Document:

Exhibit 10.1

 

COMMUNITY SAVINGS

EMPLOYMENT AGREEMENT

 

This Agreement (this
“Agreement”) is made effective as of the 8th day of September, 2016 (the “Effective
Date”), by and between Community Savings (the “Bank”), a federally-chartered institution with its principal
offices at 425 Main Street, Caldwell, Ohio, and Alvin B. Parmiter (“Executive”).

 

WITNESSETH:

 

WHEREAS, the Bank wishes
to assure itself of the services of Executive for the period provided in this Agreement; and

 

WHEREAS, Executive
is willing to serve in the employ of the Bank on a full-time basis as its President and Chief Executive Officer on the terms and
conditions set forth in this Agreement.

 

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

 

		1.	POSITION AND RESPONSIBILITIES

 

During the term of
Executive’s employment hereunder, Executive agrees to serve as the President and Chief Executive Officer of the Bank. Executive
shall perform administrative and management services for the Bank which are customarily performed by persons in a similar executive
officer capacity. Executive shall be responsible for the overall management of the Bank and shall be responsible for establishing
the business objectives, policies and strategic plan of the Bank. Executive shall also be responsible for providing leadership
and direction to all departments or divisions of the Bank, and shall be the primary contact between the Board of Directors and
the staff of the Bank. During the term of this Agreement, Executive also agrees to serve as a director of the Bank and, if elected,
as an officer and director of any subsidiary of the Bank. Executive’s principal place of employment shall be at the Bank’s
principal executive offices. The Bank shall provide Executive, at his principal place of employment, with support services and
facilities suitable to his position with the Bank and necessary or appropriate in connection with the performance of his duties
under this Agreement.

 

		2.	TERM OF EMPLOYMENT

 

(a)          The
term of this Agreement and the period of Executive’s employment under this Agreement will begin as of the Effective Date
and will continue for a period of thirty-six (36) full calendar months thereafter. As of January 1st each year (the
“Renewal Date”), beginning with the first January 1st following the Effective Date, this Agreement shall
renew for an additional year such that the remaining term shall again be thirty-six (36) full calendar months provided, however,
that the disinterested members of the Board of Directors of the Bank (the “Board of Directors”) shall at least thirty
(30) days before the Renewal Date conduct a comprehensive performance evaluation and review of Executive for purposes of determining

 

     

     

    

 

whether to extend this Agreement. The Board
of Directors shall give Executive notice of its decision whether or not to renew this Agreement at least ten (10) days prior to
the Renewal Date.

 

(b)          Notwithstanding
anything contained in this Agreement to the contrary, either Executive or the Bank may terminate Executive’s employment with
the Bank at any time during the term of this Agreement, subject to the terms and conditions of this Agreement.

 

(c)          In
the event of the Executive’s termination of employment under this Agreement for any reason, such termination shall also constitute
the Executive’s resignation from the Board of Directors of the Bank.

 

		3.	COMPENSATION AND REIMBURSEMENT

 

(a)          The
compensation specified under this Agreement shall constitute consideration paid by the Bank in exchange for duties described in
Section 1 of this Agreement. The Bank shall pay Executive, as compensation, a salary of not less than $119,880 per
year (“Base Salary”). Base Salary shall include any amounts of compensation deferred by Executive under any employee
benefit plan or deferred compensation arrangement maintained by the Bank. Base Salary shall be payable bi-weekly or, if different,
in accordance with the Bank’s customary payroll practices. During the term of this Agreement, Executive’s Base Salary
shall be reviewed at least annually by December 31st of each year. The review shall be conducted by the Board of Directors
or by a committee designated by the Board of Directors. The committee or the Board of Directors may increase, but not decrease,
Executive’s Base Salary at any time, except for a decrease not in excess of any decrease generally applicable to all officers
of the Bank. Any increase in Base Salary shall become the “Base Salary” for purposes of this Agreement. The Board
of Directors may engage the services of an independent consultant to assist in the determination of the appropriate Base Salary.
In addition to the Base Salary provided in this Section 3, the Bank shall also provide Executive with all other benefits as are
provided uniformly to full-time employees of the Bank, on a basis (including cost) no less favorable than the benefits provided
to other senior officers of the Bank.

 

(b)          In
addition to the Base Salary provided for in Section 3(a), the Bank will provide Executive with the opportunity to participate
in employee benefit plans, arrangements and perquisites substantially equivalent to those in which Executive was participating
or otherwise deriving a benefit from immediately prior to the Effective Date, and any other employee benefit plans, arrangements
and perquisites suitable for the Bank’s senior executives adopted by the Bank subsequent to the Effective Date, and the Bank
will not, without Executive’s prior written consent, make any changes in the plans, arrangements or perquisites which would
adversely affect Executive’s rights or benefits thereunder, without separately providing for an arrangement that ensures
Executive receives or will receive the economic value that Executive would otherwise lose as a result of such adverse effect, unless
the changes apply equally to all other employees or senior officers of the Bank. Without limiting the generality of the foregoing
provisions of this Section 3(b), Executive shall be entitled to participate in or receive benefits under any employee benefit
plans, whether tax-qualified or otherwise, including, but not limited to, retirement plans, supplemental retirement plans, deferred
compensation plans, pension plans, profit-sharing plans, employee stock ownership plans, stock award or stock option plans, health-and-accident plans, medical coverage or any other employee benefit plan or arrangement made

 

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available by the Bank in the future to
its senior executives and key management employees, subject to and on a basis consistent with the terms, conditions and overall
administration of the plans and arrangements (including designation by the Board of Directors of eligibility to participate, if
applicable). Executive shall also be entitled to participate in any incentive compensation or bonus plan or arrangement of the
Bank in which Executive is eligible to participate (and he shall be entitled to a pro rata distribution under any incentive compensation
or bonus plan as to any year in which a termination of employment occurs, other than Termination for Just Cause). A bonus may be
payable to Executive in cash and/or common stock of any holding company. Nothing paid to Executive under the plans or arrangements
will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

 

(c)          In
addition, the Bank shall provide (through direct payment to the university) Executive with the cost of tuition and fees (excluding
books) in obtaining a Master of Business Administration; provided (i) Executive maintain a grade point average of “B”
or better and (ii) the total cost paid by the Bank not exceed $30,000 and (iii) that Executive not voluntarily terminate his employment
with the Bank (other than for Good Reason) for two years following the date he obtains the degree. If Executive voluntarily terminates
his employment, other than for Good Reason, within the two-year period, he will reimburse the Bank for the cost of the tuition
and fees paid by the Bank on a pro-rated basis (determined by taking 1/24 for each month Executive will have not worked within
the two-year period).

 

(d)          In
addition to the Base Salary provided for by Section 3(a) and other compensation and benefits provided for by Sections 3(b)
and 3(c), the Bank shall pay or reimburse Executive for all reasonable expenses incurred by Executive in performing his obligations
under this Agreement in accordance with the Bank’s reimbursement policies, provided that the reimbursement is made within
one calendar year following the date on which the expense was incurred and provided further that the right to reimbursement is
not exchanged for another benefit. The amount of expenses eligible for reimbursement during the calendar year may not affect the
expenses eligible for reimbursement in any other calendar year.

 

(e)          Executive
shall be entitled to paid time off in accordance with the standard policies of the Bank for senior executive officers, but in no
event less than [20] days paid time off during each year of employment. Executive shall receive his Base Salary and other
benefits during periods of paid leave. Executive shall also be entitled to paid legal holidays in accordance with the policies
of the Bank. Executive shall also be entitled to sick leave in accordance with the policies of the Bank, but in no event less than
the number of days of sick leave per year to which Executive was entitled at the Effective Date.

 

		4.	OUTSIDE ACTIVITIES

 

During the term of
his employment under this Agreement, except for periods of absence occasioned by illness, reasonable vacation periods and reasonable
leaves of absence approved by the Board of Directors, Executive shall devote substantially all his business time, attention, skill,
and efforts to the faithful performance of his duties hereunder. Executive also may serve as a member of the board of directors
of business organizations, trade associations, and community and charitable organizations, subject to the annual approval of the
Board of Directors; provided that in each case the service shall not materially interfere with the performance of his duties

 

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under this Agreement, adversely affect
the reputation of the Bank or present any conflict of interest. Executive shall provide to the Board of Directors annually a list
of all organizations for which Executive serves as a director or in a similar capacity for purposes of obtaining the approval of
the Board of Directors of Executive’s service on the boards of such organizations (it being understood that membership in
social, religious, charitable or similar organizations does not require approval of the Board of Directors pursuant to this Section
4).

 

		5.	PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION

 

(a)          Upon
the occurrence of an Event of Termination (as herein defined) during Executive’s term of employment under this Agreement,
the provisions of this Section 5 shall apply. As used in this Agreement, an “Event of Termination” shall mean
and include any of the following:

 

(i)          the
termination by the Bank of Executive’s full-time employment hereunder for any reason other than termination governed by Section 6
(Termination for Just Cause), or termination governed by Section 7 (Termination For Disability or Death), or termination governed
by Section 8 (Termination Upon Retirement); or

 

(ii)         Executive’s
resignation from the Bank’s employ for any of the following reasons (each shall be deemed a “Good Reason”):

 

		(A)	the failure to elect or reelect or to appoint or reappoint Executive to the position set forth
under Section 1 of this Agreement or the failure to nominate or re-nominate Executive as a director of the Bank;

 

		(B)	a material change in Executive’s functions, duties, or responsibilities with the Bank, which
change would cause Executive’s position to become one of lesser responsibility, importance, or scope from the position and
attributes described in Section 1 of this Agreement;

 

		(C)	a relocation of Executive’s principal place of employment by more than 30 miles from the
main office of the Bank;

 

		(D)	a material reduction in the benefits and perquisites of Executive from those being provided as
of the Effective Date, other than a reduction pursuant to Section 3(a) of this Agreement or a reduction that is part of a Bank-wide
reduction in pay or benefits;

 

		(E)	a liquidation or dissolution of the Bank, other than a liquidation or dissolution which does not
affect the status of Executive; or

 

		(F)	a material breach of this Agreement by the Bank.

 

Upon the occurrence
of any event described in clauses (ii)(A), (B), (C), (D), (E) or (F), above, Executive shall have the right to elect to terminate
his employment under this

 

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Agreement by
resignation upon not less than thirty (30) days prior written Notice of Termination, as defined in Section 9(a), given
within ninety (90) days after the event giving rise to said right to elect. Notwithstanding the preceding sentence, Executive,
after giving due notice within the prescribed time frame of an initial event specified above, shall not waive any of his rights
under this Agreement by virtue of the fact that Executive has submitted his resignation but has remained in the employ of the Bank,
provided Executive is engaged in good faith discussions to resolve the occurrence of any event described in clauses (ii)(A), (B),
(C), (D), (E) or (F) above. During this thirty (30) day period, the Bank shall have the right to cure the Good Reason, and in the
event that the Bank cures said Good Reason, Executive shall no longer have the right to terminate employment and receive a payment
under this Agreement.

 

(iii)        The
termination of Executive’s employment (other than Termination for Just Cause) by the Bank (or any successor thereto) on the
effective date of, or at any time following a Change in Control, or Executive’s resignation from the Bank’s employ
due to Good Reason (subject to Executive’s notice of Good Reason and the Bank’s right to cure, as set forth in Section
5(a)(ii)) on the effective date of, or at any time following a Change in Control, during the term of this Agreement. For these
purposes, a Change in Control shall mean the occurrence of any of the following events:

 

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

 

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

 

		(C)	Change in Board Composition: Individuals who constitute the Bank’s Board of Directors
on the Effective Date hereof (the “Incumbent Board”) cease for any reason to constitute at least a majority thereof,
provided that any person becoming a director subsequent to the Effective Date whose election was approved by a vote of at least
three-quarters of the directors comprising the Incumbent Board shall be considered, for purposes of this clause (C), as though
he or she was a member of the Incumbent Board; or

 

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

 

Notwithstanding anything in this Agreement to the contrary,
in no event shall the conversion of the Bank from mutual to stock form (including, without limitation, through the formation of
a stock holding company), the reorganization of the Bank into the mutual holding company form of organization or the issuance of
stock by a parent mutual holding company in connection with a conversion or minority stock offering constitute a Change in Control
for purposes of this Agreement.

 

(b)          Upon
the occurrence of an Event of Termination under Sections 5(a)(i) or 5(a)(ii) above, on the Date of Termination, as defined in Section 9(b)
of this Agreement, the Bank shall be obligated to pay Executive, or, in the event of his subsequent death, his beneficiary or beneficiaries,
or his estate, as the case may be, as severance pay or liquidated damages, or both, an amount equal to the sum of: (i) his earned
but unpaid salary as of the date of his termination of employment with the Bank; (ii) the benefits, if any, to which he is entitled
as a former employee under the employee benefit plans and programs and compensation plans and programs maintained for the benefit
of the Bank’s officers and employees; and (iii) the remaining payments of Base Salary that Executive would have earned, in
accordance with Section 3(a) if he had continued his employment with the Bank for the remaining term of this Agreement plus
the bonus or incentive award Executive would have received in each year during the remaining term in an amount equal to the average
bonus and/or incentive award earned by him over the three calendar years preceding the year in which the termination occurs (in
determining the bonus and/or incentive portion of the payment, the total amount will be determined by: adding the bonuses and/or
incentives earned in each of the last three years; dividing the total by 36; and then multiplying the result by the number of whole
months in the remaining unexpired term of this Agreement). Any payments hereunder shall be made in a lump sum within thirty (30)
days after the Date of Termination, or in the event that Section 409A of the Internal Revenue Code of 1986, as amended (“Code”)
applies to the payment, and Executive is considered a “Specified Employee” under Code Section 409A, on the first day
of the seventh month following the Date of Termination. The payments shall not be reduced in the event Executive obtains other
employment following termination of employment.

 

(c)          Upon
the occurrence of an Event of Termination under Section 5(a)(iii), on the Date of Termination, as defined in Section 9(b)
of this Agreement, the Bank shall be obligated to pay Executive, or, in the event of his subsequent death, his beneficiary or beneficiaries,
or his estate, as the case may be, as severance pay or liquidated damages, or both, an amount equal to the sum of: (i) his earned
but unpaid salary as of the date of his termination of employment with the Bank; (ii) the benefits, if any, to which he is entitled
as a former employee under the employee benefit plans and programs and compensation plans and programs maintained for the benefit
of the Bank’s officers and employees; and (iii) an amount equal to three (3) times Executive’s “base amount,”
as that term is defined for purposes of Code Section 280G. Any payments hereunder shall be made in a lump sum within five (5) days
after the Date of Termination, or in the event that Code Section 409A applies to the payment and Executive is considered a “Specified
Employee” under Code Section 409A, on the first day of the seventh month following the Date of Termination. The payments
shall not be reduced in the event Executive obtains other employment following termination of employment.

 

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(d)          Upon
the occurrence of an Event of Termination, the Bank will cause to be continued at its expense non-taxable medical and dental coverage
and life insurance substantially identical to the coverage maintained by the Bank for Executive and his family prior to Executive’s
termination. The coverage shall continue for the remaining term of this Agreement in the case of an Event of Termination under
Sections 5(a)(i) or 5(a)(ii), and for a period of thirty-six (36) months from the Date of Termination in the case of an Event of
Termination under Section 5(a)(iii) of this Agreement.  If the Bank cannot provide the benefits set forth in this Section
5(d) because Executive is no longer an employee, applicable rules and regulations prohibit the benefits in the manner contemplated,
or it would subject the Bank to penalties, then the Bank shall pay Executive a cash lump sum payment reasonably estimated to be
equal to the value of such benefits or the value of the remaining benefits at the time of such determination. The cash payment
shall be made in a lump sum within thirty (30) days after the later of Executive’s date of termination or the effective date
of the rules or regulations prohibiting the benefits or subjecting the Bank to penalties.

 

(e)          Executive
shall be entitled to voluntarily terminate his employment other than for Good Reason at any time during the term of this Agreement,
provided, however, that Executive shall not be entitled to any compensation or benefits under this Section 5 as a result of such
termination.

 

(f)          Any
payments or benefits under Sections 5(a)(i) or 5(a)(ii) of the Agreement shall be contingent on Executive’s execution and
non-revocation of a mutual release (the “Mutual Release”), satisfactory to the Bank, of all claims that Executive or
any of Executive’s affiliates or beneficiaries may have against the Bank or any affiliate, and their officers, directors,
successors and assigns, releasing said persons from any and all claims, rights, demands, causes of action, suits, arbitrations
or grievances relating to Executive’s employment relationship, including claims under the Age Discrimination in Employment
Act (“ADEA”), but not including claims for benefits under tax-qualified plans or other benefit plans in which Executive
is vested, claims for benefits required by applicable law or claims with respect to obligations set forth in this Agreement that
survive the termination of this Agreement. The Bank shall also execute the Mutual Release, which shall release Executive, his affiliates
and beneficiaries from any and all claims rights, demands, causes of action, suits, arbitrations or grievances relating to Executive’s
employment relationship, provided, however, that if the Bank refuses to execute the Mutual Release in the time frame set forth
below, Executive’s obligation to execute and not revoke the Mutual Release as a precondition to receiving such payments or
benefits under Sections 5(a)(i) or 5(a)(ii) shall terminate. Notwithstanding the foregoing sentence, the Mutual Release shall not
release Executive for (i) acts of fraud; (ii) felonious acts for which Executive is convicted, enters a plea of nolo contendere,
or enters into a pre-trial diversion or similar program; (iii) intentional misconduct resulting in financial harm to the Bank;
or (iv) willful violation of any material federal banking law or regulation. In order to comply with the requirements of Section
409A of the Code and the ADEA, the release must be provided to Executive no later than the date of his Separation from Service
and Executive and the Bank must execute the Mutual Release within twenty-one (21) days after the date of termination without subsequent
revocation by Executive within seven (7) days after execution of the release. This Section 5(f) shall not apply with respect to
payments or benefits under Section 5(a)(iii) of this Agreement.

 

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(g)          Notwithstanding
the foregoing, to the extent required by regulations or interpretations of the Office of the Comptroller of the Currency (“OCC”),
all severance payments under the Agreement shall not exceed three (3) times Executive’s average annual compensation (as defined
in such regulations or interpretations) over the most recent five (5) taxable years.

 

		6.	TERMINATION FOR JUST CAUSE

 

(a)          The
term “Termination for Just Cause” shall mean termination because of Executive’s personal dishonesty, incompetence,
willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation
of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material
breach of any provision of this Agreement.

 

(b)          Notwithstanding
Section 6(a), the Bank may not terminate Executive for Just Cause unless and until there shall have been delivered to him
a Notice of Termination which shall include a copy of a resolution duly adopted by the affirmative vote of not less than a majority
of the entire membership of the Board of Directors at a meeting of the Board of Directors called and held for that purpose, finding
that in the good faith opinion of the Board of Directors, Executive was guilty of conduct justifying Termination for Just Cause.
Executive shall not have the right to receive compensation or other benefits for any period after Termination for Just Cause. During
the period beginning on the date of the Notice of Termination for Just Cause pursuant to Section 6 hereof through the Date
of Termination, any unvested stock options and related limited rights granted to Executive under any stock option plan shall not
be exercisable nor shall any unvested awards granted to Executive under any stock benefit plan of the Bank or any subsidiary or
affiliate thereof, vest. At the Date of Termination, any such unvested stock options and related limited rights and any such unvested
awards shall become null and void and shall not be exercisable by or delivered to Executive at any time subsequent to the Termination
for Just Cause. Executive shall not, as a result of Termination for Just Cause, forfeit any rights to compensation or benefits,
including benefits under qualified or non-qualified retirement or deferred compensation plans or programs, earned and vested as
of the date of termination.

 

		7.	TERMINATION FOR DISABILITY OR DEATH

 

(a)          The
Bank or Executive may terminate Executive’s employment after having established Executive’s Disability. For purposes
of this Agreement, “Disability” means a physical or mental infirmity that impairs Executive’s ability to substantially
perform his duties under this Agreement and that results in Executive’s becoming eligible for long-term disability benefits
under a long-term disability plan of the Bank (or, if the Bank has no such plan in effect, that impairs Executive’s ability
to substantially perform his duties under this Agreement for a period of one hundred eighty (180) consecutive days), provided,
however, that in order to receive the payments from the Bank under Section 7(b) of this Agreement, Executive’s “Disability”
shall also satisfy the requirements of Code Section 409A. The Board of Directors shall determine in good faith, based upon competent
medical advice and other factors that they reasonably believe to be relevant, whether or not Executive is and continues to be disabled
for purposes of this Agreement. As a condition to any benefits, the Board of Directors may require Executive to

 

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submit to such physical
or mental evaluations and tests as it deems reasonably appropriate, at the Bank’s expense.

 

(b)          In
the event of Disability, Executive’s obligation to perform services under this Agreement will terminate. In the event of
such termination, Executive shall be entitled to receive benefits under any disability program sponsored by the Bank.

 

(c)          In
the event of Executive’s death during the term of this Agreement, his estate, legal representatives or named beneficiary
or beneficiaries (as directed by Executive in writing) shall be paid Executive’s Base Salary, as defined in Section 3(a),
at the rate in effect at the time of Executive’s death through the end of the calendar month in which Executive’s death
occurs, and the Bank will continue to provide Executive’s family the same medical, dental, and other health benefits that
were provided by the Bank to Executive’s family immediately prior to Executive’s death, on the same terms, including
cost, as if Executive were actively employed by the Bank, except to the extent the terms (including cost) of such benefits are
changed in their application to all continuing employees of the Bank, such coverage to continue for a period of one (1) year after
the date of Executive’s death. If the Bank cannot provide the benefits set forth in this paragraph because Executive is no
longer an employee, applicable rules and regulations prohibit the benefits in the manner contemplated, or it would subject the
Bank to penalties, then the Bank shall pay Executive’s family a cash lump sum payment reasonably estimated to be equal to
the value of the benefits or the value of the remaining benefits at the time of the determination. The cash payment shall be made
in a lump sum within thirty (30) days after the later of Executive’s date of death or the effective date of the rules or
regulations prohibiting the benefits or subjecting the Bank to penalties.

 

		8.	TERMINATION UPON RETIREMENT

 

Termination of Executive’s
employment based on “Retirement” shall mean termination of Executive’s employment by the Bank on or after age
65, Executive’s voluntary termination at any time after Executive reaches age 75, or retirement at any time as agreed upon
by the Board of Directors and Executive. Upon termination of Executive based on Retirement, no amounts or benefits shall be due
Executive under this Agreement, and Executive shall be entitled to all benefits under any retirement plan of the Bank and other
plans to which Executive is a party, or in accordance with any other retirement arrangements approved by the Board of Directors.

 

		9.	NOTICE

 

(a)          Any
notice required under this Agreement shall be in writing and hand-delivered to the other party. Any termination by the Bank or
by Executive shall be communicated by Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice
of Termination” shall mean a written notice which shall indicate the specific termination provision in this Agreement relied
upon.

 

(b)          “Date
of Termination” shall mean (i) if Executive’s employment is terminated for Disability, thirty (30) days after a Notice
of Termination is given (provided that he shall not have returned to the performance of his duties on a full-time basis during
the thirty (30) day period), and (ii) if his employment is terminated for any other reason, the date specified in the Notice of

 

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Termination, provided
however, in either case, the “Date of Termination” shall not occur prior to the date on which Executive has a “Separation
from Service” within the meaning of Code Section 409A.

 

(c)          If
the party receiving a Notice of Termination desires to dispute or contest the basis or reasons for termination, the party receiving
the Notice of Termination must notify the other party within thirty (30) days after receiving the Notice of Termination that the
a dispute exists, and shall pursue the resolution of the dispute in good faith and with reasonable diligence pursuant to Section 20
of this Agreement. During the pendency of any dispute, neither the Bank shall be obligated to pay Executive compensation or other
payments beyond the Date of Termination.

 

		10.	POST-TERMINATION OBLIGATIONS

 

Executive shall, upon
reasonable notice, furnish any information and assistance honestly and in good faith to the Bank as may reasonably be required
by the Bank in connection with any litigation in which it or any of its subsidiaries or affiliates is, or may become, a party.
All payments and benefits to Executive under this Agreement shall be subject to Executive’s compliance with this Section
10 for one (1) full year after the earlier of the expiration of this Agreement or termination of Executive’s employment with
the Bank.

 

		11.	NON-COMPETITION AND NON-DISCLOSURE

 

(a)          As
a material inducement of the Bank to enter into this Agreement, upon any termination of Executive’s employment hereunder
pursuant to the terms of this Agreement, other than a termination of Executive’s employment under Section 5(a)(iii)
of this Agreement or a termination for Just Cause, Executive agrees not to compete with the Bank or any affiliate of the Bank (collectively
said entities are referred to as the “Bank” for purposes of this Section 11) for a period of twelve (12) months following
such termination within a thirty-five (35) mile radius of the main office of the Bank. Executive agrees that during this period
and within a thirty-five (35) mile radius of the main office of the Bank, Executive shall not work for or advise, consult or otherwise
serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business
activities of the Bank. Executive further agrees that for a period of twelve (12) months following any termination of employment,
he shall not directly or indirectly, solicit, hire, or entice any of the following persons or entities to cease, terminate, or
reduce any relationship with the Bank or to divert any business from the Bank: (i) any person who was an employee of the Bank during
the term of this Agreement; or (ii) any customer or client of the Bank. Further, Executive will not directly or indirectly disclose
the names, addresses, telephone numbers, compensation, or other arrangements between the Bank and any person or entity described
in (a)(i) and (a)(ii) of this Section 11. The parties hereto, recognizing that irreparable injury will result to the Bank, its
business and property in the event of Executive’s breach of this Section 11(a), agree that in the event of any such breach
by Executive, the Bank will be entitled, in addition to any other remedies and damages available, to an injunction to restrain
the violation hereof by Executive, Executive’s partners, agents, servants, employees and all persons acting for or under
the direction of Executive. Nothing herein will be construed as prohibiting the Bank from pursuing any other remedies available
to the Bank for such breach or threatened breach, including the recovery of damages from Executive.

 

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(b)          Executive
recognizes and acknowledges that the knowledge of the business activities, plans for business activities, and all other proprietary
information of the Bank as it may exist from time to time, are valuable, special and unique assets of the business of the Bank.
Executive will not, during or after the term of his employment, disclose any knowledge of the past, present, planned or considered
business activities or any other similar proprietary information of the Bank to any person, firm, corporation, or other entity
for any reason or purpose whatsoever unless expressly authorized by the Board of Directors or required by law. Notwithstanding
the foregoing, Executive may disclose any knowledge of banking, financial and/or economic principles, concepts or ideas which are
not solely and exclusively derived from the business plans and activities of the Bank. Further, Executive may disclose information
regarding the business activities of the Bank to any bank regulator having regulatory jurisdiction over the activities of the Bank,
pursuant to a formal regulatory request. In the event of a breach or threatened breach by Executive of the provisions of this Section
11, the Bank will be entitled to an injunction restraining Executive from disclosing, in whole or in part, the knowledge of the
past, present, planned or considered business activities of the Bank, or any other similar proprietary information, or from rendering
any services to any person, firm, corporation, or other entity to whom such knowledge, in whole or in part, has been disclosed
or is threatened to be disclosed. Nothing herein will be construed as prohibiting the Bank from pursuing any other remedies available
to the Bank for such breach or threatened breach, including the recovery of damages from Executive.

 

(c)          The
provisions of this Section 11 are intended to protect the business, operations and assets of the Bank, and are a material inducement
to the Bank to enter into this Agreement. Executive acknowledges that the provisions of this Section 11 are an essential part of
this Agreement and are reasonably necessary for the protection of the business, operations and assets of the Bank.

 

		12.	SOURCE OF PAYMENTS

 

All payments provided
in this Agreement shall be timely paid in cash or check from the general funds of the Bank.

 

		13.	EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS

 

This Agreement contains
the entire understanding between the parties hereto and supersedes any prior employment agreement between the Bank or any predecessor
of the Bank and Executive, except that this Agreement shall not affect or operate to reduce any benefit, compensation, tax indemnification
or other provision inuring to the benefit of Executive under any agreement between Executive and the Bank. No provision of this
Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits than those available to him without
reference to this Agreement.

 

		14.	NO ATTACHMENT

 

(a)          Except
as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation,
sale, assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process or assignment
by

 

    	 	11	 

     

    

 

operation of law, and
any attempt, voluntary or involuntary, to effect any such action shall be null, void, and of no effect.

 

(b)          This
Agreement shall be binding upon, and inure to the benefit of, Executive and the Bank and their respective successors and assigns.

 

		15.	MODIFICATION AND WAIVER

 

(a)          This
Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto.

 

(b)          No
term or condition of this Agreement shall be deemed to have been waived, nor shall there be any estoppel against the enforcement
of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No written
waiver shall be deemed a continuing waiver unless specifically stated therein, and each waiver shall operate only as to the specific
term or condition waived and shall not constitute a waiver of such term or condition for the future as to any act other than that
specifically waived.

 

		16.	REQUIRED PROVISIONS

 

(a)          The
Bank may terminate Executive’s employment at any time, but any termination by the Board of Directors other than Termination
for Just Cause as defined in Section 5 of this Agreement shall not prejudice Executive’s right to compensation or other benefits
under this Agreement. Executive shall have no right to receive compensation or other benefits for any period after Termination
for Just Cause.

 

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

 

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

 

(d)          If
the Bank is in default as defined in Section 3(x)(1) [12 USC §1813(x)(1)] of the FDI Act, all obligations of the Bank under
this Agreement shall terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting
parties.

 

(e)          All
obligations under this Agreement shall be terminated, except to the extent determined that continuation of this Agreement is necessary
for the continued operation of the Bank, (i) by the Comptroller of the Currency (the “Comptroller”) or his or her designee,
at the

 

    	 	12	 

     

    

 

time the FDIC enters
into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) [12 USC §1823(c)]
of the FDI Act; or (ii) by the Comptroller or his or her designee at the time the Comptroller or his or her designee approves
a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the Comptroller to
be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such
action.

 

(f)          Any
payments made to Executive pursuant to this Agreement or otherwise are subject to and conditioned upon compliance with 12 U.S.C.
Section 1828(k) and any rules and regulations promulgated thereunder, including 12 C.F.R. Part 359, and to the extent applicable,
12 C.F.R. §563.39.

 

(g)          Notwithstanding
anything else in this Agreement to the contrary, Executive’s employment shall not be deemed to have been terminated unless
and until Executive has a Separation from Service within the meaning of Code Section 409A. For purposes of this Agreement, a “Separation
from Service” shall have occurred if the Bank and Executive reasonably anticipate that either no further services will be
performed by Executive after the date of termination (whether as an employee or as an independent contractor) or the level of further
services performed is less than fifty (50) percent of the average level of bona fide services in the thirty-six (36) months immediately
preceding the termination. For all purposes hereunder, the definition of Separation from Service shall be interpreted consistent
with Treasury Regulation Section 1.409A-1(h)(ii).

 

		17.	SEVERABILITY

 

If, for any reason,
any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provisions
of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the
full extent consistent with law continue in full force and effect.

 

		18.	HEADINGS FOR REFERENCE ONLY

 

The headings of sections
and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any
of the provisions of this Agreement.

 

		19.	GOVERNING LAW

 

This Agreement shall
be governed by the laws of the State of Ohio, without regard to its conflict of law principles, unless superseded by federal law
or otherwise specified herein.

 

		20.	ARBITRATION

 

Any dispute or controversy
arising under or in connection with this Agreement shall be settled exclusively by binding arbitration, as an alternative to civil
litigation and without any trial by jury to resolve such claims, conducted by a single arbitrator sitting in a location selected
by Executive and the Bank within fifty (50) miles from the main office of the Bank, in accordance with the rules of the American
Arbitration Bank’s National Rules for the Resolution of

 

    	 	13	 

     

    

 

Employment Disputes (“National
Rules”) then in effect. The Bank shall provide a list of three or more arbitrators to Executive from which Executive shall
select the arbitrator. If the parties are unable to agree within fifteen (15) days from the date the Bank presents the list to
Executive, the arbitrator shall be appointed for them from a panel of arbitrators selected in accordance with the National Rules.
Judgment may be entered on the arbitrator’s award in any court having jurisdiction.

 

		21.	PAYMENT OF COSTS AND LEGAL FEES AND REINSTATEMENT OF BENEFITS

 

In the event any dispute
or controversy arising under or in connection with Executive’s termination is resolved in favor of Executive, whether by
judgment, arbitration or settlement, Executive shall be entitled to the payment of: (i) all legal fees incurred by Executive in
resolving the dispute or controversy; (ii) any back-pay, including salary, bonuses and any other cash compensation, fringe benefits
and any compensation and benefits due Executive under this Agreement; and (iii) any other compensation otherwise due Executive
as a result of a breach of this Agreement by the Bank. In the event any dispute or controversy arising under or in connection with
Executive’s termination is resolved in favor of the Bank, whether by judgment, arbitration or settlement, each party shall
be responsible for its own legal fees incurred in resolving such dispute or controversy.

 

		22.	INDEMNIFICATION

 

The Bank shall provide
Executive (including his heirs, executors and administrators) with coverage under a standard directors’ and officers’
liability insurance policy at its expense. The Bank shall indemnify Executive (and his heirs, executors and administrators) to
the fullest extent permitted under its Articles of Incorporation, Bylaws and applicable law against all expenses and liabilities
reasonably incurred by him in connection with or arising out of any action, suit or proceeding in which he may be involved by reason
of his having been a director or officer of the Bank (whether or not he continues to be a director or officer at the time of incurring
the expenses or liabilities), the expenses and liabilities to include, but not be limited to, advancement of legal fees and expenses,
judgments, court costs and attorneys’ fees and the cost of reasonable settlements. Any such indemnification shall be made
consistent with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. §1828(k), and the regulations issued thereunder
in 12 C.F.R. Part 359.

 

		23.	SUCCESSOR TO THE BANK

 

The Bank shall require
any successor or assignee, whether direct or indirect, by purchase, merger, consolidation or otherwise, to all or substantially
all the business or assets of the Bank, expressly and unconditionally to assume and agree to perform the Bank’s obligations
under this Agreement, in the same manner and to the same extent that the Bank would be required to perform if no such succession
or assignment had taken place.

 

		24.	NON WAIVER

 

The failure of one
party to insist upon or enforce strict performance by the others of any provision of this Agreement or to exercise any right, remedy
or provision of this Agreement will

 

    	 	14	 

     

    

 

not be interpreted or
construed as a waiver or relinquishment to any extent of such party’s right to enforce or rely upon same in that or any other
instance.

 

IN WITNESS WHEREOF
the Bank and Executive have signed (or caused to be signed) this Agreement this 8th day of September,
2016.

 

	Attest:	 	COMMUNITY SAVINGS
	 	 	 	 
	/s/ David Miller	 	By:	/s/ Michael Schott
	Secretary	 	Title: Chairman of the Board of Directors
	 	 	 	 
	Attest:	 	EXECUTIVE
	 	 	 	 
	/s/ David Miller	 	/s/ Alvin B. Parmiter
	Secretary	 	Alvin B. Parmiter

 

    	 	15Exhibit 10.2

 

FORM OF

 

COMMUNITY SAVINGS

SALARY CONTINUATION AGREEMENT

FOR

ALVIN B. PARMITER

 

THIS SALARY CONTINUATION
PLAN FOR ALVIN B. PARMITER (the “Plan”) is effective as of [date], and is entered into by Community
Savings (the “Bank”) and Alvin B. Parmiter (“Executive”). For purposes of this Plan, the term “the
Company” shall mean Community Savings Bancorp, Inc.

 

WHEREAS, the purpose
of the Plan is to provide additional retirement benefits to Executive, who, as a member of senior management, has contributed significantly
to the success of the Bank, and whose continued services are vital to the Bank’s continued growth and success; and

 

WHEREAS, this Plan
is intended to be an unfunded, non-qualified deferred compensation plan that complies with Sections 451 and 409A of the Internal
Revenue Code of 1986, as amended (the “Code”), and the regulations thereunder and is also intended to be a “top
hat” pension plan within the meaning of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

 

ARTICLE I

DEFINITIONS

 

When used herein, the following
words and phrases shall have the meanings below unless the context clearly indicates otherwise:

 

		1.1	“Accrued Benefit” means, as of any date, the liability that should be accrued by the
Bank under generally accepted accounting principles (“GAAP”) to reflect the Bank’s obligation to Executive under
the Plan.

 

		1.2	“Administrator” means the Bank and/or its Board of Directors, provided, however, the
Board of Directors can designate a committee of the Board of Directors (“Committee”) as the Administrator.

 

		1.3	“Bank” means Community Savings and any successor to its business and/or assets which
assumes and agrees to perform the duties and obligations under this Plan by operation of law or otherwise.

 

		1.4	“Beneficiary” means the person or persons (and, if applicable, their heirs) designated
by Executive as the beneficiary to whom the deceased Executive’s benefits are payable. The beneficiary designation shall
be made on the form attached hereto as Exhibit A and filed with the Administrator. If no Beneficiary is so designated, then Executive’s
Spouse, if living, will be deemed the Beneficiary. If Executive’s Spouse is not living at the time of Executive’s death
or dies prior to payment to her of the Survivor’s Benefit, then the

 

     

     

    

 

Children of Executive
will be deemed the Beneficiaries and will take on a per stirpes basis. If there are no living Children, then Executive’s
estate will be deemed the Beneficiary. For this purpose, the term “Children” means Executive’s children, or the
issue of any deceased Children, then living at the time payments are due the Children under this Plan. The term “Children”
shall include both natural and adopted children, as well as stepchildren. Also, for this purpose, the term “Spouse”
means the individual to whom Executive is legally married at the time of Executive’s death, provided, however, that the term
“Spouse” shall not refer to an individual to whom Executive is legally married at the time of death if Executive and
the individual have entered into a formal separation agreement (provided that the separation agreement does not provide otherwise
or state that the individual is entitled to a portion of the benefits hereunder) or initiated divorce proceedings.

 

		1.5	“Benefit Eligibility Date” shall be the date on which Executive is entitled to commencement
of benefits under the Plan.

 

		(a)	In the event benefits become payable on account of Executive’s Separation from Service on
or after his Normal Retirement Age, the Benefit Eligibility Date shall be the first day of the second month following Executive’s
Separation from Service, subject to Section 1.5(f) below.

 

		(b)	In the event the Accrued Benefit becomes payable to Executive in the event of Executive’s
Separation from Service prior to his Normal Retirement Age, the Benefit Eligibility Date shall be the first day of the second month
following the Separation from Service, subject to Section 1.5(f) below.

 

		(c)	In the event the Survivor’s Benefit becomes payable on account of Executive’s death,
the Benefit Eligibility Date shall be the first day of the second month following Executive’s death.

 

		(d)	In the event Executive suffers a Disability while employed by the Bank, the Benefit Eligibility
Date shall be the first day of the month following the date Executive attains his Normal Retirement Age.

 

		(e)	In the event a benefit becomes payable pursuant to Section 2.5(b) of the Plan on account of Executive’s
Separation from Service (other than for Cause) coincident with or within two (2) years following a Change in Control and prior
to his Normal Retirement Age, the Benefit Eligibility Date shall be the first day of the second month following Separation from
Service, subject to Section 1.5(f) below.

 

		(f)	Notwithstanding anything in this Section 1.5 to the contrary, if Executive is a Specified Employee
of a publicly-traded company and the payment(s) are due to Executive’s Separation from Service (other than due to death),
then the Benefit Eligibility Date shall be the first day of the seventh month following Executive’s Separation from Service
(if later than the date otherwise specified as the Benefit Eligibility Date). The payments that otherwise would have been received
from

 

    	 	2	 

     

    

 

the date of Separation from Service
to the Specified Employee’s Benefit Eligibility Date shall be aggregated and shall be paid on the same date as the initial
payment (e.g., on the first day of the seventh month) and all remaining payments shall be made as otherwise scheduled. For purposes
of Code Section 409A, the payments due hereunder shall be deemed a single payment.

 

		1.6	“Board of Directors” shall mean the Board of Directors of the Bank.

 

		1.7	“Cause” shall mean Executive’s (i) personal dishonesty; (ii) willful misconduct;
(iii) incompetence; (iv) breach of fiduciary duty involving personal profit; (v) intentional failure to perform his stated duties;
or (vi) willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or final cease-and-desist
order.

 

For purposes of this paragraph, no
act or failure to act on the part of Executive shall be considered “willful” unless done, or omitted to be done, by
Executive not in good faith and without reasonable belief that Executive’s action or omission was in the best interest of
the Bank.

 

		1.8	“Change in Control” shall mean any of the following events: (i) a change in the ownership
of the Bank of the Company; (ii) a change in the effective control of the Bank of the Company; or (iii) a change in the ownership
of a substantial portion of the assets of the Bank of the Company, as described below:

 

		(a)	A change in ownership occurs on the date that any one person, or more than one person acting as
a group (as defined in Treasury Regulations section 1.409A-3(i)(5)(v)(B)), acquires ownership of stock of the Bank or the Company
that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting
power of the stock of the Bank or the Company.

 

		(b)	A change in the effective control of the Bank or the Company occurs on the date that either (A)
any one person, or more than one person acting as a group (as defined in Treasury Regulations section 1.409A-3(i)(5)(vi)(B)) acquires
(or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership
of stock of the Bank or the Company possessing 30% or more of the total voting power of the stock of the Bank or the Company, or
(B) a majority of the members of the Board of Directors of the Bank or the Company is replaced during any 12-month period by directors
whose appointment or election is not endorsed by a majority of the members of the Board of Directors of the Bank or the Corporation
prior to the date of the appointment or election, provided that this subsection is inapplicable where a majority shareholder of
the corporation is another corporation.

 

		(c)	A change in the ownership of a substantial portion of the assets
of the Bank or the Company occurs on the date that any one person or more than one person acting as a group (as defined in Treasury
Regulations section 1.409A-3(i)(5)(vii)(C)) 

 

    	 	3	 

     

    

 

acquires
(or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets
from the Bank or the Company that have a total gross fair market value equal to or more than 40% of the total gross fair market
value of all of the assets of the Bank or the Company. For purposes of this Agreement, “gross fair market value” means
the value of the assets of the Bank or the Company, or the value of the assets being disposed of, without regard to any liabilities
associated with such assets. There is no Change in Control event under this paragraph (c) when there is a transfer to an entity
that is controlled by the shareholders of the transferring corporation immediately after the transfer.

 

		(d)	For all purposes hereunder, the definition of Change in Control shall be construed to be consistent
with the requirements of Treasury Regulations section 1.409A-3(i)(5), except to the extent that such regulations are superseded
by subsequent guidance.

 

		1.9	“Disability” means, with respect to Executive, that,
in the good faith determination of the Board of Directors, Executive is (i) unable to engage
in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected
to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) by reason of any medically
determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous
period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident
and health plan covering employees of the Bank, or (iii) determined to be totally disabled by the Social Security Administration.

 

		1.10	“Executive” means Alvin B. Parmiter, who has been selected and approved by the Board
of Directors to participate in the Plan.

 

		1.11	“Good Reason” shall mean: (i) a material diminution in Executive’s base salary;
(ii) a material diminution in Executive’s authority, duties, or responsibilities; or (iii) a material change in the geographic
location at which Executive must perform his duties to the Bank; provided, however, that any such occurrence shall not be deemed
a “Good Reason” if Executive consents thereto. A termination by Executive shall not constitute Good Reason unless Executive
shall first have delivered to the Bank written notice setting forth with specificity the occurrence deemed to give rise to a right
to terminate for Good Reason (which notice must be given no later than 90 days after the initial occurrence of such event), and
the Bank has failed within 60 days of such notice to correct the circumstance that would otherwise constitute Good Reason.

 

		1.12	“Involuntary Separation from Service” is a Separation from Service that is not voluntary,
other than a Separation from Service for Cause or due to death, provided, however, that an Involuntary Separation from Service
includes a resignation for Good Reason.

 

		1.13	“Normal Retirement Age” means age 65.

 

    	 	4	 

     

    

 

		1.14	“Payout Period” means the time frame during which the benefits payable hereunder shall
be distributed. The Payout Period shall be for a period of fifteen (15) years, commencing on Executive’s Benefit Eligibility
Date specified in Section 1.5 of the Plan.

 

		1.15	“Present Value” means the present value, as of a
specified date, of a stream of payments payable to Executive or his Beneficiary. For these purposes, Present Value shall be determined
each calendar year by applying a discount factor equal to the discount rate determined as of the immediately preceding December
under the Citigroup Pension Liability Index (“CPLI”) or such other rate as determined by the Committee from time to
time and set forth in a written resolution. 

 

		1.16	“Separation from Service” (or “Separated from Service”) means Executive’s
retirement or other termination of employment with the Bank within the meaning of Code Section 409A. No Separation from Service
shall be deemed to occur due to military leave, sick leave or other bona fide leave of absence if the period of the leave does
not exceed six months or, if longer, so long as Executive’s right to reemployment is provided by law or contract. If the
leave exceeds six months and Executive’s right to reemployment is not provided by law or by contract, then Executive shall
have a Separation from Service on the first date immediately following such six-month period.

 

Whether a Separation from Service
has occurred is determined based on whether the facts and circumstances indicate that the Bank and Executive reasonably anticipated
that no further services would be performed after a certain date or that the level of bona fide services Executive would
perform after that date (whether as an employee or as an independent contractor) would permanently decrease to less than 50% of
the average level of bona fide services performed over the immediately preceding 36 months (or the lesser period of time
in which Executive performed services for the Bank). The determination of whether Executive has had a Separation from Service shall
be made by applying the presumptions set forth in the Treasury Regulations under Code Section 409A.

 

		1.17	“Specified Employee” means an individual who also satisfies the definition of “key
employee” as that term is defined in Code Section 416(i) (without regard to paragraph (5) thereof). In the event Executive
is a Specified Employee, no distribution shall be made to such Executive upon Separation from Service (other than due to death
or Disability) prior to the date which is six (6) months following Separation from Service.

 

		1.18	“Survivor’s Benefit” means the benefit payable to Executive’s Beneficiary
following his death in accordance with Section 2.3 of the Plan.

 

		1.19	“Unforseeable Emergency” means a severe financial hardship to Executive resulting from
an illness or accident of Executive, Executive’s spouse, dependent (as defined in Code Section 152 without regard to section
152(b)(1), (b)(2) and (d)(1)(B)) or beneficiary; loss of Executive’s property due to casualty (including the need to rebuild
a home following damage to a home not otherwise covered by insurance); or other similar extraordinary and unforeseeable circumstances
arising as a result of events beyond the control of the

 

    	 	5	 

     

    

 

service provider.
Following are examples of items that will qualify as an Unforseeable Emergency: (i) the imminent foreclosure of or eviction from
Executive’s primary residence; (ii) the need to pay for medical expenses, including nonrefundable deductibles, as well as
the costs of prescription drug medication; (iii) the need to pay for the funeral expenses of a spouse, a beneficiary or a dependent.
The purchase of a home and payment of college tuition are not Unforseeable Emergencies. Whether Executive has an Unforseeable Emergency
within the meaning of Code Section 409A is to be determined based on the relevant facts and circumstances, but in any case, a distribution
on account of an Unforseeable Emergency may not be made to the extent that such emergency is or may be relieved through reimbursement
or compensation from insurance or otherwise, by liquidation of Executive’s assets, to the extent the liquidation of such
assets would not cause severe financial hardship.

 

ARTICLE II

BENEFITS

 

		2.1	Benefit on Separation from Service on or after Normal
Retirement Age.

 

If Executive experiences a Separation
from Service after reaching his Normal Retirement Age, Executive shall be entitled to an annual benefit equal to $50,000. The benefit
under this Section 2.1 shall commence on Executive’s Benefit Eligibility Date specified in Section 1.5(a) of the Plan and
shall be payable in monthly installments over the Payout Period specified in Section 1.14 of the Plan.

 

		2.2	Separation from Service Before Normal Retirement Age.

 

If Executive experiences a Separation
from Service prior to the attainment of his Normal Retirement Age (other than due to Cause, death or Disability), Executive shall
be entitled to the Accrued Benefit payable commencing on the Benefit Eligibility Date specified in Section 1.5(b) of the Plan and
payable in annual installments over the Payout Period specified in Section 1.14 of the Plan.

 

		2.3	Survivor’s Benefit.

 

		(a)	If Executive dies prior to Separation from Service, Executive’s Beneficiary shall be entitled
to the Survivor’s Benefit. The Survivor’s Benefit shall equal the Accrued Benefit. The Survivor’s Benefit shall
commence on the Benefit Eligibility Date in Section 1.5(c) and shall be payable over the
Payout Period specified in Section 1.14 of the Plan.

 

		(b)	If Executive dies following a Separation from Service after reaching his Normal Retirement Age
but prior to the commencement of benefit payments to Executive, Executive’s Beneficiary shall be entitled to the benefit
payments that would have been made to Executive at the same time and in the same amounts they would have been paid to Executive
had Executive survived for a period of fifteen (15) years (15 annual installments). If Executive dies following a Separation of
Service and after the commencement of benefit payments, Executive’s

 

    	 	6	 

     

    

 

Beneficiary shall be entitled to the
remaining benefit payments at the same time and in the same amounts they would have been paid to Executive had Executive survived
for fifteen (15) years following his Separation from Service and received 15 annual installments. For the avoidance of doubt, if
Executive had received 15 annual installments at the time of his death, his Beneficiary will not be entitled to any benefit payments
following the death of Executive. If Executive had received 10 annual installments at the time of his death, his Beneficiary would
be entitled to 5 annual installments following the death of Executive. No benefits will be paid from the Plan following the death
of Executive’s Beneficiary regardless of whether the death occurs before the payment of 15 annual installments.

 

		2.4	Benefit on Disability. If Executive suffers a Disability prior to his Normal Retirement
Age, Executive shall be entitled to receive the benefit due under Section 2.1 of the Plan, as if Executive has attained his Normal
Retirement Age, commencing on the Benefit Eligibility Date set forth in Section 1.5(d) of the Plan and paid over the Payout Period
specified in Section 1.14 of the Plan.

 

		2.5	Benefit Payable in Connection with a Change in Control.

 

		(a)	In the event a Change in Control, Executive shall be entitled to the benefit that otherwise would
be due under Section 2.1 of the Plan as if Executive has attained his Normal Retirement Age. Unless otherwise made pursuant to
paragraph (b) of this Section 2.5, the benefit shall be paid in accordance with the time and form provided for in Sections 2.1,
2.2, 2.3 or 2.4, as applicable.

 

		(b)	If a Change in Control occurs followed by Executive’s Involuntary Separation from Service
or resigns for Good Reason within two (2) years of the Change in Control and prior to Executive’s Normal Retirement Age,
Executive shall be entitled to the Present Value of the benefit due under Section 2.5(a), payable commencing on the Benefit Eligibility
Date specified in Section 1.5(e) and payable in over the Payout Period specified in Section 1.14 of the Plan.

 

		2.6	Termination for Cause. Notwithstanding any other provision of this Plan to the contrary,
if Executive is terminated for Cause all benefits under this Plan shall be forfeited by Executive and Executive’s participation
in this Plan shall become null and void.

 

		2.7	Benefit Payable due to Unforseeable Emergency. In the event Executive has an Unforseeable
Emergency, Executive may file a written request with the Administrator for a hardship distribution. The request shall set forth
the particulars of the need for the hardship distribution and shall certify that Executive is unable to satisfy the need through
reimbursement or compensation from insurance or otherwise, or by liquidation of Executive’s assets, other than a liquidation
that would itself result in a hardship to Executive. Within thirty (30) days of receipt of the request, the Administrator shall,
based on the facts and circumstances, determine if Executive’s hardship constitutes an Unforseeable Emergency within the
meaning of Code Section 409A. If Executive’s hardship is deemed to be an Unforseeable Emergency, the Administrator shall
make a

 

    	 	7	 

     

    

 

lump sum distribution to Executive
of an amount necessary to satisfy the emergency need (which may include amounts necessary to pay any Federal, state or local income
taxes or penalties reasonably anticipated to result from the distribution). If an Unforseeable Emergency distribution is made,
the Administrator will take into consideration the distribution and will offset the distribution from any payments made to Executive
under Sections 2.1, 2.2, 2.3, 2.4 or 2.5 hereof. The offset will be determined by increasing the lump sum distribution made due
to the Unforseeable Emergency by the discount factor (set forth in Section 1.15) from the date of the Unforseeable Emergency distribution
until the date on which the distributions commence under any other Section in this Article II and then annuitizing the amount so
determined over the Payout Period and subtracting such amount from the benefit then payable.

 

ARTICLE III

BENEFICIARY DESIGNATION

 

Executive shall make an
initial designation of primary and any secondary Beneficiary(ies) upon initial participation in the Plan by completion of a Beneficiary
form substantially in the form attached as Exhibit A, and shall have the right to change the designation, at any subsequent time.
Any Beneficiary designation shall become effective only when receipt thereof is acknowledged in writing by the Administrator.

 

ARTICLE IV

EXECUTIVE’S RIGHT TO ASSETS,

ALIENABILITY AND ASSIGNMENT PROHIBITION

 

At no time shall Executive
be deemed to have any lien, right, title or interest in or to any specific investment or asset of the Bank. The rights of Executive,
any Beneficiary, or any other person claiming through Executive under this Plan, shall be solely those of an unsecured general
creditor of the Bank. Executive, the Beneficiary, or any other person claiming through Executive, shall only have the right to
receive from the Bank those payments so specified under this Plan. Neither Executive nor any Beneficiary under this Plan shall
have any power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify or otherwise encumber in advance
any of the benefits payable hereunder, nor shall any of said benefits be subject to seizure for the payment of any debts, judgments,
alimony or separate maintenance owed by Executive or his Beneficiary, nor be transferable by operation of law in the event of bankruptcy,
insolvency or otherwise.

 

ARTICLE V

ERISA PROVISIONS

 

		5.1	Named Fiduciary and Administrator. The Bank shall be the “Named Fiduciary” and
Administrator of this Plan. As Administrator, the Bank shall be responsible for the management, control and administration of the
Plan as established herein. The Administrator may delegate to others certain aspects of the management and operational responsibilities
of the Plan, including the employment of advisors and the delegation of ministerial duties to qualified individuals.

 

    	 	8	 

     

    

 

		5.2	Claims Procedure and Arbitration. In the event that benefits under this Plan is not paid
to Executive (or to his Beneficiary in the case of Executive’s death) and the claimant(s) feel he or they are entitled to
receive the benefits, then a written claim must be made to the Administrator within sixty (60) days from the date payments are
refused. The Administrator shall review the written claim and, if the claim is denied, in whole or in part, it shall provide in
writing, within thirty (30) days of receipt of such claim, its specific reasons for such denial, reference to the provisions of
this Plan upon which the denial is based, and any additional material or information necessary for such claimants to perfect the
claim. The written notice by the Administrator shall further indicate the additional steps which must be undertaken by claimants
if an additional review of the claim denial is desired.

 

If claimants desire a second review,
they shall notify the Administrator in writing within thirty (30) days of the first claim denial. Claimants may review this Plan
or any documents relating thereto and submit any issues and comments, in writing, they may feel appropriate. In its sole discretion,
the Administrator shall then review the second claim and provide a written decision within thirty (30) days of receipt of such
claim. This decision shall state the specific reasons for the decision and shall include reference to specific provisions of this
Plan upon which the decision is based.

 

No claimant shall
institute any action or proceeding in any state or federal court of law or equity or before any administrative tribunal or arbitrator
for a claim for benefits under the Plan until the claimant has first exhausted the provisions set forth in this Section 5.2.

 

ARTICLE VI

MISCELLANEOUS

 

		6.1	No Effect on Employment Rights. Nothing contained herein will confer upon Executive the
right to be retained in the service of the Bank nor limit the right of the Bank to discharge or otherwise deal with Executive without
regard to the existence of the Plan.

 

		6.2	State Law. The Plan is established under, and will be construed according to, the laws of
the State of Ohio, to the extent such laws are not preempted by ERISA and valid regulations published thereunder or any other federal
law.

 

		6.3	Severability and Interpretation of Provisions. The Bank shall have full power and authority
to interpret, construe and administer this Plan and the Bank’s interpretation and construction thereof and actions thereunder
shall be binding and conclusive on all persons for all purposes. No employee or representative of the Bank shall be liable to any
person for any actions taken or omitted in connection with the interpretation and administration of this Plan unless attributable
to his own willful misconduct or lack of good faith. In the event that any of the provisions of this Plan or portion hereof are
held to be inoperative or invalid by any court of competent jurisdiction, or in the event that any provision is found to violate
Code Section 409A and would subject Executive to additional taxes and interest on the amounts deferred hereunder, or in the
event that any legislation adopted by

 

    	 	9	 

     

    

 

any governmental body having jurisdiction
over the Bank would be retroactively applied to invalidate this Plan or any provision hereof or cause the benefits under this Plan
to be taxable, then: (1) insofar as is reasonable, effect will be given to the intent manifested in the provisions held invalid
or inoperative, and (2) the validity and enforceability of the remaining provisions will not be affected thereby. In the event
that the intent of any provision shall need to be construed in a manner to avoid taxability, this construction shall be made by
the Administrator in a manner that would manifest to the maximum extent possible the original meaning of such provisions.

 

		6.4	Incapacity of Recipient. If a benefit is payable to a minor, to a person declared incompetent,
or to a person incapable of handling the disposition of his property, the Bank may pay such benefit to the guardian, legal representative
or person having the care or custody of such minor, incompetent person or incapable person. The Bank may require proof of incompetence,
minority or guardianship as it may deem appropriate prior to distribution of the benefit. The distribution shall completely discharge
the Bank for all liability with respect to the benefit.

 

		6.5	Unclaimed Benefit. Executive shall keep the Bank informed of his current address and the
current address of his Beneficiaries. If the location of Executive is not made known to the Bank, the Bank shall delay payment
of Executive’s benefit payment(s) until the location of Executive is made known to the Bank; however, the Bank shall only
be obligated to hold the benefit payment(s) for Executive until the expiration of three (3) years. Upon expiration of the three
(3) year period, the Bank may discharge its obligation by payment to Executive’s Beneficiary. If the location of Executive’s
Beneficiary is not known to the Bank, Executive and his Beneficiary(ies) shall thereupon forfeit any rights to the balance, if
any, of any benefits provided for Executive and/or Executive’s Beneficiary under this Plan.

 

		6.6	Limitations on Liability. Notwithstanding any of the preceding provisions of the Plan, no
individual acting as an employee or agent of the Bank, or as a member of the Board of Directors shall be personally liable to Executive
or any other person for any claim, loss, liability or expense incurred in connection with the Plan.

 

		6.7	Gender. Whenever in this Plan words are used in the masculine or neuter gender, they shall
be read and construed as in the masculine, feminine or neuter gender, whenever they should so apply.

 

		6.8	Effect on Other Corporate Benefit Plans. Nothing contained in this Plan shall affect the
right of Executive to participate in or be covered by any qualified or nonqualified pension, profit sharing, group, bonus or other
supplemental compensation or fringe benefit agreement constituting a part of the Bank’s existing or future compensation structure.

 

		6.9	Inurement. This Plan shall be binding upon and shall inure to the benefit of the Bank, its
successors and assigns, and Executive, his successors, heirs, executors, administrators, and Beneficiaries.

 

    	 	10	 

     

    

 

		6.10	Acceleration of Payments. Except as specifically permitted
under this Section 6.10 or in other sections of this Plan, no acceleration of the time or schedule of any payment may be made under
this Plan. Notwithstanding the foregoing, payments may be accelerated hereunder by the Bank, in accordance with the provisions
of Treasury Regulation Section 1.409A-3(j)(4) and any subsequent guidance issued by the United States Treasury Department. Accordingly,
payments may be accelerated, in accordance with requirements and conditions of the Treasury Regulations (or subsequent guidance)
in the following circumstances: (i) as a result of certain domestic relations orders; (ii) in compliance with ethics agreements
with the Federal Government; (iii) in compliance with ethics laws or conflicts of interest laws; (iv) in limited cash-outs (but
not in excess of the limit under Code Section 402(g)(1)(B)); (v) in the case of certain distributions to avoid a non-allocation
year under Code Section 409(p); (vi) to apply certain offsets in satisfaction of a debt of Executive to the Bank; (vii) in satisfaction
of certain bona fide disputes between Executive and the Bank; or (viii) for any other purpose set forth in the Treasury
Regulations and subsequent guidance.

 

		6.11	Headings. Headings and sub-headings in this Plan are inserted for reference and convenience
only and shall not be deemed a part of this Plan.

 

		6.12	12 U.S.C. §1828(k). Any payments made to Executive pursuant to this Plan or otherwise
are subject to and conditioned upon compliance with 12 U.S.C. § 1828(k) or any regulations promulgated thereunder.

 

		6.13	Payment of Employment and Code Section 409A Taxes. Any distribution under this Plan shall
be reduced by the amount of any taxes required to be withheld from the distribution. This Plan shall permit the acceleration of
the time or schedule of a payment to pay employment-related taxes as permitted under Treasury Regulation Section 1.409A-3(j) or
to pay any taxes that may become due at any time that the arrangement fails to meet the requirements of Code Section 409A and the
regulations and other guidance promulgated thereunder. In the latter case, such payments shall not exceed the amount required to
be included in income as the result of the failure to comply with the requirements of Code Section 409A.

 

		6.14	Successors to the Bank. The Bank, as applicable, will require any successor (whether direct
or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the
Bank to assume expressly and agree to perform the duties and obligations under this Plan in the same manner and to the same extent
as the Bank would be required to perform it if no such succession had taken place.

 

		6.15	Legal Fees. In the event Executive retains legal counsel to enforce any of the terms of
the Plan, the Bank will pay his legal fees and related expenses reasonably incurred by him, but only if Executive prevails in an
action seeking legal and/or equitable relief against the Bank.

 

    	 	11	 

     

    

 

ARTICLE VII

AMENDMENT/TERMINATION

 

		7.1	Amendment. This Plan may be amended or modified at any time, in whole or part, with the
mutual written consent of Executive and the Bank. Notwithstanding anything to the contrary herein, the Plan may be amended without
Executive’s consent to the extent necessary to comply with existing tax laws or changes to existing tax laws or to amend
or terminate the Plan in accordance with Section 7.2 below.

 

		7.2	Termination of Plan.

 

		(a)	Partial Termination. The Board of Directors, at its discretion, may partially terminate
the Plan by freezing future accruals if, in its sole judgment, the tax, accounting, or other effects of the continuance of the
Plan, or potential payments thereunder, would not be in the best interests of the Bank; provided, however, the Plan may not be
partially terminated following a Change in Control without Executive’s consent.

 

		(b)	Complete Termination. Subject to the requirements of Code Section 409A, in the event of
complete termination of the Plan, the Plan shall cease to operate and the Bank shall pay out to Executive his benefits as if Executive
had terminated employment as of the effective date of the complete termination. A complete termination of the Plan shall occur
only under the following circumstances and conditions:

 

		(i)	The Board of Directors may terminate the Plan within 12 months of a corporate dissolution taxed
under Code Section 331, or with approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A), provided that the benefit
is included in Executive’s (or his Beneficiary’s) gross income (and paid to Executive or his Beneficiary) in the latest
of (i) the calendar year in which the Plan terminates; (ii) the calendar year in which the amount is no longer subject to a substantial
risk of forfeiture; or (iii) the first calendar year in which the payment is administratively practicable.

 

		(ii)	The Board of Directors may terminate the Plan by Board of Directors action taken months following
a Change in Control, provided that the Plan shall only be treated as terminated if all substantially similar arrangements sponsored
by the Bank are terminated so that Executive and all participants under substantially similar arrangements are required to receive
all amounts payable under the terminated arrangements within 12 months of the date of the termination of the arrangements.

 

		(iii)	The Board of Directors may terminate the Plan at any time provided that (i) the termination does
not occur proximate to a downturn in the financial health of the Bank, (ii) all arrangements sponsored by the Bank that would

 

    	 	12	 

     

    

 

be aggregated
with this Plan under Treasury Regulations Section 1.409A-1(c) if Executive was also covered by any of those other arrangements
are also terminated; (iii) no payments other than payments that would be payable under the terms of the arrangements if the termination
had not occurred are made within 12 months of the termination of the arrangement (e.g., Executive’s benefit); (iv) all payments
are made within 24 months of the termination of the arrangements; and (v) the Bank does not adopt a new arrangement that would
be aggregated with any terminated arrangement under Treasury Regulations Section 1.409A-1(c) if Executive participated in both
arrangements, at any time within three years following the date of termination of the arrangement.

 

ARTICLE VIII

EXECUTION

 

		8.1	Entire Agreement. This Plan sets forth the entire understanding of the Bank and Executive
with respect to the transactions contemplated hereby, and any previous agreements or understandings between them regarding the
subject matter hereof are merged into and superseded by this Plan.

 

		8.2	Execution. This Plan shall be executed in duplicate, each copy of which, when so executed
and delivered, shall be an original, but both copies shall together constitute one and the same instrument.

 

[signature page follows]

 

    	 	13	 

     

    

 

IN WITNESS WHEREOF, the
Bank has caused this Plan to be executed, effective as of the day and date first above written.

 

	ATTEST:	 	COMMUNITY SAVINGS
	 	 	 	 
	 	 	By:	 
	 	 	 	 
	 	 	Title:	 
	 	 	 	 
	Date	 	Date:	 
	 	 	 	 
	ATTEST:	 	EXECUTIVE
	 	 	 	 
	 	 	 
	 	 	 	 
	 	 	 	 
	Date	 	Date:	 

 

    	 	14

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