AGREEMENT FOR DEFERMENT OF SALARIES

Exhibit 10.8

AGREEMENT FOR DEFERMENT OF SALARIES

By resolution of the Board of Directors of Hamilton Federal Savings and Loan Association the following agreement for the unfunded deferment of payment of salaries has been adopted effective January 1, 1986.

Section 1. PURPOSE— The purpose of the agreement is to provide an opportunity for the officers to accumulate wealth for retirement and to provide the use of funds for business activities.

Section 2. PARTICIPANTS—All active Senior Officers are eligible for .participation. Senior Officers are defined as Chairman of the Board, President, Vice President, Secretary and Treasurer.

TERM OF THE AGREEMENT—The agreement is effective for calendar years beginning January 1, 1986, and will continue in effect until terminated by action of the Board of Directors or other legal authority.

Section 3. ELECTIONS—Each Senior Officer may elect on or before December 31, of any year to defer receipt of all or a specified part of his salary for the succeeding calendar year. An election to defer fees continues in all succeeding years unless the officer terminates the election by written request.

Section 4. DEFERRAL OF SALARY—On receipt of a written election by a Senior Officer, Hamilton Federal Savings and Loan Association will establish an accounting record of the fees deferred by such officer. The deferred salary will be recorded as a current operating expense for accounting purposes but will not be deducted by Hamilton Federal Savings and Loan Association on its income tax returns until the year of actual payment. An unfunded liability for deferred but unpaid salary and accumulated interest will be recorded on the books and records of Hamilton Federal Savings and Loan Association. Nothing contained herein shall be deemed to create a trust of any kind. No participant shall have any right to receive any current or accumulated deferred compensation or interest for any year until such time as described in Section 6. To the extent that any person, including the participant, acquires a right to receive payments from Hamilton Federal Savings and Loan Association under the Agreement, such right shall be no greater than the right of any unsecured general creditor of Hamilton Federal Savings and Loan Association. Furthermore, such right may not be pledged, transferred or assigned in whole or in part.

Section 5. INTEREST—Interest (based on the highest Savings Certificate rate when credited) on the deferred salary will be compounded daily and credited to the account of each officer monthly from the day the deferred salary was otherwise payable until distribution of all deferred amounts.

Section 6. PAYMENT - The amounts deferred and the accumulated interest will be distributed in annual installments (or quarterly installments if so elected) over a ten-year period (or over a lesser period if so elected) beginning with the first calendar year immediately following the year in which the officer ceases to be employed (or such earlier time if so elected at the time of the election to defer). Upon the death of an officer or former officer prior to the expiration of the payment period, the balance of his deferred salary and interest will be payable to his beneficiary (as defined in Section 7(a)) in full on the first day of the next calendar year following his death.

If the beneficiary shall have predeceased the participant, or if a beneficiary has not been designated by the participant, then the balance shall be payable in a lump sum to the participant’s estate in full on the first business day of the next calendar year following his death.

In the event a participant ceases to be an officer and becomes disabled (as defined in Section 7(b)) or incurs other hardship, the entire balance (or a portion) of his deferred salary, including interest may, if directed by the Board of Directors, in its sole discretion, be paid to him immediately in a lump sum.

In the event an officer ceases to be employed and becomes an officer or director with any business that is in competition with the corporation, the entire balance of his deferred fees, including interest, may, if directed by the Board of Directors, in its sole discretion, be paid to him immediately in a lump sum.

Section 7. DEFINITIONS

There being no further business to come before the meeting, a motion was duly made and seconded to adjourn.

Proposed Amendment to “Agreement for Deferment of Directors Fees” and

“Agreement for Deferment of Salaries”

The third paragraph of page 2 of each agreement would be amended as follows

In the event a participant ceases to be a Director (Officer) and becomes disabled or if the participant incurs another hardship, the entire balance (or a portion) of his deferred fees (salary), including interest, may if directed by the Board of Directors at its sole discretion be paid in a lump sum or in installments. If installment payments have begun and the participant incurs another hardship the installment payments may be accelerated at the sole discretion of the Board of Directors.

Subparagraph (c) would be added to Section 7. Definitions as follows

“Other hardship” means a severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of a dependent of the Participant, loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. The circumstances that will constitute an “other hardship” would depend upon the facts of each case, but, in any case, payment may not be made in the event that such hardship is or may be relieved:

The need to send a Participant’s child to college or the desire to purchase a home shall not be an Unforeseeable Emergency.

HAMILTON FEDERAL BANK

AGREEMENT FOR DEFERRED COMPENSATION

OF SALARIES

1999 Amendment

WHEREAS, Hamilton Federal Bank (the “Bank”) has approved and implemented, for senior officers, the Hamilton Federal Bank Agreement for Deferred Compensation of Salaries (the “Agreement”); and

WHEREAS, the Bank’s Board of Directors (the “Board”) has resolved to amend the Agreement to permit each senior officer to elect to receive in-service distributions from his or her account, and to select the investment return that will be credited to his or her account.

NOW, THEREFORE, BE IT RESOLVED, that the Agreement is hereby amended as follows, effective immediately:

1. Section 4 of the Agreement shall be amended by deleting its fourth sentence (in order to permit the Bank to establish a grantor trust as an unsecured funding vehicle for benefits).

2. Section 5 of the Agreement shall be amended by adding the following sentence at the end thereof:

Notwithstanding the foregoing, a Senior Officer may irrevocably elect, on an Investment Election Form materially in the form attached as Exhibit “A”, to have the Senior Officer’s account balance or a portion thereof credited with an investment return based on the Senior Officer’s investment elections made pursuant to this paragraph. At the end of each month during which a Senior Officer’s account has a positive value, Hamilton Federal Bank shall honor any election that a Senior Officer makes on an Investment Election Form; provided that each Senior Officer’s election is irrevocable until the Trustee implements a change specified on a superseding Investment Election Form filed by the Senior Officer. Elections made before December 1, 1999, however, shall take effect December 1, 1999. In the event a Senior Officer files more than one valid Investment Election Form, the most recent valid election shall supersede any and all prior elections. For purposes of this paragraph, a Senior Officer’s election shall be deemed to be approved on the day of its execution by or delivery to Legg Mason Trust, fsb (or its successor as trustee of the trust associated with this Agreement), unless within the ensuing three days the Trustee rejects the election through a written notice that (i) is delivered to the Senior Officer who made the election and (ii) specifies the reasons for its rejection.

Hamilton Federal Bank

Agreement for Deferment of Salaries

1999 Amendment

Page 2 of 2

3. Section 6 of the Agreement shall be amended by replacing “calendar year” with “calendar month in which administratively practicable”.

4. Section 6 shall be further amended by adding the following paragraph at the end of the section:

Each Senior Officer may elect, on a Distribution Election Form materially in the form attached as Exhibit “B”, to withdraw all or any portion of his or her account, provided that such election is made at least one year prior to the date on which the election is to take effect.

5. Exhibits “A” and “B” of the Agreement shall henceforth provide as attached hereto.

WHEREFORE, on this 8th day of November, 1999, the Bank hereby adopts this 1999 Amendment to the Agreement.