0001019056-08-000125 Sample Contracts

MALVERN FEDERAL BANCORP, INC. MALVERN FEDERAL SAVINGS BANK EMPLOYMENT AGREEMENT
Employment Agreement • January 31st, 2008 • Malvern Federal Bancorp Inc • Savings institutions, not federally chartered • Pennsylvania

This EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of the ____ day of ________ 2008, by and among Malvern Federal Bancorp, Inc. (the “Corporation”), Malvern Federal Savings Bank (the “Bank”), a federally chartered savings bank which will become a wholly owned subsidiary of the Corporation, and Dennis Boyle (the “Executive”).

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MALVERN FEDERAL BANCORP, INC. (a Federal Corporation in Formation) Up to 3,461,500 Shares (Subject to Increase Up to 3,980,725 Shares) COMMON STOCK ($0.01 Par Value) Subscription Price $10.00 Per Share FORM OF AGENCY AGREEMENT February __, 2008
Agency Agreement • January 31st, 2008 • Malvern Federal Bancorp Inc • Savings institutions, not federally chartered • New Jersey

Malvern Federal Bancorp, Inc., a federal corporation in formation (the “Holding Company”), Malvern Federal Mutual Holding Company, a federal mutual holding company in formation (the “MHC”) and Malvern Federal Savings Bank (the “Bank”) (collectively, with each of their subsidiaries, the “Primary Parties”) hereby confirm, jointly and severally, their agreement with Stifel, Nicolaus & Company, Incorporated (the “Agent”), as follows:

MALVERN FEDERAL BANCORP, INC. MALVERN FEDERAL SAVINGS BANK EMPLOYMENT AGREEMENT
Employment Agreement • January 31st, 2008 • Malvern Federal Bancorp Inc • Savings institutions, not federally chartered • Pennsylvania

This EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of the ____ day of ________ 2008, by and among Malvern Federal Bancorp, Inc. (the “Corporation”), Malvern Federal Savings Bank (the “Bank”), a federally chartered savings bank which will become a wholly owned subsidiary of the Corporation, and Ronald Anderson (the “Executive”).

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