Document:

INTEGRATED ELECTRICAL SERVICES, INC.

2006 EQUITY INCENTIVE PLAN

RESTRICTED STOCK AWARD AGREEMENT

               THIS
RESTRICTED STOCK AWARD AGREEMENT is made and entered into as of February 9, 2007, (“Grant Date”)
by and
between Integrated Electrical Services, Inc. a Delaware corporation
(“Company”), and Dennis S. Baldwin (“Grantee”) pursuant to the terms and
conditions of the Integrated Electrical Services, Inc. 2006 Equity Incentive
Plan (“Plan”).

SECTION
1.          GRANT OF RESTRICTED STOCK
AWARD.

(a)          Restricted
Stock Award. The Company hereby grants the Grantee 3600 Shares (“Granted Shares”), subject to
restrictions and other terms and conditions set forth in this Agreement.

(b)          No
Purchase Price. In lieu of a purchase price, this award is made in
consideration of Service previously rendered or to be rendered by the Grantee
to the Company or its Subsidiaries. The Purchase Price of this award is $0.

(c)          Plan
and Defined Terms. This award is granted under and subject to the terms of
the Plan, which is incorporated herein by reference. If there is any
inconsistency between the terms of the Plan and the terms of this Agreement,
the Plan’s terms shall supersede and replace the conflicting terms of this
Agreement. Capitalized terms that are defined in the Plan are incorporated
herein by reference and other capitalized terms are defined in Section 8 of
this Agreement.

SECTION
2.          ISSUANCE OF GRANTED SHARES.

(a)          Stock
Certificates. The Company shall cause to be issued a certificate or
certificates for the Granted Shares representing this award, registered in the
name of the Grantee. Alternatively, the Company may cause a book entry to be
made with the Company’s transfer agent evidencing the Granted Shares registered
in the name of the Grantee.

(b)          Stockholder
Rights. The Grantee (or any successor in interest) shall have all the
rights of a stockholder (including, without limitation, voting, dividend and
liquidation rights) with respect to the Granted Shares, subject, however, to
the restrictions of this Agreement.

(c)          Form
of Issuance and Escrow. For so long as Granted Shares are not vested, the
Company shall cause such certificate or certificates to be deposited in escrow
if certificates are issued. If evidenced by book entry at the transfer agent
the entry shall denote the shares are restricted as to transfer. The Grantee
shall deliver to the Company a duly-executed blank Stock Power (in the form
attached hereto as Exhibit A). All regular cash dividends paid on Granted
Shares shall be held in escrow, without interest, until the applicable vesting
date, upon which the dividends attributable to Granted Shares that have vested
shall be paid directly to the Grantee. Upon the vesting of any Granted Shares,
such Vested Shares together with any dividends held in escrow related thereto
hereunder, shall be distributed to the Grantee as soon as practicable.

(d)          Withholding
Requirements. As a condition to the receipt of Granted Shares, the Grantee
shall make such arrangements as the Committee may require for the satisfaction
of any federal, state, local or foreign withholding obligations that may arise
in connection with such receipt and the vesting and disposition of Granted
Shares or at the election of the Grantee, the Grantee may direct the Company to
withhold Shares in order to satisfy any withholding requirements.

SECTION
3.          VESTING.

               Subject
to the further provisions of this Agreement, the Granted Shares shall vest
according to the following schedule:

	
   

  	
   

  	
   

  
	
  Vesting Date 

  	
  Granted Shares Vested 

  
	
  

  	
  

  
	
   

  	
   

  
	
  February 9,
  2008

  	
   

  	
  first
  1/3

  
	
  February 9,
  2009

  	
   

  	
  second
  1/3

  
	
  February 9,
  2010

  	
   

  	
  remaining
  1/3

  

SECTION
4.          TERMINATION OF SERVICE.

In the event
that the Grantee’s Service is terminated for any reason, (i) all Vested Shares
as of the date of such termination shall remain outstanding, and (ii) all
remaining Granted Shares (and all dividends held in escrow attributable to such
Granted Shares) as of the date of such termination shall be immediately forfeited
and cancelled.

SECTION
5.          CHANGE IN CONTROL.

Notwithstanding
anything herein to the contrary, upon the occurrence of a Change in Control,
all Granted Shares held by the Grantee shall no longer be subject to the
vesting schedule set forth in Section 3 of this Agreement, and shall vest
immediately upon the consummation of the Change in Control.

SECTION
6.          ADJUSTMENT OF SHARES.

In the event
of a subdivision of the outstanding Shares, a declaration of a dividend payable
in Shares, a declaration of an extraordinary dividend payable in a form other
than Shares in an amount that has a material effect on the Fair Market Value of
the Shares, a combination or consolidation of the outstanding Shares into a
less number of Shares, a recapitalization, a spin-off, a reclassification or a
similar occurrence, the terms of this award (including, without limitation, the
number and kind of Shares subject to this award) shall be adjusted as set forth
in Section 10 of the Plan. In the event that the Company is a party to a merger
or consolidation, this award shall be subject to the agreement of merger or
consolidation, as provided in Section 10 of the Plan.

SECTION
7.          MISCELLANEOUS PROVISIONS.

(a)          No
Retention Rights. Nothing in this award or in the Plan shall confer upon
the Grantee any right to continue in Service for any period of specific
duration or interfere

with or
otherwise restrict in any way the rights of the Company (or any Subsidiary
employing the Grantee) or of the Grantee, which rights are hereby expressly
reserved by each, to terminate his or her Service at any time and for any
reason, with or without Cause.

(b)          Notification.
Any notification required by the terms of this Agreement shall be given in
writing and shall be deemed effective upon personal delivery or upon deposit
with the United States Postal Service, by registered or certified mail, with
postage and fees prepaid. A notice shall be addressed to the Company at its
principal executive office and to the Grantee at the address that he or she
most recently provided to the Company.

(c)          Entire
Agreement. This Agreement and the Plan constitute the entire contract
between the parties hereto with regard to the subject matter hereof. They
supersede any other agreements, representations or understandings (whether oral
or written and whether express or implied) which relate to the subject matter
hereof.

(d)          Waiver.
No waiver of any breach or condition of this Agreement shall be deemed to be a
waiver of any other or subsequent breach or condition whether of like or
different nature.

(e)          Assignment.
The Company may assign its rights under this Agreement to any person or entity
selected by the Committee.

(f)          Successors
and Assigns. The provisions of this Agreement shall inure to the benefit
of, and be binding upon, the Company and its successors and assigns and upon
the Grantee, the Grantee’s assigns and the legal representatives, heirs and
legatees of the Grantee’s estate, whether or not any such person shall have
become a party to this Agreement and have agreed in writing to be joined herein
and be bound by the terms hereof.

(g)          Choice
of Law. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of Delaware, as such laws are applied to contracts
entered into and performed in such State.

SECTION
8.          DEFINITIONS.

(a)          “Agreement”
shall mean this Restricted Stock Award Agreement.

(b)          “Grant Date”
shall have the meaning ascribed to such term in the introduction of this
Agreement.

(c)          “Granted Shares”
shall have the meaning ascribed to such term in Section l(a) of this Agreement.

(d)          “Grantee”
shall mean the person named herein.

(e)          “Purchase Price”
shall mean the price, if any, paid by the Grantee for the Granted Shares.

(f)          “Service”
shall mean service as an Employee, Director or Consultant. For any purpose
under this Agreement, Service shall be deemed to continue while the Grantee

is on a bona
fide leave of absence, if such leave was approved by the Company or Subsidiary
in writing or if continued crediting of Service for such purpose is expressly
required by the terms of such leave or by applicable law (as determined by the
Committee).

(g)          “Vested Share”
shall mean a Granted Share that is vested.

By signing
below, the Grantee accepts this award, and acknowledges and agrees that this
award is granted under and governed by the terms and conditions of the
Integrated Electrical Services, Inc. 2006 Equity Incentive Plan and this
Restricted Stock Award Agreement.

	
   

  	
   

  	
   

  
	
  GRANTEE:

  	
   

  	
  INTEGRATED ELECTRICAL SERVICES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  
	
  

  	
   

  	
  

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
  

  

EXHIBIT A

STOCK POWER

FOR VALUE
RECEIVED the undersigned hereby sell(s), assign(s) and transfers) unto
Integrated Electrical Services, Inc. (the “Company”), ___________ shares of the
common stock, par value $0.01 per share, of the Company standing in his name on
the books of the Company represented by Certificate No. ___________ herewith or
alternatively standing in his/her/its name in book entry at the Company’s
transfer agent and do(es) hereby irrevocably constitute and appoint
____________________________ his attorney-in-fact, with full power of
substitution, to transfer such shares on the books of the Company.

	
   

  	
   

  
	
  Dated:

  	
   

  
	
  

  	
   

  
	
  Signature:

  	
   

  
	
  

  	
   

  
	
  Print Name
  and Mailing Address

  	
   

  
	
  

  

Instructions: Please do not
fill in any blanks other than the signature line and printed name and mailing
address. Please print your name exactly as you would like your name to appear
on the issued stock certificate. The purpose of this assignment is to enable
the Company to exercise its right to reacquire the Shares without requiring
additional signatures on your part.<PAGE>

                                  EXHIBIT 10.1

  DESCRIPTION OF PRUDENTIAL SAVINGS BANK'S FISCAL 2006 DIRECTORS' COMPENSATION

        Compensation to directors for their service on the Board of Directors is
paid by Prudential Savings Bank (the "Bank"), the wholly-owned subsidiary of
Prudential Bancorp, Inc. of Pennsylvania (the "Company"). The Company does not
pay separate compensation to its directors for their service on the Company's
Board of Directors. For fiscal 2007, members of the Bank's Board of Directors
will receive an annual retainer of $21,000 if they attend 10 of the twelve
regularly scheduled Board meetings. If a director does not attend at least 10
meetings, he instead will receive $1,750 per meeting attended, including both
regular and special Board meetings. Members of the Audit Committee, Executive
Committee, Compensation Committee and Budget/Finance Committee will receive fees
of $800 per meeting attended. As Chairman of the Board, Mr. Packer will receive
an annual retainer of $69,750 in addition to standard board and committee
meeting fees. Mr. Judge will receive an additional $5,000 per year for service
as chairman of the Bank's Finance Committee. As solicitor of the Bank, Mr. Balka
will receive an annual retainer of $45,000. Mr. Balka also will receive the
normal meeting fees for service on the Executive Committee and the normal annual
Board retainer of $21,000.

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