Document:

EXHIBIT 10.6

                     EMPLOYMENT AGREEMENT OF LISA M. FOWLER

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                              EMPLOYMENT AGREEMENT

      This  Agreement  is made by and between  First Clover Leaf Bank, a federal
savings bank (the "Bank"), with its principal office in Edwardsville,  Illinois,
and Lisa Fowler  ("Executive")  and is effective as of the  effective  date (the
"Effective  Date") of the  "Merger,"  as that term is  defined  in that  certain
Agreement and Plan of Reorganization dated as of February 3, 2006 by and between
First Federal Financial Services,  MHC, First Federal Financial Services,  Inc.,
First  Clover Leaf  Financial  Corp.,  Clover Leaf Bank  ("CLB") and Clover Leaf
Financial  Corp.  ("CLFC")(the  "Merger  Agreement").  References  herein to the
"Company" mean First Clover Leaf Financial  Corp., a Maryland  corporation  that
owns 100% of the common stock of the Bank on the Effective  Date. The Company is
a signatory to this  Agreement for the sole purpose of  guaranteeing  the Bank's
performance hereunder.

      WHEREAS,  Executive has served as an officer of CLB, which was merged with
and into the Bank as of the Effective Date pursuant to the Merger Agreement; and

      WHEREAS,  the Bank wishes to assure itself of the services of Executive as
an officer of the Bank  following  the  Merger for the period  provided  in this
Agreement; and

      WHEREAS,  Executive  agrees that this Agreement  supersedes,  replaces and
terminates  her Change in Control  Agreement  dated as of December 31, 2003 with
CLB and CLFC.

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

1.    POSITION AND RESPONSIBILITIES.

      Executive shall serve as the Senior Vice President - Chief Lending Officer
of the Bank. In this position, Executive shall be responsible for supporting the
Chief  Executive  Officer in areas of  leadership,  direction,  development  and
implementation  of the policies and procedures  for the lending  function of the
Bank.  Executive  shall be responsible  for promoting and developing new lending
business  for  the  Bank.  Executive  shall  be  responsible  for  building  and
maintaining  Bank  relationships  with the  community,  civic  groups  and local
businesses,  and will represent the Bank at related events. Executive shall stay
abreast of regulations and legislation that directly affect the Bank.  Executive
also agrees to serve, if appointed or elected, as an officer and director of any
subsidiary or affiliate of the Bank.

2.    TERM AND DUTIES.

      (a)   The term of this Agreement and the period of Executive's  employment
hereunder  will  begin as of the  Effective  Date and  continue  for a period of
twelve (12) full calendar months thereafter. Commencing on the first anniversary
date  of  this  Agreement  (the  "Anniversary  Date"),  and  continuing  at each
Anniversary  Date  thereafter,  the Agreement shall renew for an additional year
such  that the  remaining  term  shall be  twelve  (12)  full  calendar  months;
provided,  however,  that the Board shall,  at least sixty (60) days before such
Anniversary  Date conduct a comprehensive  performance  evaluation and review of
the Executive for purposes of determining whether to extend this Agreement.  The
Board shall give the  Executive  notice of its decision

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whether or not to renew this  Agreement  at least  thirty (30) days and not more
than sixty (60) days prior to the  Anniversary  Date,  and if written  notice of
non-renewal  is provided to the  Executive  within said time frame,  the term of
this Agreement shall not be extended.

      (b)   During the period of her employment hereunder, except for periods of
absence  occasioned by illness,  reasonable  vacation  periods,  and  reasonable
leaves of absence  approved  by the Chief  Executive  Officer,  Executive  shall
devote substantially all her business time, attention, skill, and efforts to the
faithful  performance of her duties hereunder including  activities and services
related to the  organization,  operation and  management of the Bank;  provided,
however,  that, with the approval of the Board, Executive may serve, or continue
to serve, on the boards of directors of, and hold any other offices or positions
in, business,  social, religious,  charitable or similar organizations which, in
the Board's  judgment,  will not present any conflict of interest with the Bank,
or materially  affect the  performance  of Executive's  duties  pursuant to this
Agreement.  Notwithstanding the preceding sentence,  no approval is required for
the Executive to participate or serve in (i) outside  organizations in which the
Executive is serving as of the Effective  Date;  (ii)  religious or  educational
organizations  which  Executive or Executive's  children may attend from time to
time; or (iii) affiliates of such organizations.

3.    COMPENSATION, BENEFITS AND REIMBURSEMENT.

      (a)   The compensation specified under this Agreement shall constitute the
salary and benefits paid for the duties described in Section 2(b).  Beginning on
the Effective Date, the Bank shall pay Executive as compensation a salary of not
less than  $94,000 per year ("Base  Salary").  Such Base Salary shall be payable
biweekly,  or with such other  frequency as officers and employees are generally
paid.  During the period of this  Agreement,  Executive's  Base Salary  shall be
reviewed  at least  annually.  Such  review  shall  be  conducted  by the  Chief
Executive  Officer,  and the Bank  may  increase,  but not  decrease  (except  a
decrease that is generally applicable to all employees)  Executive's Base Salary
(with any increase in Base Salary to become  "Base  Salary" for purposes of this
Agreement).  In addition to the Base Salary, the Bank shall provide Executive at
no cost to Executive with all such other  benefits as are provided  uniformly to
permanent full-time employees of the Bank. Base Salary shall include any amounts
of compensation  deferred by Executive under  qualified and  nonqualified  plans
maintained by the Bank.

      (b)   Executive  will be entitled to  participate  in or receive  benefits
under any  employee  benefit  plans  including,  but not limited to,  retirement
plans,  supplemental  retirement  plans,  pension plans,  profit-sharing  plans,
health-and-accident  insurance  plans,  medical  coverage or any other  employee
benefit  plan or  arrangement  made  available by the Bank or the Company 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 such
plans  and  arrangements.  Executive  will be  entitled  to  participate  in any
incentive  compensation  and bonus  plans  offered by the Bank or the Company in
which Executive is eligible to participate.  Nothing paid to Executive under any
such plan or arrangement  will be deemed to be in lieu of other  compensation to
which Executive is entitled under this Agreement.

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      (c)   In  addition  to the Base  Salary,  the Bank shall pay or  reimburse
Executive for all reasonable  travel and other reasonable  expenses  incurred by
Executive  performing her obligations  under this Agreement and may provide such
additional  compensation  in such form and such  amounts as the Chief  Executive
Officer may from time to time determine.  The Bank shall reimburse Executive for
her ordinary and necessary business  expenses,  including,  without  limitation,
fees for memberships in such clubs and  organizations as Executive and the Chief
Executive  Officer  shall  mutually  agree are  necessary  and  appropriate  for
business purposes, and travel and entertainment expenses, incurred in connection
with the performance of her duties under this Agreement.

4.    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 4 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 5  (Termination  for Cause) or termination
                  governed  by  Section  6  (termination  due to  Disability  or
                  death); or

            (ii)  Executive's  resignation from the Bank's employ for any of the
                  following reasons:

                  (A)   the  failure to appoint or  reappoint  Executive  to the
                        position set forth under Section 1;

                  (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 thereof described in Section 1;

                  (C)   a  relocation   of   Executive's   principal   place  of
                        employment  by more  than  thirty  (30)  miles  from its
                        location at the Effective Date of this Agreement;

                  (D)   a material  reduction in the benefits and perquisites to
                        Executive  from those being  provided as of the later of
                        the Effective Date or any subsequent Anniversary Date of
                        this Agreement, other than an employee-wide reduction in
                        pay or benefits;

                  (E)   a liquidation or dissolution of the Company or the Bank;
                        or

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

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                  Upon the  occurrence  of any event  described  in clauses (A),
                  (B), (C),  (D), (E) or (F),  above,  Executive  shall have the
                  right  to  elect  to  terminate  her  employment   under  this
                  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,  in  the  event  of  a  continuing  breach  of  this
                  Agreement  by the Bank,  Executive,  after  giving  due notice
                  within the prescribed time frame of an initial event specified
                  above,  shall not waive any of her rights under this Agreement
                  and this Section  solely by virtue of the fact that  Executive
                  has submitted her resignation, provided Executive has remained
                  in the  employment  of the Bank and is  engaged  in good faith
                  discussions to resolve any occurrence of an event described in
                  clauses (A), (B), (C), (D) or (F) above.

            (iii) (A)  Executive's  involuntary  termination  by the Bank or the
                  Company (or any successor  thereto) on the effective  date of,
                  or at  any  time  following,  a  Change  in  Control,  or  (B)
                  Executive's  resignation  from the employment with the Bank or
                  the Company (or any successor  thereto)  following a Change in
                  Control  as  a  result  of  any  event  described  in  Section
                  4(a)(ii)(A),  (B), (C), (D), or (F) above. For these purposes,
                  a "Change  in  Control"  shall mean a change in control of the
                  Bank or the Company of a nature that: (i) would be required to
                  be reported in response to Item 5.01 of the current  report on
                  Form 8-K, as in effect on the date hereof, pursuant to Section
                  13 or  15(d)  of the  Securities  Exchange  Act of  1934  (the
                  "Exchange  Act"); or (ii) without  limitation such a Change in
                  Control  shall be deemed to have  occurred at such time as (a)
                  any "person" (as the term is used in Sections  13(d) and 14(d)
                  of the Exchange Act) is or becomes the "beneficial  owner" (as
                  defined in Rule 13d-3  under the  Exchange  Act),  directly or
                  indirectly,  of securities of the Company  representing 25% or
                  more of the combined  voting  power of  Company's  outstanding
                  securities  except for any securities  purchased by the Bank's
                  employee stock ownership plan or trust; or (b) individuals who
                  constitute  the Board of  Directors of the Company on the 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 date hereof whose
                  election  was approved by a vote of at least a majority of the
                  directors of the Board,  shall be, for purposes of this clause
                  (b),  considered  as  though  he or she were a  member  of the
                  Incumbent  Board;  or (c) a plan  of  reorganization,  merger,
                  consolidation,  sale of all or substantially all the assets of
                  the Bank or the  Company or similar  transaction  in which the
                  Bank or Company is not the surviving institution occurs.

      (b)   Upon the occurrence of an Event of  Termination  under Sections 4(a)
(i) or (ii), on the Date of  Termination,  as defined in Section 9(b),  the Bank
shall be obligated to pay Executive,  or, in the event of her subsequent  death,
her  beneficiary  or  beneficiaries,  or her  estate,  as the  case  may be,  as
severance pay or liquidated damages, or both, an amount equal to the sum of: (i)
her earned but unpaid  salary as of the date of her  termination  of  employment
with the Bank; (ii) the

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benefits,  if any,  to which  she 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 or  Company's  officers  and  employees;
(iii) the remaining  payments that  Executive  would have earned,  in accordance
with Sections 3(a) and 3(b), if she had continued her  employment  with the Bank
for twelve (12) full months following such Event of Termination,  and had earned
the maximum bonus or incentive award in each calendar year that ends during such
term; and (iv) the annual contributions or payments that would have been made on
Executive's behalf to any employee benefit plans of the Bank as if Executive had
continued  her  employment  with the Bank for twelve (12) full months  following
such  Event of  Termination,  based on  contributions  or  payments  made (on an
annualized  basis) at the Date of Termination.  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, no later than the first day of the seventh month following the
Date of  Termination.  Such 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
4(a)(iii),  on the Date of  Termination,  as defined in Section  9(b),  the Bank
shall be obligated to pay Executive,  or, in the event of her subsequent  death,
her  beneficiary  or  beneficiaries,  or her  estate,  as the  case  may be,  as
severance pay or liquidated damages, or both, an amount equal to the sum of: (i)
her earned but unpaid  salary as of the date of her  termination  of  employment
with the Bank;  (ii) the benefits,  if any, to which she 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 or Company's  officers and
employees;  (iii) the remaining  payments that Executive  would have earned,  in
accordance with Sections 3(a) and 3(b), if she had continued her employment with
the Bank for an eighteen (18) month period  following such Event of Termination,
and had earned the maximum  bonus or incentive  award in each calendar year that
ends during such term; and (iv) the annual  contributions or payments that would
have been made on Executive's  behalf to any employee  benefit plans of the Bank
or the Company as if Executive had continued her employment with the Bank for an
eighteen  (18)  month  period  following  such  Event of  Termination,  based on
contributions  or  payments  made  (on  an  annualized  basis)  at the  Date  of
Termination.  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 Code applies, no later than the first day of the seventh month following the
Date of  Termination.  Such payments shall not be reduced in the event Executive
obtains other employment following termination of employment.

      (d)   To the extent required under  applicable law, upon the occurrence of
an Event of Termination,  the Bank will cause to be continued life,  medical and
disability  coverage  substantially  identical to the coverage maintained by the
Bank for Executive and her family prior to Executive's termination.

      (e)   Notwithstanding  anything in this  Agreement to the contrary,  in no
event  shall the  aggregate  payments  or  benefits  to be made or  afforded  to
Executive  under this Section  constitute an "excess  parachute  payment"  under
Section 280G of the Code or any successor thereto,  and in order to avoid such a
result,  Executive's  benefits hereunder shall be reduced,  if necessary,  to an
amount,  the value of which is one dollar  ($1.00)  less than an amount equal to
three (3) times

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Executive's  "base  amount," as determined in accordance  with Section 280G. The
allocation of the reduction required hereby shall be determined by Executive.

5.    TERMINATION FOR JUST CAUSE.

      (a)   The term "Termination for Just Cause" shall mean termination because
of the 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 5(a),  neither the Company nor the Bank may
terminate  Executive  for Just  Cause  unless  and until  there  shall have been
delivered to her a Notice of Termination, finding that in the good faith opinion
of the Chief  Executive  Officer,  Executive  was guilty of  conduct  justifying
Termination  for Just Cause and  specifying the  particulars  thereof in detail.
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  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,
the  Company  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 such  Termination  for Just
Cause.  In the Event of Executive's  Termination  for Just Cause,  the Executive
shall  resign  immediately  as a director of the Company and the Bank,  and as a
director and/or officer of any subsidiary or affiliate of the Company and/or the
Bank.

6.    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  her 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 Company or the Bank (or, if the Company or
the Bank  has no such  plan in  effect,  that  impairs  Executive's  ability  to
substantially  perform  her  duties  under  this  Agreement  for a period of one
hundred  eighty (180)  consecutive  days).  The Chief  Executive  Officer  shall
determine in good faith,  based upon competent  medical advice and other factors
that the Chief Executive Officer reasonably believes 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 Chief Executive  Officer may require Executive
to  submit  to such  physical  or  mental  evaluations  and  tests as the  Chief
Executive Officer deems reasonably  appropriate,  at the Bank's expense.  In the
event of such Disability,  Executive's obligation to perform services under this
Agreement will  terminate.  In the event of such  termination,  Executive  shall
receive  benefits under any disability  program  sponsored by the Company or the
Bank,  provided  that such benefit is not less than the benefit  provided in the
following  sentence of this Section  6(a).  In the event the Company or the Bank
does not sponsor any disability programs, the Executive shall continue

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to receive her Base Salary at the rate in effect on the Date of Termination  for
the remainder of the then-current term.

      (b)   In the event of Executive's death during the term of this Agreement,
her estate,  legal  representatives  or named  beneficiary or beneficiaries  (as
directed by Executive in writing) shall be paid Executive's Base Salary,  at the
rate in  effect  at the  time of  Executive's  death  for the  remainder  of the
then-current term.

7.    TERMINATION UPON RETIREMENT

      Termination of Executive's  employment  based on  "Retirement"  shall mean
termination of Executive's  employment on or after age 65 unless extended by the
Board or in accordance with any retirement policy established by the Bank or the
Company  with  Executive's  consent  with respect to her.  Upon  termination  of
Executive's employment 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.

8.    RESIGNATION FROM BOARDS OF DIRECTORS

      In the event of termination of Executive's employment for any reason other
than upon a Change in  Control,  Executive  shall  resign as a  director  of the
Company and the Bank,  and/or as a director  and/or officer of any subsidiary or
affiliate of the Company and/or the Bank.

9.    NOTICE.

      (a)   Any notice required hereunder shall be in writing and hand-delivered
to the other party. Hand delivery to the Bank may be made to the Chief Executive
Officer.  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 and shall set forth
in reasonable detail the facts and circumstances  claimed to provide a basis for
termination of Executive's employment under the provision so indicated.

      (b)   "Date of  Termination"  shall mean (A) if Executive's  employment is
terminated  for  Disability,  thirty (30) days after a Notice of  Termination is
given  (provided  that she shall not have  returned  to the  performance  of her
duties on a full-time basis during such thirty (30) day period),  and (B) if her
employment is terminated for any other reason,  the date specified in the Notice
of Termination.

      (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 such a dispute  exists,  and shall  pursue the
resolution of such dispute in good faith and with reasonable  diligence.  During
the  pendency  of any such  dispute,  neither  the Company nor the Bank shall be
obligated to pay Executive  compensation  or other  payments  beyond the Date of
Termination.

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10.   SOURCE OF PAYMENTS.

      All payments  provided in this  Agreement  shall be timely paid in cash or
check from the  general  funds of the Bank.  The  Company,  however,  guarantees
payment and  provision of all amounts and benefits due  hereunder to  Executive,
and if such  amounts  and  benefits  due from the  Bank are not  timely  paid or
provided by the Bank, such amounts and benefits shall be paid or provided by the
Company.

11.   EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS.

      This  Agreement  contains  the entire  understanding  between  the parties
hereto and supersedes any prior agreement between the Bank or any predecessor of
the Bank and Executive,  including,  without limitation,  that certain Change in
Control  Agreement dated as of December 31, 2003 with CLB and CLFC. No provision
of this  Agreement  shall be  interpreted  to mean that  Executive is subject to
receiving fewer benefits than those  available to her without  reference to this
Agreement.

12.   NO ATTACHMENT; BINDING ON SUCCESSORS.

      (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 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.

13.   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 such written waiver shall be deemed a continuing  waiver
unless specifically  stated therein,  and each such 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.

14.   REQUIRED PROVISIONS.

      (a)   The Bank may terminate  Executive's  employment at any time, but any
termination  by the Bank  other  than  Termination  for Just Cause as defined in
Section 5 hereof 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 Cause.

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      (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  Section  1818(e)(3)]  or  8(g)(1)  [12  USC  Section
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  Section  1818(e)(4)]  or  8(g)(1)  [12  USC  Section
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
Section  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 Director of the OTS or his or her
designee, at the time the FDIC enters into an agreement to provide assistance to
or on behalf of the Bank under the authority  contained in Section 13(c) [12 USC
Section  1823(c)] of the FDI Act; or (ii) by the Director or his or her designee
at the time the Director 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  Director  to be in an unsafe or  unsound  condition.  Any  rights of the
parties that have already vested, however, shall not be affected by such action.

      (f)   Notwithstanding  anything  herein  contained  to the  contrary,  any
payments to  Executive  by the Company,  whether  pursuant to this  Agreement or
otherwise,  are subject to and  conditioned  upon their  compliance with Section
18(k) of the FDI Act, 12 U.S.C. Section 1828(k), and the regulations promulgated
thereunder in 12 C.F.R. Part 359.

15.   NON-COMPETITION AND POST-TERMINATION OBLIGATIONS.

      (a)   All payments and benefits to Executive under this Agreement shall be
subject  to  Executive's  compliance  with  paragraph  (b),  (c) and (d) of this
Section 15.

      (b)   Executive shall,  upon reasonable  notice,  furnish such information
and  assistance  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;  provided,  however, that Executive shall
not be  required  to  provide  information  or  assistance  with  respect to any
litigation  between the  Executive  and the Bank or any of its  subsidiaries  or
affiliates.

      (c)   Executive  recognizes  and  acknowledges  that the  knowledge of the
business  activities and plans for business  activities of the Bank, the Company
and  affiliates  thereof,  as it may  exist  from time to time,  is a  valuable,
special and unique asset of the business of the Bank,

                                        9

<PAGE>

the Company and affiliates thereof. Executive will not, during or after the term
of her  employment,  disclose  any  knowledge of the past,  present,  planned or
considered business activities of the Bank, Company or affiliates thereof to any
person, firm, corporation,  or other entity for any reason or purpose whatsoever
(except for such  disclosure  as may be required to be provided to the Office of
Thrift Supervision ("OTS"), the Federal Deposit Insurance  Corporation ("FDIC"),
or other  regulatory  agency with  jurisdiction  over the  Company,  the Bank or
Executive).  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,  and  Executive may disclose any  information  regarding the Bank which is
otherwise publicly available or which Executive is otherwise legally required to
disclose.  In the event of a breach or  threatened  breach by  Executive  of the
provisions  of this  Section  15,  the Bank will be  entitled  to an  injunction
restraining Executive from disclosing, in whole or in part, her knowledge of the
past,  present,  planned or  considered  business  activities of the Bank or the
Company  or any of their  affiliates,  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 and the Company from  pursuing any other
remedies available to them for such breach or threatened  breach,  including the
recovery of damages from Executive.

      (d)   Executive agrees that Executive will not, in any manner  whatsoever,
during her employment  with the Company and the Bank and for a period of two (2)
years  following  the  termination  of  Executive's  employment,  either  as  an
individual or as a partner, stockholder, director, officer, principal, employee,
agent,  consultant,  or in any other relationship or capacity,  with any person,
firm,  corporation  or other  business  entity,  either  directly or indirectly,
solicit or induce or aid in the  solicitation  or inducement of any employees of
the Company or the Bank to leave their  employment with the Company or the Bank.
Executive further agrees that the Executive will not, in any manner  whatsoever,
during  Executive's  employment with the Company or the Bank and for a period of
two (2) years  following the  termination  of  Executive's  employment  with the
Company  or the Bank,  either as an  individual  or as a  partner,  stockholder,
director,  officer,  principal,  employee,  agent,  consultant  or in any  other
relationship  or capacity with any person,  firm,  corporation or other business
entity, either directly or indirectly,  solicit the business of any customers or
clients of the Company or the Bank at the time of the termination of Executive's
employment with the Company or the Bank.

16.   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 provision
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.

17.   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.

                                       10

<PAGE>

18.   GOVERNING LAW.

      This Agreement  shall be governed by the laws of the State of Illinois but
only to the extent not superseded by federal law.

19.   ARBITRATION.

      Any  dispute  or  controversy  arising  under or in  connection  with this
Agreement shall be settled exclusively by binding arbitration,  conducted before
a single  arbitrator  selected by the Bank and  Executive  sitting in a location
selected  by  the  Bank  and  Executive   within   twenty-five   (25)  miles  of
Edwardsville,  Illinois in accordance with the rules of the American Arbitration
Association then in effect. Judgment may be entered on the arbitrator's award in
any court having jurisdiction.

20.   PAYMENT OF LEGAL FEES.

      All  reasonable  legal fees paid or incurred by Executive  pursuant to any
dispute or question of  interpretation  relating to this Agreement shall be paid
or reimbursed by the Bank,  provided that the dispute or interpretation has been
settled by Executive and the Bank or resolved in Executive's favor.

21.   INDEMNIFICATION.

      (a)   The Bank shall provide Executive (including her heirs, executors and
administrators)   with  coverage  under  a  standard  directors'  and  officers'
liability  insurance policy at its expense,  and shall indemnify  Executive (and
her heirs,  executors and  administrators) to the fullest extent permitted under
applicable law against all expenses and liabilities  reasonably  incurred by her
in connection with or arising out of any action, suit or proceeding in which she
may be  involved  by reason of her having been a director or officer of the Bank
(whether  or not she  continues  to be a  director  or  officer  at the  time of
incurring  such  expenses or  liabilities),  such  expenses and  liabilities  to
include,  but not be limited to, judgments,  court costs and attorneys' fees and
the cost of reasonable  settlements  (such  settlements  must be approved by the
Board);  provided,  however,  the Bank shall not be  required  to  indemnify  or
reimburse  Executive for legal  expenses or  liabilities  incurred in connection
with an action,  suit or proceeding  arising from any illegal or fraudulent  act
committed by Executive.  Any such indemnification  shall be made consistent with
OTS  Regulations  and Section  18(k) of the Federal  Deposit  Insurance  Act, 12
U.S.C.  Section 1828(k), and the regulations issued thereunder in 12 C.F.R. Part
359.

      (b)   Notwithstanding  the  foregoing,  no  indemnification  shall be made
unless the Bank gives the OTS at least 60 days' notice of its  intention to make
such  indemnification.  Such  notice  shall  state the facts on which the action
arose,  the terms of any  settlement,  and any  disposition  of the  action by a
court.  Such notice,  a copy  thereof,  and a certified  copy of the  resolution
containing the required determination by the Board shall be sent to the Regional
Director of the OTS, who shall promptly  acknowledge receipt thereof. The notice
period shall run from the date of such receipt. No such indemnification shall be
made if the OTS advises the Bank in writing  within such notice  period,  of its
objection thereto.

      [Signatures on next page]

                                       11

<PAGE>

      IN WITNESS WHEREOF, the Company and the Bank have caused this Agreement to
be executed by their duly authorized  representatives,  and Executive has signed
this  Agreement,  effective as of the Effective  Date.  The Company has become a
party to this Agreement for the sole purpose of binding itself to the duties and
obligations set forth in Sections 10 and 21 hereof.

ATTEST:                                        FIRST CLOVER LEAF BANK

/s/ Donna L. Brandmeyer                        By: /s/ Dennis M. Terry
----------------------------------------          ----------------------------
Corporate Secretary                               President and
                                                  Chief Executive Officer

ATTEST:                                        FIRST CLOVER LEAF FINANCIAL CORP.

/s/ Donna L. Brandmeyer                        By: /s/ Dennis M. Terry
----------------------------------------          ----------------------------
Corporate Secretary                               President and
                                                  Chief Executive Officer

WITNESS:                                       EXECUTIVE:

/s/ Donna L. Brandmeyer                        /s/ Lisa Fowler
----------------------------------------       -------------------------------
Corporate Secretary                            Lisa Fowler

                                       12EXHIBIT 10.7

                   EMPLOYMENT AGREEMENT OF DARLENE F. MCDONALD

<PAGE>

                              EMPLOYMENT AGREEMENT

      This  Agreement  is made by and between  First Clover Leaf Bank, a federal
savings bank (the "Bank"), with its principal office in Edwardsville,  Illinois,
and Darlene  McDonald  ("Executive")  and is effective as of the effective  date
(the "Effective  Date") of the "Merger," as that term is defined in that certain
Agreement and Plan of Reorganization dated as of February 3, 2006 by and between
First Federal Financial Services,  MHC, First Federal Financial Services,  Inc.,
First  Clover Leaf  Financial  Corp.,  Clover Leaf Bank  ("CLB") and Clover Leaf
Financial  Corp.  ("CLFC") (the "Merger  Agreement").  References  herein to the
"Company" mean First Clover Leaf Financial  Corp., a Maryland  corporation  that
owns 100% of the common stock of the Bank on the Effective  Date. The Company is
a signatory to this  Agreement for the sole purpose of  guaranteeing  the Bank's
performance hereunder.

      WHEREAS,  Executive has served as an officer of CLB, which was merged with
and into the Bank as of the Effective Date pursuant to the Merger Agreement; and

      WHEREAS,  the Bank wishes to assure itself of the services of Executive as
an officer of the Bank  following  the  Merger for the period  provided  in this
Agreement; and

      WHEREAS,  Executive  agrees that this Agreement  supersedes,  replaces and
terminates  her Change in Control  Agreement  dated as of December 31, 2003 with
CLB and CLFC.

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

1.    POSITION AND RESPONSIBILITIES.

      Executive  shall  serve as the Senior  Vice  President  - Chief  Financial
Officer  of the Bank.  In this  position,  Executive  shall be  responsible  for
overseeing  the  financial   functions  of  the  Bank,  and   establishing   and
implementing  the  financial  plans and  policies  of the Bank,  in  addition to
directing and overseeing the Bank's  operational  policies and daily processing,
as  it  relates  to  all  electronic  banking  services,   item  processing  and
credit/debit card fraud protection,  in each case pursuant to direction from the
Chief  Executive  Officer.  Executive  also  agrees to serve,  if  appointed  or
elected, as an officer and director of any subsidiary or affiliate of the Bank.

2.    TERM AND DUTIES.

      (a)   The term of this Agreement and the period of Executive's  employment
hereunder  will  begin as of the  Effective  Date and  continue  for a period of
twelve (12) full calendar months thereafter. Commencing on the first anniversary
date  of  this  Agreement  (the  "Anniversary  Date"),  and  continuing  at each
Anniversary  Date  thereafter,  the Agreement shall renew for an additional year
such  that the  remaining  term  shall be  twelve  (12)  full  calendar  months;
provided,  however,  that the Board  shall at least  sixty (60) days before such
Anniversary  Date conduct a comprehensive  performance  evaluation and review of
the Executive for purposes of determining whether to extend this Agreement.  The
Board shall give the  Executive  notice of its decision  whether or not to renew
this Agreement at least thirty (30) days and not more than

<PAGE>

sixty  (60)  days  prior to the  Anniversary  Date  and,  if  written  notice of
non-renewal  is provided to the  Executive  within said time frame,  the term of
this Agreement shall not be extended.

      (b)   During the period of her employment hereunder, except for periods of
absence  occasioned by illness,  reasonable  vacation  periods,  and  reasonable
leaves of absence  approved  by the Chief  Executive  Officer,  Executive  shall
devote substantially all her business time, attention, skill, and efforts to the
faithful  performance of her duties hereunder including  activities and services
related to the  organization,  operation and  management of the Bank;  provided,
however,  that, with the approval of the Board, Executive may serve, or continue
to serve, on the boards of directors of, and hold any other offices or positions
in, business,  social, religious,  charitable or similar organizations which, in
the Board's  judgment,  will not present any conflict of interest with the Bank,
or materially  affect the  performance  of Executive's  duties  pursuant to this
Agreement.  Notwithstanding the preceding sentence,  no approval is required for
the Executive to participate or serve in (i) outside  organizations in which the
Executive is serving as of the Effective  Date;  (ii)  religious or  educational
organizations  which  Executive or Executive's  children may attend from time to
time; or (iii) affiliates of such organizations.

3.    COMPENSATION, BENEFITS AND REIMBURSEMENT.

      (a)   The compensation specified under this Agreement shall constitute the
salary and benefits paid for the duties described in Section 2(b).  Beginning on
the Effective Date, the Bank shall pay Executive as compensation a salary of not
less than  $91,000 per year ("Base  Salary").  Such Base Salary shall be payable
biweekly,  or with such other  frequency as officers and employees are generally
paid.  During the period of this  Agreement,  Executive's  Base Salary  shall be
reviewed  at least  annually.  Such  review  shall  be  conducted  by the  Chief
Executive  Officer,  and the Bank  may  increase,  but not  decrease  (except  a
decrease that is generally applicable to all employees)  Executive's Base Salary
(with any increase in Base Salary to become  "Base  Salary" for purposes of this
Agreement).  In addition to the Base Salary, the Bank shall provide Executive at
no cost to Executive with all such other  benefits as are provided  uniformly to
permanent full-time employees of the Bank. Base Salary shall include any amounts
of compensation  deferred by Executive under  qualified and  nonqualified  plans
maintained by the Bank.

      (b)   Executive  will be entitled to  participate  in or receive  benefits
under any  employee  benefit  plans  including,  but not limited to,  retirement
plans,  supplemental  retirement  plans,  pension plans,  profit-sharing  plans,
health-and-accident  insurance  plans,  medical  coverage or any other  employee
benefit  plan or  arrangement  made  available by the Bank or the Company 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 such
plans  and  arrangements.  Executive  will be  entitled  to  participate  in any
incentive  compensation  and bonus  plans  offered by the Bank or the Company in
which Executive is eligible to participate.  Nothing paid to Executive under any
such plan or arrangement  will be deemed to be in lieu of other  compensation to
which Executive is entitled under this Agreement.

      (c)   In  addition  to the Base  Salary,  the Bank shall pay or  reimburse
Executive for all reasonable  travel and other reasonable  expenses  incurred by
Executive  performing her

                                        2

<PAGE>

obligations under this Agreement and may provide such additional compensation in
such form and such amounts as the Chief Executive  Officer may from time to time
determine.  The Bank shall  reimburse  Executive  for her ordinary and necessary
business expenses,  including,  without limitation, fees for memberships in such
clubs and  organizations  as Executive  and the Chief  Executive  Officer  shall
mutually agree are necessary and appropriate for business  purposes,  and travel
and entertainment  expenses,  incurred in connection with the performance of her
duties under this Agreement.

4.    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 4 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 5  (Termination  for Cause) or termination
                  governed  by  Section  6  (termination  due to  Disability  or
                  death); or

            (ii)  Executive's  resignation from the Bank's employ for any of the
                  following reasons:

                  (A)   the  failure to appoint or  reappoint  Executive  to the
                        position set forth under Section 1;

                  (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 thereof described in Section 1;

                  (C)   a  relocation   of   Executive's   principal   place  of
                        employment  by more  than  thirty  (30)  miles  from its
                        location at the Effective Date of this Agreement;

                  (D)   a material  reduction in the benefits and perquisites to
                        Executive  from those being  provided as of the later of
                        the Effective Date or any subsequent Anniversary Date of
                        this Agreement, other than an employee-wide reduction in
                        pay or benefits;

                  (E)   a liquidation or dissolution of the Company or the Bank;
                        or

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

                  Upon the  occurrence  of any event  described  in clauses (A),
                  (B), (C),  (D), (E) or (F),  above,  Executive  shall have the
                  right  to  elect  to  terminate  her  employment   under  this
                  Agreement by resignation upon not less than thirty

                                       3

<PAGE>

                  (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,  in the event of a  continuing  breach of
                  this Agreement by the Bank, Executive, after giving due notice
                  within the prescribed time frame of an initial event specified
                  above,  shall not waive any of her rights under this Agreement
                  and this Section  solely by virtue of the fact that  Executive
                  has submitted her resignation, provided Executive has remained
                  in the  employment  of the Bank and is  engaged  in good faith
                  discussions to resolve any occurrence of an event described in
                  clauses (A), (B), (C), (D) or (F) above.

            (iii) (A)  Executive's  involuntary  termination  by the Bank or the
                  Company (or any successor  thereto) on the effective  date of,
                  or at  any  time  following,  a  Change  in  Control,  or  (B)
                  Executive's  resignation  from the employment with the Bank or
                  the Company (or any successor  thereto)  following a Change in
                  Control  as  a  result  of  any  event  described  in  Section
                  4(a)(ii)(A),  (B), (C), (D), or (F) above. For these purposes,
                  a "Change  in  Control"  shall mean a change in control of the
                  Bank or the Company of a nature that: (i) would be required to
                  be reported in response to Item 5.01 of the current  report on
                  Form 8-K, as in effect on the date hereof, pursuant to Section
                  13 or  15(d)  of the  Securities  Exchange  Act of  1934  (the
                  "Exchange  Act"); or (ii) without  limitation such a Change in
                  Control  shall be deemed to have  occurred at such time as (a)
                  any "person" (as the term is used in Sections  13(d) and 14(d)
                  of the Exchange Act) is or becomes the "beneficial  owner" (as
                  defined in Rule 13d-3  under the  Exchange  Act),  directly or
                  indirectly,  of securities of the Company  representing 25% or
                  more of the combined  voting  power of  Company's  outstanding
                  securities  except for any securities  purchased by the Bank's
                  employee stock ownership plan or trust; or (b) individuals who
                  constitute  the Board of  Directors of the Company on the 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 date hereof whose
                  election  was approved by a vote of at least a majority of the
                  directors of the Board,  shall be, for purposes of this clause
                  (b),  considered  as  though  he or she were a  member  of the
                  Incumbent  Board;  or (c) a plan  of  reorganization,  merger,
                  consolidation,  sale of all or substantially all the assets of
                  the Bank or the  Company or similar  transaction  in which the
                  Bank or Company is not the surviving institution occurs.

      (b) Upon the occurrence of an Event of Termination under Sections 4(a) (i)
or (ii), on the Date of Termination,  as defined in Section 9(b), the Bank shall
be obligated to pay  Executive,  or, in the event of her subsequent  death,  her
beneficiary or  beneficiaries,  or her estate,  as the case may be, as severance
pay or  liquidated  damages,  or both,  an amount  equal to the sum of:  (i) her
earned but unpaid salary as of the date of her  termination  of employment  with
the  Bank;  (ii) the  benefits,  if any,  to which she 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 or Company's  officers and
employees;  (iii) the remaining  payments that Executive  would have

                                       4

<PAGE>

earned,  in  accordance  with  Sections  3(a) and 3(b), if she had continued her
employment  with the Bank for twelve  (12) full months  following  such Event of
Termination,  and had  earned  the  maximum  bonus  or  incentive  award in each
calendar year that ends during such term; and (iv) the annual  contributions  or
payments that would have been made on Executive's behalf to any employee benefit
plans of the Bank as if Executive had continued her employment with the Bank for
twelve  (12)  full  months  following  such  Event  of  Termination,   based  on
contributions  or  payments  made  (on  an  annualized  basis)  at the  Date  of
Termination.  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,  no later than
the first day of the  seventh  month  following  the Date of  Termination.  Such
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
4(a)(iii),  on the Date of  Termination,  as defined in Section  9(b),  the Bank
shall be obligated to pay Executive,  or, in the event of her subsequent  death,
her  beneficiary  or  beneficiaries,  or her  estate,  as the  case  may be,  as
severance pay or liquidated damages, or both, an amount equal to the sum of: (i)
her earned but unpaid  salary as of the date of her  termination  of  employment
with the Bank;  (ii) the benefits,  if any, to which she 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 or Company's  officers and
employees;  (iii) the remaining  payments that Executive  would have earned,  in
accordance with Sections 3(a) and 3(b), if she had continued her employment with
the Bank for an eighteen (18) month period  following such Event of Termination,
and had earned the maximum  bonus or incentive  award in each calendar year that
ends during such term; and (iv) the annual  contributions or payments that would
have been made on Executive's  behalf to any employee  benefit plans of the Bank
or the Company as if Executive had continued her employment with the Bank for an
eighteen  (18)  month  period  following  such  Event of  Termination,  based on
contributions  or  payments  made  (on  an  annualized  basis)  at the  Date  of
Termination.  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 Code applies, no later than the first day of the seventh month following the
Date of  Termination.  Such payments shall not be reduced in the event Executive
obtains other employment following termination of employment.

      (d) To the extent required under applicable law, upon the occurrence of an
Event of  Termination,  the Bank will cause to be  continued  life,  medical and
disability  coverage  substantially  identical to the coverage maintained by the
Bank for Executive and her family prior to Executive's termination.

      (e)  Notwithstanding  anything in this  Agreement to the  contrary,  in no
event  shall the  aggregate  payments  or  benefits  to be made or  afforded  to
Executive  under this Section  constitute an "excess  parachute  payment"  under
Section 280G of the Code or any successor thereto,  and in order to avoid such a
result,  Executive's  benefits hereunder shall be reduced,  if necessary,  to an
amount,  the value of which is one dollar  ($1.00)  less than an amount equal to
three (3) times  Executive's  "base  amount," as determined  in accordance  with
Section  280G.  The  allocation  of  the  reduction  required  hereby  shall  be
determined by Executive.

                                       5

<PAGE>

5.    TERMINATION FOR JUST CAUSE.

      (a) The term  "Termination for Just Cause" shall mean termination  because
of the 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  5(a),  neither the Company nor the Bank may
terminate  Executive  for Just  Cause  unless  and until  there  shall have been
delivered to her a Notice of Termination, finding that in the good faith opinion
of the Chief  Executive  Officer,  Executive  was guilty of  conduct  justifying
Termination  for Just Cause and  specifying the  particulars  thereof in detail.
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  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,
the  Company  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 such  Termination  for Just
Cause.  In the Event of Executive's  Termination  for Just Cause,  the Executive
shall  resign  immediately  as a director of the Company and the Bank,  and as a
director and/or officer of any subsidiary or affiliate of the Company and/or the
Bank.

6.    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  her 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 Company or the Bank (or, if the Company or
the Bank  has no such  plan in  effect,  that  impairs  Executive's  ability  to
substantially  perform  her  duties  under  this  Agreement  for a period of one
hundred  eighty (180)  consecutive  days).  The Chief  Executive  Officer  shall
determine in good faith,  based upon competent  medical advice and other factors
that the Chief Financial Officer reasonably believes 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 Chief Executive  Officer may require Executive
to  submit  to such  physical  or  mental  evaluations  and  tests as the  Chief
Financial Officer deems reasonably  appropriate,  at the Bank's expense.  In the
event of such Disability,  Executive's obligation to perform services under this
Agreement will  terminate.  In the event of such  termination,  Executive  shall
receive  benefits under any disability  program  sponsored by the Company or the
Bank,  provided  that such benefit is not less than the benefit  provided in the
following  sentence of this Section  6(a).  In the event the Company or the Bank
does not  sponsor any  disability  programs,  the  Executive  shall  continue to
receive her Base Salary at the rate in effect on the Date of Termination for the
remainder of the then-current term.

                                       6

<PAGE>

      (b) In the event of Executive's  death during the term of this  Agreement,
her estate,  legal  representatives  or named  beneficiary or beneficiaries  (as
directed by Executive in writing) shall be paid Executive's Base Salary,  at the
rate in  effect  at the  time of  Executive's  death  for the  remainder  of the
then-current term.

7.    TERMINATION UPON RETIREMENT

      Termination of Executive's  employment  based on  "Retirement"  shall mean
termination of Executive's  employment on or after age 65 unless extended by the
Board or in accordance with any retirement policy established by the Bank or the
Company  with  Executive's  consent  with respect to her.  Upon  termination  of
Executive's employment 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.

8.    RESIGNATION FROM BOARDS OF DIRECTORS

      In the event of termination of Executive's employment for any reason other
than upon a Change in  Control,  Executive  shall  resign as a  director  of the
Company and the Bank,  and/or as a director  and/or officer of any subsidiary or
affiliate of the Company and/or the Bank.

9.    NOTICE.

      (a) Any notice required  hereunder shall be in writing and  hand-delivered
to the other party. Hand delivery to the Bank may be made to the Chief Executive
Officer.  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 and shall set forth
in reasonable detail the facts and circumstances  claimed to provide a basis for
termination of Executive's employment under the provision so indicated.

      (b) "Date of  Termination"  shall mean (A) if  Executive's  employment  is
terminated  for  Disability,  thirty (30) days after a Notice of  Termination is
given  (provided  that she shall not have  returned  to the  performance  of her
duties on a full-time basis during such thirty (30) day period),  and (B) if her
employment is terminated for any other reason,  the date specified in the Notice
of Termination.

      (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 such a dispute  exists,  and shall  pursue the
resolution of such dispute in good faith and with reasonable  diligence.  During
the  pendency  of any such  dispute,  neither  the Company nor the Bank shall be
obligated to pay Executive  compensation  or other  payments  beyond the Date of
Termination.

                                       7

<PAGE>

10.   SOURCE OF PAYMENTS.

      All payments  provided in this  Agreement  shall be timely paid in cash or
check from the  general  funds of the Bank.  The  Company,  however,  guarantees
payment and  provision of all amounts and benefits due  hereunder to  Executive,
and if such  amounts  and  benefits  due from the  Bank are not  timely  paid or
provided by the Bank, such amounts and benefits shall be paid or provided by the
Company.

11.   EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS.

      This  Agreement  contains  the entire  understanding  between  the parties
hereto and supersedes any prior agreement between the Bank or any predecessor of
the Bank and Executive,  including,  without limitation,  that certain Change in
Control  Agreement dated as of December 31, 2003 with CLB and CLFC. No provision
of this  Agreement  shall be  interpreted  to mean that  Executive is subject to
receiving fewer benefits than those  available to her without  reference to this
Agreement.

12.   NO ATTACHMENT; BINDING ON SUCCESSORS.

      (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 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.

13.   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 such written waiver shall be deemed a continuing  waiver
unless specifically  stated therein,  and each such 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.

14.   REQUIRED PROVISIONS.

      (a)   The Bank may terminate Executive's employment at any time, but any
termination  by the Bank  other  than  Termination  for Just Cause as defined in
Section 5 hereof 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 Cause.

                                       8

<PAGE>

      (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  Section  1818(e)(3)]  or  8(g)(1)  [12  USC  Section
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  Section  1818(e)(4)]  or  8(g)(1)  [12  USC  Section
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
Section  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 Director of the OTS or his or her
designee, at the time the FDIC enters into an agreement to provide assistance to
or on behalf of the Bank under the authority  contained in Section 13(c) [12 USC
Section  1823(c)] of the FDI Act; or (ii) by the Director or his or her designee
at the time the Director 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  Director  to be in an unsafe or  unsound  condition.  Any  rights of the
parties that have already vested, however, shall not be affected by such action.

      (f)   Notwithstanding  anything  herein  contained  to the  contrary,  any
payments to  Executive  by the Company,  whether  pursuant to this  Agreement or
otherwise,  are subject to and  conditioned  upon their  compliance with Section
18(k) of the FDI Act, 12 U.S.C. Section 1828(k), and the regulations promulgated
thereunder in 12 C.F.R. Part 359.

15.   NON-COMPETITION AND POST-TERMINATION OBLIGATIONS.

      (a)   All payments and benefits to Executive under this Agreement shall be
subject  to  Executive's  compliance  with  paragraph  (b),  (c) and (d) of this
Section 15.

      (b)   Executive shall,  upon reasonable  notice,  furnish such information
and  assistance  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;  provided,  however, that Executive shall
not be  required  to  provide  information  or  assistance  with  respect to any
litigation  between the  Executive  and the Bank or any of its  subsidiaries  or
affiliates.

      (c)   Executive  recognizes  and  acknowledges  that the  knowledge of the
business  activities and plans for business  activities of the Bank, the Company
and  affiliates  thereof,  as it may  exist  from time to time,  is a  valuable,
special and unique asset of the business of the Bank,

                                       9

<PAGE>

the Company and affiliates thereof. Executive will not, during or after the term
of her  employment,  disclose  any  knowledge of the past,  present,  planned or
considered business activities of the Bank, Company or affiliates thereof to any
person, firm, corporation,  or other entity for any reason or purpose whatsoever
(except for such  disclosure  as may be required to be provided to the Office of
Thrift Supervision ("OTS"), the Federal Deposit Insurance  Corporation ("FDIC"),
or other  regulatory  agency with  jurisdiction  over the  Company,  the Bank or
Executive).  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,  and  Executive may disclose any  information  regarding the Bank which is
otherwise publicly available or which Executive is otherwise legally required to
disclose.  In the event of a breach or  threatened  breach by  Executive  of the
provisions  of this  Section  15,  the Bank will be  entitled  to an  injunction
restraining Executive from disclosing, in whole or in part, her knowledge of the
past,  present,  planned or  considered  business  activities of the Bank or the
Company  or any of their  affiliates,  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 and the Company from  pursuing any other
remedies available to them for such breach or threatened  breach,  including the
recovery of damages from Executive.

      (d)   Executive agrees that Executive will not, in any manner  whatsoever,
during her employment  with the Company and the Bank and for a period of two (2)
years  following  the  termination  of  Executive's  employment,  either  as  an
individual or as a partner, stockholder, director, officer, principal, employee,
agent,  consultant,  or in any other relationship or capacity,  with any person,
firm,  corporation  or other  business  entity,  either  directly or indirectly,
solicit or induce or aid in the  solicitation  or inducement of any employees of
the Company or the Bank to leave their  employment with the Company or the Bank.
Executive further agrees that the Executive will not, in any manner  whatsoever,
during  Executive's  employment with the Company or the Bank and for a period of
two (2) years  following the  termination  of  Executive's  employment  with the
Company  or the Bank,  either as an  individual  or as a  partner,  stockholder,
director,  officer,  principal,  employee,  agent,  consultant  or in any  other
relationship  or capacity with any person,  firm,  corporation or other business
entity, either directly or indirectly,  solicit the business of any customers or
clients of the Company or the Bank at the time of the termination of Executive's
employment with the Company or the Bank.

16.   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 provision
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.

17.   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.

                                       10

<PAGE>

18.   GOVERNING LAW.

      This Agreement  shall be governed by the laws of the State of Illinois but
only to the extent not superseded by federal law.

19.   ARBITRATION.

      Any  dispute  or  controversy  arising  under or in  connection  with this
Agreement shall be settled exclusively by binding arbitration,  conducted before
a single  arbitrator  selected by the Bank and  Executive  sitting in a location
selected  by  the  Bank  and  Executive   within   twenty-five   (25)  miles  of
Edwardsville,  Illinois in accordance with the rules of the American Arbitration
Association then in effect. Judgment may be entered on the arbitrator's award in
any court having jurisdiction.

20.   PAYMENT OF LEGAL FEES.

      All  reasonable  legal fees paid or incurred by Executive  pursuant to any
dispute or question of  interpretation  relating to this Agreement shall be paid
or reimbursed by the Bank,  provided that the dispute or interpretation has been
settled by Executive and the Bank or resolved in Executive's favor.

21.   INDEMNIFICATION.

      (a)   The Bank shall provide Executive (including her heirs, executors and
administrators)   with  coverage  under  a  standard  directors'  and  officers'
liability  insurance policy at its expense,  and shall indemnify  Executive (and
her heirs,  executors and  administrators) to the fullest extent permitted under
applicable law against all expenses and liabilities  reasonably  incurred by her
in connection with or arising out of any action, suit or proceeding in which she
may be  involved  by reason of her having been a director or officer of the Bank
(whether  or not she  continues  to be a  director  or  officer  at the  time of
incurring  such  expenses or  liabilities),  such  expenses and  liabilities  to
include,  but not be limited to, judgments,  court costs and attorneys' fees and
the cost of reasonable  settlements  (such  settlements  must be approved by the
Board);  provided,  however,  the Bank shall not be  required  to  indemnify  or
reimburse  Executive for legal  expenses or  liabilities  incurred in connection
with an action,  suit or proceeding  arising from any illegal or fraudulent  act
committed by Executive.  Any such indemnification  shall be made consistent with
OTS  Regulations  and Section  18(k) of the Federal  Deposit  Insurance  Act, 12
U.S.C.  Section 1828(k), and the regulations issued thereunder in 12 C.F.R. Part
359.

      (b)   Notwithstanding  the  foregoing,  no  indemnification  shall be made
unless the Bank gives the OTS at least 60 days' notice of its  intention to make
such  indemnification.  Such  notice  shall  state the facts on which the action
arose,  the terms of any  settlement,  and any  disposition  of the  action by a
court.  Such notice,  a copy  thereof,  and a certified  copy of the  resolution
containing the required determination by the Board shall be sent to the Regional
Director of the OTS, who shall promptly  acknowledge receipt thereof. The notice
period shall run from the date of such receipt. No such indemnification shall be
made if the OTS advises the Bank in writing  within such notice  period,  of its
objection thereto.

     [Signatures on next page]

                                       11

<PAGE>

     IN WITNESS WHEREOF,  the Company and the Bank have caused this Agreement to
be executed by their duly authorized  representatives,  and Executive has signed
this  Agreement,  effective as of the Effective  Date.  The Company has become a
party to this Agreement for the sole purpose of binding itself to the duties and
obligations set forth in Sections 10 and 21 hereof.

ATTEST:                                      FIRST CLOVER LEAF BANK

/s/ Donna L. Brandmeyer                      By: /s/ Dennis M. Terry
------------------------                         ------------------------
Corporate Secretary                              President and
                                                 Chief Executive Officer

ATTEST:                                      FIRST CLOVER LEAF FINANCIAL CORP.

/s/ Donna L. Brandmeyer                      By: /s/ Dennis M. Terry
------------------------                         ------------------------
Corporate Secretary                              President and
                                                 Chief Executive Officer

WITNESS:                                     EXECUTIVE:

/s/ Donna L. Brandmeyer                      /s/ Darlene McDonald
------------------------                     ---------------------------
Corporate Secretary                          Darlene McDonald

                                       12

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