<SEC-DOCUMENT>0000943374-22-000485.txt : 20221130
<SEC-HEADER>0000943374-22-000485.hdr.sgml : 20221130
<ACCEPTANCE-DATETIME>20221130140602
ACCESSION NUMBER:		0000943374-22-000485
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		7
FILED AS OF DATE:		20221130
DATE AS OF CHANGE:		20221130
EFFECTIVENESS DATE:		20221130

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IF Bancorp, Inc.
		CENTRAL INDEX KEY:			0001514743
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				451834449
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-268599
		FILM NUMBER:		221435185

	BUSINESS ADDRESS:	
		STREET 1:		201 E. CHERRY ST
		CITY:			WATSEKA
		STATE:			IL
		ZIP:			60970
		BUSINESS PHONE:		(815) 432-2476

	MAIL ADDRESS:	
		STREET 1:		201 E. CHERRY ST
		CITY:			WATSEKA
		STATE:			IL
		ZIP:			60970
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>s8_113022.htm
<DESCRIPTION>IF BANCORP, INC. FORM S-8 NOVEMBER 30, 2022
<TEXT>
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    <div style="text-align: right;"><font style="font-weight: bold;">Registration No. 333-</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 216pt">&#160;</font></div>
    <div style="text-align: right;"><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 216pt"> <br>
      </font></div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-weight: bold;">As filed with the Securities and Exchange Commission on November 30, 2022</div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-size: 12pt;"><font style="font-weight: bold;">UNITED STATES</font></div>
    <div style="text-align: center; font-size: 12pt;"><font style="font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></div>
    <div style="text-align: center; font-size: 12pt;"><font style="font-weight: bold;">Washington, D.C.&#160; 20549</font></div>
    <div style="text-align: center; font-size: 12pt;">_________________________</div>
    <div style="text-align: center; font-size: 12pt;"> <br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">FORM S-8</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">REGISTRATION STATEMENT</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">UNDER</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">THE SECURITIES ACT OF 1933</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">IF Bancorp, Inc.</div>
    <div style="text-align: center; font-size: 8pt;">(Exact Name of Registrant as Specified in its Charter)</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z8be13ac49a9f43beb99fa8b633fb6a0e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center; font-size: 12pt; font-weight: bold;">Maryland</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center; font-size: 12pt; font-weight: bold;">45-1834449</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt;">(State or Other Jurisdiction of</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt;">(I.R.S. Employer Identification No.)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt;">Incorporation or Organization)</div>
          </td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">201 East Cherry Street</div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;">Watseka, Illinois 60970</font></div>
    <div style="text-align: center;"><font style="font-size: 8pt;">(Address of Principal Executive Offices)</font></div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: center;"><font style="font-size: 12pt; font-weight: bold;">IF Bancorp, Inc. 2022 Equity Incentive Plan</font></div>
    <div style="text-align: center;"><font style="font-size: 8pt;">(Full Title of the Plan)</font></div>
    <div style="text-align: center;"> <br>
    </div>
    <div style="text-align: center;">Copies to:</div>
    <table cellspacing="0" cellpadding="0" id="ze8054f1d678842e3a854ae22ddd98418" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">Walter H. Hasselbring, III</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">Michael J. Brown, Esq.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">President and Chief Executive Officer</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">Beverly J. White, Esq.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">IF Bancorp, Inc.</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">Luse Gorman, PC</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">201 East Cherry Street</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">5335 Wisconsin Ave., N.W., Suite 780</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">Watseka, Illinois&#160; 60970</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">Washington, DC 20015-2035</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">(815) 432-2476</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">(202) 274-2000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">(Name, Address and Telephone</div>
          </td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;">Number of Agent for Service)</div>
          </td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of &#8220;large
      accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Securities Exchange Act of 1934, as amended:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z2b731171ce5146cd9f0d7d0c8af42a43" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 66.66%; vertical-align: top;">
            <div>Large accelerated filer &#9744;</div>
          </td>
          <td style="width: 33.34%; vertical-align: top;">
            <div>Accelerated filer &#9744;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 66.66%; vertical-align: top;">
            <div>Non-accelerated filer&#160; &#8999;</div>
          </td>
          <td style="width: 33.34%; vertical-align: top;">
            <div>Smaller reporting company &#8999;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 66.66%; vertical-align: top;">
            <div>Emerging growth company &#9744;</div>
          </td>
          <td style="width: 33.34%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
      Section 7(a)(2)(B) of the Securities Act. &#9744;</div>
    <div><br>
    </div>
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    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-weight: bold;">PART I.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 72pt">&#160;</font><font style="font-weight: bold;">INFORMATION

        REQUIRED IN THE SECTION 10(a) PROSPECTUS</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-weight: bold;">Items 1 and 2.</font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"></font><font style="font-weight: bold;">Plan Information; and Registrant Information and Employee Plan Annual Information</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The documents containing the information specified in Part I of Form S-8 have been or will be sent or given to participants in the IF Bancorp, Inc. 2022 Equity Incentive Plan
      (the &#8220;Plan&#8221;) as specified by Rule 428(b)(1) promulgated by the Securities and Exchange Commission (the &#8220;Commission&#8221;) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;).</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Such documents are not being filed with the Commission but constitute (along with the documents incorporated by reference into this Registration Statement pursuant to Item 3 of
      Part II hereof) a prospectus that meets the requirements of Section 10(a) of the Securities Act.</div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-weight: bold;">PART II.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 72pt">&#160;</font><font style="font-weight: bold;">INFORMATION

        REQUIRED IN THE REGISTRATION STATEMENT</font></div>
    <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-weight: bold;">Item 3.</font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="font-weight: bold;">Incorporation of Documents by Reference</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The following documents previously filed by IF Bancorp, Inc. (the &#8220;Company&#8221;) with the Commission under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), are
      incorporated herein by reference (other than any such documents or portions thereof that are furnished under Item 2.02 or Item 7.01 of Form&#160;8-K,&#160;unless otherwise indicated therein, including any exhibits included with such Items):</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">(a)<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>The Company&#8217;s Annual Report on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001514743/000119312522245393/d258356d10k.htm">Form 10-K for the year ended June 30, 2022</a>, filed with the Commission on September 15, 2022 (File No. for all 001-35226) (including information
      specifically incorporated by reference therein from the Company&#8217;s definitive proxy statement on <a href="https://www.sec.gov/Archives/edgar/data/1514743/000119312522261100/d394438ddef14a.htm">Schedule 14A, filed on October 12, 2022</a>);</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">(b)<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>The Company&#8217;s Quarterly Report on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001514743/000119312522282148/d413050d10q.htm">Form 10-Q for the quarter ended September 30, 2022</a>, filed with the Commission on November 10, 2022 (File No. 001-35226);</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">(c)<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>The Company&#8217;s Current Reports on Form 8-K filed with the
      Commission on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001514743/000094337422000314/form8k.htm">August 11, 2022</a> and <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001514743/000094337422000480/form8k_112122.htm">November

        22, 2022</a> (File No. 001-35226 for all); and</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">(d)<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>The description of the Company&#8217;s common stock contained in the
      <a href="https://www.sec.gov/Archives/edgar/data/1514743/000119312511182353/d8a12b.htm">Registration Statement on Form 8-A</a> filed with the Commission on July 6, 2011<font style="font-weight: bold;">&#160;</font>to register the Company&#8217;s common stock
      under the Exchange Act (File No. 001-35226), including any subsequent amendments or reports filed for the purpose of updating such description.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">All documents subsequently filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, or 15(d) of the Exchange Act, after the date hereof, and prior to the
      filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed incorporated by reference into this Registration Statement and to be a
      part thereof from the date of the filing of such documents.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Any statement contained in the documents incorporated, or deemed to be incorporated, by reference herein or therein shall be deemed to be modified or superseded for purposes of
      this Registration Statement and the prospectus to the extent that a statement contained herein or therein or in any other subsequently filed document which also is, or is deemed to be, incorporated by reference herein or therein modifies or
      supersedes such statement.&#160; Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement and the prospectus.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">All information appearing in this Registration Statement and the prospectus is qualified in its entirety by the detailed information, including financial statements, appearing in
      the documents incorporated herein or therein by reference.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Item 4.&#160; Description of Securities</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Not applicable.</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Item 5.&#160; Interests of Named Experts and Counsel</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">None.</div>
    <div style="text-align: justify; margin-bottom: 12pt; font-weight: bold;">Item 6.&#160;&#160;Indemnification of Directors and Officers</div>
    <div>
      <div style="text-align: justify; text-indent: 36pt;">Articles 10 and 11 of the Articles of Incorporation of IF Bancorp, Inc. (the &#8220;Corporation&#8221;) set forth the circumstances under which directors, officers, employees and agents of the Corporation may
        be insured or indemnified against liability which they may occur in their capacity as such:</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt; font-weight: bold;">ARTICLE 10.&#160; Indemnification, etc. of Directors and Officers.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;"><font style="font-weight: bold;">A.</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-weight: bold;">Indemnification</font>.&#160; The
        Corporation shall indemnify (1)&#160;its current and former directors and officers, whether serving the Corporation or at its request any other entity, to the fullest extent required or permitted by the Maryland General Corporation Law (&#8220;MGCL&#8221;) now or
        hereafter in force, including the advancement of expenses under the procedures and to the fullest extent permitted by law, and (2)&#160;other employees and agents to such extent as shall be authorized by the Board of Directors and permitted by law;
        provided, however, that, except as provided in Section&#160;B of this Article 10 with respect to proceedings to enforce rights to indemnification, the Corporation shall indemnify any such indemnitee in connection with a proceeding (or part thereof)
        initiated by such indemnitee only if such proceeding (or part thereof) was authorized by the Board of Directors of the Corporation.</div>
    </div>
    <div>
      <div>&#160;</div>
    </div>
    <div>
      <div style="text-indent: 36pt;"><font style="font-weight: bold;">B.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Procedure.&#160;</font>If a claim under Section&#160;A of this Article&#160;10 is not paid in full by the Corporation within sixty (60)&#160;days after
        a written claim has been received by the Corporation, except in the case of a claim for an advancement of expenses, in which case the applicable period shall be twenty (20)&#160;days, the indemnitee may at any time thereafter bring suit against the
        Corporation to recover the unpaid amount of the claim. If successful in whole or in part in any such suit, or in a suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the indemnitee shall
        also be entitled to be reimbursed the expense of prosecuting or defending such suit. It shall be a defense to any action for advancement of expenses that the Corporation has not received both (i)&#160;an undertaking as required by law to repay such
        advances in the event it shall ultimately be determined that the standard of conduct has not been met and (ii)&#160;a written affirmation by the indemnitee of his good faith belief that the standard of conduct necessary for indemnification by the
        Corporation has been met. In (i)&#160;any suit brought by the indemnitee to enforce a right to indemnification hereunder (but not in a suit brought by the indemnitee to enforce a right to an advancement of expenses) it shall be a defense that, and
        (ii)&#160;any suit by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking the Corporation shall be entitled to recover such expenses upon a final adjudication that, the indemnitee has not met the applicable
        standard for indemnification set forth in the MGCL. Neither the failure of the Corporation (including its Board of Directors, independent legal counsel, or its stockholders) to have made a determination prior to the commencement of such suit that
        indemnification of the indemnitee is proper in the circumstances because the indemnitee has met the applicable standard of conduct set forth in the MGCL, nor an actual determination by the Corporation (including its Board of Directors, independent
        legal counsel, or its stockholders) that the indemnitee has not met such applicable standard of conduct, shall create a presumption that the indemnitee has not met the applicable standard of conduct or, in the case of such a suit brought by the
        indemnitee, be a defense to such suit. In any suit brought by the indemnitee to enforce a right to indemnification or to an advancement of expenses hereunder, or by the Corporation to recover an advancement of expenses pursuant to the terms of an
        undertaking, the burden of proving that the indemnitee is not entitled to be indemnified, or to such advancement of expenses, under this Article&#160;10 or otherwise shall be on the Corporation.</div>
    </div>
    <div>
      <div>&#160;</div>
    </div>
    <div>
      <div style="text-indent: 40pt;"><font style="font-weight: bold;">C.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Non-Exclusivity.&#160;</font>The rights to indemnification and to the advancement of expenses conferred in this Article&#160;10 shall not be
        exclusive of any other right that any Person may have or hereafter acquire under any statute, these Articles, the Corporation&#8217;s Bylaws, any agreement, any vote of stockholders or the Board of Directors, or otherwise.</div>
    </div>
    <div>
      <div>&#160;</div>
    </div>
    <div>
      <div style="text-indent: 40pt;"><font style="font-weight: bold;">D.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Insurance.&#160;</font>The Corporation may maintain insurance, at its expense, to insure itself and any director, officer, employee or
        agent of the Corporation or another corporation, partnership, joint venture, trust or other enterprise against any expense, liability or loss, whether or not the Corporation would have the power to indemnify such Person against such expense,
        liability or loss under the MGCL.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-indent: 40pt;">&#160;</div>
      <div style="text-indent: 40pt;"><font style="font-weight: bold;">E.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Miscellaneous.&#160;</font>The Corporation shall not be liable for any payment under this Article&#160;10 in connection with a claim made by
        any indemnitee to the extent such indemnitee has otherwise actually received payment under any insurance policy, agreement, or otherwise, of the amounts otherwise indemnifiable hereunder. The rights to indemnification and to the advancement of
        expenses conferred in Sections&#160;A and B of this Article&#160;10 shall be contract rights and such rights shall continue as to an indemnitee who has ceased to be a director or officer and shall inure to the benefit of the indemnitee&#8217;s heirs, executors and
        administrators.</div>
      <div style="text-indent: 40pt;">&#160;</div>
      <div style="text-indent: 40pt;"><font style="font-weight: bold;">F.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Limitations Imposed by Federal Law.</font>&#160;&#160;Notwithstanding any other provision set forth in this Article 10, in no event shall any
        payments made by the Corporation pursuant to this Article 10 exceed the amount permissible under applicable federal law, including, without limitation, Section 18(k) of the Federal Deposit Insurance Act and the regulations promulgated thereunder.</div>
    </div>
    <div>
      <div>&#160;</div>
    </div>
    <div>
      <div style="text-indent: 40pt;">Any repeal or modification of this Article&#160;10 shall not in any way diminish any rights to indemnification or advancement of expenses of such director or officer or the obligations of the Corporation arising hereunder
        with respect to events occurring, or claims made, while this Article&#160;10 is in force.</div>
    </div>
    <div>
      <div>&#160;</div>
    </div>
    <div>
      <div style="text-indent: 40pt;"><font style="font-weight: bold;">ARTICLE&#160;11.&#160;&#160;Limitation of Liability.&#160;</font>An officer or director of the Corporation, as such, shall not be liable to the Corporation or its stockholders for money damages, except
        (A)&#160;to the extent that it is proved that the Person actually received an improper benefit or profit in money, property or services, for the amount of the benefit or profit in money, property or services actually received; or (B)&#160;to the extent that
        a judgment or other final adjudication adverse to the Person is entered in a proceeding based on a finding in the proceeding that the Person&#8217;s action, or failure to act, was the result of active and deliberate dishonesty and was material to the
        cause of action adjudicated in the proceeding; or (C)&#160;to the extent otherwise provided by the MGCL. If the MGCL is amended to further eliminate or limit the personal liability of officers and directors, then the liability of officers and directors
        of the Corporation shall be eliminated or limited to the fullest extent permitted by the MGCL, as so amended.</div>
    </div>
    <div>
      <div>&#160;</div>
    </div>
    <div>
      <div style="text-indent: 40pt;">Any repeal or modification of the foregoing paragraph by the stockholders of the Corporation shall not adversely affect any right or protection of a director or officer of the Corporation existing at the time of such
        repeal or modification.</div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <div style="text-align: justify; font-weight: bold;">Item 7.&#160; Exemption From Registration Claimed.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">Not applicable.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">Item 8.&#160; List of Exhibits.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z0a6a6ebf1fd54e8bb13ecf908b7c7032" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 19.92%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;">Regulation S-K</div>
            <div style="text-align: center;">Exhibit Number</div>
          </td>
          <td style="width: 2.82%; vertical-align: bottom;">&#160;</td>
          <td style="width: 77.26%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;">Document</div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">&#160;</td>
          <td style="width: 2.82%; vertical-align: top;">&#160;</td>
          <td style="width: 77.26%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">
            <div style="text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1514743/000119312511067480/ds1.htm">4</a></div>
          </td>
          <td style="width: 2.82%; vertical-align: top;"><br>
          </td>
          <td style="width: 77.26%; vertical-align: top;">
            <div style="text-align: justify;"><a href="https://www.sec.gov/Archives/edgar/data/1514743/000119312511067480/ds1.htm">Form of Common Stock Certificate (incorporated by reference to Exhibit 4 to the Registration Statement on Form S-1 (File No.
                333-172843) originally filed by the Company under the Securities Act with the Commission on March 16, 2011, and all amendments or reports filed for the purpose of updating such description)</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">&#160;</td>
          <td style="width: 2.82%; vertical-align: top;">&#160;</td>
          <td style="width: 77.26%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">
            <div style="text-align: center;"><a href="ex5-s8_113022.htm">5</a></div>
          </td>
          <td style="width: 2.82%; vertical-align: top;"><br>
          </td>
          <td style="width: 77.26%; vertical-align: top;">
            <div><a href="ex5-s8_113022.htm">Opinion of Luse Gorman, PC</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">&#160;</td>
          <td style="width: 2.82%; vertical-align: top;">&#160;</td>
          <td style="width: 77.26%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">
            <div style="text-align: center;"><a href="https://www.sec.gov/Archives/edgar/data/1514743/000119312522261100/d394438ddef14a.htm">10.1</a></div>
          </td>
          <td style="width: 2.82%; vertical-align: top;"><br>
          </td>
          <td style="width: 77.26%; vertical-align: top;">
            <div style="text-align: justify;"><a href="https://www.sec.gov/Archives/edgar/data/1514743/000119312522261100/d394438ddef14a.htm">IF Bancorp, Inc. 2022 Equity Incentive Plan (incorporated by reference to Appendix A to the proxy statement for
                the Annual Meeting of Stockholders of IF Bancorp, Inc., filed under the Exchange Act on October 12, 2022 (File No. 001-35226))</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">&#160;</td>
          <td style="width: 2.82%; vertical-align: top;">&#160;</td>
          <td style="width: 77.26%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">
            <div style="text-align: center;"><a href="ex102-s8_113022.htm">10.2</a></div>
          </td>
          <td style="width: 2.82%; vertical-align: top;"><br>
          </td>
          <td style="width: 77.26%; vertical-align: top;">
            <div><a href="ex102-s8_113022.htm">Form of Restricted Stock Award Agreement</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">&#160;</td>
          <td style="width: 2.82%; vertical-align: top;">&#160;</td>
          <td style="width: 77.26%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">
            <div style="text-align: center;"><a href="ex103-s8_113022.htm">10.3</a></div>
          </td>
          <td style="width: 2.82%; vertical-align: top;"><br>
          </td>
          <td style="width: 77.26%; vertical-align: top;">
            <div><a href="ex103-s8_113022.htm">Form of Incentive Stock Option Award Agreement</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">&#160;</td>
          <td style="width: 2.82%; vertical-align: top;">&#160;</td>
          <td style="width: 77.26%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">
            <div style="text-align: center;"><a href="ex104-s8_113022.htm">10.4</a></div>
          </td>
          <td style="width: 2.82%; vertical-align: top;"><br>
          </td>
          <td style="width: 77.26%; vertical-align: top;">
            <div><a href="ex104-s8_113022.htm">Form of Non-Qualified Stock Option Award Agreement</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">&#160;</td>
          <td style="width: 2.82%; vertical-align: top;">&#160;</td>
          <td style="width: 77.26%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">
            <div style="text-align: center;"><a href="ex5-s8_113022.htm">23.1</a></div>
          </td>
          <td style="width: 2.82%; vertical-align: top;"><br>
          </td>
          <td style="width: 77.26%; vertical-align: top;">
            <div><a href="ex5-s8_113022.htm">Consent of Luse Gorman, PC (contained in Exhibit 5)</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">&#160;</td>
          <td style="width: 2.82%; vertical-align: top;">&#160;</td>
          <td style="width: 77.26%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">
            <div style="text-align: center;"><a href="ex232-s8_113022.htm">23.2</a></div>
          </td>
          <td style="width: 2.82%; vertical-align: top;"><br>
          </td>
          <td style="width: 77.26%; vertical-align: top;">
            <div><a href="ex232-s8_113022.htm">Consent of FORVIS, LLP (Independent Registered Public Accounting Firm)</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">&#160;</td>
          <td style="width: 2.82%; vertical-align: top;">&#160;</td>
          <td style="width: 77.26%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">
            <div style="text-align: center;"><a href="#POWEROFATTORNEY">24</a></div>
          </td>
          <td style="width: 2.82%; vertical-align: top;"><br>
          </td>
          <td style="width: 77.26%; vertical-align: top;">
            <div><a href="#POWEROFATTORNEY">Power of Attorney (contained on signature page)</a></div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">&#160;</td>
          <td style="width: 2.82%; vertical-align: top;">&#160;</td>
          <td style="width: 77.26%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 19.92%; vertical-align: top;">
            <div style="text-align: center;"><a href="ex107-s8_113022.htm">107</a></div>
          </td>
          <td style="width: 2.82%; vertical-align: top;"><br>
          </td>
          <td style="width: 77.26%; vertical-align: top;">
            <div><a href="ex107-s8_113022.htm">Filing Fee Table</a></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div>
      <div style="font-weight: bold;">Item 9.&#160; Undertakings</div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The undersigned registrant hereby undertakes:</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">1.<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>To file, during any period in which offers or sales are being
      made, a post-effective amendment to the Registration Statement:</div>
    <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;">(i)<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>to include any prospectus required by Section 10(a)(3) of the
      Securities Act;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;">(ii)<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>to reflect in the prospectus any facts or events arising
      after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement.&#160;
      Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum
      offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) (Section 230.424(b)) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering
      price set forth in the &#8220;Calculation of Registration Fees&#8221; table in the effective registration statement;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-bottom: 12pt;">(iii)<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>to include any material information with respect to the plan
      of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;</div>
    <div style="text-align: justify; margin-bottom: 12pt;">provided, however, that paragraphs 1(i) and 1(ii) above do not apply if the information required to be included in a post-effective amendment by these paragraphs is contained in reports filed with
      or furnished to the Commission by the Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">2.<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>That, for the purpose of determining any liability under the
      Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <font style="font-style: italic;">bona fide</font> offering thereof;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">3.<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>To remove from registration by means of a post-effective
      amendment any of the securities being registered which remain unsold at the termination of the offering;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">4.<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>That, for purposes of determining any liability under the
      Securities Act, each filing of the registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that
      is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide
      offering thereof; and</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">5.<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font>Insofar as indemnification for liabilities arising under the
      Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against
      public policy as expressed in the Securities Act and is, therefore, unenforceable.&#160; In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer
      or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the
      opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be
      governed by the final adjudication of such issue.</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
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    <div style="text-align: center;"><font style="font-weight: bold;">SIGNATURES</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">The Registrant.</font>&#160; Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe
      that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Watseka, State of Illinois, on November
      30, 2022.</div>
    <div style="margin-bottom: 12pt;"><br>
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        <tr>
          <td style="width: 41.92%; vertical-align: top;">&#160;</td>
          <td style="width: 9.92%; vertical-align: top;">&#160;</td>
          <td style="width: 48.16%; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">IF BANCORP, INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 41.92%; vertical-align: top;">&#160;</td>
          <td style="width: 9.92%; vertical-align: top;">&#160;</td>
          <td style="width: 48.16%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 41.92%; vertical-align: top;">&#160;</td>
          <td style="width: 9.92%; vertical-align: top;">&#160;</td>
          <td style="width: 48.16%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 41.92%; vertical-align: top;">&#160;</td>
          <td style="width: 9.92%; vertical-align: top;">
            <div style="text-align: right;">By:&#160;&#160; <br>
            </div>
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            <div style="text-align: justify;">&#160;<u>/s/ Walter H. Hasselbring, III</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 41.92%; vertical-align: top;">&#160;</td>
          <td style="width: 9.92%; vertical-align: top;">&#160;</td>
          <td style="width: 48.16%; vertical-align: top;">
            <div style="text-align: justify;">Walter H. Hasselbring, III</div>
          </td>
        </tr>
        <tr>
          <td style="width: 41.92%; vertical-align: top;">&#160;</td>
          <td style="width: 9.92%; vertical-align: top;">&#160;</td>
          <td style="width: 48.16%; vertical-align: top;">
            <div style="text-align: justify;">President and Chief Executive Officer</div>
          </td>
        </tr>
        <tr>
          <td style="width: 41.92%; vertical-align: top;">&#160;</td>
          <td style="width: 9.92%; vertical-align: top;">&#160;</td>
          <td style="width: 48.16%; vertical-align: top;">
            <div style="text-align: justify;">(Duly Authorized Representative)</div>
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    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><a name="POWEROFATTORNEY"><!--Anchor--></a>POWER OF ATTORNEY</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">We, the undersigned directors and officers of IF Bancorp, Inc. (the &#8220;Company&#8221;) hereby severally constitute and appoint Walter H. Hasselbring, III, as our true and lawful attorney
      and agent, to do any and all things in our names in the capacities indicated below which said Walter H. Hasselbring, III may deem necessary or advisable to enable the Company to comply with the Securities Act of 1933, as amended (the &#8220;Securities
      Act&#8221;), and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with the registration of shares of common stock to be granted and shares of common stock to be issued upon the exercise of stock options to be
      granted under the IF Bancorp, Inc. 2022 Equity Incentive Plan, including specifically, but not limited to, power and authority to sign for us in our names in the capacities indicated below the registration statement and any and all amendments
      (including post-effective amendments) thereto; and we hereby approve, ratify and confirm all that said Janak M. Amin shall do or cause to be done by virtue thereof.</div>
  </div>
  <div>
    <div>
      <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Pursuant to the requirements of the Securities Act, this registration statement has been signed by the following
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          <tr>
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              <div>Signatures</div>
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          <tr>
            <td style="width: 29.14%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 34.78%; vertical-align: top;">&#160;</td>
            <td style="width: 3.96%; vertical-align: top;">&#160;</td>
            <td style="width: 29.12%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 29.14%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 34.78%; vertical-align: top;">&#160;</td>
            <td style="width: 3.96%; vertical-align: top;">&#160;</td>
            <td style="width: 29.12%; vertical-align: top;">&#160;</td>
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            <td style="width: 29.14%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>&#160;/s/ Walter H. Hasselbring, III</div>
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            <td style="width: 34.78%; vertical-align: top;">
              <div>President, Chief Executive Officer and Director</div>
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            <td style="width: 3.96%; vertical-align: top;">&#160;</td>
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              <div>November 30, 2022</div>
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          </tr>
          <tr>
            <td style="width: 29.14%; vertical-align: top;">
              <div>Walter H. Hasselbring, III</div>
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            <td style="width: 34.78%; vertical-align: top;">
              <div>(Principal Executive Officer)</div>
            </td>
            <td style="width: 3.96%; vertical-align: top;">&#160;</td>
            <td style="width: 29.12%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 29.14%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 34.78%; vertical-align: top;">&#160;</td>
            <td style="width: 3.96%; vertical-align: top;">&#160;</td>
            <td style="width: 29.12%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 29.14%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 34.78%; vertical-align: top;">&#160;</td>
            <td style="width: 3.96%; vertical-align: top;">&#160;</td>
            <td style="width: 29.12%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 29.14%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div>&#160;/s/ Pamela J. Verkler</div>
            </td>
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            <td style="width: 29.14%; vertical-align: top;">&#160;</td>
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          <td style="width: 29.14%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 34.78%; vertical-align: top;">&#160;</td>
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          <td style="width: 34.78%; vertical-align: top;">&#160;</td>
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          <td style="width: 29.14%; vertical-align: top;">&#160;</td>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>2
<FILENAME>ex5-s8_113022.htm
<DESCRIPTION>OPINION OF LUSE GORMAN, PC
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Luse Gorman
         Document created using EDGARfilings PROfile 8.3.1.0
         Copyright 1995 - 2022 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div style="text-align: right; font-weight: bold;">Exhibit 5</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">LUSE GORMAN, PC</div>
    <div style="text-align: center; font-size: 8pt; font-weight: bold;">ATTORNEYS AT LAW</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 8pt; font-weight: bold;">5335 WISCONSIN AVENUE, N.W., SUITE 780</div>
    <div style="text-align: center; font-size: 8pt; font-weight: bold;">WASHINGTON, D.C. 20015</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 8pt; font-weight: bold;">TELEPHONE (202) 274-2000</div>
    <div style="text-align: center; font-size: 8pt; font-weight: bold;">FACSIMILE (202) 362-2902</div>
    <div style="text-align: center; font-size: 8pt;">www.luselaw.com</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>November 30, 2022</div>
    <div><br>
    </div>
    <div>Board of Directors</div>
    <div>IF Bancorp, Inc.</div>
    <div>201 East Cherry Street</div>
    <div>Watseka, Illinois 60970</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z142d2b57f88149ccb1a6e4aa611c0c72" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">Re:</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;"><u>IF Bancorp, Inc. - Registration Statement on Form S-8</u></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Ladies and Gentlemen:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">You have requested the opinion of this firm as to certain matters in connection with the registration of 264,850 shares of common stock,
      $0.01 par value per share (the &#8220;Shares&#8221;), of IF Bancorp, Inc. (the &#8220;Company&#8221;) to be issued pursuant to the IF Bancorp, Inc. 2022 Equity Incentive Plan (the &#8220;Equity Plan&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">In rendering the opinion expressed herein, we have reviewed the Articles of Incorporation and Bylaws of the Company, the Equity Plan,
      the Company&#8217;s Registration Statement on Form S-8 (the &#8220;Form S-8&#8221;), as well as resolutions of the board of directors of the Company and applicable statutes and regulations governing the Company.&#160; We have assumed the authenticity, accuracy and
      completeness of all documents in connection with the opinion expressed herein.&#160; We have also assumed the legal capacity and genuineness of the signatures of persons signing all documents in connection with which the opinions expressed herein are
      rendered. This opinion is limited to matters of Maryland corporate law.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">Based on the foregoing, we are of the following opinion:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">Following the effectiveness of the Form S-8, the Shares of the Company, when issued in accordance with the terms and conditions of the
      Equity Plan, will be legally issued, fully paid and non-assessable.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">This opinion has been prepared solely for the use of the Company in connection with the preparation and filing of the Form S-8, and
      shall not be used for any other purpose or relied upon by any other person without the prior express written consent of this firm.&#160; We hereby consent to the use of this opinion in the Form S-8.&#160; By giving such consent, we do not hereby admit that we
      are in the category of persons whose consent is required under Section&#160;7 of the Securities Act of 1933, as amended.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z4c3d678681544f1fa4f7f8a374f9ff0e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>Very truly yours,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div><u>/s/ Luse Gorman, PC</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>LUSE GORMAN, PC</div>
          </td>
        </tr>

    </table>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex102-s8_113022.htm
<DESCRIPTION>FORM OF RESTRICTED STOCK AWARD AGREEMENT
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Luse Gorman
         Document created using EDGARfilings PROfile 8.3.1.0
         Copyright 1995 - 2022 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.2</font><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div>
    <div style="text-align: center; font-size: 12pt; font-variant: small-caps; font-weight: bold;">FORM OF</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">RESTRICTED STOCK AWARD AGREEMENT</div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: center; font-size: 12pt;">Granted by</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-variant: small-caps; font-weight: bold;">IF Bancorp, Inc.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt;">under the</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">IF Bancorp, Inc.</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">2022 EQUITY INCENTIVE PLAN</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-size: 12pt;">This restricted stock agreement (&#8220;<font style="font-weight: bold;">Restricted Stock Award</font>&#8221; or &#8220;<font style="font-weight: bold;">Agreement</font>&#8221;) is and will be subject in every respect to the
      provisions of the 2022 Equity Incentive Plan (the &#8220;<font style="font-weight: bold;">Plan</font>&#8221;) of IF Bancorp, Inc. (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;) which are incorporated herein by reference and made a part hereof, subject
      to the provisions of this Agreement.&#160; A copy of the Plan has been provided or made available to each person granted a Restricted Stock Award pursuant to the Plan.&#160; The holder of this Restricted Stock Award (the &#8220;<font style="font-weight: bold;">Participant</font>&#8221;)
      hereby accepts this Restricted Stock Award, subject to all the terms and provisions of the Plan and this Agreement, and agrees that all decisions under and interpretations of the Plan and this Agreement by the Compensation Committee of the Board of
      Directors of the Company (the &#8220;<font style="font-weight: bold;">Committee</font>&#8221;) or by the Board of Directors, will be final, binding and conclusive upon the Participant and the Participant&#8217;s heirs, legal representatives, successors and permitted
      assigns.&#160; Except where the context otherwise requires, the term &#8220;Company&#8221; will include the parent and all present and future subsidiaries of the Company as defined in Section 424(e) and 424(f) of the Internal Revenue Code of 1986, as amended from
      time to time (the &#8220;<font style="font-weight: bold;">Code</font>&#8221;).&#160; Capitalized terms used herein but not defined will have the same meaning as in the Plan.</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">1.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-size: 12pt;"><font style="font-weight: bold;">Name of Participant:</font>&#160; _________________________________</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable">

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              <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="font-weight: bold;">Date of Grant:</font>&#160; _________________________________</div>
              </td>
            </tr>

        </table>
      </div>
      <br>
      <font style="font-size: 12pt; font-weight: bold;"></font></div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">3.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-size: 12pt;"><font style="font-weight: bold;">Total number of shares of Company common stock, $0.01 par value per share, covered by this Restricted Stock Award:______________________________</font></div>
              <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt;">
                <div>(subject to adjustment pursuant to Section 8 hereof).</div>
                <font style="font-weight: bold;"></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8ce579498dcc4313a48b6652afafc59a">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">4.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;"><font style="font-weight: bold;">Vesting Schedule</font>.&#160; Except as otherwise provided in this Agreement, this Restricted Stock Award first becomes earned in accordance with the vesting schedule specified herein.</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-left: 36.7pt; font-size: 12pt;"> <br>
    </div>
    <div style="text-align: justify; margin-left: 36.7pt; font-size: 12pt;">The Restricted Stock granted under this Agreement shall vest in ____ (__) equal annual installments (provided that fractional shares of Restricted Stock will not vest), with the
      first installment vesting on the first anniversary of the date of grant, or <u>&#160; &#160; &#160;&#160; </u>, 20<u>&#160;&#160; </u>, and succeeding installments on each anniversary thereafter, through <u>&#160; &#160; &#160; &#160; &#160; &#160; &#160; </u>, 20<u>&#160;&#160; </u>, subject to accelerated vesting
      under Section 9 of this Agreement.&#160; Notwithstanding the foregoing, to the extent vesting would vest in a fractional share of Restricted Stock vesting, the number of shares of Restricted Stock vesting should be rounded to the nearest share (with &#8220;.5&#8221;
      of a share rounded up).</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36.7pt; font-size: 12pt;">As set forth in Section 9 of this Agreement, vesting will automatically accelerate pursuant to Sections 2.7 and 4.1 of the Plan in the event of death, Disability or Involuntary
      Termination of Service at or following a Change in Control.<br>
      <br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z79ae5704205e42faa93f240c197124b9">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">5.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;"><font style="font-weight: bold;">Grant of Restricted Stock Award.&#160; </font>The Restricted Stock Award will be in the form of issued and outstanding shares of Stock registered in the name of the Participant and held
              by the Company, together with a stock power executed by the Participant in favor of the Company, pending the vesting or forfeiture of the Restricted Stock.&#160; Notwithstanding the foregoing, the Company may, in its sole discretion, issue
              Restricted Stock in any other format (e.g., electronically) in order to facilitate the paperless transfer of the Awards.</div>
            <div style="font-size: 12pt;"> <br>
            </div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-left: 36pt; font-size: 12pt;">If certificated, the certificates evidencing the Restricted Stock Award will bear a legend restricting the transferability of the Restricted Stock.&#160; The Restricted Stock awarded to
      the Participant will not be sold, encumbered hypothecated or otherwise transferred except in accordance with the terms of the Plan and this Agreement.</div>
    <div style="text-align: justify; margin-left: 36pt; font-size: 12pt;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfb30f8f158df42b2808e157dd68a653b">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">&#160;6.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;"><font style="font-weight: bold;">Terms and Conditions</font>.</div>
            <div style="font-size: 12pt;"> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z99b987f5bf1f4fe6b77568ea2ab3ea6a">

        <tr>
          <td style="width: 34.95pt;"><br>
          </td>
          <td style="width: 37.05pt; vertical-align: top; align: right; font-size: 12pt;">6.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;">The Participant will have the right to vote the shares of Restricted Stock awarded and outstanding under this Agreement on matters that require a shareholder vote.</div>
            <div style="font-size: 12pt;"> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbc7baefe845244c788b7df74ea835716">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">6.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;">Any cash dividends or distributions declared with respect to shares of Restricted Stock awarded and outstanding under this Agreement will be distributed to the Participant at the time the underlying shares of
              Restricted Stock vest.&#160; Any stock dividends declared on shares of Stock subject to a Restricted Stock Award will be subject to the same restrictions as the Restricted Stock and will vest at the same time as the shares of Restricted Stock from
              which said dividends were derived.</div>
            <div style="font-size: 12pt;"> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z78b52a255bff4cf3850d418f588f62cd">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">7.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;"><font style="font-weight: bold;">Delivery of Shares</font>.&#160; Delivery of shares of Stock under this Restricted Stock Award will comply with all applicable laws (including, the requirements of the Securities Act),
              and the applicable requirements of any securities exchange or similar entity.</div>
            <div style="font-size: 12pt;"> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2185d03e0984433294867f8c057c2262">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">8.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;"><font style="font-weight: bold;">Adjustment Provisions.&#160; </font>This Restricted Stock Award, including the number of shares subject to the Restricted Stock Award, will be adjusted upon the occurrence of the events
              specified in, and in accordance with the provisions of, Section 3.4 of the Plan.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf7359be69ca54372a3a33f9700dae8e1">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">9.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;"><font style="font-weight: bold;">Effect of Termination of Service on Restricted Stock Award</font>.</div>
            <div style="font-size: 12pt;"> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z45f587e09af24356a6aefbe790961838">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">9.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;">Upon the Participant&#8217;s Termination of Service, this Restricted Stock Award will vest as follows:</div>
            <div style="font-size: 12pt;"> <br>
            </div>
          </td>
        </tr>

    </table>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z406bfa6051c54147a7be1e9c6779253b">

          <tr>
            <td style="width: 108pt; vertical-align: top; font-style: normal;">
              <div style="margin-left: 72pt; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">(i)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 12pt;"><font style="font-weight: bold;">Death</font>.&#160; In the event of the Participant&#8217;s Termination of Service by reason of death, any unvested shares of Restricted Stock subject to this Agreement
                will immediately vest.</div>
              <div style="text-align: justify; font-size: 12pt;"> <br>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1b2995d2348c4366b1cec3f1e95ce031">

          <tr>
            <td style="width: 108.3pt; vertical-align: top; align: right;">
              <div style="margin-left: 71.25pt; font-size: 12pt;">(ii)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-size: 12pt;"><font style="font-weight: bold;">Disability</font>.&#160; In the event of the Participant&#8217;s Termination of Service by reason of Disability, any unvested shares of Restricted Stock subject to this
                Agreement will immediately vest.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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    <div style="margin-bottom: 12pt; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9618033bb3174c248d5ceb7d7c7a32e8">

            <tr>
              <td style="width: 108.3pt; vertical-align: top; align: right;">
                <div style="margin-left: 71.25pt; font-size: 12pt;">(iii)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-size: 12pt;"><font style="font-weight: bold;">Retirement</font>.&#160; In the event of the Participant&#8217;s Termination of Service by reason of Retirement, any unvested shares of Restricted Stock subject to this Agreement will
                  expire and be forfeited as of the date of the Termination of Service.</div>
                <div style="font-size: 12pt;"> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb20282c04fc549cfa038f431710997e0">

            <tr>
              <td style="width: 108.3pt; vertical-align: top; align: right;">
                <div style="margin-left: 71.25pt; font-size: 12pt;">(iv)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-size: 12pt;"><font style="font-weight: bold;">Change in Control</font>.&#160; In the event of the Participant&#8217;s Involuntary Termination of Service at or following a Change in Control, any unvested shares of Restricted Stock
                  subject to this Agreement will immediately vest.</div>
                <div style="font-size: 12pt;"> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3316ab134773480dbd1e42670f7e7bd0">

            <tr>
              <td style="width: 108pt; vertical-align: top; align: right;">
                <div style="margin-left: 72pt; font-size: 12pt;">(v)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt;"><font style="font-weight: bold;">Termination for Cause</font><font style="font-style: italic;">.</font>&#160; In the event of the Participant&#8217;s Termination of Service for Cause, any unvested
                  shares of Restricted Stock subject to this Agreement will expire and be forfeited as of the date of the Termination of Service.</div>
                <div style="text-align: justify; font-size: 12pt;"> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6dc6bcda2f1b4cfca825d2de701d1cff">

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              <td style="width: 108pt; vertical-align: top; align: right;">
                <div style="margin-left: 72pt; font-size: 12pt;">(vi)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-size: 12pt;"><font style="font-weight: bold;">Other Termination</font><font style="font-style: italic;">.</font> In the event of the Participant&#8217;s Termination of Service for any reason other than due to
                  death, Disability or for Cause or an Involuntary Termination of Service at or following a Change in Control, any unvested shares of Restricted Stock subject to this Agreement will expire and be forfeited as of the date of the Termination
                  of Service.</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="ze3e2f5b51b6f4bdc8b08c625755eea9a">

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          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt; font-weight: bold;">10.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Miscellaneous.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z512ba619ca0a4471b0298f8acb3847e2">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">10.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;">This Restricted Stock Award will confer upon the Participant any rights as a stockholder of the Company with respect to the shares underlying the Award prior to the date on which the individual fulfills all
              conditions for receipt of such rights.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z59919519ab6049f9826e930149664792">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">10.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;">Except as otherwise provided for in the Plan, this Agreement may not be amended or otherwise modified unless evidenced in writing and signed by the Company and the Participant.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z803e459e98704f319c55ff2ca201e708">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">10.3</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;">This Restricted Stock Award is not transferable except as provided for in the Plan.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z77a1c55f7ead4cee98edee71b2c03f55">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">10.4</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;">This Restricted Stock Award will be governed by and construed in accordance with the laws of the State of Illinois.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="zf02a286d5d024ba694e1942b920acc5e">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">10.5</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;">This Restricted Stock Award is subject to all laws, regulations and orders of any governmental authority which may be applicable thereto and, notwithstanding any of the provisions hereof, the Company will not be
              obligated to issue any shares of Stock hereunder if the issuance of the shares would constitute a violation of any such law, regulation or order or any provision thereof.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z62b53f0eab5b40cfaf3e8233824eafa2">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">10.6</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;">Restricted Stock Awards under this Agreement are subject to any required federal, state and local tax withholding which may be effected in the manner or manners permitted by the Company.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="zdc7e71461c824523a1c9d266400283ab">

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          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">10.7</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;">Nothing in this Agreement will interfere with or limit in any way the right of the Company or any Affiliate to terminate the employment or service of the Participant at any time, nor confer upon the Participant any
              right to continue in the employ or service of the Company or any Affiliate.</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
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    </div>
    <br>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z64fe66d6646b4969bdbcf8fbf84e9047">

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          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">10.8</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt;">In the event of a conflict between the terms of this Agreement and the Plan, the terms of the Plan will control.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z9bcc7d1475374c1d916c757b63f5e862">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-size: 12pt;">10.9</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-size: 12pt;">This Award Agreement shall be binding upon any successor of the Company, in accordance with the terms of this Agreement and the Plan.</div>
          </td>
        </tr>

    </table>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt;">[Signature Page Follows]</div>
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    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">IN WITNESS WHEREOF, the Company has caused this instrument to be executed in its name and on its behalf as of the date of grant of this Restricted Stock Award
      set forth above.</div>
    <div style="margin-left: 252pt; margin-bottom: 24pt; font-size: 12pt; font-variant: small-caps; font-weight: bold;">IF Bancorp, Inc.</div>
    <div style="margin: 0px 0px 0px; text-align: justify; text-indent: 254.85pt;"><font style="font-size: 12pt;">By:</font><font style="display: inline-block; text-indent: 0px; font-size: 12pt; width: 216pt;" id="TRGRRTFtoHTMLTab">________________________
      </font><font style="font-size: 12pt;"></font></div>
    <div style="text-align: justify; text-indent: 254.85pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">Its:</font><font style="display: inline-block; text-indent: 0px; font-size: 12pt; width: 216pt;" id="TRGRRTFtoHTMLTab">
        ________________________</font></div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">PARTICIPANT&#8217;S ACCEPTANCE</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt; font-size: 12pt;">The undersigned hereby accepts the foregoing Restricted Stock Award and agrees to the terms and conditions hereof, including the terms and provisions of the
      Plan. The undersigned hereby acknowledges receipt of a copy of the Plan and related prospectus.</div>
    <div style="text-align: justify; text-indent: 252pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">PARTICIPANT</div>
    <div style="text-align: justify; text-indent: 252pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;"> <br>
    </div>
    <div style="margin-bottom: 12pt; font-size: 12pt;"><br>
    </div>
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      </font></div>
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    </div>
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  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex103-s8_113022.htm
<DESCRIPTION>FORM OF INCENTIVE STOCK OPTION AWARD AGREEMENT
<TEXT>
<html>
  <head>
    <title></title>
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.3</font><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div>
    <div style="text-align: center; font-variant: small-caps; font-weight: bold;">FORM OF</div>
    <div style="text-align: center; font-weight: bold;">INCENTIVE STOCK OPTION AWARD AGREEMENT</div>
    <div><br>
    </div>
    <div style="text-align: center;">Granted by</div>
    <div><br>
    </div>
    <div style="text-align: center; font-variant: small-caps; font-weight: bold;">IF Bancorp, Inc.</div>
    <div><br>
    </div>
    <div style="text-align: center;">under the</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">IF Bancorp, Inc.</div>
    <div style="text-align: center; font-weight: bold;">2022 EQUITY INCENTIVE PLAN</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">This stock option agreement (&#8220;<font style="font-weight: bold;">Option</font>&#8221; or &#8220;<font style="font-weight: bold;">Agreement</font>&#8221;) is and will be subject in every respect to the provisions of the
      IF Bancorp, Inc. 2022 Equity Incentive Plan (the &#8220;<font style="font-weight: bold;">Plan</font>&#8221;) of IF Bancorp, Inc. (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;), which are incorporated herein by reference and made a part hereof, subject
      to the provisions of this Agreement.&#160; A copy of the Plan and related prospectus have been provided to each person granted a stock option pursuant to the Plan.&#160; The holder of this Option (the &#8220;<font style="font-weight: bold;">Participant</font>&#8221;)
      hereby accepts this Option, subject to all the terms and provisions of the Plan and this Agreement, and agrees that all decisions under and interpretations of the Plan and this Agreement by the Compensation Committee of the Board of Directors of the
      Company (the &#8220;<font style="font-weight: bold;">Committee</font>&#8221;) or the Board of Directors will be final, binding and conclusive upon the Participant and the Participant&#8217;s heirs, legal representatives, successors and permitted assigns.&#160; Except where
      the context otherwise requires, the term &#8220;Company&#8221; includes the parent and all present and future subsidiaries of the Company as defined in Section 424(e) and 424(f) of the Internal Revenue Code of 1986, as amended from time to time (the &#8220;<font style="font-weight: bold;">Code</font>&#8221;).&#160; Capitalized terms used herein but not defined will have the same meaning as in the Plan.</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"> <br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">1.</td>
            <td style="width: auto; vertical-align: top;">
              <div><font style="font-weight: bold;">Name of Participant</font>:________________________________</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">2.</td>
            <td style="width: auto; vertical-align: top;">
              <div><font style="font-weight: bold;">Date of Grant</font>: ________________, 20___</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z18ac960953834f90ac95da7d77ac66cf">

          <tr>
            <td style="width: 37.05pt; vertical-align: top; align: right;">
              <div style="font-weight: bold;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">Total number of shares of Company common stock, $0.01 par value per share, that may be acquired pursuant to this Option</font>:______________<br>
                (subject to adjustment pursuant to Section 9 hereof).<br>
                <br>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z06bef57333cc404faabcab9a63f62ea5">

          <tr>
            <td style="width: 90pt; vertical-align: top; align: right;">
              <div style="margin-left: 72pt;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">This Award is intended to be an Incentive Stock Option. The Option will be an Incentive Stock Option to the maximum extent permitted under Code Section 422(d),&#160; which convers incentive tax treatment on the
                first $100,000 of Incentive Stock Options (based on the exercise price of the Option) that vest in any one calendar year, provided the Participant holds the share(s) received on exercise for the longer of one year from the date of exercise
                or two years from the date of grant of the Option.</div>
              <div style="text-align: justify;"> <br>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z36b5809f775744049f8f5cb53115660c">

          <tr>
            <td style="width: 90pt; vertical-align: top; align: right;">
              <div style="margin-left: 72pt;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Please note that for purposes of determining the maximum number of Options that can vest in any one calendar year as Incentive Stock Options, the Options granted to you pursuant to this Agreement that vest in
                a calendar year will be aggregated with any earlier Option grant you received that vest in the same calendar year.&#160; If you vest in the maximum number of Incentive Stock Options in which you are permitted to vest for a calendar year under a
                prior Option Award, any Options that you receive under this Agreement that vest in the same calendar year will be considered Non-Qualified Stock Options.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">4.</td>
            <td style="width: auto; vertical-align: top;">
              <div><font style="font-weight: bold;">Exercise price per share:</font> ________________</div>
              <div>(subject to adjustment pursuant to Section 9 below) </div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
      <font style="font-weight: bold;"></font></div>
    <div style="text-indent: 36pt;"><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">5.</td>
          <td style="width: auto; vertical-align: top;">
            <div><font style="font-weight: bold;">Expiration Date of Option: </font>_________, 20&#160; &#160; &#160; .&#160; Notwithstanding anything in this Agreement to the contrary, no part of this Option may be exercised at any time on or after the expiration date.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze1e76836a6b2424aaa498bf2cae91105">

        <tr>
          <td style="width: 34.2pt; vertical-align: top; align: right; font-weight: bold;">6.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Vesting Schedule</font>.&#160; Except as otherwise provided in this Agreement, this Option first becomes exercisable, subject to the Option&#8217;s expiration date, in accordance with the vesting schedule specified
              herein.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-left: 36.7pt;">The Options granted under this Agreement shall vest in _____ (__) equal annual installments (provided that fractional Options will not vest), with the first installment becoming exercisable on the
      first anniversary of the date of grant, or <u>&#160; &#160; &#160;&#160; </u>, 20<u>&#160;&#160; </u>, and succeeding installments on each anniversary thereafter, through <u>&#160; &#160; &#160; &#160; &#160;&#160; </u>, 20<u>&#160; &#160;&#160; </u>, subject to accelerated vesting under Section 10 of this Agreement.&#160;
      Notwithstanding the foregoing, to the extent the vesting would vest in a fractional Option, the number of Options vesting should be rounded to the nearest Option&#160; (with &#8220;.5&#8221; of an Option rounded up). This Option may not be exercised at any time on or
      after the Option&#8217;s expiration date.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 37.05pt;">As set forth in Section 10 of this Agreement, vesting will automatically accelerate pursuant to Sections 2.7 and 4.1 of the Plan in the event of death, Disability or Involuntary Termination of
      Service at or following a Change in Control.</div>
    <div style="text-align: justify; margin-left: 37.05pt;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7faad33e8e8648498e45b5a7a5273bd6">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">7.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Exercise Procedure and Delivery of Notice of Exercise of Option.</font>&#160; This Option may be exercised in whole or in part by the Participant&#8217;s delivery to the Company of written notice (the &#8220;<font style="font-weight: bold;">Notice of Exercise of Option</font>&#8221; attached hereto as <u>Exhibit A</u> or as otherwise acceptable to the Company) setting forth the number of shares with respect to which this Option is to be exercised,
              together with payment by cash or other means acceptable to the Committee, in accordance with the Plan.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd13c1bc9face4bb7a32911ac1953e14f">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">8.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Delivery of Shares.&#160; </font>Delivery of shares of Stock upon the exercise of this Option will comply with all applicable laws (including the requirements of the Securities Act of 1933, as amended) and the
              applicable requirements of any securities exchange or similar entity.</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zceeed58e0c3b44f5890e50ed703f5897">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">9.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Adjustment Provisions.&#160; </font>This Option, including the number of shares subject to the Option and the exercise price, will be adjusted upon the occurrence of the events specified in, and in accordance
              with the provisions of Section 3.4 of the Plan.<br>
            </div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify;"><font style="font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: justify;">
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

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            <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">10.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Times New Roman',Times,serif;">
                <div><font style="font-family: 'Times New Roman', Times, serif;"><font style="font-weight: bold;">Accelerated Vesting and Exercisability Period</font>.</font></div>
                <div><font style="font-family: 'Times New Roman', Times, serif;"> <br>
                  </font></div>
                <div>The vesting of this Option will accelerate as set forth in the following&#160; provisions under the Plan:</div>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <br>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb0a6349339ac40a3a241a90528111a1b">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">10.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Death.&#160; </font>In the event of the Participant&#8217;s Termination of Service by reason of death, any unvested portion of this Option will vest and any unexercised portion of the Option may thereafter be
              exercised by the Participant&#8217;s legal representative or beneficiaries for a period of one (1) year from the Participant&#8217;s date of death.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6a94c47cc49a4453b1641c4fc39d81d7">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">10.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Disability</font>.&#160; In the event of the Participant&#8217;s Termination of Service by reason of the Participant&#8217;s Disability, any unvested portion of this Option will vest and any unexercised portion of the
              Option may thereafter be exercised by the Participant or the Participant&#8217;s legal representative for a period of one (1) year following the Termination of Service due to Disability.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8eb1a41c9fdc465db7d627ac1a7efcc6">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">10.3</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Change in Control.</font>&#160; In the event of the Participant&#8217;s Involuntary Termination of Service at or following a Change in Control, any unvested portion of the Option will vest and any unexercised portion
              of the Option may be exercised by the Participant or the Participant&#8217;s legal representative for a period of one (1) year following the Participant&#8217;s Involuntary Termination of Service.</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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    <div style="margin-left: 72pt;"><br>
    </div>
    <div style="margin-left: 72pt;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3dfb3fc95b4a4430a50b1f80ab9e265f">

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          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">10.4</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Retirement</font>.&#160; In the event of the Participant&#8217;s Termination of Service by reason of the Participant&#8217;s Retirement, vested Options may be exercised for a period of one (1) year from the date of
              Termination of Service. Options that have not vested will expire and be forfeited on the date of Termination of Service by reason of Retirement.&#160; &#8220;Retirement&#8221; has the meaning set forth in Article 8 of the Plan.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zde333b7814874981a7a9045f7b9c21fc">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">10.5</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Termination for Cause</font><font style="font-style: italic;">.</font>&#160; In the event of the Participant&#8217;s Termination of Service for Cause, all Options subject to this Agreement that have not been exercised
              will immediately expire and be forfeited.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze7d8a2d65d1b439597ad75df53aef21b">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">10.6</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Other Termination</font><font style="font-style: italic;">.</font>&#160; In the event of the Participant&#8217;s Termination from Service for any reason other than due to death, Disability, Retirement, Involuntary
              Termination at or following a Change in Control, or for Cause, this Option may thereafter be exercised, only to the extent it was exercisable at the time of the termination and only for a period of three (3) months following the termination.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z833f22f776f0474c9107824a0a5eb2f2">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">11.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Incentive Option Treatment</font>.&#160; The Incentive Stock Options granted hereunder are subject to the requirements of Code Section 421.&#160; No Option will be eligible for treatment as an Incentive Stock Option
              in the event such Option is exercised more than three (3) months following Termination of Service (except in the case of Termination of Service due to death or Disability).&#160; In order to obtain Incentive Stock Option treatment for Options
              exercised by heirs or devisees of the Participant, the Participant&#8217;s death must have occurred while the Participant was employed or within three (3) months of the Participant&#8217;s Termination of Service.</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify;"><br>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">12.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div><font style="font-weight: bold;">Miscellaneous.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zddbc84564444415a901f798bc87f23d1">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">12.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>No Option will confer upon the Participant any rights as a stockholder of the Company prior to the date on which the individual fulfills all conditions for receipt of such rights.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zccf03b9553be4bcc8752539d6ec1f8ab">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">12.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Except as otherwise provided for in the Plan, this Agreement may not be amended or otherwise modified unless evidenced in writing and signed by the Company and the Participant.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zed49de5e17ae42d1bb5437269e4fa3cc">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 35.3pt; vertical-align: top; align: right; font-weight: bold;">12.3</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Except as otherwise provided by the Committee, Incentive Stock Options under the Plan are not transferable except (i) as designated by the Participant by will or by the laws of descent and distribution; (ii) to a trust established by the
              Participant; or (iii) between spouses incident to a divorce or pursuant to a domestic relations order, provided, however,&#160; that in the case of a transfer described under (iii), the Option will not qualify as an Incentive Stock Option as of
              the day of the transfer.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0c9642a98f2748778e4b730a1ca598d1">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 35.3pt; vertical-align: top; align: right; font-weight: bold;">12.4</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Under current tax laws, an Option that is exercised as an Incentive Stock Option is not subject to ordinary income taxes so long as it is held for the requisite holding period, which is two (2) years from the grant date of the Option and
              more than one (1) year from the date of exercise.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbba463f4b5dd4cf7ae95a1494ddd4798">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 35.3pt; vertical-align: top; align: right; font-weight: bold;">12.5</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>This Agreement will be governed by and construed in accordance with the laws of the State of Illinois.</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">12.6</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>The granting of this Option does not confer upon the Participant any right to be retained in the service of the Company or any of its subsidiaries.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbe3b48aa2148428abe1d505e6d999d14">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">12.7</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>This Option is subject to forfeiture in accordance with the provisions of Section 7.16 of the Plan or as otherwise adopted by the Company.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcdec42b4a86f4e28ac88658e740554e2">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">12.8</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>This Option is subject to all laws, regulations and orders of any governmental authority which may be applicable thereto and, notwithstanding any of the provisions hereof, the Company will not be obligated to issue any shares of stock
              hereunder if the issuance of such shares would constitute a violation of any such law, regulation or order or any provision thereof.</div>
          </td>
        </tr>

    </table>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">[Signature Page to Follow]</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">IN WITNESS WHEREOF, the Company has caused this Agreement to be executed in its name and on its behalf as of the date of grant of this Option set forth above.</div>
    <div style="margin-left: 252pt; margin-bottom: 24pt; font-variant: small-caps; font-weight: bold;">IF Bancorp, Inc.</div>
    <div style="margin: 0px 0px 0px; text-align: justify; text-indent: 254.85pt;">By:<font style="display: inline-block; text-indent: 0px; width: 216pt;" id="TRGRRTFtoHTMLTab">________________________ </font></div>
    <div style="text-align: justify; text-indent: 254.85pt; margin-bottom: 12pt;">Title:<font style="display: inline-block; text-indent: 0px; width: 12pt;" id="TRGRRTFtoHTMLTab"> _______________________</font></div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">PARTICIPANT&#8217;S ACCEPTANCE</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The undersigned hereby accepts the foregoing Option and agrees to the terms and conditions hereof, including the terms and provisions of the IF Bancorp, Inc. 2022 Equity
      Incentive Plan.&#160; The undersigned hereby acknowledges receipt of a copy of the IF Bancorp, Inc. 2022 Equity Incentive Plan and related prospectus.</div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt; font-weight: bold;">PARTICIPANT</div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt; font-weight: bold;">___________________________<br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt;"><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 214.05pt" id="TRGRRTFtoHTMLTab">&#160;</font><br>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; margin-top: 12pt; font-weight: bold;">EXHIBIT A</div>
    <div style="text-align: center; font-weight: bold;">NOTICE OF EXERCISE OF OPTION</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">I hereby exercise the stock option (the &#8220;Option&#8221;) granted to me by IF Bancorp, Inc. (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;), subject to the terms and provisions set forth in the
      Incentive Stock Option Agreement (the &#8220;<font style="font-weight: bold;">Agreement</font>&#8221;) and the IF Bancorp, Inc. 2022 Equity Incentive Plan (the &#8220;<font style="font-weight: bold;">Plan</font>&#8221;), and notify you of my desire to purchase
      _______________ shares of common stock of the Company (&#8220;<font style="font-weight: bold;">Common Stock</font>&#8221;) for a purchase price of $______ per share.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">I elect to pay the exercise price by:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z10352183e860459eac990c7751bf2d40">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">___</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Cash or personal, certified or cashier&#8217;s check in the sum of $_______, in full/partial payment of the purchase price.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z6ed94725e777436eb16cfc44ed520b3a">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">___</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Stock of the Company with a fair market value of $______ in full/partial payment of the purchase price.*</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2823803d0e7648278285df273d2f2469">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">___</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>My check in the sum of $_______ <u>and</u> stock of the Company with a fair market value of $______, in full/partial payment of the purchase price.*</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z5c2515166e4749d0ba0c866c939caa89">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">___</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>A net settlement of the Option, using a portion of the shares obtained on exercise in payment of the exercise price of the Option (and, if applicable, any minimum required tax withholding).</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z893fcebe12924799a4b99d23c5f71303">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">___</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Selling&#160; ______ shares from my Option shares through a broker in full/partial payment of the purchase price.</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">I understand that after this exercise, ____________ shares of Common Stock remain subject to the Option, subject to all terms and provisions set forth in the Agreement and the
      Plan.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">I hereby represent that it is my intention to acquire these shares for the following purpose:</div>
    <div style="text-align: justify; text-indent: 36pt;">___<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font>investment</div>
    <div style="text-align: justify; text-indent: 36pt;">___<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font>resale or distribution</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Please note: if your intention is to resell (or distribute within the meaning of Section 2(11) of the Securities Act of 1933, as amended (the "<font style="font-weight: bold;">Securities
        Act</font>") the shares you acquire through this Option exercise, the Company or transfer agent may require an opinion of counsel that such resale or distribution would not violate the Securities Act prior to your exercise of such Option.</div>
    <div style="text-align: justify;">Date: _______________, 20___.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; _________________________________________</div>
    <div style="text-align: justify; text-indent: 216pt;">Participant&#8217;s signature</div>
    <div style="text-align: justify; margin-bottom: 12pt;">* If I elect to exercise by exchanging shares I already own, I will <u>constructively</u> return shares that I already own to purchase the new option shares.&#160; If my shares are in certificate form,
      I must attach a separate statement indicating the certificate number of the shares I am treating as having exchanged.&#160; If the shares are held in &#8220;street name&#8221; by a registered broker, I must provide the Company with a notarized statement attesting to
      the number of shares owned that will be treated as having been exchanged.&#160; I will keep the shares that I already own and treat them as if they are shares acquired by the option exercise.&#160; In addition, I will receive additional shares equal to the
      difference between the shares I constructively exchange and the total new option shares that I acquire.</div>
  </div>
  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
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<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>ex104-s8_113022.htm
<DESCRIPTION>FORM OF NON-QUALIFIED STOCK OPTION AWARD AGREEMENT
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Luse Gorman
         Document created using EDGARfilings PROfile 8.3.1.0
         Copyright 1995 - 2022 Broadridge -->
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.4</font><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div>
    <div style="text-align: center; font-weight: bold;">FORM OF</div>
    <div style="text-align: center; font-weight: bold;">NON-QUALIFIED STOCK OPTION AWARD AGREEMENT</div>
    <div><br>
    </div>
    <div style="text-align: center;">Granted by</div>
    <div><br>
    </div>
    <div style="text-align: center; font-variant: small-caps; font-weight: bold;">IF Bancorp, Inc.</div>
    <div><br>
    </div>
    <div style="text-align: center;">under the</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">IF Bancorp, Inc.</div>
    <div style="text-align: center; font-weight: bold;">2022 EQUITY INCENTIVE PLAN</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">This<font style="font-size: 12pt;">&#160;</font>Non-Qualified Stock Option Agreement (&#8220;<font style="font-weight: bold;">Option</font>&#8221; or &#8220;<font style="font-weight: bold;">Agreement</font>&#8221;) is and will
      be subject in every respect to the provisions of the IF Bancorp, Inc. 2022 Equity Incentive Plan (the &#8220;<font style="font-weight: bold;">Plan</font>&#8221;) of IF Bancorp, Inc. (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;), which are incorporated
      herein by reference and made a part hereof, subject to the provisions of this Agreement.&#160; A copy of the Plan and related prospectus have been provided to each person granted a stock option pursuant to the Plan.&#160; The holder of this Option (the &#8220;<font style="font-weight: bold;">Participant</font>&#8221;) hereby accepts this Option, subject to all the terms and provisions of the Plan and this Agreement, and agrees that all decisions under and interpretations of the Plan and this Agreement by the
      Compensation Committee of the Board of Directors of the Company (the &#8220;<font style="font-weight: bold;">Committee</font>&#8221;) or by the Board of Directors, will be final, binding and conclusive upon the Participant and the Participant&#8217;s heirs, legal
      representatives, successors and permitted assigns.&#160; Except where the context otherwise requires, the term &#8220;Company&#8221; includes the parent and all present and future subsidiaries of the Company as defined in Section 424(e) and 424(f) of the Internal
      Revenue Code of 1986, as amended from time to time (the &#8220;<font style="font-weight: bold;">Code</font>&#8221;).&#160; Capitalized terms used herein but not defined will have the same meaning as in the Plan.</div>
    <div><br>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 34.2pt; vertical-align: top; align: right; font-weight: bold;">1.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div><font style="font-weight: bold;">Name of Participant</font>:__________________________</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 34.2pt; vertical-align: top; align: right; font-weight: bold;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div><font style="font-weight: bold;"><font style="font-weight: bold;">Date of Grant</font></font>:__________________________</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb3b88660cc794ef8b967bfbff630ec27">

          <tr>
            <td style="width: 37.05pt; vertical-align: top; align: right;">
              <div style="font-weight: bold;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">Total number of shares of Company common stock, $0.01 par value per share, that may be acquired pursuant to this Option</font>:
                (subject to adjustment pursuant to Section 9 hereof).</div>
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;"> <br>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7a40c35694554c7295cb6a441200405c">

          <tr>
            <td style="width: 90pt; vertical-align: top; align: right;">
              <div style="margin-left: 72pt;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>This is a Non-Qualified Stock Option.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 34.2pt; vertical-align: top; align: right; font-weight: bold;">4.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div><font style="font-weight: bold;"><font style="font-weight: bold;"><font style="font-weight: bold;"><font style="font-weight: bold;">Exercise price per share: $</font></font></font></font>__________________________</div>
              <div>(subject to adjustment pursuant to Section 9 below) </div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 34.2pt; vertical-align: top; align: right; font-weight: bold;">5.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div><font style="font-weight: bold;">Expiration Date of Option:</font>__________________. Notwithstanding anything in this Agreement to the contrary, no part of this Option may be exercised at any time on or after the expiration date.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8e085b3eb2b74a92ac6b963ef94addcf">

        <tr>
          <td style="width: 34.2pt; vertical-align: top; align: right; font-weight: bold;">6.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Vesting Schedule</font>.&#160; Except as otherwise provided in this Agreement, this Option first becomes exercisable, subject to the Option&#8217;s expiration date, in accordance with the vesting schedule specified
              herein.</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-left: 36.7pt;"> <br>
    </div>
    <div style="text-align: justify; margin-left: 36.7pt;">The Options granted under this Agreement shall vest in _______ (__) equal annual installments (provided that fractional Options will not vest), with the first installment becoming exercisable on
      the first anniversary of the date of grant, or <u>&#160; &#160; &#160;&#160; </u>, 20<u>&#160;&#160; </u>, and succeeding installments on each anniversary thereafter, through <u>&#160; &#160; &#160; &#160; &#160;&#160; </u>, 20<u>&#160; &#160;&#160; </u>, subject to accelerated vesting under Section 10 of this
      Agreement.&#160; Notwithstanding the foregoing, to the extent the vesting would vest in a fractional Option, the number of Options vesting should be rounded to the nearest Option&#160; (with &#8220;.5&#8221; of an Option rounded up). This Option may not be exercised at
      any time on or after the Option&#8217;s expiration date.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <!--PROfilePageNumberReset%Num%2%%%-->
    <div style="text-align: justify; margin-left: 37.05pt;">As set forth in Section 10 of this Agreement, vesting will automatically accelerate pursuant to Sections 2.7 and 4.1 of the Plan in the event of death, Disability or Involuntary Termination of
      Service at or following a Change in Control.</div>
    <div style="text-align: justify; margin-left: 37.05pt;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2c03969653294bf79b2996266f71ea66">

        <tr>
          <td style="width: 34.2pt; vertical-align: top; align: right; font-weight: bold;">7.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Exercise Procedure and Delivery of Notice of Exercise of Option</font>.&#160; This Option may be exercised in whole or in part by the Participant&#8217;s delivery to the Company of written notice (the &#8220;<font style="font-weight: bold;">Notice of Exercise of Option</font>&#8221; attached hereto as <u>Exhibit A</u> or as otherwise acceptable to the Company) setting forth the number of shares with respect to which this Option is to be exercised,
              together with payment by cash or other means acceptable to the Committee, in accordance with the Plan.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6fcb8991b6ad4cda8b12d67d2d8470e6">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">8.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Delivery of Shares.&#160; </font>Delivery of shares of Stock upon the exercise of this Option will comply with all applicable laws (including the requirements of the Securities Act of 1933, as amended) and the
              applicable requirements of any securities exchange or similar entity.</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify;"><br>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">9.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div><font style="font-weight: bold;"><font style="font-weight: bold;">Adjustment Provisions.</font>&#160;&#160;</font>
                <div><br>
                </div>
                <div>This Option, including the number of shares subject to the Option and the exercise price, will be adjusted upon the occurrence of the events specified in, and in accordance with the provisions of, Section 3.4 of th</div>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <br>
    <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z6fcb8991b6ad4cda8b12d67d2d8470e6">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">10.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-weight: bold;">Accelerated Vesting and Exercisability Period</font>.</div>
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><br>
            </div>
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The vesting of this Option will accelerate as set forth in the following&#160; provisions under the Plan:</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-left: 36pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zeb296215cdf94d23ab5170487588a476">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">10.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Death.&#160; </font>In the event of the Participant&#8217;s Termination of Service by reason of death, any unvested portion of this Option will vest and any unexercised portion of the Option may thereafter be
              exercised by the Participant&#8217;s legal representative or beneficiaries for a period of one (1) year from the Participant&#8217;s date of death.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zabb4ced909ea47699a4d243a51bd5ae5">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">10.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Disability</font>.&#160; In the event of the Participant&#8217;s Termination of Service by reason of the Participant&#8217;s Disability, any unvested portion of this Option will vest and any unexercised portion of the
              Option may thereafter be exercised by the Participant or the Participant&#8217;s legal representative for a period of one (1) year following the Termination of Service due to Disability.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8f0fae0566c7457c8a96336fda985e0e">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">10.3</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Change in Control.</font>&#160; In the event of the Participant&#8217;s Involuntary Termination of Service at or following a Change in Control, any unvested portion of the Option will vest and any unexercised portion
              of the Option may be exercised by the Participant or the Participant&#8217;s legal representative for a period of one (1) year following the Participant&#8217;s Involuntary Termination of Service.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb256ce0d3d7242ad85d342a2fb751eb5">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">10.4</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Retirement</font>.&#160; In the event of the Participant&#8217;s Termination of Service by reason of the Participant&#8217;s Retirement, vested Options may be exercised for a period of one (1) year from the date of
              Termination of Service. Options that have not vested will expire and be forfeited on the date of Termination of Service by reason of Retirement.&#160; &#8220;Retirement&#8221; has the meaning set forth in Article 8 of the Plan.<br>
              <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z922338fc6aef473abaf6997617a33f43">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">10.5</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div><font style="font-weight: bold;">Termination for Cause</font><font style="font-style: italic;">.</font>&#160; In the event of the Participant&#8217;s Termination of Service for Cause, all Options subject to this Agreement that have not been exercised
              will immediately expire and be forfeited.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb0d699210f7d4637ba246a28023c1ff9">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">10.6</td>
          <td style="width: auto; vertical-align: top;">
            <div><font style="font-weight: bold;">Other Termination</font><font style="font-style: italic;">.</font>&#160; In the event of the Participant&#8217;s Termination from Service for any reason other than due to death, Disability, Retirement, Involuntary
              Termination at or following a Change in Control, or for Cause, this Option may thereafter be exercised, only to the extent it was exercisable at the time of the termination and only for a period of three (3) months following the termination.</div>
          </td>
        </tr>

    </table>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; text-indent: -0.9pt; margin-left: 68.4pt;"><br>
    </div>
    <div style="text-align: justify; text-indent: -0.9pt; margin-left: 68.4pt;"> <br>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold;">11.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">Miscellaneous.</font></div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0f9e7fa782c84ec4b542de16492d793d">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">11.1</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>No Option will confer upon the Participant any rights as a stockholder of the Company prior to the date on which the individual fulfills all conditions for receipt of such rights.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z71e1a6395cde41899f38497188e93946">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 32.4pt; vertical-align: top; align: right; font-weight: bold;">11.2</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Except as otherwise provided for in the Plan, this Agreement may not be amended or otherwise modified unless evidenced in writing and signed by the Company and the Participant.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4859822e567647d486669d51dec856ff">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 35.3pt; vertical-align: top; align: right; font-weight: bold;">11.3</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>At the discretion of the Committee, a Non-Qualified Option granted under the Plan may be transferable by the Participant, provided, however, that transfers will be limited to Immediate Family Members of Participants, trusts and
              partnerships established for the primary benefit of such family members or to charitable organizations, and provided, further, that the transfers are not made for consideration to the Participant.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc89e7c3ae18042778fc4e94221100a16">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">11.4</td>
          <td style="width: auto; vertical-align: top;">
            <div>This Option will be subject to any required federal, state and local tax withholding, which may be effected in the manner or manners permitted by the Company.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6d458a790cb24477abd29d131c88d3c9">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 35.3pt; vertical-align: top; align: right; font-weight: bold;">11.5</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>This Agreement will be governed by and construed in accordance with the laws of the State of Illinois.</div>
            <div> <br>
            </div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zabbd26364c1c4f398afce294bd2b3a63">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">11.6</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>The granting of this Option does not confer upon the Participant any right to be retained in the service of the Company or any of its subsidiaries.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zadc9008daff841509c8ef5a8f5e407b9">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">11.7</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>This Option is subject to forfeiture in accordance with the provisions of Section 7.16 of the Plan or as otherwise adopted by the Company.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3cb3bdb5a2b949b09524632705e6d6fa">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;">11.8</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>This Option is subject to all laws, regulations and orders of any governmental authority which may be applicable thereto and, notwithstanding any of the provisions hereof, the Company will not be obligated to issue any shares of stock
              hereunder if the issuance of such shares would constitute a violation of any such law, regulation or order or any provision thereof.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">[Signature Page to Follow]</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">IN WITNESS WHEREOF, the Company has caused this Agreement to be executed in its name and on its behalf as of the date of grant of this Option set forth above.</div>
    <div style="margin-left: 252pt; margin-bottom: 24pt; font-variant: small-caps; font-weight: bold;">IF Bancorp, Inc.</div>
    <div style="margin: 0px 0px 0px; text-align: justify; text-indent: 254.85pt;">By:<font style="display: inline-block; text-indent: 0px; width: 216pt;" id="TRGRRTFtoHTMLTab">_________________________________ </font></div>
    <div style="text-align: justify; text-indent: 254.85pt; margin-bottom: 12pt;">Title:<font style="display: inline-block; text-indent: 0px; width: 12pt;" id="TRGRRTFtoHTMLTab"> ________________________________</font></div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">PARTICIPANT&#8217;S ACCEPTANCE</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">The undersigned hereby accepts the foregoing Option and agrees to the terms and conditions hereof, including the terms and provisions of the IF Bancorp, Inc. 2022 Equity
      Incentive Plan.&#160; The undersigned hereby acknowledges receipt of a copy of the IF Bancorp, Inc. 2022 Equity Incentive Plan and related prospectus.</div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt; font-weight: bold;">PARTICIPANT</div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt; font-weight: bold;">_____________________________________<br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 0.3pt; margin-left: 253.65pt;"><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 214.05pt" id="TRGRRTFtoHTMLTab">&#160;</font><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
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        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; margin-top: 12pt; font-weight: bold;">EXHIBIT A</div>
    <div style="text-align: center; font-weight: bold;">NOTICE OF EXERCISE OF OPTION</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">I hereby exercise the stock option (the &#8220;<font style="font-weight: bold;">Option</font>&#8221;) granted to me by IF Bancorp, Inc. (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;) or its affiliate,
      subject to all the terms and provisions set forth in the Non-Qualified Stock Option Agreement (the &#8220;<font style="font-weight: bold;">Agreement</font>&#8221;) and the IF Bancorp, Inc. 2022 Equity Incentive Plan (the &#8220;<font style="font-weight: bold;">Plan</font>&#8221;)
      referred to therein, and notify you of my desire to purchase __________________ shares of common stock of the Company (&#8220;<font style="font-weight: bold;">Common Stock</font>&#8221;) for a purchase price of $______ per share.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">I elect to pay the exercise price by:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="zb9be49e338d7436f822e5a3c732565a1">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">___</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Cash or personal, certified or cashier&#8217;s check in the sum of $_______, in full/partial payment of the purchase price.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z72c69997170d426fb6170ebc3b4a8366">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">___</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Stock of the Company with a fair market value of $______ in full/partial payment of the purchase price.*</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8a232cfc6874473cb99eef9595a60d76">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">___</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>My check in the sum of $_______ <u>and</u> stock of the Company with a fair market value of $______, in full/partial payment of the purchase price.*</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z0a8943037ae34fbb8d9cbadacb2b2f86">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">___</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>A net settlement of the Option, using a portion of the shares obtained on exercise in payment of the exercise price of the Option (and, if applicable, any minimum required tax withholding).</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z434dc8f603784f4a95f6b6e4752cdd71">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">___</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Selling&#160; ______ shares from my Option shares through a broker in full/partial payment of the purchase price.</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">I understand that after this exercise, ____________ shares of Common Stock remain subject to the Option, subject to all terms and provisions set forth in the Agreement and the
      Plan.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">I hereby represent that it is my intention to acquire these shares for the following purpose:</div>
    <div style="text-align: justify; text-indent: 36pt;">___<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font>investment</div>
    <div style="text-align: justify; text-indent: 36pt;">___<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font>resale or distribution</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">Please note: if your intention is to resell (or distribute within the meaning of Section 2(11) of the Securities Act of 1933, as amended (the "<font style="font-weight: bold;">Securities
        Act</font>") the shares you acquire through this Option exercise, the Company or transfer agent may require an opinion of counsel that such resale or distribution would not violate the Securities Act of 1933 prior to your exercise of such Option.</div>
    <div style="text-align: justify;">Date: _______________, 20___.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; _________________________________________</div>
    <div style="text-align: justify; text-indent: 216pt;">Participant&#8217;s signature</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-bottom: 12pt;">*<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font>If I elect to exercise by exchanging shares I already own, I
      will <u>constructively</u> return shares that I already own to purchase the new option shares.&#160; If my shares are in certificate form, I must attach a separate statement indicating the certificate number of the shares I am treating as having
      exchanged.&#160; If the shares are held in &#8220;street name&#8221; by a registered broker, I must provide the Company with a notarized statement attesting to the number of shares owned that will be treated as having been exchanged.&#160; I will keep the shares that I
      already own and treat them as if they are shares acquired by the option exercise.&#160; In addition, I will receive additional shares equal to the difference between the shares I constructively exchange and the total new option shares that I acquire.</div>
  </div>
  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>6
<FILENAME>ex232-s8_113022.htm
<DESCRIPTION>CONSENT OF FORVIS, LLP (INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM)
<TEXT>
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  <head>
    <title></title>
    <!-- Licensed to: Luse Gorman
         Document created using EDGARfilings PROfile 8.3.1.0
         Copyright 1995 - 2022 Broadridge -->
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 23.2</font><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div>
    <div><br>
    </div>
    <div>
      <div><br>
      </div>
      <div style="text-align: center; margin-top: 12pt; font-weight: bold;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>
      <div style="margin-top: 12pt;"><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify;">We consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated September 15, 2022, on our audits of the consolidated financial statements of IF Bancorp, Inc. as of
        June&#160;30, 2022, and 2021, and for the years then ended, which is included in the Annual Report on Form 10-K.</div>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>/s/ FORVIS, LLP (formerly BKD, LLP)</div>
    <div>Decatur, Illinois</div>
    <div>November 30, 2022</div>
  </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>7
<FILENAME>ex107-s8_113022.htm
<DESCRIPTION>FILING FEES TABLE
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Luse Gorman
         Document created using EDGARfilings PROfile 8.3.1.0
         Copyright 1995 - 2022 Broadridge -->
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  <div>
    <div style="text-align: right; font-weight: bold;">Exhibit 107</div>
    <div>
      <div><br>
      </div>
      <div style="text-align: center; margin-top: 12pt; font-weight: bold;">Calculation of Filing Fee Tables</div>
      <div style="text-align: center; margin-top: 12pt; font-weight: bold;">Form S-8</div>
    </div>
    <div>
      <div style="text-align: center;">(Form Type)</div>
    </div>
    <div>
      <div><br>
      </div>
      <div style="text-align: center; margin-top: 12pt; font-weight: bold;">IF Bancorp, Inc.</div>
    </div>
    <div>
      <div style="text-align: center;">(Exact Name of Registrant as Specified in its Charter)</div>
    </div>
    <div>
      <div><br>
      </div>
      <div style="text-align: center; margin-top: 12pt;"><u>Table 1: Newly Registered Securities</u></div>
    </div>
    <div>
      <div><br>
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z97478dd1dac147f2bc1a4f3b108046cc">

        <tr>
          <td style="width: 11.69%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Security Type</div>
          </td>
          <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Security Class Title</div>
          </td>
          <td style="width: 11.2%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Fee Calculation Rule</div>
          </td>
          <td style="width: 12.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Amount to be Registered<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
          </td>
          <td style="width: 10.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Proposed Maximum Aggregate Offering Price Per Share<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
          </td>
          <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Maximum Aggregate Offering Price</div>
          </td>
          <td style="width: 11.06%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Fee Rate</div>
          </td>
          <td style="width: 15.38%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="text-align: center;">Amount of Registration Fee</div>
          </td>
        </tr>
        <tr>
          <td style="width: 11.69%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Equity</div>
          </td>
          <td style="width: 12.22%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Common stock, $0.01 par value per share</div>
          </td>
          <td style="width: 11.2%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">457(c) and 457(h)</div>
          </td>
          <td style="width: 12.24%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">264,850</div>
          </td>
          <td style="width: 10.76%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">$18.59</div>
          </td>
          <td style="width: 15.46%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">$4,923,561.50</div>
          </td>
          <td style="width: 11.06%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">0.00011020</div>
          </td>
          <td style="width: 15.38%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">$542.58</div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="width: 47.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Total Offering Amounts</div>
          </td>
          <td style="width: 10.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 15.46%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">$4,923,561.50</div>
          </td>
          <td style="width: 11.06%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 15.38%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">$542.58</div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="width: 47.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Total Fee Offsets</div>
          </td>
          <td style="width: 10.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 15.46%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 11.06%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 15.38%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">$0.00</div>
          </td>
        </tr>
        <tr>
          <td colspan="4" style="width: 47.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Net Fee Due</div>
          </td>
          <td style="width: 10.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 15.46%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 11.06%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 15.38%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">$542.58</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; margin-bottom: 3pt;">___________________________________________</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze98cba1268194cfea2952c62ebcd58ef">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div>(1)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Together with an indeterminate number of additional shares that may be necessary to adjust the number of shares reserved for issuance pursuant to the IF Bancorp, Inc. 2022 Equity Incentive Plan as a result of
                a stock split, stock dividend or similar adjustment of the outstanding common stock of IF Bancorp, Inc. (the &#8220;Company&#8221;) pursuant to 17 C.F.R. Section&#160;230.416(a).</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z229afeef0ac348e19e2a31de51eea8d2">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div>(2)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Estimated solely for the purpose of calculating the registration fee in accordance with Rules 457(c) and (h) under the Securities Act, based on the average of the high and low prices of the Company&#8217;s common
                stock as reported on the Nasdaq Stock Market on November 28, 2022.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <div><br>
      </div>
      <div style="margin-top: 12pt;"><br>
      </div>
      <div style="margin-top: 12pt;"><br>
      </div>
    </div>
    <div style="text-align: center;"><u>Table 2: Fee Offset Claims and Sources</u></div>
    <div style="text-align: center;">N/A</div>
    <div><br>
    </div>
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</SEC-DOCUMENT>
