KFFB » Topics » Recommendation and Vote Required

This excerpt taken from the KFFB DEF 14A filed Oct 7, 2005.

Recommendation and Vote Required

          The Board of Directors has determined that the 2005 Plan is desirable, cost effective, and produces incentives which will benefit the Company and its stockholders.  The Board of Directors is seeking stockholder approval of the 2005 Plan, in order to satisfy the requirements of the Code for favorable tax treatment of incentive stock options, to comply with Nasdaq requirements and to exempt certain option transactions from the short-swing trading rules of the Securities and Exchange Commission.

          Stockholder approval of the Incentive Plan requires the affirmative vote of the holders of a majority of the votes cast by stockholders of the Company, excluding shares owned by First Federal MHC, at the Annual Meeting.  The Board of Directors recommends that you vote “FOR” approval of the Kentucky First Federal Bancorp 2005 Equity Incentive Plan.

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