Document:

<PAGE>   1

                                                                     EXHIBIT 4.1
<TABLE>
     <S>                                                                                   <C>
     COMMON STOCK                                                                          COMMON STOCK

     ------------                                                                          ------------
        NUMBER                                                                                SHARES
                                 [SPECIALTY EQUIPMENT COMPANIES, INC. LOGO]

     ------------                                                                          ------------

    INCORPORATED UNDER THE LAWS OF                                             SEE REVERSE FOR CERTAIN DEFINITIONS
         THE STATE OF DELAWARE
                                                                                        CUSIP 847497 20 3
  THIS CERTIFICATE IS TRANSFERABLE IN
CHICAGO, ILLINOIS OR NEW YORK, NEW YORK

                                         SPECIALTY EQUIPMENT COMPANIES, INC.

     ---------------------------------------------------------------------------------------------------------------

     This Certifies that

     is the owner of

     ---------------------------------------------------------------------------------------------------------------
                   FULLY PAID AND NONASSESSABLE SHARES OF COMMON STOCK, PAR VALUE $.01 PER SHARE OF
                                         SPECIALTY EQUIPMENT COMPANIES, INC.

                           [CERTIFICATE OF STOCK - (OVERPRINTING DESCRIPTIVE LANGUAGE)]

     transferable only on the books of the Corporation by the holder hereof in person or by duly authorized attorney
     upon surrender of this Certificate properly endorsed. This Certificate is not valid unless countersigned and
     registered by the Transfer Agent and Registrar.

     Witness the facsimile seal of the Corporation and the facsimile       Signatures of its duly authorized officers.

          Dated:

                /s/ Donald K. McKay         [SPECIALTY EQUIPMENT COMPANIES, INC. SEAL]         /s/ D. B. Greenwood

                           SECRETARY                                                           CHAIRMAN OF THE BOARD
</TABLE>

                        COUNTERSIGNED AND REGISTERED:
                                     LASALLE NATIONAL BANK
                                       (Chicago, Illinois)

                                                                  TRANSFER AGENT
                                                                   AND REGISTRAR

                        BY
                                                            AUTHORIZED SIGNATURE

<PAGE>   2
                      SPECIALTY EQUIPMENT COMPANIES, INC.
--------------------------------------------------------------------------------

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

<TABLE>
    <S>                                           <C>
    TEN COM   - as tenants in common              UNIF GIFT MIN ACT --          Custodian
    TEN ENT   - as tenants by the entireties                           ---------          ---------
    JT TEN    - as joint tenants with right of                           (Cust)            (Minor)
                survivorship and not as tenants                        under Uniform Gifts to Minors
                in common
                                                                       Act
                                                                           ------------------------
                                                                                    (State)
                Additional abbreviations may also be used though not in the above list.
</TABLE>

     Specialty Equipment Companies, Inc. will furnish without charge to each
stockholder who so requests a statement of the powers, designations,
preferences and relative, participating, optional or other special rights of
each class of stock or series thereof of the corporation and the
qualifications, limitations or restrictions of such preferences and/or rights.
Such requests may be made to the Transfer Agent.

     For value received, ______ hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
   IDENTIFYING NUMBER OF ASSIGNEE

-------------------------------------

--------------------------------------------------------------------------------

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

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

                                                                          Shares
--------------------------------------------------------------------------

of Common Stock represented by the within Certificate and do hereby
irrevocably constitute and appoint ____________________ Attorney to transfer the
said stock on the books of the within-named Corporation with full power of
substitution in the premises.

Dated
      -------------------------------------

                             /s/
                             ---------------------------------------------------

                             /s/
                             ---------------------------------------------------

                             NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST
                             CORRESPOND WITH THE NAMES 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-15.Exhibit 4.1

                              Chester Bancorp, Inc.

                             1997 Stock Option Plan

SECTION 1.  Purpose. The purposes of the Chester Bancorp, Inc. 1997 Stock Option
Plan are to promote  the  interests  of the  Company,  its  affiliates,  and its
stockholders by (i) attracting and retaining exceptional executive personnel and
other key  employees  and  directors  of the  Company and its  affiliates;  (ii)
motivating such employees and Eligible Directors by means of performance-related
incentives to achieve  longer-range  performance  goals; and (iii) enabling such
employees and Eligible  Directors to  participate  in the  long-term  growth and
financial success of the Company.

SECTION 2.  Definitions. As used in the Plan, the following terms shall have the
meanings set forth below:

         "Affiliate"  shall mean the Banks or any present or future  corporation
that would be a "parent"  or  "subsidiary"  corporation  as defined in  Sections
424(f) and (g), respectively, of the Code.

         "Award" shall mean any grant of Options or Director Options.

         "Award Agreement" shall mean any written agreement,  contract, or other
instrument  or  document  evidencing  any  Award,  which may,  but need not,  be
executed or acknowledged by a Participant or Eligible Director.

         "Banks" shall mean Chester  National Bank and Chester  National Bank of
Missouri.

         "Board" shall mean the Board of Directors of the Company.

         "Change in Control" shall mean an event deemed to occur if and when (a)
an offeror  other than the Company  purchases  shares of the common stock of the
Company or the Bank pursuant to a tender or exchange offer for such shares,  (b)
any person (as such term is used in Sections  13(d) and 14(d)(2) of the Exchange
Act) is or becomes the beneficial owner,  directly or indirectly,  of securities
of the Company or the Bank representing twenty-five percent (25%) or more of the
combined  voting  power  of  the  Company's  or  the  Bank's  then   outstanding
securities,  (c) the  membership of the board of directors of the Company or the
Bank changes as the result of a contested  election,  such that  individuals who
were  directors  at the  beginning  of any  twenty-four  month  period  (whether
commencing  before or after the date of adoption of this Plan) do not constitute
a majority of the Board at the end of such period,  or (d)  shareholders  of the
Company or the Bank approve a merger, consolidation,  sale or disposition of all
or substantially all of the Company's or the Bank's assets, or a plan of partial
or complete  liquidation.  If any of the events  enumerated in clauses (a) - (d)
occur,  the Board shall  determine the  effective  date of the change in control
resulting therefrom, for purposes of the Plan.

         "Code" shall mean the Internal Revenue Code of 1986, as amended.

         "Committee"  shall mean a committee of the Board consisting of at least
two nonemployee  directors  designated by the Board to administer the Plan. If a
separate  committee is not designated by the Board, the Board shall serve as the
Committee for all purposes under the Plan.

                                       1
<PAGE>

         "Company"  shall mean Chester  Bancorp,  Inc., a Delaware  corporation,
together with any successor thereto.

         "Director Option" shall mean a Non-Qualified Stock Option granted to an
Eligible Director pursuant to Section 6(e).

         "Disability"  shall have the meaning  set forth in Section  22(e)(3) of
the  Code.  For  purposes  of the  Plan,  all  determinations  as to  whether  a
Participant  has become  disabled  shall be made by a majority of the Board upon
the basis of such  evidence as it deems  necessary  or  desirable,  and shall be
final and binding on all interested persons.

         "Effective  Date"  shall mean the date of  shareholder  approval of the
Plan.

         "Eligible Director" shall mean, on any date, a person who is serving as
a member of the Board but shall not include a person who is an Employee.

         "Employee" shall mean an employee of the Company or any Affiliate.

         "Exchange  Act"  shall mean the  Securities  Exchange  Act of 1934,  as
amended.

         "Fair Market Value" shall be determined as follows:

                  (a) If the Shares  are  traded or quoted on the  Nasdaq  Stock
                  Market at the time of grant of the Award, then the Fair Market
                  Value shall be the  average of the highest and lowest  selling
                  price on such  exchange  on the date such Award is granted or,
                  if there  were no sales on such  date,  then on the next prior
                  business day on which there was a sale.

                  (b) If the Shares are not traded or quoted on the Nasdaq Stock
                  Market, then the Fair Market Value shall be a value determined
                  by the  Committee  in good  faith  on such  basis  as it deems
                  appropriate.

         "Incentive Stock Option" shall mean a right to purchase Shares from the
Company that is granted under Section 6 of the Plan and that is intended to meet
the requirements of Section 422 of the Code or any successor provision thereto.

         "Non-Qualified Stock Option" shall mean a right to purchase Shares from
the Company that is granted under Section 6 of the Plan and that is not intended
to be an Incentive Stock Option.

         "Option" shall mean an Incentive Stock Option or a Non-Qualified  Stock
Option but shall not include a Director Option.

         "Participant"  shall mean any Employee or Eligible Director selected by
the  Committee  to  receive  an  Award  of  Options  or  Director  Options,   as
appropriate.

         "Person"   shall  mean  any   individual,   corporation,   partnership,
association, joint-stock company, trust, unincorporated organization, government
or political subdivision thereof or other entity.

         "Plan" shall mean this Chester Bancorp, Inc. 1997 Stock Option Plan.

                                       2
<PAGE>

         "Rule 16b-3" shall mean Rule 16b-3 as  promulgated  and  interpreted by
the SEC under the Exchange Act, or any successor  rule or regulation  thereto as
in effect from time to time.

         "SEC"  shall  mean  the  Securities  and  Exchange  Commission  or  any
successor thereto and shall include the staff thereof.

         "Shares"  shall  mean  common  shares  of the  Company,  or such  other
securities of the Company as may be  designated  by the  Committee  from time to
time.

         "Ten Percent  Stockholder"  shall mean any stockholder who, at the time
an  Incentive  Stock  Option is granted to such  stockholder,  owns  (within the
meaning of Section 424(d) of the Code) more than ten percent (10%) of the voting
power of all classes of stock of the Company.

         "Termination   for  Cause"   shall  mean   termination   because  of  a
Participant's personal dishonesty,  incompetence,  willful misconduct, breach of
fiduciary duty involving personal profit,  intentional failure to perform stated
duties,  willful  violation of any law, rule, or regulation  (other than traffic
violations  or similar  offenses)  or material  breach of any  provision  of any
employment agreement between the Company or the Banks and a Participant.

SECTION 3.   Administration.

         (a) The Plan shall be  administered  by the  Committee.  Subject to the
terms of the Plan and  applicable  law, and in addition to other express  powers
and  authorizations  conferred on the Committee by the Plan, the Committee shall
have full power and authority to: (i) designate Participants; (ii) determine the
type or types of Awards to be granted to an eligible  Employee;  (iii) determine
the  number of Shares to be  covered  by,  or with  respect  to which  payments,
rights, or other matters are to be calculated in connection with,  Awards;  (iv)
determine the terms and conditions of any Award; (v) determine whether,  to what
extent, and under what circumstances Awards may be settled or exercised in cash,
Shares,  other  securities,   other  Awards  or  other  property,  or  canceled,
forfeited, or suspended;  (vi) determine whether, to what extent, and under what
circumstances cash, Shares, other securities,  other Awards, other property, and
other  amounts  payable  with  respect  to an  Award  shall be  deferred  either
automatically  or at the  election  of the holder  thereof or of the  Committee;
(vii) interpret and administer the Plan and any instrument or agreement relating
to, or Award made under, the Plan; (viii) establish,  amend,  suspend,  or waive
such rules and regulations and appoint such agents as it shall deem  appropriate
for the proper administration of the Plan; and (ix) make any other determination
and take any other action that the  Committee  deems  necessary or desirable for
the administration of the Plan.

         (b) Unless otherwise  expressly provided in the Plan, all designations,
determinations,  interpretations,  and other  decisions under or with respect to
the Plan or any Award shall be within the sole discretion of the Committee,  may
be made at any time  and  shall  be  final,  conclusive,  and  binding  upon all
Persons,  including the Company,  and Participant,  any holder or beneficiary of
any Award, any shareholder and any Employee.

SECTION 4.   Shares Available for Awards.

         (a) Shares  Available.  Subject to  adjustment  as  provided in Section
4(b),  the number of Shares with respect to which  Options and Director  Options
may be granted under the Plan shall be 218,212.  If, after the effective date of
the Plan, any Shares  covered by an Option or Director  Option granted under the
Plan, or to which such an Option or Director Option relates,  are forfeited,  or
if an Option or Director Option otherwise  terminates or is canceled without the

                                       3
<PAGE>

delivery of Shares,  then the Shares covered by such Option or Director  Option,
or to which such  Option or  Director  Option  relates,  or the number of Shares
otherwise  counted against the aggregate  number of Shares with respect to which
Options  and  Director  Options  may be  granted,  to  the  extent  of any  such
settlement,  forfeiture,  termination or cancellation,  shall again be, or shall
become,  Shares  with  respect to which  Options  and  Director  Options  may be
granted.  In the event that any Option or Director  Option is exercised  through
the delivery of Shares, the number of Shares available for Awards under the plan
shall be increased by the number of Shares surrendered.

         (b) Adjustments.  In the event that any dividend or other  distribution
(whether in the form of cash,  Shares,  other  securities,  or other  property),
recapitalization,  stock split,  reverse  stock split,  reorganization,  merger,
consolidation,  split-up,  spin-off,  combination,  repurchase,  or  exchange of
Shares or other securities of the Company,  issuance of warrants or other rights
to  purchase  Shares  or other  securities  of the  Company,  or  other  similar
corporate  transaction  or event  affects the Shares such that an  adjustment is
necessary  in order to  prevent  dilution  or  enlargement  of the  benefits  or
potential  benefits  intended  to be made  available  under the  Plan,  then the
Committee  shall  proportionately  adjust any or all (as  necessary)  of (i) the
number of Shares or other securities of the Company (or number and kind of other
securities or property)  with respect to which Awards may be granted,  including
an Award pursuant to Section 6(e), (ii) the number of Shares or other securities
of the Company (or number and kind of other  securities or property)  subject to
outstanding  Awards,  and (iii) the grant or exercise  price with respect to any
Award;  provided,  in each case,  that with respect to Awards of Incentive Stock
Option no such adjustment  shall be authorized to the extent that such authority
would cause the Plan to violate  Section  422(b)(1) of the Code, as from time to
time amended.

         (c) Sources of Shares.  Any Shares  delivered  pursuant to an Option or
Director  Option may consist,  in whole or in part, of  authorized  and unissued
Shares or of treasury Shares.

SECTION 5.   Eligibility.  An    Employee,    including    any    officer     or
employee-director  of the Company, who is not a member of the Committee shall be
eligible  to be  designated  a  Participant.  Each  Eligible  Director  shall be
eligible to receive Director Options in accordance with Section 6(e) hereof.

SECTION 6.   Options and Director Options.

         (a) Grant.  Subject to the provisions of the Plan, the Committee  shall
have sole and  complete  authority to  determine  the  Employees to whom Options
shall be granted,  the number of Shares to be covered by each Option, the option
price therefor and the conditions and limitations  applicable to the exercise of
the option.  The  Committee  shall have the authority to grant  Incentive  Stock
Options,  or to grant  Non-Qualified  Stock  Options,  or to grant both types of
options.  In such case of Incentive  Stock Options,  the terms and conditions of
such grants shall be subject to and comply with such rules as may be  prescribed
by Section 422 of the Code,  as from time to time amended,  and any  regulations
implementing  such statute,  including without  limitation,  the requirements of
Code Section  422(d),  which limits the aggregate fair market value of Shares of
which Incentive Stock Options are exercisable for the first time to $100,000 per
calendar year.  Each provision of the Plan and of each written option  agreement
relating to an Option designated an Incentive Stock Option shall be construed so
that such Option qualifies as an Incentive Stock Option,  and any provision that
cannot be so construed shall be disregarded.

                                       4
<PAGE>

         (b) Exercise Price. The Committee shall establish the exercise price at
the time each  Option or Director  Option is  granted,  which price shall not be
less than one hundred  percent  (100%) of the per Share Fair Market Value on the
date of grant. Notwithstanding any provision contained herein, in the case of an
Incentive  Stock Option,  the exercise  price at the time such  Incentive  Stock
Option is granted  to any  Employee  who,  at the time of such  grant,  is a Ten
Percent  Stockholder,  shall not be less than one hundred ten percent  (110%) of
the per Share Fair Market Value on the date of grant.

         (c) Exercise.  Each  Option   shall be  exercisable  at such  times and
subject  to  such  terms  and  conditions  as the  Committee  may,  in its  sole
discretion,  specify in the applicable Award Agreement or thereafter;  provided,
in the case of an Incentive  Stock Option,  a Participant  may not exercise such
Option as an  Incentive  Stock Option after the earlier of (i) the date which is
ten (10) years (five (5) years in the case of a Participant who is a Ten Percent
Stockholder) after the date on which such Incentive Stock Option is granted,  or
(ii) the date which is three (3)  months  (twelve  (12)  months in the case of a
Participant who becomes Disabled, or who dies) after the date on which he ceases
to be an employee of the Company or an Affiliate, and provided, further, that no
Award of Options  under the Plan shall vest more  rapidly  than  ratably  over a
five-year period whereby twenty percent (20%) of the Award shall vest on each of
the first  through the fifth  anniversaries  of the date of grant so long as the
Participant remains employed by the Company or an Affiliate;  provided, further,
that an Award of  Options  shall be one  hundred  (100)  percent  vested  upon a
Participant's death or Disability. In the event of an Employee's Termination for
Cause,  his Options  shall be canceled on the date he ceases to be an  Employee.
The  Committee  may impose  such  conditions  with  respect to the  exercise  of
Options,  including  without  limitation,  any  relating to the  application  of
federal or state  securities  laws, as it may deem  necessary or advisable.  The
Committee shall have the right to accelerate the exercisability of any Option or
outstanding Options in its discretion.

         (d) Payment.  No Shares shall be delivered  pursuant to any exercise of
an Option or Director  Option until payment in full of the option price therefor
is received by the Company.  Such payment may be made in cash or its equivalent,
or, if and to the extent permitted by the Committee,  by exchanging Shares owned
by the  optionee  (which are not the  subject  of any  pledge or other  security
interest),  or by a  combination  of the  foregoing,  provided that the combined
value of all cash and cash  equivalents  and the Fair  Market  Value of any such
Shares so  tendered  to the  Company  as of the date of such  tender is at least
equal to such option price.

         (e) Director  Options.  Subject  to  the  provisions  of the Plan,  the
Committee  shall have sole and  complete  authority  to  determine  the Eligible
Directors to whom Director Options shall be granted,  the number of shares to be
covered by each Director Option and the conditions and limitations applicable to
the exercise of each Director Option.  Each Award of Director Options shall vest
ratably over a five (5) year period  whereby  twenty  percent (20%) of the Award
shall vest on each of the first through the fifth  anniversaries  of the date of
grant so long as the  Eligible  Director  continues  to serve as a member of the
Board or is designated a Director Emeritus;  provided,  however,  that the Award
shall  be one  hundred  (100)  percent  vested  in  the  event  of the  Eligible
Director's death or Disability. A Director Option shall be exercisable until the
tenth anniversary of the date of grant of such Director Option and the estate of
an Eligible  Director shall retain the right to exercise the Director  Option in
the event of the Eligible  Director's  death.  An Eligible  Director may pay the
exercise price of a Director Option in the manner described in Section 6(d).

         (f) Effect of a Change in Control. In the event of a Change in Control,
all  then  outstanding  Options  and  Director  Options,  shall  (to the  extent
authorized  or not  prohibited  by  applicable  law or  regulations)  become one
hundred  percent  (100%) vested and  exercisable as of the effective date of the
Change in Control.  If, in connection  with or as a  consequence  of a Change in

                                       5
<PAGE>

Control,  the Company or the Bank is merged into or  consolidated  with  another
corporation,  or if the  Company  or the Bank  sells or  otherwise  disposes  of
substantially all of its assets to another  corporation,  then unless provisions
are made in connection  with such  transaction  for the  continuance of the Plan
and/or the assumption or substitution of then  outstanding  Options and Director
Options with new options  covering the stock of the  successor  corporation,  or
parent or subsidiary thereof, with appropriate  adjustments as to the number and
kind of shares and prices, such Options or Director Options shall be canceled as
of the effective date of the merger, consolidation,  or sale and the Participant
or Eligible  Director  shall be paid in cash an amount  equal to the  difference
between the Fair Market  Value of the Shares  subject to the Options or Director
Options as of the effective  date of the such  corporate  event and the exercise
price of the Options or Director Options, as appropriate.

         (g) Limitation  on  Awards.  Notwithstanding  anything  herein  to  the
contrary, if this Plan is implemented within one year of the consummation of the
Company's  mutual-to-stock  conversion,  (i) no Employee  shall receive an Award
covering in excess of twenty five (25) percent,  (ii) no Eligible Director shall
receive in excess of five (5) percent  and (iii)  Eligible  Directors  as of the
Effective  Date  shall not  receive  in excess of  thirty  (30)  percent  in the
aggregate, of the number of shares reserved for issuance under the Plan.

SECTION 7.   Amendment and Termination.

         (a) Amendments  to the  Plan.  The Board  may  amend,  alter,  suspend,
discontinue,  or terminate the Plan or any portion thereof at any time; provided
that no such amendment, alteration,  suspension,  discontinuation or termination
shall be made  without  shareholder  approval if such  approval is  necessary to
comply with any tax or regulatory requirement

         (b) Amendments  to Awards.  Except  as  provided  under  Section 3, the
Committee  may waive any  conditions  or  rights  under,  amend any terms of, or
alter, suspend, discontinue, cancel or terminate, any Award theretofore granted,
prospectively  or  retroactively;  provided  that  any such  waiver,  amendment,
alteration, suspension,  discontinuance,  cancellation or termination that would
impair the rights of any  Participant  or any holder or beneficiary of any Award
theretofore granted shall not to that extent be effective without the consent of
the affected Participant, holder or beneficiary.

         (c) Cancellation.  Any provision of this Plan or any Award Agreement to
the  contrary  notwithstanding,  the  Committee  may cause any Award of  Options
granted  hereunder to be canceled in consideration of the granting to the holder
of an alternative  Award of Options having a Fair Market Value equal to the Fair
Market Value of such canceled Award.

SECTION 8.        General Provisions.

         (a) Nontransferability.

             (i)  Each   Award,  and  each  right  under  any  Award,  shall  be
exercisable  only  by  the  Participant  during  his  or her  lifetime,  or,  if
permissible  under  applicable  law,  by the  Participant's  guardian  or  legal
representative  or a  transferee  receiving  such Award  pursuant  to a domestic
relations order, or Section 8(a)(ii) as determined by the Committee.

                                       6
<PAGE>

             (ii) No  Award  may  be  assigned,  alienated,  pledged,  attached,
sold or otherwise  transferred or encumbered by a Participant  otherwise than by
will or by the laws of  descent  and  distribution  or  pursuant  to a  domestic
relations  order,  and  any  such  purported  assignment,   alienation,  pledge,
attachment,  sale,  transfer  or  encumbrance  shall be void  and  unenforceable
against the Company;  provided,  however,  that the designation of a beneficiary
shall not  constitute  an  assignment,  alienation,  pledge,  attachment,  sale,
transfer or encumbrance.  Notwithstanding the preceding sentence,  the Committee
shall have  discretionary  authority to permit the transfer of any Non-Qualified
Stock Option to members of a Participant's  immediate  family,  including trusts
for the benefit of such family  members  and  partnerships  in which such family
members  are  the  only  partners;   provided,   however,   that  a  transferred
Non-Qualified  Stock Option may be exercised by the  transferee on any date only
to the extent that the  Participant  would have been  entitled  to exercise  the
Non-Qualified  Stock Option on such date had the Non-Qualified  Stock Option not
been  transferred.  Any  transferred  Non-Qualified  Stock  Option  shall remain
subject to the terms and conditions of the Participant's Award Agreement.

         (b) No Rights to Awards. No Employee, Participant or other Person shall
have any  claim  to be  granted  any  Award,  and  there  is no  obligation  for
uniformity of treatment of Employees,  Participants, or holders or beneficiaries
of Awards.  The terms and conditions of Awards need not be the same with respect
to each recipient.

         (c) Share  Certificates.  All Shares or other securities of the Company
delivered under the Plan pursuant to any Award or the exercise  thereof shall be
subject to such stop transfer orders and other restrictions as the Committee may
deem advisable under the Plan or the rules, regulations,  and other requirements
of the SEC, any stock  exchange or national  securities  association  upon which
such Shares or other securities are then listed,  and any applicable  Federal or
state  laws,  and the  Committee  may cause a legend or legends to be put on any
certificates  representing  such Shares or other  securities to make appropriate
reference to such restrictions.

         (d) Delegation. Subject  to  the  terms of the Plan and applicable law,
the  Committee  may delegate to one or more officers or managers of the Company,
or to a committee of such officers or managers,  the authority,  subject to such
terms and limitations as the Committee shall  determine,  to grant Awards to, or
to cancel,  modify or waive  rights with  respect to, or to alter,  discontinue,
suspend,  or  terminate  Awards  held  by,  Employees  who are not  officers  or
directors of the Company for purposed of Section 16 of the Exchange  Act, or any
successor section thereto, or who are otherwise not subject to such Section.

         (e) Withholding.  A Participant shall be required to pay to the Company
and the  Company is hereby  authorized  to  withhold  from any  Award,  from any
payment due or transfer made under any Award or from any  compensation  or other
amount owing to a Participant the amount of any applicable  withholding taxes in
respect of an Award, its exercise, or any payment or transfer under an Award and
to take such other  action as may be  necessary in the opinion of the Company to
satisfy  all  obligations  for the  payment of such  taxes,  including,  but not
limited  to, the  withholding  of the  issuance  of Shares to be issued upon the
exercise of any Option or Director Option until the  Participant  reimburses the
Company for any amount required to be withheld.

         (f) Award  Agreements.  Each Award  hereunder  shall be evidenced by an
Award  Agreement  which shall be delivered to the  Participant and shall specify
the terms and conditions of the Award and any rules applicable thereto.

                                       7
<PAGE>

         (g) No Limit on Other Compensation  Arrangements.  Nothing contained in
the Plan shall prevent the Company or any Affiliate  from adopting or continuing
in effect other compensation arrangements,  which may, but need not, provide for
the  grant of  options,  restricted  stock,  Shares  and  other  types of Awards
provided for  hereunder  (subject to  shareholder  approval if such  approval is
required),   and  such  arrangements  may  be  either  generally  applicable  or
applicable only in specific cases.

         (h) No  Right  to  Employment.  The  grant  of an  Award  shall  not be
construed as giving a Participant  the right to be retained in the employ of the
Company  or an  Affiliate.  Further,  the  Company  may at any  time  dismiss  a
Participant  from  employment,  free from any  liability  or any claim under the
Plan, unless otherwise expressly provide in the Plan or in any Award Agreement.

         (i) No  Rights  as  Stockholder.  Subject  to  the  provisions  of  the
applicable  Award,  no  Participant  or holder or beneficiary of any Award shall
have any rights as a  stockholder  with respect to any Shares to be  distributed
under the Plan until he or she has become the holder of such Shares.

         (j) Governing Law. The validity,  construction,  and effect of the Plan
and any rules and regulations relating to the Plan and any Award Agreement shall
be  determined  in  accordance  with the laws of the State of Illinois,  without
giving effect to the choice of law principles thereof.

         (k) Severability.  If  any  provisions  of the Plan or any  Award is or
becomes  or  is  deemed  to  be  invalid,   illegal,  or  unenforceable  in  any
jurisdiction or as to any Person or Award,  or would  disqualify the Plan or any
Award under any law deemed applicable by the Committee,  such provision shall be
construed or deemed amended to conform to the  applicable  laws, or if it cannot
be construed or deemed amended without,  in the  determination of the Committee,
materially altering the intent of the Plan or the Award, such provision shall be
stricken as to such jurisdiction,  Person or Award and the remainder of the Plan
and any such Award shall remain in full force and effect.

         (l) Other  Laws.  The  Committee  may refuse to issue or  transfer  any
Shares or other  consideration under an Award if, acting in its sole discretion,
it  determines  that the  issuance  or  transfer  of such  Shares or such  other
consideration  might  violate any  applicable  law or  regulation or entitle the
Company to recovery  under  Section  16(b) of the Exchange  Act, and any payment
tendered  to the  Company  by a  Participant,  other  holder or  beneficiary  in
connection  with the  exercise of such Award  shall be promptly  refunded to the
relevant Participant, holder or beneficiary.  Without limiting the generality of
the foregoing, no Award granted hereunder shall be construed as an offer to sell
securities of the Company,  and no such offer shall be  outstanding,  unless and
until the Committee in its sole  discretion has determined  that any such offer,
if made,  would be in compliance  with all applicable  requirements  of the U.S.
federal securities laws.

         (m) No Trust or Fund  Created.  Neither  the Plan nor any  Award  shall
create  or be  construed  to  create a trust or  separate  fund of any kind or a
fiduciary  relationship  between  the  Company  and a  Participant  or any other
Person.  To the extent that any Person acquires a right to receive payments from
the Company pursuant to an Award, such rights shall be no greater than the right
of any unsecured general creditor of the Company.

         (n) Rule 16b-3  Compliance.  With respect to persons subject to Section
16 of the Exchange Act, transactions under this Plan are intended to comply with
all applicable terms and conditions of Rule 16b-3 and any successor  provisions.
To the extent that any provision of the Plan or action by the Committee fails to
so comply,  it shall be deemed null and void, to the extent permitted by law and
deemed advisable by the Committee.

                                       8
<PAGE>

         (o) Headings.  Heading are given to the Sections and subsections of the
Plan solely as a convenience to facilitate reference. Such headings shall not be
deemed in any way material or relevant to the construction or  interpretation of
the Plan or any provision thereof.

         (p) No Impact on Benefits. Unless specifically provided under any other
benefit  plan of the Company or its  Affiliates,  Awards shall not be treated as
compensation  for purposes of calculating  an Employee's or Eligible  Director's
rights under such benefit plans.

         (q) Indemnification.  Each person who is or shall have been a member of
the  Committee  or of the Board shall be  indemnified  and held  harmless by the
Company  against  and from any loss,  cost,  liability,  or expense  that may be
imposed upon or reasonably  incurred by him in connection with or resulting from
any claim,  action,  suit,  or  proceeding to which he may be made a party or in
which he may be involved  by reason of any action  taken or failure to act under
the Plan and  against  and from any and all  amounts  paid by him in  settlement
thereof,  with the Company's  approval,  or paid by him in  satisfaction  of any
judgment in any such action,  suit, or proceeding against him, provided he shall
give the Company an  opportunity,  at its own expense,  to handle and defend the
same  before he  undertakes  to handle  and  defend  it on his own  behalf.  The
foregoing  right  of  indemnification  shall  not  be  exclusive  and  shall  be
independent of any other rights of  indemnification to which such persons may be
entitled under the Company's  articles of incorporation or bylaws,  by contract,
as a matter of law, or otherwise.

SECTION 9.   Term of the Plan.

         (a) Effective Date. The Plan shall become  effective only upon approval
by a majority of the Company's  stockholders  at an annual or special meeting of
stockholders  of the Company held not less than six (6) months after the date of
closing of the  Banks'  mutual-to-stock  conversion  nor more than  twelve  (12)
months after the date of adoption of the Plan by the Board.

         (b) Expiration  Date. The Plan shall terminate on and no Award shall be
granted under the Plan after the tenth anniversary of the Effective Date. Unless
otherwise  expressly  provided in the Plan or in an applicable  Award Agreement,
any Award granted hereunder may, and the authority of the Board or the Committee
to amend, alter, adjust, suspend, discontinue, or terminate any such Award or to
waive any  conditions or rights under any such Award shall,  continue  after the
tenth anniversary of the Effective Date.

                                       9

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