Peru Federal Savings Bank AMENDED AND RESTATED Supplemental Life Insurance AgreementSupplemental Life Insurance Agreement • March 10th, 2023 • PFS Bancorp, Inc. • Illinois
THIS SUPPLEMENTAL LIFE INSURANCE AGREEMENT (this “Agreement”) is adopted this May 1, 2014, by and between PERU FEDERAL SAVINGS BANK, located in Peru, Illinois (the “Bank”), and (the “Executive”). It amends and restates in its entirety the Endorsement Split Dollar Insurance Agreement between the Bank and the Executive dated June 4, 2004.
January 19, 2023 Peru Federal Savings Bank Peru, IL 61354Services Agreement • March 10th, 2023 • PFS Bancorp, Inc.
This letter agreement (this “Agreement”) confirms the engagement of Keefe, Bruyette & Woods, Inc. (“KBW”) by Peru Federal Savings Bank (the “Bank”), on behalf of both itself and the Company (as defined herein), to act as the conversion agent and the data processing records management agent (KBW in such capacities, the “Agent”) to the Company in connection with the Bank’s proposed conversion from the mutual to the stock form of organization, including the offer and sale of the common stock (the “Conversion”) pursuant to the Company’s proposed Plan of Conversion (the “Plan of Conversion”). The sale of the common stock will be to eligible persons in a subscription offering (the “Subscription Offering”), with any remaining unsold shares of Common Stock to then be offered to the general public in a community offering (the “Community Offering”) and if necessary, through a syndicate of broker-dealers organized by KBW (a “Syndicated Community Offering”) (the Subscription Offering, Community Of
Feldman Financial Advisors, Inc.Valuation Agreement • March 10th, 2023 • PFS Bancorp, Inc.
This letter sets forth the agreement (“Agreement”) between Peru Federal Savings Bank (the “Bank”) and Feldman Financial Advisors, Inc. (“FFA”), whereby the Bank has engaged FFA to provide an independent appraisal of the estimated aggregate pro forma market value (the “Valuation”) of the Bank in connection with the conversion of the Bank from the mutual to stock form of organization and concurrent offering of all the capital stock by the Bank or its newly formed holding company (the “Conversion”).
