Document:

10

Exhibit 10.2

SAHARA BUSINESS CENTER

OFFICE SERVICE AGREEMENT

This Executive Office Service Agreement is made on November 10,2014 between SAHARA Business Center (“SBC”) and Todex Corp. (“Tenant”) and hereby agrees as follows:

OFFICE SERVICES Tenant will use its space, SUITE 219 exclusively as an office and only for the business stated in this Agreement or subsequently agreed with us. The whole of the business remains SBC’s property and SBC retains legal possession and control of the Center and the office assigned to you. This Agreement is not a lease, rental agreement or any other interest in real properly. Tenant may not sublease, assign or encumber the space used by it. Tenant shall not use the office(s) for lodging, sleeping or any immoral or illegal purposes.

SBC agrees to offer the Services to Tenant described in EXHIBIT A. Lease will commence on the 10 day of November, 2014 for a period of month to month (the “Initial Term”).

OFFICE SERVICE FEES Tenant agrees to pay SAHARA Business Center during the term of this Agreement a Monthly Office Service Fee of $330 or otherwise stated in Exhibit A- Summary and Exhibits. Fees will be payable in advance and due on the first day of the month without notice. In addition to Office Service Fee, Tenant understands that certain Monthly Recurring Fees will be incurred as part of the services undertaken by Tenant. These Monthly Recurring Fees are set forth and calculated in EXHIBIT A. Tenant understands any additional charges may include, but will not be limited to charges for postage, shipping, copies, facsimiles, local and long distance charges, conference room usage administrative services, office setup fees, telephone/internet installation fees, applicable taxes and any other expenses incurred on Tenant’s behalf of SBC. The billing cycle for most Additional Charges will close on the last business day of each month and will be listed on the following months’ invoice.

LATE FEES If the Monthly Office Service Fee and other billed services charges are not paid by the 5th of the month, Tenant will pay a late fee of 10% of the outstanding invoice amount. Accepting a late payment will not result in a waiver of SAHARA Business Center’s right to declare a default the next time that the payment is late. If a tenant check is returned for any reason Tenant will pay an additional charge twenty-five dollars ($25.00) per returned check and, for the purposes of considering default and/or late charges, it will be as if the payment represented by the returned check had never been made. All payments to SAHARA Business Center must be in US certified funds. If payment has not been made after the 10th of the month, SBC has the right to deny Tenant access to the building and their office and will commence removal and storage of any and all effects and property of Tenant. SAHARA Business Center reserves the right to dispose of it any wav we chose without owing any responsibility for it or any proceeds of sale. Tenant may be required to pay all costs or such removal and for all fees associated with SBC s efforts to collect any sums due from under this Agreement, including but not limited to all attorney's fees and costs and removal of items from Tenant’s office.

REFUNDABLE DEPOSIT Upon delivery of this executed agreement, Tenant will pay SBC a Refundable Deposit equal to Monthly Office Service Fee of $330 Refundable Retainer will not be kept in a separate account from other funds of SAHARA Business Center and no interest will be paid to you on this amount. The Refundable Retainer may be applied to outstanding charges at any time at our discretion. We have the right to require that you replace retainer funds that we apply to your charges. At no time can the Refundable Deposit be used in lieu of Office Service Fee. At the end of the term of this Agreement, if Tenant has satisfied all payment obligations, SBC will refund this retainer within fourteen (14) days from date of vacancy.

SAFETY Tenant will not store or use anything which will create a fire or theft hazard, cause noise, create a smell, use abnormal amounts of electricity, create a nuisance, cause an increase in SAHARA Business Center's insurance premiums or cancellation of its insurance or offend SAHARA Business Center’s other tenants, No firearms shall be permitted. Tenant will not bring any animals other than seeing-eye dogs in SBC of blind persons into the office. Other than a personal computer, desktop printer, facsimile machine or small desktop appliances, Tenant will not bring any other office equipment or kitchen appliances onto the premises without written permission from SAHARA Business Center. Tenant shall not prop open any corridor doors, exit doors or door connecting corridors during or after business hours. All corridor, halls, elevators and stairways shall not be obstructed by Tenant or used for any purpose other than egress and ingress. Tenant can only use public areas with the consent of SAHARA Business Center and those areas must be kept neat and attractive at all times. Smoking is not permitted anywhere within the building containing the office.

SIGNAGE Tenant shall not affix anything to the windows or any other part of the office (s) or the Center or make alterations or additions to the offices or the Center without the prior written consent of SAHARA Business Center. No advertisements or identifying signs, other than provided by SAHARA Business Center, or other notices shall be inscribed, painted or affixed on any part of the corridors, doors of public areas.

SOLICITING Canvassing or soliciting other tenants for any business or other purposes in the common areas of the building is prohibited. Tenant may not conduct business in the hallways, reception areas or any other area except in its designated office(s) or conference rooms.

SPECIAL WIRING If Tenant requires any special installation or wiring for electrical use, telephone equipment or otherwise, such wiring shall be done at Tenant’s expense and with SAHARA Business Center’s written consent. Tenant will also be responsible for reverting back the installation upon vacancy.

OFFICE RELOCATION SAHARA Business Center reserves the right to move Tenant to another office within the facility of similar size and with similar amenities. SAHARA Business Center will give Tenant thirty (30) days advance notice of the move and will pay all costs associated with the move.

TENANT CONDUCT Tenant’s employees and guests shall conduct themselves in a businesslike manner, the noise level will be kept to a level so as not to interfere with or annoy other tenants and Tenant will abide by SAHARA Business Center directives regarding security, keys, building access cards parking ana other such matters common to all occupants. SAHARA Business Center reserves the right to make such other rules and regulations as in its judgment may from time to time be needed for the safety of tenants, care and cleanliness of the offices.

RENEWALS & MONTHLY RENEWALS Should tenant decide to renew a lease with SAHARA Business Center, a written notice of intent must be given at least thirty (30) days prior to lease expiration. If no notice is provided, the lease agreement will continue on a month-to-month term and will follow the same Agreement terms and conditions. At SBC's option, the Monthly Office Service may increase to current market value, or up to 5% each month. Tenant must also give thirty (30) days prior notice to vacate space. There will be no pro-rate for partial month use. If tenant chooses to relocate offices within SAHARA Business Center, tenant will be responsible for costs related to telephone, internet and fax activation.

TERMINATION Should tenant decided to vacate the premises upon lease termination, tenant must give a written notice of intent to vacate no later than thirty (30) days before the expiration of this Office Services Agreement, and vacate the premises at the end of the then current term. If the Tenant does not so advise SAHARA Business Center then the Office service Agreement win renew on a month-to-month term and fees may increase to current market value, up to 5%. Tenant will still be required to provide a thirty (30) day notice of intent to vacate thereafter. The fixed Monthly Office Service Fee will be due for the entire month and there will be no pro-rate tor a partial month use. A cleaning fee of $40 per office will be charged upon vacancy. All property belonging SAHARA Business Center will remain in the office. 

When this Agreement is terminated because the term has expired or otherwise, your right to occupy the Center is revoked. You agree to remove your personal property and leave the office as of the date of termination. If Tenant does not remove any personal property by the end of the term, Tenant shall be conclusively presumed to have conveyed and SAHARA Business Center reserves the right to dispose of it any way we chose without owing you any responsibility for it or any proceeds of sale. At SAHARA Business’ discretion, Tenant maybe required to pay all costs of such removal upon demand. Prior to Tenant vacating the office, we reserve the right to show the office(s) to prospective tenants and will use reasonable efforts not to disrupt your business. At the expiration of this Office Service Agreement, Tenant will promptly vacate the office(s) and surrender possession of the office(s) to SAHARA Business Center in the same condition as when first occupied by Tenant, normal wear and tear excepted to the office, turn in all Keys, building/ office access cards, and other items issued to tenant under this Agreement to the office, and provide SAHARA Business Center with a forwarding address and telephone number. Additional charges may apply if office requires cleaning and/or damage repair beyond normal usage as well as for furniture reconfiguration to restore offices back to their original condition and monies will be deducted from original deposit, You agree not to file a change of address form with the postal service as filing of a change of address form may forward all mail addressed to the Center to your new address. For a period of thirty (30) days after the expiration of this Agreement, SAHARA Business Center will provide your new phone number and address to all incoming callers during business operating hours and will hold or forward your mail, packages and facsimiles. Any postage fees incurred by forwarding will be billed to tenant and my be deducted from tenant deposit. After thirty (30) days you may request continuation of this service by signing up for a month-to-month Virtual Office Plan. SAHARA Business Center reserves the right not to renew or to terminate without notice Tenant’s Office Services Agreement for any violation of the terms and conditions of the Agreement or for conduct deemed grossly inappropriate or offensive to others as determined by SAHARA Business Center’s management and its officers.

INTERNET Monthly Office Service Fee includes Cable Internet Connection to office. Use of ‘Proxy” servers or other network sharing technologies for purposes of avoiding per user license fees is explicitly prohibited. The right to use the Internet Service is not transferable. Internet service and any other service provided by SAHARA Business Center may only be used for lawful purposes. Transmission or storage of any information data, or material in violation of any US Federal. State, or local law is prohibited. Tenant is prohibited from using the Internet access to transmit threatening material or transmit or receive obscene material. SAHARA Business Center has the right to suspend Cable Inter service at and time if tenant’s use violates these terms for Internet service use. SBC makes no warranties of any kina, whether expressed or implied for the service it is providing. SBC disclaims warranty of merchantability for any damages you suffer from loss of data resulting from delays, non-deliveries, misdeliveries, or service interruptions caused by its own negligence or your errors or omissions or due to in advertent release or disclosure of information sent to you. SBC is not responsible for your personal files residing on the Internet Building Service and has the right to delete all data, files or other information that is stored in your accounts, if your account is terminated, for any reason, by either you or SBC. You agree to indemnify and hold harmless SBC from any claims resulting from your use of the service which damages you or another party or parties.

BUILDING ACCESS SBC will supply swipe cards at an activation cost of $10 each per person. If an electronic access card is lost, Tenant must inform SBC immediately so that access to building can be terminated, and a new access card will be assigned and a $10 fee will be charged. Tenant shall not alter or tamper with any lock or install additional locks or bolts on any door. At the termination of this agreement, Tenant must return all access cards assigned, or a $10 fee will be charged for each missing access card; if not. monies can be deducted from Tenant's Refundable Deposit. 24/7 building access is available to full-time office tenants of the Center via Security Access Card. After hour’s usage of Business Center and conference rooms available upon request. Should Tenant be default of the terms and conditions of this Agreement for any reason, SAHARA Business Center has the right to revoke access without notice. Tenant shall close and securely lock all doors and shut off lights and other electrical apparatus upon departure. Any damage resulting from failure to do so shall be paid by Tenant.

HOLIDAYS SBC and the Business Center will be closed on the following holidays: New Year's Day, Presidents Day, Memorial Day, Independence Day Labor Day, Veterans Day, Thanksgiving Day, Family Day (observed the Friday after Thanksgiving Day) and Christmas Day. lf any holiday should fall on a Saturday, the holiday will be observed on the Monday after the holiday. A half day will be observed on Christmas Eve Day and New Year's Eve, SBC Staff will be from 9:30am-1pm. On all other holidays, although SBC Staff will not be in the building, the Business Center will be accessible to the Tenants. SBC reserves the right to modify the holiday schedule and will inform Tenants in advance if changes are made.

PARKING Unassigned, surface parking on the West side of the building is available to all tenants and their guests. Should covered parking become available, tenants may request a covered parking space at an additional cost to be determined at that time.

BUSINESS LICENSE Tenant may choose to provide SBC with a copy of their business license to keep on file.

FURNITURE Standard workstation office furniture package(s) as designed by SAHARA Business Center is included in certain designated offices. All furniture supplied to Tenant through its exclusive use will remain at SAHARA Business Center at the expiration of this Agreement in the same condition as first delivered to Tenant, normal wear and tear accepted. If any repairs become necessary, SAHARA Business Center will cause the repairs to be made and, if repairs are necessitated by Tenant’s misuse or abuse, the repair charges will be billed to Tenant's account and may be taken from Tenants’ deposit. Tenant is not authorized to order any repairs or to make any repairs itself. Tenant shall not remove SAHARA Business Center owned furniture, fixtures or decorative materials from the office(s) or building. Tenant agrees to use chair mats under the Executive Chairs and any damage from failure to use same shall be the responsibility of Tenant

SAHARA BUSINESS CENTER EMPLOYEES While your agreement is in force and for a period of six (6) months after it ends, you must not solicit or offer employment to any of our current employees, in the event of a breach of any obligation of Tenant contained in this paragraph. Tenant shall be liable to SBC for, and shall pay to SBC on demand, liquidated damages in the sum of six months of the employees’ salary, to be determined at the time of recruitment.

INVOICE BILLING DISPUTES All billing questions or charges Tenant wishes to dispute must be brought to SAHARA Business Center management’s attention within ninety (90) days of the invoice date for consideration. All efforts will be made by SAHARA Business Center to explain charges and resolve the dispute within 30 days. Tenant agrees to pay all undisputed charges in accordance with the terms and conditions or this Agreement. No adjustments will be made to invoices beyond ninety (90) days of the invoice date.

DEFAULT Tenant is in default under this Office Services Agreement if (a) Failure of Tenant to pay its Monthly Office Services Fee and Additional Charges when due and such default is not cured within five (5) business days of the due date;

 (b) Tenant does not comply with the terms and conditions of this Office Services Agreement: (c) or Tenant is not in compliance with any local, e, or federal law, statute or regulation c) The permanent departure from Accommodation by Tenant, which shall be defined as any period of non-use for thirty (30) days. In the event of such default. SAHARA Business Center will provide Tenant with written notice of such default and Tenant shall have ten (10) business days to cure such default. In the event that Tenant fails to cure any such default in the time period set forth herein, SAHARA Business Center shall have the option, without additional notice, to terminate this Office Services Agreement. In addition, in the event of default, SAHARA Business Center shall have the option to apply the Refundable Deposit to any outstanding sums owed under this Offices Services Agreement. In the event of default, Tenant will be liable for collection's fee and attorney's fees and expenses incurred by both collection agency or attorney and any other costs incurred by SAHARA Business Center as a result of the default.

ANNUAL INCREASE For Tenant Agreements of more than twelve (12) months. Tenant agrees that SBC can increase the Office Service Fee under this Agreement every twelve Г12) months to current market rate, up to 5%, whichever is greater. For Tenant Agreements less than twelve months, Tenant understands that SBC makes no representations or warranties regarding any increase in service rates upon termination or conclusions of the term.

LIMITATION OF LIABILITY Services provided pursuant to this Office Service Agreement are without warranty. Tenant’s sole remedy, and SBC’s sole obligation, for any failure to render any service, any error or omission, or any delay or interruption with respect thereto, is limited to an adjustment to Tenant’s billing in an amount equal to the charge for such services for the period during which the failure, delay, or interruption continues. Tenant expressly and specifically agrees to waive, and agrees not to make, any claim for damages, direct, indirect or consequential, including with respect to lost business or profits, arising out of any failure to furnish any service provided hereunder, any error or omission with respect thereto, or any delay or interruption of services. As to the services provided hereunder, any error or omission with respect thereto, or any delay or interruption of services. As to the services provided hereunder, SAHARA Business Center makes no express or implied warranty of merchantability or fitness for a particular purpose. In the event a dispute arises under this Office Services Agreement, Tenant agrees to submit the dispute to mediation. If mediation does not resolve the dispute, Tenant agrees that the matter will be submitted to arbitration pursuant to the procedure established by the American Arbitration Association. The decision of the arbitrator will be biding on the parties The non-prevailing party as determined by the arbitrator shall pay the prevailing party’s attorney's fees and costs of the arbitration. Furthermore, if a court decision prevents or SAHARA Business Center elects not to submit this matter to arbitration, then the non-prevailing party as determined by the court shall pay the prevailing party’s reasonable attorney’s fees and costs.

SAHARA BUSINESS CENTER LIABILITY Tenant agrees that SBC is not liable to Tenant for: (a) loss or damage to any document or other article by the US Postal Service, or any other licensed, common or private carrier delivery service; or loss or damage arising out of services provided by any telephone or internet SBC; (b) any personal or property injury or damage resulting from the acts or omissions of SBC employees, persons renting office space, conference rooms or services from SBC, their invitees, other persons occupying any part of or employed in the building of which SBC premises area a part, or their invitees, or for any injury or damage to persons or property caused by any person, except as any such loss or damage arises from willful or grossly negligent misconduct by SBC, its agents, or employees. In addition, SBC is not responsible for any loss as a result of our failure to provide a service as a result of a mechanical breakdown strike, delay, failure of team termination of our interest in the building unless we do so deliberately or are grossly negligent. We are also not liable for any failure until you have informed us in writing and given us reasonable time to correct it.

INSURANCE Tenant understands that the liability/property insurance carried by SBC does not insure against loss, damage, casualty or theft of or to any of Tenant’s business or personal property, wherever situated on or around Accommodation or the Business Center. It is the Tenants’ responsibility to provide insurance for their own property to which they bring to the business center and for their own liability to their employees and to third parties. SBC will not be responsible for any damage to Tenants personal belongings.

NOTICES Any notice under this Office Services Agreement will be in writing and will be sent via regular mail, email, certified mail with return receipt requested, or by an expedited service that provides proof of delivery based on the urgency of such notice to the last address of the party to whom notice is to be given, as designated by such party in writing.

IDEMNITY If a claim is made against SAHARA Business Center because of any action or inaction on the part of Tenant or its guests, customers, tenants, invitees or visitors, Tenant will immediately indemnify SAHARA Business Center and hold it harmless from those claims or causes of action. This indemnity includes not only the amount of any such claim, but also all of SAHARA Business Center’s costs in investigating and defending those claims in dealing with those claims as well as SAHARA Business Center's reasonable attorney's fees and costs of court. Further, in the event that any of SAHARA Business Center’s employees travel off-premises at the request of Tenant and that travel results in damages or exposes SAHARA Business Center to liability, then Tenant will indemnify SAHARA Business Center and hold it harmless from any such claims or damages. Tenants of SAHARA Business Center under this Office Services Agreement are advised to carry insurance to cover their own personal property and liability coverage(s).

NON-DISCLOSURE AGREEMENT Tenant shall not disclose monthly room rates or share any information regarding tenant’s room rate with any other occupying tenants.

GUARANTOR A guarantor is liable for all sums due under this Office Services Agreement, any extensions, and addenda executed contemporaneously with this Office Services Agreement, and for any other sums due from Tenant to SAHARA Business Center, no matter when or how incurred. SAHARA BUSINESS CENTER does not have to attempt collection from Tenant before proceeding against Guarantor. Guarantor will not be released unless SAHARA Business Center specifically releases Guarantor in writing signed by SAHARA Business Center. SAHARA BUSINESS CENTER reserves the right to deduct the current outstanding balance plus 3% penalty from the supplied credit card information in the event of delinquency without written notice. Any tenant may self guarantee themselves by providing a credit card on file. A separate credit card authorization form will be filed by tenant or guarantor.

This lease is standard for all tenants. Any modifications or amendments listed in Exhibit A supersede this lease.

SAHARA Business Center hereby designates its address as:

1810 East Sahara Avenue

Las Vegas, Nevada 89104

Telephone: 702.727.3886   Facsimile: 702.369.1290

ATTN: Jason Chang, property manager

Email: jason@saharabc.com

Initial /S/ VE

1

Sahara Business Center 1810 E Sahara Ave Las Vegas NV 89104 (p) 702.727.3886 (f) 702.369.1290

SAHARA BUSINESS CENTER

SERVICES PROPOSED

Services Included*

•

24 hour access

•

Month to month rental agreements

•

High speed internet

•

Wi-Fi throughout building

•

Lobby with waiting area and check-in counter

•

Live receptionist in lobby during business hours

•

Mail receiving

•

Shipping service & package handling

•

Eight (8) hours use of first floor conference

•

room or day office per month

•

Utilities & Central Air

•

Company name listed on building directory (upon availability)

•

On-site management

•

Kitchen with complimentary coffee & water service

•

Access to community copier & printer on first floor

•

100 complimentary b/w copies per month

•

Unlimited scanning

•

Unlimited outgoing & incoming faxes

•

Incoming fax delivery via email

•

Free on-site notary service

Optional Services

Covered parking

$35 per month

Postage & shipping services

20% over cost

Keycards

$10 each

Copies (in excess of complimentary)

5¢ Black & White

15¢ Color

Personalized door sign

$25 (upon availability)

Conference Room (in excess of complimentary)

$30/hour

$100/4hrs/day $150/full day

Day Office (in excess

of complimentary)

$20/hour

$60/4hrs/day

Service Fee

Carpet Cleaning Fee (charged upon departure)

$40

per

room

*Sahara Business Center reserves the right to make changes or adjustments to these services at management’s discretion

Initial /S/ VE

2

Sahara Business Center 1810 E Sahara Ave Las Vegas NV 89104 (p) 702.727.3886 (f) 702.369.1290

Sahara Business Center

Exhibit A - Summary of Services

               

                     COMPANY NAME     Todex Corp.

                                    

				
	Tenant Name

	Vladislav Ermolovich

	Billing Name

	Same as tenant

	Address

	4370 El Antonio PI.

	Address

	 

	Address 2 

	 
	Address 2 

	 

	City

	Las Vegas

	City

	 

	State & ZIP

	Nevada 89121

	State & ZIP

	 

	Contact Phone

	702-401-8308

	Contact Phone

	 

	Cell Phone

	 
	Cell Phone

	 

	Fax Number

	 
	Fax Number

	 

	E-mail

	Todexcorp@yandex.com

	E-mail

	 

									
	 
	Office#

	219

	Term

	MTM

	Commencement Date

	11/10/2014

	Termination Date

	TBD

	

FIXED MONTHLY RECURRING FEES

	 
	 
	 
	 
	 
	 

	Room Rate

	 
	 
	 
	 
	 
	 
	 
	$330

	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	

TOTAL TO BE BILLED MONTHLY

	$330

	 
	 
	 
	 
	 
	 
	 
	 

	FIRST MONTH RENT, PRORATED 11/10/14-11/30/14

	 
	 
	$231

	SETUP FEES                         Includes one keycard activation

	 
	 
	$0

	REFUNDABLE DEPOSIT                          Equal to One Month's Rent

	 
	 
	$330

	Will be refunded within 14 days from date of vacancy if all other payment obligations have been met

	 

	TOTAL AMOUNT DUE UPON MOVE-IN

	$561.00

SAHARA BUSINESS CENTER LEASE AGREEMENT

ALL PARTIES HAVE READ AND UNDERSTAND THIS OFFICE SERVICES AGREEMENT AND AGREE TO ALL TERMS AND CONDITIONS.

SAHARA BUSINESS CENTER 

Prepared by: Jason Chang

Signed _/S/ Jason Chang

Date:

November

10.2014

Title: Property Manager

ТENANT & GUARANTOR:

Signed /S/ Vladislav Ermolovich

Name (Printed): Vladislav Ermolovich

Title: Mr.           Date 11/10/14

GUARANTOR, if different from tenant:

Signed ______________________________________________

Name (Printed): ______________ Date ____________________ 

Endnotes

$100/full day

BILLING

Invoiced

via

Email

Initial /S/ VE

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Sahara Business Center 1810 E Sahara Ave Las Vegas NV 89104 (p) 702.727.3886 (f) 702.369.1290EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of the 18th day
of March, 2015, by and between HopFed Bancorp, Inc. (the “Company”) and Paul Michael Foley III (the “Employee”). 

WHEREAS, the Employee and the Company acknowledge and agree that this Agreement shall supersede all prior agreements and understandings
(whether written or oral) between the Company and the Employee with respect to the subject matter herein; and 
 WHEREAS, the Employee
currently serves in a position of substantial authority with Heritage Bank USA, Inc. (the “Bank”), a subsidiary of the Company; and 

WHEREAS, the Company desires to ensure the Employee’s services with the Company and the Bank for the term of this Agreement; and 

WHEREAS, the Employee is willing to continue to serve in the employ of the Bank and to be employed by the Company on the terms and conditions
set forth below, and the Board of Directors of the Company (the “Board”) has determined that such terms and conditions are reasonable and in the best interests of the Company. 

NOW, THEREFORE, it is AGREED as follows: 

1. Employment. The Employee is hereby employed by the Company as its Senior Vice President, Chief Credit Officer. The Employee shall
also promote, by entertainment or otherwise, as and to the extent permitted by law, the business of the Company and the Bank. 
 2.
Consideration from Company; Joint and Several Liability. In lieu of paying the Employee a base salary or any other benefits, including severance benefits, due under this Agreement during the term of this Agreement, the Company hereby agrees
that to the extent permitted by law, it shall be jointly and severally liable with the Bank, for the payment of all amounts due under the amended and restated employment agreement of even date herewith between the Bank and the Employee (the
“Bank Agreement”), and there shall be no duplication of benefits under this Agreement and the Bank Agreement. 
 3.
Discretionary Bonuses. The Employee shall participate in an equitable manner with all other senior management employees of the Company in discretionary bonuses that the Board may award from time to time to the Company’s senior management
employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee’s right to participate in such discretionary bonuses. 

4. (a) Participation in Retirement; Medical and Other Plans. The Employee shall be entitled to participate in any plan that
the Company maintains for the benefit of its employees if the plan relates to (i) pension, profit-sharing, or other retirement benefits, (ii) medical insurance or the reimbursement of medical or dependent care expenses, or (iii) other
group benefits, including disability and life insurance plans. 

 (b) Employee Benefits. The Employee shall participate in any fringe benefits that are or
may become available to the Company’s senior management employees, including, for example: any stock option or incentive compensation plans and any other benefits that are commensurate with the responsibilities and functions to be performed by
the Employee under this Agreement. 
 (c) Expenses. The Employee 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 the policies of the Company. 

5. Term. The Company hereby employs the Employee, and the Employee hereby accepts such employment under this Agreement, for the period
commencing on the date hereof and ending June 30, 2018 (or such earlier date as is determined in accordance with Section 9 hereof). Additionally, prior to July 1 of each year beginning in 2016, the Employee’s term of employment
and this Agreement shall be extended for an additional one-year period beyond the then effective expiration date; provided, however, that the Compensation Committee of the Board determines in a duly adopted resolution that the performance of the
Employee has met the Board’s requirements and standards and that the term of this Agreement shall be extended. Prior to July 1 of each such year, the Compensation Committee and the Board shall meet to review the Employee’s performance
and determine whether the term of this Agreement shall be extended. By written notice, the Board or the Chief Executive Officer will inform the Employee no later than July 1 whether the Board has determined to extend the term of this Agreement,
and if the Employee is not so notified, the term of this Agreement shall be deemed to have been extended. 
 6. Loyalty; Full Time and
Attention. 
 (a) During the period of his employment hereunder and except for illness, reasonable vacation periods, and reasonable
leaves of absence, the Employee shall devote all his full business time, attention, skill, and efforts to the faithful performance of his duties hereunder to the Company and its subsidiaries; provided that, from time to time, the Employee may serve
on the board of directors of, and hold any other offices or positions in, companies or organizations, that will not present any conflict of interest with the Company or any of its subsidiaries or affiliates, or unfavorably affect the performance of
Employee’s duties pursuant to this Agreement, or will not violate any applicable statute or regulation. “Full business time” is hereby defined as that amount of time usually devoted to like companies by similarly situated executive
officers. During the term of his employment under this Agreement, the Employee shall not engage in any business or activity contrary to the business affairs or interests of the Company, or be gainfully employed in any other position or job other
than as provided above. 
 (b) Nothing contained in this Section 6 shall be deemed to prevent or limit the Employee’s right to
invest in the capital stock or other securities of any business dissimilar from that of the Company, or, solely as a passive or minority investor, in any business. 

7. Standards. The Employee shall perform his duties under this Agreement in accordance with such reasonable standards as the Board may
establish from time to time. The Company will provide the Employee with the working facilities and staff customary for similar executive officers and necessary for him to perform his duties. 

  
 2 

 8. Vacation and Sick Leave. The Employee shall be entitled, without loss of pay, to absent
himself voluntarily from the performance of his duties under this Agreement in accordance with the terms set forth below, all such voluntary absences to count as vacation time; provided that: 

(a) The Employee shall be entitled to an annual vacation in accordance with the policies periodically established by the Board for senior
management employees of the Company. 
 (b) The Employee shall not receive any additional compensation from the Company on account of his
failure to take a vacation, and the Employee shall not accumulate unused vacation from one fiscal year to the next, except in either case to the extent authorized by the Board. 

(c) In addition to the aforesaid paid vacations, the Employee shall be entitled, without loss of pay, to absent himself voluntarily from the
performance of his employment obligations with the Company for such additional periods of time and for such valid and legitimate reasons as the Board may in its discretion approve. Further, the Board may grant to the Employee a leave or leaves of
absence, with or without pay, at such time or times and upon such terms and conditions as the Board in its discretion may determine. 
 (d)
In addition, the Employee shall be entitled to an annual sick leave benefit as established by the Board. 
 9. Termination and
Termination Pay. Subject to Section 11 hereof, the Employee’s employment hereunder may be terminated under the following circumstances: 

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

(b) Disability. The Company may terminate the Employee’s employment after having established, through a determination by the
Board, the Employee’s Disability. For purposes of this Agreement, “Disability” means a physical or mental infirmity that impairs the Employee’s ability to substantially perform his duties under this Agreement and that results in
the Employee becoming eligible for long-term disability benefits under the Company’s long-term disability plan (or, if the Company has no such plan in effect, that impairs the Employee’s ability to substantially perform his duties under
this Agreement for a period of 180 consecutive days). The Employee shall be entitled to the compensation and benefits provided for under this Agreement for (i) any period during the term of this Agreement and prior to the establishment of the
Employee’s Disability during which the Employee is unable to work due to the physical or mental infirmity, or (ii) any period of Disability that is prior to the Employee’s termination of employment pursuant to this Section 9(b);
provided, however, that any benefits paid pursuant to the Company’s long-term disability plan will continue as provided in such plan. 

(c) For Just Cause. The Board may, by written notice to the Employee, immediately terminate his employment at any time, for Just Cause.
The Employee shall have no 

  
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right to receive compensation or other benefits for any period after termination for Just Cause. Termination for “Just Cause” shall mean termination because of, in the good faith
determination of the Board, the Employee’s personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation
(other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement. Notwithstanding the foregoing, the Employee shall not be deemed to have been terminated for Just Cause unless
there shall have been delivered to the Employee a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the entire membership of the Board (excluding the Employee if a member of the Board) at a meeting of the Board
called and held for that purpose (after reasonable notice to the Employee and an opportunity for the Employee to be heard before the Board), finding that in the good faith opinion of the Board the Employee was guilty of conduct set forth above in
the second sentence of this Section 9(c) and specifying the particulars thereof in detail. 
 (d) Without Just Cause. The Board
may, by written notice to the Employee, immediately terminate his employment at any time for any reason; provided that, if such termination is for any reason other than pursuant to Sections 9(a), (b) or (c) above, the Employee shall be
entitled to receive the Employee’s “Base Salary” as of the date of termination and as defined in Bank Agreement, up to the date of expiration of the current term (including any renewal term then in effect) of this Agreement. Said sum
shall be paid in one lump sum within 10 days of such termination. 
 (e) Voluntary Termination by Employee. The Employee may
voluntarily terminate employment with the Company during the term of this Agreement, upon at least 60 days’ prior written notice to the Board, in which case the Employee shall receive, only his compensation, vested rights and employee benefits
accrued up to the date of his termination. 
 10. No Mitigation. The Employee 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 the Employee in any subsequent employment. 

11. Change in Control. 

(a) Notwithstanding any provision herein to the contrary, if the Employee’s employment under this Agreement is terminated by the Company,
without the Employee’s prior written consent and for a reason other than for Just Cause, death or disability, or the Employee resigns for Good Reason in connection with or within 12 months after any change in control of the Bank or the Company,
the Employee shall be paid an amount equal to 2.9 times the Employee’s “Base Salary” as of the date of termination and as defined in Bank Agreement. Said sum shall be paid in one lump sum within 10 days of such termination. The term
“change in control” shall mean (1) a change in the ownership, holding or power to vote more than 25% of the Bank’s or the Company’s voting stock, (2) a change in the ownership or possession of the ability to control the
election of a majority of the Bank’s or the Company’s directors, or (3) a change in the ownership or possession of the ability to exercise a controlling influence over the management or policies of the Bank or the Company by any
person or by persons acting as a “group” (within the meaning of Section 13(d) of the Securities Exchange Act of 1934) (except 

  
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that, in the case of (1), (2) and (3) hereof), ownership or control of the Bank or its directors by the Company itself shall not constitute a change in control. The term
“person” means an individual other than the Employee, or a corporation, partnership, trust, association, joint venture, pool, syndicate, sole proprietorship, unincorporated organization or any other form of entity not specifically listed
herein. Termination by the Employee for “Good Reason” as used herein shall mean termination by the Employee based on: (1) without the Employee’s express written consent, a material reduction by the Company of the Employee’s
Base Salary as the same may be increased from time to time; (2) without the Employee’s express written consent, a material diminution in the Employee’s authority, duties, or responsibilities; (3) a material diminution in the
authority, duties or responsibilities of the supervisor to whom the Employee is required to report; (4) the principal executive office of the Company is relocated more than thirty (30) miles from Hopkinsville, Kentucky, or the Company requires
the Employee to be based anywhere other than an area in which the Company’s principal executive office is located, except for reasonably required travel on behalf of the business of the Company; or (5) the failure by the Company to obtain
the assumption of and agreement to perform this Agreement by any successor as contemplated in Section 13(a) hereof. The Employee must provide written notice to the Company or its successor of the existence of the condition that constitutes Good
Reason within 90 days of the initial existence of such condition. The Company shall have 30 days after receipt of such notice to remedy the condition, and, if remedied, the Employee shall not be entitled to be paid the benefits described in this
Section 11 in connection with the Employee’s termination of employment. 
 (b) Notwithstanding any contrary provision in this
Agreement, in the event that it shall be determined (as hereinafter provided) that any payment or distribution by the Company, the Bank, or any of their subsidiaries to or for the benefit of Employee, whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise pursuant to or by reason of any other agreement, policy, plan, program or arrangement including, without limitation, any restricted stock or similar right or the lapse or termination
of any restriction on, or the vesting or exercisability of, any of the foregoing (the “Total Payment”), would be subject, but for the application of this Section 11(b), to the excise tax imposed by Section 4999 of the Internal
Revenue Code of 1986, as amended (the “Code”), or any successor provision thereto (the “Excise Tax”), by reason of being considered “contingent on a change in ownership or control” of the Company, within the meaning of
Code Section 280G(b)(2), or any successor provision thereto, then 
 (i) if the After-Tax Payment Amount would be greater by reducing
the amount of the Total Payment otherwise payable to Employee to the minimum extent necessary (but in no event less than zero) so that, after such reduction, no portion of the Total Payment would be subject to the Excise Tax, then the Total Payment
shall be so reduced; and 
 (ii) if the After-Tax Payment Amount would be greater without the reduction then there shall be no reduction in
the Total Payment. 
 As used in this Section 11(b), “After-Tax Payment Amount” means (i) the amount of the Total
Payment, less (ii) the amount if federal income taxes payable with respect to the Total Payment calculated at the maximum marginal income tax rate for each year in which the Total Payment shall be paid to Executive (based upon the rate in
effect for such year as set forth in the Code at the time of the Total Payment), less (iii) the amount of the Excise Tax, if any, 

  
 5 

 
imposed on the Total Payment. For purposes of any reduction made under this Section 11(b), the portion of the Total Payment that shall be reduced shall be those that provide Employee the
best economic benefits, and to the extent any individual components of the Total Payment are economically equivalent, each shall be reduced pro rata. 

(c) In the event that any dispute arises between the Employee and the Company as to the terms or interpretation of this Agreement, including
this Section 11, whether instituted by formal legal proceedings or otherwise, including an action that the Employee takes to enforce the terms of this Section 11 or to defend against any action taken by the Company, the Employee shall be
reimbursed for all costs and expenses, including reasonable attorneys’ fees, arising from such disputes or proceedings, provided that the Employee shall have obtained a final judgment by a court of competent jurisdiction in his or her favor.
Such reimbursement shall be paid within 10 days of the Employee’s providing the Company with written evidence, which may be in the form, among others, of a canceled check or receipt, of any costs or expenses incurred by the Employee. 

12. Non-Interference. Upon termination of employment other than in connection with or within 12 months after any change in control of
the Company or the Bank (as defined in Section 11(a)), the Employee agrees that the Employee will not initiate contact with any of the employees of the Company or the Bank with whom he had contact during the course of his employment with the
Company for the purpose of soliciting such employee for hire, whether as an employee or independent contractor, or otherwise, disrupting such employee’s relationship with the Company or the Bank. 

13. Successors and Assigns. 

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

(b) Since the Company is contracting for the unique and personal skills of the Employee, the Employee shall be precluded from assigning or
delegating his rights or duties hereunder without first obtaining the written consent of the Company. 
 14. 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. 

15. Applicable Law. This Agreement shall be governed in all respects, whether as to its validity, construction, capacity, performance
or otherwise, by the laws of the Commonwealth of Kentucky, except to the extent that Federal law shall be deemed to apply. 
 16.
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. 

  
 6 

 17. Entire Agreement. This Agreement, together with any understanding or modifications
thereof as agreed to in writing by the parties, shall constitute the entire agreement between the parties hereto. 
 18.
Section 409A of the Internal Revenue Code. The severance payments provided in this Agreement are intended to qualify as short-term deferrals under Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations
and guidance thereunder. 
 19. Required Regulatory Provision. Notwithstanding any other provision of this Agreement to the contrary,
any payments made to the Employee pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C. Section 1828(k) and FDIC Regulation 12 CFR Part 359, Golden Parachute and Indemnification Payments.

  
 7 

 IN WITNESS WHEREOF the parties have executed this Agreement on the day and year first above
written. 
  

									
	ATTEST:				HOPFED BANCORP, INC.
					
	 /s/ Michael L. Woolfolk
						By:		 /s/ John E. Peck

	Secretary						John E. Peck, President and Chief Executive Officer
			
	WITNESS:				EMPLOYEE
				
	 /s/ Angela Ford
						 /s/ P. Michael Foley

							Paul Michael Foley III

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