THIS LOAN AGREEMENT (“Loan Agreement”) is made and entered into as of the 15
August, 2008, by and between the Compensation Committee of the Board of Directors of Auburn Savings Bank,
as trustee (the “Trustee”), of the trust (“Borrower”) established under Article VIII, and which forms a part, of the
Auburn Savings Bank, FSB Employee Stock Ownership Plan and Trust (“ESOP”), and Auburn Bancorp, Inc.
(“Lender”), a corporation organized and existing under the laws of the United States of America.
WHEREAS, the Borrower is authorized to purchase shares of common stock (“Common Stock”) of the
Lender, either directly from the Lender or in open market purchases in an amount not to exceed Three and
percent (3.43%) of the number of shares of Common Stock issued in the offering (including shares
issued to Auburn Bancorp, MHC).
WHEREAS, the Borrower is authorized to borrow funds from the Lender for the purpose of financing
authorized purchases of Common Stock; and
WHEREAS, the Lender is willing to make a loan to the Borrower for such purpose:
NOW, THEREFORE, the parties agree hereto as follows:
The following definitions shall apply for purposes of this Loan Agreement, except to the extent that a
different meaning is plainly indicated by the context:
BUSINESS DAY means any day other than a Saturday, Sunday or other day on which banks are
authorized or required to close under federal or local law.
CODE means the Internal Revenue Code of 1986, as amended (including the corresponding provisions
of any succeeding law).
DEFAULT means an event or condition which would constitute an Event of Default. The determination
as to whether an event or condition would constitute an Event of Default shall be determined without regard to
any applicable requirements of notice or lapse of time.
ERISA means the Employee Retirement Income Security Act of 1974, as