CHESTERFIELD FINANCIAL CORP.



                        SUPPLEMENTAL EXECUTIVE AGREEMENT



      WHEREAS, Michael E. DeHaan ("Executive") and Chesterfield Financial Corp.

(the "Company") desire to enter into this Supplemental Executive Agreement

("Supplemental Agreement") to supplement the Employment Agreement entered into

between the Executive and Chesterfield Federal Savings and Loan Association of

Chicago (the "Association"), the wholly owned subsidiary of the Company, on

March 20, 2001 (hereinafter referred to as the "Employment Agreement"); and



      WHEREAS, tax law provisions relating to "golden parachute payments" could

have the effect of reducing the benefits otherwise provided to Executive under

the Employment Agreement and the Executive's supplemental executive retirement

plan as a result of a change in control of the Company or the Association; and



      WHEREAS, the Board of Directors of the Company (the "Board") believes that

this Supplemental Agreement is in the best interests of the Company and its

shareholders and will provide the benefits intended to be provided to Executive

in the event of a change in control of the Company or the Association, without

any reduction because of tax code "penalties" or excise taxes relating to a

change in control; and



      WHEREAS, the Company and the Executive also desire to enter into this

Supplemental Agreement for the purpose of providing further incentive to the

Executive to achieve successful results in the management and operations of the

Company.



      NOW, THEREFORE, in consideration of the mutual covenants herein contained,

and upon the other terms and conditions hereinafter provided, the parties hereto

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC