Document:

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                                                                    EXHIBIT 10.3

                               MUTUAL SAVINGS BANK

                          EXECUTIVE EXCESS BENEFIT PLAN

<PAGE>   2

                               MUTUAL SAVINGS BANK

                          EXECUTIVE EXCESS BENEFIT PLAN

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>

                                                         Page
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<S>        <C>                                           <C>
Preamble

1.         Purpose                                        1

2.         Participation                                  1

3.         Benefits Upon Retirement                       1

4.         Pre-Retirement Death Benefits                  1

5.         Form of Payment                                2

6.         General Creditor Status                        3

7.         Nonassignment                                  3

8.         Government Regulations                         3

9.         Taxes                                          3

10.        No Right to Continued Employment               3

11.        Termination of Modification of Plan            4

12.        Claims Procedure                               4

13.        Review Procedure                               4

14.        Legal Fees and Expenses                        5
</TABLE>

<PAGE>   3
                                                                    EXHIBIT 10.3

                               MUTUAL SAVINGS BANK

                          EXECUTIVE EXCESS BENEFIT PLAN

Preamble

     The Mutual Savings Bank Executive Excess Benefit Plan is hereby amended
effective as of March 1, 1993 to read as follows:

1.   Purpose. The Executive Excess Benefit Plan (the "Excess Plan") is
     maintained by Mutual Savings Bank ("Mutual") for the purpose of providing
     retiree benefits for a select group of management or highly compensated
     employees within the meaning of Title I of the Employee Retirement Income
     Security Act of 1974, as amended. The objective of the Plan is to provide
     an incentive for key employees to remain in the service of Mutual by
     providing them with an increased retirement benefit.

2.   Participation. The term "Participant" as used herein refers to any employee
     of Mutual who shall have been designated by the Board of Directors of
     Mutual to be eligible as a Participant under the Excess Plan in accordance
     with the provisions hereof. Once an employee has been designated as a
     Participant, the Participant shall continue to earn benefits until his/her
     termination of employment.

3.   Benefits Upon Retirement. Upon the retirement or other termination of a
     Participant as an employee of Mutual, and/or its affiliates, such
     Participant shall be entitled to receive a monthly benefit equal to the
     excess of (a) over (b), if any, where:

     (a)  equals the Participant's accrued pension as would be computed as of
     the date of determination under the provisions of the Mutual Savings Bank
     Pension Plan, as the same may be amended from time to time, (the "Pension
     Plan") if there were no ceiling on compensation taken into account for
     purposes of the Pension Plan due to the requirements of IRC Section
     401(a)(17) and if there were no limitation on benefits under the Pension
     Plan due to the requirements of IRC Section 415, and

     (b)  equals the Participant's accrued pension, as of the date of
     determination, under the provisions of the Pension Plan.

4.   Pre-Retirement Death Benefits. Provided that a Participant is entitled to a
     monthly pre-retirement death benefit under

<PAGE>   4
     the Pension Plan, the Participant's beneficiary designated under the
     Pension Plan shall be entitled to a death benefit under this Excess Plan if
     the Participant dies prior to commencement of benefits hereunder. The
     amount of such monthly pre-retirement death benefit shall equal the excess
     of (a) over (b), if any, where:

     (a)  equals the pre-retirement death benefit, as would be computed as of
     the date of determination under the provisions of the Pension Plan if there
     were no ceiling on compensation taken into account for purposes of the
     Pension Plan due to the requirements of IRC Section 401(a)(17) and if there
     were no limitation on benefits under the Pension Plan due to the
     requirements of IRC Section 415, and

     (b)  equals the pre-retirement death benefit, as of the date of
     determination, under the provisions of the Pension Plan.

5.   Form of Payment. The pension to the Participant under this Excess Plan
     shall commence on the first of the month following the later of the
     Participant's 65th birthday or termination of employment. However, if the
     Participant terminates employment prior to age 65, his pension shall
     commence on the first of the month following his 65th birthday or at such
     earlier date following his termination of employment as is requested by the
     Participant and to which the Board of Directors of Mutual, in its
     discretion, agrees. If such earlier commencement is agreed to, such pension
     shall be subject to the same actuarial reductions for early payment as
     apply under the Pension Plan. The pension of the Participant hereunder
     shall be paid in the normal form applicable to the Participant under the
     terms of the Pension Plan; provided, however, if the Participant requests
     that payment be made in an alternative form available under the Pension
     Plan and the Board of Directors of Mutual, in its discretion, agrees, then
     the pension of the Participant hereunder shall be paid in such alternative
     form. If such alternative form of pension is paid, the amount of such
     alternative form of pension shall be calculated using the same actuarial
     equivalency factors in effect for the Participant under the Pension Plan.
     If the optional form of pension requested involves continued payment to a
     contingent annuitant following the death of the Participant, such payments
     shall be made to the contingent annuitant designated by the Participant at
     the time he requests such alternative form of payment in the amount and for
     the duration applicable under the form of payment requested.

          If the Participant dies prior to commencement of receipt of payments
     hereunder so that a Pre-Retirement Death Benefit is payable to the
     Participant's beneficiary as described in paragraph 4 above, such
     Pre-Retirement

                                      -2-

<PAGE>   5

     Death Benefit shall commence on the first of the month following the later
     of the Participant's 65th birthday or termination of employment. However,
     if the Participant dies prior to age 65, the Pre-Retirement Death Benefit
     shall commence on the first of the month following his 65th birthday or at
     such earlier date following his death as is requested by the Participant
     and to which the Board of Directors of Mutual, in its discretion, agrees.
     If such earlier commencement is agreed to, such Pre-Retirement Death
     Benefit shall be subject to the same actuarial reductions, if any, as apply
     under the Pension Plan.

6.   General Creditor Status. Nothing contained in this Excess Plan, and no
     action taken pursuant to the provisions of this Plan, shall create or be
     construed to create a funded obligation of any kind, or fiduciary
     relationship between Mutual and Participant, his/her designated beneficiary
     or any other person. Any funds which may be invested or assets which may be
     acquired by Mutual relating to this Excess Plan shall continue for all
     purposes to be a part of the general funds of Mutual and no person other
     than Mutual shall by virtue of the provisions of this Excess Plan have any
     interest in such funds or assets. To the extent that any person acquires a
     right to receive payment from Mutual under this Excess Plan, such right
     shall be no greater than the right of any unsecured general creditor of
     Mutual.

7.   Nonassignment. No benefit(s) under the Excess Plan, nor any other interest
     hereunder of any Participant or beneficiary shall be assignable,
     transferable, or subject to sale, mortgage, pledge, hypothecation,
     anticipation, garnishment, attachment, execution, or levy of any kind.

8.   Government Regulations. It is intended that the Excess Plan will comply
     with all applicable laws and governmental regulations, and Mutual shall not
     be obligated to perform an obligation hereunder in any case where, in the
     opinion of Mutual's legal counsel, such performance would result in
     violation of any law or regulation.

9.   Taxes. To the extent required by the law in effect at the time payments are
     made, Mutual shall withhold any taxes required to be withheld by the
     federal or any state or local government from payments made hereunder.

10.  No Right to Continued Employment. Participation in this Excess Plan, or any
     modifications thereof, or the payment of any benefit hereunder, shall not
     be construed as giving to the Participant any right to be retained in the
     service of Mutual, limiting in any way the right of Mutual to terminate the
     Participant's employment at any time, evidencing any agreement or
     understanding, express or implied, that Mutual will employ the Participant
     in any particular position or at any particular rate of

                                      -3-

<PAGE>   6

     compensation and/or guaranteeing the Participant any right to receive a
     salary increase or bonus in any year, such increase being granted only at
     the sole discretion of the Board of Directors of Mutual.

11.  Termination or Modification of Plan. The Board of Directors of Mutual shall
     have the right to terminate or modify the Excess Plan or the payments made
     to any persons under the Excess Plan at any time and from time to time;
     provided, however, that such termination shall not affect the benefit(s) of
     any Participant.

12.  Claims Procedure. If the Participant or the Participant's beneficiary
     (hereinafter referred to as a "Claimant") is denied all or a portion of an
     expected benefit under this Excess Plan for any reason, he or she may file
     a claim with the Compensation Committee of the Board of Directors of
     Mutual. The Compensation Committee shall notify the Claimant within 60 days
     of allowance or denial of the claim, unless the Claimant receives written
     notice from the Compensation Committee prior to the end of the sixty (60)
     day period stating that special circumstances require an extension of the
     time for decision. The notice of the Compensation Committee's decision
     shall be in writing, sent by mail to Claimant's last known address, and, a
     denial of the claim, must contain the following information:

          (a)  the specific reasons for the denial;

          (b)  specific reference to pertinent provisions of the Excess Plan on
               which the denial is based; and (c) if applicable, a description
               of any additional information or material necessary to perfect
               the claim, an explanation of why such information or material is
               necessary, and an explanation of the claims review procedure.

13.  Review Procedure. A Claimant is entitled to request a review of any denial
     of his claim by the Compensation Committee. The request for review must be
     submitted in writing within 60 days of mailing of notice of the denial.
     Absent a request for review within the 60-day period, the claim will be
     deemed to be conclusively denied. The Claimant or his representatives shall
     be entitled to review all pertinent documents, and to submit issues and
     comments orally and in writing.

     If the request for review by a Claimant concerns the interpretation and
     application of the provisions of this Excess Plan and Mutual's obligations,
     then the review shall be conducted by the entire Board of Directors. The
     Board shall afford the Claimant a hearing and the opportunity to review all
     pertinent documents and submit issues and comments orally and in writing
     and shall render a review

                                      -4-

<PAGE>   7

     decision in writing, all within sixty (60) days after receipt of a request
     for a review, provided that, in special circumstances (such as the
     necessity of holding a hearing) the Board may extend the time for decision
     by not more than sixty (60) days upon written notice to the Claimant. The
     Claimant shall receive written notice of the Board's review decision,
     together with specific reasons for the decision and reference to the
     pertinent provisions of this Excess Plan.

14.  Legal Fees and Expenses. It is the intent of Mutual that Participants not
     be required to incur the expenses associated with the enforcement of rights
     under this Plan because the cost and expense thereof would substantially
     detract from the benefits intended to be extended to Participants
     hereunder. Accordingly, if Mutual has failed to comply with any of its
     obligations under this Plan or in the event that Mutual or any other person
     takes any action of declare this Plan void or unenforceable, or institutes
     any legal action designed to deny, or to recover, the benefits intended to
     be provided to Participant hereunder, Mutual irrevocably authorizes the
     Participant to retain counsel of his choice, at the expense of Mutual as
     hereafter provided, to represent Participant in connection with the
     initiation or defense of any legal action, whether by or against Mutual or
     any Director, officer, shareholder or other person affiliated with Mutual,
     in any jurisdiction. Mutual shall pay and be solely responsible for any and
     all attorneys' and related fees and expenses incurred by Participant as a
     result of Mutual's failure to perform its obligations under this Plan or
     any provision thereof or as a result of Mutual or any person contesting the
     validity or enforceability of this Plan or any provision thereof as
     aforesaid. All such fees and expenses shall be paid, or reimbursed to
     Participant if paid by Participant, on a regular, periodic basis upon
     presentation by Participant to Mutual of a statement or statements prepared
     by such counsel in accordance with its customary practices.

                                      -5-

<PAGE>   8

                      RESOLUTIONS OF THE BOARD OF DIRECTORS
                                       OF
                     MUTUAL SAVINGS BANK OF WISCONSIN, S.A.

     WHEREAS, Mutual Savings Bank of Wisconsin, S.A. ("Mutual") currently
sponsors the Mutual Savings Bank of Wisconsin, S.A. Executive Excess Benefit
Plan (the "Plan"); and

     WHEREAS, Mutual desires to amend the Plan to provide benefits to persons
eligible under the Plan to replace benefits lost to such persons under Mutual's
tax qualified pension plan as a result of the limitations imposed by Internal
Revenue Code Section 401(a)(17) on compensation which may be taken into account
under the tax qualified pension plan;

     NOW, THEREFORE, BE IT RESOLVED that the restated Mutual Savings Bank of
Wisconsin, S.A. Executive Excess Benefit Plan (the "Plan") attached as Exhibit A
is hereby authorized and approved.

     FURTHER RESOLVED, that the appropriate officers of Mutual are hereby
authorized and directed to take any and all such actions as may be deemed
necessary or desirable in order to implement the foregoing resolutions.<PAGE>   1
                                                                    EXHIBIT 10.4

                                    AGREEMENT

     THIS AGREEMENT made and entered into this 16th day of May, 1988, at
Milwaukee, Wisconsin, by and between MUTUAL SAVINGS AND LOAN ASSOCIATION OF
WISCONSIN, hereinafter referred to as the Association, and MICHAEL T. CROWLEY,
hereinafter referred to as Crowley.

     WHEREAS, Crowley has served the Association as a valued employee and
officer for many years and is continuing to serve the Association; and

     WHEREAS, Crowley and the Association entered into an Agreement dated
October 9, 1967 pursuant to which Crowley agreed to continue providing full-time
services to the Association in consideration for the Association's promise of
payment of monthly income after his termination of employment; and

     WHEREAS, the payments to be made under the Agreement were based upon
payments which wold be made to the Association under an insurance contract,
Mutual of New York Policy 9332631 (the "Mutual Policy"), which it purchased at
the time it entered into the Agreement; and

     WHEREAS, the Association, by assignment to Manufacturer's Life Insurance
Company, has surrendered the Mutual Policy and used its proceeds to acquire a
new policy from the Manufacturer's Life Insurance Company which policy was
issued on September 16, 1983 as Certificate No. 3,670,650-5 (the "Manufacturer's
Policy"); and

     WHEREAS, Crowley and the Association desire to amend and restate the
original Agreement to reflect the benefits available to the Association under
the Manufacturer's Policy;

     NOW, THEREFORE, in consideration of the mutual promises of the Association
and Crowley, as herein expressed, it is agreed as follows:

     1.   Crowley will continue in the full-time employ of the Association,
          however, Crowley is not obligated by this Agreement to remain in (nor
          is the Association obligated to retain him in) such employment for any
          specified period of time.

     2.   Crowley will be paid for his services, in addition to his current
          salary, deferred compensation after his retirement or death, in such
          amounts and subject to such conditions as hereinafter expressed. The
          amounts to be paid to Crowley hereunder (and in certain circumstances
          to his beneficiaries hereunder) will be identical in amount to the
          amounts payable to the Association under the Manufacturer's Policy.
          All proceeds under the Manufacturer's Policy shall be payable to the
          Association and all incidents of ownership in such policy are to be
          solely vested in the Association, and it shall pay all premiums
          currently due

<PAGE>   2

          thereon. Neither Crowley nor his beneficiaries named herein nor any
          legal representative, shall at any time, acquire any right, title or
          interest in and to such policy, its proceeds or any other funds or
          assets of the Association.

     3.   (a)  Crowley may retire from the active full-time employment of the
          Association as of the 1st day of any month and, commencing with the
          date of actual retirement, the Association will pay him a life income
          in monthly installments with 240 months certain. Such monthly amounts
          shall be equal to the monthly amounts payable to the Association under
          the Manufacturer's Policy if it were to exercise the settlement option
          under the policy for monthly life income with a 240 month period
          certain with payments to commence as of the date of Crowley's
          retirement.

          (b)  In the event that Crowley dies before expiration of 240 months
          following retirement, the monthly payments for that 240 month period
          described in paragraph 3(a) that may be remaining, in the same amounts
          as would have been payable to Crowley, shall be then paid to his wife,
          Alice.

          (c)  In the event that Crowley dies prior to retirement, the
          Association will pay his wife, Alice, 240 monthly installments
          beginning the 1st day of the month following his death equal to the
          monthly amounts payable to the Association commencing at the same time
          under the Manufacturer's Policy if the Association were to elect a 240
          month certain payment option as the form of payment to be made to it
          under the policy in the event of Crowley's death prior to retirement.

          (d)  In the event that Alice Crowley should die before receiving the
          remainder of the 240 monthly installments described under whichever of
          paragraph (b) or (c) above is applicable, the remaining monthly
          payments shall then be paid in equal shares to the children of
          Crowley, namely, Margaret Mary and Michael T. Crowley, Jr., or to the
          survivor of them unless he or she has issue that survive him or her,
          in which case his or her share shall vest in his or her surviving
          issue, per stirpes.

     4.   (a)  At the request of Crowley, the Board of Directors of the
          Association may, in its absolute discretion, taking into account such
          factors as the Board considers relevant, including tax consequences or
          other business concerns relevant to the Association, in lieu of the
          payment to be provided under paragraph 3(a), provide a different form
          of payment to Crowley. The optional form of payment which the Board of
          Directors may, in its discretion, determine to make available in lieu
          of the form of payment described in paragraph 3(a) shall be selected
          from options available to the Association under the Manufacturer's
          Policy. The time and amount of payments payable to Crowley under this
          paragraph 4(a) would be the same as the time and amount of payments
          under the Manufacturer's Policy under

                                       2

<PAGE>   3

          the option actually selected by the Association at Crowley's request
          pursuant to this paragraph 4(a).

          (b)  In the event of Crowley's retirement and commencement of receipt
          of payments under a payment option selected under paragraph 4(a)
          above, the payment, if any, to Alice Crowley upon his death depends
          upon whether the payment option selected under paragraph 4(a) above
          provides for a payment or payments following the death of Crowley. For
          example, if Crowley were to request and the Board were to approve a
          lump sum distribution under paragraph 4(a), then, upon Crowley's
          death, nothing would be payable to Alice Crowley. In the event that
          the payment option selected under paragraph 4(a) above does provide
          for a continuing payment to Alice Crowley, whether upon her death any
          payments would continue to Margaret Mary and/or Michael T. Crowley,
          Jr., or their issue as described in paragraph 3(d) would depend on
          whether the payment option selected under paragraph 4(a) above
          provides for continuing payments upon the death of Alice Crowley. For
          example, if the option requested by Crowley and approved by the Board
          were a joint and survivor annuity form of payment based upon Crowley's
          life and the life of Alice Crowley, following the death of both
          Crowley and Alice Crowley, nothing would be payable to Margaret Mary
          or Michael T. Crowley, Jr. or their issue. The time and amount of
          payments, if any, under this paragraph 4(b) would be the same as the
          payments to the Association under the Manufacturer's Policy under the
          settlement option selected under paragraph 4(a) above in the event of
          the death of Crowley (and, following his death, the death of Alice
          Crowley).

          (c)  In the event of Crowley's death prior to retirement and upon the
          request of Alice Crowley, the Board of Directors of the Association,
          in its absolute discretion, taking into account such factors as it
          deems relevant, including tax consequences and business concerns
          relevant to the Association, may provide a different form of payment
          to Alice Crowley in lieu of the 240 monthly installment payments
          described in paragraph 3(c) above. The form of such payments to be
          provided shall be selected by the Board of Directors from one of the
          other payment options available under the Manufacturer's Policy in the
          circumstance of Crowley's death prior to retirement. The time and
          amount of payments under the paragraph 4(c) to Alice Crowley would be
          the same as the payments to the Association under the Manufacturer's
          Policy under the settlement option selected by the Board at Alice
          Crowley's request pursuant to this paragraph 4(c). In the event under
          the option selected by Alice Crowley continuing payments remain due
          after her death, such payments shall be continued in equal shares to
          Margaret Mary and Michael T. Crowley, Jr., or to the survivor of them
          unless he or she has issue that survives him or her, in which case,
          his or her share shall vest in his or her surviving issue, per
          stirpes; the time and amount of payments to such persons would be the
          same as the payments, if any, to the Association under the

                                       3

<PAGE>   4

          Manufacturer's Policy under the settlement option selected by the
          Board pursuant to this paragraph 4(c) upon the death of Alice Crowley.

     5.   In the event that both Crowley and Alice Crowley die prior to
          commencement of payments to either of them, the Association shall pay
          a single lump sum to be divided in equal shares to Margaret Mary and
          Michael T. Crowley, Jr. or to the survivor of them unless he or she
          has issue that survive him or her, in which case, his or her share
          shall vest in his or her surviving issue, per stirpes. The amount of
          the payment to be so divided shall be equal to what the Association
          would receive in a single lump sum under the Manufacturer's Policy as
          a result of the death of both Crowley and Alice Crowley prior to
          commencement of payments to either of them.

     6.   Crowley, during such period as he receives payments from the
          Association, shall not render services to or permit the use of his
          name by any other savings and loan association or other business
          engaged in a similar line of business as the Association or in
          competition with it.

          Crowley shall, during such period while receiving payments, be
          reasonably available for consultation by the Association's management
          and personnel which shall be in addition to any service, counsel and
          advice he may render to the Association as a member of its Board of
          Directors.

          In the event that Crowley fails to comply with the provisions hereof
          and this breach shall continue for a period of 30 days after notice in
          writing to cease or desist from the competition restricted above or to
          provide the consulting services as herein required, then the
          Association may suspend in whole or in part, one or more of his
          payments or discontinue them in their entirety, and the amount of any
          and all payments thus suspended or discontinued shall be forfeited.
          However, it shall not be considered a breach or violation of this
          Agreement if Crowley's failure to provide the consulting services, is
          due to reasons of health, including physical or mental infirmity, or
          if compliance with such condition would subject him to more than
          nominal expenses or loss of income.

     7.   Nothing in this Agreement shall prevent Crowley from receiving any
          monies that may be due him under any pension or other incentive plan
          of the Association now in effect or which may be hereafter adopted,
          nor any fees or reimbursement for his expenses that may be paid to him
          while serving as a member of the Board of Directors of the
          Association.

     8.   Neither Crowley nor his legal representative, wife or any other
          beneficiary shall have any right to commute, sell, assign, transfer or
          otherwise convey the right to receive any payments hereunder, which
          payments and the right thereto are

                                       4
<PAGE>   5

          expressly declared to be non-assignable and non-transferable, and in
          the event of any attempted assignment or transfer, the Association
          shall have no further liability hereunder.

     9.   This Agreement amends, restates and replaces the prior Agreement made
          between Crowley and the Association on October 9, 1967.

     10.  During the lifetime of Crowley, this Agreement may be amended or
          revoked at any time or times, in whole or in party, by the mutual
          written agreement of Crowley and the Association.

     This Agreement shall be binding upon the parties hereto, their heirs, legal
representatives or successors

     This Agreement executed in duplicate by Crowley and the Association on the
date first above written

                                        MUTUAL SAVINGS AND LOAN
                                        ASSOCIATION OF WISCONSIN

(Corporate Seal)

                                        By:   /s/ Eugene H. Maurer
                                           -------------------------------------

                                        Title:   Sr. Vice President/Finance
                                              ----------------------------------

                                        Attest:   /s/ Kenneth Zyperman
                                               ---------------------------------

                                        Title:   Secretary
                                              ----------------------------------

                                         /s/ Michael T. Crowley
                                        ----------------------------------------
                                        Michael T. Crowley

                                       5

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