Document:

ADVISORY
AGREEMENT

 

This
Advisory Agreement (this “Agreement”) is dated as ofJanuary 11, 2018 by and among Kinerja Pay Corp., a Delaware
Corporation (“KPAY” or the “Company”), Blockchain Industries, Inc., a Nevada Corporation
(“BII”) and Fintech Financial Consultants, Inc, a Nevada corporation (“FFCI”). KPAY, BII and
FFCI are referred to collectively as the “Parties.” BII and FFCI are referred to collectively as the
“Advisors.”

 

WHEREAS,
KPAY isplanning to offer up to Six Million U.S. Dollars ($6,000,000) of new digital tokens created, allotted and issued pursuant
to a future initial coin offering (“ICO”).

 

WHEREAS,
the Parties anticipate that the ICO will be conducted on a cryptocurrency exchange (“Exchange”) to be established
in Southeast Asia and owned by the parties through a newly-formed entity (the “Exchange Entity”).

 

WHEREAS,
in compliance with U.S. securities laws, no citizen, resident or domiciliary of the U.S., Puerto Rico, the U.S. Virgin Islands
or any other possessions of the U.S. shall be allowed to purchase any tokens pursuant to the ICO on the Exchange.

 

WHEREAS,
in addition to the ICO, the Parties intend to develop the Exchange capabilitysoastofacilitateavarietyoftradingplatformsfortheexecution
oftransactions on a distributed ledger (the “CryptotradingPlatform”).

 

WHEREAS,
BII and FFCI each possess expertise, experience and knowledge regarding complex financial and technical infrastructures, digital
currency platforms and networks andblockchaintechnologytoadviseandconsultwithKPAYregardingtheICO, the Exchange and the CryptotradingPlatform.

 

NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement, the Parties hereby agree as follows.

 

	1.	Services

 

BII
and FFCI shall provide to the Company the following Advisory Services (“Services”):

 

	 	●	Consulting
    related to the launch of the ICO and the establishment of a market on the Exchange for which to trade and transfer digitaltokens;
	 	 	 
	 	●	Introductions
    to third parties with marketing and advisoryexperience potentially relevant to the ICO;and
	 	 	 
	 	●	Creation
    of the Exchange and a full complement of relatedpre-sale support, functionality and acquisitions concerning digitaltokens.

 

    	 	1	 

    	 

    

 

	2.	Consideration

 

Within
ten (10) business days of the execution of this Agreement, KPAY shall (i) issue to BII One Million (1,000,000) shares of the
common stock of KPAY and (ii) KPAY shall pay to BII Two Hundred Fifty Thousand U.S. Dollars ($250,000.00 USD) via wire
transfer. BII and FFCI having made other arrangements between themselves, and FFCI acknowledges and agrees that it shall not
receive any payment of cash or stock under this Agreement.

 

	3.	Cyrpto
    Exchange

 

As
part of the Services, BII and FFCI will formulate, develop, structure, establish, administer and operate the Exchange. Such Services
may include, but shall not be limited to consulting and advisory services regarding trading, price discovery and settlement/clearing,
as well as, due diligence, escrow, underwriting and providing communication platforms to enable the adoption of new products and
technologies and to attract investors.

 

The
equity interests of the Exchange Entity shall be beneficially owned one-half (50%) by KPAY and one-half (50%) by BII. BII and
FFCI having made other arrangements between themselves, and FFCI acknowledges and agrees that FFCI shall have no equity interest
in the Exchange Entity.

 

The
Exchange Entity shall initially be funded pursuant to a contribution byKPAY of Two Hundred Fifty Thousand U.S. Dollars ($250,000
USD) from the proceeds generated by the ICO (the “Startup Contribution”). KPAY and BII shall contribute such
additional capital to the Exchange Entity as mutually agreed upon to be necessary and appropriate for the operation of the Exchange
and in proportion to their respective ownership interests in the Exchange Entity. If BII and/or FFCI advance funds to the Exchange
Entity prior to KPAY’s funding of the Startup Contribution, BII and/or FFCI, as the case may be, shall be entitled to prompt
reimbursement for the entire amount of such funds soadvanced.

 

	4.	Term
    of Service

 

The
term of this Agreement is one year. Notwithstanding anything herein to the contrary, either party may terminate this Agreement
at any time for any reason by providing the other party with fifteen (15) days prior written notice. KPAY acknowledges and agrees
that the Consideration provided to BII in Section 2 of this Agreement shall be non-refundable and shall not be repaid to KPAY
upon a Termination of this Agreement regardless of reason.

 

	5.	Representations
    and Warranties of the Company

 

(a)       The
Company is a corporation duly organized, validly existing and in good standing under the laws of Delaware, and has the power and
authority to own, lease and operate its properties and carry on its business as nowconducted.

 

    	 	2	 

    	 

    

 

(b)       The
execution, delivery and performance by the Company of this Agreement is within the power of the Company and has been duly authorized
by all necessary actions on the part of the Company. This Agreement constitutes a legal, valid and binding obligation of the Company,
enforceable against the Company in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general
application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity. To
the knowledge of the Company, it is not in violation of (i) its current certificate of incorporation or bylaws, (ii) any material
statute, rule or regulation applicable to the Company or (iii) any material indenture or contract to which the Company is a party
or by which it is bound, where, in each case, such violation or default, individually, or together with all such violations or
defaults, could reasonably be expected to have a material adverse effect on theCompany.

 

(c)       The
performance and consummation of the transactions contemplated by this Instrument do not and will not: (i) violate any material
judgment, statute, rule or regulation applicable to the Company; (ii) result in the acceleration of any material indenture or
contract to which the Company is a party or by which it is bound; or (iii) result in the creation or imposition of any lien upon
any property, asset or revenue of the Company or the suspension, forfeiture, or nonrenewal of any material permit, license or
authorization applicable to the Company, its business oroperations.

 

(d)       No
consents or approvals are required in connection with theperformance of this Agreement, other than: (i) the Company’s corporate
approvals; (ii) any qualifications or filings under applicable securities laws; and (iii) necessary corporate approvals for the
authorization of shares of common stock issuable pursuant to Section 2 of thisAgreement.

 

	6.	Indemnification

 

The
Company shall be solely responsible for its products, the content of its website, its IR/PR communications, and its advertising
materials, and any claims it makes about its products or its business, and any losses related to the aforementioned, and shall,
at its sole cost and expense, defend and indemnify the Advisors and hold the Advisors harmless from and against any claims, loss,
suit, liability or judgment, including reasonable attorney’s fees and costs, arising out of, or in connection with Company’s
products, website, IR/PR communications or advertising published/aired hereunder, including, without limitation, for any violations
of securities laws or regulations, misrepresentations, false advertising, libel, slander, violation of right of privacy, plagiarism,
infringement of copyright or other intellectual property interest, except in the case of the Advisors’ unauthorized or negligent
use of any information prepared byCompany.

 

    	 	3	 

    	 

    

 

If
the Advisors, or their affiliates, or any person or entity controlled by the Advisors or any of their affiliates, their respective
current and former officers, directors, partners, attorneys, owners, employees and agents, and the heirs, successors and assigns
of all of the foregoing persons or entities (collectively, the “Advisor Indemnitees”) become involved in any
capacity in any pending or threatened claim, suit, action, proceeding, investigation or inquiry (including, without limitation,
any shareholder or derivative action or arbitration proceeding) (collectively, a “Proceeding”) (i) in connection
with or arising out of any untrue statements or alleged untrue statements of a material fact contained in any information supplied
or provided by the Company; (ii) in connection with or arising out of any omission or alleged omission to state therein a material
fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading contained
in any information supplied or provided by the Company; or (iii) otherwise in connection with any matter in any way relating to
or referring to this Agreement or arising out of the matters contemplated by this Agreement, including, without limitation, related
services and activities prior to the date of this Agreement, the Company agrees to indemnify, defend and hold the Advisor Indemnitees
harmless to the fullestextent permitted by law from and against any losses, claims, damages, liabilities and expenses in connection
with any Proceeding, except to the extent that it shall be determined by a court of competent jurisdiction in a judgment that
has become final in that it is no longer subject to appeal or other review that such losses, claims, damages, liabilities and
expenses resulted solely from the willful misconduct of the Advisors. In addition, if any of the Advisor Indemnitees becomes involved
in any capacity in any Proceeding in connection with any matter in any way relating to or referred to in this Agreement or arising
out of the matters contemplated by this Agreement, the Company will reimburse the Advisors Indemnitees for their reasonable legal
and other expenses (including the cost of any investigation or preparation in connection with any Proceeding) as such expenses
are incurred by the Advisors Indemnitees in connection therewith. If such indemnification is not available or is insufficient
to hold the Advisors Indemnitees harmless for any reason, the Company agrees that in no event will it contribute less than the
amount necessary to assured that the Advisors Indemnitees are not liable for losses, claims, damages, liabilities and expenses
in excess of the amount of fees actually received by the Advisors pursuant to this Agreement.

 

The
Company further agrees that the Advisors, its affiliates, any person or entity controlled by the Advisors or any of its affiliates,
their respective current and former officers, directors, partners, attorneys, owners, employees and agents, and the heirs, successors
and assigns of all of the foregoing persons or entities shall not have any liability to the Company, any person asserting claims
on behalf of or in the right of the Company, or any of the Company’s directors, employees, owners, parents, affiliates,
security holders or creditors for, any losses, claims, damages, liabilities and expenses in connection with any matter in any
way related to or referred to in this Agreement or arising out of the matters contemplated by this Agreement, including without
limitation, related services and activities prior to the date of this Agreement, except to the extent that it shall be determined
by a court of competent jurisdiction in a judgment that has become final in that it is no longer subject to appeal or other review
that such losses, claims, damages, liabilities and expenses resulted solely from the willful misconduct of the Advisors.

 

    	 	4	 

    	 

    

 

The
Company will not settle, compromise or consent to the entry of anyjudgment in or otherwise seek to terminate any Proceeding in
respect of which indemnity may be sought hereunder, whether or not any of the Advisor Indemnitees is an actual or potential party
to such Proceeding without the Advisors prior written consent, unless the Company has given the Advisors reasonable prior written
notice thereof and such settlement, compromise, consent or termination (i) includes an unconditional release, in form and substance
satisfactory to the Advisors, of the Advisor Indemnitees from all liability in any way related to or arising out of such Proceeding
and (ii) does not impose any actual or potential liability upon the Advisor Indemnitees and does not contain any factual or legal
admission by or with respect to the Advisors Indemnitee or any adverse statement with respect to the character, professionalism,
due care, loyalty, expertise or reputation of the Advisors Indemnitee or any action or inaction by the Advisor Indemnitees. The
foregoing indemnity agreement shall be in addition to any rights that any indemnified person may have at common law orotherwise.

 

If
the Advisor Indemnitees are requested or required to appear as a witness in any action brought by or on behalf of or against the
Company or any affiliate of the Company in which the Advisor is not named as a defendant, the Company agrees to reimburse the
Advisor for all expenses incurred by such person in connection with such person appearing and preparing to appear as a witness,
including, without limitation, the fees and disbursements of the Advisor’s legal counsel.

 

	7.	Confidential
    Information

 

All
information supplied by one party to another party in connection with this Agreement shall be given in confidence. Neither of
the parties shall disclose any such information to any third party without prior written consent of the other party. Each party
shall take such precautions, contractual or otherwise, as shall be reasonably necessary to prevent unauthorized disclosure of
such information by their employees during the term of this Agreement and for a period of two (2) years thereafter.

 

	8.	Entire
    Agreement

 

This
Agreement contains the entire agreement among the parties relating to the subject matter hereof and supersedes any and all prior
agreements or understandings, written or oral, between the parties related to the subject matter hereof. No modification of this
Agreement shall be valid unless made in writing and signed by both of the parties hereto.

 

    	 	5	 

    	 

    

 

	9.	Governing
    Law

 

This
Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Puerto Rico without reference
to conflict of laws principles.

 

	10.	Waiver

 

The
waiver by either party of any breach or failure to enforce any of the terms and conditions of this Agreement at any time shall
not in any way affect, limit, or waive such party’s right thereafter to enforce and compel strict compliance with every
term and condition of this Agreement.

 

	11.	No
    Guarantee of Performance

 

The
parties hereto acknowledge and agree that the Advisors cannot guarantee the results or effectiveness of any of the Services
to be performed by Advisors. Rather, the Advisors shall conduct their operations and provide their services in a
professional manner and in accordance with good industry practice and all federal, state and local laws. Consultant will use
its best efforts and does not promise or guarantee results.

 

	12.	Further
    Assurances

 

At
any time or from time to time after any issuance of securities, the parties agree to cooperate with each other, and at the request
of the other party, to execute and deliver any further instruments or documents and to take all such further action as the other
party may reasonably request in order to evidence or effectuate the consummation of such issuance.

 

	13.	Severability

 

The
parties agree to replace any such invalid or unenforceable provision with a new provision that has the most nearly similar permissible
economic and legal effect.

 

	14.	Arbitration

 

Any
controversy or claim arising out of or relating to this Agreement that cannot be resolved by the Parties shall be settled by binding
arbitration. There shall be a single arbitrator selected to resolve any such controversy. The arbitrator shall apply the substantive
law of the State of California, or federal law, if California law is preempted. The arbitration shall be conducted in Santa Monica,
California, unless otherwise mutually agreed. Judgment on the award rendered by the arbitrator may be entered in any court having
jurisdictionthereof.

 

	15.	Attorney’s
    Fees

 

In
the event any party to this Agreement employs an attorney to enforce anyof the terms of the Agreement, the prevailing party shall
be entitled to recover its actual attorney’s fees and costs, including expert witnessfees.

 

The
parties represent and warrant that, on the date first written above, they are authorized to enter into this Agreement in its entirety
and duly bind their respective principals by their signatures below.

 

    	 	6	 

    	 

    

 

This
Agreement shall be effective as of the date first written above.

 

	Blockchain
    Industries, Inc. (“BII”)	 	Kinerja
    Pay Corp (“KPAY”)
	 	 	 
	 	/s/:
    Patrick Moynihan	 	 	/s/:
    Edwin W.Ng
	Name:	Patrick
    Moynihan	 	Name:	Edwin
    Ng
	Title:	Chief
    Executive Officer	 	Title:	Chairman
    & Chief Executive Officer

 

	Fintech
    Financial Consultants, Inc. (“FFCI”)	 
	 	 
		/s/:Anthony Evans

        
	
	Name:	Anthony
                                         Evans

        
	 
	Title:	Chief Executive Officer

                                                                                
	 

 

    	 	7Exhibit 10.4

 

CHANGE OF CONTROL AND NON-COMPETE
AGREEMENT

 

THIS CHANGE OF CONTROL AND NON-COMPETE AGREEMENT
(this “Agreement”) is entered into as of the 16th day of March, 2018, by and between First Federal Bank of the Midwest,
a federal savings bank (the “Company”), and Gregory R. Allen, an individual (the “Employee”).

 

WITNESSETH:

 

WHEREAS, the Employee is currently employed
by the Company;

 

WHEREAS, as a result of the skill, knowledge
and experience of the Employee, the Company believes it is in the best interest of the Company to provide the Employee with a sense
of security to encourage the Employee to remain an employee of the Company; and

 

WHEREAS, the Employee is currently covered
by an employment agreement dated September 27, 2007 (the “Employment Agreement”) which is currently scheduled to expire
on December 31, 2019;

 

WHEREAS, the Company and the Employee desire
to enter into this Agreement, to be effective as of the expiration of the Employment Agreement, provided that Employee is actively
employed by the Company at that time, to set forth their understanding as to their respective rights and obligations in the event
of the termination of Employee's employment under the circumstances set forth in this Agreement;

 

WHEREAS, the Company and Employee wish to
document the Employee’s consent to Employee’s transfer to a new position with the Company on the terms set forth in
Exhibit A and to acknowledge that the change in Employee’s role and compensation shall not constitute “good reason”
under sections 1(j) and 5(d) of the Employment Agreement;

 

NOW, THEREFORE, in consideration of the
premises and mutual covenants herein contained, the Company and the Employee hereby agree as follows:

 

1.             Term.
The term of this Agreement shall begin upon expiration of the Employment Agreement, provided that Employee is actively employed
by the Company at that time, and shall continue through December 31, 2020, unless sooner terminated for Just Cause, as defined
in this Agreement. This Agreement shall automatically renew for additional one year periods following the original term, at the
end of each subsequent one year period, upon the same terms and conditions unless the Company provides at least 30 days prior notice
of its intent not to renew.

 

     

     

    

 

2.             Termination of Employment.

 

(a)           Termination
by the Company in Connection with a Change of Control. In the event that the employment of the Employee is terminated by the
Company, or its successors or assigns, at any time during the term of this Agreement for any reason other than Just Cause within
six months prior to a Change of Control (hereinafter defined) or within one year after a Change of Control and provided that Employee
has executed a Release pursuant to Section 2(g) below, then the following shall occur:

 

(i)       The
Company shall promptly pay to the Employee or to his beneficiaries, dependents or estate an amount equal to two times the Employee's
current annual base salary and two times the Employee’s five year average annual short term cash bonus;

 

(ii)       The
Company shall pay the premiums required to maintain coverage for the Employee and his eligible dependents under the health insurance
plan of the Employer in which the Employee is a participant immediately prior to the Change of Control of the Company in accordance
with the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, until the earliest of (A) the first anniversary of
the termination of the Employee's employment or (B) the date on which the Employee is eligible to participate in another employer’s
comparable health insurance plan as a full-time employee; and

 

(iii)       The
Employee shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment
or otherwise, nor shall any amounts received from other employment or otherwise by the Employee offset in any manner the obligations
of the Company hereunder, except as specifically stated in clause (ii) above.

 

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

 

(b)           Termination
by the Employee in Connection with a Change of Control. The Employee may voluntarily terminate the Employee's employment pursuant
to this Agreement within twelve months following a Change of Control and shall be entitled to compensation as set forth in Section
2(a) of this Agreement in the event that, without the Employee’s express written consent, there is:

 

(i)       an
assignment by the Company to the Employee of any duties that are materially inconsistent with his positions, duties, responsibilities
and status with the Company immediately prior to such Change of Control;

 

    	 	-2-	 

     

    

 

(ii)       a
material change in the Employee’s reporting responsibilities, titles or offices as an employee and as in effect immediately
prior to such a Change of Control; or

 

(iii)       a
removal of the Employee from or a failure to re-elect the Employee to the office of Market Area Executive of the Company, except
in connection with Just Cause, or the Employee’s death;

 

(iv)       a
reduction by the Company in the Employee’s base salary, as in effect immediately prior to the Change of Control;

 

(v)       a
relocation of the principal executive office of the Company outside of the Fort Wayne, Indiana area or, a requirement that the
Employee be based anywhere other than an area in which the Company’s principal executive office is located, except for required
travel on business of the Company to an extent substantially consistent with the Employee’s present business travel obligations;

 

(vi)       a
failure by the Company to provide the Employee with the same fringe benefits that were provided to the Employee immediately prior
to a Change of Control, or with a package of fringe benefits (including paid vacations) that, though one or more of such benefits
may vary from those in effect immediately prior to such Change of Control, is substantially comparable in all material respects
to such fringe benefits taken as a whole;

 

(vii)       a
failure by the Company to obtain the assumption of and agreement to perform this Agreement by any successor as contemplated in
Section 7 hereof; or

 

(viii)       a
failure by the Company to comply with any material provision of this Agreement.

 

(c)           In
the event that payments pursuant to this Agreement, either alone or together with any other payments that are made by the Company
to the Employee, would constitute a “parachute payment” within the meaning of Section 280G(b)(3) of the Internal Revenue
Code of 1986, as amended (the “Code”), and the regulations promulgated thereunder (“Section 280G”), or
would result in the imposition of a penalty tax pursuant to Section 280G, such payments shall be reduced to the maximum amount
that may be paid under Section 280G without exceeding such limits. In the event a reduction in payments is necessary in order to
comply with the requirements of this Agreement relating to the limitations of Section 280G or applicable banking regulatory limits,
then such reductions shall be applied based on the following principles, in order: (i) the payment or benefit with the higher ratio
of the parachute payment value to present economic value (determined using reasonable actuarial assumptions) shall be reduced or
eliminated before a payment or benefit with a lower ratio; (ii) the payment or benefit with the later possible payment date shall
be reduced or eliminated before a payment or benefit with an earlier payment date; and (iii) cash payments shall be reduced prior
to non-cash benefits; provided that if the foregoing order of reduction or elimination would violate Code Section 409A, then the
reduction shall be made pro-rata among the payments or benefits otherwise due or payable (on the basis of the relative present
value of the parachute payments).

 

    	 	-3-	 

     

    

 

(d)           Death
of the Employee. This Agreement shall automatically terminate upon the death of the Employee.

 

(e)           “Golden
Parachute” Provision. Any payments made to the Employee pursuant to this Agreement or otherwise are subject to and conditioned
upon compliance with 12 U.S.C. §1828(k) and any regulations promulgated thereunder.

 

(f)           Definition
of “Change of Control”. A “Change of Control” shall have the meaning set forth in Section 409A(a)(2)(A)(v)
of the Code.

 

(g)           As
a condition to receiving any payments under Section 2 of this Agreement, the Employee shall agree to release the Companies and
all of their affiliates and subsidiaries, employees, directors and successors (the “Released Parties”) from any and
all claims that the Employee may have against the Released Parties through the date of such release (the “Release”)
in a form similar to the attached Exhibit B, and no payments shall be made under Section 2 until such Release has become irrevocable,
effective and enforceable. In the event that the release execution period spans two tax years, no amount will be payable under
Section 2 until the second tax year.

 

3.             Confidential
Information. The Employee acknowledges that the Employee has learned and has access to confidential information regarding the
Company and its customers and businesses. The Employee agrees and covenants not to disclose or use for the Employee's own benefit,
or the benefit of any other person or entity, any confidential information, unless or until the Company consents to such disclosure
or use or such information becomes common knowledge in the industry or is otherwise legally in the public domain. The Employee
shall not knowingly disclose or reveal to any unauthorized person any confidential information relating to the Company, its parent,
subsidiaries or affiliates, or to any of the businesses operated by them, and the Employee confirms that such information constitutes
the exclusive property of the Company. The Employee shall not otherwise knowingly act (a) to the material detriment of the Company,
its subsidiaries, or affiliates, or (b) in a manner which is inimical or contrary to the interests of the Company.

 

4.             Nonassignability.
Neither this Agreement nor any right or interest hereunder shall be assignable by the Employee, the Employee's beneficiaries or
legal representatives without the Company's prior written consent; provided, however, that nothing in this Section 4 shall preclude
(a) the Employee from designating a beneficiary to receive any benefits which were payable hereunder prior to the Employee's death,
or (b) the executors, administrators, or other legal representatives of the Employee or the Employee's estate from assigning any
rights hereunder to the person or persons entitled thereto. The Company may assign this Agreement and Company’s rights hereunder
in whole, but not in part, to any entity with or into which either Company may hereafter merge or consolidate or to which the Company
may transfer all or substantially all of its assets, provided that the assignee assumes all of the Company’s obligations
under this Agreement, either by operation of law or by express written agreement.

 

    	 	-4-	 

     

    

 

5.             Non-Solicitation Provisions.If the Employee
terminates his employment with the Company for any reason other than in accordance with Section 2(b) of this Agreement, the Employee
agrees that, for a period of 12 months following the termination of the Employee's employment, the Employee shall not (i) either
as principal, agent, owner, shareholder or investor of more than 3% of the stock, officer, director, partner, lender, independent
contractor, consultant or in any other capacity, engage in, have a financial interest in or be in any way connected or affiliated
with, or render advice or services to, any person or entity that engages in any activity which would compete in any way with the
business operated by the Company in the counties where they do business, or (ii) directly or indirectly, solicit, divert, take
away or interfere with, or attempt to solicit, divert, take away or interfere with, the relationship of the Company or any of their
subsidiaries with any person or entity who is or was a customer, or employee or supplier of the Company or any of their subsidiaries
immediately prior to the date of termination. Notwithstanding the foregoing, nothing contained herein shall prevent the Employee
from engaging directly or indirectly in any banking or financial industry business in a county or counties in which the Company
is doing business if the only activity conducted in such county or counties is the servicing of loans.

 

The parties hereto acknowledge and agree that
the duration and area for which the covenant not to compete and other covenants set forth in this Agreement are to be effective
are fair and reasonable and are reasonably required for the protection of the Companies. In the event that any court determines
that the time period or the area, or both of them, are unreasonable as to any covenant and that such covenant is to that extent
unenforceable, the parties hereto agree that the covenant shall remain in full force and effect for the greatest time period and
in the greatest area that would not render it unenforceable.

 

6.             No
Attachment. Except as required by law, no right to receive payment 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
of assignment by operation of law, and any attempt, voluntary or involuntary, to effect any such action shall be null, void and
of no effect.

 

7.             Binding
Agreement. This Agreement shall be binding upon, and inure to the benefit of, the Employee and the Company and their respective
permitted successors and assigns.

 

8.             Amendment
of Agreement. This Agreement may not be modified or amended, except by an instrument in writing signed by the parties hereto.

 

9.             Waiver.
No term or condition of this Agreement shall be deemed to have been waived, nor shall there be an 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 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 or as to any act other than
the act specifically waived.

 

    	 	-5-	 

     

    

 

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

 

11.           Headings.
The headings of the 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.

 

12.           Governing
Law; Regulatory Authority. This Agreement has been executed and delivered in the State of Ohio and its validity, interpretation,
performance and enforcement shall be governed by the laws of the State of Ohio, except to the extent that federal law is governing.
If this Agreement conflicts with any applicable federal law as now or hereafter in effect, then federal law shall govern.

 

13.           Effect
of Prior Agreements. This Agreement contains the entire understanding between the parties hereto and supersedes any prior employment
agreement between the Company or any predecessor of the Company and the Employee; provided that the Employment Agreement between
the Company and the Employee dated September 27, 2007 shall remain in full force and effect until the term of this Agreement begins.

 

14.           Notices.
Any notice or other communication required or permitted pursuant to this Agreement shall be deemed delivered if such notice or
communication is in writing and is delivered personally or by facsimile transmission or is deposited in the United States mail,
postage prepaid, addressed as follows:

 

If to the Company:

 

First Federal Bank of the Midwest.

601 Clinton St.

Defiance, OH 43512

 

If to the Employee:

 

Gregory R. Allen

1801 Firestone Dr

Findlay, OH 45840

 

    	 	-6-	 

     

    

 

[signature page follows]

 

    	 	-7-	 

     

    

 

IN WITNESS WHEREOF, the Company has caused
this Agreement to be executed by its duly authorized officers, and the Employee has signed this Agreement, each as of the day and
year first above written.

 

	Attest:	 	 
	 	 	EMPLOYEE
	 	 	 
	 	 	By	/s/ Gregory R. Allen
	 	 	 	Gregory R. Allen
	 	 	 
	 	 	FIRST FEDERAL BANK OF THE MIDWEST
	 	 	 
	/s/ Danielle Figley	 	By	/s/ Donald P. Hileman

 

    	 	-8-	 

     

    

 

EXHIBIT A

 

Terms of Employment as Market
Area Executive – Fort Wayne

 

Reporting to: Donald P. Hileman, President
and CEO.

 

Base Compensation: $8,461.53 bi-weekly;
annualized at $220,000.00, with your next merit review in February 2019. Effective upon execution of this Agreement, this pay rate
will be given retroactive effect to January 8, 2018 and you will be paid a lump sum payment for the retroactive increase with the
first paycheck after that date.

 

Incentive Compensation:

		·	Annual Incentive opportunity equal to 25% of base salary upon satisfaction
of pre-established performance criteria. 

		·	Commissions based on loan production and collected fees.

		·	Transition incentive bonuses up to $60,000 payable upon satisfaction
of various short-term performance goals related to the Fort Wayne market growth.

		·	Annual Restricted Stock Unit grant, with a value up to 10% of base
salary upon satisfaction of pre-established performance criteria and subject to 3 year cliff vesting.

		·	Upon execution of this Agreement, a one-time Restricted Stock Unit
grant for 3,000 shares of FDEF common stock, subject to 3 year cliff vesting 

 

Other Benefits:

		·	Company provided vehicle.

		·	Direct payment and/or reimbursement of
expenses related to membership fees for approved social or civic organizations and one country club. 

 

Please note that the compensation described
above will be reviewed on an annual basis and is subject to change with 30 day notice.

 

    	 	-9-

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