FORM OF 3 YEAR EMPLOYMENT AGREEMENT] EMPLOYMENT AGREEMENT FOR RALPH SCHANKEmployment Agreement • September 17th, 2008 • St. Joseph Bancorp, Inc. • Missouri
This Employment Agreement (the “Agreement”) is made effective as of the __ day of ____________, 2008 (the “Effective Date”), by and between Midwest Federal Savings and Loan Association of St. Joseph (the “Association”), a federally chartered stock savings association with its principal administrative office at 1901 Frederick Avenue, St. Joseph, Missouri 64501, and Ralph Schank (“Executive”). The Association is a wholly-owned subsidiary of St. Joseph Bancorp, Inc., a Maryland corporation (the “Company”). The Company has executed this Agreement for the sole purpose of guaranteeing the Association’s financial performance hereunder.
RP® FINANCIAL, LC. Financial Services Industry Consultants March 6, 2008 Mr. Ralph Schank President and Chief Executive Officer Midwest Federal Savings & Loan Association of St. Joseph St. Joseph, Missouri 64501 Dear Mr. Schank: This letter sets forth...St. Joseph Bancorp, Inc. • September 17th, 2008
The appraisal report will establish a midpoint pro forma market value. The appraisal report may be periodically updated throughout the conversion process as appropriate. The conversion appraisal guidelines require at least one updated valuation just prior to the time of the closing of the stock offering.
FELDMAN FINANCIAL ADVISORS, INC.Letter Agreement • September 17th, 2008 • St. Joseph Bancorp, Inc.
This letter agreement (“Agreement”) describes the terms under which Feldman Financial Advisors, Inc. (“Feldman Financial”) will assist Midwest Federal Savings (“Midwest”) with the business plan (“Business Plan”) to be submitted to regulators in conjunction with Midwest’s conversion from a mutual savings institution to a stock savings institution. The services we will provide and our fees for this proposal are explained in this Agreement.
