EMPLOYMENT AGREEMENTEmployment Agreement • June 3rd, 2016 • Bancorp 34, Inc. • New Mexico
This Employment Agreement (the “Agreement”) is made effective as of __________, 2016 (the “Effective Date”), by and between Bancorp 34, Inc. (the “Company”) and ____________ (“Executive”). Any reference to the “Bank” shall mean Bank 34, the wholly-owned subsidiary of the Company.
BANCORP 34, INC. (a Maryland corporation) Up to 1,634,334 Shares (Subject to increase to up to 1,879,484 shares) COMMON STOCK ($0.01 Par Value) Offering Price $10.00 Per Share AGENCY AGREEMENTAgency Agreement • June 3rd, 2016 • Bancorp 34, Inc. • New York
Alamogordo Financial Corp., a federal stock corporation (the “Mid-Tier Holding Company”), Bancorp 34, Inc., a newly formed Maryland corporation organized to be the successor to the Mid-Tier Holding Company (the “Holding Company”), AF Mutual Holding Company, a federally-chartered mutual holding company (the “MHC”) and Bank 34, a federally-chartered stock savings bank (the “Bank”), the deposit accounts of which are insured by the Federal Deposit Insurance Corporation (the “FDIC”) (collectively, the Mid-Tier Holding Company, the Holding Company, the MHC and the Bank are referred to as the “Primary Parties”) hereby confirm their agreement with Keefe, Bruyette & Woods, Inc. (the “Agent”) as follows:
KELLER & COMPANY, INC.Bancorp 34, Inc. • June 3rd, 2016
Keller & Company, Inc. (hereinafter referred to as KELLER) hereby proposes to prepare an independent conversion appraisal of the successor to Alamogordo Financial Corp. (hereinafter referred to as “AFC”), the stock holding company of Bank 34 (“Bank 34”), relating to the second stage conversion (the “Conversion”) of AF Mutual Holding Company. KELLER will provide a pro forma valuation of the market value of the shares of AFC to be sold in connection with a second stage conversion and the corresponding exchange ratio and prepare the pro forma valuation tables in the prospectus.
EMPLOYMENT AGREEMENTEmployment Agreement • June 3rd, 2016 • Bancorp 34, Inc. • New Mexico
This Employment Agreement (the “Agreement”) is made effective as of __________, 2016 (the “Effective Date”), by and between Bank 34 (the “Bank”) and ___________ (“Executive”). Any reference to the “Company” shall mean Bancorp 34, Inc., the stock holding company of the Bank.
