On April 27, 2012, the Compensation Committee of the Board of Directors of Oconee Federal Financial Corp. granted stock options and restricted stock under the Oconee Federal Financial Corp. 2012 Equity Incentive Plan to its directors and certain of its officers, including its named executive officers. A total of 62,208 stock options and 24,884 shares of restricted stock were granted to directors. In addition, a total of 171,078 stock options and 62,210 shares of restricted stock were granted to officers.

The form of award agreements are filed as exhibits to this Current Report on Form 8-K.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits

Exhibit No.                           Description
10.1          Form of incentive stock option agreement with employees.
10.2          Form of non-qualified stock option agreement with employees.
10.3          Form of stock option agreement with outside directors.
10.4          Form of restricted stock agreement with employees.
10.5          Form of restricted stock agreement with outside directors.