FRANKFORT FIRST BANCORP, INC./FIRST FEDERAL SAVINGS BANK
                         JUNIOR OFFICER RECOGNITION PLAN

PURPOSE: In order to attract and retain responsible,  competent, and experienced
individuals  at key  positions at First Federal  Savings  Bank,  the Company has
devised the following plan to augment other compensation  arrangements in place.
This plan also  will  serve to more  closely  align the  interests  of these key
employees  with the  interests of the Company  through an award of the Company's
common stock.

ADMINISTRATION:  This plan will be  administered by the Board of Frankfort First
Bancorp, Inc.

PARTICIPANTS: The plan is designated for those employees designated by the Board
as "Junior  Executive  Officers."  Generally,  these  employees  will be at Vice
President level.  This plan is not intended to reward Senior Executive  Officers
such as Company  President Don Jennings or Bank President Danny Garland.  At the
plan's  inception,  plan  participants  will be Vice Presidents Clay Hulette and
Teresa Kuhl. In the future,  the Board,  at its sole  discretion,  may authorize
awards to other employees who are either hired or promoted to this level.

PLAN  ASSETS:  The  Company  will  transfer  8,000  shares  to the  plan,  to be
recognized on the balance sheets as a contra-capital  account. These shares will
be transferred from Treasury Shares.

AWARD: Participants will receive a total award of 2,000 shares to be vested over
five years  (400  shares  per year)  beginning  in  calendar  year  2003,  to be
disbursed on a schedule  designated by the Board.  The Board may determine  that
past  service may be counted  toward the first year of vesting  thus an employee
with one or more years experience may be immediately  eligible for disbursement.
In such cases,  subsequent vesting will occur annually on the anniversary of the
initial award.

DIVIDENDS: Dividends will be paid on all shares in the plan. Dividends on shares
awarded  but not yet  disbursed  will stay in the plan  until the  corresponding
share is disbursed, at which time the dividend will be disbursed.

ELIGIBILITY:  Participants will relinquish all rights to undisbursed  shares and
corresponding dividends held in this plan if they voluntarily resign, retire, or
are  terminated for cause.  Upon the death or disability of a  participant,  the
remaining shares and  corresponding  dividends that have been awarded and vested
will be granted within 30 days of their last day of service.  This plan does not
guarantee vesting in case of change in control of the Company.

EXPIRATION: This plan will remain in effect for the later of 10 years (ending in
calendar  2013),  until all grants that have been awarded  have been vested,  or
until all shares have been disbursed from the plan.

VOTING:  Shares in the plan that have not been disbursed to participants will be
voted as directed by the Board.



TERMINATION:  The  Board  may  terminate  this  plan at any  time  prior  to its
expiration,  subject  to  future  disbursement  of shares  and the  accompanying
dividends  already  awarded but not yet  disbursed.  Shares and cash held in the
plan but not awarded will be returned to the Company.

TRANSFER: The plan administrator may transfer shares to the Bank for purposes of
disbursement  to employees  in order to avail the Company of the Bank's  payroll
apparatus.