstanding anything herein to the contrary, in the case of a plan established by a bank (as defined in Code Section 581), the put option shall not apply if
the Bank is prohibited by a federal or state law from owning its stock or the stock of an affiliate and Participants are entitled to elect their benefits be distributed in cash. 
  
 If a Participant elects to receive his distribution in the form of a lump sum pursuant to Section 10.1.1 of the Plan, the
Employer or the Trustee, as the case may be, may elect to pay for the Stock in equal periodic installments, not less frequently than annually, over a period beginning not later than 30 days after the exercise of the put right and not exceeding five
years, with adequate security and interest at a reasonable rate on the unpaid balance, all such terms to be set forth in a promissory note delivered to the seller with normal terms as to acceleration upon any uncured default. 
  
 If a Participant elects to receive his distribution in the form of an
installment payment pursuant to Section 10.1.2 of the Plan, the Employer or the Trustee, as the case may be, shall pay for the Stock distributed in the installment distribution over a period which shall not exceed 30 days after the exercise of the
put right. 
  
 Nothing contained herein shall be deemed to
obligate any Employer to register any Stock under any federal or state securities law or to create or maintain a public market to facilitate the transfer or disposition of any Stock. The put right described herein may only be exercised by a person
described in the second preceding paragraph, and may not be transferred with any Stock to any other person. As to all Stock purchased by the Plan in exchange for any Stock Obligation, the put right shall be nonterminable. The put right for Stock
acquired through a Stock Obligation shall continue with respect to such Stock after the Stock Obligation is repaid or the Plan ceases to be an employee stock ownership plan. 
  

 20 

 10.7 Restrictions on Disposition of Stock. Except in the case of Stock which is traded on
an established market, a Participant who receives Stock pursuant to Section 10.1, and any person who has received Stock from the Plan or from such a Participant by reason of the Participant’s death or incompetency, by reason of divorce or
separation from the Participant, or by reason of a rollover contribution described in Section 402(a)(5) of the Code, shall, prior to any sale or other transfer of the Stock to any other person, first offer the Stock to the issuing Employer and to
the Plan at the greater of (i) its current fair market value, or (ii) the purchase price offered in good faith by an independent third party purchaser. This restriction shall apply to any transfer, whether voluntary, involuntary, or by operation of
law, and whether for consideration or gratuitous. Either the Employer or the Trustee may accept the offer within 14 days after it is delivered. Any Stock distributed by the Plan shall bear a conspicuous legend describing the right of first refusal
under this Section 10.7, as well as any other restrictions upon the transfer of the Stock imposed by federal and state securities laws and regulations. 
  
 10.8 Continuing Loan Provisions; Creations of Protections and Rights. Except as otherwise provided in Sections 10.6 and 10.7 and this
Section, no shares of Employer Stock held or distributed by the Trustee may be subject to a put, call or other option, or buy-sell arrangement. The provisions of this Section shall continue to be applicable to such Stock even if the Plan ceases to
be an employee stock ownership plan under Section 4975(e)(7) of the Code. 
  
 10.9 Direct Rollover of Eligible Distribution. A Participant or distributee may elect, at the time and in the manner prescribed by the Trustee or the Committee, to have any portion of an eligible
rollover distribution paid directly to an eligible retirement plan specified by the Participant or distributee in a direct rollover. 
  
 10.9-1 An “eligible rollover” is any distribution that does not include: any distribution that is one of a series of
substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the Participant and the Participant’s Beneficiary, or for a
specified period of ten years or more; any distribution to the extent such distribution is required under Code Section 401(a)(9); any hardship distribution described in Section 401(k)(2)(B)(i)(IV) of the Code; and the portion of any distribution
that is not included in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities). A portion of a distribution shall not fail to be an eligible rollover distribution merely because
the portion consists of after-tax employee contributions which are not includible in gross income. However, such portion may be transferred only to an individual retirement account or annuity described in Section 408(a) or (b) of the Code, or to a
qualified defined contribution plan described in Section 401(a) or 403(a) of the Code that agrees to separately accounting for the portion of such distribution which is includible in gross income and the portion of such distribution which is not so
includible. 
  
 10.9-2 An “eligible
retirement plan” is an individual retirement account described in Code Section 408(a), an individual retirement annuity described in Code Section 408(b), an annuity plan described in Code Section 403(a), or a qualified trust described in Code
Section 401(a), that accepts the distributee’s eligible rollover distribution. In the case of distributions after December 31, 2001, an eligible retirement plan shall also include an annuity contract described in Section 403(b) of the Code and
an eligible plan under Section 457(b) of the Code which is maintained by a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from this
plan. In the case of an eligible rollover distribution to a surviving Spouse, an eligible retirement plan is an individual retirement account or individual retirement annuity. 
  

 21 

 10.9-3 A “direct rollover” is a payment by the Plan to the eligible retirement
plan specified by the distributee. 
  
 10.9-4 The
term “distributee” shall refer to a deceased Participant’s Spouse or a Participant’s former Spouse who is the alternate payee under a qualified domestic relations order, as defined in Code Section 414(p). 
  
 10.10 Waiver of 30-Day Period After Notice of Distribution. If
a distribution is one to which Sections 401(a)(11) and 417 of the Code do not apply, such distribution may commence less than 30 days after the notice required under Section 1.411(a)-11(c) of the Income Tax Regulations is given, provided that:

  
 (i) the Trustee or Committee, as applicable,
clearly informs the Participant that the Participant has a right to a period of at least 30 days after receiving the notice to consider the decision of whether or not to elect a distribution (and, if applicable, a particular option), and 

 
 (ii) the Participant, after receiving the notice,
affirmatively elects a distribution. 
  
 Section 11. Rules Governing Benefit
Claims and Review of Appeals. 
  
 11.1 Claim for
Benefits. Any Participant or Beneficiary who qualifies for the payment of benefits shall file a claim for his benefits with the Committee on a form provided by the Committee. The claim, including any election of an alternative benefit form,
shall be filed at least 30 days before the date on which the benefits are to begin. If a Participant or Beneficiary fails to file a claim by the day before the date on which benefits become payable, he shall be presumed to have filed a claim for
payment for the Participant’s benefits in the standard form prescribed by Sections 10.1 or 10.2. 
  
 11.2 Notification by Committee. Within 90 days after receiving a claim for benefits (or within 180 days, if special circumstances require an
extension of time and written notice of the extension is given to the Participant or Beneficiary within 90 days after receiving the claim for benefits), the Committee shall notify the Participant or Beneficiary whether the claim has been approved or
denied. If the Committee denies a claim in any respect, the Committee shall set forth in a written notice to the Participant or Beneficiary: 
  
 (i) each specific reason for the denial; 
  
 (ii) specific references to the pertinent Plan provisions on which the denial is based; 
  
 (iii) a description of any additional material or
information which could be submitted by the Participant or Beneficiary to support his claim, with an explanation of the relevance of such information; and 
  
 (iv) an explanation of the claims review procedures set forth in Section 11.3. 
  
 11.3 Claims Review Procedure. Within 60 days after a
Participant or Beneficiary receives notice from the Committee that his claim for benefits has been denied in any respect, he may file with the Committee a written notice of appeal setting forth his reasons for disputing the Committee’s
determination. In connection with his appeal the Participant or Beneficiary or his representative may inspect or purchase copies of pertinent documents and records to the extent not inconsistent with other Participants’ and Beneficiaries’
rights of privacy. Within 60 days after receiving a notice of appeal from a prior determination (or within 120 days, if special circumstances require an extension of time and written notice of the extension is given to the Participant or Beneficiary
and his representative within 60 days after receiving the notice of appeal), the 
  

 22 

 Committee shall furnish to the Participant or Beneficiary and his representative, if any, a written statement of the
Committee’s final decision with respect to his claim, including the reasons for such decision and the particular Plan provisions upon which it is based. 
  
 Section 12. The Committee and its Functions. 
  
 12.1 Authority of Committee. The Committee shall be the “plan administrator” within the meaning of ERISA and shall have exclusive
responsibility and authority to control and manage the operation and administration of the Plan, including the interpretation and application of its provisions, except to the extent such responsibility and authority are otherwise specifically (i)
allocated to the Bank, the Employers, or the Trustee under the Plan and Trust Agreement, (ii) delegated in writing to other persons by the Bank, the Employers, the Committee, or the Trustee, or (iii) allocated to other parties by operation of law.
The Committee shall have exclusive responsibility regarding decisions concerning the payment of benefits under the Plan. The Committee shall have no investment responsibility with respect to the Investment Fund except to the extent, if any,
specifically provided in the Trust Agreement. In the discharge of its duties, the Committee may employ accountants, actuaries, legal counsel, and other agents (who also may be employed by an Employer or the Trustee in the same or some other
capacity) and may pay their reasonable expenses and compensation. 
  
 12.2 Identity of Committee. The Committee shall consists of three or more individuals selected by the Bank. Any individual, including a director, trustee, shareholder, officer, or Employee of an Employer, shall be eligible to
serve as a member of the Committee. The Bank shall have the power to remove any individual serving on the Committee at any time without cause upon 10 days written notice, and any individual may resign from the Committee at any time upon 10 days
written notice to the Bank. The Bank shall notify the Trustee of any change in membership of the Committee. 
  
 12.3 Duties of Committee. The Committee shall keep whatever records may be necessary to implement the Plan and shall furnish whatever
reports may be required from time to time by the Bank. The Committee shall furnish to the Trustee whatever information may be necessary to properly administer the Trust. The Committee shall see to the filing with the appropriate government agencies
of all reports and returns required of the Plan under ERISA and other laws. 
  
 Further, the Committee shall have exclusive responsibility and authority with respect to the Plan’s holdings of Stock and shall direct the Trustee in all respects regarding the purchase, retention, sale,
exchange, and pledge of Stock and the creation and satisfaction of Stock Obligations. The Committee shall at all times act consistently with the Bank’s long-term intention that the Plan, as an employee stock ownership plan, be invested
primarily in Stock. Subject to the direction of the board as to the application of Employer contributions to Stock Obligations, and subject to the provisions of Sections 6.4 and 10.6 as to Participants’ rights under certain circumstances to
have their Accounts invested in Stock or in assets other than Stock, the Committee shall determine in its sole discretion the extent to which assets of the Trust shall be used to repay Stock Obligations, to purchase Stock, or to invest in other
assets to be selected by the Trustee or an investment manager. No provision of the Plan relating to the allocation or vesting of any interests in the Stock Fund or the Investment Fund shall restrict the Committee from changing any holdings of the
Trust, whether the changes involve an increase or a decrease in the Stock or other assets credited to Participants’ Accounts. In determining the proper extent of the Trust’s investment in Stock, the Committee shall be authorized to employ
investment counsel, legal counsel, appraisers, and other agents and to pay their reasonable expenses and compensation. 
  
 12.4 Valuation of Stock. If the valuation of any Stock is not established by reported trading on a generally recognized public market, the
valuation of such Stock shall be determined by an independent 
  

 23 

 appraiser. For purposes of the preceding sentence, the term “independent appraiser” means any appraiser meeting
requirements similar to the requirements of the regulations prescribed under Section 170(a)(1) of the Code. 12. 5 Compliance with ERISA. The Committee shall perform all acts necessary to comply with ERISA. Each individual member or
employee of the Committee shall discharge his duties in good faith and in accordance with the applicable requirements of ERISA. 
  
 12.6 Action by Committee. All actions of the Committee shall be governed by the affirmative vote of a number of members which is a majority
of the total number of members currently appointed, including vacancies. 
  
 12.7 Execution of Documents. Any instrument executed by the Committee shall be signed by any member or employee of the Committee. 
  
 12.8 Adoption of Rules. The Committee shall adopt such rules and regulations of uniform applicability as it
deems necessary or appropriate for the proper administration and interpretation of the Plan. 
  
 12.9 Responsibilities to Participants. The Committee shall determine which Employees qualify to enter the Plan. The Committee shall furnish to each eligible Employee whatever summary plan descriptions,
summary annual reports, and other notices and information may be required under ERISA. The Committee also shall determine when a Participant or his Beneficiary qualifies for the payment of benefits under the Plan. The Committee shall furnish to each
such Participant or Beneficiary whatever information is required under ERISA (or is otherwise appropriate) to enable the Participant or Beneficiary to make whatever elections may be available pursuant to Sections 6 and 10, and the Committee shall
provide for the payment of benefits in the proper form and amount from the assets of the Trust Fund. The Committee may decide in its sole discretion to permit modifications of elections and to defer or accelerate benefits to the extent consistent
with applicable law and the best interests of the individuals concerned. 
  
 12.10 Alternative Payees in Event of Incapacity. If the Committee finds at any time that an individual qualifying for benefits under this Plan is a minor or is incompetent, the Committee may direct the
benefits to be paid, in the case of a minor, to his parents, his legal guardian, or a custodian for him under the Uniform Gifts to Minors Act, or, in the case of an incompetent, to his spouse, or his legal guardian, the payments to be used for the
individual’s benefit. The Committee and the Trustee shall not be obligated to inquire as to the actual use of the funds by the person receiving them under this Section 12.10, and any such payment shall completely discharge the obligations of
the Plan, the Trustee, the Committee, and the Employers to the extent of the payment. 
  
 12.11 Indemnification by Employers. Except as separately agreed in writing, the Committee, and any member or employee of the Committee, shall be indemnified and held harmless by the Employer, jointly and
severally, to the fullest extent permitted by ERISA, and subject to and conditioned upon compliance with 12 C.F.R. Section 545.121, to the extent applicable, against any and all costs, damages, expenses, and liabilities reasonably incurred by or
imposed upon it or him in connection with any claim made against it or him or in which it or he may be involved by reason of its or his being, or having been, the Committee, or a member or employee of the Committee, to the extent such amounts are
not paid by insurance. 
  
 12.12 Nonparticipation by
Interested Member. Any member of the Committee who also is a Participant in the Plan shall take no part in any determination specifically relating to his own participation or benefits, unless his abstention would leave the Committee
incapable of acting on the matter. 
  

 24 

 Section 13. Adoption, Amendment, or Termination of the Plan. 
  
 13.1 Adoption of Plan by Other Employers. With the consent of
the Bank, any entity may become a participating Employer under the Plan by (i) taking such action as shall be necessary to adopt the Plan, (ii) becoming a party to the Trust Agreement establishing the Trust Fund, and (iii) executing and delivering
such instruments and taking such other action as may be necessary or desirable to put the Plan into effect with respect to the entity’s Employees. 
  
 13.2 Plan Adoption Subject to Qualification. Notwithstanding any other provision of the Plan, the adoption of the Plan and the execution of
the Trust Agreement are conditioned upon their being determined initially by the Internal Revenue Service to meet the qualification requirements of Section 401(a) of the Code, so that the Employers may deduct currently for federal income tax
purposes their contributions to the Trust and so that the Participants may exclude the contributions from their gross income and recognize income only when they receive benefits. In the event that this Plan is held by the Internal Revenue Service
not to qualify initially under Section 401(a), the Plan may be amended retroactively to the earliest date permitted by U.S. Treasury Regulations in order to secure qualification under Section 401(a). If this Plan is held by the Internal Revenue
Service not to qualify initially under Section 401(a) either as originally adopted or as amended, each Employer’s contributions to the Trust under this Plan (including any earnings thereon) shall be returned to it and this Plan shall be
terminated. In the event that this Plan is amended after its initial qualification and the Plan as amended is held by the Internal Revenue Service not to qualify under Section 401(a), the amendment may be modified retroactively to the earliest date
permitted by U.S. Treasury Regulations in order to secure approval of the amendment under Section 401(a). 
  
 13.3 Right to Amend or Terminate. The Bank intends to continue this Plan as a permanent program. However, each participating Employer
separately reserves the right to suspend, supersede, or terminate the Plan at any time and for any reason, as it applies to that Employer’s Employees, and the Bank reserves the right to amend, suspend, supersede, merge, consolidate, or
terminate the Plan at any time and for any reason, as it applies to the Employees of each Employer. No amendment, suspension, supersession, merger, consolidation, or termination of the Plan shall (i) reduce any Participant’s or
Beneficiary’s proportionate interest in the Trust Fund, (ii) reduce or restrict, either directly or indirectly, the benefit provided any Participant prior to the amendment, or (iii) divert any portion of the Trust Fund to purposes other than
the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan. Moreover, there shall not be any transfer of assets to a successor plan or merger or consolidation with another plan
unless, in the event of the termination of the successor plan or the surviving plan immediately following such transfer, merger, or consolidation, each participant or beneficiary would be entitled to a benefit equal to or greater than the benefit he
would have been entitled to if the plan in which he was previously a participant or beneficiary had terminated immediately prior to such transfer, merger, or consolidation. Following a termination of this Plan by the Bank, the Trustee shall continue
to administer the Trust and pay benefits in accordance with the Plan as amended from time to time and the Committee’s instructions. 
  
 Section 14. Miscellaneous Provisions. 
  
 14.1 Plan Creates No Employment Rights. Nothing in this Plan shall be interpreted as giving any Employee the right to be retained as an
Employee by an Employer, or as limiting or affecting the rights of an Employer to control its Employees or to terminate the Service of any Employee at any time and for any reason, subject to any applicable employment or collective bargaining
agreements. 
  
 14.2 Nonassignability of Benefits.
No assignment, pledge, or other anticipation of benefits from the Plan will be permitted or recognized by the Employer, the Committee, or the Trustee. Moreover, benefits from the Plan shall not be subject to attachment, garnishment, or other legal
process for debts or liabilities of 
  

 25 

 any Participant or Beneficiary, to the extent permitted by law. This prohibition on assignment or alienation shall apply
to any judgment, decree, or order (including approval of a property settlement agreement) which relates to the provision of child support, alimony, or property rights to a present or former spouse, child or other dependent of a Participant pursuant
to a state domestic relations or community property law, unless the judgment, decree, or order is determined by the Committee to be a qualified domestic relations order within the meaning of Section 414(p) of the Code, as more fully set forth in
Section 14.12 hereof. 
  
 14.3 Limit of Employer
Liability. The liability of the Employer with respect to Participants under this Plan shall be limited to making contributions to the Trust from time to time, in accordance with Section 4. 
  
 14.4 Treatment of Expenses. All expenses incurred by the
Committee and the Trustee in connection with administering this Plan and Trust Fund shall be paid by the Trustee from the Trust Fund to the extent the expenses have not been paid or assumed by the Employer or by the Trustee. The Committee may
determine that, and shall inform the Trustee when, reasonable expenses may be charged directly to the Account or Accounts of a Participant or group of Participants to whom or for whose benefit such expenses are allocable, subject to the guidelines
set forth in Field Assistance Bulletin 2003-03, to the extent not superceded, or any successor directive issued by the Department of Labor. 
  
 14.5 Number and Gender. Any use of the singular shall be interpreted to include the plural, and the plural the singular. Any use of the
masculine, feminine, or neuter shall be interpreted to include the masculine, feminine, or neuter, as the context shall require. 
  
 14.6 Nondiversion of Assets. Except as provided in Sections 5.2 and 14.12, under no circumstances shall any portion of the Trust Fund be
diverted to or used for any purpose other than the exclusive benefit of the Participants and their Beneficiaries prior to the satisfaction of all liabilities under the Plan. 
  
 14.7 Separability of Provisions. If any provision of this Plan is held to be invalid or unenforceable, the
other provisions of the Plan shall not be affected but shall be applied as if the invalid or unenforceable provision had not been included in the Plan. 
  
 14.8 Service of Process. The agent for the service of process upon the Plan shall be the president of the Bank, or such other person as may
be designated from time to time by the Bank. 
  
 14.9
Governing State Law. This Plan shall be interpreted in accordance with the laws of the State of Illinois to the extent those laws are applicable under the provisions of ERISA. 
  
 14.10 Employer Contributions Conditioned on Deductibility.
Employer Contributions to the Plan are conditioned on deductibility under Code Section 404. In the event that the Internal Revenue Service shall determine that all or any portion of an Employer Contribution is not deductible under that Section,
the nondeductible portion shall be returned to the Employer within one year of the disallowance of the deduction. 
  
 14.11 Unclaimed Accounts. Neither the Employer nor the Trustees shall be under any obligation to search for, or ascertain the whereabouts
of, any Participant or Beneficiary. The Employer or the Trustees, by certified or registered mail addressed to his last known address of record with the Employer, shall notify any Participant or Beneficiary that he is entitled to a distribution
under this Plan, and the notice shall quote the provisions of this Section. If the Participant or Beneficiary fails to claim his benefits or make his whereabouts known in writing to the Employer or the Trustees within seven (7) calendar years after
the date of notification, the benefits of the Participant or Beneficiary under the Plan will be disposed of as follows: 
  
 (a) If the whereabouts of the Participant is unknown but the whereabouts of the Participant’s Beneficiary is known to the Trustees,
distribution will be made to the Beneficiary. 
  

 26 

 (b) If the whereabouts of the Participant and his Beneficiary are unknown to the
Trustees, the Plan will forfeit the benefit, provided that the benefit is subject to a claim for reinstatement if the Participant or Beneficiary make a claim for the forfeited benefit. 
  
 Any payment made pursuant to the power herein conferred upon the Trustees shall operate as a complete discharge of all
obligations of the Trustees, to the extent of the distributions so made. 
  
 14.12 Qualified Domestic Relations Order. Section 14.2 shall not apply to a “qualified domestic relations order” defined in Code Section 414(p), and such other domestic relations orders
permitted to be so treated under the provisions of the Retirement Equity Act of 1984. Further, to the extent provided under a “qualified domestic relations order,” a former Spouse of a Participant shall be treated as the Spouse or
surviving Spouse for all purposes under the Plan. 
  
 In the case of any domestic
relations order received by the Plan: 
  
 (a) The
Employer or the Committee shall promptly notify the Participant and any other alternate payee of the receipt of such order and the Plan’s procedures for determining the qualified status of domestic relations orders, and 
  
 (b) Within a reasonable period after receipt of such order,
the Employer or the Committee shall determine whether such order is a qualified domestic relations order and notify the Participant and each alternate payee of such determination. The Employer or the Committee shall establish reasonable procedures
to determine the qualified status of domestic relations orders and to administer distributions under such qualified orders. 
  
 During any period in which the issue of whether a domestic relations order is a qualified domestic relations order is being determined (by the Employer or
Committee, by a court of competent jurisdiction, or otherwise), the Employer or the Committee shall segregate in a separate account in the Plan or in an escrow account the amounts which would have been payable to the alternate payee during such
period if the order had been determined to be a qualified domestic relations order. If within eighteen (18) months the order (or modification thereof) is determined to be a qualified domestic relations order, the Employer or the Committee shall pay
the segregated amounts (plus any interest thereon) to the person or persons entitled thereto. If within eighteen (18) months it is determined that the order is not a qualified domestic relations order, or the issue as to whether such order is a
qualified domestic relations order is not resolved, then the Employer or the Committee shall pay the segregated amounts (plus any interest thereon) to the person or persons who would have been entitled to such amounts if there had been no order. Any
determination that an order is a qualified domestic relations order which is made after the close of the eighteen (18) month period shall be applied prospectively only. The term “alternate payee” means any Spouse, former Spouse, child or
other dependent of a Participant who is recognized by a domestic relations order as having a right to receive all, or a portion of, the benefit payable under a Plan with respect to such Participant. 
  
 Section 15. Top-Heavy Provisions. 
  
 15.1 Top-Heavy Plan. This Plan is top-heavy if any of the
following conditions exist: 
  
 (a) If the
top-heavy ratio for this Plan exceeds sixty percent (60%) and this Plan is not part of any required aggregation group or permissive aggregation group; 
  

 27 

 (b) If this Plan is a part of a required aggregation group (but is not part of a
permissive aggregation group) and the aggregate top-heavy ratio for the group of Plans exceeds sixty percent (60%); or 
  
 (c) If this Plan is a part of a required aggregation group and part of a permissive aggregation group and the aggregate top-heavy ratio
for the permissive aggregation group exceeds sixty percent (60%). 
  
 15.2 Super Top-Heavy Plan. This Plan will be a super top-heavy Plan if any of the following conditions exist: 
  
 (a) If the top-heavy ratio for this Plan exceeds ninety percent (90%) and this Plan is not part of any required aggregation group or
permissive aggregation group. 
  
 (b) If this
Plan is a part of a required aggregation group (but is not part of a permissive aggregation group) and the aggregate top-heavy ratio for the group of Plans exceeds ninety percent (90%), or 
  
 (c) If this Plan is a part of a required aggregation group
and part of a permissive aggregation group and the aggregate top-heavy ratio for the permissive aggregation group exceeds ninety percent (90%). 
  
 15.3 Definitions. 
  
 In making this determination, the Committee shall use the following definitions and principles: 
  
 15.3-1 The “Determination Date,” with respect to the first Plan Year of any plan, means the last
day of that Plan Year, and with respect to each subsequent Plan Year, means the last day of the preceding Plan Year. If any other plan has a Determination Date which differs from this Plan’s Determination Date, the top-heaviness of this Plan
shall be determined on the basis of the other plan’s Determination Date falling within the same calendar years as this Plan’s Determination Date. 
  
 15.3-2 A “Key Employee” means any employee or former employee (including any deceased employee) who at any time during the plan
year that includes the determination date was an officer of the employer having annual compensation greater than $130,000 (as adjusted under section 416(i)(1) of the Code for plan years beginning after December 31, 2002, a 5-percent owner of the
employer, or a 1-percent owner of the employer having annual compensation of more than $150,000. For this purpose, annual compensation means compensation within the meaning of section 415(c)(3) of the Code. The determination of who is a key employee
will be made in accordance with section 416(i)(1) of the Code and the applicable regulations and other guidance of general applicability issued thereunder. 
  
 15.3-3 A “Non-key Employee” means an Employee who at any time during the five years ending on the top-heavy Determination Date
for the Plan Year has received compensation from an Employer and who has never been a Key Employee, and the Beneficiary of any such Employee. 
  
 15.3-4 A “required aggregation group” includes (a) each qualified Plan of the Employer in which at least one Key Employee
participates in the Plan Year containing the Determination Date and (b) any other qualified Plan of the Employer which enables a Plan described in (a) to meet the requirements of Code Sections 401(a)(4) or 410. For purposes of the preceding
sentence, a qualified 
  

 28 

 Plan of the Employer includes a terminated Plan maintained by the Employer within the period ending on
the Determination Date. In the case of a required aggregation group, each Plan in the group will be considered a top-heavy Plan if the required aggregation group is a top-heavy group. No Plan in the required aggregation group will be considered a
top-heavy Plan if the required aggregation group is not a top-heavy group. All Employers aggregated under Code Sections 414(b), (c) or (m) or (o) (but only after the Code Section 414(o) regulations become effective) are considered a single Employer.

  
 15.3-5 A “permissive aggregation
group” includes the required aggregation group of Plans plus any other qualified Plan(s) of the Employer that are not required to be aggregated but which, when considered as a group with the required aggregation group, satisfy the requirements
of Code Sections 401(a)(4) and 410 and are comparable to the Plans in the required aggregation group. No Plan in the permissive aggregation group will be considered a top-heavy Plan if the permissive aggregation group is not a top-heavy group. Only
a Plan that is part of the required aggregation group will be considered a top-heavy Plan if the permissive aggregation group is top-heavy. 
  
 15.4 Top-Heavy Rules of Application. 
  
 For purposes of determining the value of Account balances and the present value of accrued benefits the following provisions shall apply: 
  
 15.4-1 The value of Account balances and the present value
of accrued benefits will be determined as of the most recent Valuation Date that falls within or ends with the twelve (12) month period ending on the Determination Date. 
  
 15.4-2 For purposes of testing whether this Plan is top-heavy, the present value of an individual’s
accrued benefits and an individual’s Account balances is counted only once each year. 
  
 15.4-3 The Account balances and accrued benefits of a Participant who is not presently a Key Employee but who was a Key Employee in a Plan
Year beginning on or after January 1, 1984 will be disregarded. 
  
 15.4-4 Employer contributions attributable to a salary reduction or similar arrangement will be taken into account. Employer matching contributions also shall be taken into account for purposes of satisfying the
minimum contribution requirements of Section 416(c)(2) of the Code and the Plan. 
  
 15.4-5 When aggregating Plans, the value of Account balances and accrued benefits will be calculated with reference to the Determination
Dates that fall within the same calendar year. 
  
 15.4-6 The present values of accrued benefits and the amounts of account balances of an employee as of the determination date shall be increased by the distributions made with respect to the employee under the plan and any plan aggregated
with the plan under Section 416(g)(2) of the Code during the 1-year period ending on the determination date. The preceding sentence shall also apply to distributions under a terminated plan which, had it not been terminated, would have been
aggregated with the plan under Section 416(g)(2)(A)(i) of the Code. In the case of a distribution made for a reason other than separation from service, death, or disability, this provision shall be applied by substituting “five (5) year
period” for “one (1) year period.” 
  
 15.4-7 Accrued benefits and Account balances of an individual shall not be taken into account for purposes of determining the top-heavy ratios if the individual has performed no services for the Employer during the one (1) year period
ending on the applicable Determination Date. Compensation for purposes of this subparagraph shall not include any payments made to an individual by the Employer pursuant to a qualified or non-qualified deferred compensation plan. 
  

 29 

 15.4-8 The present value of the accrued benefits or the amount of the Account balances of
any Employee participating in this Plan shall not include any rollover contributions or other transfers voluntarily initiated by the Employee except as described below. If this Plan transfers or rolls over funds to another Plan in a transaction
voluntarily initiated by the Employee, then this Plan shall count the distribution for purposes of determining Account balances or the present value of accrued benefits. A transfer incident to a merger or consolidation of two or more Plans of the
Employer (including Plans of related Employers treated as a single Employer under Code Section 414), or a transfer or rollover between Plans of the Employer, shall not be considered as voluntarily initiated by the Employee. 
  
 15.5 Minimum Contributions. For any Top-Heavy Year, each
Employer shall make a special contribution on behalf of each Participant to the extent that the total allocations to his Account pursuant to Section 4 is less than the lesser of: 
  
 (i) three percent of his 415 Compensation for that year, or 
  
 (ii) the highest ratio of such allocation to 415
Compensation received by any Key Employee for that year. For purposes of the special contribution of this Section 15.2, a Key Employee’s 415 Compensation shall include amounts the Key Employee elected to defer under a qualified 401(k)
arrangement. Such a special contribution shall be made on behalf of each Participant who is employed by an Employer on the last day of the Plan Year, regardless of the number of his Hours of Service, and shall be allocated to his Account.

  
 If the Employer maintains a qualified plan in addition to this
Plan and more than one such plan is determined to be Top-Heavy, a minimum contribution or a minimum benefit shall be provided in one of such other plans, including a plan that consists solely of a cash or deferred arrangement which meets the
requirements of Section 401(k)(12) of the Code and matching contributions with respect to which the requirements of Section 401(m)(11) of the Code are met. If the Employer has both a Top-Heavy defined benefit plan and a Top-Heavy defined
contribution plan and a minimum contribution is to be provided only in the defined contribution plan, then the sum of the Employer contributions and forfeitures allocated to the Account of each Non-key Employee shall be equal to at least five
percent (5%) of such Non-key Employee’s 415 Compensation for that year. 
  
 15.6 Minimum Vesting. For any Plan Year in which this Plan is Top-Heavy, a Participant=s vested interest in his Account shall be based on the following “top-heavy table”: 
  

				
	 Vesting Years

	  	Percentage of Interest Vested

	 
	 Less than 2
	  	0	%
	           2
	  	20	%
	           3
	  	40	%
	           4
	  	60	%
	           5
	  	100	%

  
 15.7 Top-Heavy
Provisions Control in Top-Heavy Plan. In the event this Plan becomes top-heavy and a conflict arises between the top-heavy provisions herein set forth and the remaining provisions set forth in this Plan, the top-heavy provisions shall
control. 
  

 30

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