Document:

Executive Employment Agreement dated as of April 4, 2006 between Mutual Federal
      Bancorp, Inc., Mutual Federal Savings and Loan Association of Chicago and John
      L. Garlanger

    
      EXHIBIT 10.3

       

      EXECUTIVE
        EMPLOYMENT AGREEMENT
         

      

      THIS
        AGREEMENT, made and entered into as of April 4, 2006 (the “Effective
        Date”),
        by
        and among Mutual Federal Bancorp, Inc. (hereinafter referred to as “MFB”),
        Mutual Federal Savings and Loan Association of Chicago (the “Bank”
or
        “Employer”),
        and
        John L. Garlanger (hereinafter called the “Executive”).

       

      W
        I T
        N E S S E T H   T H A T:

       

      WHEREAS, the
        Bank
        desires to continue to employ the Executive as Executive Vice President and
        Chief Financial Officer of the Bank, and the Executive desires to continue
        in
        such employment;

       

      NOW,
        THEREFORE, in consideration of the mutual promises herein contained and subject
        to the conditions precedent set forth herein, the parties agree as
        follows:

       

      1.  Employment
        and Term.

       

      (a)  Employment.
        The
        Bank shall employ the Executive as the Executive Vice President and Chief
        Financial Officer of the Bank, and the Executive shall so serve, for the
        term
        set forth in Paragraph 1(b).

       

      (b)  Term.
        The
        Executive’s employment under this Agreement shall commence on the Effective Date
        and extend through April 3, 2008, subject to the extension of such term as
        hereinafter provided and subject to earlier termination as provided in
        Paragraph 7. The term of this Agreement shall be extended for
        an additional
        year as of April 4, 2007 and each anniversary date thereof, provided that
        the
        board of directors of the Bank (the “Board”),
        or a
        duly authorized committee thereof, on behalf of the Bank, determines that
        the
        Agreement should be so extended. If the Board determines that the Agreement
        should not be so extended, then, no later than ninety (90) days prior to
        any
        such renewal date, the Board shall give notice to the Executive, in accordance
        with Paragraph 15, that the term of this Agreement shall not be so
        extended. In this regard, the Board will review the Agreement and the
        Executive’s performance annually for purposes of determining whether to extend
        the Agreement, and the results thereof shall be included in the minutes of
        the
        Board’s meeting. The Executive may also give notice, no later than ninety (90)
        days prior to any renewal date, in accordance with Paragraph 15, that the
        term of the Agreement shall not be so extended.

       

      2.  Duties
        and Responsibilities.

       

      (a)  The
        duties and responsibilities of the Executive shall be of an executive nature
        as
        shall be required by the Employer in the conduct of its business. The
        Executive’s powers and authority shall be as prescribed by the bylaws of the
        Employer, if applicable, and shall include all those presently delegated
        to the
        Executive, together with the performance of such other duties and
        responsibilities as the Chief Executive Officer of the Employer may from
        time to
        time assign to the Executive not inconsistent with the Executive’s position(s)
        with the Employer. The Executive recognizes, that during the period of the
        Executive’s employment

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      hereunder,
        the Executive owes an undivided duty of loyalty to the Employer, and agrees
        to
        devote the Executive’s entire business time and attention to the performance of
        said duties and responsibilities and to use the Executive’s best efforts to
        promote and develop the business of the Employer. Recognizing and acknowledging
        that it is essential for the protection and enhancement of the name and business
        of the Employer and the goodwill pertaining thereto, the Executive shall
        perform
        his duties under this Agreement professionally, in accordance with the
        applicable laws, rules and regulations and such standards, policies and
        procedures established by the Employer and the industry from time to time.
        The
        Executive will not perform any duties for any other business without the
        prior
        written consent of the Employer, but may engage in charitable, civic or
        community activities, provided that such duties or activities do not materially
        interfere with the proper performance of the Executive’s duties under this
        Agreement.

       

      (b)  Notwithstanding
        that this Agreement provides for the employment of the Executive in the
        Executive’s capacity as the Executive Vice President and Chief Financial Officer
        of the Bank, nothing herein contained shall assure the Executive of, nor
        in any
        manner shall be construed to constitute an agreement by the Employer to the
        continued employment of the Executive after the expiration or termination
        of
        this Agreement in such capacity or in any other capacity.

       

      3.  Base
        Salary.
        For
        services performed by the Executive for the Employer pursuant to this Agreement
        during the period of employment as provided in Paragraph 1(b) hereof, the
        Employer shall pay the Executive a base salary at the rate of ninety-two
        thousand dollars ($92,000) per year, payable in substantially equal installments
        in accordance with the Employer’s regular payroll practices. The Executive’s
        base salary (with any increases under this Paragraph 3) shall not be subject
        to
        reduction without the Executive’s written consent. Any compensation which may be
        paid to the Executive under any additional compensation or incentive plan
        of the
        Employer or which may be otherwise authorized from time to time by the Board
        (or
        an appropriate committee thereof) shall be in addition to the base salary
        to
        which the Executive shall be entitled under this Agreement. Executive’s base
        salary shall be subject to review from time to time, and the Employer may
        (but
        is not required to) increase the base salary as the Board, in its discretion,
        may determine.

       

      4.  Annual
        Bonuses.
        For
        each fiscal year during the term of employment, the Executive shall be eligible
        to receive a bonus in the amount, if any, as may be determined from time
        to time
        by the Board in its discretion.

       

      5.  Equity-Based
        Compensation.
        During
        the term of employment hereunder, the Executive shall be eligible to participate
        in any equity-based compensation plan or program adopted by the
        Employer.

       

      6.  Other
        Benefits.
        In
        addition to the compensation described in Paragraphs 3, 4 and 5, above, the
        Executive shall also be entitled to the following:

       

      (a)  Participation
        in Benefit Plans.
        The
        Executive shall be entitled to participate in such life insurance, disability,
        medical, dental, pension, profit sharing and retirement plans and other programs
        as may be made generally available from time to time by the Employer for
        the
        benefit of executives of the Executive’s level or its employees
        generally.

       

      
        
          
          

        

        
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      (b)  Vacation.
        The
        Executive shall be entitled to such number of days of vacation with pay during
        each calendar year during the period of employment in accordance with the
        Employer’s applicable personnel policy as in effect from time to
        time.

       

      (c)  Executive
        Perquisites.
        The
        Employer shall furnish Executive with such perquisites as are provided from
        time
        to time by the Employer to its officers generally and are suitable to the
        Executive’s position, adequate for the performance of the Executive’s duties
        hereunder, and reasonable in the circumstances.

       

      (d)  Expense
        Reimbursement.
        The
        Employer shall reimburse the Executive for all reasonable expenses incurred
        by
        the Executive in performing services hereunder, which are incurred and accounted
        for in accordance with the Employer’s policies and procedures applicable
        thereto.

       

      7.  Termination.
        The
        provisions of this Section 7 shall be subject to the terms and conditions
        stated in Section 15. The Board may terminate the Executive’s employment
        with the Bank at any time, but any termination by the Board, other than
        termination for Cause, shall not prejudice Executive’s right to compensation or
        other benefits under this Agreement. Executive shall not have the right to
        receive compensation or other benefits for any period after termination for
        Cause. Paragraph 8 hereof sets forth certain obligations of the Employer in
        the event that the Executive’s employment hereunder is terminated. Certain
        capitalized terms used in this Paragraph 7 and in Paragraph 8 hereof
        are defined in Paragraph 7(d), below. In the event of termination of the
        Executive’s employment with the Employer for any reason, or if the Executive is
        required by the Board, the Executive agrees to resign, and shall automatically
        be deemed to have resigned, from any offices (including any directorship)
        the
        Executive holds with the Employer and/or any of its affiliates effective
        as of
        the termination date of the Executive’s employment hereunder, or, if applicable,
        effective as of a date selected by the Board; provided, however, that the
        foregoing resignation shall not prejudice or otherwise affect the Executive’s
        rights and obligations, if any, under this Agreement.

       

      (a)  Death
        or Disability.
        Except
        to the extent otherwise provided in Paragraphs 8, 11 and 12 with respect to
        certain post-Date of Termination obligations of the parties, this Agreement
        shall terminate immediately as of the Date of Termination in the event of
        the
        Executive’s death or in the event that the Executive becomes Disabled (as
        hereinafter defined). The Board shall promptly give the Executive written
        notice
        of any such determination of the Executive’s Disability and of any decision of
        the Board to terminate the Executive’s employment by reason thereof. In the
        event of Disability, until the Date of Termination, the base salary payable
        to
        the Executive under Paragraph 3 hereof shall be reduced dollar-for-dollar
        by the amount of disability benefits, if any, paid to the Executive in
        accordance with any disability policy or program of the Employer. 

       

      (b)  Discharge
        for Cause.
        In
        accordance with the procedures hereinafter set forth, the Board may discharge
        the Executive from the Executive’s employment hereunder for Cause (as
        hereinafter defined). Except to the extent otherwise provided in
        Paragraphs 8, 11 and 12 with respect to certain post-Date of Termination
        obligations of the parties, this Agreement shall terminate immediately as
        of the
        Date of Termination in the event the Executive is discharged for Cause. Any
        discharge of the Executive for Cause shall be communicated by a 

       

      
        
          
          

        

        
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      Notice
        of
        Termination to the Executive given in accordance with Paragraph 14 of this
        Agreement.

       

      (c)  Termination
        for Other Reasons.
        The
        Employer may discharge the Executive without Cause by giving written notice
        to
        the Executive in accordance with Paragraph 14. The Executive may resign
        from the Executive’s employment with or without Good Reason, without liability
        to the Employer, by giving written notice to the Employer in accordance with
        Paragraph 14 at least thirty (30) days prior to the Date of
        Termination; provided, however, that no resignation shall be treated as a
        resignation for Good Reason unless the written notice thereof is given within
        sixty (60) days after the occurrence which constitutes “Good Reason” or
        during the ninety (90) day period described in the final sentence of
        Paragraph 7(d)(vi); provided, further, that the Employer retains the right
        after proper notice of the Executive’s voluntary termination to require the
        Executive to cease the Executive’s employment immediately. Except to the extent
        otherwise provided in Paragraphs 8, 11 and 12 with respect to certain
        post-Date of Termination obligations of the parties, this Agreement shall
        terminate immediately as of the Date of Termination in the event the Executive
        is discharged without Cause or resigns for any reason or no reason.

       

      (d)  Definitions.
        For
        purposes of this Agreement, the following capitalized terms shall have the
        meanings set forth below:

       

      (i)  “Accrued
        Obligations”
shall
        mean, as of the Date of Termination, the sum of (A) the Executive’s base
        salary under Paragraph 3 through the Date of Termination to the extent not
        theretofore paid, (B) the amount of any deferred compensation and other
        cash compensation accrued by the Executive as of the Date of Termination
        to the
        extent not theretofore paid, (C) any vacation pay, expense reimbursements
        and other cash entitlements accrued by the Executive as of the Date of
        Termination to the extent not theretofore paid, (D) any grants and awards
        vested or accrued under any equity-based compensation plan or program and
        (E) all other benefits which have accrued as of the Date of Termination.
        For the purpose of this Paragraph 7(d)(i), except as provided in the
        applicable plan, program or policy, amounts shall be deemed to accrue ratably
        over the period during which they are earned, but no discretionary compensation
        shall be deemed earned or accrued until it is specifically approved by the
        Board
        in accordance with the applicable plan, program or policy.

       

      (ii)  “Cause”
shall
        mean the Executive’s personal dishonesty, incompetence, willful misconduct,
        breach of fiduciary duty involving personal profit, intentional failure to
        perform stated duties, willful violation of any law, rule, or regulation
        (other
        than traffic violations or similar offenses) or final cease-and-desist order,
        or
        material breach of any provision of this agreement; provided, however, that
        no
        act or omission by the Executive shall constitute Cause hereunder unless
        the
        Employer has given detailed written notice thereof to the Executive, and
        the
        Executive has failed to remedy such act or omission.

       

      (iii)  “Change
        in Control”
shall
        mean the occurrence of any one of the following events:

       

      
        
          
          

        

        
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      (A)  Any
        “person” (as such term is used in Sections 13(d) and 14(d) of the
        Securities Exchange Act of 1934, as amended), other than a trustee or other
        fiduciary holding securities under an employee benefit plan of MFB or any
        of its
        subsidiaries, who is or becomes the “beneficial owner” (as defined in
        Rule 13d-3 under said Act), directly or indirectly, of securities of MFB
        representing 25% or more of the total voting power of the then outstanding
        shares of capital stock of MFB entitled to vote generally in the election
        of
        directors (the “Voting
        Stock”);
        provided, however, that the following shall not constitute a change in control:
        (1) the ownership of 25% or more of the Voting Stock by Mutual Federal
        Bancorp, MHC; (2) a person becomes a beneficial owner of 25% or more of the
        Voting Stock as the result of an acquisition of such Voting Stock directly
        from
        MFB; (3) a person becomes a beneficial owner of 25% or more of the Voting
        Stock as a result of the decrease in the number of outstanding shares of
        Voting
        Stock caused by the repurchase of shares by MFB; or (4) a person becomes a
        beneficial owner of 25% or more of the Voting Stock as the result of a
        transaction involving the second stage conversion of any holding company
        of the
        Bank, or

       

      (B)  During
        any period of two consecutive years, individuals (the “Incumbent
        Board”),
        who
        at the beginning of such period constitute the Board, and any new director,
        whose election by the Board or nomination for election by MFB’s stockholders was
        approved by a vote of at least two-thirds (2/3) of the directors then still
        in
        office who either were directors at the beginning of the period or whose
        election or nomination for election was previously so approved, cease for
        any
        reason to constitute a majority thereof, or

       

      (C)  Consummation
        of a reorganization, merger or consolidation or the sale or other disposition
        of
        all or substantially all of the assets of MFB (a “Business
        Combination”),
        in
        each case, unless (1) all or substantially all of the individuals and
        entities who were the beneficial owners, respectively, of the Voting Stock
        immediately prior to such Business Combination beneficially own, directly
        or
        indirectly, more than 50% of the total voting power represented by the voting
        securities entitled to vote generally in the election of directors of the
        corporation resulting from the Business Combination (including, without
        limitation, a corporation which as a result of the Business Combination owns
        MFB
        or all or substantially all of MFB’s assets either directly or through one or
        more subsidiaries) in substantially the same proportions as their ownership,
        immediately prior to the Business Combination of the Voting Stock of MFB,
        and
        (2) at least a majority of the members of the board of directors of the
        corporation resulting from the Business Combination were members of the
        Incumbent Board at the time of the execution of the initial agreement, or
        action
        of the Incumbent Board, providing for such Business Combination; or

       

      (D)  Approval
        by the stockholders of MFB of a plan of complete liquidation or dissolution
        of
        MFB.

       

      
        
          
          

        

        
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      The
        Board
        has final authority to construe and interpret the provisions of the foregoing
        Paragraphs (A), (B), (C) and (D) and to determine the exact date on which a
        Change in Control has been deemed to have occurred thereunder.

       

      (iv)  “Date
        of Termination”
shall
        mean (A) in the event of a discharge of the Executive for Cause, the date
        of the Notice of Termination, (B) in the event of a discharge of the Executive
        without Cause, the date the Executive receives a Notice of Termination, or
        any
        later date specified in such Notice of Termination, as the case may be, (C)
        in the event of a resignation by the Executive, the date specified in the
        written notice to the Employer, which date shall be no less than thirty
        (30) days from the date of such written notice (or such earlier date as the
        Employer may elect in its sole discretion), (D) in the event of the
        Executive’s death, the date of the Executive’s death, and (E) in the event
        of termination of the Executive’s employment by reason of Disability pursuant to
        Paragraph 7(a), the date the Executive receives written notice of such
        termination.

       

      (v)  “Disabled”
and
        “Disability”
shall
        mean that the Executive will be deemed to be disabled upon the earlier of
        (i) the end of a six (6) consecutive month period, or an aggregate period
        of nine (9) months out of any consecutive twelve (12) months, during
        which, by reason of physical or mental injury or disease, the Executive has
        been
        unable to perform substantially all of the Executive’s usual and customary
        duties under this Agreement or (ii) the date that a reputable physician
        selected by the Board, and as to whom the Executive has no reasonable objection,
        determines in writing that the Executive will, by reason of physical or mental
        injury or disease, be unable to perform substantially all of the Executive’s
        usual and customary duties under this Agreement for a period of at least
        six
        (6) consecutive months. If any question arises as to whether the Executive
        is Disabled, upon reasonable request therefore by the Board, the Executive
        shall
        submit to a reasonable medical examination for the purpose of determining
        the
        existence, nature and extent of any such disability. 

       

      (vi)  “Good
        Reason”
shall
        mean the occurrence, other than in connection with a discharge, of any of
        the
        following without the Executive’s consent: (A) the Executive is not
        re-elected or is removed from the positions with the Employer set forth in
        Paragraph 1(a), other than as a result of the Executive’s election or
        appointment to positions of equal or superior scope and responsibility; or
        (B) the Executive shall fail to be vested by the Employer with the power
        and authority of any of said positions, excluding for this purpose any isolated
        action not taken in bad faith and which is remedied by the Employer promptly
        after receipt of written notice thereof given by the Executive in accordance
        with Paragraph 14; or (C) any failure by the Employer to materially
        comply with any of the provisions of this Agreement, other than any isolated,
        insubstantial and inadvertent failure not occurring in bad faith and which
        is
        remedied by the Employer promptly after receipt of written notice thereof
        given
        by the Executive in accordance with Paragraph 14; or (D) the Employer
        requiring the Executive to be based at an office or location which is more
        than
        forty (40) miles from any location of MFB, the Bank or any of their
        subsidiaries as of the Effective Date or any renewal date of the extended
        term
        of this Agreement. In addition, any termination by the Executive during the
        ninety (90) day period beginning on the first anniversary of the date of a
        Change in Control shall be deemed to be for “Good Reason.”

       

      
        
          
          

        

        
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      (vii)  “Notice
        of Termination”
shall
        mean a written notice which (A) indicates the specific termination
        provision in this Agreement relied upon, (B) sets forth in reasonable
        detail the facts and circumstances claimed to provide a basis for termination
        of
        the Executive’s employment under the provision so indicated and (C) if the
        Date of Termination is to be other than the date of receipt of such notice
        or
        the date otherwise specified under this Agreement, specifies the termination
        date.

       

      8.  Obligations
        of the Employer Upon Termination.
        The
        following provisions describe the obligations of the Employer to the Executive
        under this Agreement upon termination of employment. However, except as
        explicitly provided in this Agreement, nothing in this Agreement shall limit
        or
        otherwise adversely affect any rights which the Executive may have under
        applicable law, under any other agreement with the Employer or any of its
        affiliates or subsidiaries, or under any compensation or benefit plan, program,
        policy or practice of the Employer or any of its affiliates or
        subsidiaries.

       

      (a)  Death,
        Disability, Discharge for Cause, or Resignation without Good
        Reason.
        In the
        event this Agreement terminates pursuant to Paragraph 7(a) by reason of the
        death or Disability of the Executive, pursuant to Paragraph 7(b) by reason
        of the discharge of the Executive by the Employer for Cause, or pursuant
        to
        Paragraph 7(c) by reason of the resignation of the Executive other than for
        Good Reason, the Employer shall pay to the Executive, or the Executive’s heirs
        or estate in the event of the Executive’s death, all Accrued Obligations in a
        lump sum in cash within thirty (30) days after the Date of Termination;
        provided, however, that any portion of the Accrued Obligations which consists
        of
        bonus, deferred compensation, incentive compensation, insurance benefits
        or
        other employee benefits shall be determined and paid in accordance with the
        terms of the relevant plan or policy as applicable to the
        Executive.

       

      (b)  Discharge
        without Cause or Resignation with Good Reason.
        In the
        event that this Agreement terminates pursuant to Paragraph 7(c) by reason
        of the discharge of the Executive by the Employer other than for Cause, death
        or
        Disability or by reason of the resignation of the Executive for Good
        Reason:

       

      (i)  The
        Employer shall pay all Accrued Obligations to the Executive in a lump sum
        in
        cash within thirty (30) days after the Date of Termination; provided,
        however, that any portion of the Accrued Obligations which consists of bonus,
        deferred compensation, incentive compensation, insurance benefits or other
        employee benefits shall be determined and paid in accordance with the terms
        of
        the relevant plan or policy as applicable to the Executive;

       

      (ii)  Within
        thirty (30) days after the Date of Termination, the Employer shall pay to
        the Executive a bonus for the year during which termination occurs, calculated
        as a prorata portion of the Executive’s prior year’s bonus amount (if any) based
        on the number of days elapsed during the year through the Date of Termination;
        

       

      (iii)  Severance
        payments equal to one hundred percent (100%) of the sum of (A) the
        Executive’s then-current annual base salary, plus (B) the average of the
        sum of the bonus amounts earned by the Executive with respect to the five
        (5) calendar

       

      
        
          
          

        

        
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      years
        (or
        such fewer number of years as Executive has been employed) immediately preceding
        the calendar year in which the Executive’s Date of Termination occurs, payable
        in substantially equal monthly installments for a period of twelve
        (12) months (the “Severance
        Period”)
        in
        accordance with the Employer’s regular payroll practices; and

       

      (iv)  Continuation
        for the Severance Period of the Executive’s right to maintain COBRA continuation
        coverage under the applicable plans at premium rates on the same “cost-sharing”
basis as the applicable premiums paid for such coverage by active employees
        as
        of the Date of Termination.

       

      (c)  Effect
        of Change in Control.
        In the
        event that a Change in Control occurs and this Agreement thereafter terminates
        pursuant to Paragraph 7(c) by reason of the discharge of the Executive by
        the Employer other than for Cause, death or Disability, or by reason of the
        resignation of the Executive for Good Reason:

       

      (i)  The
        Employer shall pay all Accrued Obligations to the Executive in a lump sum in
        cash within thirty (30) days after the Date of Termination; provided,
        however, that any portion of the Accrued Obligations which consists of bonus,
        deferred compensation, incentive compensation, insurance benefits or other
        employee benefits shall be determined and paid in accordance with the terms
        of
        the relevant plan or policy as applicable to the Executive;

       

      (ii)  Within
        thirty (30) days after the Date of Termination, the Employer shall pay to
        the Executive a bonus for the year during which termination occurs, calculated
        as a prorata portion of the Executive’s prior year’s bonus amount (if any) based
        on the number of days elapsed during the year through the Date of
        Termination;

       

      (iii)  The
        Employer shall pay the Executive a lump sum payment within thirty (30) days
        after such termination of employment in the amount of two (2) times the sum
        of
        the following:

       

      (A)  the
        amount of the Executive’s annual base salary determined as of the Date of
        Termination, or the date immediately preceding the date of the Change in
        Control, whichever is greater; plus

       

      (B)  the
        greater of (A) the Executive’s bonus amount, if any, for the calendar year
        immediately preceding that in which the Date of Termination occurs, or
        (B) the average of the sum of the bonus amounts earned by the Executive
        with respect to the three (3) calendar years (or such fewer number of years
        as Executive has been employed) immediately preceding the calendar year in
        which
        the Executive’s Date of Termination occurs, or if such sum would be greater,
        with respect to the three (3) calendar years immediately preceding the
        calendar year of the date of the Change in Control; plus

       

      
        
          
          

        

        
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      (C)  the
        sum
        of:

       

      (I)  the
        annual value of the contributions that would have been expected to be made
        or
        credited by the Employer to, and benefits expected to be accrued under, the
        qualified and non-qualified employee profit sharing, 401(k), pension and
        any
        other benefit plans maintained by the Employer to or for the benefit of the
        Executive; plus

       

      (II)  the
        annual value of the Other Benefits described in Paragraph 6(a) and (c)
        above.

       

      Notwithstanding
        the foregoing, if a Change in Control occurs and this Agreement is terminated
        prior to the Change in Control pursuant to Paragraph 7(c) by reason of the
        discharge of the Executive by the Employer other than for Cause, death or
        Disability or by reason of the resignation of the Executive for Good Reason,
        then the Executive shall be deemed for purposes of this Paragraph 8(c) to
        have so terminated pursuant to Paragraph 7(c) immediately following the
        date the Change in Control occurs if it is reasonably demonstrated by the
        Executive that such earlier termination was (i) at the request of a third
        party who had taken steps reasonably calculated to effect the Change in Control,
        or (ii) otherwise arose, or the circumstances that precipitated the
        termination otherwise arose, in connection with or in anticipation of the
        Change
        in Control.

       

      (d)  Effect
        on Other Amounts.
        The
        payments provided for in this Paragraph 8 shall be in addition to all other
        sums then payable and owing to the Executive, shall be subject to applicable
        federal and state income and other withholding taxes and shall be in full
        settlement and satisfaction of all of the Executive’s claims and demands. Upon
        such termination of this Agreement, the Employer shall have no rights or
        obligations under this Agreement, other than its obligations under this
        Paragraph 8, and the Executive shall have no rights and obligations under
        this Agreement, other than the Executive’s obligations under Paragraphs 11
        and 12 hereof (to the extent applicable); provided, however, termination
        of this
        Agreement shall not terminate the obligation of the Executive to pay to the
        Employer any amounts for which the Executive may be liable to the Employer
        under
        any provision of the Sarbanes-Oxley Act of 2002 (including, without limitation,
        Section 304 of such Act), or any rules and regulations promulgated
        thereunder, as amended from time to time. 

       

      (e)  Conditions.
        Any
        payments or benefits made or provided pursuant to this Paragraph 8 are
        subject to the Executive’s:

       

      (i)  compliance
        with the provisions of Paragraphs 11 and 12 hereof (to the extent
        applicable);

       

      (ii)  delivery
        to the Employer of an executed Release and Severance Agreement, which shall
        be
        substantially in the form attached hereto as Exhibit A,
        with
        such changes therein or additions thereto as needed under then applicable
        law to
        give effect to its intent and purpose; and

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      (iii)  delivery
        to the Employer of a resignation from all offices, directorships and fiduciary
        positions with the Employer, its affiliates and employee benefit
        plans.

       

      Notwithstanding
        the due date of any post-employment payments, any amounts due under this
        Paragraph 8 shall not be due until after the expiration of any revocation
        period applicable to the Release and Severance Agreement.

       

      9.  Certain
        Adjustments to Payments to be made by the Employer.

       

      (a)  Anything
        in this Agreement to the contrary notwithstanding, in the event it shall
        be
        determined that any payment or distribution by the Employer to or for the
        benefit of the Executive (whether paid or payable or distributed or
        distributable pursuant to the terms of this Agreement or otherwise, but
        determined without regard to any additional payments required under this
        Paragraph 9) (a “Payment”)
        would
        be subject to the excise tax imposed by Section 4999 of the Internal
        Revenue Code of 1986, as amended, (the “Code”)
        or if
        any interest or penalties are incurred by the Executive with respect to such
        excise tax (such excise tax, together with any such interest and penalties,
        being hereinafter collectively referred to as the “Excise
        Tax”),
        then
        the amount of the Payment payable to the Executive shall be reduced (a
“Reduction”)
        to the
        extent necessary so that no portion of such Payment is subject to the Excise
        Tax.

       

      (b)  All
        determinations required to be made under this Paragraph 9, and the
        assumptions to be utilized in arriving at such determination, shall be made
        by
        the independent public accountants then regularly retained by the Employer
        (the
“Accounting
        Firm”)
        in
        consultation with counsel acceptable to Executive, which shall promptly provide
        detailed supporting calculations both to the Employer and the Executive
        following any determination that a Reduction is necessary. In the event that
        the
        Accounting Firm is serving as accountant or auditor for the individual, entity
        or group effecting a Change in Control, the Employer shall appoint another
        nationally recognized accounting firm to make the determinations required
        hereunder (which accounting firm shall then be referred to as the Accounting
        Firm hereunder). All fees and expenses of the Accounting Firm and such counsel
        shall be borne solely by the Employer. Any good faith determination by the
        Accounting Firm shall be binding upon the Employer and the
        Executive.

       

      10.  Enforcement.
        In the
        event the Employer shall fail to pay any amounts due to the Executive under
        this
        Agreement as they come due, the Employer agrees to pay interest on such amounts
        at a rate equal to the prime rate plus four percent (4%) per annum (as from
        time
        to time published in The
        Wall Street Journal (Midwest Edition)).
        The
        Employer agrees that Executive and any successor shall be entitled to recover
        all costs of successfully enforcing any provision of this Agreement, including
        reasonable attorneys fees and costs of litigation, if Executive is the
        prevailing party.

       

      11.  Confidential
        Information.
        The
        Executive shall not at any time during or following the Executive’s employment
        with the Employer, directly or indirectly, disclose or use on the Executive’s
        behalf or another’s behalf, publish or communicate, except in the course of the
        Executive’s employment and in the pursuit of the business of the Employer or any
        of its

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      subsidiaries
        or affiliates, any proprietary information or data of the Employer or any
        of its
        subsidiaries or affiliates, which is not generally known to the public or
        which
        could not be recreated through public means and which the Employer may
        reasonably regard as confidential and proprietary. The Executive recognizes
        and
        acknowledges that all knowledge and information which the Executive has or
        may
        acquire in the course of the Executive’s employment, such as, but not limited to
        the business, developments, procedures, techniques, activities or services
        of
        the Employer or the business affairs and activities of any customer, prospective
        customer, individual firm or entity doing business with the Employer are
        its
        sole valuable property, and shall be held by Executive in confidence and
        in
        trust for their sole benefit. All records of every nature and description
        which
        come into the Executive’s possession, whether prepared by the Executive, or
        otherwise, shall remain the sole property of the Employer and upon termination
        of the Executive’s employment for any reason, said records shall be left with
        the Employer as part of its property.

       

      12.  Non-Competition;
        Non-Solicitation.
        The
        Executive acknowledges that the Employer and its affiliates and subsidiaries
        by
        nature of their respective businesses have a legitimate and protectable interest
        in their clients, customers and employees with whom they have established
        significant relationships as a result of a substantial investment of time
        and
        money, and but for the Executive’s employment hereunder, the Executive would not
        have had contact with such clients, customers and employees. The Executive
        agrees that during the period of the Executive’s employment with the Employer
        and for a period of one (1) year after termination of the Executive’s
        employment for any reason (the “Non-Compete
        Period”),
        the
        Executive will not (except in the Executive’s capacity as an employee of the
        Employer) directly or indirectly, for the Executive’s own account, or as an
        agent, employee, director, owner, partner, or consultant of any corporation,
        firm, partnership, joint venture, syndicate, sole proprietorship or other
        entity
        which has a place of business (whether as a principal, division, subsidiary,
        affiliate, related entity, or otherwise) located within the Market Area (as
        hereinafter defined):

       

      (a)  engage,
        directly or indirectly, in any business that provides banking products or
        services or that otherwise competes in any way with the Employer or any of
        its
        subsidiaries or affiliates;

       

      (b)  solicit
        or induce, or attempt to solicit or induce any client or customer of the
        Employer or any of its subsidiaries or affiliates not to do business with
        the
        Employer or any of its subsidiaries or affiliates; or

       

      (c)  solicit
        or induce, or attempt to solicit or induce, any employee or agent of the
        Employer or any of its subsidiaries or affiliates to terminate his or her
        relationship with the Employer or any of its subsidiaries or
        affiliates.

       

      For
        purposes of this Agreement, “Market
        Area”
shall
        be an area encompassed within a forty (40) mile radius surrounding any
        location of MFB, the Bank or any of their subsidiaries as of the Date of
        Termination of employment.

       

      The
        foregoing provisions shall not be deemed to prohibit (i) the Executive’s
        ownership, not to exceed five percent (5%) of the outstanding shares, of
        capital
        stock of any corporation whose securities are publicly traded on a national
        or
        regional securities exchange or in the over-

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

       

      the-counter
        market or (ii) the Executive serving as a director of other corporations
        and entities to the extent these directorships do not inhibit the performance
        of
        the Executive’s duties hereunder or conflict with the business of the
        Employer.

       

      13.  Remedies.
        

       

      (a)  The
        Executive acknowledges that the restraints and agreements herein provided
        are
        fair and reasonable, that enforcement of the provisions of Paragraphs 11
        and 12 will not cause the Executive undue hardship and that said provisions
        are
        reasonably necessary and commensurate with the need to protect the Employer
        and
        its legitimate and proprietary business interests and property from irreparable
        harm. The Executive acknowledges and agrees that (a) a breach of any of the
        covenants and provisions contained in Paragraph 11 or 12 above, will result
        in irreparable harm to the business of the Employer, (b) a remedy at law in
        the form of monetary damages for any breach by the Executive of any of the
        covenants and provisions contained in Paragraphs 11 and 12 is inadequate,
        (c) in addition to any remedy at law or equity for such breach, the
        Employer shall be entitled to institute and maintain appropriate proceedings
        in
        equity, including a suit for injunction to enforce the specific performance
        by
        Executive of the obligations hereunder and to enjoin Executive from engaging
        in
        any activity in violation hereof and (d) the covenants on the Executive’s
        part contained in Paragraphs 11 and 12, shall be construed as agreements
        independent of any other provisions in this Agreement, and the existence
        of any
        claim, setoff or cause of action by the Executive against the Employer, whether
        predicated on this Agreement or otherwise, shall not constitute a defense
        or bar
        to the specific enforcement by the Employer of said covenants. In the event
        of a
        breach or a violation by the Executive of any of the covenants and provisions
        of
        this Agreement, the running of the Non-Compete Period (but not of Executive’s
        obligation thereunder) shall be tolled during the period of the continuance
        of
        any actual breach or violation.

       

      (b)  The
        parties hereto agree that the covenants set forth in Paragraphs 11 and 12
        are reasonable with respect to their duration, geographical area and scope.
        If
        the final judgment of a court of competent jurisdiction declares that any
        term
        or provision of Paragraph 11 or 12 is invalid or unenforceable, the parties
        agree that the court making the determination of invalidity or unenforceability
        shall have the power to reduce the scope, duration, or area of the term or
        provision, to delete specific words or phrases, or to replace any invalid
        or
        unenforceable term or provision with a term or provision that is valid and
        enforceable and that comes closest to expressing the intention of the invalid
        or
        unenforceable term or provision, and this Agreement shall be enforceable
        as so
        modified after the expiration of the time within which the judgment may be
        appealed.

       

      14.  Notices.
        Any
        notice or other communication required or permitted to be given hereunder
        shall
        be determined to have been duly given to any party: (a) upon delivery to
        the address of such party specified below if delivered personally or by courier;
        (b) upon dispatch if transmitted by telecopy or other means of facsimile,
        provided a copy thereof is also sent by regular mail or courier; (c) within
        forty-eight (48) hours after deposit thereof in the U.S. mail, postage
        prepaid, for delivery as certified mail, return receipt requested; or
        (d) within twenty-four (24) hours after deposit thereof with a
        reputable overnight courier (charges prepaid), addressed, in any case to
        the
        party at the following address(es) or telecopy numbers:

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

      (a)  If
        to
        Executive, at the address set forth on the signature
        page hereof.

       

      (b)  If
        to the
        Employer:

       

      Mutual
        Federal Bancorp, Inc.

      Mutual
        Federal Savings and Loan

      Association
        of Chicago

      2212
        W.
        Cermak Road

      Chicago,
        IL 60608

      Attn:
        Chief Executive Officer

      Telecopy
        No.: (773) 847-7752

       

      with
        a
        copy to:

       

      Vedder,
        Price, Kaufman & Kammholz, P.C.

      222
        North
        LaSalle Street

      Chicago,
        Illinois 60601-1003

      Attn:
        Daniel C. McKay II

      Telecopy
        No.: (312) 609-5005

       

      or
        to
        such other address(es) or telecopy number(s) as any party may designate by
        written notice in the aforesaid manner.

       

      15.  Required
        Regulatory Provisions.
        

       

      (a)  If
        the
        Executive is suspended from office and/or temporarily prohibited from
        participating in the conduct of the Bank’s affairs by a notice served under
        Section 8(e)(3) or 8(g)(1) of the Federal Deposit Insurance Act, (12 U.S.C.
§1818(e)(3) or (g)(1)), the Bank’s obligations under this contract shall be
        suspended as of the date of service, unless stayed by appropriate proceedings.
        If the charges in the notice are dismissed, the Bank may in its discretion
        (i) pay the Executive all or part of the compensation withheld while their
        contract obligations were suspended and (ii) reinstate (in whole or in
        part) any of the obligations which were suspended.

       

      (b)  If
        the
        Executive is removed and/or permanently prohibited from participating in
        the
        conduct of the Bank’s affairs by an order issued under Section 8(e)(4) or
        8(g)(1) of the Federal Deposit Insurance Act, (12 U.S.C. §1818(e)(4) or (g)(1))
        all obligations of the Bank under this contract shall terminate as of the
        effective date of the order, but vested rights of the contracting parties
        shall
        not be affected.

       

      (c)  If
        the
        Bank is in default (as defined in Section 3(x)(1) (12 U.S.C. §1813(x)(1))
        of the Federal Deposit Insurance Act) all obligations of the Bank under this
        contract shall terminate as of the date of default, but this paragraph shall
        not
        affect any vested rights of the contracting parties.

       

      (d)  All
        obligations of the Bank under this contract shall be terminated, except to
        the
        extent determined that continuation of the contract is necessary for the
        continued operation of the institution, (i) by the Director of the Office
        of Thrift Supervision (“OTS”), at the time the

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

       

      Federal
        Deposit Insurance Corporation (“FDIC”) enters into an agreement to provide
        assistance to or on behalf of the Bank under the authority contained in
        Section 13(c) (12 U.S.C. §1823(c)) of the Federal Deposit Insurance Act; or
        (ii) by the Director of the OTS at the time the OTS approves a supervisory
        merger to resolve problems related to the operations of the Bank or when
        the
        Bank is determined by the OTS to be in an unsafe or unsound condition. Any
        rights of the parties that have already vested, however, shall not be affected
        by such action.

       

      (e)  Any
        payments made to the Executive pursuant to this Agreement, or otherwise,
        are
        subject to and conditioned upon compliance with 12 U.S.C. §1828(k) and FDIC
        Regulation 12 CFR Part 359, regarding Golden Parachute and Indemnification
        Payments.

       

      16.  Full
        Settlement; No Mitigation.
        The
        Employer’s obligation to make the payments and provide the benefits provided for
        in this Agreement and otherwise to perform its obligations hereunder shall
        not
        be affected by any set-off, counterclaim, recoupment, defense or other claim,
        right or action which the Employer may have against the Executive or others.
        In
        no event shall the Executive be obligated to seek other employment or take
        any
        other action by way of mitigation of the amounts payable to the Executive
        under
        any of the provisions of this Agreement, and such amounts shall not be reduced
        whether or not the Executive obtains other employment.

       

      17.  Payment
        in the Event of Death.
        In the
        event payment is due and owing by the Employer to the Executive under this
        Agreement upon the death of the Executive, payment shall be made to such
        beneficiary as the Executive may designate in writing, or failing such
        designation, then the executor of the Executive’s estate, in full settlement and
        satisfaction of all claims and demands on behalf of the Executive, shall
        be
        entitled to receive all amounts owing to the Executive at the time of the
        Executive’s death under this Agreement. Such payments shall be in addition to
        any other death benefits of the Employer and in full settlement and satisfaction
        of all severance benefit payments provided for in this Agreement.

       

      18.  Entire
        Understanding.
        This
        Agreement constitutes the entire understanding between the parties relating
        to
        Executive’s employment hereunder and supersedes and cancels all prior written
        and oral understandings and agreements with respect to such matters and except
        for the terms and provisions of any employee benefit or other compensation
        plans
        (or any agreements or awards thereunder), referred to in this Agreement,
        or as
        otherwise expressly contemplated by this Agreement.

       

      19.  Binding
        Effect.
        This
        Agreement shall be binding upon and inure to the benefit of the heirs and
        representatives of the Executive and the successors and assigns of the Employer.
        The Employer shall require any successor (whether direct or indirect, by
        purchase, merger, reorganization, consolidation, acquisition of property
        or
        stock, liquidation, or otherwise) to all or a substantial portion of its
        assets,
        by agreement in form and substance reasonably satisfactory to the Executive,
        expressly to assume and agree to perform this Agreement in the same manner
        and
        to the same extent that the Employer would be required to perform this Agreement
        if no such succession had taken place. Regardless of whether such an agreement
        is executed, this Agreement shall be binding upon any successor of the Employer
        in accordance with the operation of law, and such successor shall be deemed
        the
“Employer” for purposes of this Agreement.

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

      20.  Tax
        Withholding.
        The
        Employer shall provide for the withholding of any taxes required to be withheld
        by federal, state, or local law with respect to any payment in cash, shares
        of
        stock and/or other property made by or on behalf of the Employer to or for
        the
        benefit of the Executive under this Agreement or otherwise. The Employer
        may, at
        its option: (a) withhold such taxes from any cash payments owing from the
        Employer to the Executive; (b) require the Executive to pay to the Employer
        in cash such amount as may be required to satisfy such withholding obligations;
        and/or (c) make other satisfactory arrangements with the Executive to
        satisfy such withholding obligations.

       

      21.  Guaranty.
        MFB
        hereby guarantees the payment of all compensation, payments and/or benefits
        due
        to Employee or his beneficiaries under this Agreement or any of the plans,
        programs or arrangements referred to herein, if, as and when such compensation,
        payments or benefits are not timely paid by the Bank.

       

      22.  No
        Assignment.
        Except
        as otherwise expressly provided herein, this Agreement is not assignable
        by any
        party, except that MFB may assign its rights and obligations under this
        Agreement to any affiliate or subsidiary, and no payment to be made hereunder
        shall be subject to anticipation, alienation, sale, transfer, assignment,
        pledge, encumbrance or other charge.

       

      23.  Execution
        in Counterparts.
        This
        Agreement may be executed by the parties hereto in two (2) or more
        counterparts, each of which shall be deemed to be an original, but all such
        counterparts shall constitute one and the same instrument, and all signatures
        need not appear on any one counterpart.

       

      24.  Jurisdiction
        and Governing Law.
        Except
        as provided in Paragraph 10, jurisdiction over disputes with regard to this
        Agreement shall be exclusively in courts located in the State of Illinois,
        and
        this Agreement shall be construed, interpreted and enforced in accordance
        with
        and governed by applicable federal law, and the laws of the State of Illinois
        to
        the extent not preempted by applicable federal law without regard to the
        choice
        of laws provisions of the State of Illinois.

       

      25.  Severability.
        If any
        provision of this Agreement shall be adjudged by any court of competent
        jurisdiction to be invalid or unenforceable for any reason, such judgment
        shall
        not affect, impair or invalidate the remainder of this Agreement. Furthermore,
        if the scope of any restriction or requirement contained in this Agreement
        is
        too broad to permit enforcement of such restriction or requirement to its
        full
        extent, then such restriction or requirement shall be enforced to the maximum
        extent permitted by law, and the Executive consents and agrees that any court
        of
        competent jurisdiction may so modify such scope in any proceeding brought
        to
        enforce such restriction or requirement.

       

      26.  Survival.
        Provisions of this Agreement shall survive the termination of the Executive’s
        employment with the Employer to the extent provided herein.

       

      27.  Waiver.
        The
        waiver of any party hereto of a breach of any provision of this Agreement
        by any
        other party shall not operate or be construed as a waiver of any subsequent
        breach.

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

       

      28.  Amendment.
        No
        change, alteration or modification hereof may be made except in a writing,
        signed by each of the parties hereto.

       

      29.  Construction.
        The
        language used in this Agreement will be deemed to be the language chosen
        by
        Employer and the Executive to express their mutual intent and no rule of
        strict
        construction shall be applied against any person. Wherever from the context
        it
        appears appropriate, each term stated in either the singular or plural shall
        include the singular and the plural, and the pronouns stated in either the
        masculine, the feminine or the neuter gender shall include the masculine,
        feminine or neuter. The headings of the Paragraphs of this Agreement are
        for
        reference purposes only and do not define or limit, and shall not be used
        to
        interpret or construe the contents of this Agreement.

       

      30.  No
        Duplication.
        Notwithstanding anything herein to the contrary, to the extent that any
        compensation or benefits are paid to or received by the Executive from the
        Bank,
        MFB or any other subsidiary or affiliate of MFB or the Bank, such compensation
        or benefits shall be subtracted from any amounts simultaneously due hereunder
        from the Bank and/or MFB, as the case may be.

       

      [SIGNATURE
        PAGE FOLLOWS]

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement
        as of the day and year first above written.

       

      
        
          	
                	
                  MUTUAL FEDERAL SAVINGS AND

                  LOAN ASSOCIATION OF
                    CHICAGO

                   

                

          
            
              	
                       
                        

                    	 By:	 /s/
                      Stephen M. Oksas

            

          

          
            
              	 	Title:	Chief
                      Executive Officer

              
                 

                
                  	
                        	
                          MUTUAL FEDERAL BANCORP,
                            INC.

                           

                        

                  
                    
                      	
                               
                                

                            	 By:	 /s/
                              Stephen M. Oksas

                    

                  

                  
                    
                      	 	Title:	Chief
                              Executive Officer

                    

                  

                

                
                   

                

              

            

          

        

      

      
        
          
            
              
                
                  	
                           

                        	
                          EXECUTIVE 

                           

                          /s/
                            John L. Garlanger

                        
	
                           Address:___________________________________

                          __________________________________________

                          __________________________________________

                          Telecopy
                            No.:_______________________________

                        	
                          Name:  John
                            L.
                            Garlanger 

                        

                

              

            

          

        

      

       

      
 

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

      Exhibit A
        to Employment Agreement

       

      RELEASE
        AND SEVERANCE AGREEMENT

       

      THIS
        RELEASE AND SEVERANCE AGREEMENT is made and entered into this ____ day of
        _________, _____ by and between Mutual Federal Bancorp, Inc. and its
        subsidiaries and affiliates (including, without limitation, Mutual Federal
        Savings and Loan Association of Chicago) (collectively, the “Company”)
        and
        John L. Garlanger (hereinafter “EXECUTIVE”).

       

      EXECUTIVE’S
        employment with the Company terminated on __________, ______; and EXECUTIVE
        has
        voluntarily agreed to the terms of this RELEASE AND SEVERANCE AGREEMENT in
        exchange for severance benefits under the Employment Agreement (“Employment
        Agreement”)
        to
        which EXECUTIVE otherwise would not be entitled.

       

      NOW
        THEREFORE, in consideration for severance benefits provided under the Employment
        Agreement, EXECUTIVE on behalf of EXECUTIVE and EXECUTIVE’S spouse, heirs,
        executors, administrators, children, and assigns does hereby fully release
        and
        discharge the company, its officers, directors, employees, agents, subsidiaries
        and divisions, benefit plans and their administrators, fiduciaries and insurers,
        successors, and assigns from any and all claims or demands for wages, back
        pay,
        front pay, attorneys’ fees and other sums of money, insurance, benefits,
        contracts, controversies, agreements, promises, damages, costs, actions or
        causes of action and liabilities of any kind or character whatsoever, whether
        known or unknown, from the beginning of time to the date of these presents,
        relating to EXECUTIVE’S employment or termination of employment from the
        Company, including but not limited to any claims, actions or causes of action
        arising under the statutory, common law or other rules, orders or regulations
        of
        the United States or any State or political subdivision thereof including
        the
        Age Discrimination in Employment Act and the Older Workers Benefit Protection
        Act.

       

      EXECUTIVE
        acknowledges that EXECUTIVE’S obligations pursuant to Paragraphs 11 and 12
        of the Employment Agreement relating to the use or disclosure of confidential
        information and non-solicitation of customers and employees shall continue
        to
        apply to EXECUTIVE.

       

      This
        Release and Settlement Agreement supersedes any and all other agreements
        between
        EXECUTIVE and the Company except agreements relating to proprietary or
        confidential information belonging to the Company, and any other agreements,
        promises or representations relating to severance pay or other terms and
        conditions of employment are null and void.

       

      This
        release does not affect EXECUTIVE’S right to any benefits to which EXECUTIVE may
        be entitled under any employee benefit plan, program or arrangement sponsored
        or
        provided by the Company, including but not limited to the Employment Agreement
        and the plans, programs and arrangements referred to therein.

       

      EXECUTIVE
        and the Company acknowledge that it is their mutual intent that the Age
        Discrimination in Employment Act waiver contained herein fully comply with
        the
        Older Workers Benefit Protection Act. Accordingly, EXECUTIVE acknowledges
        and
        agrees that:

       

      
        
          
          

        

        
          A-1

          
            

          

        

        
          
          

        

      

       

      (a) The
        severance benefits exceed the nature and scope of that to which EXECUTIVE
        would
        otherwise have been legally entitled to receive;

       

      (b) Execution
        of this Agreement and the Age Discrimination in Employment Act waiver herein
        is
        EXECUTIVE’S knowing and voluntary act;

       

      (c) EXECUTIVE
        has been advised by the Company to consult with EXECUTIVE’S personal attorney
        regarding the terms of this Agreement, including the aforementioned
        waiver;

       

      (d) EXECUTIVE
        has had at least twenty-one (21) calendar days within which to consider
        this Agreement;

       

      (e) EXECUTIVE
        has the right to revoke this Agreement in full within seven (7) calendar
        days of execution and that none of the terms and provisions of this Agreement
        shall become effective or be enforceable until such revocation period has
        expired;

       

      (f) EXECUTIVE
        has read and fully understands the terms of this Agreement; and

       

      (g) Nothing
        contained in this Agreement purports to release any of EXECUTIVE’S rights or
        claims under the Age Discrimination in Employment Act that may arise after
        the
        date of execution.

       

      IN
        WITNESS WHEREOF, the parties have executed this Agreement on the date indicated
        above.

       

      
        	
                 MUTUAL
                  FEDERAL BANCORP, INC.,

                   
                  for itself and its Subsidiaries and

                   
                  Affiliates    

              	
                EXECUTIVE

              
	 	 
	 By:________________________________________   	___________________________________________ 
	 Its:________________________________________	
                John
                  L. Garlanger

              

         

      

      
        
          
          

        

        
          A-2ESOP Loan Agreement dated as of April 4, 2006 between Mutual Federal Bancorp,
      Inc. and First Bankers Trust Services, Inc., as trustee of the Mutual Federal
      Bancorp, Inc. Employee Stock Ownership Trust

    EXHIBIT 10.4

     

     

    ESOP
      LOAN
      AGREEMENT

     

    Dated
      as
      of April 4, 2006

     

    Between

     

    MUTUAL
      FEDERAL BANCORP, INC. 

     

    EMPLOYEE
      STOCK OWNERSHIP TRUST

     

    and

     

    MUTUAL
      FEDERAL BANCORP, INC. 

    

    
      
        
        

      

      
         

        
          

        

      

      
        
        

      

    

     

    ESOP
      LOAN AGREEMENT

     

    THIS
      ESOP
      LOAN AGREEMENT (the “Agreement”), dated as of April 4, 2006, is made and entered
      into by and between First Bankers Trust Services, Inc., an Illinois corporation,
      not in its individual or corporate capacity, but solely as a directed trustee
      (the “Trustee”) of the Mutual Federal Bancorp, Inc. Employee Stock Ownership
      Trust (the “Trust”), which implements and forms a part of the Mutual Federal
      Bancorp, Inc. Employee Stock Ownership Plan (the “Plan”), and Mutual Federal
      Bancorp, Inc., a Federal corporation (the “Company”).

     

    W I T N E S S E T H:

     

    WHEREAS,
      the
      Company has duly established the Plan and the Trust, and has duly appointed
      the
      Trustee as a directed trustee under the Trust;

     

    WHEREAS,
      the
      Company anticipates selling newly issued shares of its common stock in an
      initial public offering (the “IPO”);

     

    WHEREAS,
      pursuant
      to written directions from the Committee under, and as defined in, the Plan,
      to
      the Trustee, dated April 4, 2006, (the “Committee Directions”), the Trust has
      agreed to purchase 87,285 shares of common stock of the Company (the “Company
      Stock”) with funds that will be lent to the Trust by the Company;

     

    
      WHEREAS,
        pursuant to the terms and conditions of this Agreement, the Trust desires
        to
        borrow from the Company, and the Company desires to lend to the Trust, the
        amount of Eight Hundred Seventy-Two Thousand Eight Hundred Fifty and No/100
        U.S.
        Dollars ($872,850.00) (the “ESOP Loan Amount”) on the terms and conditions
        hereof; and

       

    

    WHEREAS,
      the
      parties hereto intend that the ESOP Loan (as defined herein) shall constitute
      an
“exempt loan” within the meaning of section 4975(d)(3) of the Code, Treasury
      Regulation section 54.4975-7(b), section 408(b)(3) of ERISA, and Department
      of
      Labor Regulation section 2550.408b-3 (collectively, the “Exempt Loan Rules”) and
      an “Exempt Loan” within the meaning of Section 2.22 of the Plan (or the
      applicable provision of an amended version of the Plan or of a successor plan).
      

     

    NOW,
      THEREFORE,
      in
      consideration of the premises and the mutual covenants and agreements herein
      contained and other good and valuable consideration (the receipt, adequacy
      and
      sufficiency of which each party hereto respectively acknowledges by its
      execution hereof), the parties hereto intending legally to be bound do hereby
      agree as follows:

     

    ARTICLE I:  
        DEFINITIONS
      AND ACCOUNTING TERMS

     

    SECTION
      1.1   Definitions.
      In this
      Agreement, unless a clear contrary intention appears, capitalized terms used
      herein without being defined shall have the meanings ascribed to them in the
      Plan.

     

    
      
        
        

      

      
         

        
          

        

      

      
        
        

      

    

     

    SECTION
      1.2   Computation
      of Time Periods.
      In this
      Agreement, in the computation of periods of time from a specified date to a
      later specified date, the word “from” means “from and including” and the words
“to” and “until” each means “to but excluding.”

     

    SECTION
      1.3   Accounting
      Terms.
      For
      purposes of this Agreement, all accounting terms not defined herein shall be
      construed in accordance with generally accepted accounting principles consistent
      with those applied in the preparation of the Company’s financial
      statements.

     

    SECTION
      1.4   General
      Interpretation.
      This
      Agreement shall be construed and interpreted so as to maintain the status of
      the
      Plan as a qualified employee stock ownership plan under sections 401(a) and
      4975(e)(7) of the Code, the Trust as exempt from taxation under section 501(a)
      of the Code and the ESOP Loan as an “exempt loan” under the Exempt Loan Rules
      and under the Plan (collectively, the “Required Legal Status”) and, without
      limiting the foregoing, herein:

     

    (a)  the
      singular includes the plural and vice versa;

     

    (b)  “or”
is
      not necessarily exclusive and “and” is not necessarily inclusive;

     

    (c)  reference
      to any person includes such person’s successors and permitted assigns and to a
      person in a specified capacity excludes such person in any other
      capacity;

     

    (d)  reference
      to any gender includes each other gender;

     

    (e)  reference
      to any agreement (including this Agreement), document or instrument means such
      agreement, document or instrument as amended or modified and in effect from
      time
      to time in accordance with the terms thereof and, if applicable, the terms
      hereof and, in the case of a promissory note, includes renewals and extensions
      thereof and replacements and substitutions therefor;

     

    (f)  reference
      to any law means such law as amended, modified, codified, superseded, or
      reenacted, in whole or in part, and in effect from time to time, and regulations
      promulgated thereunder; and

     

    (g)  “hereof”,
      “hereto” and words of similar import shall be deemed references to this
      Agreement as a whole and not to any particular Article or Section
      hereof.

     

    ARTICLE II:  
        ESOP
      LOAN; NOTE; PAYMENTS

     

    SECTION
      2.1   ESOP
      Loan.
      Subject
      to the completion of the IPO, the Company will lend to the Trust, and the Trust
      will borrow from the Company, under this Agreement, the ESOP Loan Amount (the
      “ESOP Loan”). Repayment of the ESOP Loan shall be made in accordance with
      Sections 2.3 and 2.5 and may be made in accordance with Section 2.4.
      Whenever a payment is due on a Saturday, Sunday or legal holiday, such payment
      shall be made on the preceding business day.

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    SECTION
      2.2   Use
      of ESOP Loan Proceeds.
      The
      Trust will use the proceeds of the ESOP Loan only to acquire the shares of
      Company Stock in accordance with the Committee Directions. 

     

    SECTION
      2.3   Principal
      Payments.
      The
      ESOP Loan will be evidenced by a promissory note issued by the Trust (the “ESOP
      Note”), appropriately completed and dated and made payable to the order of the
      Company in the original principal amount of the ESOP Loan Amount. Principal
      payments under the ESOP Loan shall be made in equal quarterly installments
      of
      $10,910.63 beginning June 30, 2006 and at the end of each calendar year quarter
      thereafter (or corresponding to the date when the Company makes contributions
      to
      the Trust for a Plan Year within the permitted timeframes under section 404
      of
      the Code); provided, however, that the final principal loan payment shall be
      due
      no later than March 31, 2026. Payments shall be applied, first, to accrued
      and
      unpaid interest at the rate described in Section 2.5 below and, then,
      applied to unpaid principal hereof. Interest hereon shall be payable as
      calculated in Section 2.5 hereof.

     

    SECTION
      2.4   Prepayments.
      The
      Trust may at any time, and from time to time, prepay the ESOP Loan to the
      Company; provided,
      however,
      that no
      such prepayment shall be permitted or required if such prepayment would
      adversely affect the Required Legal Status of the ESOP Loan.  Any
      prepayments shall be applied to the outstanding balance of the ESOP Loan, first,
      to accrued but unpaid interest and, second, to outstanding principal in reverse
      order of maturity. 

     

    SECTION
      2.5   Interest.
      The
      Trust will pay accrued interest to the Company on the outstanding unpaid
      principal amount of the ESOP Loan on each quarterly principal payment date.
      Interest on the ESOP Loan will accrue daily (based on a 365 day year period
      with
      the actual number of days elapsed) at rate of 7.00% per annum. 

     

    ARTICLE III:  
        SECURITY

     

    SECTION
      3.1   Security.
      Payment
      of the ESOP Note and performance by the Trust of its obligations under this
      Agreement and the ESOP Note will be secured by a pledge of, and the grant of
      a
      security interest in, the shares of Company Stock acquired under the Committee
      Directions by the Trust to, and in favor of, the Company under that certain
      Stock Pledge Agreement by and between the Company and the Trust, of even date
      herewith (the “Stock Pledge Agreement”).

     

    SECTION
      3.2   Release
      of Company Stock.
      Notwithstanding any provision of this Agreement or the Stock Pledge Agreement
      to
      the contrary contained or implied, as of the last day of each Plan Year (the
      “Release Date”), the Company will release from the pledge and security interest
      under the Stock Pledge Agreement such shares of Company Stock as must be
      allocated to Participants pursuant to the applicable provisions of the Plan
      and
      as required under the Exempt Loan Rules.

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    ARTICLE IV:  
        REPRESENTATIONS,
      WARRANTIES AND COVENANTS

     

    SECTION
      4.1   Representations
      and Warranties of the Trust.
      To
      induce the Company to enter this Agreement and to make the ESOP Loan, the Trust
      represents and warrants to the Company as follows:

     

    (a)  the
      execution, delivery and performance of this Agreement, the ESOP Note and the
      Stock Pledge Agreement are within the Trustee’s powers and have been duly
      authorized by all necessary action by, or on behalf of, the Trust;

     

    (b)  the
      ESOP
      Loan satisfies all applicable requirements of the Internal Revenue Service
      (“IRS”) and United States Department of Labor relating to loans by employers to
      employee stock ownership plans and does not constitute a prohibited transaction
      under section 4975(c) of the Code or section 406(d) of ERISA which is not exempt
      under section 4975(d) of the Code or section 408(b)(3) of ERISA,
      respectively;

     

    (c)  the
      Trust
      does not need to obtain any authorization, approval or other action by any
      governmental authority or regulatory body, and no notice by the Trust to, or
      filing by the Trust with, any governmental authority or regulatory body is
      required for the due execution, delivery and performance by the Trust of this
      Agreement, the ESOP Note or the Stock Pledge Agreement;

     

    (d)  the
      Trustee has, on behalf of the Trust, duly executed and delivered this Agreement,
      the ESOP Note and the Stock Pledge Agreement. This Agreement, the ESOP Note
      and
      the Stock Pledge Agreement are the legal, valid and binding obligations of
      the
      Trust, enforceable against the Trust in accordance with their respective terms,
      except as the same may be limited by bankruptcy, insolvency, moratorium,
      reorganization or other laws affecting the enforcement of creditors’ rights
      generally now or hereafter in effect, and subject to the availability of
      equitable remedies. The Trustee’s execution, delivery and performance of this
      Agreement, the ESOP Note and the Stock Pledge Agreement, as well as the
      consummation of the transactions contemplated thereunder, will not result in
      a
      breach or violation of any of the provisions of any agreement or instrument
      to
      which the Trust is a party or by which the Trust or its assets are bound;
      and

     

    (e)  the
      full
      proceeds of the ESOP Loan will be used only to fund the purchase by the Trust
      of
      shares of the Company Stock in accordance with the Committee Directions as
      soon
      as practicable after the date hereof. 

     

    SECTION
      4.2   Representations
      and Warranties of the Company.
      The
      Company represents and warrants or covenants (as the case may be) to the Trust
      as follows:

     

    (a)  Corporate
      Organization, Structure and Existence.
      The
      Company is a corporation duly organized, validly existing and in good standing
      under the laws of the United States of America, has all requisite corporate
      power and authority to carry on its business, and is duly qualified as a foreign
      corporation and is in good standing in all other jurisdictions in which such
      qualification is required, except where its failure so to qualify would not
      have
      a material adverse effect on the Company.

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    (b)  Status
      of the Plan and Trust.
      The
      Plan and Trust have been validly authorized and established by the Company
      and
      the Company has validly appointed the Committee members under the Plan and
      the
      Trustee as a directed trustee under the Trust in accordance with due
      authorization. The Plan and Trust constitute a legal and valid employee stock
      ownership plan within the meaning of section 4975(e)(7) of the Code, the
      Plan is qualified under section 401(a) of the Code and Trust is exempt from
      taxation under section 501(a) of the Code. The Company will file, within
      the remedial amendment period prescribed under section 401(b) of the Code,
      with the IRS for a determination letter that the Plan is qualified under
      section 401(a) of the Code, is an employee stock ownership plan within the
      meaning of section 4975(e)(7) of the Code and that the Trust is exempt from
      taxation under section 501(a) of the Code and, in the event that the IRS imposes
      conditions for the issuance of such a letter, the Company will comply with
      all
      such conditions including, without limitation, amending or otherwise modifying
      the Plan and Trust.

     

    (c)  Continued
      Maintenance of Plan and Trust.
      The
      Company will continue to maintain the existence or the Plan and Trust while
      the
      ESOP Loan is outstanding, subject to the right of the Company to amend or
      terminate the Plan and Trust in accordance with the terms thereof and applicable
      law.

     

    (d)  No
      Conflict, Breach, Etc.
      The
      consummation of the transactions contemplated by this Agreement and the
      fulfillment of the terms and conditions of this Agreement, will not conflict
      with, or result in a breach of, any of the terms and provisions of the Company’s
      Articles of Incorporation or By-Laws in effect on the date hereof or of any
      provision of any indenture, material agreement or other instrument to which
      the
      Company is a party or by which any of its assets may be bound, or of any
      provision of any Federal or state court judgment, writ, decree, order, statute,
      rule or governmental regulation applicable to the Company. The execution,
      delivery and performance of this Agreement will not result in any such conflict
      or breach or constitute a default under any such terms and
      provisions.

     

    (e)  Administration
      of  Plan and Trust.
      The
      Company will comply in all material respects with the terms of the Plan, the
      Trust and the Code and ERISA (and any other applicable law) with respect to
      the
      manner in which its administers the Plan and Trust.

     

    (f)  Contributions
      to the Plan and Trust.
      The
      Company (or Participating Employers under, and as defined in, the Plan) will
      make contributions to the Trust in amounts which, together with any permissible
      dividends paid by the Company to the Trust on the shares of Company Stock,
      are
      sufficient to enable the Trust to pay all accrued interest and scheduled
      principal on the ESOP Note, as and when such obligations become
      due.

     

    (g)  No
      Action, Suit or Proceeding.
      There
      is no action, suit or proceeding pending against, or threatened against or
      affecting, the Company before any governmental or nongovernmental body which
      relates to the transactions contemplated by this Agreement.

     

    (h)  No
      Authorization or Approval.
      No
      authorization or approval or other action by, and no notice to or filing with,
      any governmental authority or regulatory body is required for the due execution,
      delivery and performance by the Company of the Agreement.

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

    (i)  Enforceability.
      This
      Agreement, the Stock Pledge Agreement and the Plan and Trust documents are
      the
      legal, valid and binding obligations of the Company enforceable in accordance
      with their terms, except as the same may be limited by bankruptcy, insolvency,
      moratorium, reorganization or other laws affecting the enforcement of creditors’
rights generally now or hereafter in effect, and subject to the availability
      of
      equitable remedies.

     

    ARTICLE V:  
        CONDITIONS
      PRECEDENT

     

    SECTION
      5.1   Documentation
      Conditions Precedent.
      The
      obligation of the Company to make the ESOP Loan is expressly conditioned on
      the
      conditions precedent contained in Section 5.2, and that the Company shall,
      as another condition precedent, have received duly executed and dated original
      copies of each of the following documents (in form and substance satisfactory
      to
      the Company in its sole discretion):

     

    (a)  this
      Agreement;

     

    (b)  the
      ESOP
      Note; and 

     

    (c)  the
      Stock
      Pledge Agreement. 

     

    SECTION
      5.2   Other
      Conditions Precedent.
      In
      addition to the conditions precedent contained in Section 5.1, the obligation
      of
      the Company to make the ESOP Loan is subject to the following conditions
      precedent:

     

    (a)  the
      representations and warranties made by the Trust herein shall be true and
      correct in all material respects; 

     

    (b)  no
      Event
      of Default shall have occurred and be continuing; and

     

    (c)  the
      successful completion of the IPO on such terms and conditions deemed
      satisfactory to the Company in its sole discretion.

     

    ARTICLE VI:  
        EVENTS
      OF DEFAULT AND THEIR EFFECT

     

    SECTION
      6.1   Events
      of Default; Effect.
      If
      default (and continuance thereof for ten business days) in the payment when
      due
      of any principal of, or interest on, the ESOP Note occurs (an “Event of
      Default”), unless the effect thereof as an Event of Default has been waived in
      writing by the Company or the Company has failed to comply with Section 4.2(f),
      then the Company may declare the ESOP Note to be due and payable, whereupon
      the
      ESOP Note shall become immediately due and payable, without presentment, demand,
      protest or further notice of any kind to the Trust or other action by the
      Company of any kind whatsoever, all of which actions the Trust hereby expressly
      waives to the maximum extent permitted by law.  The Company shall promptly
      advise the Trust of any such declaration, but failure to do so or delay in
      doing
      so shall not impair the effect of such declaration.  Notwithstanding
      anything to the contrary herein, in the ESOP Note or the Stock Pledge Agreement
      contained or implied, in the Event of Default with respect to the ESOP Loan
      by
      the Trust, the value of Trust assets transferred to a “disqualified person” (as
      defined in section 4975(e)(2) of the Code) or a “party in

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

    interest”
      (as defined in section 3(14) of ERISA) in satisfaction thereof shall not exceed
      the amount of such default (without regard to amounts owing solely as the result
      of an acceleration under this Section 6.1).  In addition, such a
      transfer of such Trust assets shall only occur upon, and to the extent of the
      failure of the Trust to meet the principal and interest payment schedules of
      the
      ESOP Loan provided in Section 2.3 and Section 2.5 of this
      Agreement.

     

    ARTICLE VII:  
        GENERAL

     

    SECTION
      7.1   Waivers;
      Amendments.
      No
      delay on the part of the Company or any holder of the ESOP Note in the exercise
      of any right, power or remedy shall operate as a waiver thereof, nor shall
      any
      single or partial exercise by any of them of any right, power or remedy preclude
      other or further exercise thereof, or the exercise of any other right, power
      or
      remedy.  No amendment, modification or waiver of, or consent with respect
      to, any provision of this Agreement, the ESOP Note or the Stock Pledge Agreement
      shall in any event be effective unless the same shall be in writing and signed
      and delivered by the Company (or other holder of the ESOP Note), signed and
      agreed to by the Trust, and then any such amendment, modification, waiver or
      consent shall be effective only in the specific instance and for the specific
      purpose for which given.

     

    SECTION
      7.2   Confirmations;
      Information.
      The
      Company (or other holder of the ESOP Note) and the Trust agree from time to
      time, upon written request received by it from the other, to confirm to the
      other in writing the aggregate unpaid principal balance then outstanding under
      the ESOP Note and the rate or rates of interest from time to time payable with
      respect thereto.

     

    SECTION
      7.3   Captions.
      Section
      captions used in this Agreement are for convenience only, and shall not affect
      the construction of this Agreement.

     

    SECTION
      7.4   Governing
      Law; Interpretation.
      This
      Agreement shall be deemed to be a contract made under, and governed by, the
      laws
      of the State of Illinois (without regard to its conflict of laws principles),
      to
      the extent that such laws are not preempted by the laws of the United States
      of
      America. Wherever possible each provision of this Agreement shall be interpreted
      in such manner as to be effective and valid under applicable law, but if any
      provision of this Agreement shall be prohibited by or invalid under such law,
      such provision shall be ineffective to the extent of such prohibition or
      invalidity, without invalidating the remainder of such provision or the
      remaining provisions of this Agreement.

     

    SECTION
      7.5   Binding
      Agreement; Assignment.
      This
      Agreement, and the terms, covenants and conditions hereof, shall be binding
      upon
      and inure to the benefit of the parties hereto, and their respective successors
      and assigns.

     

    ARTICLE VIII:  
        LIMITED
      RECOURSE

     

    SECTION
      8.1   Limited
      Recourse.
      Notwithstanding anything to the contrary contained herein or in the ESOP Note,
      the Stock Pledge Agreement or any other instrument, agreement or document
      contained or implied, the obligations of the Trust under this Agreement, the
      ESOP Note and the Stock Pledge Agreement (collectively, the “ESOP Loan
      Obligations”) shall be

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

     

    enforceable
      to the extent permitted under the Exempt Loan Rules. Accordingly, recourse
      against the Trust is limited to the extent of (a) the Collateral (as
      defined in the Stock Pledge Agreement) not theretofore released (or entitled
      to
      be released) from the pledge and security interest under the Stock Pledge
      Agreement as provided in Section 3.2 hereof; (b) contributions (other than
      contributions of Company Stock) made to the Trust by the Company in accordance
      with the Plan to enable the Trust to pay and satisfy the ESOP Loan Obligations;
      (c) dividends, earnings or distributions on the shares of Company Stock
      held in the Suspense Account; or (d) other permissible sources under applicable
      law (as may be in effect now or in the future). No other recourse shall be
      had
      to, or against the, Trust or the assets thereof for any deficiency judgment
      against the Trust for the purpose of obtaining payment or other satisfaction
      of
      the ESOP Loan Obligations.

     

    SECTION
      8.2   No
      Personal Recourse Against Trustee.
      The
      execution and delivery of this Agreement, and the performance by the Trustee
      of
      its obligations under this Agreement and under the terms of the Plan and Trust
      have been, or will be, effected by the Trustee solely in its capacity as
      Trustee, and not in its individual or corporate capacity. Nothing in this
      Agreement shall be interpreted to increase, decrease or modify in any manner
      any
      personal liability of the Trustee to the Company or its successor and assigns,
      or to any trustee, representative or other claimant by right of Company
      resulting from the Trustee’s performance of its duties and the constituent
      instruments of the Plan or Trust, and no personal liability shall be asserted
      or
      enforceable against it by reason of any of the covenants, statements,
      representations or warranties contained in this Agreement.

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF,
      the
      parties have caused this Agreement to be duly executed and delivered by their
      respective duly authorized representatives as of date and year first written
      above.

     

    
      	
            	 	 
	 	
              FIRST
                BANKERS TRUST SERVICES, INC., not in its individual or corporate
                capacity, but solely in its capacity as the Trustee of the Mutual
                Federal
                Bancorp, Inc. Employee Stock Ownership Trust

            
	 
 	 
 	 
 
	 	By:  	/s/
              Linda Shultz

      
      

      
        	 	
                Linda
                  Shultz

                Its: 
                  Trust Officer

              

      

    

     

    
      	
            	 	 
	 	
              MUTUAL
                FEDERAL BANCORP, INC. 

            
	 
 	 
 	 
 
	 	By:  	/s/
              Stephen M. Oksas

      
      

      
        	 	
                Stephen
                  M. Oksas

                Its: 
                  Chief Executive Officer and

                      
                  President

              

      

    

     

    
      
        
        

      

      
        -9-

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