JACKSONVILLE SAVINGS BANK

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

This Amended and Restated Agreement (the "Agreement") is made effective as of the 2nd day of September 2008, by and between Jacksonville Savings Bank (the "Bank"), an Illinois chartered savings institution, with its principal administrative office at 1211 West Morton Avenue, Jacksonville, Illinois 62650-2000 and Richard A. Foss ("Executive"). Any reference to "Company" herein shall mean Jacksonville Bancorp, Inc. or any successor thereto.

WHEREAS, the Executive is currently employed as Chief Executive Officer and President of the Bank pursuant to an employment agreement between the Bank and the Executive entered into as of January 1, 2004 (the "Employment Agreement"); and

WHEREAS, the Bank desires to amend and restate the Employment Agreement in order to make changes to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the "Code") and the final regulations issued thereunder in April 2007; and

WHEREAS, the Bank desires to ensure that the Bank is assured of the continued availability of the Executive's services as provided in this Agreement; and

WHEREAS, the Executive is willing to serve the Bank on the terms and conditions hereinafter set forth and has agreed to such changes; and

WHEREAS, the Board of Directors of the Bank and the Executive believe it is in the best interests of the Bank to enter into an amended and restated employment agreement in order to reinforce and reward the Executive for his service and dedication to the continued success of the Bank and incorporate the changes required by Section 409A of the Code.

NOW, THEREFORE, in consideration of the mutual covenants herein contained, and upon the other terms and conditions hereinafter provided, the parties hereby agree as follows:

1. POSITION AND RESPONSIBILITIES

During the period of his employment hereunder, Executive agrees to serve as President and Chief Executive Officer of the Bank. During said period, Executive also agrees to serve, if elected, as an officer and director of any subsidiary or affiliate of the Bank. Failure to reelect Executive as President and Chief Executive Officer without the consent of the Executive during the term of this Agreement shall constitute a breach of this Agreement.

2. TERMS AND DUTIES

(a) The period of Executive's employment under this Agreement shall begin as of the date first above written and shall continue for a period of thirty-six
(36) full calendar months thereafter, provided that all changes intended to comply with Section 409A of the Code shall be retroactively effective to January 1, 2005; and provided further that no retroactive change shall affect the compensation or benefits previously provided to the Executive. Commencing on the first anniversary date of this Agreement, and continuing at each anniversary

date thereafter, the Agreement shall renew for an additional year such that the remaining term shall be three (3) years unless written notice of non-renewal is provided to Executive at least ten (10) days and not more than thirty (30) days prior to any such anniversary date, that the term of the Agreement shall cease at the end of twenty-four (24) months following such anniversary date. Prior to each notice period for non-renewal, the disinterested members of the Board of Directors of the Bank ("Board") will conduct a comprehensive performance evaluation and review of the Executive for purposes of determining whether to extend the Agreement, and the results thereof shall be included in the minutes of the Board's meeting.

(b) During the period of his employment hereunder, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence, Executive shall devote substantially all his business time, attention, skill, and efforts to the faithful performance of his duties hereunder including activities and services related to the organization, operation and management of the Bank; provided, however, that, with the approval of the Board, as evidenced by a resolution of such Board, from time to time, Executive may serve, or continue to serve, on the boards of directors of, and hold any other offices or positions in, companies or organizations, which, in such Board's judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Executive's duties pursuant to this Agreement. Nothing in this Section shall be construed as preventing the Executive from serving from time to time on boards, committees, or holding positions of non-profit or governmental organizations, including religious and civic groups, without the need for Board approval.

3. COMPENSATION AND REIMBURSEMENT

(a) The compensation specified under this Agreement shall constitute the salary and benefits paid for the duties described in Section 2(b). The Bank shall pay Executive as compensation a salary of not less than $156,000 per year ("Base Salary"). Such Base Salary shall be payable biweekly. During the period of this Agreement, Executive's Base Salary shall be reviewed at least annually; such review will be made no later than January 31 of each year during the term of this Agreement and shall be effective from the first day of said month through the end of the calendar year. Such review shall be conducted by a Committee designated by the Board, and the Board may increase, but not decrease, Executive's Base Salary (any increase in Base Salary shall become the "Base Salary" for purposes of this Agreement). In addition to the Base Salary provided in this Section 3(a), the Bank shall provide Executive at no cost to Executive with all such other benefits as are provided uniformly to permanent full-time employees of the Bank.

(b) The Bank will provide Executive with employee benefit plans, arrangements and perquisites substantially equivalent to those in which Executive was participating or otherwise deriving benefit from immediately prior to the beginning of the term of this Agreement, and the Bank will not, without Executive's prior written consent, make any changes in such plans, arrangements or perquisites which would adversely affect Executive's rights or benefits thereunder. Without limiting the generality of the foregoing provisions of this Subsection (b), Executive will be entitled to participate in or receive benefits under any employee benefit plans, including but not limited to, retirement plans, supplemental retirement plans, pension plans, profit-sharing plans, health-and-accident plans, medical coverage or any other employee benefit plan or arrangement made available by the Bank in the future to its senior executives and key management employees, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements.

Executive will be entitled to incentive compensation and bonuses as provided in any plan of the Bank in which Executive is eligible to participate. Nothing paid to the Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which the Executive is entitled under this Agreement.

(c) In addition to the Base Salary provided for by paragraph (a) of this
Section 3, the Bank shall pay or reimburse Executive for all reasonable travel and other reasonable expenses incurred by Executive performing his obligations under this Agreement and may provide such additional compensation in such form and such amounts as the Board may from time to time determine, and all such reimbursements (and compensation) pursuant to this Section 3(c) shall be paid promptly by the Bank and in any event no later than March 15 of the calendar year immediately following the year in which the expense was incurred (or the compensation was earned).

(d) Compensation and reimbursement to be paid pursuant to paragraphs (a),
(b) and (c) of this Section 3 shall be paid by the Bank and the Company, respectively on a pro rata basis, based upon the amount of service the Executive devotes to the Bank and Company, respectively.

(e) In addition to the foregoing, Executive shall be entitled to receive fees for serving as a director of the Bank in the same amount and on the same terms as fees are paid to other directors of the Bank, and no later than March 15 of the calendar year immediately following the year in which the fees were earned.

4. PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION

The provisions of this Section shall in all respects be subject to the terms and conditions stated in Sections 8 and 15.

(a) The provisions of this Section shall apply upon the occurrence of an Event of Termination (as herein defined) during the Executive's term of employment under this Agreement. As used in this Agreement, an "Event of Termination" shall mean and include any one or more of the following: (i) the termination by the Bank or the Company of Executive's full-time employment hereunder for any reason other than, (A) Disability or Retirement as defined in
Section 6 below, (B) a Change in Control, as defined in Section 5(a) hereof, or
(C) Termination for Cause as defined in Section 7 hereof; or (ii) Executive's resignation from the Bank's employ, upon any (A) failure to elect or reelect or to appoint or reappoint Executive as President and Chief Executive Officer, (B) material change in Executive's function, duties, or responsibilities, which change would cause Executive's position to become one of lesser responsibility, importance, or scope from the position and attributes thereof described in
Section 1, above, (C) a relocation of Executive's principal place of employment by more than 30 miles from its location at the effective date of this Agreement, or a material reduction in the benefits and perquisites to the Executive from those being provided as of the effective date of this Agreement, (D) liquidation or dissolution of the Bank or Company other than liquidations or dissolutions

that are caused by reorganizations that do not affect the status of Executive, or (E) any other breach of this Agreement by the Bank. Upon the occurrence of any event described in clauses (ii)(A), (B), (C), (D) or (E), above, Executive shall have the right to elect to terminate his employment under this Agreement by resignation upon sixty (60) days prior written notice given within a reasonable period of time not to ninety (90) days after the initial event giving rise to said right to elect; provided, however, that the Bank has thirty (30) days to remedy any condition under clauses (ii)(A) through (E) above, but the Bank may waive such cure period and make an immediate payment hereunder. Notwithstanding the preceding sentence, in the event of a continuing breach of this Agreement by the Bank, the Executive, after giving due notice within the prescribed time frame of an initial event specified above, shall not waive any of his rights solely under this Agreement and this Section 4 by virtue of the fact that Executive has submitted his resignation but has remained in the employment of the Bank and is engaged in good faith discussions to resolve any occurrence of an event described in clauses (A), (B), (C), (D) and (E) above.

(b) Upon the occurrence of an Event of Termination, on the Date of Termination, as defined in Section 8, the Bank shall pay Executive, or, in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, as severance pay or liquidated damages, or both, a sum equal to the greater of the payments due for the remaining term of the Agreement or three (3) times the average of the three preceding years' Base Salary, including bonuses and any other cash compensation paid to the Executive during such years, and the amount of any benefits received pursuant to any employee benefit plans on behalf of the Executive, maintained by the Bank during such years. All payments shall be made to the Executive in a single cash lump-sum distribution, and shall commence within thirty (30) days following the Executive's Date of Termination, provided however, if Executive is a "Specified Employee," as defined in Treasury Regulation 1.409A-1(i), then, solely to the extent required to avoid penalties under Code Section 409A, such payment shall be delayed until the first day of the seventh full month following the Executive's Date of Termination.

(c) Notwithstanding the provisions of Sections 4(a) and (b), and in the event that there has not been a Change in Control as defined in Section 5(a), upon the voluntary termination by the Executive upon giving sixty (60) days notice to the Bank (which shall not be deemed to constitute an "Event of Termination" as defined herein), the Bank, at the discretion of the Board of Directors, may pay Executive, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, a severance payment in an amount to be determined by the Board of Directors at the time of such voluntary termination by the Executive. Such severance payment shall not exceed three (3) times the average of the three preceding years' Base Salary, including bonuses and any other cash compensation paid to the Executive during such years, and the amount of any benefits received pursuant to any employee benefit plans, on behalf of the Executive, maintained by the Bank during such years. All payments shall be made to the Executive in a single cash lump sum distribution within thirty (30) days following the Executive's Date of Termination, provided however, if Executive is a "Specified Employee," as defined in Treasury Regulation 1.409A-1(i), then, solely to the extent required to avoid penalties under Code Section 409A, such payment shall be delayed until the first day of the seventh full month following the Executive's Date of Termination.

(d) Upon the occurrence of an Event of Termination, the Bank will cause to be continued life insurance and non-taxable medical and dental coverage substantially identical to the coverage maintained by the Bank for Executive prior to his termination, provided that such benefits shall not be provided in the event they should constitute an unsafe or unsound banking practice relating

to executive compensation and employment contracts pursuant to applicable regulations, as is now or hereafter in effect. Such coverage shall cease upon the expiration of the remaining term of this Agreement.

(e) The Executive's termination of employment in accordance with Section 4 shall be construed to require a "Separation from Service" as defined in Code
Section 409A and the Treasury Regulations promulgated thereunder, such that the Bank and Executive reasonably anticipate that the level of bona fide services the Executive would perform after termination would permanently decrease to a level that is less than 50% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period.

5. CHANGE IN CONTROL

(a) No benefit shall be payable under this Section 5 unless there shall have been a Change in Control of the Bank or Company, as set forth below. For purposes of this Agreement, a "Change in Control" of the Bank or Company shall mean an event of a nature that (i) would be required to be reported in response to Item 5.01 of the current report on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (the "Exchange Act"), or (ii) results in a Change in Control of the Bank or the Company within the meaning of the Home Owners' Loan Act, as amended and applicable rules and regulations promulgated thereunder as in effect at the time of the Change in Control; or (iii) without limitation such a Change in Control shall be deemed to have occurred at such time as (a) any "person" (as the term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes a "beneficial owner" (as defined in Rule 13d-3 of the Exchange Act) directly or indirectly, of securities of the Company representing 25% or more of the Company's outstanding securities except for any securities purchased by the Bank's employee stock ownership plan or trust; (b) individuals who constitute the Board on the date hereof (the "Incumbent Board") cease for any reason to constitute at least a majority thereof; (c) a plan of reorganization, merger, consolidation, sale of all or substantially all the assets of the Bank or Company or similar transaction in which the Bank or the Company is not the surviving institution occurs; (d) a proxy statement soliciting proxies from stockholders of the Company, by someone other than the then current Board of Directors of the Company, seeking stockholder approval of a plan of reorganization, merger or consolidation of the Company or similar transaction with one or more corporations as a result of which the outstanding shares of the common stock of the Company are exchanged for or converted into cash or property or securities not issued by the Company; or (e) a tender offer is made for 25% or more of the voting securities of the Company and the shareholders owning beneficially or of record 25% or more of the outstanding securities of the Company have tendered or offered to sell their shares pursuant to such tender offer and such tendered shares have been accepted by the tender offeror.

Notwithstanding the foregoing, a "Change in Control" of the Bank or the Company shall not be deemed to have occurred in connection with the conversion of Jacksonville Bancorp, MHC to stock form.

For these purposes, "Incumbent Board" means, in the case of the Company or the Bank, the Board of Directors of the Company or the Bank, respectively, on the date hereof, provided that any person becoming a director subsequent to the

date hereof whose election was approved by a vote of at least three-quarters of the directors comprising the Incumbent Board, or whose nomination for election by members or stockholders was approved by the same nominating committee serving under an Incumbent Board, shall be considered as though he were a member of the Incumbent Board.

(b) If any of the events described in Section 5(a) hereof constituting a Change in Control have occurred, Executive shall be entitled to the benefits provided in paragraphs (c), (d), (e), (f), (g) and (h) of this Section 5 upon his subsequent termination of employment at any time during the term of this Agreement, regardless of whether such termination results from (i) his resignation or (ii) his dismissal upon the Change in Control.

(c) Upon the occurrence of a Change in Control followed by the Executive's termination of employment, the Bank shall pay Executive, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, as severance pay or liquidated damages, or both, a sum equal to the greater of the payments due for the remaining term of the Agreement or 2.99 times the average of the five preceding years' Base Salary, including bonuses and any other cash compensation paid to the Executive during such years, and the amount of any contributions made to any employee benefit plans, on behalf of the Executive, maintained by the Bank during such years. Such payment shall be made by the Bank on the Date of Termination. All payments shall be made to the Executive in a single cash lump-sum distribution within thirty (30) days following the Executive's Date of Termination, provided however, if Executive is a "Specified Employee," as defined in Treasury Regulation 1.409A-1(i), then, solely to the extent required to avoid penalties under Code Section 409A, such payment shall be delayed until the first day of the seventh full month following the Executive's Date of Termination.

(d) For the purposes of this Section 5, "termination of employment" shall be construed to require a "Separation from Service" as defined in Code Section 409A and the Treasury Regulations promulgated thereunder, such that the Bank and Executive reasonably anticipate that the level of bona fide services the Executive would perform after termination would permanently decrease to a level that is less than 50% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period.

(e) Upon the occurrence of a Change in Control followed by the Executive's termination of employment, the Bank will cause to be continued life insurance and nontaxable medical and dental coverage substantially identical to the coverage maintained by the Bank for Executive prior to his severance. Such coverage and payments shall cease upon the expiration of thirty-six (36) months.

(f) Upon the occurrence of a Change in Control, Executive will be entitled to any benefits granted to him pursuant to any Stock Option Plan of the Bank or Company.

(g) Upon the occurrence of a Change in Control the Executive will be entitled to any benefits awarded to him under the Bank's Recognition and Retention Plan or any restricted stock plan in effect.

(h) Notwithstanding the preceding paragraphs of this Section 5, if the aggregate payments or benefits to be made or afforded to Executive under said paragraphs would be deemed to include an "excess parachute payment" under
Section 280G of the Code or any successor thereto, the Executive's benefits will be reduced to an amount, the value of which is one dollar ($1.00) less than an

amount equal to three (3) times Executive's "base amount", as determined in accordance with said Section 280G. In the event a reduction is necessary, then the cash severance payable by the Bank pursuant to Section 5 hereof shall be reduced by the minimum amount necessary to result in no portion of the payments and benefits payable by the Bank under Section 5 being non-deductible to the Bank pursuant to Section 280G of the Code and subject to excise tax imposed under Section 4999 of the Code.

(i) Notwithstanding the foregoing, there will be no reduction in the compensation otherwise payable to Executive during any period during which Executive is incapable of performing his duties hereunder by reason of temporary disability.

(j) Any payments made to Executive pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C. ss. 1828(k) and any applicable regulations promulgated thereunder.

6. TERMINATION UPON RETIREMENT, DISABILITY, OR DEATH

(a) Termination by the Bank of the Executive based on "Retirement" shall mean termination in accordance with the Bank's retirement policy or in accordance with any retirement arrangement established with the Executive's consent with respect to him. Upon termination of employment upon Retirement, Executive shall be entitled to all benefits under any retirement plan of the Bank and other plans to which the Executive is a party.

(b) Termination by the Bank of the Executive's employment based on "Disability" shall mean termination because (i) Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months; (ii) Executive is, by reason of any medically determinable physical or mental impairment that can be expected to result in death, or last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Bank; or (iii) Executive is determined to be totally disabled by the Social Security Administration. In the event Executive is determined to be Disabled, the Bank may terminate this Agreement, provided that the Bank shall continue to be obligated to pay Executive his Base Salary, including bonuses and any other cash compensation paid to Executive during such period for the remaining term of this Agreement, or one (1) year, whichever is the longer period of time, in accordance with the regular payroll practices of the Bank, and provided further that any amounts actually paid to Executive pursuant to any disability insurance or other similar such program which the Bank has provided or may provide on behalf of its employees or pursuant to any workman's or social security disability program shall reduce the compensation to be paid to Executive pursuant to this paragraph.

(c) In the event of Executive's death during the term of this Agreement, his estate, legal representatives or named beneficiaries (as directed by Executive in writing) shall be paid Executive's Base Salary at the rate in effect at the time of Executive's death for a period of one (1) year from the

date of Executive's death, and the Bank will continue to provide continued non-taxable medical, dental, family and other benefits normally provided for Executive's family for one (1) year after Executive's death.

7. TERMINATION FOR CAUSE

The term "Termination for Cause" shall mean termination because of the Executive's personal dishonesty, incompetence, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement. In determining incompetence, the acts or omissions shall be measured against standards generally prevailing in the savings institutions industry. For purposes of this paragraph, no act or failure to act on the part of Executive shall be considered "willful" unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that the Executive's action or omission was in the best interest of the Bank. Notwithstanding the foregoing, Executive shall not be deemed to have been Terminated for Cause unless and until there shall have been delivered to him a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, Executive was guilty of conduct justifying Termination for Cause and specifying the particulars thereof in detail. The Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause. Any stock options granted to Executive under any stock option plan of the Bank, the Company or any subsidiary or affiliate thereof, shall not be exercisable upon Executive's receipt of Notice of Termination for Cause pursuant to Section 8 hereof, and shall be null and void subsequent to Executive's Termination for Cause, unless such Termination for Cause is found to be wrongful or such dispute is otherwise decided in Executive's favor, as set forth in Section 8(c) hereof.

8. NOTICE

(a) Any purported termination by the Bank or by Executive shall be communicated by Notice of Termination to the other party hereto. For purposes of this Agreement, a "Notice of Termination" shall mean a written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive's employment under the provision so indicated.

(b) "Date of Termination" shall mean the date specified in the Notice of Termination (which, in the case of a Termination for Cause, shall not be less than thirty (30) days from the date such Notice of Termination is given).

(c) If, within thirty (30) days after any Notice of Termination is given, the party receiving such Notice of Termination notifies the other party that a dispute exists concerning the termination, except upon the occurrence of a Change in Control and voluntary termination by the Executive, in which case the Date of Termination shall be the date specified in the Notice, the Date of Termination shall be the date on which the dispute is finally determined, either by mutual written agreement of the parties, by a binding arbitration award, or by a final judgment, order or decree of a court of competent jurisdiction (the

time for appeal having expired and no appeal having been perfected) and provided further that the Date of Termination shall be extended by a notice of dispute only if such notice is given in good faith and the party giving such notice pursues the resolution of such dispute with reasonable diligence. Notwithstanding the pendency of any such dispute, the Bank will continue to pay Executive his full compensation in effect when the notice giving rise to the dispute was given (including, but not limited to, Base Salary) and continue Executive as a participant in all compensation, benefit and insurance plans in which he was participating when the notice of dispute was given, until the dispute is finally resolved in accordance with this Agreement, provided such dispute is resolved within nine (9) months after the Date of Termination specified in the Notice or Termination; notwithstanding the foregoing no compensation or benefits shall be paid to Executive in the event the Executive is Terminated for Cause. In the event that such Termination for Cause is found to have been wrongful or such dispute is otherwise decided in Executive's favor, the Executive shall be entitled to receive all compensation and benefits which accrued for up to a period of nine (9) months after the Termination for Cause, and such amount shall be paid promptly by the Bank and in any event no later than March 15 of the year immediately following the year in which the matter was resolved. If such dispute is not resolved within such nine-month period, the Bank shall not be obligated, upon final resolution of such dispute, to pay Executive compensation and other payments accruing more than nine months from the Date of the Termination specified in the Notice of Termination. Amounts paid under this Section are in addition to all other amounts due under this Agreement and shall not be offset against or reduce any other amounts due under this Agreement.

9. POST-TERMINATION OBLIGATIONS

(a) All payments and benefits to Executive under this Agreement shall be subject to Executive's compliance with paragraph (b) of this Section 9 during the term of this Agreement and for one (1) full year after the expiration or termination hereof.

(b) Executive shall, upon reasonable notice, furnish such information and assistance to the Bank as may reasonably be required by the Bank in connection with any litigation in which it or any of its subsidiaries or affiliates is, or may become, a party.

10. NON-COMPETITION

(a) Upon any termination of Executive's employment hereunder pursuant to
Section 4(c) hereof, Executive agrees not to compete with the Bank and/or the Company for a period of one (1) year following such termination in any city, town or county in which the Bank and/or the Company has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Executive agrees that during such period and within said cities, towns and counties, Executive shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other business activities of the Bank and/or the Company. The parties hereto, recognizing that irreparable injury will result to the Bank and/or the Company, its business and property in the event of Executive's breach of this Subsection 10(a) agree that in the event of any such breach by Executive, the Bank and/or the Company will be entitled, in addition to any other remedies and damages

available, to an injunction to restrain the violation hereof by Executive, Executive's partners, agents, servants, employers, employees and all persons acting for or with Executive. Nothing herein will be construed as prohibiting the Bank and/or the Company from pursuing any other remedies available to the Bank and/or the Company for such breach or threatened breach, including the recovery of damages from Executive.

(b) Executive recognizes and acknowledges that the knowledge of the business activities and plans for business activities of the Bank and affiliates thereof, as it may exist from time to time, is a valuable, special and unique asset of the business of the Bank. Executive will not, during or after the term of his employment, disclose any knowledge of the past, present, planned or considered business activities of the Bank or affiliates thereof to any person, firm, corporation, or other entity for any reason or purpose whatsoever. Notwithstanding the foregoing, Executive may disclose any knowledge of banking, financial and/or economic principles, concepts or ideas which are not solely and exclusively derived from the business plans and activities of the Bank, and Executive may disclose any information regarding the Bank or the Company which is otherwise publicly available. In the event of a breach or threatened breach by the Executive of the provisions of this Section 10, the Bank will be entitled to an injunction restraining Executive from disclosing, in whole or in part, the knowledge of the past, present, planned or considered business activities of the Bank or affiliates thereof, or from rendering any services to any person, firm, corporation, other entity to whom such knowledge, in whole or in part, has been disclosed or is threatened to be disclosed. Nothing herein will be construed as prohibiting the Bank from pursuing any other remedies available to the Bank for such breach or threatened breach, including the recovery of damages from Executive.

11. SOURCE OF PAYMENTS

All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Bank. The Company, however, guarantees payment and provision of all amounts and benefits due hereunder to Executive and, if such amounts and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid or provided by the Company.

12. EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS

This Agreement contains the entire understanding between the parties hereto and supersedes any prior employment agreement between the Bank or any predecessor of the Bank and Executive, except that this Agreement shall not affect or operate to reduce any benefit or compensation inuring to the Executive of a kind elsewhere provided. No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits than those available to him without reference to this Agreement.

13. NO ATTACHMENT

(a) Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to affect any such action shall be null, void, and of no effect.

(b) This Agreement shall be binding upon, and inure to the benefit of, Executive and the Bank and their respective successors and assigns.

14. MODIFICATION AND WAIVER

(a) This Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto.

(b) No term or condition of this Agreement shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future as to any act other than that specifically waived.

15. REQUIRED PROVISIONS

(a) Notwithstanding anything herein contained to the contrary, any payments to the Executive by the Company are subject to and conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. ss. 1828(k), and the regulations promulgated thereunder in 12 C.F.R. Part 359.

16. SEVERABILITY

If, for any reason, any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the full extent consistent with law continue in full force and effect.

17. HEADINGS FOR REFERENCE ONLY

The headings of sections and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement.

18. GOVERNING LAW

This Agreement shall be governed by the laws of the State of Illinois, but only to the extent not superseded by federal law.

19. ARBITRATION

Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration in accordance with the rules of the American Arbitration Association then in effect. Judgment may be

entered on the arbitrator's award in any court having jurisdiction; provided, however, that Executive shall be entitled to seek specific performance of his right to be paid until the Date of Termination during the pendency of any dispute or controversy arising under or in connection with this Agreement.

20. PAYMENT OF LEGAL FEES

All reasonable legal fees paid or incurred by Executive pursuant to any dispute or question of interpretation relating to this Agreement shall be paid or reimbursed by the Bank, provided that the dispute or interpretation has been settled by Executive and the Bank or resolved in the Executive's favor, and such payment or reimbursement shall occur no later than two and one-half months after the dispute is settled or resolved in the Executive's favor.

21. INDEMNIFICATION

The Bank shall provide Executive (including his heirs, executors and administrators) with coverage under a standard directors' and officers' liability insurance policy at its expense, or in lieu thereof, shall indemnify Executive (and his heirs, executors and administrators) to the fullest extent permitted under federal law against all expenses and liabilities reasonably incurred by him in connection with or arising out of any action, suit or proceeding in which he may be involved by reason of his having been a director or officer of the Bank (whether or not he continues to be a director or officer at the time of incurring such expenses or liabilities), such expenses and liabilities to include, but not be limited to, judgments, court costs and attorneys' fees and the cost of reasonable settlements (such settlements must be approved by the Board of Directors of the Bank). If such action, suit or proceeding is brought against Executive in his capacity as an officer or director of the Bank, however, such indemnification shall not extend to matters as to which Executive is finally adjudged to be liable for willful misconduct in the performance of his duties. No Indemnification shall be paid that would violate 12 U.S.C. ss. 1828(k) or any regulations promulgated thereunder.

22. SUCCESSOR TO THE BANK

The Bank shall require any successor or assignee, whether direct or indirect, by purchase, merger, consolidation or otherwise, to all or substantially all the business or assets of the Bank or the Company, expressly and unconditionally to assume and agree to perform the Bank's obligations under this Agreement, in the same manner and to the same extent that the Bank would be required to perform if no such succession or assignment had taken place.

SIGNATURES

IN WITNESS WHEREOF, the Bank has caused this Agreement to be executed and their seals to be affixed hereunto by its duly authorized officer, and Executive has signed this Agreement, on the day and date first above written.

JACKSONVILLE SAVINGS BANK

September 2, 2008                            By:    /s/ Andrew F. Applebee
--------------------------------                    ----------------------------
Date                                                Chairman of the Board

EXECUTIVE

September 2, 2008                            By:    /s/ Richard A. Foss
--------------------------------                    ----------------------------
Date                                                Richard A. Foss

JACKSONVILLE SAVINGS BANK
SALARY CONTINUATION PLAN 2

This SALARY CONTINUATION PLAN 2 (this "Plan") is adopted this 2nd day of September 2008, by Jacksonville Savings Bank, a state-chartered savings bank located in Jacksonville, Illinois (the "Company").

The purpose of this Plan is to provide specified benefits to eligible Participants, members of a select group of management or highly compensated employees who contribute materially to the continued growth, development and future business success of the Company. This Plan shall be unfunded for tax purposes and for purposes of Title I of the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended from time to time.

Article 1 Definitions

Whenever used in this Plan, the following words and phrases shall have the meanings specified:

1.1 "Account Value" means the amount shown on a Participant's Schedule A under the heading Account Value. The parties expressly acknowledge that the Account Value may be different than the liability that should be accrued by the Company, under Generally Accepted Accounting Principles ("GAAP"), for the Company's obligation to the Participant under this Plan. The Account Value on any date other than the end of a Plan Year shall be determined by adding the prorated increase attributable for the current Plan Year to the Account Value for the previous Plan Year.

1.2 "Beneficiary" means each designated person or entity, or the estate of the deceased Participant, entitled to any benefits upon the death of the Participant pursuant to Article 4.

1.3 "Beneficiary Designation Form" means the form established from time to time by the Plan Administrator that the Participant completes, signs and returns to the Plan Administrator to designate one or more Beneficiaries.

1.4 "Board" means the Board of Directors of the Company as from time to time constituted.

1.5 "Change in Control" means a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company, as such change is defined in Code Section 409A and regulations thereunder.

1.6 "Code" means the Internal Revenue Code of 1986, as amended, and all regulations and guidance thereunder, including such regulations and guidance as may be promulgated after the Effective Date.

1.7 "Disability" means the Participant: (i) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or

can be expected to last for a continuous period of not less than twelve
(12) months; or (ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees or directors of the Company. Medical determination of Disability may be made by either the Social Security Administration or by the provider of an accident or health plan covering employees or directors of the Company, provided that the definition of "disability" applied under such insurance program complies with the requirements of the preceding sentence. Upon the request of the Plan Administrator, the Participant must submit proof to the Plan Administrator of the Social Security Administration's or the provider's determination.

1.8 "Early Retirement" means Separation from Service after Early Retirement Age and before Normal Retirement Age.

1.9 "Early Retirement Age" means the Participant attaining age fifty-five (55) and completing five (5) Years of Service.

1.10 "Effective Date" means January 1, 2008.

1.11 "Normal Retirement Age" means the Participant attaining age sixty-five (65).

1.12 "Normal Retirement Date" means the later of Normal Retirement Age or Separation from Service.

1.13 "Participant" means an employee of the Company (i) who is selected to participate in the Plan, (ii) who elects to participate in the Plan, (iii) who signs a Participation Agreement and a Beneficiary Designation Form,
(iv) whose signed Participation Agreement and Beneficiary Designation Form are accepted by the Plan Administrator, (v) who commences participation in the Plan, and (vi) whose Participation has not terminated.

1.14 "Participation Agreement" means the form established from time to time by the Plan Administrator that the Participant completes, signs and returns to the Plan Administrator to acknowledge participation in the Plan.

1.15 "Plan Administrator" means the Board or such committee or person as the Board shall appoint.

1.16 "Plan Year" means each twelve (12) month period commencing on January 1 and ending on December 31 of each year. The initial Plan Year shall commence on the Effective Date of this Plan and end on the following December 31.

1.17 "Schedule A" means the schedule attached to a Participant's Participation Agreement and made a part hereof. Schedule A shall be updated upon a change in any of the benefits under Articles 3 or 4.

1.18 "Separation from Service" means termination of the Participant's employment with the Company for reasons other than death or Disability. Whether a Separation from Service has occurred is determined based on whether the facts and circumstances indicate that the Company and Participant reasonably anticipated that no further services would be performed after a certain date or that the level of bona fide services the Participant would perform after such date (whether as an employee or as an independent contractor) would permanently decrease to no more than fifty percent (50%) of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding thirty-six (36) month period (or the full period of services to the Company if the Participant has been providing services to the Company less than thirty-six (36) months).

1.19 "Specified Employee" means an employee who at the time of Separation from Service is a key employee of the Company, if any stock of the Company is publicly traded on an established securities market or otherwise. For purposes of this Plan, an employee is a key employee if the employee meets the requirements of Code Section 416(i)(1)(A)(i), (ii), or (iii) (applied in accordance with the regulations thereunder and disregarding section
416(i)(5)) at any time during the twelve (12) month period ending on December 31 (the "identification period"). If the employee is a key employee during an identification period, the employee is treated as a key employee for purposes of this Plan during the twelve (12) month period that begins on the first day of April following the close of the identification period.

1.20 "Termination for Cause" shall have the meaning set forth in Article 6.

1.21 "Years of Service" means the twelve (12) consecutive month period beginning on the Participant's date of hire and any twelve (120 month anniversary thereof during the entirety of which time the Participant is an employee of the Company. Service with a subsidiary or other entity controlled by the Company before the time such entity became a subsidiary or under such control shall not be considered "credited service."

Article 2 Eligibility and Participation

2.1 Selection by Plan Administrator. Participation in the Plan shall be limited to a select group of management and highly compensated employees as determined by the Plan Administrator in its sole discretion. From that group, the Plan Administrator shall select, in its sole discretion, employees to participate in the Plan.

2.2 Enrollment Requirements. As a condition to participation, each selected employee shall complete, execute and return to the Plan Administrator a Participation Agreement and a Beneficiary Designation Form. In addition, the Plan Administrator may establish from time to time such other enrollment requirements as it determines in its sole discretion are necessary.

2.3 Eligibility; Commencement of Participation. Provided an employee selected to participate in the Plan has met all enrollment requirements set forth in this Plan and required by the Plan Administrator, that employee will be covered by the Plan and will be eligible to receive benefits at the time and in the manner provided hereunder, subject to the provisions of the Plan and the Participant's Participation Agreement.

2.4 Termination of Participation and/or Eligibility. If the Plan Administrator determines in good faith that a Participant no longer qualifies as a member of a select group of management or highly compensated employees, as membership in such group is determined in accordance with Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, the Plan Administrator shall have the right, in its sole discretion, to (i) prevent the Participant from accruing additional benefits hereunder, and/or (ii) terminate the Participant's participation in the Plan.

Article 3 Distributions During Lifetime

3.1 Normal Retirement Benefit. Upon the Normal Retirement Date, the Company shall distribute to the Participant the benefit described in this Section 3.1 in lieu of any other benefit under this Article.

3.1.1 Amount of Benefit. The annual benefit under this Section 3.1 is the amount shown on the Participant's Participation Agreement.

3.1.2 Distribution of Benefit. The Company shall distribute the annual benefit to the Participant in twelve (12) equal monthly installments commencing on the first day of the month following the Normal Retirement Date. The annual benefit shall be distributed to the Participant for ten (10) years.

3.2 Early Retirement Benefit. If Early Retirement occurs, the Company shall distribute to the Participant the benefit described in this Section 3.2 in lieu of any other benefit under this Article.

3.2.1 Amount of Benefit. The benefit under this Section 3.2 is the Account Value determined as of the end of the month preceding Separation from Service, subject to the vesting percentage shown on the Participant's Participation Agreement.

3.2.2 Distribution of Benefit. The Company shall distribute the benefit to the Participant one hundred twenty (120) equal monthly installments commencing on the first day of the month following Separation from Service.

3.3 Disability Benefit. If the Participant experiences a Disability which results in Separation from Service prior to Early Retirement Age, the Company shall distribute to the Participant the benefit described in this
Section 3.3 in lieu of any other benefit under this Article.

3.3.1 Amount of Benefit. The benefit under this Section 3.3 is one hundred percent (100%) of the Account Value determined as of the end of the month preceding such Separation from Service.

3.3.2 Distribution of Benefit. The Company shall distribute the benefit to the Participant in one hundred twenty (120) equal monthly installments commencing on the first day of the month following Separation from Service.

3.4 Change in Control Benefit. If a Change in Control occurs followed by Separation from Service prior to Normal Retirement Age, the Company shall distribute to the Participant the benefit described in this Section 3.4 in lieu of any other benefit under this Article.

3.4.1 Amount of Benefit. The annual benefit under this Section 3.4 is the Normal Retirement Benefit amount described in Section 3.1.1.

3.4.2 Distribution of Benefit. The Company shall distribute the annual benefit to the Participant in twelve (12) monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Participant for fifteen (15) years.

3.5 Restriction on Commencement of Distributions. Notwithstanding any provision of this Plan to the contrary, if the Participant is considered a Specified Employee, the provisions of this Section 3.5 shall govern all distributions hereunder. Solely to the extent necessary to avoid penalties under Code
Section 409A, no distribution shall be made during the first six (6) months following Separation from Service. Rather, any distribution which would otherwise be paid to the Participant during such period shall be accumulated and paid to the Participant in a lump sum on the first day of the seventh month following Separation from Service. All subsequent distributions shall be paid in the manner specified.

3.6 Distributions Upon Taxation of Amounts Deferred. If, pursuant to Code
Section 409A, the Federal Insurance Contributions Act or other state, local or foreign tax, the Participant becomes subject to tax on the amounts deferred hereunder, then, the Company may make a limited distribution to the Participant in accordance with the provisions of Treasury Regulations
Section 1.409A-3(j)(vi), (vii) and (xi). Any such distribution will decrease the Participant's benefit hereunder.

3.7 Change in Form or Timing of Distributions. For distribution of benefits under this Article 3, the Participant and the Company may, subject to the terms of Section 9.1, amend this Plan to delay the timing or change the form of distributions. Any such amendment:

(a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A;
(b) must, for benefits distributable under Sections 3.1, 3.2, 3.3 and 3.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and
(c) must take effect not less than twelve (12) months after the amendment is made.

Article 4 Distribution at Death

4.1 Death During Active Service. If the Participant dies prior to Separation from Service or a Change in Control, the Company shall distribute to the Beneficiary the benefit described in this Section 4.1. This benefit shall be distributed in lieu of any benefit under Article 3.

4.1.1 Amount of Benefit. The benefit under this Section 4.1 is the Normal Retirement Benefit amount described in Section 3.1.1.

4.1.2 Distribution of Benefit. The Company shall distribute the benefit to the Beneficiary in twelve (12) equal monthly installments for ten (10) years commencing on the first day of the fourth month following the Participant's death. The Beneficiary shall be required to provide to the Company the Participant's death certificate.

4.2 Death During Distribution of a Benefit. If the Participant dies after any benefit distributions have commenced under this Plan but before receiving all such distributions, the Company shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Participant had the Participant survived.

4.3 Death Before Benefit Distributions Commence. If the Participant is entitled to benefit distributions under this Plan but dies prior to the commencement of said benefit distributions, the Company shall distribute to the Beneficiary the same benefits to which the Participant was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 4.1.2 and shall commence on the first day of the fourth month following the Participant's death.

Article 5 Beneficiaries

5.1 In General. The Participant shall have the right, at any time, to designate a Beneficiary to receive any benefit distributions under this Plan upon the death of the Participant. The Beneficiary designated under this Plan may be the same as or different from the beneficiary designated under any other plan of the Company in which the Participant participates.

5.2 Designation. The Participant shall designate a Beneficiary by completing and signing the Beneficiary Designation Form and delivering it to the Plan Administrator or its designated agent. If the Participant names someone other than the Participant's spouse as a Beneficiary, the Plan Administrator may, in its sole discretion, determine that spousal consent is required to be provided in a form designated by the Plan Administrator, executed by the Participant's spouse and returned to the Plan Administrator. The Participant's beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Participant or if

the Participant names a spouse as Beneficiary and the marriage is subsequently dissolved. The Participant shall have the right to change a Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Plan Administrator's rules and procedures. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Participant and accepted by the Plan Administrator prior to the Participant's death.

5.3 Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received, accepted and acknowledged in writing by the Plan Administrator or its designated agent.

5.4 No Beneficiary Designation. If the Participant dies without a valid beneficiary designation, or if all designated Beneficiaries predecease the Participant, then the Participant's spouse shall be the designated Beneficiary. If the Participant has no surviving spouse, any benefit shall be paid to the Participant's estate.

5.5 Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Participant and the Beneficiary, as the case may be, and shall completely discharge any liability under this Plan for such distribution amount.

Article 6 General Limitations

Notwithstanding any provision of this Plan to the contrary, the Company shall not pay any benefit under this Plan:

6.1 Excess Parachute Payment. To the extent allowed by Code Section 409A, if any benefit payment under this Article 3 would be treated as an "excess parachute payment" under Code Section 280G, the Company shall reduce such benefit payment to the extent necessary to avoid treating such benefit payment as an excess parachute payment.

6.2 Termination for Cause. If the Company terminates the Participant's employment for:

(a) Gross negligence or gross neglect of duties to the Company; or
(b) Conviction of a felony or of a gross misdemeanor involving moral turpitude in connection with the Participant's employment with the Company; or
(c) Fraud, disloyalty, dishonesty or willful violation of any law or significant Company policy committed in connection with the Participant's employment and resulting in a material adverse effect on the Company.

6.3 Suicide or Misstatement. If the Participant commits suicide within two (2) years after commencing participation in this plan, or if an insurance company which issued a life insurance policy covering the Participant and owned by the Company denies coverage (i) for material misstatements of fact made by the Participant on an application for such life insurance, or (ii) for any other reason.

6.4 Removal. If the Participant is subject to a final removal or prohibition order issued by an appropriate federal banking agency pursuant to Section 8(e) of the Federal Deposit Insurance Act. Notwithstanding anything herein to the contrary, any payments made to the Participant pursuant to this Plan, or otherwise, shall be subject to and conditioned upon compliance with 12 U.S.C. 1828 and FDIC Regulation 12 CFR Part 359, Golden Parachute Indemnification Payments and any other regulations or guidance promulgated thereunder.

6.5 Forfeiture Provision. The Participant shall forfeit any non-distributed benefits under this Plan if during the term of this Agreement and within twelve (12) months following a Separation from Service, the Participant, directly or indirectly, either as an individual or as a proprietor, stockholder, partner, officer, director, employee, agent, consultant or independent contractor of any individual, partnership, corporation or other entity (excluding an ownership interest of three percent (3%) or less in the stock of a publicly-traded company):

(i) becomes employed by, participates in, or becomes connected in any manner with the ownership, management, operation or control of any bank, savings and loan or other similar financial institution if the Participant's responsibilities will include providing banking or other financial services within twenty-five (25) miles of any office maintained by the Company as of the date of the termination of the Participant's employment;

(ii) participates in any way in hiring or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a temporary, part-time or permanent basis, any individual who was employed by the Company as of the date of termination of the Participant's employment;

(iii) assists, advises, or serves in any capacity, representative or otherwise, any third party in any action against the Company or transaction involving the Company;

(iv) sells, offers to sell, provides banking or other financial services, assists any other person in selling or providing banking or other financial services, or solicits or otherwise competes for, either directly or indirectly, any orders, contract, or accounts for services of a kind or nature like or substantially similar to the financial services performed or financial products sold by the Company (the preceding hereinafter referred to as "Services"), to or from any person or entity from whom the Participant or the Company, to the knowledge of the Participant provided banking or other financial services, sold, offered to sell or solicited orders, contracts or accounts for Services during the three (3) year period immediately prior to the termination of the Participant's employment;

(v) divulges, discloses, or communicates to others in any manner whatsoever, any confidential information of the Company, to the knowledge of the Participant, including, but not limited to, the names and addresses of customers or prospective customers, of the Company, as they may have existed from time to time, of work performed or services rendered for any customer, any method and/or procedures relating to projects or other work developed for the Company, earnings or other information concerning the Company. The restrictions contained in this subparagraph (v) apply to all information regarding the Company, regardless of the source that provided or compiled such information. Notwithstanding anything to the contrary, all information referred to herein shall not be disclosed unless and until it becomes known to the general public from sources other than the Participant.

6.6 Solicitation after Separation from Service. If during the period of two (2) years following the Participant's Separation from Service, the Participant, without the prior written consent of the Company, solicits any employee of the Company for the purpose of hiring such employee away from the Company, then the Participant shall forfeit any benefits under this Plan. Further, during the period of two (2) years following the Participant's Separation from Service, if the Participant, without the prior written consent of the Company, solicits any customer of the Company for the purpose of obtaining such customer's business relationship in any matter that would be deemed as competitive to the Company, then the Participant shall forfeit any benefits under this Plan.

6.7 Change in Control. The forfeiture provision detailed in Sections 6.5 and 6.6 hereof shall not be enforceable following a Change in Control.

Article 7 Claims And Review Procedures

7.1 Claims Procedure. A Participant or Beneficiary ("claimant") who has not received benefits under this Agreement that he or she believes should be distributed shall make a claim for such benefits as follows:

7.1.1 Initiation - Written Claim. The claimant initiates a claim by submitting to the Plan Administrator a written claim for the benefits. If such a claim relates to the contents of a notice received by the claimant, the claim must be made within sixty (60) days after such notice was received by the claimant. All other claims must be made within one hundred eighty (180) days of the date on which the event that caused the claim to arise occurred. The claim must state with particularity the determination desired by the claimant.

7.1.2 Timing of Plan Administrator Response. The Plan Administrator shall respond to such claimant within ninety (90) days after receiving the claim. If the Plan Administrator determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional ninety
(90) days by notifying the claimant in writing, prior to the end of the initial ninety (90) day period that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision.

7.1.3 Notice of Decision. If the Plan Administrator denies part or all of the claim, the Plan Administrator shall notify the claimant in writing of such denial. The Plan Administrator shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth:

(a) The specific reasons for the denial;

(b) A reference to the specific provisions of this Agreement on which the denial is based;

(c) A description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed;

(d) An explanation of this Agreement's review procedures and the time limits applicable to such procedures; and

(e) A statement of the claimant's right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on review.

7.2 Review Procedure. If the Plan Administrator denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the Plan Administrator of the denial as follows:

7.2.1 Initiation - Written Request. To initiate the review, the claimant, within sixty (60) days after receiving the Plan Administrator's notice of denial, must file with the Plan Administrator a written request for review.

7.2.2 Additional Submissions - Information Access. The claimant shall then have the opportunity to submit written comments, documents, records and other information relating to the claim. The Plan Administrator shall also provide the claimant, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant's claim for benefits.

7.2.3 Considerations on Review. In considering the review, the Plan Administrator shall take into account all materials and information the claimant submits relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination.

7.2.4 Timing of Plan Administrator Response. The Plan Administrator shall respond in writing to such claimant within sixty (60) days after receiving the request for review. If the Plan Administrator determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional sixty (60) days by notifying the claimant in writing, prior to the end of the initial sixty (60) day period that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision. 7.2.5 Notice of Decision. The Plan Administrator shall notify the claimant in writing of its decision on review. The Plan Administrator shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth:

(a) The specific reasons for the denial;

(b) A reference to the specific provisions of this Agreement on which the denial is based;

(c) A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant's claim for benefits; and

(d) A statement of the claimant's right to bring a civil action under ERISA Section 502(a).

Article 8 Amendments and Termination

8.1 Amendments. This Plan may be amended by the Company at any time, provided that no such amendment shall reduce or eliminate any benefit hereunder. The Company may also unilaterally amend this Plan to conform to directives to the Company from its outside counsel, auditors or banking regulators or to comply with legislative changes or tax law, including without limitation
Section 409A of the Code and any and all Treasury regulations and guidance promulgated thereunder. Any Plan amendment shall be evidenced by a resolution of the Board or shall be taken by a person authorized to act by a duly adopted resolution of the Board and written notice of Plan amendment shall be delivered to the Plan Administrator within a reasonable time.

8.2 Plan Termination Generally. This Plan may be terminated at any time by the Company. The benefit shall be the Account Value as of the date this Plan is terminated. Except as provided in Section 8.3, the termination of this Plan shall not cause a distribution of benefits under this Plan. Rather, upon such termination benefit distributions will be made at the earliest distribution event permitted under Article 2 or Article 3.

8.3 Plan Terminations Under Code Section 409A. Notwithstanding anything to the contrary in Section 8.2, if the Company terminates this Plan in the following circumstances:

(a) Within thirty (30) days before or twelve (12) months after a Change in Control, provided that all distributions are made no later than twelve
(12) months following such termination of this Plan and further provided that all the Company's arrangements which are substantially similar to this Plan are terminated so the Participant and all participants in the similar arrangements are required to receive all amounts of compensation deferred under the terminated arrangements within twelve (12) months of such termination;

(b) Upon the Company's dissolution or with the approval of a bankruptcy court provided that the amounts deferred under this Plan are included in the Participant's gross income in the latest of (i) the calendar

year in which this Plan terminates; (ii) the calendar year in which the amount is no longer subject to a substantial risk of forfeiture; or (iii) the first calendar year in which the distribution is administratively practical; or

(c) Upon the Company's termination of this and all other arrangements that would be aggregated with this Plan pursuant to Treasury Regulations
Section 1.409A-1(c) if the Participant participated in such arrangements ("Similar Arrangements"), provided that (i) the termination and liquidation does not occur proximate to a downturn in the financial health of the Company, (ii) all termination distributions are made no earlier than twelve (12) months and no later than twenty-four (24) months following such termination, and (iii) the Company does not adopt any new arrangement that would be a Similar Arrangement for a minimum of three (3) years following the date the Company takes all necessary action to irrevocably terminate and liquidate the Plan;

the Company may distribute the Account Value, determined as of the date of the termination of this Plan, to the Participant in a lump sum subject to the above terms.

Article 9 Administration of Plan

9.1 Plan Administrator Duties. The Plan Administrator shall administer this Plan according to its express terms and shall also have the discretion and authority to (i) make, amend, interpret and enforce all appropriate rules and regulations for the administration of this Plan and (ii) decide or resolve any and all questions, including interpretations of this Plan, as may arise in connection with this Plan to the extent the exercise of such discretion and authority does not conflict with Code Section 409A.

9.2 Agents. In the administration of this Plan, the Plan Administrator may employ agents and delegate to them such administrative duties as the Plan Administrator sees fit, including acting through a duly appointed representative, and may from time to time consult with counsel who may be counsel to the Company.

9.3 Binding Effect of Decisions. Any decision or action of the Plan Administrator with respect to any question arising out of or in connection with the administration, interpretation or application of this Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in this Plan.

9.4 Indemnity of Plan Administrator. The Company shall indemnify and hold harmless the Plan Administrator against any and all claims, losses, damages, expenses or liabilities arising from any action or failure to act with respect to this Plan, except in the case of willful misconduct by the Plan Administrator.

9.5 Company Information. To enable the Plan Administrator to perform its functions, the Company shall supply full and timely information to the Plan Administrator on all matters relating to the date and circumstances of the Participant's death, Disability or Separation from Service, and such other pertinent information as the Plan Administrator may reasonably require.

9.6 Annual Statement. The Plan Administrator shall provide to the Participant, within one hundred twenty (120) days after the end of each Plan Year, a statement setting forth the benefits to be distributed under this Plan.

Article 10 Miscellaneous

10.1 Binding Effect. This Plan shall bind the Participant and the Company and their beneficiaries, survivors, executors, administrators and transferees.

10.2 No Guarantee of Employment. This Plan is not a contract for employment. It does not give the Participant the right to remain as an employee of the Company nor interfere with the Company's right to discharge the Participant. It does not require the Participant to remain an employee nor interfere with the Participant's right to terminate employment at any time.

10.3 Non-Transferability. Benefits under this Plan cannot be sold, transferred, assigned, pledged, attached or encumbered in any manner.

10.4 Tax Withholding and Reporting. The Company shall withhold any taxes that are required to be withheld, including but not limited to taxes owed under Code Section 409A from the benefits provided under this Plan. The Company's sole liability regarding taxes is to forward any amounts withheld to the appropriate taxing authorities. The Company shall satisfy all applicable reporting requirements, including those under Code Section 409A.

10.5 Applicable Law. This Plan and all rights hereunder shall be governed by the laws of the State of Illinois, except to the extent preempted by the laws of the United States of America.

10.6 Unfunded Arrangement. The Participant and the Beneficiary are general unsecured creditors of the Company for the distribution of benefits under this Plan. The benefits represent the mere promise by the Company to distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors. Any insurance on the Participant's life or other informal funding asset is a general asset of the Company to which the Participant and Beneficiary have no preferred or secured claim.

10.7 Reorganization. The Company shall not merge or consolidate into or with another bank, or reorganize, or sell substantially all of its assets to another bank, firm or person unless such succeeding or continuing bank, firm or person agrees to assume and discharge the obligations of the Company under this Plan. Upon the occurrence of such an event, the term "Company" as used in this Plan shall be deemed to refer to the successor or survivor entity.

10.8 Entire Plan. No rights are granted to the Participant by virtue of this Plan other than those specifically set forth herein.

10.9 Interpretation. Wherever the fulfillment of the intent and purpose of this Plan requires and the context will permit, the use of the masculine gender includes the feminine and use of the singular includes the plural.

10.10 Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this Plan due to regulatory or other constraints, the Company or Plan Administrator may perform such alternative act as most nearly carries out the intent and purpose of this Plan and is in the best interests of the Company, provided that such alternative act does not violate Code Section 409A.

10.11 Headings. Article and section headings are for convenient reference only and shall not control or affect the meaning or construction of any provision herein.

10.12 Validity. If any provision of this Plan shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal or invalid provision had never been included herein.

10.13 Notice. Any notice or filing required or permitted to be given to the Company or Plan Administrator under this Plan shall be sufficient if in writing and hand-delivered or sent by registered or certified mail to the address below:

Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification.

Any notice or filing required or permitted to be given to the Participant under this Plan shall be sufficient if in writing and hand-delivered or sent by mail to the last known address of the Participant.

10.14 Compliance with Section 409A. This Plan shall be interpreted and administered consistent with Code Section 409A.

IN WITNESS WHEREOF, a duly authorized representative of the Company has signed this Plan.

JACKSONVILLE SAVINGS BANK

September 2, 2008                   By:    /s/ Richard A. Foss
Date                                       ----------------------------
                                    Title: President and Chief Executive Officer

PARTICIPATION AGREEMENT

THIS PARTICIPATION AGREEMENT (this "Agreement") is entered into as of __________ 20____ between Jacksonville Savings Bank, (the "Company") and [NAME OF PARTICIPANT] (the "Participant").

RECITALS

1. The Participant is a member of a select group of management or highly compensated Employees of the Company and the Company desires to have the continued services and counsel of the Participant.

2. The Company has adopted, effective ___________, _____, the Jacksonville Savings Bank Salary Continuation Plan 2 (the "Plan"), as amended from time to time, and the Participant has been selected to participate in the Plan.

3. The Participant desires to participate in the Plan.

4. The Early Retirement Benefit in Section 3.2.1 is subject to the following vesting schedule:

--------------------------------------------------------------------------.

5. The amount of the Normal Retirement Benefit in Section 3.1.1 is ___________ Dollars ($xx,xxx).

AGREEMENT

NOW THEREFORE, it is mutually agreed that:

1. Definitions. Unless otherwise provided in this Agreement, the capitalized terms in this Agreement shall have the same meaning as under the Plan.

2. Integrated Agreement: Parties Bound. The Plan, a copy of which has been made available to the Participant, is hereby incorporated into and made a part of this Agreement as though set forth in full in this Agreement. The parties to this Agreement agree to and shall be bound by, and have the benefit of, each and every provision of the Plan as set forth in the Plan. This Agreement and the Plan, collectively, shall be considered one complete contract between the parties.

3. Acknowledgment. The Participant hereby acknowledges that he or she has read and understands this Agreement and the Plan.

4. Conditions to Participation. As a condition to participation in the Plan, the Participant must complete, sign, date and return to the Plan Administrator an original copy of this Agreement, a Beneficiary Designation, and any other forms required by the Plan Administrator.

IN WITNESS WHEREOF, the Participant has signed and the Company has accepted this Participation Agreement, as of the date first written above.

PARTICIPANT Date _________

JACKSONVILLE SAVINGS BANK
SALARY CONTINUATION PLAN 1

This SALARY CONTINUATION PLAN 1 (this "Plan") is adopted this 2nd day of September 2008, by Jacksonville Savings Bank, a state-chartered savings bank located in Jacksonville, Illinois (the "Company").

The purpose of this Plan is to provide specified benefits to eligible Participants, members of a select group of management or highly compensated employees who contribute materially to the continued growth, development and future business success of the Company. This Plan shall be unfunded for tax purposes and for purposes of Title I of the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended from time to time.

Article 1 Definitions

Whenever used in this Plan, the following words and phrases shall have the meanings specified:

1.1 "Account Value" means the amount shown on a Participant's Schedule A under the heading Account Value. The parties expressly acknowledge that the Account Value may be different than the liability that should be accrued by the Company, under Generally Accepted Accounting Principles ("GAAP"), for the Company's obligation to the Participant under this Plan. The Account Value on any date other than the end of a Plan Year shall be determined by adding the prorated increase attributable for the current Plan Year to the Account Value for the previous Plan Year.

1.2 "Beneficiary" means each designated person or entity, or the estate of the deceased Participant, entitled to any benefits upon the death of the Participant pursuant to Article 4.

1.3 "Beneficiary Designation Form" means the form established from time to time by the Plan Administrator that the Participant completes, signs and returns to the Plan Administrator to designate one or more Beneficiaries.

1.4 "Board" means the Board of Directors of the Company as from time to time constituted.

1.5 "Change in Control" means a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company, as such change is defined in Code Section 409A and regulations thereunder.

1.6 "Code" means the Internal Revenue Code of 1986, as amended, and all regulations and guidance thereunder, including such regulations and guidance as may be promulgated after the Effective Date.

1.7 "Disability" means the Participant: (i) is unable to engage in any substantial gainful activity by reason of any medically determinable

physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve
(12) months; or (ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees or directors of the Company. Medical determination of Disability may be made by either the Social Security Administration or by the provider of an accident or health plan covering employees or directors of the Company, provided that the definition of "disability" applied under such insurance program complies with the requirements of the preceding sentence. Upon the request of the Plan Administrator, the Participant must submit proof to the Plan Administrator of the Social Security Administration's or the provider's determination.

1.8 "Early Retirement" means Separation from Service after Early Retirement Age and before Normal Retirement Age.

1.9 "Early Retirement Age" means the Participant attaining age fifty-five (55) and completing five (5) Years of Service.

1.10 "Effective Date" means January 1, 2008.

1.11 "Normal Retirement Age" means the Participant attaining age sixty-five (65).

1.12 "Normal Retirement Date" means the later of Normal Retirement Age or Separation from Service.

1.13 "Participant" means an employee of the Company (i) who is selected to participate in the Plan, (ii) who elects to participate in the Plan, (iii) who signs a Participation Agreement and a Beneficiary Designation Form,
(iv) whose signed Participation Agreement and Beneficiary Designation Form are accepted by the Plan Administrator, (v) who commences participation in the Plan, and (vi) whose Participation has not terminated.

1.14 "Participation Agreement" means the form established from time to time by the Plan Administrator that the Participant completes, signs and returns to the Plan Administrator to acknowledge participation in the Plan.

1.15 "Plan Administrator" means the Board or such committee or person as the Board shall appoint.

1.16 "Plan Year" means each twelve (12) month period commencing on January 1 and ending on December 31 of each year. The initial Plan Year shall commence on the Effective Date of this Plan and end on the following December 31.

1.17 "Schedule A" means the schedule attached to a Participant's Participation Agreement and made a part hereof. Schedule A shall be updated upon a change in any of the benefits under Articles 3 or 4.

1.18 "Separation from Service" means termination of the Participant's employment with the Company for reasons other than death or Disability. Whether a Separation from Service has occurred is determined based on whether the facts and circumstances indicate that the Company and Participant reasonably anticipated that no further services would be performed after a certain date or that the level of bona fide services the Participant would perform after such date (whether as an employee or as an independent contractor) would permanently decrease to no more than fifty percent (50%) of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding thirty-six (36) month period (or the full period of services to the Company if the Participant has been providing services to the Company less than thirty-six (36) months).

1.19 "Specified Employee" means an employee who at the time of Separation from Service is a key employee of the Company, if any stock of the Company is publicly traded on an established securities market or otherwise. For purposes of this Plan, an employee is a key employee if the employee meets the requirements of Code Section 416(i)(1)(A)(i), (ii), or (iii) (applied in accordance with the regulations thereunder and disregarding section
416(i)(5)) at any time during the twelve (12) month period ending on December 31 (the "identification period"). If the employee is a key employee during an identification period, the employee is treated as a key employee for purposes of this Plan during the twelve (12) month period that begins on the first day of April following the close of the identification period.

1.20 "Termination for Cause" shall have the meaning set forth in Article 6.

1.21 "Years of Service" means the twelve (12) consecutive month period beginning on the Participant's date of hire and any twelve (120 month anniversary thereof during the entirety of which time the Participant is an employee of the Company. Service with a subsidiary or other entity controlled by the Company before the time such entity became a subsidiary or under such control shall not be considered "credited service."

Article 2 Eligibility and Participation

2.1 Selection by Plan Administrator. Participation in the Plan shall be limited to a select group of management and highly compensated employees as determined by the Plan Administrator in its sole discretion. From that group, the Plan Administrator shall select, in its sole discretion, employees to participate in the Plan.

2.2 Enrollment Requirements. As a condition to participation, each selected employee shall complete, execute and return to the Plan Administrator a Participation Agreement and a Beneficiary Designation Form. In addition, the Plan Administrator may establish from time to time such other enrollment requirements as it determines in its sole discretion are necessary.

2.3 Eligibility; Commencement of Participation. Provided an employee selected to participate in the Plan has met all enrollment requirements set forth in this Plan and required by the Plan Administrator, that employee will be covered by the Plan and will be eligible to receive benefits at the time and in the manner provided hereunder, subject to the provisions of the Plan and the Participant's Participation Agreement.

2.4 Termination of Participation and/or Eligibility. If the Plan Administrator determines in good faith that a Participant no longer qualifies as a member of a select group of management or highly compensated employees, as membership in such group is determined in accordance with Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, the Plan Administrator shall have the right, in its sole discretion, to (i) prevent the Participant from accruing additional benefits hereunder, and/or (ii) terminate the Participant's participation in the Plan.

Article 3 Distributions During Lifetime

3.1 Normal Retirement Benefit. Upon the Normal Retirement Date, the Company shall distribute to the Participant the benefit described in this Section 3.1 in lieu of any other benefit under this Article.

3.1.1 Amount of Benefit. The annual benefit under this Section 3.1 is the amount shown on the Participant's Participation Agreement.

3.1.2 Distribution of Benefit. The Company shall distribute the annual benefit to the Participant in twelve (12) equal monthly installments commencing on the first day of the month following the Normal Retirement Date. The annual benefit shall be distributed to the Participant for ten (10) years.

3.2 Early Retirement Benefit. If Early Retirement occurs, the Company shall distribute to the Participant - the benefit described in this Section 3.2 in lieu of any other benefit under this Article.

3.2.1 Amount of Benefit. The benefit under this Section 3.2 is one hundred percent (100%) of the Account Value determined as of the end of the month preceding Separation from Service.

3.2.2 Distribution of Benefit. The Company shall distribute the benefit to the Participant one hundred twenty (120) equal monthly installments commencing on the first day of the month following Separation from Service.

3.3 Disability Benefit. If the Participant experiences a Disability which results in Separation from Service prior to Early Retirement Age, the Company shall distribute to the Participant the benefit described in this
Section 3.3 in lieu of any other benefit under this Article.

3.3.1 Amount of Benefit. The benefit under this Section 3.3 is one hundred percent (100%) of the Account Value determined as of the end of the month preceding such Separation from Service.

3.3.2 Distribution of Benefit. The Company shall distribute the benefit to the Participant in one hundred twenty (120) equal monthly installments commencing on the first day of the month following Separation from Service.

3.4 Change in Control Benefit. If a Change in Control occurs followed by Separation from Service prior to Normal Retirement Age, the Company shall distribute to the Participant the benefit described in this Section 3.4 in lieu of any other benefit under this Article.

3.4.1 Amount of Benefit. The annual benefit under this Section 3.4 is the Normal Retirement Benefit amount described in Section 3.1.1.

3.4.2 Distribution of Benefit. The Company shall distribute the annual benefit to the Participant in twelve (12) monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Participant for fifteen (15) years.

3.5 Restriction on Commencement of Distributions. Notwithstanding any provision of this Plan to the contrary, if the Participant is considered a Specified Employee, the provisions of this Section 3.5 shall govern all distributions hereunder. Solely to the extent necessary to avoid penalties under Code
Section 409A, no distribution shall be made during the first six (6) months following Separation from Service. Rather, any distribution which would otherwise be paid to the Participant during such period shall be accumulated and paid to the Participant in a lump sum on the first day of the seventh month following Separation from Service. All subsequent distributions shall be paid in the manner specified.

3.6 Distributions Upon Taxation of Amounts Deferred. If, pursuant to Code
Section 409A, the Federal Insurance Contributions Act or other state, local or foreign tax, the Participant becomes subject to tax on the amounts deferred hereunder, then, the Company may make a limited distribution to the Participant in accordance with the provisions of Treasury Regulations
Section 1.409A-3(j)(vi), (vii) and (xi). Any such distribution will decrease the Participant's benefit hereunder.

3.7 Change in Form or Timing of Distributions. For distribution of benefits under this Article 3, the Participant and the Company may, subject to the terms of Section 9.1, amend this Plan to delay the timing or change the form of distributions. Any such amendment:

(a) may not accelerate the time or schedule of any distribution, except as provided in Code Section 409A;
(b) must, for benefits distributable under Sections 3.1, 3.2, 3.3 and 3.4, delay the commencement of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made; and
(c) must take effect not less than twelve (12) months after the amendment is made.

Article 4 Distribution at Death

4.1 Death During Active Service. If the Participant dies prior to Separation from Service or a Change in Control, the Company shall distribute to the Beneficiary the benefit described in this Section 4.1. This benefit shall be distributed in lieu of any benefit under Article 3.

4.1.1 Amount of Benefit. The benefit under this Section 4.1 is the Normal Retirement Benefit amount described in Section 3.1.1.

4.1.2 Distribution of Benefit. The Company shall distribute the benefit to the Beneficiary in twelve (12) equal monthly installments for ten (10) years commencing on the first day of the fourth month following the Participant's death. The Beneficiary shall be required to provide to the Company the Participant's death certificate.

4.2 Death During Distribution of a Benefit. If the Participant dies after any benefit distributions have commenced under this Plan but before receiving all such distributions, the Company shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Participant had the Participant survived.

4.3 Death Before Benefit Distributions Commence. If the Participant is entitled to benefit distributions under this Plan but dies prior to the commencement of said benefit distributions, the Company shall distribute to the Beneficiary the same benefits to which the Participant was entitled prior to death, except that the benefit distributions shall be paid in the manner specified in Section 4.1.2 and shall commence on the first day of the fourth month following the Participant's death.

Article 5 Beneficiaries

5.1 In General. The Participant shall have the right, at any time, to designate a Beneficiary to receive any benefit distributions under this Plan upon the death of the Participant. The Beneficiary designated under this Plan may be the same as or different from the beneficiary designated under any other plan of the Company in which the Participant participates.

5.2 Designation. The Participant shall designate a Beneficiary by completing and signing the Beneficiary Designation Form and delivering it to the Plan Administrator or its designated agent. If the Participant names someone other than the Participant's spouse as a Beneficiary, the Plan Administrator may, in its sole discretion, determine that spousal consent is required to be provided in a form designated by the Plan Administrator, executed by the Participant's spouse and returned to the Plan Administrator. The Participant's beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Participant or if the Participant names a spouse as Beneficiary and the marriage is subsequently dissolved. The Participant shall have the right to change a

Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Plan Administrator's rules and procedures. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Participant and accepted by the Plan Administrator prior to the Participant's death.

5.3 Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received, accepted and acknowledged in writing by the Plan Administrator or its designated agent.

5.4 No Beneficiary Designation. If the Participant dies without a valid beneficiary designation, or if all designated Beneficiaries predecease the Participant, then the Participant's spouse shall be the designated Beneficiary. If the Participant has no surviving spouse, any benefit shall be paid to the Participant's estate.

5.5 Facility of Distribution. If the Plan Administrator determines in its discretion that a benefit is to be distributed to a minor, to a person declared incompetent or to a person incapable of handling the disposition of that person's property, the Plan Administrator may direct distribution of such benefit to the guardian, legal representative or person having the care or custody of such minor, incompetent person or incapable person. The Plan Administrator may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any distribution of a benefit shall be a distribution for the account of the Participant and the Beneficiary, as the case may be, and shall completely discharge any liability under this Plan for such distribution amount.

Article 6 General Limitations

Notwithstanding any provision of this Plan to the contrary, the Company shall not pay any benefit under this Plan:

6.1 Excess Parachute Payment. To the extent allowed by Code Section 409A, if any benefit payment under this Article 3 would be treated as an "excess parachute payment" under Code Section 280G, the Company shall reduce such benefit payment to the extent necessary to avoid treating such benefit payment as an excess parachute payment.

6.2 Termination for Cause. If the Company terminates the Participant's employment for:

(a) Gross negligence or gross neglect of duties to the Company; or
(b) Conviction of a felony or of a gross misdemeanor involving moral turpitude in connection with the Participant's employment with the Company; or
(c) Fraud, disloyalty, dishonesty or willful violation of any law or significant Company policy committed in connection with the Participant's employment and resulting in a material adverse effect on the Company.

6.3 Suicide or Misstatement. If the Participant commits suicide within two (2)

years after commencing participation in this plan, or if an insurance company which issued a life insurance policy covering the Participant and owned by the Company denies coverage (i) for material misstatements of fact made by the Participant on an application for such life insurance, or (ii) for any other reason.

6.4 Removal. If the Participant is subject to a final removal or prohibition order issued by an appropriate federal banking agency pursuant to Section 8(e) of the Federal Deposit Insurance Act. Notwithstanding anything herein to the contrary, any payments made to the Participant pursuant to this Plan, or otherwise, shall be subject to and conditioned upon compliance with 12 U.S.C. 1828 and FDIC Regulation 12 CFR Part 359, Golden Parachute Indemnification Payments and any other regulations or guidance promulgated thereunder.

6.5 Forfeiture Provision. The Participant shall forfeit any non-distributed benefits under this Plan if during the term of this Agreement and within twelve (12) months following a Separation from Service, the Participant, directly or indirectly, either as an individual or as a proprietor, stockholder, partner, officer, director, employee, agent, consultant or independent contractor of any individual, partnership, corporation or other entity (excluding an ownership interest of three percent (3%) or less in the stock of a publicly-traded company):

(i) becomes employed by, participates in, or becomes connected in any manner with the ownership, management, operation or control of any bank, savings and loan or other similar financial institution if the Participant's responsibilities will include providing banking or other financial services within twenty-five (25) miles of any office maintained by the Company as of the date of the termination of the Participant's employment;

(ii) participates in any way in hiring or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a temporary, part-time or permanent basis, any individual who was employed by the Company as of the date of termination of the Participant's employment;

(iii) assists, advises, or serves in any capacity, representative or otherwise, any third party in any action against the Company or transaction involving the Company;

(iv) sells, offers to sell, provides banking or other financial services, assists any other person in selling or providing banking or other financial services, or solicits or otherwise competes for, either directly or indirectly, any orders, contract, or accounts for services of a kind or nature like or substantially similar to the financial services performed or financial products sold by the Company (the preceding hereinafter referred to as "Services"), to or from any person or entity from whom the Participant or the Company, to the knowledge of the Participant provided banking or other financial services, sold, offered to sell or solicited orders, contracts or accounts for Services during the three (3) year period immediately prior to the termination of the Participant's employment;

(v) divulges, discloses, or communicates to others in any manner whatsoever, any confidential information of the Company, to the knowledge of the Participant, including, but not limited to, the names and addresses

of customers or prospective customers, of the Company, as they may have existed from time to time, of work performed or services rendered for any customer, any method and/or procedures relating to projects or other work developed for the Company, earnings or other information concerning the Company. The restrictions contained in this subparagraph (v) apply to all information regarding the Company, regardless of the source that provided or compiled such information. Notwithstanding anything to the contrary, all information referred to herein shall not be disclosed unless and until it becomes known to the general public from sources other than the Participant.

6.6 Solicitation after Separation from Service. If during the period of two (2) years following the Participant's Separation from Service, the Participant, without the prior written consent of the Company, solicits any employee of the Company for the purpose of hiring such employee away from the Company, then the Participant shall forfeit any benefits under this Plan. Further, during the period of two (2) years following the Participant's Separation from Service, if the Participant, without the prior written consent of the Company, solicits any customer of the Company for the purpose of obtaining such customer's business relationship in any matter that would be deemed as competitive to the Company, then the Participant shall forfeit any benefits under this Plan.

6.7 Change in Control. The forfeiture provision detailed in Sections 6.5 and 6.6 hereof shall not be enforceable following a Change in Control.

Article 7 Claims And Review Procedures

7.1 Claims Procedure. A Participant or Beneficiary ("claimant") who has not received benefits under this Agreement that he or she believes should be distributed shall make a claim for such benefits as follows:

7.1.1 Initiation - Written Claim. The claimant initiates a claim by submitting to the Plan Administrator a written claim for the benefits. If such a claim relates to the contents of a notice received by the claimant, the claim must be made within sixty (60) days after such notice was received by the claimant. All other claims must be made within one hundred eighty (180) days of the date on which the event that caused the claim to arise occurred. The claim must state with particularity the determination desired by the claimant.

7.1.2 Timing of Plan Administrator Response. The Plan Administrator shall respond to such claimant within ninety (90) days after receiving the claim. If the Plan Administrator determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional ninety
(90) days by notifying the claimant in writing, prior to the end of the initial ninety (90) day period that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision.

7.1.3 Notice of Decision. If the Plan Administrator denies part or all of the claim, the Plan Administrator shall notify the claimant in writing of such denial. The Plan Administrator shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth:

(a) The specific reasons for the denial;

(b) A reference to the specific provisions of this Agreement on which the denial is based;

(c) A description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed;

(d) An explanation of this Agreement's review procedures and the time limits applicable to such procedures; and

(e) A statement of the claimant's right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on review.

7.2 Review Procedure. If the Plan Administrator denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the Plan Administrator of the denial as follows:

7.2.1 Initiation - Written Request. To initiate the review, the claimant, within sixty (60) days after receiving the Plan Administrator's notice of denial, must file with the Plan Administrator a written request for review.

7.2.2 Additional Submissions - Information Access. The claimant shall then have the opportunity to submit written comments, documents, records and other information relating to the claim. The Plan Administrator shall also provide the claimant, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant's claim for benefits.

7.2.3 Considerations on Review. In considering the review, the Plan Administrator shall take into account all materials and information the claimant submits relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination.

7.2.4 Timing of Plan Administrator Response. The Plan Administrator shall respond in writing to such claimant within sixty (60) days after receiving the request for review. If the Plan Administrator determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional sixty (60) days by notifying the claimant in writing, prior to the end of the initial sixty (60) day period that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision.

7.2.5 Notice of Decision. The Plan Administrator shall notify the claimant in writing of its decision on review. The Plan

Administrator shall write the notification in a manner calculated to be understood by the claimant. The notification shall set forth:

(a) The specific reasons for the denial;

(b) A reference to the specific provisions of this Agreement on which the denial is based;

(c) A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant's claim for benefits; and

(d) A statement of the claimant's right to bring a civil action under ERISA Section 502(a).

Article 8 Amendments and Termination

8.1 Amendments. This Plan may be amended by the Company at any time, provided that no such amendment shall reduce or eliminate any benefit hereunder. The Company may also unilaterally amend this Plan to conform to directives to the Company from its outside counsel, auditors or banking regulators or to comply with legislative changes or tax law, including without limitation
Section 409A of the Code and any and all Treasury regulations and guidance promulgated thereunder. Any Plan amendment shall be evidenced by a resolution of the Board or shall be taken by a person authorized to act by a duly adopted resolution of the Board and written notice of Plan amendment shall be delivered to the Plan Administrator within a reasonable time.

8.2 Plan Termination Generally. This Plan may be terminated at any time by the Company. The benefit shall be the Account Value as of the date this Plan is terminated. Except as provided in Section 8.3, the termination of this Plan shall not cause a distribution of benefits under this Plan. Rather, upon such termination benefit distributions will be made at the earliest distribution event permitted under Article 2 or Article 3.

8.3 Plan Terminations Under Code Section 409A. Notwithstanding anything to the contrary in Section 8.2, if the Company terminates this Plan in the following circumstances:

(a) Within thirty (30) days before or twelve (12) months after a Change in Control, provided that all distributions are made no later than twelve
(12) months following such termination of this Plan and further provided that all the Company's arrangements which are substantially similar to this Plan are terminated so the Participant and all participants in the similar arrangements are required to receive all amounts of compensation deferred under the terminated arrangements within twelve (12) months of such termination;

(b) Upon the Company's dissolution or with the approval of a bankruptcy court provided that the amounts deferred under this Plan are included in the Participant's gross income in the latest of (i) the calendar year in which this Plan terminates; (ii) the calendar year in which the amount is no longer subject to a substantial risk of forfeiture; or (iii) the first calendar year in which the distribution is administratively practical; or

(c) Upon the Company's termination of this and all other arrangements that would be aggregated with this Plan pursuant to Treasury Regulations
Section 1.409A-1(c) if the Participant participated in such arrangements ("Similar Arrangements"), provided that (i) the termination and liquidation does not occur proximate to a downturn in the financial health of the Company, (ii) all termination distributions are made no earlier than twelve (12) months and no later than twenty-four (24) months following such termination, and (iii) the Company does not adopt any new arrangement that would be a Similar Arrangement for a minimum of three (3) years following the date the Company takes all necessary action to irrevocably terminate and liquidate the Plan;

the Company may distribute the Account Value, determined as of the date of the termination of this Plan, to the Participant in a lump sum subject to the above terms.

Article 9 Administration of Plan

9.1 Plan Administrator Duties. The Plan Administrator shall administer this Plan according to its express terms and shall also have the discretion and authority to (i) make, amend, interpret and enforce all appropriate rules and regulations for the administration of this Plan and (ii) decide or resolve any and all questions, including interpretations of this Plan, as may arise in connection with this Plan to the extent the exercise of such discretion and authority does not conflict with Code Section 409A.

9.2 Agents. In the administration of this Plan, the Plan Administrator may employ agents and delegate to them such administrative duties as the Plan Administrator sees fit, including acting through a duly appointed representative, and may from time to time consult with counsel who may be counsel to the Company.

9.3 Binding Effect of Decisions. Any decision or action of the Plan Administrator with respect to any question arising out of or in connection with the administration, interpretation or application of this Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in this Plan.

9.4 Indemnity of Plan Administrator. The Company shall indemnify and hold harmless the Plan Administrator against any and all claims, losses, damages, expenses or liabilities arising from any action or failure to act with respect to this Plan, except in the case of willful misconduct by the Plan Administrator.

9.5 Company Information. To enable the Plan Administrator to perform its functions, the Company shall supply full and timely information to the Plan Administrator on all matters relating to the date and circumstances of the Participant's death, Disability or Separation from Service, and such other pertinent information as the Plan Administrator may reasonably require.

9.6 Annual Statement. The Plan Administrator shall provide to the Participant, within one hundred twenty (120) days after the end of each Plan Year, a statement setting forth the benefits to be distributed under this Plan.

Article 10 Miscellaneous

10.1 Binding Effect. This Plan shall bind the Participant and the Company and their beneficiaries, survivors, executors, administrators and transferees.

10.2 No Guarantee of Employment. This Plan is not a contract for employment. It does not give the Participant the right to remain as an employee of the Company nor interfere with the Company's right to discharge the Participant. It does not require the Participant to remain an employee nor interfere with the Participant's right to terminate employment at any time.

10.3 Non-Transferability. Benefits under this Plan cannot be sold, transferred, assigned, pledged, attached or encumbered in any manner.

10.4 Tax Withholding and Reporting. The Company shall withhold any taxes that are required to be withheld, including but not limited to taxes owed under Code Section 409A from the benefits provided under this Plan. The Company's sole liability regarding taxes is to forward any amounts withheld to the appropriate taxing authorities. The Company shall satisfy all applicable reporting requirements, including those under Code Section 409A.

10.5 Applicable Law. This Plan and all rights hereunder shall be governed by the laws of the State of Illinois, except to the extent preempted by the laws of the United States of America.

10.6 Unfunded Arrangement. The Participant and the Beneficiary are general unsecured creditors of the Company for the distribution of benefits under this Plan. The benefits represent the mere promise by the Company to distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors. Any insurance on the Participant's life or other informal funding asset is a general asset of the Company to which the Participant and Beneficiary have no preferred or secured claim.

10.7 Reorganization. The Company shall not merge or consolidate into or with another bank, or reorganize, or sell substantially all of its assets to another bank, firm or person unless such succeeding or continuing bank, firm or person agrees to assume and discharge the obligations of the Company under this Plan. Upon the occurrence of such an event, the term "Company" as used in this Plan shall be deemed to refer to the successor or survivor entity.

10.8 Entire Plan. No rights are granted to the Participant by virtue of this Plan other than those specifically set forth herein.

10.9 Interpretation. Wherever the fulfillment of the intent and purpose of this Plan requires and the context will permit, the use of the masculine gender includes the feminine and use of the singular includes the plural.

10.10 Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this Plan due to regulatory or other constraints, the Company or Plan Administrator may perform such alternative act as most nearly carries out the intent and purpose of this Plan and is in the best interests of the Company, provided that such alternative act does not violate Code Section 409A.

10.11 Headings. Article and section headings are for convenient reference only and shall not control or affect the meaning or construction of any provision herein.

10.12 Validity. If any provision of this Plan shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal or invalid provision had never been included herein.

10.13 Notice. Any notice or filing required or permitted to be given to the Company or Plan Administrator under this Plan shall be sufficient if in writing and hand-delivered or sent by registered or certified mail to the address below:

Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification.

Any notice or filing required or permitted to be given to the Participant under this Plan shall be sufficient if in writing and hand-delivered or sent by mail to the last known address of the Participant.

10.14 Compliance with Section 409A. This Plan shall be interpreted and administered consistent with Code Section 409A.

IN WITNESS WHEREOF, a duly authorized representative of the Company has signed this Plan.

JACKSONVILLE SAVINGS BANK

September 2, 2008                   By:  /s/ Richard A. Foss
Date                                     ------------------------------
                                    Title: President and Chief Executive Officer

PARTICIPATION AGREEMENT

THIS PARTICIPATION AGREEMENT (this "Agreement") is entered into as of __________ 20____ between Jacksonville Savings Bank, (the "Company") and [NAME OF PARTICIPANT] (the "Participant").

RECITALS

1. The Participant is a member of a select group of management or highly compensated Employees of the Company and the Company desires to have the continued services and counsel of the Participant.

2. The Company has adopted, effective ___________, _____, the Jacksonville Savings Bank Salary Continuation Plan 1 (the "Plan"), as amended from time to time, and the Participant has been selected to participate in the Plan.

3. The Participant desires to participate in the Plan.

4. The amount of the Normal Retirement Benefit in Section 3.1.1 is ___________ Dollars ($xx,xxx).

AGREEMENT

NOW THEREFORE, it is mutually agreed that:

1. Definitions. Unless otherwise provided in this Agreement, the capitalized terms in this Agreement shall have the same meaning as under the Plan.

2. Integrated Agreement: Parties Bound. The Plan, a copy of which has been made available to the Participant, is hereby incorporated into and made a part of this Agreement as though set forth in full in this Agreement. The parties to this Agreement agree to and shall be bound by, and have the benefit of, each and every provision of the Plan as set forth in the Plan. This Agreement and the Plan, collectively, shall be considered one complete contract between the parties.

3. Acknowledgment. The Participant hereby acknowledges that he or she has read and understands this Agreement and the Plan.

4. Conditions to Participation. As a condition to participation in the Plan, the Participant must complete, sign, date and return to the Plan Administrator an original copy of this Agreement, a Beneficiary Designation, and any other forms required by the Plan Administrator.

IN WITNESS WHEREOF, the Participant has signed and the Company has accepted this Participation Agreement, as of the date first written above.

JACKSONVILLE SAVINGS BANK

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

This Amended and Restated Agreement (the "Agreement") is made effective as of the 2nd day of September, 2008, by and between Jacksonville Savings Bank (the "Bank"), an Illinois chartered savings institution, with its principal administrative office at 1211 West Morton Avenue, Jacksonville, Illinois 62650-2000 and John Williams ("Mr. Williams"). Any reference to "Company" herein shall mean Jacksonville Bancorp, Inc. or any successor thereto.

WHEREAS, Mr. Williams is currently employed as Senior Vice President of the Bank pursuant to an employment agreement between the Bank and Mr. Williams entered into as of January 13, 2004 (the "Employment Agreement"); and

WHEREAS, the Bank desires to amend and restate the Employment Agreement in order to make changes to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the "Code") and the final regulations issued thereunder in April 2007; and

WHEREAS, the Bank desires to ensure that the Bank is assured of the continued availability of Mr. Williams' services as provided in this Agreement; and

WHEREAS, Mr. Williams is willing to serve the Bank on the terms and conditions hereinafter set forth and has agreed to such changes; and

WHEREAS, the Board of Directors of the Bank and Mr. Williams believe it is in the best interests of the Bank to enter into the Agreement in order to reinforce and reward Mr. Williams for his service and dedication to the continued success of the Bank and incorporate the changes required by Section 409A of the Code.

NOW, THEREFORE, in consideration of the premises and the mutual covenants and conditions hereinafter set forth, the Bank and Mr. Williams hereby agree as follows:

1. POSITION AND RESPONSIBILITIES

During the period of his employment hereunder, Mr. Williams agrees to serve as Senior Vice President of the Bank. During said period, Mr. Williams shall be considered a senior officer of the Bank and shall attend regular monthly board meetings of the Bank. Failure to reelect Mr. Williams as Senior Vice President without the consent of Mr. Williams during the term of this Agreement shall constitute a breach of this Agreement.

2. TERMS AND DUTIES

(a) The period of Mr. Williams's employment under this Agreement shall begin as of the date first above written and shall continue for a period of twelve (12) full calendar months thereafter, provided that all changes intended to comply with Section 409A of the Code shall be retroactively effective to January 1, 2005; and provided further that no retroactive change shall affect the compensation or benefits previously provided to Mr. Williams. Commencing on

the first anniversary date of this Agreement, and continuing at each anniversary date thereafter, the Agreement shall renew for an additional year such that the remaining term shall be twelve (12) full calendar months; provided, however, if written notice of nonrenewal is provided to Mr. Williams at least ten (10) days and not more than thirty (30) days prior to any anniversary date, the term of the Agreement shall cease at the end of twelve (12) months following such anniversary date.

(b) During the period of his employment hereunder, except for periods of absence occasioned by illness, reasonable vacation periods, and reasonable leaves of absence, Mr. Williams shall devote substantially all his business time, attention, skill, and efforts to the faithful performance of his duties hereunder, including activities and services related to the organization, operation and management of the Bank; provided, however, that, with the approval of the Board, as evidenced by a resolution of such Board, from time to time, Mr. Williams may serve, or continue to serve, on the boards of directors of, and hold any other offices or positions in, companies or organizations, which, in such Board's judgment, will not present any conflict of interest with the Bank, or materially affect the performance of Mr. Williams's duties pursuant to this Agreement. Nothing in this Section shall be construed as preventing Mr. Williams from serving from time to time on boards, committees, or holding positions of non-profit or governmental organizations, including religious and civic groups, without the need for Board approval.

3. COMPENSATION AND REIMBURSEMENT

(a) The compensation specified under this Agreement shall constitute the salary and benefits paid for the duties described in Section 2(b). The Bank shall pay Mr. Williams as compensation a salary of not less than $100,750 per year ("Base Salary"). Such Base Salary shall be payable bi-weekly. During the period of this Agreement, Mr. Williams's Base Salary shall be reviewed at least annually. Such review shall be conducted by a Committee designated by the Board, and the Board may increase Mr. Williams's Base Salary. Any such increase in Base Salary shall be consistent with increases awarded to other senior officers of the Bank. In addition to the Base Salary provided in this Section 3(a), the Bank shall provide Mr. Williams at no cost to Mr. Williams with all such other benefits as are provided uniformly to permanent full-time employees of the Bank.

(b) In addition to Mr. Williams's Base Salary, Mr. Williams will be entitled to participate in or receive benefits under any employee benefit plans, including but not limited to, retirement plans, supplemental retirement plans, pension plans, profit-sharing plans, health-and-accident plans, medical coverage or any other employee benefit plan or arrangement made available by the Bank in the future to its senior executives and key management employees, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements. Mr. Williams will be eligible for incentive compensation and bonuses as provided in any plan of the Bank in which Mr. Williams is eligible to participate. Nothing paid to Mr. Williams under any such plan or arrangement will be deemed to be in lieu of other compensation to which Mr. Williams is entitled under this Agreement.

(c) Mr. Williams shall also be entitled to regular director's fees if Mr. Williams serves as a director on the Bank's Board of Directors.

(d) Compensation and reimbursement to be paid pursuant to paragraphs (a),
(b) and (c) of this Section 3 shall be paid by the Bank and the Company, respectively on a pro rata basis based upon the amount of service Mr. Williams devotes to the Bank and Company, respectively. All compensation and reimbursements shall be paid promptly by the Bank and the Company, and in any event no later than March 15 of the year immediately following the year in which the compensation was earned or the expense was incurred.

4. PAYMENTS TO MR. WILLIAMS UPON AN EVENT OF TERMINATION

The provisions of this Section shall in all respects be subject to the terms and conditions stated in Sections 8 and 15.

(a) The provisions of this Section shall apply upon the occurrence of an Event of Termination (as herein defined) during Mr. Williams's term of employment under this Agreement. As used in this Agreement, an "Event of Termination" shall mean and include any one or more of the following: (i) the termination by the Bank or the Company of Mr. Williams's full-time employment hereunder for any reason other than (A) Disability or Retirement as defined in
Section 6 below, (B) a Change in Control, as defined in Section 5(a) hereof, or
(C) Termination for Cause as defined in Section 7 hereof; or (ii) Mr. Williams's resignation from the Bank's employ, upon any (A) failure to elect or reelect or to appoint or reappoint Mr. Williams as Senior Vice President, (B) material change in Mr. Williams's function, duties, or responsibilities, which change would cause Mr. Williams's position to become one of lesser responsibility, importance, or scope from the position and attributes thereof described in
Section 1 above, (C) liquidation or dissolution of the Bank or Company other than liquidations or dissolutions that are caused by reorganizations that do not affect the status of Mr. Williams, or (D) breach of this Agreement by the Bank. Upon the occurrence of any event described in clauses (ii)(A), (B), (C) or (D) above, Mr. Williams shall have the right to elect to terminate his employment under this Agreement without prejudice to his rights under this Agreement, by resignation upon sixty (60) days prior written notice given within a reasonable period of time not to exceed ninety (90) days after the initial event giving rise to said right to elect; provided, however, that the Bank has thirty (30) days to remedy any condition under clauses (ii)(A) through (D) above, but the Bank may waive such cure period and make immediate payment hereunder. Notwithstanding the preceding sentence, in the event of a continuing breach of this Agreement by the Bank, Mr. Williams, after giving due notice within the prescribed time frame of an initial event specified above, shall not waive any of his rights solely under this Agreement and this Section 4 by virtue of the fact that Mr. Williams has submitted his resignation but has remained in the employment of the Bank and is engaged in good faith discussions to resolve any occurrence of an event described in clauses (A), (B), (C) or (D) above.

(b) Upon the occurrence of an Event of Termination, on the Date of Termination, as defined in Section 8, the Bank shall pay Mr. Williams, or, in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, as severance pay or liquidated damages, or both, a sum equal to the greater of the payments due for the remaining term of the

Agreement or one (1) times Mr. Williams's Base Salary for the immediately preceding twelve (12) months, including bonuses and any other cash compensation paid to Mr. Williams during such period, and the amount of any benefits received pursuant to any employee benefit plans on behalf of Mr. Williams, maintained by the Bank during such period. All payments shall be made to Mr. Williams in a single cash lump sum distribution within thirty (30) days following Mr. Williams' Date of Termination, provided, however, if Mr. Williams is a Specified Employee (within the meaning of Treasury Regulation ss.1.409A-1(i)), then, solely to the extent required to avoid penalties under Code Section 409A, such payment shall be delayed until the first day of the seventh full month following Mr. Williams' Date of Termination.

(c) Upon the occurrence of an Event of Termination, the Bank will cause to be continued life insurance, and nontaxable medical and dental coverage substantially identical to the coverage maintained by the Bank for Mr. Williams prior to his termination, provided that such benefits shall not be provided in the event they should constitute an unsafe or unsound banking practice relating to executive compensation and employment contracts pursuant to applicable regulations, as is now or hereafter in effect. Such coverage shall cease upon the expiration of the remaining term of this Agreement.

(d) Mr. Williams' termination of employment in accordance with Section 4(a) shall be construed to require a "Separation from Service" as defined in Code
Section 409A and the Treasury Regulations promulgated thereunder, such that the Bank and Mr. Williams reasonably anticipate that the level of bona fide services Mr. Williams would perform after termination would permanently decrease to a level that is less than 50% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period.

5. CHANGE IN CONTROL

(a) No benefit shall be payable under this Section 5 unless there shall have been a Change in Control of the Bank or Company, as set forth below. For purposes of this Agreement, a "Change in Control" of the Bank or Company (a) shall mean an event of a nature that would be required to be reported in response to Item 5.01 of the current report on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (the "Exchange Act"), or results in a Change in Control of the Bank or the Company within the meaning of the Home Owners Loan Act, as amended and applicable rules and regulations promulgated thereunder as in effect at the time of the Change in Control; or (b) without limitation shall be deemed to have occurred at such time as (i) any "person" (as the term is used in Section 13(d) and 14(d) of the Exchange Act) other than the Company is or becomes a "beneficial owner" (as defined in Rule 13-d under the Exchange Act) directly or indirectly, of securities of the Bank representing 25 % or more of the Bank's outstanding securities ordinarily having the right to vote at the election of directors except for any securities of the Bank received by the Company in connection with the reorganization and any securities purchased by the Bank's employee stock ownership plan and trust shall not be counted in determining whether such plan is the beneficial owner of more than 25 % of the Bank's securities, (ii) a proxy statement soliciting proxies from stockholders of the Bank, by someone other than the current management of the Bank, seeking stockholder approval of a plan of reorganization, merger or consolidation of the

Company of the Bank or similar transaction with one or more corporations as a result of which the outstanding shares of the class of securities then subject to the plan or transaction are exchanged or converted into cash or property or securities not issued by the Bank or the Company, or (iii) a tender offer is made for 25 or more of the voting securities of the Bank and the shareholders owning beneficially or of record 25 % or more of the outstanding securities of the Bank have tendered or offered to sell their shares pursuant to such tender offer and such tendered shares have been accepted by the tender offeror.

Notwithstanding, the foregoing, a "Change in Control" of the Bank or the Company shall not be deemed to have occurred in connection with the conversion of Jacksonville Bancorp, MHC to stock form.

For these purposes, "Incumbent Board" means, in the case of the Company or the Bank, the Board of Directors of the Company or the Bank, respectively, on the date hereof, provided that any person becoming a director subsequent to the date hereof whose election was approved by a vote of at least three-quarters of the directors comprising the Incumbent Board, or whose nomination for election by members or stockholders was approved by the same nominating committee serving under an Incumbent Board, shall be considered as though he were a member of the Incumbent Board.

(b) If any of the events described in Section 5(a) hereof constituting a Change in Control have occurred, Mr. Williams shall be entitled to the benefits provided in paragraphs (c), (e), (f) and (g) of this Section 5 upon his subsequent termination of employment at any time during the term of this Agreement, regardless of whether such termination results from (i) his resignation or (ii) his dismissal upon the Change in Control.

(c) Upon the occurrence of a Change in Control followed by Mr. Williams's termination of employment, the Bank shall pay Mr. Williams, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, as severance pay or liquidated damages, or both, a sum equal to the greater of the payments due for the remaining term of the Agreement or one (1) times Mr. Williams's Base Salary for the immediately preceding twelve (12) months, including bonuses and any other cash compensation paid to Mr. Williams during such period, and the amount of any contributions made to any employee benefit plans, on behalf of Mr. Williams, maintained by the Bank during such years. All payments shall be made to Mr. Williams in a single cash lump sum distribution within thirty (30) days following Mr. Williams' Date of Termination, provided, however, if Mr. Williams is a Specified Employee (within the meaning of Treasury Regulation ss.1.409A-1(i)), then, solely to the extent required to avoid penalties under Code Section 409A, such payment shall be delayed until the first day of the seventh full month following Mr. Williams' Date of Termination.

(d) For the purposes of this Section 5, "termination of employment" shall mean "Separation from Service" as defined in Code Section 409A and the Treasury Regulations promulgated thereunder, such that the Bank and Mr. Williams reasonably anticipate that the level of bona fide services Mr. Williams would perform after termination would permanently decrease to a level that is less than 50% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period.

(e) Upon the occurrence of a Change in Control followed by Mr. Williams's termination of employment, the Bank will cause to be continued life insurance and non-taxable medical and dental coverage substantially identical to the coverage maintained by the Bank for Mr. Williams prior to his severance. Such coverage and payments shall cease upon the expiration of the remaining term of the Agreement or twelve (12) months, whichever is longer.

(f) Upon the occurrence of a Change in Control, Mr. Williams will be entitled to any benefits granted to his pursuant to any Stock Option Plan of the Bank or Company.

(g) Upon the occurrence of a Change in Control, Mr. Williams will be entitled to any benefits awarded to him under the Bank's Recognition and Retention Plan or any restricted stock plan in effect.

(h) Notwithstanding the preceding paragraphs of this Section 5, if the aggregate payments or benefits to be made or afforded to Mr. Williams under said paragraphs would be deemed to include an "excess parachute payment" under
Section 280G of the Code or any successor thereto, Mr. Williams' benefits will be reduced to an amount, the value of which is one dollar ($1.00) less than an amount equal to three (3) times Mr. Williams' "base amount", as determined in accordance with said Section 280G. In the event a reduction is necessary, then the cash severance payable by the Bank pursuant to Section 5 hereof shall be reduced by the minimum amount necessary to result in no portion of the payments and benefits payable by the Bank under Section 5 being non-deductible to the Bank pursuant to Section 280G of the Code and subject to excise tax imposed under Section 4999 of the Code.

(i) Notwithstanding the foregoing, there will be no reduction in the compensation otherwise payable to Mr. Williams during any period during which Mr. Williams is incapable of performing his duties hereunder by reason of temporary disability.

(j) Any payments made to Mr. Williams pursuant to this Agreement or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C. ss. 1828(k) and any applicable regulations promulgated thereunder.

(k) Mr. Williams shall not be entitled to any payments pursuant to this
Section 5 if the Bank is not in compliance with its minimum capital requirements or if such payments would cause the Bank's capital to be reduced below its minimum capital requirements, such payments shall be deferred until such times as the Bank is in capital compliance, and provided further, that in no event shall total severance compensation from all sources exceed three times Mr. Williams's Base Salary for the immediately preceding year.

6. TERMINATION UPON RETIREMENT OR DISABILITY

(a) Termination by the Bank of Mr. Williams based on "Retirement" shall mean termination in accordance with the Bank's retirement policy or in accordance with any retirement arrangement established with Mr. Williams's consent with respect to him. Upon termination of employment upon Retirement, Mr. Williams shall be entitled to all benefits under any retirement plan of the Bank and other plans to which Mr. Williams is a party.

(b) Termination by the Bank of Mr. Williams's employment based on "Disability" shall mean termination because of any physical or mental impairment which qualifies Mr. Williams for disability benefits under the applicable long-term disability plan maintained by the Bank or, if no such plan applies, which would qualify Mr. Williams for disability benefits under the federal social security system. Upon termination of employment upon Disability, Mr. Williams shall be entitled to all disability benefits under any disability plan of the Bank and other plans to which Mr. Williams is a party.

7. TERMINATION FOR CAUSE

The term "Termination for Cause" shall mean termination because of Mr. Williams's personal dishonesty, incompetence, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, or material breach of any provision of this Agreement. In determining incompetence, the acts or omissions shall be measured against standards generally prevailing in the savings institutions industry. For purposes of this paragraph, no act or failure to act on the part of Mr. Williams shall be considered "willful" unless done, or omitted to be done, by Mr. Williams not in good faith and without reasonable belief that Mr. Williams's action or omission was in the best interest of the Bank. Notwithstanding the foregoing, Mr. Williams shall not be deemed to have been Terminated for Cause unless and until there shall have been delivered to him a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to Mr. Williams and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, Mr. Williams was guilty of conduct justifying Termination for Cause and specifying the particulars thereof in detail. Mr. Williams shall not have the right to receive compensation or other benefits for any period after Termination for Cause. Any stock options granted to Mr. Williams under any stock option plan of the Bank, the Company or any subsidiary or affiliate thereof, shall become null and void effective upon Mr. Williams's receipt of Notice of Termination for Cause pursuant to Section 8 hereof, and shall not be exercisable by Mr. Williams at any time subsequent to such Termination for Cause.

8. NOTICE

(a) Any purported termination by the Bank or by Mr. Williams shall be communicated by Notice of Termination to the other party hereto. For purposes of this Agreement, a "Notice of Termination" shall mean a written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Mr. Williams's employment under the provision so indicated.

(b) "Date of Termination" shall mean the date specified in the Notice of Termination (which, in the case of a Termination for Cause, shall not be less than thirty (30) days from the date such Notice of Termination is given).

(c) If, within thirty (30) days after any Notice of Termination is given, the party receiving such Notice of Termination notifies the other party that a dispute exists concerning the termination, except upon the occurrence of a Change in Control and voluntary termination by Mr. Williams, in which case the Date of Termination shall be the date specified in the Notice, the Date of Termination shall be the date on which the dispute is finally determined, either by mutual written agreement of the parties, by a binding arbitration award, or by a final judgment, order or decree of a court of competent jurisdiction (the time for appeal having expired and no appeal having been perfected) and provided further that the Date of Termination shall be extended by a notice of dispute only if such notice is given in good faith and the party giving such notice pursues the resolution of such dispute with reasonable diligence. Notwithstanding the pendency of any such dispute, the Bank will continue to pay Mr. Williams his full compensation in effect when the notice giving rise to the dispute was given (including, but not limited to, Base Salary) and continue Mr. Williams as a participant in all compensation, benefit and insurance plans in which he was participating when the notice of dispute was given, until the dispute is finally resolved in accordance with this Agreement, provided such dispute is resolved within nine months after the Date of Termination specified in the Notice or Termination; notwithstanding the foregoing, no compensation or benefits shall be paid to Mr. Williams in the event Mr. Williams is Terminated for Cause. In the event that such Termination for Cause is found to have been wrongful or such dispute is otherwise decided in Mr. Williams's favor, Mr. Williams shall be entitled to receive all compensation and benefits which accrued but were unpaid following the Termination for Cause, and such amount shall be paid promptly by the Bank and in any event no later than March 15 of the year immediately following the year in which the matter was resolved. Amounts paid under this Section are in addition to all other amounts due under this Agreement and shall not be offset against or reduce any other amounts due under this Agreement.

9. POST-TERMINATION OBLIGATIONS

(a) All payments and benefits to Mr. Williams under this Agreement shall be subject to Mr. Williams's compliance with paragraph (b) of this Section 9 during the term of this Agreement and for one (1) full year after the expiration or termination hereof.

(b) Mr. Williams shall, upon reasonable notice, furnish such information and assistance to the Bank as may reasonably be required by the Bank in connection with any litigation in which it or any of its subsidiaries or affiliates is, or may become, a party.

10. NON-COMPETITION

(a) Upon any termination of Mr. Williams's employment hereunder pursuant to
Section 4(a) hereof, Mr. Williams agrees not to compete with the Bank and/or the Company for a period of one (1) year following such termination in any city, town or county in which the Bank and/or the Company has an office or has filed an application for regulatory approval to establish an office, determined as of the effective date of such termination, except as agreed to pursuant to a resolution duly adopted by the Board. Mr. Williams agrees that during such period and within said cities, towns and counties, Mr. Williams shall not work for or advise, consult or otherwise serve with, directly or indirectly, any entity whose business materially competes with the depository, lending or other

business activities of the Bank and/or the Company. The parties hereto, recognizing that irreparable injury will result to the Bank and/or the Company, its business and property in the event of Mr. Williams's breach of this Subsection 10(a) agree that in the event of any such breach by Mr. Williams, the Bank and/or the Company will be entitled, in addition to any other remedies and damages available, to an injunction to restrain the violation hereof by Mr. Williams, Mr. Williams's partners, agents, servants, employers, employees and all persons acting for or with Mr. Williams. Nothing herein will be construed as prohibiting the Bank and/or the Company from pursuing any other remedies available to the Bank and/or the Company for such breach or threatened breach, including the recovery of damages from Mr. Williams.

(b) Mr. Williams recognizes and acknowledges that the knowledge of the business activities and plans for business activities of the Bank and affiliates thereof, as it may exist from time to time, is a valuable, special and unique asset of the business of the Bank. Mr. Williams will not, during or after the term of his employment, disclose any knowledge of the past, present, planned or considered business activities of the Bank or affiliates thereof to any person, firm, corporation, or other entity for any reason or purpose whatsoever. Notwithstanding the foregoing, Mr. Williams may disclose any knowledge of banking, financial and/or economic principles, concepts or ideas which are not solely and exclusively derived from the business plans and activities of the Bank, and Mr. Williams may disclose any information regarding the Bank or the Company which is otherwise publicly available. In the event of a breach or threatened breach by Mr. Williams of the provisions of this Section 10, the Bank will be entitled to an injunction restraining Mr. Williams from disclosing, in whole or in part, the knowledge of the past, present, planned or considered business activities of the Bank or affiliates thereof, or from rendering any services to any person, firm, corporation, other entity to whom such knowledge, in whole or in part, has been disclosed or is threatened to be disclosed. Nothing herein will be construed as prohibiting the Bank from pursuing any other remedies available to the Bank for such breach or threatened breach, including the recovery of damages from Mr. Williams.

11. SOURCE OF PAYMENTS

All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Bank. The Company, however, guarantees payment and provision of all amounts and benefits due hereunder to Mr. Williams and, if such amounts and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid or provided by the Company.

12. EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS

This Agreement contains the entire understanding between the parties hereto and supersedes any prior employment agreement between the Bank or any predecessor of the Bank and Mr. Williams.

13. NO ATTACHMENT

(a) Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation, or to execution, attachment, levy, or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to affect any such action shall be null, void, and of no effect.

(b) This Agreement shall be binding upon, and inure to the benefit of, Mr. Williams and the Bank and their respective successors and assigns.

14. MODIFICATION AND WAIVER

(a) This Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto.

(b) No term or condition of this Agreement shall be deemed to have been waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future as to any act other than that specifically waived.

15. REQUIRED PROVISIONS

Notwithstanding anything herein contained to the contrary, any payments to Mr. Williams by the Company are subject to and conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1828(k), and the regulations promulgated thereunder in 12 C.F.R. Part 359.

16. SEVERABILITY

If, for any reason, any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the full extent consistent with law continue in full force and effect.

17. HEADINGS FOR REFERENCE ONLY

The headings of sections and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement.

18. GOVERNING LAW

This Agreement shall be governed by the laws of the State of Illinois, but only to the extent not superseded by federal law.

19. ARBITRATION

Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator's award in any court having jurisdiction; provided, however, that Mr. Williams shall be entitled to seek specific performance of his right to be paid until the Date of Termination during the pendency of any dispute or controversy arising under or in connection with this Agreement.

20. PAYMENT OF LEGAL FEES

All reasonable legal fees paid or incurred by Mr. Williams pursuant to any dispute or question of interpretation relating to this Agreement shall be paid or reimbursed by the Bank, provided that the dispute or interpretation has been settled by Mr. Williams and the Bank or resolved in Mr. Williams's favor, and that such reimbursement or payment shall occur no later than two and one-half (2 1/2) months after the dispute is settled or resolved in Mr. Williams' favor.

21. INDEMNIFICATION

The Bank shall provide Mr. Williams (including his heirs, executors and administrators) with coverage under a standard directors' and officers' liability insurance policy at its expense, or in lieu thereof, shall indemnify Mr. Williams (and his heirs, executors and administrators) to the fullest extent permitted under federal law against all expenses and liabilities reasonably incurred by him in connection with or arising out of any action, suit or proceeding in which he may be involved by reason of his having been a director or officer of the Bank (whether or not he continues to be a director or officer at the time of incurring such expenses or liabilities), such expenses and liabilities to include, but not be limited to, judgments, court costs and attorneys' fees and the cost of reasonable settlements (such settlements must be approved by the Board of Directors of the Bank). If such action, suit or proceeding is brought against Mr. Williams in his capacity as an officer or director of the Bank, however, such indemnification shall not extend to matters as to which Mr. Williams is finally adjudged to be liable for willful misconduct in the performance of his duties. No Indemnification shall be paid that would violate 12 U.S.C. 1828(k) or any regulations promulgated thereunder.

22. SUCCESSOR TO THE BANK

The Bank shall require any successor or assignee, whether direct or indirect, by purchase, merger, consolidation or otherwise, to all or substantially all the business or assets of the Bank or the Company, expressly and unconditionally to assume and agree to perform the Bank's obligations under this Agreement, in the same manner and to the same extent that the Bank would be required to perform if no such succession or assignment had taken place.

SIGNATURES

IN WITNESS WHEREOF, the Bank has caused this Agreement to be executed and their seals to be affixed hereunto by its duly authorized officer, and Mr. Williams has signed this Agreement, effective as of the day and date first above written.

JACKSONVILLE SAVINGS BANK

September 2, 2008                            By:  /s/ Andrew F. Applebee
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Date                                              Chairman of the Board


                                                  EXECUTIVE


September 2, 2008                            By:  /s/ John Williams
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Date                                              John Williams