FORM OF] EMPLOYMENT AGREEMENTEmployment Agreement • April 25th, 2023 • PFS Bancorp, Inc. • Savings institutions, not federally chartered • Illinois
This Employment Agreement (this “Agreement”) is made effective as of __________ __, 2023 (the “Effective Date”), by and between Peru Federal Savings Bank, a federal stock savings bank (the “Bank”), and Dale R. Tieman (the “Executive”). The Bank and Executive are sometimes collectively referred to herein as the “parties.” Any reference to the “Company” shall mean PFS Bancorp, Inc., the holding company of the Bank. The Company is a signatory to this Agreement for the purpose of guaranteeing the Bank’s performance hereunder.
PFS BANCORP, INC. (a Maryland corporation) Up to 1,840,000 Shares of Common Stock (Subject to Increase to up to 2,116,000 Shares of Common Stock) COMMON STOCK (Par Value $0.01 Per Share) Subscription Price $10.00 Per Share AGENCY AGREEMENT May [•], 2023Agency Agreement • April 25th, 2023 • PFS Bancorp, Inc. • Savings institutions, not federally chartered
PFS Bancorp, Inc., a Maryland corporation (“PFS Bancorp”) and Peru Federal Savings Bank, a federally-chartered mutual savings bank (“Peru Federal”) (collectively, PFS Bancorp and Peru Federal are the “PFS Parties”), hereby confirm, jointly and severally, their agreement with Keefe, Bruyette & Woods, Inc. (“KBW” or the “Agent”), as follows:
