SEC Contract Filing

Filing Date: 2022-05-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>ex_370003.htm
<DESCRIPTION>AMENDED AND RESTATED EMPLOYMENT AGREEMENT BY AND AMONG BANKFINANCIAL, NA AND PAUL A. CLOUTIER DATED MAY 3, 2022.
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.4</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;"><b>BANKFINANCIAL, NATIONAL ASSOCIATION</b></p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: center;"><b>AMENDED AND RESTATED EMPLOYMENT AGREEMENT</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;"><b>THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT</b> (this &#8220;<b>Agreement</b>&#8221;<b>)</b> is made effective as of May 3, 2022 (the<b> </b>&#8220;<b>Effective Date</b>&#8221;<b>)</b>, by and between <b>BankFinancial, National Association</b> (the<b> </b>&#8220;<b>Bank</b>&#8221;<b>),</b> a national banking association having its principal office at<b> </b>21110 South Western Avenue, Olympia Fields, Illinois, and<b> Paul A. Cloutier (</b>&#8220;<b>Executive</b>&#8221;<b>).</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;"><b>WHEREAS,</b> the Bank and the Executive have previously entered into an Employment Agreement dated May 6, 2008, as amended (the<b> </b>&#8220;<b>Initial Agreement</b>&#8221;);</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;"><b>WHEREAS,</b> the Bank considers the continued availability of Executive&#8217;s services to be important to the successful management and conduct of the Bank&#8217;s business, and wishes to assure the continued availability of Executive&#8217;s full-time services to the Bank as provided in this Agreement; and</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;"><b>WHEREAS,</b> Executive is willing to continue to serve in the employ of the Bank on a full-time basis on the terms and conditions set forth herein.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;"><b>NOW, THEREFORE,</b> in consideration of the mutual covenants herein contained, and upon the other terms and conditions hereinafter provided, the parties hereby agree as follows:</p>

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 <p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"><b>1.</b><b><u> </u></b></p>
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 <p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"><b><u>POSITION AND RESPONSIBILITIES</u></b><b>.</b></p>
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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;"><b>(a)</b><b>&nbsp;&nbsp;&nbsp;&nbsp;<u>Position</u></b><b>.</b> During the period of employment established by Section 2(a) of this Agreement (the<b> </b>&#8220;<b>Employment Period</b>&#8221;<b>),</b> Executive agrees to serve, if appointed to serve, as the Chief Financial Officer and the Executive Vice President of the Finance Division of the Bank.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;"><b>(b)</b><b>&nbsp;&nbsp;&nbsp;&nbsp; <u>Duties and Responsibilities</u></b><b>.</b> Executive shall have and exercise the duties, responsibilities, privileges, powers and authority commensurate with such position as the Bank has assigned and may hereafter assign to Executive.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 36pt; text-align: justify;"><b>(c)</b><b>&nbsp;&nbsp;&nbsp;&n