Common use of Fee Structure and Payment Schedule Clause in Contracts

Fee Structure and Payment Schedule. The Company agrees to pay RP Financial a fixed fee of $35,000 for preparation and delivery of the original appraisal report, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $10,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; • $25,000 upon delivery of the completed original appraisal report; and • $5,000 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. The Company will reimburse RP Financial for out-of-pocket expenses incurred in preparation of the valuation. Such out-of-pocket expenses will likely include travel, printing, shipping, computer and data services. RP Financial will agree to limit reimbursable expenses in connection with this appraisal engagement, subject to written authorization from the Company to exceed such level. In the event the Company shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Company agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. RP Financial’s standard billing rates range from $75 per hour for research associates to $400 per hour for managing directors. If during the course of the proposed transaction, events occur so as to materially change the nature or the work content of the services described in this contract, the terms of said contract shall be subject to renegotiation by the Company and RP Financial. Such unforeseen events shall include, but not be limited to, major changes (actual or proposed by the applicable regulatory authorities) in the conversion regulations, appraisal guidelines or processing

Fee Structure and Payment Schedule. The Company agrees to pay RP Financial a fixed fee of $35,000 50,000 for preparation and delivery of the original appraisal report, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $10,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; • $25,000 40,000 upon delivery of the completed original appraisal report; and • $5,000 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. The Company will reimburse RP Financial for out-of-pocket expenses incurred in preparation of the valuation. Such out-of-pocket expenses will likely include travel, printing, shipping, computer and data services. RP Financial will agree to limit reimbursable expenses in connection with this appraisal engagement, subject to written authorization from the Company to exceed such level. In the event the Company shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Company agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. RP Financial’s standard billing rates range from $75 per hour for research associates to $400 350 per hour for managing directors. If during the course of the proposed transaction, events occur so as to materially change the nature or the work content of the services described in this contract, the terms of said contract shall be subject to renegotiation by the Company and RP Financial. Such unforeseen events shall include, but not be limited to, major changes (actual or proposed by the applicable regulatory authorities) in the conversion regulations, appraisal guidelines or processingprocessing procedures as they relate to appraisals, major changes in management or procedures, operating policies or philosophies, and excessive delays or suspension of processing of conversion applications by the regulators such that completion of the transaction requires the preparation by RP Financial of a new appraisal.

Fee Structure and Payment Schedule. The Company Bank agrees to pay RP Financial a fixed fee of $35,000 for preparation and delivery of the original appraisal report, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $10,000 5,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; • $25,000 30,000 upon delivery of the completed original appraisal report; and • $5,000 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. The Company Bank will reimburse RP Financial for out-of-pocket expenses incurred in preparation of the valuation. Such out-of-pocket expenses will likely include travel, printing, shipping, computer and data services. RP Financial will agree to limit reimbursable expenses in connection with this appraisal engagementengagement to $7,500, subject to written authorization from the Company Bank to exceed such level. In the event the Company Bank shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Company Bank agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. RP Financial’s standard billing rates range from $75 per hour for research associates to $400 per hour for managing directors. If during the course of the proposed transaction, events occur so as to materially change the nature or the work content of the services described in this contract, the terms of said contract shall be subject to renegotiation by the Company Bank and RP Financial. Such unforeseen events shall include, but not be limited to, major changes (actual or proposed by the applicable regulatory authorities) in the conversion regulations, appraisal guidelines or processingprocessing procedures as they relate to appraisals, major changes in management or procedures, operating policies or philosophies, and excessive delays or suspension of processing of conversion applications by the regulators such that completion of the transaction requires the preparation by RP Financial of a new appraisal.

Fee Structure and Payment Schedule. The Company Bank agrees to pay RP Financial a fixed fee of $35,000 for preparation and delivery of the original appraisal report, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $10,000 5,000 upon execution of the letter of agreement engaging RP Financial’s 's appraisal services; • $25,000 30,000 upon delivery of the completed original appraisal report; and • $5,000 3,500 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. The Company Bank will reimburse RP Financial for out-of-pocket expenses incurred in preparation of the valuation. Such out-of-pocket expenses will likely include travel, printing, shipping, computer and data services. RP Financial will agree to limit reimbursable expenses to $7,500 in connection with this appraisal engagement, subject to written authorization from the Company Bank to exceed such level. In the event the Company Bank shall, for any reason, discontinue the proposed mutual-to-minority stock conversion transaction offering prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Company Bank agrees to compensate RP Financial according to RP Financial’s 's standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. RP Financial’s 's standard billing rates range from $75 per hour for research associates to $400 350 per hour for managing directors. NEXT PAGE Xx. Xxxxxxx X. Deines June 26, 2007 Page 3 If during the course of the proposed transaction, unforeseen events occur so as to materially change the nature or the work content of the services described in this contract, the terms of said contract shall be subject to renegotiation by the Company Bank and RP Financial. Such unforeseen events shall include, but not be limited to, major changes (actual or proposed by the applicable regulatory authorities) in the conversion regulations, appraisal guidelines or processingprocessing procedures as they relate to appraisals, major changes in management or procedures, operating policies or philosophies, and excessive delays or suspension of processing of applications by the regulators such that completion of the transaction requires the preparation by RP Financial of a new appraisal.

Fee Structure and Payment Schedule. The Company Bank agrees to pay RP Financial a fixed fee of $35,000 67,500 for preparation and delivery of the original appraisal reportreport and $7,500 for each subsequent update, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $10,000 upon execution of the this letter of agreement engaging RP Financial’s appraisal services; • $25,000 57,500 upon delivery of the completed original appraisal report; and and, • $5,000 7,500 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. It is anticipated that there will be at least one appraisal update report, specifically the update to be prepared in conjunction with the completion of the stock offering. The Company Bank will reimburse RP Financial for reasonable out-of-pocket expenses incurred in preparation of the valuationoriginal appraisal and subsequent updates. Such out-of-pocket expenses will likely include travel, printing, shipping, reasonable counsel fees, computer and data services. RP Financial , and will agree to limit reimbursable expenses not exceed $2,000 in connection with this appraisal engagementthe aggregate, subject to written excluding travel expenses, without the Bank’s authorization from the Company to exceed such this level. Travel expenses will be invoiced as incurred. In the event the Company Bank shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Company Bank agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee and expense caps noted above, after giving full credit to the initial retainer fee. RP Financial’s standard billing rates range from $75 125 per hour for research associates to $400 450 per hour for managing directors. If during the course of the proposed transaction, unforeseen events occur so as to materially change the nature or the work content of the services described in this contract, the terms of said contract shall be subject to renegotiation by the Company Bank and RP Financial. Such unforeseen events shall include, but not be limited to, major material changes (actual or proposed by to the structure of the transaction such as inclusion of a simultaneous business combination transaction, material changes in the applicable regulatory authorities) in the conversion regulations, appraisal guidelines or processingprocessing procedures as they relate to appraisals, material changes in management or procedures, operating policies or philosophies, or excessive delays or suspension of processing of applications by the regulators such that completion of the transaction requires the preparation by RP Financial of a new appraisal.