Document:

EX-10.3

Exhibit 10.3

PAUL F. WALSH

RESTRICTED STOCK UNIT

AWARD AGREEMENT

eFunds Corporation

2006 STOCK INCENTIVE PLAN

THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Agreement”) is made and entered into as of the
     day of      by and between eFunds Corporation, a corporation incorporated under the laws
of the State of Delaware, United States of America, and Paul F. Walsh (“Recipient”).

RECITALS:

WHEREAS, the Company has adopted the eFunds Corporation 2006 Stock Incentive Plan, as the same
may be amended from time to time (the “Plan”), pursuant to which it may grant Awards to Eligible
Persons;

WHEREAS, all capitalized and undefined terms used herein shall have the meanings given to them
in the Plan, unless otherwise defined herein;

WHEREAS, Recipient has provided or is expected to provide valuable services to the Company or
its Affiliates as an officer, employee or consultant of or to the Company or any of its Affiliates
and the Company desires to recognize the Recipient for such services by granting to the Recipient
an award (the “Award”) upon and subject to the terms and conditions of this Agreement and the Plan;
and

WHEREAS, Recipient and the Company are parties to that certain Retention Agreement, dated as
of November 3, 2004 (the “Retention Agreement”), and that certain Amended and Restated Change in
Control Agreement, of even date therewith (the “Change in Control Agreement”).

NOW THEREFORE the parties hereto agree as follows:

	 	 	Section 1. Award; Vesting.

(a) The Company, effective as of the date of this Agreement, hereby grants to the Recipient,
and the Recipient hereby accepts from the Company, upon the terms and subject to the conditions,
limitations and restrictions set forth in this Agreement and the Plan, restricted stock units (the
“Restricted Stock Units”) convertible into 22,026 shares (the “Shares”) of the Company’s Common
Stock, par value $0.01 per share.

(b) Subject to the acceleration and forfeiture provisions set forth below, 33-1/3% of the
Restricted Stock Units shall vest and be converted into Shares on [February 19,      ] [September
19,      ], 33-1/3% shall vest and be converted into Shares on [February 19,      ] [September 19,
     ] and the remaining portion of the Restricted Stock Units shall vest and be converted into
Shares on [February 19,      ] [September 19,      ]. Any portion of the Restricted Stock Units
which is not vested or does not vest on Recipient’s “Termination Date” (as such term is defined in
the Retention Agreement) shall be immediately forfeited and Recipient shall retain no residual
rights therein whatsoever.

(c) As used herein, (i) an “Acceleration Event” shall mean Recipient’s death or “Disability”
(as such term is defined in the Retention Agreement) or the occurrence of an event requiring the
acceleration of the vesting and conversion of the Award under the Change in Control Agreement and
(ii) a Qualifying Termination shall mean any termination of Recipient’s employment with the Company
that is not an Acceleration Event or a termination described in Section 3(b) of the Retention
Agreement.

(d) If an Acceleration Event should occur, the Award shall, effective as of the date of any
such Event, vest in its entirety and be converted into Shares. In the event the Termination Date
occurs before [February 19,      ] [September 19,      ] under circumstances constituting a Qualified
Termination, two-thirds of the Award shall vest and be converted into Shares on the Termination
Date, with the balance of the Award being forfeited. If the Termination Date occurs after
[February 19,      ] [September 19,      ] under circumstances constituting a Qualified Termination,
any unvested portion of the Award shall vest and be converted into Shares on such Date.

Section 2. Issuance of Stock Certificate.

Any Shares into which all or a portion of the Restricted Stock Units are converted will be
transferred by book entry to an account designated by Recipient (or his heirs). Alternatively,
Recipient (or his heirs) may request that a stock certificate representing such Shares be issued to
Recipient (or his heirs).

	 	 	Section 3. Tax Withholding.

In order to provide the Company with the opportunity to claim the benefit of any income tax
deduction which may be available to it upon the conversion of the Restricted Stock Units, and in
order to comply with all applicable income tax laws or regulations, the Company may take such
action as it deems appropriate to ensure that all applicable income, withholding, social, payroll
or other taxes, which are the sole and absolute responsibility of the Recipient, are withheld or
collected from the Recipient. Recipient may, at the Recipient’s election (the “Tax Election”),
satisfy all or a portion of Recipient’s applicable tax obligations by (a) electing to have the
Company withhold a portion of the Shares otherwise to be delivered upon conversion of the
Restricted Stock Units having a fair market value equal to the Company’s minimum statutory
withholding rate multiplied by the amount of income recognized by Recipient in connection with such
conversion, (b) delivering to the Company shares of Common Stock having a fair market value equal
to the amount of such taxes or (c) delivering to the Company cash or a check in the amount of such
taxes. The Tax Election must be made on or before the date that the amount of tax to be withheld
is determined and if Recipient does not affirmatively select another of the above options,
Recipient will be deemed to have elected to satisfy Recipient’s tax obligations pursuant to option
(a) above.

	 	 	Section 4. No Transfer.

The Recipient shall not, directly or indirectly, sell, pledge or otherwise transfer or dispose of
any portion of the Restricted Stock Units or the rights and privileges pertaining thereto, other
than by will or the laws of descent and distribution. Neither the Restricted Stock Units nor the
Shares into which they are convertible shall be liable for or subject to, in whole or in part, the
debts, contracts, liabilities or torts of the Recipient, nor will they be subject to garnishment,
attachment, execution, levy or other legal or equitable process.

	 	 	Section 5. Certain Legal Restrictions.

The Company will not be obligated to sell or issue any Shares upon conversion of the Restricted
Stock Units or otherwise unless the issuance and delivery of such Shares complies, in the judgment
of the Company, with all relevant provisions of applicable law and other legal requirements
including, without limitation, any applicable securities laws and the requirements of any market or
stock exchange upon which the shares of the Company (including the Shares) may then be listed. As a
condition to the conversion of the Restricted Stock Units, the Company may require the Recipient to
make such representations and warranties as may be necessary to assure the availability of an
exemption from the registration requirements of any applicable securities laws. The Company shall
have no obligation to the Recipient, express or implied, to list, register or otherwise qualify any
Shares issued to the Recipient pursuant to the conversion of the Restricted Stock Units. Shares
issued upon the conversion of the Restricted Stock Units may not be transferred except in
accordance with applicable securities laws. At the Company’s election, any certificate evidencing
the Shares issued to the Recipient will bear appropriate legends restricting transfer under
applicable law.

	 	 	Section 6. Governing Law.

This Agreement shall be governed by, and construed and interpreted in accordance with, the law of
the State of Delaware, U.S.A., which shall be the proper law of this Agreement notwithstanding any
rules of conflict of laws or private international law therein contained under which any other law
would be made applicable.

	 	 	Section 7. Payments.

All cash payments hereunder shall be made in United States Dollars unless another currency is
selected at the discretion of the Company. Currency translations shall be made in accordance with
such methods and at such exchange rates as the Company may determine to be fair and appropriate in
its sole discretion.

	 	 	Section 8 Miscellaneous.

The following general provisions shall apply to the Restricted Stock Units granted pursuant to this
Agreement:

(a) Neither the Recipient nor any Person claiming under or through the Recipient will have any
of the rights or privileges of a stockholder of the Company in respect of any of the Shares
issuable upon the conversion of the Restricted Stock Units unless and until certificates
representing such Shares have been issued and delivered or, if Shares may be held in uncertificated
form, unless and until the appropriate entry evidencing such transfer is made in the stockholder
records of the Company; provided, however, that Recipient shall receive, as
additional compensation, payments equivalent to the dividend paid on a number of shares of the
Company’s Common Stock equal to the number of Shares subject to the Restricted Stock Units during
the period prior to their conversion into Shares.

(b) Subject to the limitations in this Agreement on the transferability by the Recipient of
the Restricted Stock Units and any Shares issued pursuant thereto, this Agreement will be binding
on and inure to the benefit of the successors and assigns of the parties hereto.

(c) If any provision of this Agreement is held to be illegal, invalid or unenforceable under
any applicable law, then such provision will be deemed to be modified to the minimum extent
necessary to render it legal, valid and enforceable, and if no such modification will render it
legal, valid and enforceable, then this Agreement will be construed as if not containing the
provision held to be invalid, and the rights and obligations of the parties will be construed and
enforced accordingly.

(d) This Agreement, together with the Plan, embodies the complete agreement and understanding
among the parties with respect to the subject matter hereof and supersedes and preempts any prior
written, or prior or contemporaneous oral, understandings, agreements or representations by or
among any of the parties that may have related to the subject matter hereof in any way. In the
event of any inconsistency or conflict between the provisions of this Agreement and the Plan, the
provisions of the Plan shall govern. Any question of administration or interpretation arising
under this Agreement shall be determined by the Committee, and such determination shall be final,
conclusive and binding upon all parties in interest.

(e) Nothing in this Agreement or the Plan shall be construed as giving the Recipient the right
to be retained as an officer, consultant, advisor, director or employee of the Company or any of
its Affiliates. In addition, the Company or an Affiliate may at any time dismiss the Recipient,
free from any liability or any claim under this Agreement, unless otherwise expressly provided in
this Agreement.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above
written.

eFunds Corporation Recipient

By:  By:
      

	 	 	 
	Laura DeCespedes

Executive Vice President, Human

Resources

	 	Paul WalshEX-10.1

MMA FINANCIAL, INC.

EMPLOYMENT AGREEMENT

GARY A. MENTESANA

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made as of the 14th day of
June, 2006, but effective as of January 1, 2006, (the “Effective Date”) by and between MMA
Financial, Inc., a Maryland corporation (“Employer”) and Gary A. Mentesana
(“Employee”).

WHEREAS, Employer and Employee are parties to an existing employment agreement dated as of
July 1, 2003 (the “Existing Agreement”); and

WHEREAS, Employer and Employee desire to amend and restate the Existing Agreement in its
entirety as of the Effective Date;

NOW, THEREFORE, in consideration of the foregoing, the mutual covenants hereinafter set forth,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Employer and Employee hereby agree as follows:

1. Employment and Duties. Employer agrees to continue to employ Employee, and
Employee agrees to continue to be employed by Employer, on the terms and conditions provided in
this Agreement. Employee shall have the duties and responsibilities set forth on the attached
Exhibit A and such other duties and responsibilities as are reasonably ancillary thereto as
determined from time to time by Employer. Employee agrees to devote Employee’s best efforts and
full time, attention and skill in performing the duties of his/her position. Provided that such
activity shall not violate any provision of this Agreement (including the noncompetition provisions
of Section 8 below) or materially interfere with his/her performance of Employee’s duties
hereunder, nothing herein shall prohibit Employee (a) from participating in any other business
activities approved in advance by Employer in accordance with any terms and conditions of such
approval, such approval not to be unreasonably withheld or delayed, (b) from engaging in
charitable, civic, fraternal or trade group activities, or (c) from investing in other entities or
business ventures.

2. Compensation. As compensation for performing the services required by this
Agreement, and during the term of this Agreement, Employee shall be compensated as follows:

(a) Base Compensation. From the Effective Date through December 31, 2006, Employer
shall pay to Employee a salary (“Base Compensation”) of $325,000 per annum, payable in
accordance with the general policies and procedures of Employer, but in any event no less
frequently than every two weeks, in substantially equal installments, subject to withholding for
applicable federal, state and local taxes. Assuming that notice of termination has not been given
under Section 7, Employee’s Base Compensation shall increase by $15,000 effective on each
of January 1, 2007 and January 1, 2008.

(b) Incentive Compensation.

(i) In addition to Employee’s Base Compensation, Employee shall be eligible to receive
additional compensation (“Incentive Compensation”) in the form of an annual bonus of up to
(A), for 2006, $275,000 for achievement by Municipal Mortgage & Equity, LLC (the “Company”) of its
threshold goal for cash available for distribution (“CAD”), $425,000 for achievement by the Company
of its target goal for CAD, or $575,000 for achievement by the Company of its superior goal for
CAD, (B) for 2007, $285,000, $460,000 or $610,000 for threshold, target and superior performance,
respectively, and (C) for 2008, $295,000, $495,000 or $645,000 for threshold, target and superior
performance, respectively. Employer shall set the annual CAD goals as part of the Company’s annual
budget process. If Employer determines to measure Company performance by different metrics than
threshold, target and superior CAD performance, Employer and Employee shall in good faith negotiate
such changes to the foregoing Incentive Compensation formula as may be reasonably appropriate to
enable Employee to be eligible for similar levels of Incentive Compensation based on the Company’s
performance.

(ii) Incentive Compensation shall take the form of cash and equity or equity-based awards in
the Company. Employer expects, and Employee understands, that the equity component of Incentive
Compensation will be sized such that approximately one-half of Employee’s total compensation for
each fiscal year shall be in the form of equity and equity-based awards, subject, however, to the
approval each year of the Company’s Compensation Committee and the availability of equity awards
under the Company’s Employee Share Incentive Plans in effect from time to time. Employee
understands and agrees that Incentive Compensation awards may vest over time, typically in four
annual installments. Incentive Compensation for any given fiscal year shall be determined no
later than 60 days after the last day of Employer’s fiscal year and each installment thereof paid
no later than the fifth (5th) day of the third month following the last day of
Employer’s fiscal year. Incentive Compensation shall be pro-rated for any partial fiscal years.
Other than as specifically set forth herein, if this Agreement is terminated for any reason during
any fiscal year for which Employee is eligible for Incentive Compensation, no Incentive
Compensation shall be payable to Employee for that fiscal year.

3. Employee Benefits. During the Term (as defined in Section 6), Employee and
Employee’s eligible dependents shall have the right to participate in any retirement, pension,
insurance, health or other benefit plan or program adopted by Employer (or in which Employer
participates) subject, in the case of a plan or program, to all of the terms and conditions
thereof, and to any limitations imposed by law. To the extent that Employee has similar benefits
under a plan or program established by any other entity, Employee shall nonetheless have the right
to the benefits provided by Employer’s plan or program; provided, however, that
where by the terms of any plan or program, or under applicable law, Employee may only participate
in one such plan or program, Employee shall have the option to limit participation to the plan or
program sponsored by Employer, or to such other plan or program. Employee shall have the right, to
the extent permitted under any applicable law, to participate concurrently in plans or programs
sponsored by others (including self-employment plans or programs) and in plans or programs
sponsored by Employer.

4. Vacation, Sickness and Leaves of Absence.

(a) Vacation and Sick Leave. Employee shall be entitled to five (5) weeks paid
vacation during each fiscal year. Employee shall provide Employer with reasonable notice of
anticipated vacation dates. Employee shall be entitled to such sick leave, with pay, as Employer
provides to other employees.

(b) Carry-Forward/Pay Out of Vacation and Sick Leave. Vacation or sick days that are
not taken in a given fiscal year may be carried over to the next fiscal year; provided, however,
that no more than a total of ten vacation days and ten sick days may be carried forward. In the
event of the expiration of the Term or the termination of this Agreement for any reason, Employer
agrees to compensate Employee for all unused vacation and sick days carried forward, plus all
unused vacation and sick days for the year of expiration or termination (assuming proportionate
accrual of such vacation and sick days during such year), such compensation not to exceed, however,
a total of ten vacation days and ten sick days.

(c) Leaves of Absence. Employee may also be granted leaves of absence with or without
pay for such valid and legitimate reasons as Employer, in its sole discretion, may determine.

5. Expenses. Employee shall be entitled to receive, within a reasonable period of
time after Employee has delivered to Employer an itemized statement thereof, and after presentation
of such invoices or similar records as Employer may reasonably require, reimbursement for all
necessary and reasonable expenses incurred by Employee in connection with the performance of the
duties described in Section 1 hereof. To the extent necessary to avoid characterizing any
reimbursement to Employee as deferred compensation under Section 409A of the Internal Revenue Code
of 1986, as amended (the “Code”), such reimbursements shall be submitted no later than March 1
following the close of the calendar year in which the expense was incurred by Employee and paid on
or before March 15th following the close of such calendar year. Amounts which are not
submitted within the required timeframe shall not be eligible for reimbursement hereunder.

6. Term. The term of this Agreement shall commence on the Effective Date and end on
December 31, 2008 (the “Expiration Date”), unless earlier terminated in accordance with the
provisions of Section 7 (the period that this Agreement is in effect being herein referred
to as the “Term”).

7. Termination and Termination Benefits.

(a) Termination by Employer.

(i) With Cause. Employer may terminate this Agreement for Cause (defined below) upon
ten days prior written notice to Employee. In the event that Employer terminates this Agreement
pursuant to this Section 7(a)(i), Employee shall be entitled to receive the Base
Compensation and the benefits to which Employee is entitled under this Agreement through the
Termination Date (defined in Section 7(g) below), payable within 30 days of the Termination
Date. As used in this Agreement, “Cause” shall mean (A) acts or omissions by Employee with
respect to Employer which constitute intentional misconduct or a knowing violation of law; (B)
receipt by Employee of money, property or services from Employer or from another person dealing
with Employer in violation of law or this Agreement, (C) breach by Employee of the provisions of
Section 8 below, (D) breach by Employee of the duty of loyalty to Employer, (E) gross
negligence by Employee in the performance of the duties assigned pursuant to Section 1
hereof, (F) repeated failure by Employee to perform the duties assigned pursuant to
Section 1 hereof, which failure is not cured to the satisfaction of Employer within 30 days
following delivery of written notice from Employer of such failure; provided that such cure
period shall be available to Employee on only two occasions, (G) violation of Employer’s policies
with respect to alcohol or drug use or abuse, or (H) Employee pleaded guilty or no contest to or
is convicted of any criminal offense (other than minor traffic violations).

(ii) Unsatisfactory Performance. Employer may terminate this Agreement for
unsatisfactory job performance in the event Employee fails to achieve stated goals or Employee’s
performance is materially below Employer’s expectations. Employer shall not terminate Employee
under this Section 7(a)(ii) unless Employer shall have given Employee written notice of
such unsatisfactory performance and Employee shall fail to cure such performance within ninety (90)
days of such notice. In the event of termination under this Section 7(a)(ii), Employee
shall be paid Employee’s Base Compensation and all other benefits to which Employee is entitled
under this Agreement up through the effective date of termination. Employee shall also receive, as
severance pay, an amount equal to twelve (12) months’ Base Compensation.

(iii) Without Cause. Employer may terminate this Agreement without Cause upon 90 days
prior written notice to Employee. In the event that Employer terminates this Agreement pursuant to
this Section 7(a)(iii), Employee shall be entitled to receive (x) Employee’s Base
Compensation and the benefits to which Employee is entitled under this Agreement through the
Termination Date, plus (y) the Proportionate Share (as defined in Section 7(g)) of
Employee’s Incentive Compensation, plus (z) severance payments in an aggregate amount equal to the
greater of (A) twelve months’ Base Compensation and (B) the Base Compensation that Employee would
have received from the Termination Date through the Expiration Date; provided, however, that in the
event of a termination without Cause within eighteen (18) months after a Change in Control (as
defined in Section 7(f)), the severance amount shall be equal to three years’ Base
Compensation plus three times Employee’s maximum Incentive Compensation opportunity set forth in
Section 2(b)(i).

(iv) Disability. If a Disability (defined below) prevents the Employee from
performing the duties assigned to Employee under Section 1 hereof, Employer may terminate
this Agreement upon 30 days prior written notice to Employee. In the event that Employer
terminates Employee pursuant this Section 7(a)(iv), Employee shall be entitled to receive
(x) Employee’s Base Compensation and the benefits to which Employee is entitled under this
Agreement through the Termination Date, plus (y) the Proportionate Share (as defined in Section
7(g)) of Employee’s Incentive Compensation, plus (z) severance payments in an aggregate amount
equal to the greater of (A) twelve months’ Base Compensation and (B) the Base Compensation that
Employee would have received from the Termination Date through the Expiration Date. Nothing in
this Section 7(a)(iv) shall be construed to limit Employee’s rights under or vary the terms
of any disability insurance policy provided by Employer in any manner adverse to Employee.
Employee shall be considered to have a “Disability” if Employee is unable to perform the
duties assigned to Employee under Section 1 hereof due to illness, physical or mental
disability or other incapacity for a total of 120 or more business days during any twelve month
period.

(b) Termination by Employee. Employee may terminate this Agreement for Good Reason
(defined below) upon 30 days prior written notice to Employer. In the event that Employee
terminates this Agreement pursuant to this Section 7(b), Employee shall be entitled to
receive (x) Employee’s Base Compensation and the benefits to which Employee is entitled under this
Agreement through the Termination Date, plus (y) the Proportionate Share (as defined in Section
7(fg) of Employee’s Incentive Compensation, plus (z) severance payments in an aggregate amount
equal to the greater of (A) twelve months’ Base Compensation and (B) the Base Compensation that
Employee would have received from the Termination Date through the Expiration Date; provided,
however, that in the event of a termination for Good Reason within eighteen (18) months after a
Change in Control (as defined in Section 7(g)), the severance amount shall be equal to
three years’ Base Compensation plus three times Employee’s maximum Incentive Compensation
opportunity set forth in Section 2(b)(i). As used in this Agreement, “Good Reason”
shall mean (i) the reduction by Employer of Employee’s Base Compensation without Employee’s
consent, (ii) the failure by Employer to provide in any material respect any of the material
payments or benefits to which Employee is entitled under this Agreement; (iii) a material reduction
or alteration in Employee’s duties by Employer, without Employee’s consent; provided that
Employee shall be deemed to have consented to such reduction or alteration in duties if Employee
does not object to such reduction or alteration in writing within 60 days of the implementation of
such reduction or alteration, or (iv) a situation where Employer, through a formal assignment of
duties or otherwise, requires Employee to take any act which would be a violation of federal, state
or local criminal law.

(c) Death Benefit. Notwithstanding any other provision of this Agreement, this
Agreement shall terminate on the date of Employee’s death. In such event, Employee’s estate shall
be entitled to receive an amount equal to twenty-four (24) months’ Base Compensation (the “Death
Benefit”), payable in accordance with Employer’s usual payroll practices, except that if Employer
receives any insurance proceeds with respect to the Employee’s death, an amount equal to the lesser
of such proceeds or any unpaid Death Benefit shall be paid to Employee’s estate in a lump sum
within five (5) business days of receipt by Employer.

(d) Severance Payments. Severance payments owing to the Employee under this
Section 7 shall be payable in accordance with Employer’s normal payroll schedule unless
Employer, in its sole discretion, elects to make a lump sum severance payment to Employee (which
payment shall be discounted at the one-year applicable federal rate to reflect the present value of
the aggregate severance payments); provided, however, that in the event of a termination under
Section 7(a)(iii) or (7)(b) within eighteen (18) months of a Change in Control,
severance shall be payable in full in a lump sum on the Termination Date without discounting.

(e) Payment of Deferred Compensation. To the extent that any amount payable under this
Section 7 would otherwise constitute Deferred Compensation (defined in subsection 7(g) below) if
paid in accordance with the provisions of this Section 7 (or would constitute Deferred Compensation
if paid pursuant to the exercise of any discretion by the Employer under this Section 7), then any
amount remaining unpaid as of the last day on which such amounts must be paid in order to avoid the
characterization of such amounts as Deferred Compensation shall be paid in a single lump sum on or
before such date. If, notwithstanding the forgoing, any amount payable under this Section 7 is
deemed to be Deferred Compensation, then such Deferred Compensation shall become payable only upon
the Employee’s Separation from Service (defined in subsection 7(g) below). Further, to the extent
that the Employee is a Specified Employee (defined in subsection 7(g) below), Deferred Compensation
payable in connection with a Separation From Service that must be delayed in order to comply with
Section 409A(a)(2)(B) of the Code shall not be made before the date which is six (6) months after
the date of the Employee’s Separation from Service (or, if earlier, the date of death of the
Employee). Any payment that is delayed in accordance with the forgoing sentence shall be made on
the first business day following the expiration of such six (6) month period.

(f) Vesting of Deferred Awards. In the event of a termination under
Section 7(a)(iii) (Without Cause), 7(a)(iv) (Disability), 7(b) (Good
Reason), or 7(c) (Death), or in the event this Agreement shall expire on the Expiration
Date without renewal, within eighteen (18) months following a Change in Control, Employee shall
become fully vested in any and all outstanding deferred share awards, options, or other
equity-based compensation previously awarded to Employee but not yet vested at the time of such
termination.

(g) Certain Definitions. For purposes of this Agreement:

(i) “Proportionate Share” shall mean the dollar amount of Employee’s Incentive
Compensation (determined in accordance with Employer’s usual and customary practices) that would
have been payable for the year in which the Termination Date occurs multiplied by a fraction, the
numerator of which shall be the number of days elapsed, as of the Termination Date, in the year of
termination, and the denominator of which shall be 360. Proportionate Share amounts shall be
payable as and when provided in Section 2(b)(ii).

(ii) “Termination Date” shall mean the effective date of termination of Employee’s
employment as specified in the written notice described in this Section 7.

(iii) "Change in Control” means:

(A) Any “Person,” as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as Amended (the “Act), or Persons acting in concert (other than
the Company, a subsidiary, any trustee or other fiduciary holding securities under an employee
benefit plan of the Company, or any corporation owned, directly or indirectly, by the shareholders
of the Company in substantially the same proportions as their ownership of shares of the Company),
is or becomes the “beneficial owners” (as defined in Rule 13d-3 under the Exchange Act), directly
or indirectly, of securities of the Company representing fifty percent (50%) or more of the
combined voting power of the Company’s then outstanding voting securities;

(B) during any period of two consecutive years, individuals who at the beginning of such
period constitute the Company’s Board of Directors (the “Board”) and any new director (other than a
director designated by a person who has entered into an agreement with the Company to effect a
transaction described in clause (A), (C) or (D) of this Section 7(f)(iii) whose election by
the Board or nomination for election by the Company’s shareholders was approved by a vote of at
least two-thirds (2/3) of the directors then still in office who either were directors at the
beginning of the period or whose election or nomination for election was previously so approved,
cease for any reason to constitute at least a majority thereof;

(C) the shareholders of the Company approve a merger, consolidation, recapitalization, or
reorganization of the Company, or a reverse share split of any class of voting securities of the
Company, or the consummation of any such transaction if shareholder approval is not obtained, other
than any such transaction which would result in at least seventy-five percent (75%) of the total
voting power represented by the voting securities of the Company or the surviving entity
outstanding immediately after such transaction being beneficially owned by persons who together
beneficially owned at least seventy-five percent (75%) of the combined voting power of the voting
securities of the Company outstanding immediately prior to such transaction, with the relative
voting power of each such continuing holder compared to the voting power of each such continuing
holder not substantially altered as a result of the transaction; provided that, for purposes of
this paragraph (C), such continuity of ownership (and preservation of relative voting power) shall
be deemed to be satisfied if the failure to meet such seventy-five percent (75%) threshold (or to
substantially preserve such relative voting power) is due solely to the acquisition of voting
securities by an employee benefit plan of the Company or such surviving entity or of any subsidiary
of the Company or such surviving entity; or

(D) the shareholders of the Company approve a sale of all or substantially all of the assets
of the Company.

Notwithstanding anything herein to the contrary, it shall not be a Change in Control if following a
transaction or series of related transactions described in Section 7(f)(iii), fifty percent
(50%) or more of the Company’s then outstanding voting securities are beneficially owned (as
defined in Rule 13d-3 of the Exchange Act) by Persons who were members of the Company’s senior
management immediately prior thereto.

(iv) "Deferred Compensation” means any amount that is deemed to be deferred
compensation under (and subject to) Section 409A of the Code.

(v) "Specified Employee" has the meaning given to such term by Section
409A(a)(2)(B)(i) of the Code.

(vi) “Separation From Service” means a separation from service within the meaning of Section
409A of the Code.

8. Covenant Not to Compete.

(a) Noncompetition and Non-Solicitation.

(i) Except as provided below, from and after the Effective Date and
continuing until the later of (A) 12 months following Employee’s last day of
employment or (B) the Expiration Date, Employee shall not without the prior
written consent of Employer become employed by, or undertake to work for,
directly or indirectly, whether as an advisor, principal, agent, partner,
officer, director, employee, shareholder, associate or consultant of or to,
any person, partnership, corporation or other business entity which is a
Major Competitor of Employer. As used herein, (x) “Major Competitor” shall
mean Charter Mac and its Affiliates, GMAC and its Affiliates, and any other
person or entity whose primary business lines include business lines in
which the Company or its subsidiaries are engaged, unless the net worth of
such person or entity (if privately held) or the market capitalization of
such company (if publicly held) is less than $200 Million and (y)
“Affiliate” shall mean any person or entity controlled by or under common
control with any other person or entity, whether by the ownership of, or the
right to control the voting of, voting securities, by contract, or
otherwise. Notwithstanding the foregoing, if Employer terminates Employee
without Cause under Section 7(a)(iii) of this Agreement, or Employee resigns
for Good Reason under Section 7(b), this Section 8(a)(i) shall not apply.

(ii) From and after the Effective Date and continuing until the later
of (A) twenty-four (24) months after Employee’s last day of employment or
(B) the Expiration Date, Employee shall not (w) solicit any employee of
Employer to change employment; (x) solicit any client, customer or investor
of Employer or any of its subsidiaries which closed (in any capacity) a
transaction with Employer or any of its subsidiaries during the last
thirty-six (36) months of Employee’s employment; (y) disclose proprietary or
confidential information of Employer or its subsidiaries, including without
limitation, tax structures and solutions, deal structures, pricing, customer
or client lists or information, revenues, expenses, or other similar
information; or (z) disparage the Company or any of its products, partners,
officers, directors, employees, affiliates, subsidiaries or agents in his or
her dealings with any person or entity within or outside of the Company,
except that statements made pursuant to legal process shall not be deemed to
violate this clause.

(b) Reasonable Restrictions. Employee acknowledges that the restrictions of
Section 8(a) above are reasonable, fair and equitable in scope, term and duration, are
necessary to protect the legitimate business interests of Employer, and are a material inducement
to Employer to enter into this Agreement. Employer and Employee both agree that in the event a
court shall determine any portion of the restrictions in Section 8(a) are not reasonable,
the court may change such restrictions, including without limitation the geographical restrictions
and the duration restrictions, to reflect a restriction which the court will enforce as reasonable.

(c) Specific Performance. Employee acknowledges that the obligations undertaken by
him/her pursuant to this Agreement are unique and that if Employee shall fail to abide by any of
the restrictions set forth in Section 8(a), Employer will suffer harm for which there is no
adequate remedy at law. Employee therefore confirms that Employer shall have the right, in the
event of a violation of Section 8(a), to injunctive relief to enforce the terms of this
Section 8 in addition to any other remedies available at law or in equity.

9. Indemnification. Employer hereby agrees to defend, indemnify and hold Employee
harmless, to the maximum extent allowed by law, from any and all liability for acts or omissions of
Employee performed in the course of Employee’s employment (or reasonably believed by Employee to be
within the scope of his/her employment); provided that such acts or omissions do not
constitute (a) criminal conduct, (b) willful misconduct, or (c) a fraud upon, or breach of
Employee’s duty of loyalty to, Employer. Employer shall at all times carry Director and Officer
liability insurance in commercially reasonable amounts, but in any event not less than Ten Million
Dollars ($10,000,000).

10. Miscellaneous.

(a) Complete Agreement. This Agreement constitutes the entire agreement among the
parties with respect to the matters set forth herein and supersedes all prior understandings and
agreements between the parties as to such matters. No amendments or modifications shall be binding
unless set forth in writing and signed by both parties.

(b) Successors and Assigns. Neither party may assign its rights or interest under
this Agreement without the prior written consent of the other party, except that Employer’s
interest in this Agreement may be assigned to a successor by operation of law or to a purchaser
purchasing substantially all of Employer’s business, and Employee’s benefits under this Agreement
may be assigned by operation of law to Employee’s heirs, devisees and personal representatives.
This Agreement shall be binding upon and shall inure to the benefit of each of the parties and
their respective permitted successors and assigns.

(c) Severability. Each provision of this Agreement is severable, such that if any
part of this Agreement shall be deemed invalid or unenforceable, the balance of this Agreement
shall be enforced so as to give effect as to the intent of the parties.

(d) Representations. Employer represents and warrants to Employee that it has the
requisite corporate power to enter into this Agreement and perform the terms hereof and that the
execution, delivery and performance of this Agreement have been duly authorized by all appropriate
company action.

(e) Construction. This Agreement shall be governed in all respects by the internal
laws of the State of Maryland (excluding reference to principles of conflicts of law). As used
herein, the singular shall include the plural, the plural shall include the singular, and the use
of any pronoun shall be construed to refer to the masculine, feminine or neuter, all as the context
may require.

(f) Compliance with Section 409A. To the extent that Section 409A of the Code applies
to any election or payment required under this Agreement, such payment or election shall be made in
conformance with the provisions of Section 409A of the Code.

(g) Notices. All notices required or permitted under this Agreement shall be in
writing and shall be deemed given on the date sent if delivered by hand or by facsimile (with
electronic confirmation of delivery), and on the next business day if sent by overnight courier or
by United States mail, postage prepaid, to each party at the following address (or at such other
address as a party may specify by notice under this section):

If to Employer:

MMA Financial, Inc.

621 East Pratt Street

Suite 300

Baltimore, Maryland 21202

Facsimile: (410) 727-5387

Attention: Chief Executive Officer

If to Employee:

Gary A. Mentesana

180 Rugby Road

Arnold, Maryland 21012

(g) Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed to be an original and all of which together shall constitute one instrument.

IN WITNESS WHEREOF, and intending to be legally bound, the parties have executed this
Agreement as of the date and year first above written.

1

EMPLOYER:

MMA FINANCIAL, INC.

	 	 	 
	 
	 	 
	
 
	 	By:/s/ Michael L. Falcone
	
 
	 	 
	
 
	 	Name: Michael L. Falcone

Title: CEO and President
	 
	 	 
	
 
	 	EMPLOYEE:
	
 
	 	 

/s/ Gary A. Mentesana

Gary A. Mentesana

2

Exhibit A

JOB DESCRIPTION

TITLE: Executive Vice President

DUTIES AND RESPONSIBILITIES:

(a) Leading Employer’s affordable housing business

(b) Assisting Employer with planning for the overall direction of the Company

(c) Serving on Employer’s Senior Staff

	(d)	 	Such other executive duties as may be reasonably requested from time to time by the CEO of
the Company

3

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