Document:

TWO-YEAR
      EMPLOYMENT AGREEMENT

    (EQUITABLE
      FINANCIAL CORP./EQUITABLE BANK)

     

    THIS
      AGREEMENT
      (the
“Agreement”), made this 30th
      day of
      January, 2006, by and among EQUITABLE
      FINANCIAL CORP.,
      a
      federally chartered corporation (the
      “Company”) EQUITABLE
      BANK, a
      federally-chartered savings bank (the
      “Bank”), and
      TERRY M. PFEIFER (“Executive”).

    

    W
      I T N E S S E T H

    

    WHEREAS,
      Executive serves in a position of substantial responsibility;

    

    WHEREAS,
      the
      Company and the Bank wish to assure the services of Executive for the period
      provided in this Agreement; and

    

    WHEREAS,
      Executive is willing to serve in the employ of the Bank on a full-time basis
      for
      said period.

    

    NOW,
      THEREFORE,
      in
      consideration of the mutual covenants herein contained, and upon the other
      terms
      and conditions hereinafter provided, the parties hereby agree as
      follows:

    

    1.           
       Employment.
      Executive
      is employed as the Senior Vice President and Chief Investment Officer of the
      Company and the Bank. Executive shall perform all duties and shall have all
      powers which are commonly incident to the office of Senior Vice President or
      which, consistent with those offices, are delegated to him by the Board of
      Directors of the Bank or the Company or the Executive’s immediate supervisor.

    

    2.          
       Location
      and Facilities.
      The
      Executive will be furnished with the working facilities and staff customary
      for
      executive officers with the title and duties set forth in Section 1 and as
      are
      necessary for him to perform his duties. The location of such facilities and
      staff shall be at the principal administrative offices of the Company and the
      Bank, or at such other site or sites customary for such offices.

    

    3.           
      Term.

    

    
      	 	
              a.

            	
              The
                term of this Agreement shall be (i) the initial term, consisting
                of the
                period commencing on the date of this Agreement (the “Effective Date”) and
                ending on the second anniversary of the Effective Date, plus (ii)
                any and
                all extensions of the initial term made pursuant to this Section
                3.

            

    

    

    
      	 	
              b.

            	
              Commencing
                on the first year anniversary date of this Agreement, and continuing
                on
                each anniversary thereafter, the disinterested members of the boards
                of
                directors of the Bank and the Company may extend the Agreement an
                additional year such that the remaining term of the Agreement shall
                be
                twenty-four (24) months, unless Executive elects not to extend the
                term of
                this Agreement by giving written notice in accordance with Section
                19 of
                this Agreement. The Board of Directors of the Bank and the Company
                (the
                “Boards”) will review the Agreement and Executive’s performance annually
                for purposes of determining whether to extend the Agreement and the
                rationale and results thereof shall be included in the minutes of
                the
                Board’s meeting. The Executive shall receive notice as soon as possible
                after such review as to whether the Agreement is to be
                extended.

            

    

    
      
      

    

    
      
      

      
        

      

    

    
      
      

    4.           
      Commissions.
       The
      Company, the Bank and Executive have agreed to the commission schedule attached
      as Exhibit A to this Agreement.

    

    5.           
      Bonuses.
      The
      Executive shall be entitled to participate in discretionary bonuses or other
      incentive compensation programs that the Company and the Bank may award from
      time to time to senior management employees pursuant to bonus plans or
      otherwise.

    

    6.           
      Benefit
      Plans.
      The
      Executive shall be entitled to participate in such life insurance, medical,
      dental, pension, profit sharing, retirement and stock-based compensation plans
      and other programs and arrangements as may be approved from time to time by
      the
      Company and the Bank for the benefit of their employees.

    

    7.           
      Vacation
      and Leave.

    

    
      	 	
              a.

            	
              The
                Executive shall be entitled to vacation and other leave in accordance
                with
                policy for senior executives, or otherwise as approved by the
                Boards.

            

    

    

    
      	 	
              b.

            	
              In
                addition to paid vacation and other leave, the Executive shall be
                entitled, without loss of pay, to absent himself voluntarily from
                the
                performance of his employment for such additional periods of time
                and for
                such valid and legitimate reasons as the Boards may in their discretion
                determine. Further, the Boards may grant to the Executive a leave
                or
                leaves of absence, with or without pay, at such time or times and
                upon
                such terms and conditions as the Boards in their discretion may
                determine.

            

    

    

    8.           
      Expense
      Payments and Reimbursements.
      The
      Executive shall be reimbursed for all reasonable out-of-pocket business expenses
      that he shall incur in connection with his services under this Agreement upon
      substantiation of such expenses in accordance with applicable policies of the
      Company and the Bank.

     

    9.     
        Reserved

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    10.         
      Loyalty
      and Confidentiality.

    

    
      	 	
              a.

            	
              During
                the term of this Agreement Executive: (i) shall devote all his time,
                attention, skill, and efforts to the faithful performance of his
                duties
                hereunder; provided, however, that from time to time, Executive may
                serve
                on the boards of directors of, and hold any other offices or positions
                in,
                companies or organizations which will not present any conflict of
                interest
                with the Company and the Bank or any of their subsidiaries or affiliates,
                unfavorably affect the performance of Executive’s duties pursuant to this
                Agreement, or violate any applicable statute or regulation and (ii)
                shall
                not engage in any business or activity contrary to the business affairs
                or
                interests of the Company and the
                Bank.

            

    

    

    
      	 	
              b.

            	
              Nothing
                contained in this Agreement shall prevent or limit Executive’s right to
                invest in the capital stock or other securities of any business dissimilar
                from that of the Company and the Bank, or, solely as a passive, minority
                investor, in any business.

            

    

    

    
      	 	
              c.
                

            	
              Executive
                agrees to maintain the confidentiality of any and all information
                concerning the operation or financial status of the Company and the
                Bank;
                the names or addresses of any of its borrowers, depositors and other
                customers; any information concerning or obtained from such customers;
                and
                any other information concerning the Company and the Bank to which
                he may
                be exposed during the course of his employment. The Executive further
                agrees that, unless required by law or specifically permitted by
                the Board
                in writing, he will not disclose to any person or entity, either
                during or
                subsequent to his employment, any of the above-mentioned information
                which
                is not generally known to the public, nor shall he employ such information
                in any way other than for the benefit of the Company and the
                Bank.

            

    

    

    11.       
       Termination
      and Termination Pay.
      Subject
      to Section 12 of this Agreement, Executive’s employment under this Agreement may
      be terminated in the following circumstances:

    

    
      	 	
              a.

            	
              Death.
                Executive’s employment under this Agreement shall terminate upon his death
                during the term of this Agreement, in which event Executive’s estate shall
                be entitled to receive the compensation due to the Executive through
                the
                last day of the calendar month in which his death
                occurred.

            

    

    

    
      	 	
              b.

            	
              Retirement.
                This Agreement shall be terminated upon Executive’s retirement under the
                retirement benefit plan or plans in which he participates pursuant
                to
                Section 6 of this Agreement or
                otherwise.

            

    

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	 	
              c.

            	
              Disability.

            

    

     

    
      	 	 	
              i.

            	
              The
                Board or Executive may terminate Executive’s employment after having
                determined Executive has a Disability. For purposes of this Agreement,
                “Disability” means a physical or mental infirmity that impairs Executive’s
                ability to substantially perform his duties under this Agreement
                and that
                results in Executive becoming eligible for long-term disability benefits
                under any long-term disability plans of the Company and the Bank
                (or, if
                there are no such plans in effect, that impairs Executive’s ability to
                substantially perform his duties under this Agreement for a period
                of one
                hundred eighty (180) consecutive days). The Board shall determine
                whether
                or not Executive is and continues to be permanently disabled for
                purposes
                of this Agreement in good faith, based upon competent medical advice
                and
                other factors that they reasonably believe to be relevant. As a condition
                to any benefits, the Board may require Executive to submit to such
                physical or mental evaluations and tests as it deems reasonably
                appropriate.

            

    

    

    
      	 	
              ii.

            	
              In
                the event of such Disability, Executive’s obligation to perform services
                under this Agreement will terminate. The Bank will pay Executive,
                as
                Disability pay, an amount equal to 70% of Executive’s bi-weekly rate of
                base salary in effect as of the date of his termination of employment
                due
                to Disability. Disability payments will be made on a monthly basis
                and
                will commence on the first day of the month following the effective
                date
                of Executive’s termination of employment for Disability and end on the
                earlier of: (A) the date he returns to full-time employment at the
                Bank in
                the same capacity as he was employed prior to his termination for
                Disability; (B) his death; or (C) upon attainment of age 65. Such
                payments
                shall be reduced by the amount of any short- or long-term disability
                benefits payable to the Executive under any other disability programs
                sponsored by the Company and the Bank. In addition, during any period
                of
                Executive’s Disability, Executive and his dependents shall, to the
                greatest extent possible, continue to be covered under all benefit
                plans
                (including, without limitation, retirement plans and medical, dental
                and
                life insurance plans) of the Company and the Bank, in which Executive
                participated prior to his Disability on the same terms as if Executive
                were actively employed by the Company and the
                Bank.

            

    

    

    
      	 	
              d.

            	
              Termination
                for Cause.

            

    

    

    
      	 	
              i.

            	
              The
                Board may, by written notice to the Executive in the form and manner
                specified in this paragraph, terminate his employment at any time,
                for
                “Cause”. The Executive shall have no right to receive compensation or
                other benefits for any period after termination for Cause. Termination
                for
                “Cause” shall mean termination because of, in the good faith determination
                of the Board, Executive’s: 

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    
      	 	
              (1)

            	
              Personal
                dishonesty;

            

    

    

    
      	 	
              (2)

            	
              Incompetence;

            

    

    

    
      	 	 	 	
              (3)

            	
              Willful
                misconduct;

            

    

    

    
      	 	 	 	
              (4)

            	
              Breach
                of fiduciary duty involving personal
                profit;

            

    

    

    
      	 	 	 	
              (5)

            	
              Intentional
                failure to perform stated duties;

            

    

    

    
      	 	 	 	
              (6)

            	
              Willful
                violation of any law, rule or regulation (other than traffic violations
                or
                similar offenses) or a final cease-and-desist order;
                or

            

    

    

    
      	 	 	 	
              (7)

            	
              Material
                breach by Executive of any provision of this
                Agreement.

            

    

    

    
      	 	 	
              ii.

            	
              Notwithstanding
                the foregoing, Executive shall not be deemed to have been terminated
                for
                Cause by the Company and the Bank unless there shall have been delivered
                to Executive a copy of a resolution duly adopted at a meeting of
                such
                Board where in the good faith opinion of the Board, Executive was
                guilty
                of the conduct described above and specifying the particulars
                thereof.

            

    

    

    
      	 	
              e.

            	
              Voluntary
                Termination by Executive.
                In addition to his other rights to terminate under this Agreement,
                Executive may voluntarily terminate employment during the term of
                this
                Agreement upon at least sixty (60) days prior written notice to the
                Boards, in which case Executive shall receive only his compensation,
                vested rights and employee benefits up to the date of his
                termination.

            

    

    

    
      	 	
              f.

            	
              Without
                Cause or With Good Reason.

            

    

    

    
      	 	
              i.

            	
              In
                addition to termination pursuant to Sections 11(a) through 11(e)
                the
                Boards, may, by written notice to Executive, immediately terminate
                his
                employment at any time for a reason other than Cause (a termination
                “Without Cause”) and Executive may, by written notice to the Boards,
                immediately terminate this Agreement at any time within ninety (90)
                days
                following an event constituting “Good Reason” as defined below (a
                termination “With Good Reason”).

            

    

    

    
      	 	
              ii.

            	
              Subject
                to Section 12 of this Agreement, in the event of termination under
                this
                Section 11(f), Executive shall be entitled to receive his base salary
                for
                the remaining term of the Agreement paid in one lump sum within ten
                (10)
                calendar days of such termination. Also, in such event, Executive
                shall,
                for the remaining term of the Agreement, receive the benefits he
                would
                have received during the remaining term of the Agreement under any
                retirement programs (whether tax-qualified or non-qualified) in which
                Executive participated prior to his termination (with the amount
                of the
                benefits determined by reference to the benefits received by the
                Executive
                or accrued on his behalf under such programs during the twelve (12)
                months
                preceding his termination) and continue to participate in any benefit
                plans of the Company or the Bank that provide health (including medical
                and dental), or life insurance, or similar coverage upon terms no
                less
                favorable than the most favorable terms provided to senior executives
                of
                the Company and the Bank during such period. In the event that the
                Company
                and the Bank are unable to provide such coverage by reason of Executive
                no
                longer being an employee, the Company and the Bank shall provide
                Executive
                with comparable coverage on an individual policy
                basis.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	 	
              iii.

            	
              “Good
                Reason” shall exist if, without Executive’s express written consent, the
                Company and the Bank materially breach any of their respective obligations
                under this Agreement. Without limitation, such a material breach
                shall be
                deemed to occur upon any of the
                following:

            

    

    

    
      	 	 	 	
              (1)

            	
              A
                material reduction in Executive’s responsibilities or authority in
                connection with his employment with the Company or the
                Bank;

            

    

    

    
      	 	 	 	
              (2)

            	
              Assignment
                to Executive of duties of a non-executive nature or duties for which
                he is
                not reasonably equipped by his skills and
                experience;

            

    

    

    
      	 	 	 	
              (3)

            	
              A
                reduction in salary or benefits contrary to the terms of this Agreement,
                or, following a Change in Control as defined in Section 12 of this
                Agreement, any reduction in salary or material reduction in benefits
                below
                the amounts to which he was entitled prior to the Change in
                Control;

            

    

    

    
      	 	 	 	
              (4)

            	
              Termination
                of incentive and benefit plans, programs or arrangements, or reduction
                of
                Executive’s participation to such an extent as to materially reduce their
                aggregate value below their aggregate value as of the Effective
                Date;

            

    

    

    
      	 	 	 	
              (5)

            	
              A
                requirement that Executive relocate his principal business office
                or his
                principal place of residence outside of the area consisting of a
                fifty
                (50) mile radius from the current main office and any branch of the
                Bank,
                or the assignment to Executive of duties that would reasonably require
                such a relocation; or

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	
            	 	 	
              (6)

            	
              Liquidation
                or dissolution of the Company or the
                Bank.

            

    

    
      	 	 	
              iv.

            	
              Notwithstanding
                the foregoing, a reduction or elimination of the Executive’s benefits
                under one or more benefit plans maintained by the Company or the
                Bank as
                part of a good faith, overall reduction or elimination of such plans
                or
                plans or benefits thereunder applicably to all participants in a
                manner
                that does not discriminate against Executive (except as such
                discrimination may be necessary to comply with law) shall not constitute
                an event of Good Reason or a material breach of this Agreement, provided
                that benefits of the type or to the general extent as those offered
                under
                such plans prior to such reduction or elimination are not available
                to
                other officers of the Company and the Bank or any company that controls
                either of them under a plan or plans in or under which Executive
                is not
                entitled to participate.

            

    

    

    
      	 	
              g.

            	
              Continuing
                Covenant Not to Compete or Interfere with Relationships.
                Regardless of anything herein to the contrary, following a termination
                by
                the Company and the Bank or Executive pursuant to Section
                11(f):

            

    

    

    
      	 	
              i.

            	
              Executive’s
                obligations under Section 10(c) of this Agreement will continue in
                effect;
                and

            

    

    

    
      	 	 	
              ii.

            	
              During
                the period ending on the first anniversary of such termination, the
                Executive shall not serve as an officer, director or employee of
                any bank
                holding company, bank, savings bank, savings and loan holding company,
                or
                mortgage company (any of which, a “Financial Institution”) which Financial
                Institution offers products or services competing with those offered
                by
                the Bank from any office within fifty (50) miles from the main office
                or
                any branch of the Bank and shall not interfere with the relationship
                of
                the Company and the Bank and any of its employees, agents, or
                representatives. 

            

    

    

    12.        
       Termination
      in Connection with a Change in Control.
      For
      purposes of this Agreement, a Change in Control means any of the following
      events:

    

    (i) Merger:
      The
      Company merges into or consolidates with another corporation, 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.

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    (ii) Acquisition
      of Significant Share Ownership:
      There
      is filed or 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, 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 (b)
      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
      stockholders) by a vote of at least two-thirds (2/3) 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 sells to a third party all or substantially all of its assets.

     

    Notwithstanding
      anything in this Agreement to the contrary, in no event shall reorganization
      of
      the Bank from the mutual holding company form or organization to the full stock
      holding company form of organization (including the elimination of the mutual
      holding company) constitute a “Change in Control” for purposes of this
      Agreement.

     

    
      
        a.        
           Termination.
          If
          within the period ending two (2) years after a Change in Control, (i) the
          Company and the Bank shall terminate the Executive’s employment Without Cause,
          or (ii) Executive voluntarily terminates his employment With Good Reason,
          the
          Company and the Bank shall, within ten calendar days of the termination
          of
          Executive’s employment, make a lump-sum cash payment to him equal to 2.00 times
          the Executive’s average Annual Compensation over the five (5) most recently
          completed calendar years ending with the year immediately preceding the
          effective date of the Change in Control. In determining Executive’s average
          Annual Compensation, Annual Compensation shall include base salary and
          any other
          taxable income, including but not limited to amounts related to the granting,
          vesting or exercise of restricted stock or stock option awards, commissions,
          bonuses (whether paid or accrued for the applicable period), as well as,
          retirement benefits, director or committee fees and fringe benefits paid
          or to
          be paid to Executive or paid for Executive’s benefit during any such year,
          profit sharing, employee stock ownership plan and other retirement contributions
          or benefits, including to any tax-qualified plan or arrangement (whether
          or not
          taxable) made or accrued on behalf of Executive of such year. The cash
          payment
          made under this Section 12(a) shall be made in lieu of any payment also
          required
          under Section 11(f) of this Agreement because of a termination in such
          period.
          Executive’s rights under Section 11(f) are not otherwise affected by this
          Section 12. Also, in such event, the Executive shall, for a twenty-four
          (24) month period following his termination of employment, receive the
          benefits
          he would have received over such period under any retirement programs (whether
          tax-qualified or nonqualified) in which the Executive participated prior
          to his
          termination (with the amount of the benefits determined by reference to
          the
          benefits received by the Executive or accrued on his behalf under such
          programs
          during the twelve (12) months preceding the Change in Control) and continue
          to
          participate in any benefit plans of the Company and the Bank that provide
          health
          (including medical and dental), or life insurance, or similar coverage
          upon
          terms no less favorable than the most favorable terms provided to senior
          executives of the Bank during such period. In the event that the Company
          and the
          Bank are unable to provide such coverage by reason of the Executive no
          longer
          being an employee, the Company and the Bank shall provide the Executive
          with
          comparable coverage on an individual policy.

      

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    
      
         

        b.            The
          provisions of Section 12 and Sections 14 through 25, including the defined
          terms
          used is such sections, shall continue in effect until the later of the
          expiration of  this Agreement or two (2) years following a Change in
          Control.

      

    

     

    13.     
Indemnification
      and Liability Insurance.
      Subject
      to and limited by Section 26(f) of this Agreement, the Bank and the Company
      shall provide the following:

     

    
      
                        a.          Indemnification.
          The
          Company and the Bank agree to indemnify the Executive (and his heirs, executors,
          and administrators), and to advance expenses related thereto, to the fullest
          extent permitted under applicable law and regulations against any and all
          expenses and liabilities reasonably incurred by him in connection with
          or
          arising out of any action, suit, or proceeding in which he may be involved
          by
          reason of his having been a director or Executive of the Company, the Bank
          or
          any of their subsidiaries (whether or not he continues to be a director
          or
          Executive at the time of incurring any such expenses or liabilities) such
          expenses and liabilities to include, but not be limited to, judgments,
          court
          costs, and attorney’s fees and the cost of reasonable settlements, such
          settlements to be approved by the Board, if such action is brought against
          the
          Executive in his capacity as an Executive or director of the Company and
          the
          Bank or any of their subsidiaries. Indemnification for expense shall not
          extend
          to matters for which the Executive has been terminated for Cause. Nothing
          contained herein shall be deemed to provide indemnification prohibited
          by
          applicable law or regulation. Notwithstanding anything herein to the contrary,
          the obligations of this Section 13 shall survive the term of this Agreement
          by a
          period of six (6) years.

      

    

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    
      
                      

             
            b.           Insurance.
          During
          the period in which indemnification of the Executive is required under
          this
          Section, the Company and the Bank shall provide the Executive (and his 
heirs, executors, and administrators) with coverage under a directors’ and
          Executives’ liability policy at the expense of the Company and the Bank, at
          least equivalent  to such coverage provided to directors and senior
          Executives of the Company and the Bank.

      

    

     

                   
      14.         Reimbursement
      of Executive’s Expenses to Enforce this Agreement.
      The
      Company and the Bank shall reimburse the Executive for all reasonable
      out-of-pocket expenses, including, without limitation, reasonable attorney’s
      fees, incurred by the Executive in connection with successful enforcement by
      the
      Executive of the obligations of the Company and the Bank to the Executive under
      this Agreement. Successful enforcement shall mean the grant of an award of
      money
      or the requirement that the Company and the Bank take some action specified
      by
      this Agreement: (i) as a result of court order; or (ii) otherwise by the Company
      and the Bank following an initial failure of the Company and the Bank to pay
      such money or take such action promptly after written demand therefor from
      the
      Executive stating the reason that such money or action was due under this
      Agreement at or prior to the time of such demand.

     

                   
      15.         Limitation
      of Benefits under Certain Circumstances.
      If
      the
      payments and benefits pursuant to Section 12 of this Agreement, either alone
      or
      together with other payments and benefits which the Executive has the right
      to
      receive from the Company and the Bank, would constitute a “parachute payment”
under Section 280G of the Code, the payments and benefits pursuant to Section
      12
      shall be reduced or revised, in the manner determined by the Executive, by
      the
      amount, if any, which is the minimum necessary to result in no portion of the
      payments and benefits under Section 12 being non-deductible to the Company
      and
      the Bank pursuant to Section 280G of the Code and subject to the excise tax
      imposed under Section 4999 of the Code. The determination of any reduction
      in
      the payments and benefits to be made pursuant to Section 12 shall be based
      upon the opinion of the Company and the Bank’s independent public accountants
      and paid for by the Company and the Bank. In the event that the Company, the
      Bank and/or the Executive do not agree with the opinion of such counsel, (i)
      the
      Company and the Bank shall pay to the Executive the maximum amount of payments
      and benefits pursuant to Section 12, as selected by the Executive, which such
      opinion indicates there is a high probability of such payments and benefits
      being deductible to the Company and the Bank and not subject to the imposition
      of the excise tax imposed under Section 4999 of the Code and (ii) the Company
      and the Bank may request, and the Executive shall have the right to demand
      that
      they request, a ruling from the IRS as to whether the disputed payments and
      benefits pursuant to Section 12 have such consequences. Any such request for
      a
      ruling from the IRS shall be promptly prepared and filed by the Company and
      the
      Bank, but in no event later than thirty (30) days from the date of the opinion
      of counsel referred to above, and shall be subject to the Executive’s approval
      prior to filing, which shall not be unreasonably withheld. The Company, the
      Bank
      and the Executive agree to be bound by any ruling received from the IRS and
      to
      make appropriate payments to each other to reflect any such rulings, together
      with interest at the applicable federal rate provided for in Section 7872(f)(2)
      of the Code.

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

                   
      16.         Injunctive
      Relief.
      If
      there
      is a breach or threatened breach of Section 11(g) of this Agreement or the
      prohibitions upon disclosure contained in Section 10(c) of this Agreement,
      the
      parties agree that there is no adequate remedy at law for such breach, and
      that
      the Company and the Bank shall be entitled to injunctive relief restraining
      the
      Executive from such breach or threatened breach, but such relief shall not
      be
      the exclusive remedy hereunder for such breach. The parties hereto likewise
      agree that the Executive, without limitation, shall be entitled to injunctive
      relief to enforce the obligations of the Company and the Bank under this
      Agreement.

    

                   
      17.         Successors
      and Assigns.

    

    
      	
            	a.	
              This
                Agreement shall inure to the benefit of and be binding upon any corporate
                or other successor of the Company and the Bank which shall acquire,
                directly or indirectly, by merger, consolidation, purchase or
                otherwise, all or substantially all of the assets or stock of the
                Company
                and the Bank.

            

    

    

    
      	
            	b.	
              Since
                the Company and the Bank are contracting for the unique and personal
                skills of Executive, Executive shall be precluded from assigning
                or
                delegating his rights or duties hereunder without first obtaining
                the
                written consent of the Company and the
                Bank.

            

    

                    
      

                   
      18.         No
      Mitigation.
      Executive
      shall not be required to mitigate the amount of any payment provided for in
      this
      Agreement by seeking other employment or otherwise and no such payment shall
      be
      offset or reduced by the amount of any compensation or benefits provided to
      Executive in any subsequent employment.

    

                   
      19.         Notices.
      All
      notices, requests, demands and other communications in connection with this
      Agreement shall be made in writing and shall be deemed to have been given when
      delivered by hand or 48 hours after mailing at any general or branch United
      States Post Office, by registered or certified mail, postage prepaid, addressed
      to the Company and/or the Bank at their principal business offices and to
      Executive at his home address as maintained in the records of the Company and
      the Bank.

     

    
                      
        20.      No
        Plan Created by this Agreement.
        Executive,
        the Company and the Bank expressly declare and agree that this Agreement
        was
        negotiated among them and that no provision or provisions of this Agreement
        are
        intended to, or shall be deemed to, create any plan for purposes of the Employee
        Retirement Income Security Act or any other law or regulation, and each party
        expressly waives any right to assert the contrary. Any assertion in any judicial
        or administrative filing, hearing, or process that such a plan was so created
        by
        this Agreement shall be deemed a material breach of this Agreement by the
        party
        making such an assertion.

    

    

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

                   
      21.         Amendments.
      No
      amendments or additions to this Agreement shall be binding unless made in
      writing and signed by all of the parties, except as herein otherwise
      specifically provided.

    

                   
      22.         Applicable
      Law.
      Except
      to the extent preempted by Federal law, the laws of the State of Nebraska shall
      govern this Agreement in all respects, whether as to its validity, construction,
      capacity, performance or otherwise.

    

                   
      23.         Severability.
      The
      provisions of this Agreement shall be deemed severable and the invalidity or
      unenforceability of any provision shall not affect the validity or
      enforceability of the other provisions hereof.

    
                
      24.          Headings.
      Headings
      contained herein are for convenience of reference only.

     

                   
      25.          Entire
      Agreement.
      This
      Agreement, together with any understanding or modifications thereof as agreed
      to
      in writing by the parties, shall constitute the entire agreement among the
      parties hereto with respect to the subject matter hereof, other than written
      agreements with respect to specific plans, programs or arrangements described
      in
      Sections 5 and 6. 

    

                    
      26.          Required
      Provisions.
      In the
      event any of the foregoing provisions of this Section 26 are in conflict with
      the terms of this Agreement, this Section 26 shall prevail.

     

    
      	
            	
                
                a.  

            	
              The
                Bank’s board of directors may terminate Executive’s employment at any
                time, but any termination by the Bank, 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
                as defined in Section 11(d)
                hereinabove.

            

    

     

    
      	
            	
                
                b.

            	
              If
                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 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.

            

    

     

    
      	
            	
                
                c.

            	
              If
                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.

            

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    
      	
            	
                
                d. 

            	
               If
                the Bank is in default as defined in Section 3(x)(1) of the Federal
                Deposit Insurance Act, 12 U.S.C. §1813(x)(1) 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.

            

    

     

    
      	
            	
                
                e.

            	
              All
                obligations under this contract shall be terminated, except to the
                extent
                determined that continuation of the contract is necessary for the
                continued operation of the Bank: (i) by the Director of the OTS (or
                his
                designee), at the time the FDIC enters into an agreement to provide
                assistance to or on behalf of the Bank under the authority contained
                in
                Section 13(c) of the Federal Deposit Insurance Act, 12 U.S.C. §1823(c); or
                (ii) by the Director of the OTS (or his designee) at the time the
                Director
                (or his designee) approves a supervisory merger to resolve problems
                related to the operations of the Bank or when the Bank is determined
                by
                the Director 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.

            

    

     

    
      	
            	
                
                f. 

            	
              Any
                payments made to employees pursuant to this Agreement, or otherwise,
                are
                subject to and conditioned upon their compliance with 12 U.S.C.
                §1828(k) and FDIC regulation 12 C.F.R. Part 359, Golden Parachute
                and
                Indemnification Payments. 

            

    

            

    
      
         

         

        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Agreement on the date first set forth
      above.

     

     

    
      	
               Attest:

            	 	
              EQUITABLE FINANCIAL
                CORP.

            
	 	 	 
	 /s/
              Joanne
              Roush Holmes	 	
              By:

            	 /s/ 
H.
              Lawrence Hanson
	
              

            	 	 	
              
H.
              Lawrence Hanson
	 	 	 	on
              behalf of the
              Board of Directors

    

     

    
      	
               Attest:

            	 	
              EQUITABLE
                BANK

            
	 	 	 
	 /s/
              Joanne
              Roush Holmes	 	
              By: 

            	/s/ H.
              Lawrence Hanson
	
              

            	 	 	
              
H.
              Lawrence Hanson
	
            	 	 	on
              behalf of the
              Board of Directors

    

     

    
      	
               Witness:

            	 	
              EXECUTIVE

            
	 	 	 
	/s/ Teresa
              Hartwig	 	
               

            	 /s/ Terry
              M. Pfeifer
	
              

            	 	 	
              
Terry
              M. Pfeifer
	 	 	 	 

    

    

    
      
        
        

      

      
        14Unassociated Document

    

    Consulting
      Agreement

    

    This
      Consulting Agreement (this "Agreement") is entered into as of January 25, 2006
      by and among Las Vegas Resorts Corporation ("LRC"), Winner Group Limited, a
      holding company organized under the laws of the Cayman Islands, (the "Winner"
      and collectively with LRC, "Winner"), and Heritage Management Consultants,
      Inc.,
      a corporation organized under the laws of South Carolina, USA (the
      "Consultant").

    

    RECITALS

    

    1.
      Consultant
      is willing to provide to Winner and its affiliated companies (collectively,
      the
      "Company") the consulting services identified in this Agreement.

    

    2.
      Winner
      is
      willing to engage Consultant as an independent contractor, and not as an
      employee, on the terms and conditions set forth herein.

    

    AGREEMENT

    

    In
      consideration of the foregoing and of the mutual promises set forth herein,
      and
      intending to be legally bound, the parties hereto agree as follows:

    

    1. Engagement.
      Winner
      hereby engages Consultant as an independent contractor.

    

    Heritage
      agrees to provide professional management services to assist the
      Company
      in
      meeting it obligations as a US publicly traded company. The activities typically
      associated with this engagement are:

    
      	·  	
              Provide
                the Company with two individual who will act in the role of company
                contract employees. These individuals with represent the Company
                as "Vice
                President of Strategic Planning" and "Senior Financial Analyst,"
                respectively. These executives will form the basis of the Company's
                executive presence in the USA. They will be part time, contracted
                employees who will support the following
                activities:

            

    

    
      	o  	
              Review,
                edit, and rewrite, if necessary, the Company's business
                plan.

            

    

    
      	o  	
              Define
                and document the Company's strategic direction, so as to position
                the
                Company as being different, unique and extraordinary to the Company's
                strategic stakeholders.

            

    

    
      	o  	
              Extract
                from the business plan and strategic direction a "strategic profile"
                of
                the Company. The "world of the public markets" must come
                to understand this strategic profile in a 20 minute
                presentation.

            

    

    
      	o  	
              Identify
                operating and financial plan issues that will be of concern strategic
                stakeholders, (institutional investors, the SEC, exchanges,
                and strategic vendors or customers.) Work with the Company to develop
                solutions to mitigate these issues.

            

    

    
      	o  	
              Visit
                the Company to obtain background information and to work with the
                Company
                to develop a successful public company
                strategy.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	o  	
              Develop
                a financial model for revenue projections that identify the keystone
                events, timetables and point by point construction of the Company's
                growth
                plans.

            

    

    
      	o  	
              Construct
                a detailed financial model for the business in the form required
                for
                effective fund raising and communication with the US investment community.
                These financial projections include projected Income Statement, Balance
                Sheet and cash flow projections. All schedules will interlock completely
                error free, and include all relevant ratios of import to
                investors.

            

    

    
      	o  	
              Represent
                the Company to investment banking firms, their bankers and their
                research
                analysts. .

            

    

    
      	o  	
              Conduct
                road show presentations to potential investors, with the Heritage
                executive serving as the VP of Strategic Planning serving as the
                presenter. Address objections and concerns from the investment
                community.

            

    

    
      	o  	
              Assist
                in the preparation of materials for investor conferences. Attend
                investor
                conferences as the Company's representative as
                needed.

            

    

    
      	o  	
              Hold
                on line presentation (e.g., Webex or MS NetMeeting) to potential
                investors, again with the Heritage executive serving as the VP of
                Strategic Planning acting as the
                presenter.

            

    

    
      	o  	
              Oversee
                the preparation and filing of an SB-2 registration on a timely basis.
                Coordinate responses to SEC comments to the registration
                statement.

            

    

    
      	o  	
              Put
                into place the requirements for a listing on
                NASDAQ:

            

    

    
      	§  	
              Recruit
                and independent members to serve on the Board of Directors
                

            

    

    
      	§  	
              Arrange
                for Directors and Officers insurance. Review alternative
                proposals and make recommendations to the
                Company.

            

    

    
      	§  	
              Oversee
                the NASDAQ application process.

            

    

    
      	o  	
              When
                appropriate, hold quarterly conference calls with the Company's
                investors.

            

    

    
      	o  	
              Schedule,
                coordinate and monitor preparation of the following items with
                the Company's attorneys, accountants, auditors, investor
                relations
                firm, etc. as needed:

            

    

    
      	§  	
              1934
                Act SEC filings, including Edgarization, including 10-K, 10-Q,
                8-K,

            

    

    
      	§  	
              SEC
                Form 3, Form 4, Form 5 for insider stock
                sales

            

    

    
      	§  	
              Proxy
                statement

            

    

    
      	§  	
              Annual
                report

            

    

    
      	§  	
              NASDAQ
                filings

            

    

    
      	§  	
              Quarterly
                stockholder reports

            

    

    
      	§  	
              Press
                releases

            

    

    

    
      	o  	
              Assist
                in preparation of materials for the Annual Stockholders Meeting,
                as
                needed.

            

    

    
      	o  	
              Develop
                a mechanism for orderly insider stock sales and
                reporting.

            

    

    
      	o  	
              Assist
                in the education of the Company's management on public company
                responsibilities

            

    

    
      	·  	
              Assist
                in the retention, replacement and negotiation with the service providers
                (such as IR firms, accountants, attorneys) as
                requested..

            

    

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    2. Term.
      This
      Agreement will commence on the date first written above, and unless
      modified
      by the mutual written agreement of the parties, shall continue for a period
      of
      one year.

    

    3. Compensation.

    

    a.  In
      consideration of the services to be performed by Consultant, Winner agrees
      to
      pay Consultant $175,000 U.S. dollars over the term of this Agreement. Payments
      will be made in four (4) equal installments at the beginning of each quarter
      of
      the engagement, in advance, starting with the execution date of this
      Agreement.

    

    b.  As
      further part of the consideration for Consultant's services, Consultant shall
      receive warrants (the "Warrants") to purchase two hundred thousand (200,000)
      shares of LRC's common capital, which warrants shall be delivered within one
      hundred eighty (180) days of the execution date of this Agreement. The exercise
      price of the warrants will be set at a price of $5.50 per share. The Warrants
      shall be assignable and transferable, shall include standard weighted average
      anti-dilution protection and unlimited piggyback registration rights, and will
      vest twelve (12) months after the date of this agreement. The Warrants expire
      3
      years after date of issue.

    

    c.  All
      out
      of pocket expenses incurred by Consultant's associates shall be reimbursed
      by
      the Company. All expenses in excess of $1000.00 shall be approved by the
      Company.

    

    4. Representations
      and Warranties.
      Consultant represents and warrants (i) that Consultant has no obligations,
      legal
      or otherwise, inconsistent with the terms of this Agreement
      or with Consultant's undertaking this relationship with the Company, (ii)
      that
      Consultant will not use in the performance of his responsibilities under this
      Agreement any confidential information or trade secrets of any other person
      or
      entity and (iii) that Consultant
      has not entered into or will enter into any agreement (whether oral or
      written)
      in
      conflict with this Agreement.

    

    5. Limited
      Liability.
      Consultant shall not be liable to the Company, or to anyone who may claim any
      right due to its relationship with the Company, for any acts or omissions on
      the
      part of the Consultant or the agents or employees of the Consultant in the
      performance of Consultant's services under this agreement. Winner shall hold
      Consultant free and harmless from any obligations, costs, claims, judgments,
      attorney's fees, or attachments arising from or growing out of the services
      rendered to the Company

     

    6. Indemnification.
      Winner
      agrees to indemnify and save harmless the Consultant,
      as well
      as Consultant's officers, employees, and agents from all suits, actions, losses,
      damages, claims, or liability of any character, type or description, including
      without limiting the generality of the foregoing all expenses of litigation,
      court costs, and attorney's fees arising out of or occasioned by the acts of
      Winner, its agents or employees, or occasioned by the acts of Consultant in
      the
      execution or performance of the services provided by the Consultant, at any
      time
      from the execution date of this Agreement until such time after any pertinent
      limitations period expires after the termination of this Agreement.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    

    As
      part
      of this indemnification, Winner agrees to defend and hold harmless Consultant
      from and against any and all liabilities arising from the consulting
      agreement.
      As such,
      Consultant shall not be liable to Winner, or to anyone who may claim any right
      due to its relationship with Winner, for any acts or omissions on the part
      of
      the Consultant or the agents or employees of the Consultant in the performance
      of Consultant's services under this agreement. Winner shall hold Consultant
      free
      and harmless from any obligations, costs, claims, judgments, attorney's fees,
      or
      attachments arising from or growing out of the services rendered to the
      Company.

    

    Consultant
      agrees to indemnify and save harmless Winner, as well as Winner's officers,
      employees, and agents from all suits, actions, losses, damages, claims, or
      liability of any character, type or description, including without limiting
      the
      generality of the foregoing all expenses of litigation, court costs, and
      attorney's fees arising out of or occasioned by the acts of Consultant, its
      agents or employees, at any time from the execution date of this Agreement
      until
      such time after any pertinent limitations period expires after the termination
      of this Agreement.

    

    As
      part
      of this indemnification, Consultant agrees to defend and hold
      harmless
      Winner
      from and against any and all liabilities arising from the consulting agreement.
      Consultant shall hold Winner free and harmless from any obligations, costs,
      claims, judgments, attorney's fees, or attachments arising from or growing
      out
      of the services rendered to Winner.

    

    6. Non
      Competition and Non Disclosure.
      Consultant agrees that for the term of this
      Agreement it shall not represent or provide services of any kind to any third
      party that either
      directly
      or
      indirectly engages in business operations similar to those undertaken
      by
      Winner.

    

    In
      addition, during the term of this Agreement and for a period of one
      year following
      the expiration thereof, Consultant shall keep confidential all non-
      public
      information regarding the business operations, financial condition, prospects,
      and customers of Winner that is obtained by Consultant while rendering the
      services contemplated hereby.

    

    7. Arbitration.
      Any
      controversy between the parties involving the construction or application of
      any
      of the terms, covenants, or conditions of this agreement shall, on the written
      request of one party served on the other, be submitted to arbitration. Each
      of
      the parties to this Agreement shall appoint one person as an arbitrator to
      hear
      and determine the dispute, and each party shall attempt in good faith to agree
      with the other as to a third arbitrator; if the parties should prove unable
      to
      agree in this way, then the two arbitrators already chosen shall select a third
      impartial arbitrator whose decision shall be final and conclusive. The expenses
      of arbitration shall be borne by the losing party or in such proportion as
      the
      arbitrators shall decide.

    

    8. Miscellaneous.
      If any
      action at law or in equity is necessary to enforce or interpret
      the terms of this Agreement, the prevailing party shall be entitled to
      reasonable attorney's
      fees, costs. This Agreement shall be binding on and inure to the benefit of
      the
      parties
      to it and their respective successors and assigns.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    9. Sole
      Agreement.
      This
      agreement supersedes any prior proposal, representation or
      understanding between the parties hereto.

     

    Executed
      as of the day and year first above written.

    

     

    
      	
              Las
                Vegas Resorts

               

               

              By:
                /s/ Jianquan Li

              ________________________________

              Jianquan
                Li

              Winner
                Group Limited

               

              By:
                /s/ Jianquan Li

              __________________________________

              Jianquan
                Li

            	
               

               

              Heritage
                Management Consultants, Inc.

               

               

              By:
                /s/ James Groh

              ____________________________

              James
                H. Groh, President

            

    

     

    

    
      
         

      

      
        5

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