Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 2, 2010, Emclaire Financial Corp. (the "Corporation") announced the appointment of Matthew J. Lucco as Senior Vice President and Chief Financial Officer of the Corporation. There is no arrangement or understanding between Mr. Lucco and the Corporation and any person pursuant to which Mr. Lucco has been selected an officer.

Mr. Lucco, who is 30 years of age, has an extensive financial background and experience at the executive level, having served as the Chief Financial Officer for Salvage Direct, Inc. in Titusville, Pennsylvania since December 2008. Prior to his employment with Salvage Direct, Inc., Mr. Lucco served as Vice President of FNB Capital Corporation during 2005 to 2008, as Financial Analyst for FNB Corporation during 2004 to 2005 and as Commercial Banker for First National Bank of Slippery Rock during 2001 to 2004 prior to their acquisition by FNB Corporation.

Mr. Lucco has not engaged in any transaction exceeding $120,000 with the Corporation since January 1, 2009 and does not have a family relationship with any director or executive officer of the Corporation. In connection with his appointment, Mr. Lucco and the Corporation and its wholly owned subsidiary, The Farmers National Bank of Emlenton (the "Bank") entered into a change in control agreement (the "Agreement"). The Agreement has an initial term ending on August 2, 2012. Such term shall be automatically renewed for successive one-year periods each August 2 unless notice to the contrary is provided at least 30 days prior to the renewal. Subject to certain restrictions, the Agreement also provides that if Mr. Lucco is terminated by the Corporation or the Bank (or any successor) within 24 months subsequent to a change in control of the Corporation for other than cause, disability, retirement or Mr. Lucco's death or Mr. Lucco terminates employment for good reason (as defined in the Agreement) after a change in control of the Corporation, Mr. Lucco will be entitled to the payment of a cash severance amount equal to two times Mr. Lucco's average annual compensation and the maintenance of insurance and other benefits, provided that such payments will be limited if they are deemed "parachute payments" under Section 280 G of the Internal Revenue Code, as amended. In addition, Mr. Lucco was also granted 1,000 restricted stock awards with a face value of $16,050 based on the grant date stock price of $16.05 under the Corporation's 2007 Stock Incentive Plan and Trust. These awards will fully vest on the third anniversary of the grant.