SETTLEMENT AGREEMENT AND MUTUAL RELEASESettlement Agreement and Mutual Release • December 15th, 2004 • Monarch Community Bancorp Inc • National commercial banks • Michigan
This Settlement Agreement and Mutual Release (“Agreement”) is made and entered into this 9th day of December, 2004, by and among John R. Schroll, an individual with an address at 209 North Clay Street, Coldwater, Michigan 49036 (“Schroll” or “Party”), Monarch Community Bancorp, Inc., a Maryland corporation with its chief executive office located at 375 North Willowbrook Road, Coldwater, Michigan 49036 (“Bancorp” or “Party”) and Monarch Community Bank, a federally-chartered banking corporation with its chief executive office located at 375 North Willowbroook Road, Coldwater, Michigan 49036 (“Bank” or “Party”).
