Exhibit 10.1 BANK MUTUAL CORPORATION (a Wisconsin Business Corporation) Up to 31,050,000 Shares (Subject to Increase Up to 35,707,500 Shares) COMMON STOCK ($.01 Par Value) Subscription Price $10.00 Per Share AGENCY AGREEMENTAgency Agreement • August 11th, 2003 • Bank Mutual Corp • Savings institution, federally chartered • Wisconsin
