<SEC-DOCUMENT>0001140361-21-010368.txt : 20210329
<SEC-HEADER>0001140361-21-010368.hdr.sgml : 20210329
<ACCEPTANCE-DATETIME>20210329060140
ACCESSION NUMBER:		0001140361-21-010368
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210324
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210329
DATE AS OF CHANGE:		20210329

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BROADWAY FINANCIAL CORP \DE\
		CENTRAL INDEX KEY:			0001001171
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				954547287
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39043
		FILM NUMBER:		21779333

	BUSINESS ADDRESS:	
		STREET 1:		5055 WILSHIRE BLVD STE 500
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90036
		BUSINESS PHONE:		3236341700

	MAIL ADDRESS:	
		STREET 1:		5055 WILSHIRE BLVD STE 500
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90036
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>brhc10022424_8k.htm
<DESCRIPTION>8-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Solutions, Inc
         Document created using EDGARfilings PROfile 7.4.0.0
         Copyright 1995 - 2021 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div style="text-align: center; font-weight: bold;">
      <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;"></div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANAGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">WASHINGTON, DC 20549</div>
    <div>&#160;</div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 8-K</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">CURRENT REPORT</div>
    <div style="text-align: center; font-weight: bold;">Pursuant to section 13 or 15(d)</div>
    <div style="text-align: center; font-weight: bold;">of the Securities Exchange Act of 1934</div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-weight: bold;">Date of report (Date of earliest event reported):&#160; March 24, 2021</div>
    <div>&#160;</div>
    <div style="text-align: center; font-size: 24pt; font-weight: bold;">BROADWAY FINANCIAL CORPORATION</div>
    <div style="text-align: center; font-weight: bold;">(Exact name of registrant as specified in its charter)</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z29afd78baed64dd1830d3be0aff7a615" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 33.33%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">Delaware</div>
          </td>
          <td style="width: 34%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">001-39043</div>
          </td>
          <td style="width: 33.34%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">95-4547287</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.33%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">(State or other jurisdiction of incorporation or organization</div>
          </td>
          <td style="width: 34%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">(Commission File No.)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">(IRS Employer Identification No.</div>
          </td>
        </tr>

    </table>
    <div style="text-align: center;"> <br>
    </div>
    <div style="text-align: center;">5<font style="font-weight: bold;">055 Wilshire Boulevard Suite 500, Los Angeles, California 90036</font></div>
    <div style="text-align: center; font-weight: bold;">(Address of principal executive offices, including zip code)</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">(323) 634-1700</div>
    <div style="text-align: center; font-weight: bold;">(Registrant&#8217;s telephone number, including area code)</div>
    <div>&#160;</div>
    <div style="text-align: justify;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<br>
      <br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zdf69414f540f4fa1b3579f0c531ff931" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">&#9744;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="z1ec704ad50df4a4a8bb941f32262689f" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">&#9744;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="zb5099d29e42940d797ced6b085f64563" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">&#9744;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Pre-commencement communications pursuant to Rule l4d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="zab15ecec3a81439b98bb86e938994acc" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">&#9744;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 140.13e-4(c))</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify;">Securities registered pursuant to Section 12(b) of the Act:</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="zf0b1c6bccc9b426dbc86163ac210c2af" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Title of each class</div>
          </td>
          <td style="width: 1%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td style="width: 32%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Trading Symbol(s)</div>
          </td>
          <td style="width: 1%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td style="width: 33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Name of each exchange on which registered</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33%; vertical-align: top;">
            <div style="text-align: center;">Common Stock, par value $0.01 </div>
            <div style="text-align: center;">per share (including attached </div>
            <div style="text-align: center;">preferred stock purchase rights)</div>
          </td>
          <td style="width: 1%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center;">BYFC</div>
          </td>
          <td style="width: 1%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 33%; vertical-align: top;">
            <div style="text-align: center;">The Nasdaq Stock Market LLC</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).</div>
    <div style="text-align: justify;"> <br>
    </div>
    <div style="text-align: justify;">Emerging growth company &#9744;</div>
    <div>&#160;</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 I 3(a) of the Exchange Act. &#9744;</div>
    <div>&#160;</div>
    <div>
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"> </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <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>
    <table cellspacing="0" cellpadding="0" id="z6688b6f02a6a49188d738e632ab77dac" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 54pt; vertical-align: top; font-weight: bold;">Item 5.02</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-indent: 36pt;">Broadway Financial Corporation (the &#8220;Broadway&#8221;) entered into a Settlement and Release Agreement as of March 24, 2021 with Robert C. Davidson, a director of the Broadway, in connection with the prospective termination of
      Broadway&#8217;s Director Emeritus Policy.&#160; Pursuant to the agreement, Broadway agreed to pay $120,000 to Mr. Davidson and Mr. Davidson waived and released any claim he might have relating to or arising out of the Director Emeritus Policy.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z6cddba5a994743138707566b372e33d4" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 54pt; vertical-align: top; font-weight: bold;">Item 9.01</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Financial Statements and Exhibits</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;" id="z4a9c7424b957494bad455d6cbec3d7f6" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="vertical-align: top; width: 36pt;">
              <div style="text-align: justify;">(d)</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify;">Exhibits. The following exhibits are filed with this report on Form 8-K:</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z1ca2ee72a43843ccad04253ad64a0d48" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Exhibit</div>
            <div>No.</div>
          </td>
          <td style="width: 2%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Description</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div><a href="brhc10022424_ex10-1.htm">10.1</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 88%; vertical-align: top;">
            <div>Settlement and Release Agreement, dated as of March 24, 2021</div>
          </td>
        </tr>

    </table>
    <div><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="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: center;">SIGNATURES</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z741d6f3f4979439189b2733df71dc351" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-weight: bold;">BROADWAY FINANCIAL CORPORATION</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; border-bottom: 2px solid black;">
            <div>/s/ Brenda J. Battey</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div>Date:&#160; March 29, 2021</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div>Brenda J. Battey</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div>Chief Financial Officer</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>brhc10022424_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Solutions, Inc
         Document created using EDGARfilings PROfile 7.4.0.0
         Copyright 1995 - 2021 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <font style="color: rgb(0, 0, 0);"> </font>
  <div>
    <div style="text-align: right;">
      <hr noshade="noshade" style="height: 4px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); margin-left: auto; margin-right: auto; border: medium none;">
      <div><font style="font-weight: bold; color: rgb(0, 0, 0);">Exhibit 10.1</font><font style="color: rgb(0, 0, 0);"><br>
        </font></div>
    </div>
    <div style="color: rgb(0, 0, 0);"><font style="font-size: 5pt;">&#160; </font>
      <table cellspacing="0" cellpadding="0" border="0" id="zb6c4fe84af9b46fba58f9226bf2d7ffd" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td colspan="1" style="width: 50.00%;">
              <div>&#160;</div>
              <div>&#160;</div>
              <div>&#160;</div>
              <div>&#160;</div>
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 50.00%;">
              <div style="text-align: right;">&#160;<img width="254" border="0" height="84" src="image01.jpg"></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="color: rgb(0, 0, 0); font-size: 5pt;">&#160;<br>
    </div>
    <div style="text-align: center; color: rgb(0, 0, 0);"><u>SETTLEMENT AND RELEASE AGREEMENT</u></div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">This Settlement and Release Agreement </font><font style="color: rgb(0, 0, 0);">("<u>Agreement</u>")</font><font style="color: rgb(0, 0, 0);"> is entered into as of March 24, 2021 by
        and between Robert C. Davidson </font><font style="color: rgb(0, 0, 0);">("<u>Davidson</u>")</font><font style="color: rgb(0, 0, 0);">, </font><font style="color: rgb(0, 0, 0);">on the one hand, and Broadway Financial Corporation, a Delaware
        corporation</font><font style="color: rgb(0, 0, 0);">, </font><font style="color: rgb(0, 0, 0);">and its wholly-owned subsidiary, Broadway Federal Bank, f.s.b. (Broadway Financial Corporation and Broadway Federal Bank, f</font><font style="color: rgb(0, 0, 0);">.</font><font style="color: rgb(0, 0, 0);">s.b., being collectively referred to herein as </font><font style="color: rgb(0, 0, 0);">"<u>Broadway</u>")<u>,</u></font><font style="color: rgb(0, 0, 0);"> on the other hand, on the basis
        of the following facts:</font></div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">A.</font><font style="color: rgb(0, 0, 0);">&#160; Broadway has maintained a director emeritus policy for many years, the most recent statement of the terms of which is set forth in the
        Director Emeritus Policy (the "<u>Emeritus&#160;Policy</u>") that was approved by the boards of directors of Broadway (collectively, the "<u>Board</u>") on April 29, 2020 and which is applicable only to those persons who were directors of Broadway of
        record as of or prior to January 1, 2019 and who are appointed as Directors Emeritus by the Board based on the length and quality of their service on the Board as provided in the Emeritus Policy.</font></div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">B.</font><font style="color: rgb(0, 0, 0);">&#160; Broadway Financial Corporation has entered into an Agreement and Plan of Merger with CFBanc Corporation ("<u>CFBanc</u>"), dated as of
        August 25, 2020, pursuant to which CFBanc will be merged with and into Broadway Financial Corporation (the "<u>Merger</u>"), with five directors from CFBanc and four directors from Broadway to serve on the board of directors of Broadway Financial
        Corporation in its capacity as the Surviving Entity in such merger with CFBanc. Capitalized terms defined in the Agreement and Plan of Merger are used in this Agreement as so defined.</font></div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">C.</font><font style="color: rgb(0, 0, 0);">&#160; CFBanc does not have a policy similar to the Emeritus Policy and has firmly indicated that it does not desire to establish such a policy,
        and has further indicated its strong desire that all directors of the Surviving Corporation have equal rights of compensation relating to their service as directors.</font></div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">D.</font><font style="color: rgb(0, 0, 0);">&#160; The Board has determined that it is in the best interests of Broadway and their stockholders that the Emeritus Policy be terminated in
        connection with the completion of the Merger so as to remove any potential division or disagreement that might arise among the directors of the Surviving Entity if the Emeritus Program were continued solely with respect to the pre-merger directors
        of the Corporation.</font></div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">E.</font><font style="color: rgb(0, 0, 0);">&#160; Davidson has been asked, and has agreed, to continue his service as a director of the Surviving Entity and its subsidiary bank following
        the completion of the Merger rather than retire from the Board at the Effective Time of the Merger and become eligible at that time to be for considered for appointment by the Board to the status of Director Emeritus pursuant to the Emeritus
        Policy. Having so agreed, Davidson acknowledges that he will not be eligible for designation as a Director Emeritus pursuant to the Emeritus Policy at any time hereafter, regardless of the length of his service as a director of the Surviving Entity
        and its subsidiary bank.</font></div>
    <div style="color: rgb(0, 0, 0);">&#160;
      <div style="text-align: center;"><font style="color: rgb(0, 0, 0);">5055 WILSHIRE BOULEVARD, SUITE 500 </font>&#8226;<font style="color: rgb(0, 0, 0);"> LOS ANGELES, CALIFORNIA 90036-6 103</font></div>
      <div style="text-align: center;"><font style="color: rgb(0, 0, 0);">323</font><font style="color: rgb(0, 0, 0);">.</font><font style="color: rgb(0, 0, 0);">634</font><font style="color: rgb(0, 0, 0);">.</font><font style="color: rgb(0, 0, 0);">1700 </font><font style="color: rgb(0, 0, 0);">&#8226; 323.634.1717 Fax &#8226; www.broadwayfederalbank.com</font></div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter"></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 id="DSPFPageHeader"></div>
    </div>
    <!--PROfilePageNumberReset%Num%2%%%-->
    <div style="color: #000000; text-indent: 36pt;">NOW, THEREFORE, the parties hereto, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, agree as follows:</div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="color: rgb(49, 49, 49); text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">1.&#160; </font><font style="color: rgb(0, 0, 0);">Broadway has agreed to pay the sum of $120,000 to Davidson, receipt of which payment is hereby acknowledged and
        confirmed by Davidson, in consideration of the execution and delivery by Davidson of this Settlement and Release Agreement.</font></div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">2.</font><font style="color: rgb(0, 0, 0);">&#160; Davidson hereby waives, relinquishes and releases, and agrees not to maintain any legal or equitable action to obtain or otherwise pursue,
        any and all claims, whether now known to him or unknown, that he may have or may hereafter claim to have relating to or arising out of the Emeritus Policy, including, without limitation, any claim of entitlement to payments or other benefits
        arising out of or relating to the Emeritus Policy.</font></div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">3.</font><font style="color: rgb(0, 0, 0);">&#160; This Agreement sets forth the entire agreement and understanding of the parties hereto with respect to the termination of the Emeritus Plan
        and supersedes any prior or contemporaneous agreements or understandings relating to such subject matter.</font></div>
    <div style="color: rgb(0, 0, 0);">&#160;</div>
    <div style="text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">4.</font><font style="color: rgb(0, 0, 0);">&#160; This Agreement, and all claims or causes of action (whether in contract, in tort or pursuant to statute) that may be based upon, arise out
        of or relate to this Agreement, or the negotiation, execution or performance hereof shall be governed by and construed in accordance with the internal laws of the State of Delaware, without regard to the conflicts of laws principles thereof, except
        to the extent, if any, that such law is preempted by applicable federal laws of the United States.</font></div>
    <div style="color: rgb(0, 0, 0);"><br>
    </div>
    <div style="margin: 0px; color: #000000; text-indent: 36pt;">IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.</div>
    <div style="color: rgb(0, 0, 0);"><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="za1a5b17459d742d08bc2de91da4b564c">

        <tr>
          <td colspan="1" rowspan="1" style="width: 5%; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
          <td colspan="2" rowspan="1" style="vertical-align: top; color: rgb(0, 0, 0);">BROADWAY FINANCIAL CORPORATION</td>
          <td rowspan="1" style="width: 65%; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" rowspan="1" style="width: 5%; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
          <td colspan="2" rowspan="1" style="vertical-align: top; color: rgb(0, 0, 0);">&#160;&#160;</td>
          <td rowspan="1" style="width: 65%; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top; color: rgb(0, 0, 0); padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: bottom; color: rgb(0, 0, 0); padding-bottom: 2px;">
            <div style="font-weight: normal;">By:</div>
          </td>
          <td style="width: 25%; vertical-align: top; color: rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);"><font style="color: rgb(0, 0, 0);">/s/ Wayne-Kent A. Bradshaw </font></td>
          <td style="width: 65%; vertical-align: top; color: rgb(0, 0, 0); padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div><font style="color: rgb(0, 0, 0);">Name:&#160;</font><font style="color: rgb(0, 0, 0);"></font></div>
          </td>
          <td style="vertical-align: top;"><font style="color: rgb(0, 0, 0);">Wayne-Kent A. Bradshaw <br>
            </font></td>
          <td style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
          <td style="width: 5%; vertical-align: top; color: rgb(0, 0, 0);"><font style="color: rgb(0, 0, 0);">Title:&#160;</font></td>
          <td colspan="2" style="vertical-align: top; color: rgb(0, 0, 0);">Chief Executive Officer</td>
        </tr>
        <tr>
          <td colspan="1" rowspan="1" style="vertical-align: top; color: rgb(0, 0, 0); width: 5%;">&#160;</td>
          <td colspan="3" rowspan="1" style="vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; color: rgb(0, 0, 0); width: 5%;">&#160;</td>
          <td colspan="3" style="vertical-align: top; color: rgb(0, 0, 0);">
            <div>BROADWAY FEDERAL BANK, f.s.b.</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; color: rgb(0, 0, 0); width: 5%;">&#160;</td>
          <td colspan="3" style="vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top; color: rgb(0, 0, 0); padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; color: rgb(0, 0, 0); padding-bottom: 2px;">
            <div>By:</div>
          </td>
          <td style="width: 25%; vertical-align: top; color: rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">/s/ Robert C. Davidson</td>
          <td style="width: 65%; vertical-align: top; color: rgb(0, 0, 0); padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
          <td style="width: 5%; vertical-align: top; color: rgb(0, 0, 0);">
            <div>Name: <br>
            </div>
          </td>
          <td style="vertical-align: top; color: rgb(0, 0, 0);">Robert C. Davidson</td>
          <td style="vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="width: 5%; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
          <td style="width: 5%; vertical-align: top; color: rgb(0, 0, 0);">
            <div>Title: <br>
            </div>
          </td>
          <td colspan="2" style="vertical-align: top; color: rgb(0, 0, 0);">Board Member</td>
        </tr>

    </table>
    <div style="color: rgb(0, 0, 0);"><br>
    </div>
    <div style="color: rgb(0, 0, 0);"><br>
    </div>
    <div style="color: rgb(0, 0, 0); text-align: center; font-size: 8pt;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">2</font></div>
    <div style="color: rgb(0, 0, 0);">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  </div>
  <font style="color: rgb(0, 0, 0);"> </font>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image01.jpg
<TEXT>
begin 644 image01.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  8$!08%! 8&!08'!P8("A *"@D)
M"A0.#PP0%Q08&!<4%A8:'24?&ALC'!86("P@(R8G*2HI&1\M,"TH,"4H*2C_
MVP!# 0<'!PH("A,*"A,H&A8:*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H
M*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"C_P  1" !> 1L# 2(  A$! Q$!_\0
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M5@EV[NF2A4#WSG'XUZM\3L_\(1J.,=8\_P#?Q: /$-/MFO+Z"V3[TKA!^/\
M6O0/&O@:ST?PU]MLG8S0,OG%SPX8X^4=N2/P]37)^!XEE\7:4LF[ G5OE'<<
MC]0*]<^)O_(CZEG_ *9?^C4H \J^'EU):^+].\N4QI))Y;C. X((P?7D@CW
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M&W^:$_C7-:3?/INI6][&B2/ ^]5?."1TSBKOB;7[GQ%>17-Y%!')''Y8\I2
M1DGG)/K0!ZW\+;B6X\(P>=G$3M&A/=0?_KD?A7#?&0_\57!_UY1_^AR5T/P7
MF9M-U"'Y1''(K#!Y+$')_(*/PK!^,I_XJ6U&$Q]D7!_B^^_Z?_7H M?!=O\
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MQLJ@+QZ*!G SR<GD\T 6_ J[O%^E#<%_? Y(S7HOQDNEB\/VMMG]Y-<!@/\
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/WSX_ 5U5%% !1110!__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
