Document:

exv4w1

 

Exhibit 4.1

[Wauwatosa Holdings Logo]

	 	 	 	 	 
	Number

	 	 	 	Shares
	****

	 	INCORPORATED UNDER THE LAWS OF THE STATE OF WISCONSIN
	 	***********

	 	 	 
	 

	CUSIP 	 
	

	SEE REVERSE FOR CERTAIN RESTRICTIONS

  THIS CERTIFIES THAT ********SPECIMEN****************

  is the owner of **********************************************************************

FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK, PAR VALUE $.01 PER SHARE, OF

Wauwatosa Holdings, Inc.

(the “Company”), a corporation chartered under the laws of the State of Wisconsin.

     This Certificate is transferable only on the books of the Company upon the
surrender of the same properly endorsed. The interest in the Company represented by
this Certificate may not be retired or withdrawn except as provided in the Articles of
Incorporation or Bylaws of the Company. This security represents nonwithdrawable
capital and is not a deposit or account and is not federally insured or guaranteed.

     This Certificate is not valid unless countersigned and registered by the Transfer
Agent and Registrar.

     IN WITNESS WHEREOF, Wauwatosa Holdings, Inc. has caused this Certificate to be
executed by its duly authorized officers and has caused its seal to be hereunto affixed.

     DATED:

	 	 	 	 	 	 	 
	

	 	 	 	 	 	WAUWATOSA HOLDINGS, INC.
	 
	 	 	 	 	 	 
	

	 	 	 	By:	 	 
	 
	 	 	 	 	 	 
	

	 	SECRETARY
	 	 	 	PRESIDENT

 

 

WAUWATOSA HOLDINGS, INC.

INFORMATION CONCERNING AUTHORIZED SHARES

     The designations of the two classes of shares of the Company are: Preferred Stock, par
value $.01 per share, which may be divided into and issued in series by the Board of Directors, and
Common Stock, par value $.01 per share. The Company will upon request furnish any shareholder, in
writing and without charge, information as to the number of such shares authorized and outstanding
and a copy of the portions of the Articles of Incorporation and/or Board of Director resolutions
containing the designations, preferences, limitations and relative rights of all shares and any
series thereof and the authority of the Board of Directors to determine variations for future
series.

     The following abbreviations, when used in the inscription on the fact of this certificate,
shall be contained as through they were written out in full according to applicable laws or
regulations:

	 	 	 	 	 	 	 	 	 
	 

	 	TEN
	 	___ -
	 	as tenants in common
	 	UNIF GIFT MIN ACT -                      Custodian                     
	

	 	TEN
	 	___
	 	as tenants by the entireties
	 	(Cust)                            (Minor)
	

	 	JT TEN
	 	___
	 	as joint enants with right of
	 	under Uniform C___to Minors
	

	 	 	 	 	 	survivorship and not as tenants
	 	Act                                            
	

	 	 	 	 	 	in common
	 	(State)                 
	

	 	 	 	 	 	 	 	UNIF TRF MIN ACT - ___Custodian (until age ___)
	

	 	 	 	 	 	 	 	                    under Uniform Trans___
	

	 	 	 	 	 	 	 	(Minor)                                                
	

	 	 	 	 	 	 	 	to Minors Act                                        
	

	 	 	 	 	 	 	 	(State)               

Additional abbreviations may also be used though not in the above list.

     FOR VALUE RECEIVED,                                          hereby sell, assign and transfer unto

	 	 	 
	 
	 
	 	 
	 
	 
	 	 
	 
	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

	 
	 	 
	 
	(PLEASE PRINT OR TYPEWRITE SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE)

                                         Shares of Common Stock represented by the within Certificate, and
do hereby irrevocably constitute and appoint                                                                                 
Attorney to transfer the said shares on the books of the within named corporation with full power
of substitution in the premises.

	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	

	 	 	 	 	 	(Signature of
Assignor)               
	 
	 	 	 	 	 	 
	

	 	 	 	NOTICE:
	 	THE SIGNATURE TO THIS
ASSIGNMENT MUST CORRESPOND WITH
THE NAME AS WRITTEN UPON THE FACE
OF THE CERTIFICATE IN EVERY
PARTICULAR, WITHOUT ALTERATION OR
ENLARGEMENT OR ANY CHANGE
WHATEVER.
	 
	 	 	 	 	 	 
	SIGNATURE(S) GUARANTEED:
	 	 	 	 	 	 
	

	 	 	 	 	 	 
	

	 	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS
AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C.RULE 17Ad-18.exv10w1

 

EXHIBIT 10.1

WAUWATOSA SAVINGS BANK

EMPLOYEE STOCK OWNERSHIP PLAN

Effective January 1, 2005

 

 

WAUWATOSA SAVINGS BANK

EMPLOYEE STOCK OWNERSHIP PLAN

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	PREAMBLE

	 	 	 	 	1	 
	 
	 	 	 	 	 	 
	ARTICLE I          DEFINITION OF TERMS	 	 	2	 
	 
	 	 	 	 	 	 
	1.01

	 	Account or Employer Contribution Account
	 	 	2	 
	1.02

	 	Affiliate
	 	 	2	 
	1.03

	 	Anniversary Date
	 	 	2	 
	1.04

	 	Annual Addition
	 	 	2	 
	1.05

	 	Beneficiary
	 	 	2	 
	1.06

	 	Break in Service
	 	 	3	 
	1.07

	 	Code
	 	 	3	 
	1.08

	 	Compensation
	 	 	3	 
	1.09

	 	Disability
	 	 	4	 
	1.10

	 	Effective Date
	 	 	4	 
	1.11

	 	Employee
	 	 	4	 
	1.12

	 	Employer
	 	 	4	 
	1.13

	 	Employer Stock
	 	 	4	 
	1.14

	 	Entry Date
	 	 	4	 
	1.15

	 	ERISA
	 	 	4	 
	1.16

	 	Fund
	 	 	5	 
	1.17

	 	Highly Compensated Employee
	 	 	5	 
	1.18

	 	Hour(s) of Service
	 	 	5	 
	1.19

	 	Leave of Absence
	 	 	6	 
	1.20

	 	Leased Employee
	 	 	6	 
	1.21

	 	Participant
	 	 	6	 
	1.22

	 	Plan
	 	 	7	 
	1.23

	 	Plan Administrator
	 	 	7	 
	1.24

	 	Plan Year
	 	 	7	 
	1.25

	 	Primary Employer
	 	 	7	 
	1.26

	 	Retirement Date
	 	 	7	 
	1.27

	 	Trust
	 	 	7	 
	1.28

	 	Trustee
	 	 	7	 
	1.29

	 	Valuation Date
	 	 	7	 
	1.30

	 	Vesting Schedule Service
	 	 	7	 
	1.31

	 	Year of Service
	 	 	8	 
	 
	 	 	 	 	 	 
	ARTICLE II          PARTICIPATION	 	 	9	 
	 
	 	 	 	 	 	 
	2.01

	 	Eligibility
	 	 	9	 
	2.02

	 	Re-Employed Former Employees, Participants
	 	 	9	 

 i

 

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page
	2.03

	 	Transfer of Employment or Change in Covered Employee Status
	 	 	9	 
	2.04

	 	Participation After Normal Retirement Date
	 	 	10	 
	2.05

	 	Predecessor Employer
	 	 	10	 
	 
	 	 	 	 	 	 
	ARTICLE III          CONTRIBUTIONS AND ALLOCATIONS TO PARTICIPANTS’ ACCOUNTS	 	 	11	 
	 
	 	 	 	 	 	 
	3.01

	 	Employer Contributions
	 	 	11	 
	3.02

	 	Allocation of Employer Contributions and Forfeitures
	 	 	11	 
	3.03

	 	Limitations on Annual Additions
	 	 	12	 
	3.04

	 	Allocation of Income and Market Adjustments
	 	 	13	 
	3.05

	 	Participant Investment Diversification Elections
	 	 	13	 
	3.06

	 	Additional Investment Diversification
	 	 	15	 
	 
	 	 	 	 	 	 
	ARTICLE IV          VESTING	 	 	16	 
	 
	 	 	 	 	 	 
	4.01

	 	Full Vesting Dates
	 	 	16	 
	4.02

	 	Vesting Schedule
	 	 	16	 
	4.03

	 	Election of Former Vesting Schedule
	 	 	16	 
	4.04

	 	Forfeitures
	 	 	17	 
	4.05

	 	Resumption of Participation
	 	 	17	 
	 
	 	 	 	 	 	 
	ARTICLE V          DISTRIBUTIONS	 	 	19	 
	 
	 	 	 	 	 	 
	5.01

	 	Time of Distribution
	 	 	19	 
	5.02

	 	Valuation of Distribution
	 	 	19	 
	5.03

	 	Form of Distribution
	 	 	19	 
	5.04

	 	Required Distributions
	 	 	19	 
	5.05

	 	No Distributions Prior to Separation From Service
	 	 	20	 
	5.06

	 	Benefits Only from Fund
	 	 	20	 
	 
	 	 	 	 	 	 
	ARTICLE VI          EMPLOYER STOCK PROVISIONS	 	 	21	 
	 
	 	 	 	 	 	 
	6.01

	 	Loan Suspense Account, Allocation
	 	 	21	 
	6.02

	 	Voting Employer Stock
	 	 	21	 
	6.03

	 	Employer Stock Valuation
	 	 	21	 
	6.04

	 	ESOP Loans
	 	 	21	 
	6.05

	 	Direction for Employer Stock Account
	 	 	22	 
	6.06

	 	Dividends
	 	 	23	 
	6.07

	 	Certain Transactions Barred
	 	 	23	 
	6.08

	 	Limits on Rollover Sale
	 	 	23	 
	6.09

	 	Put Option
	 	 	24	 
	 
	 	 	 	 	 	 
	ARTICLE VII          ADMINISTRATION	 	 	25	 
	 
	 	 	 	 	 	 
	7.01

	 	Plan Administrator
	 	 	25	 
	7.02

	 	Authority of Plan Administrator
	 	 	25	 
	7.03

	 	Administrative Committee
	 	 	26	 
	7.04

	 	Committee Procedure
	 	 	26	 

 ii

 

 

TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page
	7.05

	 	Claims and Domestic Relations Order Review Procedures
	 	 	26	 
	 
	 	 	 	 	 	 
	ARTICLE VIII          RIGHTS OF PARTICIPANTS	 	 	28	 
	 
	 	 	 	 	 	 
	8.01

	 	No Contract of Employment
	 	 	28	 
	8.02

	 	Restrictions as to Payees
	 	 	28	 
	8.03

	 	Merger, Consolidation or Transfer
	 	 	28	 
	8.04

	 	USERRA
	 	 	28	 
	 
	 	 	 	 	 	 
	ARTICLE IX          AMENDMENT AND TERMINATION	 	 	29	 
	 
	 	 	 	 	 	 
	9.01

	 	Amendment
	 	 	29	 
	9.02

	 	Termination
	 	 	29	 
	9.03

	 	Non-Reversion
	 	 	29	 
	 
	 	 	 	 	 	 
	ARTICLE X          MISCELLANEOUS	 	 	31	 
	 
	 	 	 	 	 	 
	10.01

	 	Legislation Governs
	 	 	31	 
	10.02

	 	Indemnification
	 	 	31	 
	10.03

	 	Construction
	 	 	31	 
	10.04

	 	Headings
	 	 	31	 
	10.05

	 	Non-Discrimination
	 	 	31	 
	10.06

	 	Absence of Guaranty
	 	 	32	 
	10.07

	 	Service in More Than One Capacity
	 	 	32	 
	 
	 	 	 	 	 	 
	ARTICLE XI          TOP-HEAVY PROVISIONS	 	 	33	 
	 
	 	 	 	 	 	 
	11.01

	 	Application
	 	 	33	 
	11.02

	 	Determination of Top-Heavy Status
	 	 	33	 
	11.03

	 	Special Vesting, Minimum Contribution and Compensation Rules
	 	 	 33	 
	11.04

	 	Top-Heavy Definitions
	 	 	34	 

 iii

 

 

WAUWATOSA SAVINGS BANK

EMPLOYEE STOCK OWNERSHIP PLAN

PREAMBLE

     WHEREAS, Wauwatosa Savings Bank desires to create an Employee Stock Ownership Plan, as defined
in Section 4975(e)(7) of the Internal Revenue Code which is designed to primarily invest in
qualifying employer securities to the extent that such securities are available for purchase;

     NOW, THEREFORE, effective January 1, 2005, the Wauwatosa Savings Bank Employee Stock Ownership
Plan is hereby created as follows:

- 1 -

 

 

ARTICLE I

DEFINITION OF TERMS

     1.01 “Account or “Employer Contribution Account” shall mean records of the
following interests of a Participant in the Fund which shall be created and maintained by the
Trustee for each Participant on the basis of information provided by the Plan Administrator:

	 	(a)  	“Employer Stock Account” being the record of a Participant’s interest
in the Fund attributable to Employer Stock, including fractional shares, if any.
	 
	 	(b)  	“Investment Account” being the record of a Participant’s interest in
Fund assets other than Employer Stock.

     1.02 “Affiliate” means a corporation or other entity affiliated with the Primary
Employer and which constitutes either (1) a controlled group of corporations (within the meaning of
Section 414(b) as modified by Section 415(h) of the Internal Revenue Code); (2) a group of trades
or businesses under common control, whether or not incorporated (within the meaning of Section
414(c) as modified by Section 415(h) of the Internal Revenue Code); or (3) an affiliated service
group (within the meaning of 414(m) of the Internal Revenue Code) or deemed as such pursuant to
Internal Revenue Code Section 414(o).

     1.03 “Anniversary Date” means the last day of each Plan Year.

     1.04 “Annual Addition” means with regard to any Participant the sum (for any Plan
Year) of -

	 	(a)  	Employer contributions for the Plan Year;
	 
	 	(b)  	Participant contributions for the Plan Year;
	 
	 	(c)  	forfeitures credited to such Participant for the Plan Year; and
	 
	 	(d)  	amounts described in Sections 415(1)(2) and 419A(d)(2) of the Code.

     For purposes of applying the annual additions limitation under Section 415 of the Code, a
Participant’s compensation shall be determined in accordance with Section 415(c)(3) of the Code and
shall mean the Participant’s compensation (as described in Treasury Regulation Section
1.415-2(d)(1)) paid during the period for personal services actually rendered in the course of
employment with the Company, plus all amounts excluded from the Participant’s income for the period
under Code Section 125, 402(g)(3), 457 and, for limitation years after 2000, 132(f)(4), but
excluding other deferred compensation and other amounts that receive special tax treatment (as
described in Treasury Regulation Section 1.415-2(d)(3)). In computing an “Annual Addition”, all of
the Employer’s defined contribution plans (as defined in Section 414(i) of the Internal Revenue
Code) shall be aggregated.

     1.05 “Beneficiary” means any one or more primary or contingent beneficiaries
designated by the Participant to receive any benefits payable under this Plan on or after the

2

 

Participant’s death; except that a Participant’s surviving spouse, if any, shall be deemed
designated as his Beneficiary for 100% of a Participant’s Account balances under the Plan despite
any attempted designation to the contrary unless the surviving spouse consents to the contrary
designation in a writing signed by the spouse and witnessed by a plan representative or notary
public. Each Participant shall be permitted to name, change or revoke his designation of his
Beneficiary in writing on a form and in the manner prescribed by the Plan Administrator. The
designation on file with the Plan at the time of a Participant’s death shall be controlling.
Should a Participant fail to make a valid Beneficiary designation or leave no named Beneficiary
surviving, any benefits due shall be paid to such Participant’s spouse, if living; or if not
living, then in equal shares to any children (including adopted children) surviving such
Participant and to the descendants then living of a deceased child by right of representation; or
if the Participant dies leaving no spouse, children or descendants of children, then in equal
shares to the Participant’s parents then living. If such Participant leaves no named Beneficiary,
spouse, children, descendants of children or parents surviving, then any benefits due shall be paid
to such Participant’s estate.

     1.06 “Break in Service” means a twelve consecutive month period during which a
Participant fails to accrue an Hour of Service. Such period begins on the earlier of the date the
Participant resigns, is discharged, retires or dies or, if the Participant is absent for any other
reason, on the first anniversary of the first day of such absence (with or without pay) from the
Employer. If a Participant is absent by reason of (i) the pregnancy of the Participant, (ii) the
birth of a child of the Participant, (iii) the placement of a child with the Participant in
connection with an adoption of such child by such Participant, or (iv) caring for such child
immediately following such birth or placement, such Participant will not be treated as having
retired, resigned or been discharged and the period between the first and second anniversary of the
first day of such absence shall not be deemed a Break-in-Service. When any period of absence is
due to military service entitling a Participant to reemployment rights under federal law and the
Participant returns to work with the Employer following that absence, there will be no break in
service and the Participant will be credited with service for the entire period of that absence.

     1.07 “Code” means the Internal Revenue Code of 1986, and as it may be amended.

     1.08 “Compensation” means the total of all amounts paid or payable to an Employee
during a specified Plan Year treated as “wages” for purposes of income tax withholding under
Internal Revenue Code Section 3401(a) and all other payments of compensation by the Employer to the
Employee during the Plan Year for which the Employer is required to furnish the Employee a written
statement under Code Sections 6041(d) and 6051(a)(3); but determined without regard to any rules
that limit the remuneration included in wages based on the nature or location of the employment or
the services performed (such as the exception for agricultural labor in Internal Revenue Code
Section 3401(a)(2)) and reduced by all of the following items (even if includible in gross income):
reimbursements or other expense allowances, fringe benefits (cash and non-cash), moving expenses,
deferred compensation and welfare benefits. This definition is intended to conform to the
definition in Internal Revenue Code Section 414(s) and shall be interpreted accordingly.

3

 

     Notwithstanding the foregoing, (a) Compensation shall be deemed to include any amounts that
would have been included in an Employee’s Compensation in the absence of an Employee’s elective
deferral under a plan described in Internal Revenue Code Section 125, Employee Contributions under
Section 401(k) of the Code and qualified fringe benefits under Code Section 132(f)(1); and (b) an
Employee’s Compensation shall exclude his Compensation earned prior to his Entry Date and shall be
deemed to commence on the first day of the applicable payroll period coincident with or next
following participation in the Plan. No more than $210,000 of Compensation shall be taken into
account in any Plan Year. The dollar amount under the foregoing limit shall automatically adjust
when permissible in accordance with regulations promulgated by the Secretary of the Treasury.

     1.09 “Disability” means an impairment which causes the Participant to be totally
disabled under the Social Security Act.

     1.10 “Effective Date” means January 1, 2005.

     1.11 “Employee” shall mean any individual who is employed by the Employer, but
excluding (a) any non-resident aliens (b) temporary employees and (c) those who are members of a
collective bargaining unit covered by a collective bargaining agreement which (as a result of good
faith bargaining between the Employer and the representatives of such unit) does not provide for
their inclusion. A member of the Board of Directors is not eligible for participation in the Plan
unless he is also an Employee. No Leased Employee shall be considered an Employee covered by the
Plan, although the Employer will treat Leased Employees as though they were the Employer’s
employees for purposes of testing compliance with coverage tests under Code Section 410.

     1.12 “Employer” means the Primary Employer, Wauwatosa Holdings, Inc. and any
Affiliates of the Primary Employer which have been designated by the Primary Employer as Employers
participating in the Plan (referred to as “Participating Employers”) and which have accepted such
designation and agreed to be bound by the terms and conditions of this Plan. Employer shall
include any successor to the Primary Employer which adopts this Plan and joins in the corresponding
Trust. Employer shall also include any other entity which, with the consent of the Primary
Employer’s Board of Directors, adopts this Plan. By its adoption of this Plan, an adopting
Employer shall be deemed to appoint the Primary Employer, the Administrator and the Trustee its
exclusive agent to exercise on its behalf all of the power and authority conferred by this Plan or
by the Trust upon the Employer. The authority of the Primary Employer, Administrator and Trustee
to act as such agent shall continue until this Plan is terminated as to the adopting Employer and
the relevant Trust Fund assets have been distributed by the Trustee.

     1.13 “Employer Stock” shall mean common stock issued by Wauwatosa Holdings, Inc. and
considered “employer securities” under Section 409(1) of the Code.

     1.14 “Entry Date” means each January 1 and July 1.

     1.15 “ERISA” means the Employee Retirement Income Security Act of 1974; as amended.

4

 

     1.16 “Fund” shall mean all assets and their earnings which are held in the trust which
constitutes the funding vehicle hereunder.

     1.17 “Highly Compensated Employee” shall mean an Employee who during the year or
preceding year:

	 	(a)  	During the Plan Year or the preceding Plan Year was a 5% owner, or
	 
	 	(b)  	During the preceding Plan Year received compensation in excess of $80,000 (as
adjusted at the time and in the same manner as provided in Section 415(d).

In determining who is a Highly Compensated Employee, the Plan Administrator shall apply the rules
set forth in Section 414(q) of the Code and any regulations issued thereunder. For purposes of
determining Highly Compensated Employees, compensation shall be determined within the meaning of
Code Section 415(c)(3) and employers aggregated under Code Sections 414(b), (c), (m) or (o) shall
be treated as a single employer.

     1.18 “Hour(s) of Service” means:

	 	(a)  	Each hour for which an Employee is paid, or entitled to payment, for the
performance of duties. Such hours shall be credited to the applicable computation
period in which the duties are performed;
	 
	 	(b)  	Each hour for which an Employee is paid, or entitled to payment, directly or
indirectly, on account of a period of time during which no duties are performed
(irrespective of whether the employment relationship has terminated) including
vacation, holidays, sickness, disability, layoff, and Leaves of Absence, or similar
periods of non-working time; and
	 
	 	(c)  	Each hour for which back pay, irrespective of mitigation of damages, is awarded
retroactively for the period or periods to which the award pertains, each such hour
being counted only once. Such hours shall be credited to the applicable computation
period or periods to which the award or agreement for back pay pertains, rather than
the computation period in which the award, agreement or payment is made.

     In addition to the applicable rules specified above, all Hours of Service shall be credited to
the Employee in the applicable computation period in which payment is actually made or amounts
payable to the Employee become due pursuant to Department of Labor Regulations 2530.200b-2(c). In
the case of a payment which is made or due on account of a period of time during which an Employee
performs no duties, the number of Hours of Service to be credited shall be determined pursuant to
Department of Labor Regulations 2530.200b-2(b).

     Notwithstanding the foregoing, no more than 501 Hours of Service are required to be credited
under paragraphs (b) and (c) above to an Employee on account of any single continuous period during
which he performs no duties (whether or not such period occurs in a single computation period); no
Hours of Service need be credited to an Employee who is directly or

5

 

indirectly compensated, or entitled to compensation, on account of a period during which no
duties are performed if such compensation is made or due under a plan maintained solely for the
purpose of complying with applicable workmen’s compensation, unemployment compensation or
disability insurance laws; and no Hours of Service need be credited to an Employee for compensation
which solely reimburses an Employee for medically related expenses incurred by such Employee; the
same Hours of Service shall not be credited to an Employee under paragraphs (a), (b), or (c).

     Each Employee who is not paid on the basis of a specified amount of each hour worked shall be
credited with 45 hours worked, if so entitled under the provisions of this Section.

     Finally, Hours of Service will also be credited for any individual while performing services
for the Employer as a Leased Employee.

     1.19 “Leave of Absence” means any absence authorized by Employer provided that all
Employees under similar circumstances be treated alike in the granting of such Leaves of Absence
and provided further that the Participant returns within, or at the end of, the period of Leave of
Absence. An absence due to service in the armed forces of the United States shall be considered a
Leave of Absence provided that the absence is caused by a war or other emergency provided the
Employee returns to employment with the Employer within the period provided by applicable federal
law.

     Any Employee or Participant who fails to report for work at or before the expiration of his
Leave of Absence or within 90 days (or such other period as may be prescribed by law) after the
date on which he shall have the right to release from the armed forces shall for purpose of this
Plan be deemed to have terminated employment on the first day following the end of such period of
Leave of Absence.

     1.20 “Leased Employee” means any person leased by the Employer to perform services if
(a) such services are provided pursuant to an agreement between the Employer and any other
individual or organization; (b) such person has performed services for the Employer on a
substantially full-time basis for a period of at least one year; and (c) such services are
performed under primary direction or control by the Employer. Notwithstanding the above, an
individual will not be considered a Leased Employee if he is covered by a money purchase pension
plan (sponsored by the leasing company) providing a nonintegrated employer contribution rate of at
least 10% of compensation, full and immediate vesting, and immediate participation. Further, the
definition of what constitutes a Leased Employee shall be governed by the provisions of Section
414(n) of the Internal Revenue Code and corresponding Treasury regulations and rulings.

     1.21 “Participant” means each Employee who qualifies to participate in the Plan
pursuant to Section 2.01. Participants are further classified as follows:

	 	(a)  	“Active Participant” means, for any Plan Year, each Participant who has
been credited with 1,000 or more Hours of Service with the Employer during that Plan
Year.

6

 

	 	(b)  	“Inactive Participant” means, for any Plan Year, each Participant who
continues in the Employer’s employ, but is credited with fewer than 1,000 Hours of
Service during that Plan Year and who therefore does not qualify to share in any
allocations of Employer Contributions or forfeitures under the Plan for that Plan Year.

     1.22 “Plan” means the Wauwatosa Savings Bank Employee Stock Ownership Plan which
includes the Plan and the Trust, as they may be amended from time to time.

     1.23 “Plan Administrator” means the Primary Employer or other person, persons, or
entity as may be designated by the Primary Employer pursuant to Section 7.03.

     1.24 “Plan Year” means the twelve-month period beginning January 1 and ending December
31.

     1.25 “Primary Employer” shall mean Wauwatosa Savings Bank, its successors and assigns.

     1.26 “Retirement Date” means an Employee’s Normal Retirement Date or Disability
Retirement Date, whichever is applicable, as follows:

	 	(a)  	“Normal Retirement Date” means the date on which a Participant attains
age 65.
	 
	 	(b)  	“Disability Retirement Date” means the date on which a Participant is
determined to be disabled within the meaning of Section 1.09 hereof and has terminated
service with the Employer or an Affiliate because of such condition.

     1.27 “Trust” means the trust created by the agreement between the Primary Employer and
the Trustee.

     1.28 “Trustee” means the person, persons or entity from time to time acting as Trustee
or Trustees hereunder.

     1.29 “Valuation Date” means the last day of the Plan Year and such other date or dates
as the Plan Administrator may deem necessary or desirable.

     1.30 “Vesting Schedule Service” means time spent by an employee in the employment of
the Employer or an Affiliate, which is relevant for purposes of determining the percentage of a
Participant’s non-forfeitable or vested interest in his Employer Contribution Account. Vesting
Schedule Service shall mean each twelve (12) month period measured from the date on which the
Employee shall first perform an Hour of Service for the Employer and continuing through the earlier
of the date the Employee resigns, is discharged, retires or dies or, if the Employee is absent for
any other reason, on the first anniversary of the first day of such absence (with or without pay)
from the Employer. An Employee shall be credited with a year of Vesting Schedule Service for
vesting purposes for each complete twelve (12) month period during which the Employee is credited
with an Hour of Service. If an Employee is absent for any reason and returns to the employ of the
Employer before incurring a Break-in-Service, the Employee shall

7

 

receive credit for the period of absence up to a maximum of 12 months. Service
subsequent to a Break-in-Service will be credited as a separate period of employment. In addition,
for vesting purposes, a Participant, upon attaining age nineteen (19), will be credited with all
Years of Service with the Company between the ages of eighteen (18) and nineteen (19) after the
Effective Date of the Plan. Years of Service also include, for purposes of vesting, all years of
service prior to the Effective Date of this Plan recognized under the Company’s separate 401(k)
Plan. Notwithstanding the foregoing, service credit with respect to qualified military service
will be provided in accordance with Section 414(u) of the Code.

     1.31 “Year of Service” shall mean a 12-consecutive month period during which such
Employee completes 1,000 or more Hours of Service with the Employer or Affiliate. A Year of
Service shall begin with the 12-month period commencing on the first day on which the Employee is
entitled to be credited with an Hour of Service for the Employer or Affiliate. However, if an
Employee does not complete at least 1,000 Hours of Service in the first 12-month period of
employment, he shall have his Years of Service computed using the Plan Year, commencing with the
Plan Year which includes the first anniversary of the date on which the Employee is first entitled
to be credited with an Hour of Service for the Employer or an Affiliate.

8

 

ARTICLE II

PARTICIPATION

     2.01 Eligibility.

     Each Employee who is age 21 and completed one (1) Year of Service on the Effective Date shall
become a Participant on the Effective Date. Each other Employee shall become a Participant as of
the first Entry Date immediately following the date on which the Employee first meets both of the
following requirements:

	 	(a)  	the attainment of age 21, and
	 
	 	(b)  	the completion of a Year of Service.

     2.02 Re-Employed Former Employees, Participants.

     Former Participants and a former Employee who have previously satisfied the eligibility
requirements in Section 2.01 shall become eligible to participate in the Plan immediately upon
re-employment with the Employer.

     2.03 Transfer of Employment or Change in Covered Employee Status.

	 	(a)  	In the event a Participant is transferred from an Employer to a
non-participating unit of an Employer or to an Affiliate which has not adopted this
Plan (or is reclassified to non-covered Employee status), he shall receive no further
Employer contributions. As of the effective date such Participant is transferred (or
reclassified), he shall become a suspended Participant.
	 
	 	(b)  	His Account balance, if any, shall continue to share in the allocation of the
Fund earnings or losses pursuant to the Plan.
	 
	 	(c)  	His Plan benefit shall be distributed at the time of his later termination of
employment from such non- participating unit of the Employer or Affiliate in accordance
with the provisions of Article V.
	 
	 	(d)  	An Employee who is otherwise eligible to participate in the Plan but who is
employed by a non-participating unit of the Employer or by an Affiliate which has not
adopted this Plan (or is classified as a non-covered Employee) and is transferred to an
Employer (or to covered Employee status), shall be eligible to participate in the Plan
immediately if he would have met the eligibility requirements on the previous
applicable Entry Date. If such Employee would not meet the eligibility requirements on
such previous Entry Date, he shall become eligible to participate on the first Entry
Date pursuant to the eligibility requirements of Sections 2.01.

9

 

     2.04 Participation After Normal Retirement Date.

     If a Participant continues as an Employee after he reaches his Normal Retirement Date, he
shall continue to be a Participant in the Plan until his actual retirement.

     2.05 Predecessor Employer.

     In general, Years of Service under this Plan shall not include Service with a predecessor
employer unless the Employer so designates under the terms of this Plan by appropriate Board
resolution. If the Employer maintains the Plan of a predecessor employer, service as a common law
Employee for such predecessor employer shall be treated as service for the Employer. If the
predecessor employer was not a corporation, Years of Service shall not include service with the
predecessor employer as a partner or sole proprietor, unless otherwise so provided herein or in
appropriate Board resolutions of the Employer.

10

 

ARTICLE III

CONTRIBUTIONS AND ALLOCATIONS

TO PARTICIPANTS’ ACCOUNTS

     3.01 Employer Contributions.

	 	(a)  	The Employer agrees to pay into the Trust with respect to each Plan Year such
amounts, if any, as it may determine.
	 
	 	(b)  	Employer contributions may be in the form of cash, Employer Stock or other
property as the Employer may from time to time determine. Shares of Employer Stock and
other property will be valued at their then fair market value.
	 
	 	(c)  	Employer contributions shall be made before or as soon as reasonably possible
after the Employer’s fiscal year, without interest and within the time limit for
deductibility thereof by the Employer as specified by the Internal Revenue Code. The
Employer’s contribution for any particular Plan Year shall be limited in amount, so
that it does not exceed the amount which the Employer may lawfully deduct for federal
income tax purposes.

     3.02 Allocation of Employer Contributions and Forfeitures.

	 	(a)  	Employer contributions for any Plan Year and forfeitures which become allocable
pursuant to Section 4.04 hereof shall be allocated as of the Anniversary Date among
those Participants of the Employer who qualify as Active Participants for the Plan Year
and who remain in the Employer’s employ on such date in the ratio that each such
Participant’s Compensation for such year bears to the total compensation for all such
Participants for that year. Notwithstanding the foregoing, any employee who ceases to
be a Participant during the Plan Year because of death or attainment of his Retirement
Date shall be deemed to be a Participant and shall be eligible to share in such
allocation. The allocation of Employer contributions and forfeitures shall be made as
soon as practicable after the end of the Plan Year.
	 
	 	(b)  	The Employer Stock Account maintained for each Participant will be credited
with his allocable share of Employer Stock (including fractional shares) purchased and
paid for or contributed in kind under the ESOP, and with any stock dividends on
Employer Stock allocated to his Employer Stock Account. Any financed shares acquired
by the Trust shall initially be credited to a Loan Suspense Account as provided in
Section 6.01 and will be allocated to the Employer Stock Accounts of Participants only
as payments on the ESOP Loan are made by the Trustee. The number of financed Shares to
be released from the Loan Suspense Account for allocation to Participants’ Employer
Stock Accounts for each Plan Year shall be as provided under Section 6.01.
	 
	 	(c)  	The Investment Account maintained for each Participant will be credited
annually with his allocable share of Employer Contributions under the ESOP in cash,
with

11

 

	 	   	any forfeitures, and with any cash dividends on Employer Stock allocated to his
Employer Stock Account (other than currently distributed dividends). Such Account
will be debited for the Participant’s share of any cash payments made by the Trustee
for the acquisition of Employer Stock or for the payment of any principal and/or
interest on an ESOP Loan.

     3.03 Limitations on Annual Additions

     Except to the extent permitted under Section 414(v) of the Code, if applicable, the Annual
Addition that may be contributed or allocated to a Participant’s Account under the Plan for any
Limitation Year shall not exceed the lesser of:

	 	(a)  	$40,000, as adjusted for increases in the cost-of-living under Section 415(d)
of the Code, or
	 
	 	(b)  	100 percent of the Participant’s compensation, within the meaning of Section
415(c)(3) of the Code, for the Limitation Year.

     The Compensation limit referred to in (b) shall not apply to any Contribution for medical
benefits after separation from service (within the meaning of Section 401(h) or Section
419(A)(f)(2) of the Code) which is otherwise treated as an Annual Addition. The Annual Additions
with respect to Employer Stock released from the suspense account (by reason of Employer
Contributions used for payments on a securities acquisition loan) and allocated to Participants’
Company Stock Accounts shall be based upon the lesser of (A) the amount of such Employer
Contributions, or (B) the fair market value of such Employer Stock as of the allocation date.
Annual Additions shall not include any allocation attributable to proceeds from the sale of
Employer Stock by the Trust or to appreciation (realized or unrealized) in the fair market value of
Employer Stock.

     If the Employer is contributing to another defined contribution plan, as defined in Section
414(i) of the Code, then any Participant’s Annual Additions in such other plan shall be aggregated
with the Participant’s Annual Additions derived from this Plan for purposes of the limitation. If,
due to forfeitures, reasonable error in estimating compensation, or other limited facts and
circumstances as determined by the Commissioner, the Account balances or the Annual Additions to a
Participant’s Accounts would exceed the limitation described above, the aggregate of the Annual
Additions to this Plan and the Annual Additions to any other plan shall be reduced until the
applicable limitation is satisfied, with any correction first being made in the Employer’s 401(k)
plan and then this Plan. The reduction shall be treated the same as Forfeitures and shall be
allocated in accordance with Section 3.02 of the Plan to the Accounts of Participants who are not
affected by this limitation. If any amount cannot be reallocated under the foregoing provision,
such amount shall be deposited in a suspense account and allocated to the maximum extent possible
in succeeding years, provided that (i) no Employer Contributions are made until Section 415 of the
Code will permit their allocation, (ii) no investment gains or losses are allocated to such
suspense account, and (iii) the amounts in such suspense account are allocated at the earliest
possible date. For any C Corporation Year, if no more than one-third of the Employer contributions
with respect to that Plan Year are allocated to Highly Compensated Employees, then Annual Additions
shall not include (i) forfeitures of Employer Stock that was

12

 

acquired with an ESOP loan, or (ii) Employer contributions used to pay interest on an ESOP
loan.

     3.04 Allocation of Income and Market Adjustments

	 	(a)  	Within a reasonable time after the Anniversary Date and any other applicable
Valuation Date, the Trustee shall determine the fair market value of the Fund
(exclusive of contributions made as of such date or during the period since the last
preceding Valuation Date and exclusive of the values of Employer Stock, which is
separately appraised) at such date and the net change therein since the last preceding
Valuation Date. The net change in the Fund includes the increase (or decrease) in the
fair market value of the Fund (other than Employer Stock), interest income, dividends
and other income and gains (or loss) attributable to the Fund (other than any dividends
on allocated Employer Stock) since the preceding Valuation Date, reduced by any
expenses charged to the Fund since the last Valuation Date. The determination of the
net income (or loss) of the Trust shall not take into account any interest paid by the
Trust under an ESOP Loan. The net change shall be allocated among the Investment
Accounts of all Participants and former Participants as of the applicable Valuation
Date in proportion to the values of their respective investment Accounts as of the last
preceding Valuation Date less any withdrawals since the last Valuation Date.
	 
	 	(b)  	Any Employer Stock allocated to a Participant’s Employer Stock Account shall be
treated as a separate investment from the funds allocated to his Investment Account and
shall not share in any amounts allocated pursuant to this Section 3.04. Any increase
or decrease in the value of such Employer Stock shall be attributed solely to such
Participant’s Employer Stock Account. However, any income attributable to such
Employer Stock for a Plan Year shall be allocated to his Investment Account as of the
Valuation Date ending said Plan Year. Also, if any of such Employer Stock is sold, the
proceeds of such sale shall be deemed allocated to such Participant’s Investment
Account as of the Valuation Date coincident with or following the date of such sale and
such Employer Stock shall cease to be attributed to his Employer Stock Account as of
such Valuation Date.
	 
	 	(c)  	Notwithstanding the preceding provisions of this Section 3.04, if the Plan
Administrator determines that the method of allocating changes in value as provided in
the preceding provisions of this Section 3.04 is inappropriate, such method shall not
be followed and the Plan Administrator shall select an appropriate method (which shall
be nondiscriminatory) for allocating changes in value of the Fund.

     3.05 Participant Investment Diversification Elections.

     In accordance with Section 401(a)(28)(B) of the Code, each Participant who has completed at
least ten (10) years of Plan participation and who has attained age fifty-five (55) shall have the
investment diversification rights described in the following paragraphs:

13

 

	 	(a)  	During the ninety (90) day period following the close of the Plan Year in which
the Participant satisfied the foregoing age and service conditions, and during similar
periods in each of the next succeeding five (5) Plan Years, such eligible Participant
may, each year, elect to direct the Plan as to investment of up to twenty-five percent
(25%) of the Participant’s Employer Stock Account as of the most recent Plan allocation
date, reduced by the amount previously diversified under this Section. In the
Participant’s last election year, the preceding sentence shall be applied by
substituting “fifty percent (50%)” for “twenty-five percent (25%).”

	 	(b)  	The investment diversification election described in the preceding paragraph
(a) is subject to the following restrictions:

	 	(1)  	No election may be made unless at least three (3) investment
options have been made available to each eligible Participant.
	 
	 	(2)  	Eligible Participants may instead be offered the option to
direct the Plan to transfer the portion of the Participant’s Account that is
subject to the diversification election to another qualified defined
contribution plan of the Employer that offers at least three (3) investment
options, provided that the transfer is made no later than ninety (90) days
after the last day of the period during which such election can be made.
	 
	 	(3)  	The Plan Administrator may elect to distribute the portion of
the eligible Participant’s Account covered by the election under this Section
within ninety (90) days after the period during which the election may be made,
in lieu of providing the diversification opportunities described in (1) and (2)
above.

	 	(c)  	Eligible Participants shall make diversification elections in writing placed on
file with the Plan Administrator. The Plan Administrator shall advise the Trustee, and
the Trustee shall implement such investment elections within ninety (90) days after the
last day of the period during which the election can be made. Investment elections
shall remain in effect until changed, including the period after termination and before
final distribution. If the termination is due to death, the Participant’s Beneficiary
shall have the right to direct investments in accordance with this Section. Costs and
expenses attributable to such investment elections shall be charged to the accounts on
which behalf such costs and expenses are incurred.
	 
	 	(d)  	An eligible Participant or Beneficiary making an investment diversification
election shall thereby assume full responsibility for such decision. No person who is
otherwise a Plan fiduciary shall be liable for any loss, or by reason of any breach,
which may result from such person’s diversification election.

14

 

	 	(e)  	If a Participant has not completed ten (10) years of Plan participation prior
to the end of the Plan Year in which the Participant attains age fifty-five (55), the
election period described in paragraph (a) will begin with the Plan Year in which the
Participant completes ten (10) years of Plan participation.
	 
	 	(f)  	An eligible Participant may not make a diversification election if the fair
market value (determined at the Valuation Date immediately preceding the first day on
which the Participant is eligible to make such election) of the employer securities
acquired by or contributed to the Plan and allocated to the Participant’s account is
$500 or less.

     3.06 Additional Investment Diversification.

     In addition to the investment diversification alternative described in Section 3.05 above, a
Participant who has terminated employment on or after his Retirement Date and the Beneficiary of
Participant who has died shall be eligible to diversify the Participant’s Account into such
investment alternatives and on such terms as the Plan Administrator shall determine.

15

 

ARTICLE IV

VESTING

     4.01 Full Vesting Dates.

     The Participant’s interest in his Employer Contribution Account shall become fully vested in
him and nonforfeitable at the earliest of the following dates:

	 	(a)  	The date the Participant shall have completed at least such years of Vesting
Schedule Service as are required for 100% vesting under Section 4.02 below.
	 
	 	(b)  	The date of the Participant’s death while in the employ of the Employer or of
an Affiliate.
	 
	 	(c)  	The Participant’s attainment of his Normal Retirement Date or earlier
Disability Retirement Date.
	 
	 	(d)  	The date of termination of the Plan (or partial termination as to Participants
affected thereby) or the date of complete discontinuance of contributions by the
Employer at a time when the Participant is employed by the Employer or by an Affiliate.

     4.02 Vesting Schedule.

     Prior to the date that the Participant’s interest in his Employer Contribution Account becomes
fully vested in accordance with Section 4.01 of this Article, his current vested interest in such
Account shall be determined in accordance with the following:

	 	 	 	 	 
	Years of Vesting Schedule Service	 	Percent Vested	 
	Less than 2
	 	 	0	%
	2
	 	 	20	%
	3
	 	 	40	%
	4
	 	 	60	%
	5
	 	 	80	%
	6 years or more
	 	 	100	%

     4.03 Election of Former Vesting Schedule.

     In the event the vesting schedule of this Plan is hereafter directly or indirectly amended or
the vesting schedule of any preceding Plan has been amended by adoption of this amendment and
restatement, no Participant or former Participant shall be deprived thereby of any previously
vested interest, and any Participant who has completed at least three (3) years of Vesting Schedule
Service, may elect to have his vested interest in his Employer Contribution Account determined
without regard to such amendment by notifying the Plan Administrator in writing

16

 

during the election period as hereafter defined. The election period shall begin on the date
such amendment is adopted and shall end no earlier than the latest of the following dates:

	 	(a)  	the date which is 60 days after the date the amendment is adopted;
	 
	 	(b)  	the date which is 60 days after the day the plan amendment becomes effective;
or
	 
	 	(c)  	the date which is 60 days after the day the Participant is issued written
notice of the amendment by the Employer or Plan Administrator. Such election shall be
available only to an individual who is a Participant at the time such election is made
and such election shall be irrevocable.

     4.04 Forfeitures.

     As to any Participant who terminates employment with the Employer and all Affiliates prior to
his Retirement Date or earlier death and prior to becoming fully vested in his Employer
Contribution Account, the unvested portion of such Account shall be declared a forfeiture as of the
date of such distribution if such Participant is partially vested and as soon as practicable
following the date of termination if such Participant is 0% vested.

	 	(a)  	If such Participant is rehired before incurring five consecutive One Year
Breaks in Service, then such Participant’s nonvested interest, determined as of the
date of forfeiture in (a) above, shall be restored to the Participant’s Account which
existed at the date of forfeiture and his vested interest in such Account shall be
based on his total years of Vesting Schedule Service.
	 
	 	(b)  	Any amounts which must be restored, to a rehired Participant’s Account pursuant
to (a) above, shall first come out of forfeitures from other Plan Participants and
thereafter from Employer contributions.
	 
	 	(c)  	Any forfeitures which occur under this Section 4.04 shall first be charged
against a Participant’s Investment Account, with any balance charged against his
Employer Stock Account.

     4.05 Resumption of Participation.

     If a Participant incurs a Break in Service after termination of employment before he has
acquired any vested interest in any portion of his Employer Contribution Account, and if his
aggregate number of consecutive One Year Breaks in Service (including those within such Break in
Service) then or thereafter equals or exceeds his number of Years of Service prior to such Break in
Service, then all prior Vesting Schedule shall be forfeited as it otherwise would be used to
measure his vested interest in his new Employer Contribution Account established subsequent to such
Break in Service.

     If a Participant incurs a Break in Service after termination of employment after he has
acquired a vested interest in any portion of his Employer Contribution Account, then (regardless of
his subsequent number of consecutive One Year Breaks in Service) all prior Vesting Schedule Service
shall be aggregated with his subsequent Vesting Schedule Service to measure his vested

17

 

interest in his new Employer Contribution Account established subsequent to such Break in
Service. If a Participant separates from service and returns to service before incurring five
consecutive One-Year Breaks in Service, both the pre-break and post-break service will count in
vesting both the pre-break and post-break account balances.

18

 

ARTICLE V

DISTRIBUTIONS

     5.01 Time of Distribution.

	 	(a)  	Retirement. Upon termination of employment on or after his Retirement
Date, a Participant shall be entitled to have the full value of his Account distributed
to him not later than 60 days after the close of the Plan Year in which he terminates
employment.
	 
	 	(b)  	Other Termination. Unless the Participant otherwise elects, payments
will commence not later than the 60th day after the later of the Plan Year
in which the Participant attains the Normal Retirement Date or terminates employment;
provided, however, that the written consent of the Participant to the distribution
shall be required if his vested interest in all his Accounts under the Plan exceeds
$1,000.
	 
	 	(c)  	Death. If a Participant or former Participant dies with any Account in
the Fund, the Participant’s Beneficiary shall be entitled to have the full value of the
Account distributed as soon as practicable following the date of death. Distribution
shall commence no later than one year after the Participant’s death, except that if or
to the extent the Participant’s Beneficiary is his surviving spouse, then distribution
must commence no later than the earlier of (i) the date on which the Participant would
have attained his Normal Retirement Date, or (ii) one year after the death of his
surviving spouse. If any Beneficiary is other than an individual, then distribution to
such Beneficiary must be completed within five years after the Participant’s death.

     5.02 Valuation of Distribution.

     Valuation for purposes of any distribution shall be made as of the Valuation Date coincident
with or immediately preceding the date of distribution. A Participant otherwise entitled to
receive an allocation under Section 3.02 for the Plan Year during which he retires or dies, shall
have such allocation distributed to him as soon as practicable after it has been determined.

     5.03 Form of Distribution.

     A Participant may elect to receive a single sum distribution in cash or Employer Stock (with
the value of any fractional share paid in cash). In addition, a Participant may elect that any
eligible rollover distribution be transferred directly to an individual retirement account (IRA) or
other eligible retirement plan accepting such transfer.

     5.04 Required Distributions.

     Pursuant to Section 401(a)(9) of the Code as amended by the Small Business Job Protection Act,
distribution of a Participant’s Plan Benefits is required to begin by April 1 of the calendar year
following the later of (1) the calendar year in which the Participant attains age

19

 

seventy and one-half (701/2) or (2) the calendar year in which the Participant separates from
service with the Employer. However, in the case of a five-percent (5%) owner (as defined in
Section 416(i)(1)(B)(i) of the Code), distributions are required to begin no later than April 1
following the calendar year in which the Participant attains age seventy and one-half (701/2).

     All required minimum distributions shall be determined and made in accordance with the final
and temporary regulations under Code Section 401(a)(9), including the incidental death benefit
requirement in Code Section 401(a)(9)(G). Required minimum distributions will be made in
accordance with Treasury Regulations 1.401(a)(9)-1 through 1.401(a)(9)-9. The provisions of this
Plan reflecting Code Section 401(a)(9) shall supersede any distribution options of the Plan to the
extent those other distribution provisions are inconsistent with Code Section 401(a)(9).

     5.05 No Distributions Prior to Separation From Service.

     Except as provided in Section 5.04, no amounts in a Participant’s Account shall become
distributable prior to the Participant’s termination of employment with the Employer and any
Affiliate.

     5.06 Benefits Only from Fund.

     All benefits under the Plan shall be payable only from the Fund and no liability for the
payment of benefits under the Plan shall be imposed upon the Employer or upon any officers,
directors, shareholders, agents or employees of the Employer.

20

 

ARTICLE VI

EMPLOYER STOCK PROVISIONS

     6.01 Loan Suspense Account, Allocation.

     Employer Stock acquired by loan proceeds (such loan being exempt from Sec. 4975(c) IRC by
4975(d)(3) IRC) shall be held in a suspense account, pending release from encumbrance and suspense
in accordance with the terms of the loan. Unless otherwise determined by the Plan Administrator,
the number of shares and fractional shares to be released at the end of a given loan payment period
shall be based upon the principal only method described in Treas. Reg. Section 54.4975-7(b)(8)(ii).
If the Plan Administrator determines that the principal only method should not be used or if the
principal only method cannot be used for any reason, the release from encumbrance shall be
calculated using the principal and interest method described in Treas. Reg. Section
54.4975-7(b)(8)(i). Shares and fractional shares of Employer Stock released from encumbrance and
suspense at or as of the end of a loan payment period shall be allocated among Participant Employer
Stock Accounts as provided in 3.02(a) hereof.

     6.02 Voting Employer Stock.

     Except as provided below, Employer Stock held by the Trustee shall be voted as directed by the
Plan Administrator. Each Participant or, if applicable, his Beneficiary shall be entitled to
direct the Trustee as to the exercise of any and all voting rights attributable to shares of
Employer Stock then allocated to his Account. Any allocated Employer Stock to which voting
instructions are not received and all Employer Stock which is not then allocated to Participants’
accounts shall be voted in a manner determined by the Plan Administrator.

     6.03 Employer Stock Valuation.

     All transactions in Employer Stock shall be based upon the fair market value thereof. All
valuations of Employer Stock which is not readily tradeable on an established securities market
with respect to activities carried on by the Plan shall be made by an independent appraiser meeting
requirements similar to those contained in Treasury regulations under Section 170(a)(1) of the
Code.

     6.04 ESOP Loans.

     Any ESOP Loan shall meet the requirements of current Treasury regulations for such loans,
including:

	 	(a)  	The interest rate respecting such loan shall not exceed a reasonable rate of
interest. The Plan Administrator shall consider all relevant factors in determining a
reasonable rate of interest, including the amount and duration of the loan or contract,
the security and guarantee (if any) involved, the credit standing of the Trust and the
Company (if and to the extent that the Company acts as guarantor), and the interest
rate prevailing for comparable loans. Upon due consideration of the foregoing factors,
a variable interest rate may be reasonable.

21

 

	 	(b)  	At the time that such loan is made or contract entered into, the interest rate
and the price of securities to be acquired should not be such that Plan assets might be
dissipated.
	 
	 	(c)  	The terms of such loan or contract, whether or not between independent parties,
must be at such time at least as favorable to the Trust as the terms of a comparable
loan or contract resulting from arm’s-length negotiations between independent parties.
	 
	 	(d)  	The proceeds of such loan must be used within a reasonable time after their
receipt by the Trust only to acquire Employer Stock, to repay such loan, or to repay a
prior loan to the Trust.
	 
	 	(e)  	Such loan must be without recourse against the Trust. The only assets of the
Trust that may be given as collateral on such loan are shares of Employer Stock
acquired therewith. No person entitled to payment under such loan shall have any right
to assets of the Trust other than collateral given for such loan, cash contributions of
the Company made to meet the obligations of the Trust under such loan, and earnings
attributable to such collateral and the investment of such contributions. The payments
made with respect to such loan by the Trust during a Plan Year must not exceed an
amount equal to the sum of such contributions and earnings received during or prior to
the year less such payments in prior years. Such contributions and earnings must be
accounted for separately on the books of account of the Trust, until the loan is
repaid.
	 
	 	(f)  	In the event of default on such loan, the value of Plan assets transferred in
satisfaction of the loan must not exceed the amount of default.
	 
	 	(g)  	Shares of Employer Stock used as collateral for such loan shall be released
from the encumbrance thereof, in accordance with the provisions of Section 6.01 below.
	 
	 	(h)  	Such loan shall be for a specific term, and not payable at the demand of any
person (except in the case of default).
	 
	 	(i)  	Except as otherwise required by applicable law, no Employer Stock acquired with
the proceeds of such loan shall be subject to a put, call or other option, or buy-sell
or similar arrangement while held by and when distributed from the Trust, whether or
not the Trust is then an employee stock ownership plan as described in Code Sec.
4975(e)(7). Further, the requirements under this subsection (i) are not terminable
following repayment of the loan.

     6.05 Direction for Employer Stock Account.

     The acquisition, holding and disposition of Employer Stock in the Trust shall be by written
direction of the Plan Administrator to the Trustee, and the Trustee shall not be liable for action
taken pursuant to such written direction.

22

 

     6.06 Dividends.

     Unless otherwise determined by the Plan Administrator, dividends (which shall include
distributions on shares of S corporation stock) paid with respect to shares of Employer Stock
allocated to Participants’ Accounts or held in the suspense account shall be used to repay any ESOP
loan. Shares released from the loan suspense account by reason of dividends paid with respect to
Employer Stock shall be allocated to Participants’ Accounts as follows:

	 	(a)  	first, shares with a fair market value equal to the greater of (i) the fair
market value of the shares released from suspense attributable to the dividends used to
repay the ESOP loan attributable to the Employer Stock allocated to the Participants’
Accounts, or (ii) the dividends paid with respect to the Employer Stock allocated to
the Participants’ Accounts, shall be allocated among and credited to the Accounts of
such Participants, pro rata, according to the number of shares of Employer Stock held
in such accounts on the dividend declaration date;
	 
	 	(b)  	then any remaining shares released from suspense by reason of dividends paid
with respect to Employer Stock held in suspense shall be allocated among and credited
to the Accounts of all Participants, pro rata, according to each Participant’s
Compensation.

     The Plan Administrator may direct that any cash dividends paid with respect to shares of
Employer Stock may be allocated among and credited to Participants’ Accounts; provided, however,
that the dividends paid with respect to Employer Stock held in the suspense account shall be
allocated among and credited to Accounts according to the number of shares of Employer Stock held
in the respective Stock Accounts on the date such dividends were declared by the Employer. Any
cash dividend paid with respect to shares of Employer Stock allocated to Participants’ Accounts
may, as determined by the Plan Administrator, be either paid by the Company directly in cash to the
Participants on a non-discriminatory basis, or paid to the Trustee and distributed by the Trustee
to the Participant no later than 90 days after the end of the Plan Year in which paid to the
Trustee.

     6.07 Certain Transactions Barred.

     No put or buy-sell agreement shall commit the Trustee to acquire Employer Stock at a future
date determined upon the happening of an event such as the death of a shareholder.

     6.08 Limits on Rollover Sale.

     If the Trustee is directed to purchase Employer Stock from a Participant who qualifies for and
elects a federal tax deferral in connection with such sale under §1042 of the Internal Revenue
Code, then no shares of Employer Stock so purchased in such transaction shall be allocated to the
seller/Participant, related parties or a shareholder owning more than 25% of outstanding Employer
Stock, and no equivalent trust assets shall be allocated in lieu of such Employer Stock, all as
provided by §409(n) of the Internal Revenue Code.

23

 

     6.09 Put Option.

     If Employer Stock is not readily tradable on an established market, a Participant or
Beneficiary who receives a distribution of such stock under the Plan (and who does not immediately
sell it back), shall have the right to sell (“put”) all of such Employer Stock so distributed (but
not less than all) to the Employer or the Trustee of this Plan. The obligation to purchase on
behalf of the Employer may be assigned to the Trustee by direction of the Plan Administrator. Such
right to sell shall exist for a 60 day period commencing on the day following distribution thereof
to the Participant or Beneficiary, and shall be exercised by written notice thereof to the Employer
or the Trustee hereunder received within the 60 day period. If such right to sell is not exercised
during such period, the Participant (or Beneficiary) shall have an additional 60 day period during
which he may exercise such right commencing on the first anniversary of the date of distribution of
such Employer Stock. Such later right shall be identical to the original right and shall be
exercisable in the same manner. In each case, the price payable by the buyer shall be that
established on the most recent Valuation Date preceding the date written notice of exercise is
received by the addressee thereof. The purchase price may, at the election of the Plan
Administrator, be payable in a lump sum or in substantially equal annual installments over a period
of up to five years, bearing interest at the applicable federal rate (as defined in Section 1274)
as of the date of such note. Such payments shall commence not later than 30 days after receipt of
the put option by the optionee. The installment note shall be guaranteed by the Employer, or
otherwise secured as determined by the Plan Administrator.

24

 

ARTICLE VII

ADMINISTRATION

     7.01 Plan Administrator.

     The Primary Employer shall supervise and control the operation of the Plan and its general
administration, and shall be the “Plan Administrator” for all purposes of ERISA, unless the
Employer shall in writing have appointed a Committee pursuant to Section 7.03 hereof or some other
person(s) or entity as the Plan Administrator. Any persons performing services with respect to the
Plan may be reimbursed for expenses properly and actually incurred, either from the Fund or by the
Employer, at the sole discretion of the Employer, but no employee of the Employer shall receive any
compensation from the Fund for services rendered in the performance of any duties with respect to
the Plan.

     7.02 Authority of Plan Administrator.

     The Plan Administrator shall have such powers as may be necessary to direct the general
administration of the Plan, including those powers given to the Plan Administrator elsewhere in
this Plan, and including (but not by way of limitation) the following:

	 	(a)  	to construe and interpret the Plan and to make equitable adjustments for any
mistakes or errors made in the administration thereof;
	 
	 	(b)  	to prescribe such procedures, rules and regulations as it shall deem necessary
or proper for the efficient administration of the Plan or any of its duties hereunder;
	 
	 	(c)  	to decide questions of eligibility and determine the amount, manner and time of
payment of any benefits and to direct the payment of the same from the Fund;
	 
	 	(d)  	to prescribe the form and manner of application for any benefits hereunder and
forms to be used in the general administration hereof;
	 
	 	(e)  	to receive from the Employer, Employees and Participants or their beneficiaries
such information as shall be necessary for the proper administration of the Plan;
	 
	 	(f)  	to furnish to the Employer such annual reports with respect to the
administration of the Plan as are reasonable and appropriate;
	 
	 	(g)  	to designate, appoint or employ any other persons, as it deems advisable, which
persons may be designated to carry out any fiduciary responsibilities within the scope
of the Plan Administrator’s authority. Any persons so designated by the Plan
Administrator may themselves delegate all or part of their duties to any other persons,
except that fiduciary responsibilities may be so delegated only upon the prior written
approval of the Plan Administrator; and
	 
	 	(h)  	to employ or retain legal, tax, accounting or actuarial consultants, to assist
it in the performance of its duties hereunder.

25

 

     7.03 Administrative Committee.

     The Employer may establish an Administrative Committee (the “Committee”) to act for the
Employer as Plan Administrator in the general administration of the Plan. The Committee shall
consist of at least two members. The members of the Committee shall serve at the pleasure of the
Employer until their successors are appointed in like manner.

     7.04 Committee Procedure.

     Any such Committee may in its regulations or by action delegate the authority to any one or
more of its members to take any action on behalf of the Committee and as to such actions, no
meetings or unanimous consent shall be required. The Committee may also act at a meeting or by its
unanimous written consent. A majority of the members of the Committee shall constitute a quorum
for the transaction of business and shall have full power to act hereunder. All decisions shall be
made by vote of the majority present at any meeting at which a quorum is present, except for
actions in writing without a meeting which must be unanimous. The Committee may appoint a
Secretary who may, but need not be, a member of the Committee. The Committee may adopt such bylaws
and regulations as it deems desirable for the conduct of its affairs. Any absent Committee member,
and any dissenting Committee member who (at the time of the making of any decision by the majority)
registers his dissent in writing delivered at that time to the other Committee members, shall be
immune to the fullest extent permitted by law from any and all liability occasioned by or resulting
from the decision of the majority. All rules and decisions of the Committee shall be uniformly and
consistently applied to all persons in similar circumstances. The Committee shall be entitled to
rely upon the Employer’s records as to information pertinent to calculations or determinations made
pursuant to the Plan. A member of the Committee may not vote or decide upon any matter in which
his individual right to or claim to any benefit under the Plan is particularly involved. If, in any
case in which a Committee member is so disqualified to act, the remaining members cannot agree,
then the President of the Employer will appoint a temporary substitute member to exercise all of
the powers of the disqualified member concerning the matter in which that member is disqualified to
act.

     7.05 Claims and Domestic Relations Order Review Procedures.

     The Plan Administrator shall establish and administer a reasonable written procedure for the
filing of claims (requests for benefits) by the Participants or their Beneficiaries, and for
determining the qualified status of any “domestic relations order” as defined in paragraph
206(d)(3) of ERISA, including segregation to the extent required by law of any Accounts thereby
contested, all in accordance with such regulations as may be issued by the Secretary of Labor. The
Plan Administrator shall provide written notice to any Participant, Beneficiary, or alternate payee
whose claim for benefits under the Plan has been denied, setting forth the specific reasons for
such denial, and shall afford a reasonable opportunity to any Participant or Beneficiary for a full
and fair review of the decision denying a claim in accordance with such regulations as may be
issued by the Secretary of Labor and consistent with the claims procedure established by that Plan
Administrator. If the Plan Administrator determines that the domestic relations order is
qualified, the alternate payee shall be entitled to receive payments as if the alternate payee were
a terminated Participant.

26

 

     Notwithstanding any other provision in this Plan to the contrary, the Plan Administrator may
make a distribution to an alternate payee under a qualified domestic relations order prior to the
earliest date distributions are permitted under any other provisions of this Plan, and prior to the
date a Participant whose Account is the subject of a domestic relations order attains age 50,
provided that the domestic relations order is determined to be qualified as defined in paragraph
206(d)(3) of ERISA and the order provides for such distribution.

     The Plan Administrator shall have full and complete discretionary authority to determine
eligibility for benefits, to construe the terms of the Plan and to decide any matter presented
through the claim review procedure. Any final determination of the Plan Administrator shall be
binding on all parties. If challenged in court, such determination shall not be subject to
de novo review and shall not be overturned unless proven to be arbitrary and
capricious upon the evidence considered by the Plan Administrator at the time of such
determination.

27

 

ARTICLE VIII

RIGHTS OF PARTICIPANTS

     8.01 No Contract of Employment.

     The adoption and maintenance of this Plan shall not be construed as creating any contract of
employment between the Employer and any employee, and the Employer shall have the right in all
respects to deal with its employees, their hiring, discharge, compensation and conditions of
employment as though the Plan did not exist. No employee shall have any right to question the
action of the Employer in discontinuing its contributions to this Plan or in terminating this Plan
in its entirety. Each Participant shall have the right to see the record of his Account(s) but no
right to inquire as to the Accounts of other Participants.

     8.02 Restrictions as to Payees.

     This Plan is established for the purpose of providing for the support of the Participants upon
their retirement and for the support of their beneficiaries as herein provided. No right or
interest of any kind of any Participant shall be subject to alienation, anticipation or encumbrance
by the Participant, and, to the fullest extent provided by law, no rights or interest of any kind
of any Participant shall be subject to garnishment, attachment, execution or levy of any kind
except payments pursuant to qualified domestic relations orders in accordance with paragraph
206(d)(3) of ERISA. If any Participant or Beneficiary entitled to receive a distribution under the
Plan is a minor or incompetent person or is unable to attend to his or her own financial affairs,
in the good faith judgment of the Plan Administrator, then payment may be authorized by the Plan
Administrator to be made to the person or persons responsible for, caring for, or supporting such
Participant or Beneficiary, in the discretion of the Plan Administrator. Any such payments shall
fully discharge all obligations of all fiduciaries under the Plan and Trust as to the payee, manner
and amount of such distribution(s).

     8.03 Merger, Consolidation or Transfer.

     In the event this Plan is merged or consolidated with, or its assets or liabilities or the
Fund are transferred to, any other plan or trust, each Participant hereunder shall be entitled to
receive a benefit calculated immediately after such merger, consolidation or transfer (if the Plan
then terminates) which is at least equal to the value of the benefit he would have been entitled to
receive had this Plan terminated immediately prior to such event.

     8.04 USERRA.

     Notwithstanding any provision of this Plan to the contrary, contributions, benefits and
service credit with respect to qualified military service will be provided in accordance with
section 414(u) of the Code.

28

 

ARTICLE IX

AMENDMENT AND TERMINATION

     9.01 Amendment.

     The Employer reserves the right at any time, and from time to time, to amend in whole or in
part any or all of the provisions of the Plan, but no amendment shall be made by which any funds
under the Plan can be used for, or diverted to, purposes other than for the exclusive benefit of
Employees and their beneficiaries.

     Unless the amendment is necessary to permit the Plan to meet the requirements for Treasury
approval under the Internal Revenue Code or under any subsequent revenue law, to meet the
requirements of the Department of Labor under ERISA or, of any other governmental authority under
any other applicable law, no amendment shall adversely affect the benefits to which an Employee
became entitled prior to the effective date of such amendment.

     9.02 Termination.

     It is intended by the Employer that the Plan shall constitute a permanent Plan for providing
benefits for Employees, but the Employer reserves the right to terminate the Plan at any time, or
to permanently discontinue contributions thereto, with respect to its Employees, and thereafter no
employee of the Employer shall become a Participant nor shall any employee of the Employer accrue
additional benefits hereunder. Upon such termination (or partial termination as to Participants
affected thereby) or permanent discontinuance of contributions, each Participant and beneficiary of
each deceased Participant shall have a fully vested and nonforfeitable interest in any values held
in his Account(s), but only with respect to amounts attributable to prior contributions to such
Account(s), as of the date of such termination or discontinuance, and such values shall be
distributed to such persons within a reasonable time under any method provided in the Plan. Any
forfeitures by Employees which shall have occurred in accordance with Section 4.04 hereof prior to
such termination or discontinuance, but which have not yet been allocated, shall be distributed pro
rata based on compensation among those Participants during the most recent Plan Year ending
concurrently with or prior to the effective date of such termination or discontinuance.

     9.03 Non-Reversion.

     Except as provided in this Section, the Employer shall have no right, title or interest in the
contributions made by it under the Plan and no part of the Fund shall ever revert to it or for its
benefit nor shall any part of the Fund ever be used other than for the benefit of the Participants
and their beneficiaries.

     The Employer hereby declares its intention that the Plan as in effect from time to time, shall
meet all requirements for tax-qualified plans under the Internal Revenue Code and that all
contributions shall be deductible under Section 404 and related provisions of the Internal Revenue
Code, and all contributions are hereby expressly made conditional upon such deductibility. If a
contribution is made by the Employer by a mistake of fact, then such contributions shall be
returned to the Employer within one year after the payment of the
contribution; if a contribution is made by the Employer with respect to a tax year as to which
the

29

 

initial qualification of the Plan under Section 401 is denied, then all such contributions
shall be returned to the Employer within one year after the date of the denial; and if any part or
all of such a contribution is disallowed as a deduction under Section 404 of the Code with respect
to the Employer, then to the extent such contribution is disallowed as a deduction it shall be
returned to the Employer within one year after the disallowance.

30

 

ARTICLE X

MISCELLANEOUS

     10.01 Legislation Governs.

     This Plan is intended to meet the requirements of Section 401 and related provisions of the
Internal Revenue Code and all applicable provisions of ERISA and regulations thereunder and any
amendments thereto or replacements thereof (hereinafter, the “Applicable Employee Benefits Law”)
and this Plan shall be construed and operated accordingly. In the event of any conflict between
any part, clause or provision hereof and the Applicable Employee Benefits Law, the provisions of
such law shall be deemed controlling and the conflicting part, clause or provision hereof shall be
deemed superseded to the extent of the conflict.

     The law of the State of Wisconsin shall govern this Plan in all matters which are to be
determined by reference to state law as distinguished from federal law.

     10.02 Indemnification.

     No person incurring any loss resulting from liability for breach of its fiduciary duties with
respect to the Plan shall be entitled to indemnification out of the assets of the Fund. However,
the Employer shall hold harmless and defend any individual in the employment of the Employer and
any director of the Employer against any claim, action or liability asserted against him in
connection with any action or failure to act regarding the Plan, except as and to the extent that
any such liability may be based upon the individual’s own willful misconduct. This indemnification
shall not duplicate but may supplement any coverage available under any applicable insurance.

     10.03 Construction.

     The masculine gender, where appearing in the Plan, shall be deemed to include the feminine or
common genders, unless the context clearly indicates to the contrary. The words “hereof”,
“hereunder”, and other similar compounds of the word “here” shall mean and refer to the entire
Plan, not to any particular provision or section. Where applicable, words in the singular shall
include the plural, and vice versa.

     10.04 Headings.

     The headings and subheadings in this instrument are inserted for convenience and reference
only and are not to be used in construing the Plan or any provision thereof.

     10.05 Non-Discrimination.

     Whenever any discretionary action or decision is to be made by the Plan Administrator
hereunder, such action or decision shall be final and binding upon all persons, provided that the
Plan Administrator exercises such discretion in a uniform and non-discriminatory fashion so that
all Participants under similar circumstances are treated in a like manner.

31

 

     10.06 Absence of Guaranty.

     Neither the Employer nor the Plan Administrator in any way guarantee the Fund against loss or
depreciation. Unless otherwise provided by law, the Employer, its directors, officers, employees
and agents and the Plan Administrator shall in no manner be liable to any Participant or
Beneficiary or any other person under or by reason of the terms and conditions of the Plan.

     10.07 Service in More Than One Capacity.

     Any person or group of persons may serve in more than one fiduciary capacity with respect to
the Plan.

32

 

ARTICLE XI

TOP-HEAVY PROVISIONS

     11.01 Application.

     The provisions of this Article XI shall become effective only in any Plan Year in which the
Plan is determined to be a top-heavy plan within the meaning of Section 416(g) of the Code.

     11.02 Determination of Top-Heavy Status.

     The Plan will be a top-heavy plan for the Plan Year if, as of the last day of the preceding
Plan Year, or in the case of the first Plan Year, the last day of such Plan Year:

	 	(a)  	the aggregate of the value of all the Accounts of Key Employees exceeds 60% of
the value of such Accounts of all employees under the Plan (the “60% Test”); or
	 
	 	(b)  	the Plan is part of a required aggregation group, and the required aggregation
group is top-heavy.

     Notwithstanding the results of the 60% Test, the Plan shall not be considered a top-heavy plan
for any Plan Year in which the Plan is part of a required or a permissive aggregation group which
is not a top-heavy group.

     11.03 Special Vesting, Minimum Contribution and Compensation Rules.

     While the Plan is a top-heavy plan, the following special rules shall apply:

	 	(a)  	Notwithstanding the provisions of the regular vesting schedule of this Plan set
out in Article IV hereof, a Participant’s interest in his Employer Contribution Account
shall become fully vested and nonforfeitable as determined in accordance with the
following:

	 	 	 	 	 
	 	 	Portion of Participant’s	 
	 	 	Employer Contribution	 
	Years of Vesting	 	Account Vested in	 
	Schedule Service	 	Participant	 
	Less than 3
	 	 	0	%
	3 or more
	 	 	100	%

	 	   	If the Plan was a top-heavy plan and subsequently ceases to
be such, the vesting schedule in this Section 11.03(a) shall continue to
apply in determining the vesting percentage of any Participant who had at
least three (3) years of Vesting Schedule Service as of the last day of the
last Plan Year that the Plan was top-heavy. For all other Participants, two
Employer Contribution Accounts shall be maintained—the old Employer
Contribution Account and the new Employer Contribution Account. The
starting balance of the old Employer Contribution Account shall be the
balance as of such last day. All
contributions and forfeitures allocated as of a date subsequent to such last day

33

 

	 	   	shall be allocated to the new Employer Contribution Account. The Participant’s
vesting percentage with respect to his new Employer Contribution Account shall be
determined in accordance with the regular vesting schedule provided in Article IV
hereof. The Participant’s vesting percentage in his old Employer Contribution
Account at any time shall be the greater of (i) the vesting percentage determined
under the regular vesting schedule provided in Article IV hereof or (ii) the
vesting percentage determined on such last day under the vesting schedule in this
subsection.

	 	(b)  	If contributions or forfeitures or both are allocated to the Employer
Contribution Account of any Key Employee, then the total amount thereof, expressed as a
percentage of the Key Employee’s Code Section 415 compensation for the Key Employee
receiving the largest such percentage shall be determined. All Active and Inactive
Participants who remain in the Employer’s employ at the end of the Plan Year and who
are not Key Employees shall then be entitled to receive certain minimum allocations to
their Employer Contribution Accounts as follows:

	 	(1)  	if the percentage so determined for the Key Employee equals or
exceeds 3%, then otherwise eligible non-Key Employees must receive allocations
of at least 3% of their Code Section 415 compensation; and
	 
	 	(2)  	if the percentage so determined for the Key Employee is less
than 3%, then otherwise eligible non-Key Employees must receive allocations at
least equal to such percentage.
	 
	 	   	If the Employer sponsors another defined contribution plan, such top heavy
minimum contribution shall be provided in such other plan.
	 
	 	   	For purposes of satisfaction of the minimum contribution requirements herein
imposed, no contributions or benefits under the Social Security Act shall be
taken into account, but Employer contributions made or benefits accrued
during the same calendar year within any other tax-qualified retirement plan
of the Employer may be taken into account in accordance with applicable
regulations. If the highest rate allocated to a Key Employee, for a year in
which the plan is top-heavy is less than three percent, amounts contributed
as a result of a salary reduction agreement shall be included in determining
contributions made on behalf of Key Employees.

     11.04 Top-Heavy Definitions.

     For purposes of this Article XI, the following definitions shall apply:

	 	(a)  	“Key Employee” shall mean any employee, former employee or Beneficiary
who at any time during the Plan Year or during any of the four preceding Plan Years is

34

 

	 	(1)  	an officer of the Employer or an Affiliate with an annual
compensation from the employer greater than 150% of the amount in effect in
Code Section 415(c)(1)(A), (but not more than 50 officers or, if lesser, the
greater of 3 or 10% of the employees of the Employer together with all
Affiliates),
	 
	 	(2)  	one of the ten employees having annual compensation from the
employer greater than 100% of the amount in effect in Code Section 415(c)(1)(A)
and owning the largest equity interests in the Employer together with all
Affiliates,
	 
	 	(3)  	an employee with more than 5% equity interest in the Employer
together with all Affiliates, or
	 
	 	(4)  	an employee with a 1% equity interest in the Employer together
with all Affiliates and an annual compensation of $150,000 or more.

	 	(b)  	“Required Aggregation Group” shall mean those plans of the Employer and
of all Affiliates in which a Key Employee participates or which must be aggregated in
order to satisfy the participation and coverage requirements of Code Sections 401(a)(4)
and Code Section 410.
	 
	 	(c)  	“Permissive Aggregation Group” shall mean the Required Aggregation
Group, plus any other plans maintained by the Employer or an Affiliate, which the
Employer may choose to aggregate, provided all plans so aggregated satisfy the
participation and coverage requirements of Code Sections 401(a)(4) and Code Section
410.
	 
	 	(d)  	“Top-Heavy Group” means any aggregation group in which the present
value of all accrued benefits (excluding amounts attributable to deductible voluntary
contributions) of Key Employees exceeds 60% of the present value of all accrued
benefits for all participants in plans within the aggregation group.
	 
	 	(e)  	“Non-Key Employee” means any Employee, former Employee or Beneficiary
who is not a Key Employee as defined above.

     “Determination Date” means for any Plan Year the last day of the preceding Plan Year
or, in the case of the first Plan Year of the Plan, the last day of that Plan Year.

35

 

     IN WITNESS WHEREOF, This Plan is executed by the Employer, acting through its duly authorized
officers, as of the ___day of ___, 2005.

	 	 	 	 	 
	 	WAUWATOSA SAVINGS BANK

 	 
	 	By:  	_______________________________
 	 
	 	 	 	 
	 	Attest: _____________________________ 	 
	 

36

 

WAUWATOSA SAVINGS BANK

EMPLOYEE STOCK OWNERSHIP TRUST

Effective January 1, 2005

 

 

WAUWATOSA SAVINGS BANK

EMPLOYEE STOCK OWNERSHIP TRUST

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	PREAMBLE
	 	 	 	 
	 
	 	 	 	 
	ARTICLE I ESTABLISHMENT OF TRUST
	 	 	I-1   	 
	1.01 Designation and Meaning of Terms
	 	 	I-1   	 
	1.02 Exclusive Benefit of Participants and Beneficiaries
	 	 	I-1   	 
	1.03 General Duties of Trustee
	 	 	I-1   	 
	1.04 Duties of Plan Administrator
	 	 	I-1   	 
	1.05 Named Fiduciaries and Funding Policy
	 	 	I-2   	 
	 
	 	 	 	 
	ARTICLE II POWERS AND SPECIFIC DUTIES OF THE TRUSTEE
	 	II-1
	2.01 Investment of Assets
	 	II-1
	2.02 Administrative Powers
	 	II-2
	2.03 Investment Manager
	 	II-3
	2.04 Employer Stock Valuation and Voting
	 	II-4
	 
	 	 	 	 
	ARTICLE III TRUSTEE ADMINISTRATION
	 	III-1
	3.01 Expenses
	 	III-1
	3.02 Annual Valuation
	 	III-1
	3.03 Accountings
	 	III-1
	 
	 	 	 	 
	ARTICLE IV PROVISIONS CONCERNING THE TRUSTEE
	 	IV-1
	4.01 Identity of Trustee
	 	IV-1
	4.02 Resignation or Removal
	 	IV-1
	4.03 Procedure for Successor
	 	IV-1
	4.04 Indemnification
	 	IV-1
	4.05 Protection of Trustee
	 	IV-1
	 
	 	 	 	 
	ARTICLE V AMENDMENT AND TERMINATION
	 	 	V-1  	 
	5.01 Duration and Termination
	 	 	V-1  	 
	5.02 Continuation of Plan
	 	 	V-1  	 
	5.03 Amendment
	 	 	V-1  	 
	 
	 	 	 	 
	ARTICLE VI MISCELLANEOUS
	 	VI-1
	6.01 Interests in Fund
	 	VI-1
	6.02 Non-Alienation
	 	VI-1
	6.03 Insurer Not a Party
	 	VI-1
	6.04 Controlling Law
	 	VI-1
	6.05 Construction
	 	VI-1

-i-

 

 

WAUWATOSA SAVINGS BANK

EMPLOYEE STOCK OWNERSHIP TRUST

PREAMBLE

     WHEREAS, the Employer has adopted the WAUWATOSA SAVINGS BANK EMPLOYEE STOCK OWNERSHIP PLAN,
hereinafter referred to as the “Plan”, for the benefit of its Employees, effective as of January 1,
2005;

     NOW THEREFORE, the Employer and _________(hereinafter, the “Trustee”) do
hereby establish the WAUWATOSA SAVINGS BANK EMPLOYEE STOCK OWNERSHIP TRUST and agree that the
following shall constitute the Trust Agreement:

 

 

ARTICLE I

ESTABLISHMENT OF TRUST

     1.01 Designation and Meaning of Terms.

     This Trust is designated as the WAUWATOSA SAVINGS BANK Employee Stock Ownership Trust. All
capitalized terms used herein shall have the meaning assigned to them in the Plan. The Employer
intends that the Trust shall constitute a part of the Plan, the provisions of which are hereby
incorporated by reference, which will meet the requirements of ERISA and qualify under Section
401(a) of the Internal Revenue Code and thereby continue tax exempt status under Section 501(a) of
such Code. The purpose of this Trust is to implement the Plan, which provides for certain
retirement, disability, death and employment termination benefits for Participants and their
Beneficiaries.

     1.02 Exclusive Benefit of Participants and Beneficiaries.

     This Trust shall be for the exclusive benefit of Participants and their Beneficiaries.
Subject to the provisions of Section 9.03 of the Plan, no part of the Trust Fund shall be used for,
or diverted to, purposes other than for the exclusive benefit of the Participants and their
Beneficiaries (except that payment of any taxes and administration expenses may be made from this
Trust as provided in Section 3.01 hereof).

     1.03 General Duties of Trustee.

     The Trustee shall receive any contributions paid to it in cash, Employer Stock or in the form
of such other property as it may from time to time deem acceptable and which shall have been
delivered to him. All contributions so received, together with the income therefrom and any other
increment thereon and all other assets acquired by investment or reinvestment, (hereinafter
collectively referred to as the “Trust Fund”) shall be held, invested, reinvested and administered
by the Trustee pursuant to the terms of this Agreement without distinction between principal and
income and without liability for the payment of interest thereon. The Employer shall make
contributions in such manner and at such times as shall be appropriate. The Trustee shall not be
responsible for the calculation or collection of any contribution under or required by the Plan,
but shall be responsible only for property received by it pursuant to this Agreement. The Trustee
shall from time to time make payments out of the Trust Fund to such persons as the Plan
Administrator shall direct and shall be under no liability for any payments made pursuant to such
directions.

     1.04 Duties of Plan Administrator.

     It shall be the duty of the Plan Administrator, subject to the provisions of the Plan, to
administer the Plan, to determine the existence, nature and amount of rights and interests of all
persons in and to the Trust Fund or under the Plan and to furnish the Trustee with complete and
accurate information with respect to Participants, their Compensation, Service with the Employer,
and any other information which the Trustee may reasonably request.

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     1.05 Named Fiduciaries and Funding Policy.

     The Employer has designated the Trustee as a named fiduciary of this Trust and the Plan
Administrator as a named fiduciary of the Plan. The Plan Administrator shall establish and carry
out a funding policy consistent with the purposes of the Plan and the requirements of applicable
law, as may be appropriate from time to time.

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ARTICLE II

POWERS AND SPECIFIC DUTIES OF THE TRUSTEE

     2.01 Investment of Assets.

     The Trustee shall have with respect to any and all moneys and property at any time held by it
and constituting the Trust Fund hereunder power to purchase and pay premiums upon or which may
become due under any insurance contract or contracts of every nature whatsoever as shall have been
directed and approved by the Plan Administrator. The ownership of all such insurance contracts and
policies shall vest in the Trustee. The Trustee shall exercise all rights, privileges, options and
elections contained in such policies and contracts only in accordance with the directions of the
Plan Administrator. To the extent the Trust Fund is not so used for insurance funding, the Trustee
shall have the power as directed by the Plan Administrator:

	 	(a)  	To invest and reinvest the principal and income of the Trust Fund and to keep
the Trust Fund invested, without distinction between principal and income, in such
stocks, bonds, notes, mortgages or other securities, trust and participation
certificates, real estate or in such other property, including units of participation
in any common trust funds or collective investment funds of pension, profit-sharing or
other employee benefit trusts as may be established by any corporate trustee, as the
Trustee deems proper, whether or not such investments are of the kind authorized by the
common law, statutes or decisional law of the State of Wisconsin, to which said Trustee
would, in the absence of this provision, be subject.
	 
	 	   	Notwithstanding any other provision of this Agreement, the Trustee may cause any
part or all of the money of this Trust Fund to be commingled with the money of
trusts created by others by investing such money as a part of either or both of the
funds created by said Declaration of Trust and money of this Trust Fund so added to
either of said funds at any time shall be subject to all of the provisions of said
Declaration of Trust as it is amended from time to time.
	 
	 	(b)  	To retain any property at any time received by him as Trustee hereunder,
without regard to the proportion which such property either alone or in conjunction
with any other property of the same or similar character may bear to the entire amount
of the Trust Fund.
	 
	 	(c)  	To sell any property at any time held by him at either public or private sale
for cash or on credit at such time or times and on such terms as to him may seem
appropriate and to exchange such property and grant options for the purchase or
exchange thereof.
	 
	 	(d)  	To consent to and participate in any plan of reorganization, consolidation,
merger, combination or other similar plan, to consent to any contract, lease, mortgage,
purchase, sale or other action by any corporation pursuant to such plan and to

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	 	   	accept and retain any property issued under any plan of reorganization even though
it would not be deemed proper by the Trustee as a new investment under the
provisions of subdivision (a) of this Section.
	 
	 	(e)  	To deposit any such property with any protective, reorganization or similar
committee; to delegate discretionary power thereto and to agree to pay and to pay the
part of expenses, compensation and any assessments levied with respect to any such
property so deposited.
	 
	 	(f)  	To exercise all conversion and subscription rights pertaining to any such
property.
	 
	 	(g)  	To collect and receive any and all money and other property of whatsoever kind
or nature due or owing or belonging to the Trust Fund and to give full discharge and
acquittance therefor; and to extend the time of payment of any obligation at any time
owing to the Trust Fund.
	 
	 	(h)  	To invest and reinvest the trust assets primarily in Employer Stock, as such
stock is available for purchase from time to time, in accordance with the terms of the
Plan and this Trust Agreement. The fair market value of any Employer Stock acquired by
the Trustee at the direction of the Plan Administrator shall be determined as provided
in Article 2.04 of this Agreement.
	 
	 	(i)  	In the event the Trustee shall invest any trust assets, pursuant to the
directions of the Plan Administrator, in any securities issued or guaranteed by the
Employer or in any subsidiary or affiliate of the Employer, and the Employer thereafter
directs the Trustee to dispose of such investment, or any part thereof, under
circumstances which require registration of the securities under the Securities Act of
1933 and/or qualification of the securities under the Blue Sky Laws of any state, then
the Employer, at its own expense, will take or cause to be taken any and all such
action as may be necessary or appropriate to effect such registration and/or
qualification.

     2.02 Administrative Powers.

     The Trustee shall have power and authority:

	 	(a)  	As directed by the Plan Administrator, to exercise all voting rights with
respect to any investment (except that Employer Stock shall be voted as provided in
Section 6.02 of the Plan) held for the Trust and in connection therewith to grant
proxies, discretionary or otherwise.
	 
	 	(b)  	To cause any security or other property of the Trust to be registered and held
in the name of one or more of his or its nominees.
	 
	 	(c)  	To settle, compromise or submit to arbitration any claims, debts or damages due
or owing to or from the Trust; to commence or defend suits or legal proceedings
whenever, in his or its judgment, any interest of the Trust requires it; and, to

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	 	   	represent the Trust in all suits or legal proceedings or before any other body or
tribunal.
	 
	 	(d)  	To hold uninvested, without liability for interest thereon, such amounts of
money as may reasonably be anticipated by the Trustee as necessary for disbursement of
Trust Funds as required from time to time.
	 
	 	(e)  	As directed by the Plan Administrator, to borrow money from others (including
the Employer or any other party in interest in the form of an ESOP Loan) for the
purposes of the Trust, including the Purchase of Employer Stock and to issue its
promissory note as Trustee and secure the repayment thereof by pledging any securities
or property in its possession as Trustee hereunder.
	 
	 	(f)  	To retain, employ and compensate, out of the Trust Fund, to the extent not paid
by the Employer, such clerical, legal, actuarial, accounting and other assistants as
the Employer shall deem necessary for the proper administration of the Trust.
	 
	 	(g)  	Generally to do all such acts, execute all such instruments, take all such
proceedings and exercise all such rights and privileges with relation to any property
constituting a part of the Trust Fund as if the Trustee were the absolute owner
thereof.
	 
	 	(h)  	Any third party dealing with the Trustee shall be fully protected in relying
upon the Trustee’s certificate that he or it has authority to take or omit any proposed
action. No third party shall be required to follow the application by the Trustee of
the proceeds of any property which may be transferred or paid to the Trustee.
	 
	 	(i)  	To the extent that the Trust Fund has been used to purchase an insurance
contract or contracts, the Trustee, when directed by the Plan Administrator, shall take
any action necessary so that a Participant or Beneficiary shall receive payment of his
benefits under the insurance contract either directly from the insurer or from the
Trustee, as may be necessary or desirable.

     2.03 Investment Manager.

     By written notice to the Trustee, the Employer may appoint an “investment manager” as defined
under Section 3(38) of ERISA, to manage investment of part or all of the Trust Fund in accordance
with all powers and limitations otherwise granted to and imposed on the Trustee for such purpose.
Each investment manager shall be a named fiduciary under the Trust and shall acknowledge that he is
a fiduciary under the Trust by a writing delivered to the Trustee. During any such period of
appointment, the Trustee shall continue to have full custody of the Trust Fund assets and shall
himself implement the investment directives of the investment manager but shall have no authority
or responsibility with respect to whether Trust Fund assets under the control of such an investment
manager should or should not be purchased, sold or retained.

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     2.04 Employer Stock Valuation and Voting.

     All transactions in Employer Stock shall be based upon the fair market value thereof. In no
event shall the Trustee be required to purchase or otherwise acquire shares of Employer Stock at a
price or value exceeding the fair market value thereof. All shares of Employer Stock held in Trust
hereunder shall be voted by the Trustee as directed by the Plan Administrator.

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ARTICLE III

TRUSTEE ADMINISTRATION

     3.01 Expenses.

     The expenses incurred by the Trustee in the performance of his duties, including fees for
legal services, and such compensation to the Trustee as may be agreed upon in writing from time to
time between the Employer and the Trustee, and all other proper charges and disbursements of the
Trustee, including any and all taxes assessed against the Trustee or the Trust Fund, shall be paid
from the Trust Fund unless paid by the Employer. Notwithstanding the above, if any Trustee is an
employee of the Employer, he shall not receive any compensation from the Trust Fund for services
rendered as Trustee.

     3.02 Annual Valuation.

     Within a reasonable time after each Anniversary Date and on any other applicable Valuation
Date as may be requested by the Plan Administrator, the Trustee shall cause a valuation of each
asset in the Trust Fund to be made at its fair market value (and the Trustee may rely as to any
insurance contract or contracts which may constitute a part of the Trust Fund, on the valuation
thereof supplied by the issuing insurer) and the Trustee shall determine the net change in the
Trust Fund (consisting of the net increase or decrease of the fair market value of assets in the
Trust Fund, including net realized and unrealized gains and losses, income, dividends or interest
received or any other relevant factors). Such net change shall then be allocated by the Trustee
among the Accounts of all Participants and former Participants who have Accounts as of the
applicable Valuation Date in proportion to the values of their respective Accounts as of the last
preceding Valuation Date, all in accordance with Section 3.04 of the Plan.

     3.03 Accountings.

     At such times as are agreed upon between the Employer and the Trustee, the Trustee shall file
with the Plan Administrator a written accounting setting forth a description of all property
purchased and sold and all receipts, disbursements, and other transactions effected by it during
such period. The Plan Administrator may approve such accounting by written notice of approval
delivered to the Trustee or by failure to object in writing to the Trustee within sixty (60) days
from the date upon which the account was delivered to the Plan Administrator (or the Employer).
Upon receipt of written approval of the account, or upon the passage of said period of time without
written objections having been delivered to the Trustee, such accounting shall be deemed to be
approved, and the Trustee shall be released and discharged as to all items, matters and things set
forth in such accounting as if such accounting had been settled and allowed by a decree of a court
of competent jurisdiction.

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ARTICLE IV

PROVISIONS CONCERNING THE TRUSTEE

     4.01 Identity of Trustee.

     There shall at all times be one or more individuals or corporate Trustees hereunder as
determined and appointed from time to time by the Employer who shall have all powers necessary for
the performance of its duties.

     4.02 Resignation or Removal.

     Any Trustee may resign at any time by a written notice to the Employer. The Employer, through
the action of its Board of Directors, shall have the power to remove a Trustee at any time by a
written notice to such Trustee delivered at least 30 days prior to the effective date of such
termination.

     4.03 Procedure for Successor.

     Upon the resignation or removal of the Trustee, the Employer shall appoint a successor trustee
who shall have the same powers and duties as those conferred upon the Trustee hereunder. The
appointment of a Trustee shall become effective upon his or its acceptance in writing addressed to
the Employer. Upon such acceptance by any successor trustee, the resigning or removed Trustee
shall assign, transfer and pay over to such successor trustee the funds and properties then
constituting the Trust Fund.

     4.04 Indemnification.

     In the event that any dispute shall arise as to any act to be performed by the Trustee, the
Trustee may postpone performance until adjudication of such dispute in a court of competent
jurisdiction or until it shall have been indemnified against loss to its satisfaction. If and so
long as the Trustee is an employee or a director of the Employer, the Employer shall hold harmless
and defend the Trustee against any claim, action or liability asserted against it in connection
with any action or failure to act regarding the Plan, except as, and to the extent that any such
liability may be based upon the Trustee’s own willful misconduct. This indemnification shall not
duplicate but may supplement any coverage available under any applicable insurance.

     4.05 Protection of Trustee.

	 	(a)  	The Trustee shall be fully protected in relying upon any written communication
of a designated officer or a designated agent of the Employer and in continuing to rely
upon such written communication until a subsequent written communication is filed with
the Trustee. The Trustee shall be fully protected in acting upon any instrument,
written communication or paper believed by it to be genuine and to be signed by the
proper person or persons, and the Trustee shall be under no duty to make any
investigation or inquiry as to any statement contained in any such

IV-1

 

	 	   	writing, but may accept the same as conclusive evidence of the truth and accuracy of
the statements.
	 
	 	(b)  	Neither the Trustee nor any other person shall be under any duty to question
any direction received from a qualified investment manager appointed pursuant to
Section 2.03, the Plan Administrator, Committee or the Board of Directors of the
Employer, or to review any securities or other property, or to make any suggestions to
the foregoing parties in connection therewith; and the Trustee shall as promptly as
possible comply with any directions given by the foregoing parties. The Trustee shall
not be liable in any manner and for any reason for the making or retention of any
investment pursuant to such directions, nor shall the Trustee be liable for its failure
to invest any or all of the trust assets in the absence of such written direction.

IV-2

 

ARTICLE V

AMENDMENT AND TERMINATION

     5.01 Duration and Termination.

     It is the intention of the Employer that this Trust and the Plan to which it relates shall be
a permanent plan of benefits. However, the Trust may be terminated by the Employer if business
conditions change and upon such termination the Trust shall be distributed by the Trustee as and
when directed by the Plan Administrator, in accordance with the provisions of the Plan and this
Trust Agreement. From and after the date of termination of the Trust, and until the final
distribution of the Trust, the Trustee shall continue to have all the powers provided under this
Trust Agreement necessary and expedient for the orderly liquidation and distribution of the Trust.

     5.02 Continuation of Plan.

     If the Plan is terminated or discontinued, the Employer may elect not to make immediate
distribution of benefits but instead to continue the Trust as a vehicle to hold and administer the
then fully vested Accounts of all Participants and Beneficiaries. In that event, the Trust shall
be administered as though the related Plan were in full force and effect throughout the entire
period of its existence. If the Trust is subsequently terminated pursuant to Section 5.01, the
Trust Fund shall be distributed as directed by the Plan Administrator in accordance with the
provisions of the Plan and this Trust Agreement.

     5.03 Amendment.

     The Employer shall have the right at any time and from time to time by an instrument in
writing delivered to the Trustee, executed in the same manner as these presents are hereby
executed, to alter, amend or modify this Trust Agreement in whole or in part, except that the
duties and responsibilities of the Trustee shall not be increased without its written consent,
provided, however, that no such amendment shall divert any part of the Trust Fund to purposes other
than the exclusive benefit of the employees or former employees of the Employer or their
beneficiaries at any time prior to the satisfaction of all liabilities with respect to such
employees, former employees and their beneficiaries under the Plan and this Trust. Any such
amendment shall become effective upon delivery of the written instrument of amendment to the
Trustee and the endorsement of the Trustee of its receipt or of its consent thereto, if such
consent is required. Subject to the foregoing, any amendment or amendments of the Plan or this
Trust Agreement adopted by the Employer, required or suggested by the Internal Revenue Service to
qualify the Plan under the applicable provisions of Section 401 of the Internal Revenue Code,
shall, to the extent so required, be retroactively effective.

V-1

 

ARTICLE VI

MISCELLANEOUS

     6.01 Interests in Fund.

     No Participant or Beneficiary shall have any interest in, or right to, any part of the
earnings of the Trust Fund or any part of the assets thereof, except as to the extent expressly
provided in the Plan. Except as otherwise provided in Title I of ERISA, all benefits under the
Plan are payable only from the Trust Fund and no liability for the payment of benefits or as to the
values of trust assets (including Employer stock) shall be imposed upon the Trustee, the Employer,
or the officers, directors, shareholders, agents or employees of the Employer, and none of such
persons guarantee any values of trust assets (including Employer stock) to anyone.

     6.02 Non-Alienation.

     The benefits under the Plan are intended for the personal security of the persons entitled to
payments under the Plan, and are not subject to the claims of any creditor of any Participant or
Beneficiary. No Participant or Beneficiary has the right to alienate or assign benefits under this
Trust.

     6.03 Insurer Not a Party.

     No insurer shall be considered to be a party to this agreement, to have any responsibility for
its validity, for any action taken by the Trustee as sole owner of the insurance contracts which
may be held under the Trust, for accepting premium payments from the Trustee, or for making payment
of any amounts in accordance with the directions of the Trustee. Any insurer shall be fully
protected in assuming that the Trustee is as shown on the latest notification received by it.

     6.04 Controlling Law.

     This Trust shall be construed and enforced according to the internal laws of the State of
Wisconsin, and of the United States of America, and all provisions hereof shall be administered
according to, and its validity shall be determined under the laws thereof. This Trust may continue
for such period of time as permitted under the laws of Wisconsin.

     6.05 Construction.

     The masculine gender, where appearing in the Trust, shall be deemed to include the feminine or
common genders, unless the context clearly indicates to the contrary. The words “hereof”,
“hereunder”, and other similar compounds of the word “here” shall mean and refer to the entire
Trust, not to any particular provision or section. Where applicable, words in the singular shall
include the plural, and vice versa. The headings and subheadings herein are used for convenience
and reference only and are not to be used in construing the Trust or any provision thereof.

VI-1

 

     IN WITNESS WHEREOF, WAUWATOSA SAVINGS BANK and the Trustee have caused these presents to be
executed on ___, 2005.

	 	 	 	 	 
	

	 	WAUWATOSA SAVINGS BANK
	 	 
	 
	 	 	 	 
	

	 	By:

	 	 
	

	 	President	 	 
	 
	 	 	 	 
	

	 	Attest:
	 	 
	

	 	

	 	 
	

	 	Secretary	 	 
	 
	 	 	 	 
	

	 	TRUSTEE:	 	 
	 
	 	 	 	 
	

	 	By:

	 	 

VI-2

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