THIS AGREEMENT entered into and effective this 15th day of July, 1999, by and between River Valley
Financial Bank, a federal savings bank (the "Bank"), and Matthew P. Forrester (the "Employee"). The parties
agree, however, that the "Effective Date" of this Agreement shall be October 12, 1999.
WHEREAS, the Employee is being employed by the Bank as its President and as such will perform valuable
services for the Bank; and
WHEREAS, the Board of Directors of the Bank believes it is in the best interests of the Bank to enter into this
Agreement with the Employee in order to assure continuity of management of the Bank and to reinforce and
encourage the continued attention and dedication of the Employee to his assigned duties; and
WHEREAS, the parties desire by this writing to set forth the continuing employment relationship of the Bank and
NOW, THEREFORE, it is AGREED as follows:
1. Employment: The Employee is employed as the President of the Bank. The Employee shall render such
administrative and management services for the Bank as are currently rendered and as are customarily performed
by persons situated in a similar executive capacity. The Employee shall also promote, by entertainment or
otherwise, as and to the extent permitted by law, the business of the Bank. The Employee's other duties shall be
such as the Board of Directors (the "Board") of the Bank may from time to time reasonably direct, including
normal duties as an officer of the Bank.
2. Base Compensation: The Bank agrees to pay the Employee during the term of this Agreement a salary at the
rate of $95,000.00 per annum, payable in cash not less frequently than monthly, and shall be effective and
calculated commencing the Effective Date. The salary shall be reviewed annually by the Board of Directors of the
Bank in February of each year commencing February of 2000 and any adjustment in the future on salary shall be
effective on February 1st of each year.
3. Bonuses: The Employee shall partic