Document:

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                               BCSB BANCORP, INC.
              MANAGEMENT RECOGNITION PLAN, AS AMENDED AND RESTATED

                                    ARTICLE I
                            ESTABLISHMENT OF THE PLAN

         1.01   BCSB Bankcorp, Inc. established this Plan on July 15, 1999.  In
connection with Conversion of Baltimore County Savings Bank M.H.C. into the
stock form of organization and the establishment of BCSB Bancorp, Inc., as the
new stock holding company, the Plan has been amended and restated as an equity
plan of the BCSB Bancorp, Inc.

         1.02   Through acceptance of their appointment to the Committee, each
member of the Committee hereby accepts his or her appointment hereunder upon the
terms and conditions hereinafter stated.

                                   ARTICLE II
                               PURPOSE OF THE PLAN

         2.01   The purpose of the Plan is to reward and retain personnel of
experience and ability in key positions of responsibility by providing Employees
and Directors of the Company, the Bank, and their Affiliates with a proprietary
interest in the Company, and as compensation for their past contributions to the
Bank, and as an incentive to make such contributions in the future.

                                   ARTICLE III
                                   DEFINITIONS

         The following words and phrases when used in this Plan with an initial
capital letter, shall have the meanings set forth below unless the context
clearly indicates otherwise. Wherever appropriate, the masculine pronoun shall
include the feminine pronoun and the singular shall include the plural.

         3.01   "Affiliate" shall mean any "parent corporation" or "subsidiary
corporation" of the Company, as such terms are defined in Section 424(e) and
(f), respectively, of the Internal Revenue Code of 1986, as amended.

         3.02   "Bank" means Baltimore County Savings Bank, F.S.B.

         3.03   "Beneficiary" means the person or persons designated by a
Participant to receive any benefits payable under the Plan in the event of such
Participant's death. Such person or persons shall be designated in writing on
forms provided for this purpose by the Committee and may be changed from time to
time by similar written notice to the Committee. In the absence of a written
designation, the Beneficiary shall be the Participant's surviving spouse, if any
or if none, his estate.

         3.04   "Board" means the Board of Directors of the Company.

         3.05   "Committee" means the Management Recognition Plan Committee
appointed by the Board pursuant to Article IV hereof.

         3.06   "Common Stock" means shares of the common stock of the Company.

         3.07   "Company" means BCSB Bancorp, Inc., a Maryland corporation.

         3.08   "Continuous Service" shall mean the absence of any interruption
or termination of service as an Employee or Director of the Company or an
Affiliate. Continuous Service shall not be considered interrupted in the case of
sick leave, military leave or any other leave of absence approved by the Company
in the case of transfers between payroll locations of the Company or between the
Company, an Affiliate or a successor, or in the case of a Director's performance
of services in an emeritus or advisory capacity.

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         3.09   "Conversion" shall mean the process by which the organization
converts from a partially public mutual holding company form to a fully public
stock holding company structure.

         3.10   "Director" means a member of the Board, as well as an advisory
director.

         3.11   "Disability" shall mean a physical or mental condition, which in
the sole and absolute discretion of the Committee, is reasonably expected to be
of indefinite duration and to substantially prevent a Participant from
fulfilling his or her duties or responsibilities to the Company or an Affiliate.

         3.12   "Effective Date" means July 15, 1999.

         3.13   "Employee" means any person who is employed by the Company or an
Affiliate.

         3.14   "Non-Employee Director" shall have the meaning provided in Rule
16b-3 of the General Rules and Regulations under the Securities Exchange Act of
1934, as amended.

         3.15   Reserved.

         3.16   "Participant" means an Employee or Director who holds a Plan
Share Award.

         3.17   "Plan" means this BCSB Bancorp, Inc. Management Recognition
Plan, as amended and restated.

         3.18   "Plan Shares" means shares of Common Stock held in the Trust
which are awarded or issuable to a Participant pursuant to the Plan.

         3.19   "Plan Share Award" means a right granted under this Plan to
receive Plan Shares.

         3.20   "Plan Share Reserve" means the shares of Common Stock held by
the Trustee pursuant to Sections 5.02 and 5.03.

         3.21   "Trust" and "Trust Agreement" mean that agreement entered into
pursuant to the terms hereof between the Company and the Trustee, and "Trust"
means the trust created thereunder.

         3.22   "Trustee" means that person(s) or entity appointed by the Board
pursuant to the Trust Agreement to hold legal title to the Plan assets for the
purposes set forth herein.

         3.23   "Year of Service" shall mean a full twelve-month period,
measured from the date of a Plan Share Award and each annual anniversary of that
date, during which a Participant's Continuous Service has not terminated for any
reason.

                                   ARTICLE IV
                           ADMINISTRATION OF THE PLAN

         4.01   ROLE AND POWERS OF THE COMMITTEE. The Plan shall be administered
and interpreted by the Committee, which shall consist of not less than two
members of the Board who are Non-Employee Directors. In the absence at any time
of a duly appointed Committee, the Plan shall be administered by those members
of the Board who are Non-Employee Directors, and by the Board if there are less
than two Non-Employee Directors.

         The Committee shall have all of the powers allocated to it in this and
other Sections of the Plan. Except as limited by the express provisions of the
Plan or by resolutions adopted by the Board, the Committee shall have sole and
complete authority and discretion (i) to make Plan Share Awards to such
Employees as the Committee may select, (ii) to determine the form and content of

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Plan Share Awards to be issued under the Plan, (iii) to interpret the Plan, (iv)
to prescribe, amend and rescind rules and regulations relating to the Plan, and
(v) to make other determinations necessary or advisable for the administration
of the Plan. The Committee shall have and may exercise such other power and
authority as may be delegated to it by the Board from time to time. Subject to
Section 4.02, the interpretation and construction by the Committee of any
provisions of the Plan or of any Plan Share Award granted hereunder shall be
final and binding. The Committee shall act by vote or written consent of a
majority of its members, and shall report its actions and decisions with respect
to the Plan to the Board at appropriate times, but in no event less than one
time per calendar year. The Committee may recommend to the Board one or more
persons or entity to act as Trustee(s) in accordance with the provisions of this
Plan and the Trust.

         4.02   ROLE OF THE BOARD. The members of the Committee shall be
appointed or approved by, and will serve at the pleasure of, the Board. The
Board may in its discretion from time to time remove members from, or add
members to, the Committee. The Board shall have all of the powers allocated to
it in this and other Sections of the Plan, may take any action under or with
respect to the Plan which the Committee is authorized to take, and may reverse
or override any action taken or decision made by the Committee under or with
respect to the Plan, provided, however, that the Board may not revoke any Plan
Share Award already made or impair a participant's vested rights under a Plan
Share Award. Members of the Board who are eligible for or who have been granted
Plan Share Awards (other than pursuant to Section 6.04) may not vote on any
matters affecting the administration of the Plan or the grant of Plan Shares or
Plan Share Awards (although such members may be counted in determining the
existence of a quorum at any meeting of the Board during which actions with
regard thereto are taken). Further, with respect to all actions taken by the
Board in regard to the Plan, such action shall be taken by a majority of the
Board where such a majority of the directors acting in the matter are
Non-Employee Directors.

         4.03   LIMITATION ON LIABILITY. No member of the Board or the Committee
or the Trustee(s) shall be liable for any determination made in good faith with
respect to the Plan or any Plan Shares or Plan Share Awards granted under it. If
a member of the Board or the Committee or any Trustee is a party or is
threatened to be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative, by
reason of anything done or not done by him in such capacity under or with
respect to the Plan, the Company shall indemnify such member, against expenses
(including attorneys' fees), judgments, fines and amounts paid in settlement
actually and reasonably incurred by him or her in connection with such action,
suit or proceeding if he or she acted in good faith and in a manner he or she
reasonably believed to be in the best interests of the Company and its
Affiliates and, with respect to any criminal action or proceeding, had no
reasonable cause to believe his conduct was unlawful.

                                    ARTICLE V
                        CONTRIBUTIONS; PLAN SHARE RESERVE

         5.01   AMOUNT AND TIMING OF CONTRIBUTIONS. The Board shall determine
the amount of shares to be contributed by the Company to the Trust, provided
that the Bank may also make contributions to the Trust. Such amounts shall be
paid to the Trustee at the time of contribution. No contributions to the Trust
by Employees shall be permitted.

         5.02   INVESTMENT OF TRUST ASSETS; MAXIMUM PLAN SHARE AWARDS. The
Trustee shall invest Trust assets only in accordance with the Trust Agreement;
provided that the Trust shall not purchase, and Plan Share Awards shall not be
made with respect to, more than 526 shares, as adjusted for the second step
conversion. As of the close of the Bank's second step conversion, 86,151 shares
(as adjusted for the 0.5264 exchange rate) remain available for Plan Share
Awards under the Plan. Common Stock purchased by the Trust may be newly issued
shares, treasury shares, or shares repurchased on the open market and held in a
grantor trust.

         5.03   EFFECT OF ALLOCATIONS, RETURNS AND FORFEITURES UPON PLAN SHARE
RESERVES. Upon the allocation of Plan Share Awards under Section 6.02, the Plan
Share Reserve shall be reduced by the number of Shares subject to the Awards so
allocated. Any Shares subject or attributable to an Award which may not be
earned because of a forfeiture by the Participant pursuant to Section 7.01 shall
be added to the Plan Share Reserve.

                                   ARTICLE VI
                            ELIGIBILITY; ALLOCATIONS

         6.01   ELIGIBILITY. Except as otherwise provided in Section 6.04 and
6.05 hereof, the Committee shall make Plan Share Awards to Directors and
Employees in its discretion. In selecting those Employees to whom Plan Share

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Awards will be granted and the number of shares covered by such Awards, the
Committee shall consider the position, duties and responsibilities of the
eligible Employees, the value of their services to the Company and its
Affiliates, and any other factors the Committee may deem relevant.

         6.02   ALLOCATIONS. The Committee will determine which Employees and
Directors will be granted discretionary Plan Share Awards, and the number of
Shares covered by each Plan Share Award, provided that in no event shall any
Awards be made which will violate the governing instruments of the Bank or its
Affiliates or any applicable federal or state law or regulation. In the event
Plan Shares are forfeited for any reason or additional shares of Common Stock
are purchased by the Trustee, the Committee may, from time to time, determine
which of the Employees or Directors referenced in Section 6.01 above will be
granted additional Plan Share Awards to be awarded from the forfeited or
acquired Plan Shares.

         6.03   FORM OF ALLOCATION. As promptly as practicable after a
determination is made pursuant to Section 6.02 that a Plan Share Award is to be
made, the Committee shall notify the Participant in writing of the grant of the
Award, the number of Plan Shares covered by the Award, and the terms upon which
the Plan Shares subject to the Award may be earned. The date on which the
Committee so notifies the Participant shall be considered the date of grant of
the Plan Share Awards. The Committee shall maintain records as to all grants of
Plan Share Awards under the Plan.

         6.04   AUTOMATIC GRANTS TO NON-EMPLOYEE DIRECTORS. Notwithstanding any
other provisions of this Plan, each Non-Employee Director, on the Effective Date
shall receive on said date a Plan Share Award as follows:

        Non-Employee Directors      Number of Shares Subject to Plan Share Award
        ----------------------      --------------------------------------------
        H. Adrian Cox                               5,700
        Frank W. Dunton                             5,700
        Henry V. Kahl                               5,700
        John J. Panzer                              5,700
        P. Louis Rohe                               5,700

        Advisory Director           Number of Shares Subject to Plan Share Award
        -----------------           --------------------------------------------
        Martin F. Meyers                            5,700

         Plan Share Awards received under the provisions of this Section shall
become vested and nonforfeitable according to the general rules set forth in
subsections (a), and (b) of Section 7.01, and the Committee shall have no
discretion to alter or accelerate said vesting requirements. Unless otherwise
inapplicable or inconsistent with the provisions of this Section, the Plan Share
Awards to be granted hereunder shall be subject to all other provisions of this
Plan.

         6.05   AUTOMATIC GRANTS TO EMPLOYEES. On the Effective Date, each of
the following individuals shall receive a Plan Share Award as to the number of
Plan Shares listed below, provided that such award shall not be made to an
individual who is not an Employee on the Effective Date:

           Employee                 Number of Shares Subject to Plan Share Award
           --------                 --------------------------------------------
           Gary C. Loraditch                         5,700
           William M. Loughran                       5,700

Plan Share Awards received under the provisions of this Section shall become
vested and nonforfeitable according to the general rules set forth in
subsections (a) and (b) of Section 7.01, and the Committee shall have no
discretion to alter said vesting requirements. Unless otherwise inapplicable or
inconsistent with the provisions of this Section, the Plan Share Awards to be
granted hereunder shall be subject to all other provisions of this Plan.

         6.06   ALLOCATIONS NOT REQUIRED. Notwithstanding anything to the
contrary in Sections 6.01 and 6.02, but subject to Sections 6.04 and 6.05, no
Employee or Director shall have any right or entitlement to receive a Plan Share
Award hereunder, such Awards being at the total discretion of the Committee, nor

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shall any Employees or Directors as a group have such a right. The Committee
may, with the approval of the Board (or, if so directed by the Board) return all
Common Stock in the Plan Share Reserve to the Company at any time, and cease
issuing Plan Share Awards.

                                   ARTICLE VII
             EARNINGS AND DISTRIBUTION OF PLAN SHARES; VOTING RIGHTS

7.01     EARNING PLAN SHARES; FORFEITURES.

         (a)    GENERAL RULES. Unless otherwise specified by the Committee for a
Plan Share Award, 20% of the Plan Shares subject to a Plan Share Award shall
become vested and nonforfeitable upon the completion of each Year of Service by
the Participant, within the five-year period immediately after the date of
grant.

         (b)    EXCEPTION FOR CHANGE IN CONTROL OR TERMINATIONS DUE TO DEATH,
DISABILITY, OR RETIREMENT. Notwithstanding the general rule contained in Section
7.01(a) above, all Plan Shares subject to a Plan Share Award held by a
Participant whose service with the Company or an Affiliate terminates due to the
Participant's death, Disability, or retirement after age 65, shall be deemed
earned as of the Participant's last day of service with the Company or an
Affiliate and shall be distributed as soon as practicable thereafter. All
outstanding Plan Share Awards shall also be fully vested and become immediately
distributable upon a change in control.

         For the purpose of this Section 7.01(b), "change in control" shall mean
any of the following events:

                 iii.      Merger: The Company merges into or consolidates with
                           another entity, or merges another corporation into
                           the Company, and as a result, less than a majority of
                           the combined voting power of the resulting
                           corporation immediately after the merger or
                           consolidation is held by persons who were
                           stockholders of the Company immediately before the
                           merger or consolidation;

                 iv.       Acquisition of Significant Share Ownership: There is
                           filed, or is required to be filed, a report on
                           Schedule 13D or another form or schedule (other than
                           Schedule 13G) required under Sections 13(d) or 14(d)
                           of the Securities Exchange Act of 1934, as amended,
                           if the schedule discloses that the filing person or
                           persons acting in concert has or have become the
                           beneficial owner of 25% or more of a class of the
                           Company's voting securities, but this clause (ii)
                           shall not apply to beneficial ownership of Company
                           voting shares held in a fiduciary capacity by an
                           entity of which the Company directly or indirectly
                           beneficially owns 50% or more of its outstanding
                           voting securities;

                 iii.      Change in Board Composition: During any period of two
                           consecutive years, individuals who constitute the
                           Company's Board of Directors at the beginning of the
                           two-year period cease for any reason to constitute at
                           least a majority of the Company's Board of Directors;
                           provided, however, that for purposes of this clause
                           (iii), each director who is first elected by the
                           board (or first nominated by the board for election
                           by the members) by a vote of at least a majority of
                           the directors who were directors at the beginning of
                           the two-year period shall be deemed to have also been
                           a director at the beginning of such period; or

                 iv.       Sale of Assets: The Company or the Bank sells to a
                           third party all or substantially all of its assets.

Notwithstanding the foregoing, the Bank's second step conversion did not
constitute a change in control for purposes of the Plan.

         7.02   ACCRUAL OF DIVIDENDS. Whenever Plan Shares are paid to a
Participant or Beneficiary under Section 7.03, such Participant or Beneficiary
shall also be entitled to receive, with respect to each Plan Share paid, an
amount equal to any cash dividends (including special large and nonrecurring
dividends, including one that has the effect of a return of capital to the
Company's stockholders) and a number of shares of Common Stock equal to any

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stock dividends, declared and paid with respect to a share of Common Stock
between the date the relevant Plan Share Award was initially granted to such
Participant and the date the Plan Shares are being distributed. There shall also
be distributed an appropriate amount of net earnings, if any, of the Trust with
respect to any cash dividends so paid out.

         7.03   DISTRIBUTION OF PLAN SHARES.

         (a)    TIMING OF DISTRIBUTIONS: GENERAL RULE. Except as provided in
subsections (c), and (d) below, the Trustee shall distribute Plan Shares and
accumulated cash from dividends and interest to the Participant or his
Beneficiary, as the case may be, as soon as practicable after they have been
earned. No fractional shares shall be distributed.

         (b)    FORM OF DISTRIBUTION. The Trustee shall distribute all Plan
Shares, together with any shares representing stock dividends, in the form of
Common Stock. One share of Common Stock shall be given for each Plan Share
earned. Payments representing cash dividends (and earnings thereon) shall be
made in cash.

         (c)    WITHHOLDING. The Trustee shall withhold from any cash payment
made under this Plan sufficient amounts to cover any applicable withholding and
employment taxes, and if the amount of such cash payment is not sufficient, the
Trustee shall require the Participant or Beneficiary to pay to the Trustee the
amount required to be withheld as a condition of delivering the Plan Shares. The
Trustee shall pay over to the Company or Affiliate which employs or employed
such Participant any such amount withheld from or paid by the Participant or
Beneficiary.

         (d)    TIMING: EXCEPTION FOR 10% SHAREHOLDERS. Notwithstanding
Subsections (a) and (b) above, no Plan Shares may be distributed prior to the
date which is five (5) years from the Date of the MHC Reorganization to the
extent the Participant or Beneficiary, as the case may be, would after receipt
of such Shares own in excess of ten percent (10%) of the issued and outstanding
shares of Common Stock unless such action is approved in advance by a majority
vote of non-employee directors of the Board. To the extent this limitation would
delay the date on which a Participant receives Plan Shares, the Participant may
elect to receive from the Trust, in lieu of such Plan Shares, the cash
equivalent thereof. Any Plan Shares remaining undistributed solely by reason of
the operation of this Subsection (d) shall be distributed to the Participant or
his Beneficiary on the date which is five years from the Date of the MHC
Reorganization.

         (e)    REGULATORY EXCEPTIONS. No Plan Shares shall be distributed
unless and until all of the requirements of all applicable law and regulation
shall have been fully complied with, including the receipt of approval of the
Plan by the stockholders of the Company by such vote, if any, as may be required
by applicable law and regulations.

         7.04   VOTING OF PLAN SHARES. Unless otherwise determined by the
Committee at the time of grant, a Participant holding Plan Shares shall be
entitled to exercise full voting rights with respect to those Shares during the
restriction period.

         7.05.  [RESERVED].

                                  ARTICLE VIII
                                  MISCELLANEOUS

         8.01   ADJUSTMENTS FOR CAPITAL CHANGES.

         (a)    RECAPITALIZATIONS; STOCK SPLITS, ETC. The number and kind of
shares which may be purchased under the Plan, and the number and kind of shares
subject to outstanding Plan Share Awards, shall be proportionately adjusted for
any increase, decrease, change or exchange of shares of Common Stock for a
different number or kind of shares or other securities of the Company which
results from a merger, consolidation, recapitalization, reorganization,
reclassification, stock dividend, split-up, combination of shares, or similar
event in which the number or kind of shares is changed without the receipt or
payment of consideration by the Company.

         (b)    TRANSACTIONS IN WHICH THE COMPANY IS NOT THE SURVIVING ENTITY.
In the event of (i) the liquidation or dissolution of the Company, (ii) a merger
or consolidation in which the Company is not the surviving entity, or (iii) the

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sale or disposition of all or substantially all of the Company's assets (any of
the foregoing to be referred to herein as a "Transaction"), all outstanding Plan
Share Awards shall be adjusted for any change or exchange of shares of Common
Stock for a different number or kind of shares or other securities which results
from the Transaction.

         (c)    CONDITIONS AND RESTRICTIONS ON NEW, ADDITIONAL, OR DIFFERENT
SHARES OR SECURITIES. If, by reason of any adjustment made pursuant to this
Section, a Participant becomes entitled to new, additional, or different shares
of stock or securities, such new, additional, or different shares of stock or
securities shall thereupon be subject to all of the conditions and restrictions
which were applicable to the shares pursuant to the Plan Share Award before the
adjustment was made. In addition, the Committee shall have the discretionary
authority to impose on the Shares subject to Plan Share Awards to Employees such
restrictions as the Committee may deem appropriate or desirable, including but
not limited to a right of first refusal, or repurchase option, or both of these
restrictions.

         (d)    OTHER ISSUANCES. Except as expressly provided in this Section,
the issuance by the Company or an Affiliate of shares of stock of any class, or
of securities convertible into shares of Common Stock or stock of another class,
for cash or property or for labor or services either upon direct sale or upon
the exercise of rights or warrants to subscribe therefor, shall not affect, and
no adjustment shall be made with respect to, the number or class of shares of
Common Stock then subject to Plan Share Awards or reserved for issuance under
the Plan.

         8.02   AMENDMENT AND TERMINATION OF PLAN. The Board may, by resolution,
at any time amend or terminate the Plan; provided that no amendment or
termination of the Plan shall, without the written consent of a Participant,
impair any rights or obligations under a Plan Share Award theretofore granted to
the Participant.

         The power to amend or terminate the Plan in accordance with this
Section 8.02 shall include the power to direct the Trustee to return to the
Company all or any part of the assets of the Trust, including shares of Common
Stock held in the Plan Share Reserve. However, the termination of the Trust
shall not affect a Participant's right to earn Plan Share Awards and to receive
a distribution of Common Stock relating thereto, including earnings thereon, in
accordance with the terms of this Plan and the grant by the Committee or the
Board.

         8.03   NONTRANSFERABILITY. Plan Share Awards may not be sold, pledged,
assigned, hypothecated, transferred or disposed of in any manner other than by
will or by the laws of descent and distribution. Notwithstanding the foregoing,
or any other provision of this Plan, a Participant who holds Plan Share Awards
may transfer such Awards to his or her spouse, lineal ascendants, lineal
descendants, or to a duly established trust for the benefit of one or more of
these individuals. Plan Share Awards so transferred may thereafter be
transferred only to the Participant who originally received the grant or to an
individual or trust to whom the Participant could have initially transferred the
Awards pursuant to this Section 8.03. Plan Share Awards which are transferred
pursuant to this Section 8.03 shall be exercisable by the transferee according
to the same terms and conditions as applied to the Participant.

         8.04   NO EMPLOYMENT OR OTHER RIGHTS. Neither the Plan nor any grant of
a Plan Share Award or Plan Shares hereunder nor any action taken by the Trustee,
the Committee or the Board in connection with the Plan shall create any right,
either express or implied, on the part of any Employee or Director to continue
in the service of the Company, the Bank, or an Affiliate thereof.

         8.05   [RESERVED].

         8.06   GOVERNING LAW.  The Plan and Trust shall be governed and
construed under the laws of the State of Maryland to the extent not preempted by
Federal law.

         8.07   EFFECTIVE DATE.  The Plan became effective on July 15, 1999 and
has been subsequently amended and restated in its entirety effective April 10,
2008.

         8.08   TERM OF PLAN. This Plan shall remain in effect until the earlier
of (i) termination by the Board, or (ii) the distribution of all assets of the
Trust. Termination of the Plan shall not affect any Plan Share Awards previously
granted, and such Awards shall remain valid and in effect until they have been
earned and paid, or by their terms expire or are forfeited.

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         8.09   TAX STATUS OF TRUST. It is intended that (i) the Trust
associated with the Plan be treated as a grantor trust of the Company under the
provisions of Section 671 et seq. of the Code, as the same may be amended from
time to time, and (ii) that in accordance with Revenue Procedure 92-65 (as the
same may be amended from time to time), Participants have the status of general
unsecured creditors of the Company, the Plan constitutes a mere unfunded promise
to make benefit payments in the future, the Plan is unfunded for tax purposes
and for purposes of Title I of the Employee Retirement Income Security Act of
1974, as amended, and the Trust has been and will continue to be maintained in
conformity with Revenue Procedure 92-64 (as the same may be amended from time to
time).

                                       8exhibit102.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

	Exhibit 10.2

SPHERION CORPORATION

RESTRICTED STOCK UNIT AGREEMENT

     This Restricted Stock Unit Agreement (the “Agreement”) is entered into as of the 19th day of February , 2008 , by and between SPHERION CORPORATION (the “Company”) and Roy G Krause (“Recipient”).

W I T N E S S E T H:

     WHEREAS, the Company has adopted the Spherion Corporation 2006 Stock Incentive Plan (the “Plan”), which is administered by a Committee appointed by the Company's Board of Directors; and

     WHEREAS, the Board has granted to Recipient an award of restricted stock units under the terms of the Plan to encourage Recipient’s continued loyalty and diligence (the “Award”); and

     WHEREAS, to comply with the terms of the Plan and to further the interests of the Company and Recipient, the parties hereto have set forth the terms of such award in writing in the Agreement;

     NOW, THEREFORE, for and in consideration of the mutual promises herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. Stock Award.

(a) General. Subject to the restrictions and other conditions set forth herein, the Company hereby grants to Recipient an award of 120,000 shares of the Common Stock $.01 par value, of the Company (the "Common Stock"), which shares may be issued upon satisfaction of the terms and conditions, including the vesting conditions, set forth herein. Such shares are hereinafter referred to as the “Restricted Stock Units.

(b) Background. The Restricted Stock Units were awarded to Recipient on February 19, 2008, (the "Grant Date").

2. Vesting Restrictions.

The Restricted Stock Units shall vest in accordance with the schedule set forth below, provided that (a) the Recipient remains employed by the Company or its subsidiaries on such dates, and (b), if applicable, the Company successfully and timely achieves the objectives set forth on Exhibit "A" attached hereto, as determined in the sole discretion of the Company's Compensation Committee of its Board of Directors (the "Committee"):

	Date  	Percent of Shares Vested 
	  
	2/19/2009  	33.33% 
	2/19/2010  	33.33%
	2/19/2011  	33.33%

3. Forfeiture Upon Termination of Employment.

If Recipient is no longer employed by the Company or any of its subsidiaries for any reason, any Restricted Stock Units that are not then vested under Section 2 shall be immediately forfeited, and Recipient shall have no rights in such Restricted Stock Units. Any Restricted Stock Units that do not vest and are no longer subject to vesting due to the objectives set forth on Exhibit "A" not being 100% met, shall expire and be immediately forfeited on February 19, 2009, and Recipient shall have no rights in such Restricted Stock Units.

 

	1

4. Delivery of Deferred Restricted Stock Units.

     (a) General. Except as provided in subsection (b) below, the Company shall instruct its transfer agent to issue a stock certificate representing that number of vested shares of Common Stock issuable upon vesting of the Restricted Stock Units, in the name of Recipient, within ninety (90) days after the vesting of such Restricted Stock Units.

     (b) Deferred Delivery. Recipient may elect to defer the receipt of the shares issuable upon vesting of Restricted Stock Units beyond such vesting date. Such election must be completed no later than the date of this Award by completing an election form which has been approved by the Committee. In addition, such election must be made in accordance with procedures established by the Committee. The Recipient acknowledges that neither the Company nor the Committee makes any assurances as to the tax consequences of such election nor that such election will not result in adverse tax consequences under Section 409A of the Internal Revenue Code.

5. Agreement of Recipient.

     Recipient acknowledges that certain restrictions under state or federal securities laws may apply with respect to the Restricted Stock Units granted to Recipient pursuant to the Award. Specifically, Recipient acknowledges that, to the extent Recipient is an “affiliate” of the Company (as that term is defined by the Securities Act of 1933), the Restricted Stock Units granted to Recipient as a result of the Award are subject to certain trading restrictions under applicable securities laws (including particularly the Securities and Exchange Commission's Rule 144). Recipient hereby agrees to execute such documents and take such actions as the Company may reasonably require with respect to state and federal securities laws and any restrictions on the resale of such shares which may pertain under such laws.

6. Withholding.

     Recipient shall pay an amount equal to the amount of all applicable federal, state and local or foreign taxes which the Company is required to withhold at any time. Such payment may be made in cash, by withholding from Recipient’s normal pay, or by delivery of shares of the Company’s Common Stock (including shares issuable under this Agreement).

7. Plan Provisions.

     In addition to the terms and conditions set forth herein, the Award is subject to and governed by the terms and conditions set forth in the Plan, which is hereby incorporated by reference. Any terms used herein with an initial capital letter shall have the same meaning as provided in the Plan, unless otherwise specified herein. In the event of any conflict between the provisions of the Agreement and the Plan, the Plan shall control.

8. Miscellaneous.

     (a) Limitation of Rights. The granting of the Award and the execution of the Agreement shall not give Recipient any rights to similar grants in future years or any right to be retained in the employ or service of the Company or any of its subsidiaries or to interfere in any way with the right of the Company or any such Subsidiary to terminate Recipient's employment or services at any time as permitted by law or the right of Recipient to terminate Recipient’s employment at any time.

     (b) Shareholder Rights. Recipient shall have none of the rights of a shareholder with respect to the Restricted Stock Units until such shares have been delivered and issued to Recipient pursuant to Section 4 of this Agreement.

     (c) Severability. If any term, provision, covenant or restriction contained in the Agreement is held by a court or a federal regulatory agency of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions contained in the Agreement shall remain in full force and effect, and shall in no way be affected, impaired or invalidated.

 

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   (d) Controlling Law. The Agreement is being made in Florida and shall be construed and enforced in accordance with the laws of that state.

   (e) Construction. The Agreement contains the entire understanding between the parties and supersedes any prior understanding and agreements between them representing the subject matter hereof. There are no representations, agreements, arrangements or understandings, oral or written, between and among the parties hereto relating to the subject matter hereof which are not fully expressed herein.

     (f) Headings. Section and other headings contained in the Agreement are for reference purposes only and are in no way intended to describe, interpret, define or limit the scope, extent or intent of the Agreement or any provision hereof.

IN WITNESS WHEREOF, the parties hereto have executed the Agreement as of day and year first set forth above.

	SPHERION CORPORATION                                         

	By:  	 /s/ John D. Heins 
	 	John D. Heins  
	 	SVP & Chief HR Officer  

	   RECIPIENT                                                         

	By:  	 /s/ Roy G. Krause  
	  	Roy G. Krause  

 

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	Exhibit A

The Committee reserves the right, in its sole discretion to determine if the objectives below have been met. In addition the Committee may make adjustments that it deems reasonable, in its sole discretion to adjust or amend the objectives below to account for items including, but not limited to, mergers, acquisitions or other material changes or events.

The Company's objectives for vesting the Restricted Stock Units pursuant to the terms of the Agreement is the achievement of the following goal at or above the minimum Threshold as described below:

	Total Company EPS for

Continuing Operations

Performance  	Percent attainment

	Percentage of

Restricted Stock Units

Award earned 

	$*  	*%  	0%
	$*  	*%  	50% 
	$*  	*%  	75% 
	$*  	*%  	100% 

* Confidential terms omitted and provided separately to the Securities and Exchange Commission.

 

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