<SEC-DOCUMENT>0000908834-20-000002.txt : 20200106
<SEC-HEADER>0000908834-20-000002.hdr.sgml : 20200106
<ACCEPTANCE-DATETIME>20200106163135
ACCESSION NUMBER:		0000908834-20-000002
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20191231
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:		20200106
DATE AS OF CHANGE:		20200106

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HORIZON BANCORP INC /IN/
		CENTRAL INDEX KEY:			0000706129
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				351562417
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10792
		FILM NUMBER:		20510154

	BUSINESS ADDRESS:	
		STREET 1:		515 FRANKLIN STREET
		CITY:			MICHIGAN CITY
		STATE:			IN
		ZIP:			46360
		BUSINESS PHONE:		2198790211

	MAIL ADDRESS:	
		STREET 1:		515 FRANKLIN STREET
		CITY:			MICHIGAN CITY
		STATE:			IN
		ZIP:			46360

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HORIZON BANCORP /IN/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CITIZENS MICHIANA FINANCIAL CORP
		DATE OF NAME CHANGE:	19861021
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>hb_8k123119.htm
<TEXT>
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  <div style="text-align: center; line-height: 13.7pt; font-size: 12pt; font-weight: bold;"><a name="OLE_LINK3"></a><a name="OLE_LINK4"></a>UNITED STATES</div>
  <div style="text-align: center; line-height: 13.7pt; font-size: 12pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
  <div style="text-align: center; line-height: 13.7pt; font-size: 12pt; font-weight: bold;">WASHINGTON, DC 20549</div>
  <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
  </div>
  <div style="text-align: center; line-height: 18.25pt; margin-bottom: 6pt; font-size: 14pt; font-weight: bold;">FORM 8-K</div>
  <div style="text-align: center; line-height: 15.95pt; margin-bottom: 6pt; font-size: 14pt; font-weight: bold;">CURRENT REPORT</div>
  <div style="text-align: center; line-height: 12.55pt; font-weight: bold;">Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934</div>
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      <tr>
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          <div style="text-align: center; line-height: 12.55pt;">Date of Report (Date of earliest event reported):&#160;&#160;<font style="font-weight: bold;">December 31, 2019</font></div>
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        <td style="width: 100%; vertical-align: top;" colspan="3">&#160;</td>
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          <div style="font-weight: bold; text-align: center;">Horizon Bancorp, Inc.</div>
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          <div style="text-align: center; line-height: 12.55pt;">(Exact name of registrant as specified in its charter)</div>
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        <td style="width: 34.01%; vertical-align: top;">&#160;</td>
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          <div style="text-align: center; line-height: 12.55pt; font-weight: bold;">Indiana</div>
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          <div style="text-align: center; line-height: 12.55pt; font-weight: bold;">000-10792</div>
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          <div style="text-align: center; line-height: 12.55pt; font-weight: bold;">35-1562417</div>
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          <div style="text-align: center; line-height: 12.55pt;">(State or other jurisdiction of incorporation)</div>
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          <div style="text-align: center; line-height: 12.55pt;">(Commission File Number)</div>
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          <div style="text-align: center; line-height: 12.55pt;">(IRS Employer Identification No.)</div>
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        <td style="width: 66%; vertical-align: top;" colspan="2">&#160;</td>
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          <div style="text-align: center; line-height: 12.55pt; font-weight: bold;">515 Franklin Street, Michigan City, Indiana</div>
        </td>
        <td style="width: 34%; vertical-align: top;">
          <div style="text-align: center; line-height: 12.55pt; font-weight: bold;">46360</div>
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        <td style="width: 66%; vertical-align: top;" colspan="2">
          <div style="text-align: center; line-height: 12.55pt;">(Address of principal executive offices)</div>
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          <div style="text-align: center; line-height: 12.55pt;">(Zip Code)</div>
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        <td style="width: 100%; vertical-align: top;" colspan="3">&#160;</td>
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      <tr>
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          <div style="text-align: center; line-height: 12.55pt; font-weight: bold;">(219) 879-0211</div>
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      <tr>
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          <div style="text-align: center; line-height: 12.55pt;">(Registrant&#8217;s telephone number, including area code)</div>
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      <tr>
        <td style="width: 100%; vertical-align: top;" colspan="3">&#160;</td>
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          <div style="text-align: center; line-height: 12.55pt;">(Former name or former address, if changed since last report)</div>
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  <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
  </div>
  <div style="text-align: justify; line-height: 13pt;">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 (<font style="font-style: italic;">see </font>General Instruction A.2. below):</div>
  <div style="line-height: 13pt;"><br style="line-height: 13pt;">
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          <div style="text-align: center; line-height: 13pt; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
        </td>
        <td style="width: 95.49%; vertical-align: top;">
          <div style="text-align: justify; text-indent: -14.4pt; margin-left: 14.4pt; line-height: 13pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
        </td>
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      <tr>
        <td style="width: 4.51%; vertical-align: top;">&#160;</td>
        <td style="width: 95.49%; vertical-align: top;">&#160;</td>
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          <div style="text-align: center; line-height: 13pt; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
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          <div style="text-align: justify; text-indent: -14.4pt; margin-left: 14.4pt; line-height: 13pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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        <td style="width: 95.49%; vertical-align: top;">&#160;</td>
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          <div style="text-align: center; line-height: 13pt; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
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        <td style="width: 95.49%; vertical-align: top;">
          <div style="text-align: justify; text-indent: -14.4pt; margin-left: 14.4pt; line-height: 13pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
            CFR 240.14d-2(b))</div>
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      <tr>
        <td style="width: 4.51%; vertical-align: top;">&#160;</td>
        <td style="width: 95.49%; vertical-align: top;">&#160;</td>
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          <div style="text-align: center; line-height: 13pt; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
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        <td style="width: 95.49%; vertical-align: top;">
          <div style="text-align: justify; text-indent: -14.4pt; margin-left: 14.4pt; line-height: 13pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
            CFR 240.13e-4(c))</div>
        </td>
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  <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
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  <div style="text-indent: -14.4pt; margin-left: 14.4pt; line-height: 12.55pt; margin-top: 6pt; margin-bottom: 6pt; color: #000000; font-weight: bold;">Securities registered
    pursuant to Section 12(b) of the Act:</div>
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          <div style="text-align: center; text-indent: -14.4pt; margin-left: 14.4pt; line-height: 12.55pt; margin-bottom: 2.2pt; color: #000000; font-weight: bold;">Trading Symbol(s)</div>
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          <div style="text-align: center; text-indent: -14.4pt; margin-left: 14.4pt; line-height: 12.55pt; margin-bottom: 2.2pt; color: #000000;">Common stock, no par value</div>
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          <div style="text-align: center; text-indent: -14.4pt; margin-left: 14.4pt; line-height: 12.55pt; margin-bottom: 2.2pt; color: #000000;">HBNC</div>
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        <td style="width: 51.93%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="text-align: center; text-indent: -14.4pt; margin-left: 14.4pt; line-height: 12.55pt; margin-bottom: 2.2pt; color: #000000;">The NASDAQ Stock Market, LLC</div>
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  </div>
  <div style="text-align: justify; line-height: 12.55pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
    (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>
  <div style="text-align: right; text-indent: -14.4pt; margin-left: 283.5pt; line-height: 12.55pt;">Emerging growth company&#160;&#160;<font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font></div>
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  <div style="text-align: justify; line-height: 12.55pt;">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 13(a) of the Exchange Act.&#160;&#160;<font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font></div>
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  <div style="line-height: 12.55pt; margin-bottom: 6pt;"><font style="font-weight: bold;">Item 5.02</font>&#160;&#160;<font style="font-weight: bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></div>
  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; margin-bottom: 6pt;">On December 31, 2019, Horizon Bancorp, Inc. (&#8220;<font style="font-weight: bold;">Horizon</font>&#8221;) and its wholly owned banking subsidiary Horizon Bank (&#8220;<font style="font-weight: bold;">Bank</font>&#8221;) entered into amended
    and restated employment agreements with Craig M. Dwight, Chairman and Chief Executive Officer of Horizon and the Bank, and with James D. Neff, President of Horizon and the Bank, each becoming effective on January 1, 2020. In addition, on that same
    date, the Bank entered into new or amended Change in Control Agreements with each of its named executive officers and certain other senior executive officers, with each of these agreements also becoming effective on January 1, 2020.</div>
  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; margin-bottom: 6pt;">The Board of Directors approved these new agreements to advance Horizon&#8217;s commitment to use only
    double trigger mechanisms for change-in-control compensation, an intent described by Horizon in its proxy statement for the 2019 Annual Meeting of Shareholders, filed with the Securities and Exchange Commission on March 15, 2019. Horizon also satisfied
    other goals with the new agreements, including the standardization of change-in-control terms and conditions for all executives and the elimination of all modified single trigger compensation awards upon a change in control.</div>
  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; margin-bottom: 6pt;">The standardization was accomplished by, among other things, eliminating change-in-control
    provisions from the employment agreements of Mr. Dwight and Mr. Neff, and offering them the same change in control agreement offered to the other executives. Although certain time periods and compensation levels vary among the executives under their
    respective change in control agreements, as a result of their varying ranks and responsibilities, the basic provisions, terms and conditions are the same for all.</div>
  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; margin-bottom: 6pt;">A brief description of the terms and conditions of the Change in Control Agreements and the
    Amended and Restated Employment Agreements follows.</div>
  <div style="text-align: justify; line-height: 12.55pt; margin-bottom: 6pt; font-style: italic; font-weight: bold;">Change in Control Agreements</div>
  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; margin-bottom: 6pt;">The following executives have entered into a new or amended and restated Change in Control
    Agreement with the Bank:</div>
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      <tr>
        <td style="width: 8%; vertical-align: top;" colspan="1">&#160;</td>
        <td style="width: 15%; vertical-align: top;">
          <div style="line-height: 12.55pt; margin-bottom: 6pt; font-weight: bold;">Executive</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
        <td style="width: 77%; vertical-align: top;">
          <div style="line-height: 12.55pt; margin-bottom: 6pt; font-weight: bold;">Title</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 8%; vertical-align: top;" colspan="1">&#160;</td>
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          <div style="line-height: 12.55pt; margin-bottom: 6pt;">Craig M. Dwight</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
        <td style="width: 77%; vertical-align: top;">
          <div style="line-height: 12.55pt; margin-bottom: 6pt;">Chairman &amp; Chief Executive Officer of Horizon and Bank</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 8%; vertical-align: top;" colspan="1">&#160;</td>
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          <div style="line-height: 12.55pt; margin-bottom: 6pt;">James D. Neff</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
        <td style="width: 77%; vertical-align: top;">
          <div style="line-height: 12.55pt; margin-bottom: 6pt;">President of Horizon and Bank</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 8%; vertical-align: top;" colspan="1">&#160;</td>
        <td style="width: 15%; vertical-align: top;">
          <div style="line-height: 12.55pt; margin-bottom: 6pt;">Mark E. Secor</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
        <td style="width: 77%; vertical-align: top;">
          <div style="line-height: 12.55pt; margin-bottom: 6pt;">Chief Financial Officer of Horizon; Executive Vice President &amp; Chief Financial Officer of Bank</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 8%; vertical-align: top;" colspan="1">&#160;</td>
        <td style="width: 15%; vertical-align: top;">
          <div style="line-height: 12.55pt; margin-bottom: 6pt;">Kathie A. DeRuiter</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
        <td style="width: 77%; vertical-align: top;">
          <div style="line-height: 12.55pt; margin-bottom: 6pt;">Executive Vice President &amp; Senior Operations Officer of Bank</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 8%; vertical-align: top;" colspan="1">&#160;</td>
        <td style="width: 15%; vertical-align: top;">
          <div style="line-height: 12.55pt; margin-bottom: 6pt;">Dennis J. Kuhn</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
        <td style="width: 77%; vertical-align: top;">
          <div style="line-height: 12.55pt; margin-bottom: 6pt;">Executive Vice President of Horizon; Executive Vice President &amp; Chief Commercial Banking Officer of Bank</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 8%; vertical-align: top;" colspan="1">&#160;</td>
        <td style="width: 15%; vertical-align: top;">
          <div style="line-height: 12.55pt; margin-bottom: 6pt;">Todd A. Etzler</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
        <td style="width: 77%; vertical-align: top;">
          <div style="line-height: 12.55pt; margin-bottom: 6pt;">Corporate Secretary &amp; General Counsel of Horizon; Senior Vice President, Corporate Secretary &amp; General
            Counsel of Bank</div>
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
        </td>
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  <div style="line-height: 12.55pt; margin-bottom: 6pt;"><br style="line-height: 12.55pt;">
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  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; margin-bottom: 6pt;">The table below includes a brief description of the key operative provisions of the Change in
    Control Agreement and illustrates any variations in benefits among the executives.</div>
  <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
  </div>
  <table cellspacing="0" cellpadding="2" border="0" id="ze83e4c4e9ddd463681263c12b65be1d9" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

      <tr>
        <td style="width: 20.39%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Key Terms and Conditions</div>
        </td>
        <td style="width: 54.06%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; font-family: 'Times New Roman',Times,serif; font-weight: bold; text-indent: -18pt; margin-left: 18pt;">Description</div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; font-family: 'Times New Roman',Times,serif; font-weight: bold; text-indent: -18pt; margin-left: 18pt;">Application to Executives</div>
        </td>
      </tr>
      <tr>
        <td style="width: 20.39%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Term</div>
        </td>
        <td style="width: 54.06%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Begins January 1, 2020</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Terminates immediately upon executive&#8217;s termination for any reason before a change in control</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Upon a change in control, the term is fixed at 1 year</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Same for all</font></div>
        </td>
      </tr>
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        <td style="width: 20.39%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Effect on Employment</div>
        </td>
        <td style="width: 54.06%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Not an employment agreement. Executives remain &#8220;at will&#8221; employees, terminable at any time for any reason</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Executives entitled to certain notice and cure rights and procedures in the event the Bank seeks to terminate an executive for cause (both before and after a change in control)</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Dwight and Neff have separate employment agreements governing their employment relationship</font></div>
        </td>
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        <td style="width: 20.39%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Effect of a Change in Control</div>
        </td>
        <td style="width: 54.06%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">If a change in control occurs, and if executive experiences a &#8220;Qualifying Termination&#8221; during the 6 months before or the year after a change in control, then executive is entitled to certain severance benefits
              (provided all other conditions are met)</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Same general right for all (<font style="font-style: italic;">see Severance Benefits below for specific severance benefit differences</font>)</font></div>
        </td>
      </tr>
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        <td style="width: 20.39%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Two Types of &#8220;Qualifying Termination&#8221;</div>
        </td>
        <td style="width: 54.06%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Bank terminates executive for any reason except for &#8220;cause&#8221;; Cause generally means breach and wrongdoing by executive, in which case executive does not receive severance benefits</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Executive resigns for &#8220;good reason&#8221;; Good reason generally means that the executive&#8217;s quality of work life and/or compensation has been impaired by required relocations or reductions in position, responsibility,
              benefits, and salary</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Same for all</font></div>
        </td>
      </tr>
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        <td style="width: 20.39%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Additional Conditions to Receipt of the Severance Benefits</div>
        </td>
        <td style="width: 54.06%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Executive must sign and deliver a release</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Executive must be and remain in compliance with restrictive covenants relating to non-disclosure of confidential information, return of property, non-solicitation of certain of Bank&#8217;s customers and employees, and
              non-competition with Bank in certain areas</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Same general condition for all (<font style="font-style: italic;">see Restrictive Covenants below for specific variations among executives in
                duration of restrictive covenants</font>)</font></div>
        </td>
      </tr>
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        <td style="width: 20.39%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; font-weight: bold;">Double Trigger Change in Control Severance Benefits</div>
        </td>
        <td style="width: 54.06%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold; font-style: italic;">Normal payroll.</font> Base salary earned through the date of termination</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Same for all</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 20.39%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
        <td style="width: 54.06%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold; font-style: italic;">Base salary multiple. </font>A lump sum amount equal to the executive&#8217;s then-current
              base salary multiplied by the executive&#8217;s individual multiple</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif; font-style: italic; font-weight: bold;">Multiples</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Dwight 2.99</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Neff 2.99</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Secor 2.00</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">DeRuiter 2.00</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Kuhn 2.00</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Etzler 1.00</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;"> <br>
            </font></div>
        </td>
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      <tr>
        <td style="width: 20.39%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
        <td style="width: 54.06%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold; font-style: italic;">Cash bonus multiple.</font> An amount equal to the average of executive&#8217;s total cash
              bonuses in the 2 years preceding termination multiplied by the executive&#8217;s individual multiple</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif; font-style: italic; font-weight: bold;">Multiples</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Dwight 2.99</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Neff 2.00</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Secor 2.00</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">DeRuiter 1.00</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Kuhn 1.00</font></div>
          <div style="line-height: 12.55pt; font-family: 'Times New Roman',Times,serif; text-indent: -18pt; margin-left: 36pt;">o&#160;&#160;&#160; Etzler 1.00</div>
          <div style="line-height: 12.55pt; font-family: 'Times New Roman',Times,serif; text-indent: -18pt; margin-left: 36pt;"> <br>
          </div>
        </td>
      </tr>
      <tr>
        <td style="width: 20.39%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
        <td style="width: 54.06%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold; font-style: italic;">Continued participation in group health and life insurance benefits.</font> Subject to
              certain conditions, continued coverage for the executive&#8217;s individual benefit continuation term</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif; font-style: italic; font-weight: bold;">Benefit continuation term</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Dwight 35 months</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Neff 24 months</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Secor 24 months</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">DeRuiter 12 months</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Kuhn 12 months</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Etzler 12 months</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;"> <br>
            </font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 20.39%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
        <td style="width: 54.06%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold; font-style: italic;">Vested incentive compensation.</font> All amounts vested or accrued prior to termination
              under incentive compensation plans in accordance with their terms<br>
              <br>
            </font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Same for all</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 20.39%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        <td style="width: 54.06%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold; font-style: italic;">Partial year bonus.</font> An amount equal to the partial year bonus executive would
              have earned under an existing bonus plan in the year of a change in control, based on then-current financial results</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Same for all</font></div>
        </td>
      </tr>

  </table>
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    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
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        <td style="width: 20.39%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); font-weight: bold;" rowspan="1">&#160;Key Terms and Conditions</td>
        <td style="width: 54.06%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); font-weight: bold;" rowspan="1">&#160;Description</td>
        <td style="width: 25.55%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0); font-weight: bold;" rowspan="1">&#160;Application to Executives</td>
      </tr>
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        <td style="width: 20.39%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Restrictive Covenants: <font style="font-style: italic;">Non-Disclosure and Return of Property</font></div>
        </td>
        <td style="width: 54.06%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Executive will not discuss or use confidential information in competition or for executive&#8217;s own benefit while employed and at all times thereafter</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Same for all</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 20.39%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Restrictive Covenants: <font style="font-style: italic;">Non-Solicitation of Customers and Employees</font></div>
        </td>
        <td style="width: 54.06%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">In general, executive will not solicit or divert Bank customers and employees over which executive had responsibility in the one year preceding termination or for which executive has confidential information</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Restriction applies during the term of the Change in Control Agreement and for an individually prescribed period after termination</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif; font-style: italic; font-weight: bold;">Individual periods of restriction</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Dwight 2 years</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Neff 2 years</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Secor 2 years</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">DeRuiter 2 years</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Kuhn 2 years</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Etzler 1 year</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 20.39%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Restrictive Covenants: <font style="font-style: italic;">Non-Competition</font></div>
        </td>
        <td style="width: 54.06%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Executive is restricted from directly or indirectly competing with Bank during executive&#8217;s employment</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">In general, for an individually prescribed period after termination, executive may not compete with Bank using the information gained from executive&#8217;s employment in the geographic regions where the executive
              served and performed services</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif; font-style: italic; font-weight: bold;">Individual periods of restriction</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Dwight 2 years</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Neff 2 years</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Secor 2 years</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">DeRuiter 2 years</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Kuhn 2 years</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Etzler 1 year</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 20.39%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Successors and Assigns</div>
        </td>
        <td style="width: 54.06%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Bank will require any successor to assume the Change in Control Agreement</font></div>
        </td>
        <td style="width: 25.55%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Same for all</font></div>
        </td>
      </tr>

  </table>
  <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
  </div>
  <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
  </div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
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  </div>
  <div style="text-align: justify; line-height: 12.55pt; margin-bottom: 6pt; font-style: italic; font-weight: bold;">Amended and Restated Employment Agreements</div>
  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; margin-bottom: 6pt;">Both Mr. Dwight and Mr. Neff have entered into new Amended and Restated Employment Agreements
    with Horizon and the Bank.</div>
  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; margin-bottom: 6pt;">The table below includes a brief description of the key operative provisions of the Amended and
    Restated Employment Agreements and notes circumstances in which the rights and benefits of Mr. Dwight and Mr. Neff may differ.</div>
  <table cellspacing="0" cellpadding="0" id="z173c2234a4e749158db08df8d75fc271" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

      <tr>
        <td style="width: 22.35%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Key Terms andConditions</div>
        </td>
        <td style="width: 77.65%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; font-family: 'Times New Roman',Times,serif; font-weight: bold; text-indent: -18pt; margin-left: 18pt;">Description</div>
        </td>
      </tr>
      <tr>
        <td style="width: 22.35%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Term</div>
        </td>
        <td style="width: 77.65%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font> &#160; &#160; <font style="font-family: 'Times New Roman',Times,serif;">Three-year term begins January 1, 2020</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="line-height: 12.55pt;">&#160;</font></div>
          <div style="line-height: 12.55pt; font-family: 'Times New Roman',Times,serif; font-style: italic; font-weight: bold; text-indent: -18pt; margin-left: 18pt;">Dwight/Neff Differences</div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;&#160;</font> &#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Dwight term ends January 1, 2023</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font> &#160; &#160; <font style="font-family: 'Times New Roman',Times,serif;">Neff term is a rolling 3-year term that will be extended annually for another year unless Horizon delivers notice to Neff that it will not be extended</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font> &#160; &#160; <font style="font-family: 'Times New Roman',Times,serif;">On January 1, 2025, Neff becomes an employee-at-will, and either Horizon or Neff can terminate the relationship for any reason, or no reason, and without notice</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 22.35%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Salary &amp; Benefits</div>
        </td>
        <td style="width: 77.65%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160; &#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Entitled to a base salary to be reviewed and potentially increased annually (but not decreased) by the Compensation Committee of the Board of Directors</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160; &#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Entitled to participate in all incentive compensation and benefit programs generally available to executive officers</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 22.35%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Termination Provisions</div>
        </td>
        <td style="width: 77.65%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160; &#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Horizon can terminate the executive for &#8220;Cause,&#8221; which includes any of the following actions by the executive:</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160; &#160; <font style="font-family: 'Times New Roman',Times,serif;">Intentional acts of fraud, embezzlement, dishonesty;</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160; &#160; <font style="font-family: 'Times New Roman',Times,serif;">Intentional damage causing material harm to Horizon;</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160; &#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Material breach of the employment agreement or the Change in Control Agreement</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160; &#160; <font style="font-family: 'Times New Roman',Times,serif;">Gross negligence or insubordination</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Violation of certain banking laws resulting in the loss of right to work for a depository institution</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="line-height: 12.55pt;">&#160;</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160; &#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Both Dwight and Neff have the right to terminate the employment relationship for &#8220;Good Reason,&#8221; which includes, among other reasons, the following:</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160; &#160; <font style="font-family: 'Times New Roman',Times,serif;">Office move more than 30 miles from home</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Reductions of 10% or more in salary or total compensation, including benefit plan rights (unless institution-wide reductions and proportionate to other executive officers)</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160; &#160; <font style="font-family: 'Times New Roman',Times,serif;">Assignment of materially different duties, reduced responsibilities, or removal from current position or title</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="line-height: 12.55pt;">&#160;</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Both Dwight and Neff are required to provide a 60-day written notice before terminating the relationship without &#8220;Good Reason&#8221;</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="line-height: 12.55pt;">&#160;</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160; &#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Horizon can terminate the executive and the agreement for reasons related to the federal and state banking regulations, including situations in which the executive might be prohibited from engaging in banking
              under the Federal Deposit Insurance Act, or the Bank is found in default or in financial trouble under the Federal Deposit Insurance Act</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 22.35%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Special Compensation Rights Upon Certain Terminations</div>
        </td>
        <td style="width: 77.65%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">In the event Horizon terminates the executive without &#8220;Cause&#8221; or the executive resigns for &#8220;Good Reason,&#8221; the executive is entitled to the following payments:</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Base salary through date of termination</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">An amount equal to the then-current annual base salary (Dwight receives this amount multiplied by two)</font></div>
          <div style="line-height: 12.55pt; font-family: 'Times New Roman',Times,serif; text-indent: -18pt; margin-left: 36pt;">o&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">Dwight:</font> An amount equal to cash bonuses for the prior two calendar years<font style="font-weight: bold; font-style: italic;"></font></div>
          <div style="line-height: 12.55pt; font-family: 'Times New Roman',Times,serif; text-indent: -18pt; margin-left: 36pt;"><font style="font-weight: bold; font-style: italic;">&#160;&#160; &#160;&#160;&#160; Neff: </font>An amount equal to the average of cash bonuses for the prior two calendar years</div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Continued participation in group health and life insurance programs for a year (Dwight receives two years), or cash reimbursement in equivalent amount (subject to a ceiling of 110% of Horizon&#8217;s standard cost for
              providing the benefits)</font></div>
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 36pt;"><font style="font-family: 'Times New Roman',Times,serif;">o</font>&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Vested and accrued incentive compensation and matching contributions</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 22.35%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Limitations on Payments</div>
        </td>
        <td style="width: 77.65%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">All payments to the executives are subject to FDIC restrictions on golden parachutes and indemnification, as well as subject to Internal Revenue Code Section 409A requirements and the deductibility limits of
              Internal Revenue Code Section 280G</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 22.35%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="line-height: 12.55pt; font-weight: bold;">Conditions to Payments</div>
        </td>
        <td style="width: 77.65%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="line-height: 12.55pt; text-indent: -18pt; margin-left: 18pt;"><font style="font-family: 'Times New Roman',Times,serif;">&#8226;</font>&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Executives must sign a release of claims in favor of Horizon within 60 days following termination. The release must remain unrevoked during all revocation right periods.</font></div>
        </td>
      </tr>

  </table>
  <div style="line-height: 12.55pt; margin-bottom: 6pt;"><br style="line-height: 12.55pt;">
  </div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
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  </div>
  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; margin-bottom: 6pt;">The foregoing descriptions are not intended to be complete and are qualified in their entirety
    by reference to the complete copies of the following agreements, each of which is attached to this Current Report on Form 8-K and incorporated herein by this reference: (i) Change in Control Agreement (Craig M. Dwight), attached as Exhibit 10.1; (ii)
    Change in Control Agreement (James D. Neff), attached as Exhibit 10.2; (iii) Change in Control Agreement (Mark E. Secor), attached as Exhibit 10.3; (iv) Change in Control Agreement (Kathie A. DeRuiter), attached as Exhibit 10.4; (v) Change in Control
    Agreement (Dennis J. Kuhn), attached as Exhibit 10.5; (vi) Change in Control Agreement (Todd A. Etzler), attached as Exhibit 10.6; (vii) Amended and Restated Employment Agreement (Craig M. Dwight), attached as Exhibit 10.7; (viii) Amended and Restated&#160;
    Employment Agreement (James D. Neff), attached as Exhibit 10.8.</div>
  <div style="line-height: 12.55pt; margin-bottom: 6pt;"><br style="line-height: 12.55pt;">
  </div>
  <div style="line-height: 12.55pt; margin-bottom: 6pt; font-weight: bold;">Item 9.01&#160;&#160;Financial Statements and Exhibits</div>
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        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 64.08%; vertical-align: top;">&#160;</td>
        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 12.23%; vertical-align: top;">&#160;</td>
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      <tr>
        <td style="width: 4.22%; vertical-align: top;">&#160;</td>
        <td style="width: 14.72%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
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        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 64.08%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="line-height: 12.55pt; margin-top: 6pt;"><a href="hb_8k123119ex101.htm">Change in Control Agreement (Craig M. Dwight)</a></div>
        </td>
        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 12.23%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">Attached</div>
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      <tr>
        <td style="width: 4.22%; vertical-align: top;">&#160;</td>
        <td style="width: 14.72%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">10.2</div>
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        <td style="width: 64.08%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="line-height: 12.55pt; margin-top: 6pt;"><a href="hb_8k123119ex102.htm">Change in Control Agreement (James D. Neff)</a></div>
        </td>
        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 12.23%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">Attached</div>
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      <tr>
        <td style="width: 4.22%; vertical-align: top;">&#160;</td>
        <td style="width: 14.72%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
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        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 64.08%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="line-height: 12.55pt; margin-top: 6pt;"><a href="hb_8k123119ex103.htm">Change in Control Agreement (Mark E. Secor)</a></div>
        </td>
        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 12.23%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">Attached</div>
        </td>
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      <tr>
        <td style="width: 4.22%; vertical-align: top;">&#160;</td>
        <td style="width: 14.72%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">10.4</div>
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        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 64.08%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="line-height: 12.55pt; margin-top: 6pt;"><a href="hb_8k123119ex104.htm">Change in Control Agreement (Kathie A. DeRuiter)</a></div>
        </td>
        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 12.23%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">Attached</div>
        </td>
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      <tr>
        <td style="width: 4.22%; vertical-align: top;">&#160;</td>
        <td style="width: 14.72%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">10.5</div>
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        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 64.08%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="line-height: 12.55pt; margin-top: 6pt;"><a href="hb_8k123119ex105.htm">Change in Control Agreement (Dennis J. Kuhn)</a></div>
        </td>
        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 12.23%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">Attached</div>
        </td>
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      <tr>
        <td style="width: 4.22%; vertical-align: top;">&#160;</td>
        <td style="width: 14.72%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">10.6</div>
        </td>
        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 64.08%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="line-height: 12.55pt; margin-top: 6pt;"><a href="hb_8k123119ex106.htm">Change in Control Agreement (Todd A. Etzler)</a></div>
        </td>
        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 12.23%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">Attached</div>
        </td>
      </tr>
      <tr>
        <td style="width: 4.22%; vertical-align: top;">&#160;</td>
        <td style="width: 14.72%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">10.7</div>
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        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 64.08%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="line-height: 12.55pt; margin-top: 6pt;"><a href="hb_8k123119ex107.htm">Amended and Restated Employment Agreement (Craig M. Dwight)</a></div>
        </td>
        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 12.23%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">Attached</div>
        </td>
      </tr>
      <tr>
        <td style="width: 4.22%; vertical-align: top;">&#160;</td>
        <td style="width: 14.72%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">10.8</div>
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        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 64.08%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="line-height: 12.55pt; margin-top: 6pt;"><a href="hb_8k123119ex108.htm">Amended and Restated Employment Agreement (James D. Neff)</a></div>
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        <td style="width: 2.37%; vertical-align: top;">&#160;</td>
        <td style="width: 12.23%; vertical-align: top;">
          <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          <div style="text-align: center; line-height: 12.55pt; margin-top: 6pt;">Attached</div>
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  <div style="text-align: center; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt; font-weight: bold;">SIGNATURES</div>
  <div style="text-align: justify; text-indent: 36pt; line-height: 12.55pt; margin-bottom: 6pt;">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>
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      <tr>
        <td style="width: 50%; vertical-align: top;">
          <div style="text-indent: -14.4pt; margin-left: 14.4pt; line-height: 12.55pt;">Date:&#160;January 6, 2020</div>
        </td>
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          <div style="text-indent: -14.4pt; margin-left: 14.4pt; line-height: 12.55pt;">HORIZON BANCORP, INC.</div>
        </td>
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        <td style="width: 3%; vertical-align: top;">&#160;</td>
        <td style="width: 47%; vertical-align: top;">&#160;</td>
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        <td style="width: 3%; vertical-align: top;">&#160;</td>
        <td style="width: 47%; vertical-align: top;">&#160;</td>
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        <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Mark E. Secor</td>
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        <td style="width: 3%; vertical-align: top;" rowspan="2">&#160;</td>
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          <div style="text-indent: -14.4pt; margin-left: 14.4pt; line-height: 12.55pt;">Mark E. Secor,</div>
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      </tr>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>hb_8k123119ex101.htm
<DESCRIPTION>CHANGE IN CONTROL AGREEMENT (CRAIG M. DWIGHT)
<TEXT>
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      <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.1</font><br>
      </div>
      <div> <br>
      </div>
      <div>&#160;
        <div style="text-align: center; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">HORIZON BANK<br>
          <br style="line-height: 13.7pt;">
          <br>
          CHANGE IN CONTROL AGREEMENT</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">This Change in Control Agreement</font> (&#8220;<font style="font-weight: bold;">Agreement</font>&#8221;),
          dated and effective as of January&#160;1, 2020 (the &#8220;<font style="font-weight: bold;">Effective Date</font>&#8221;), is entered into between <font style="font-variant: small-caps;">Horizon Bank</font> (&#8220;<font style="font-weight: bold;">Bank</font>&#8221;), an
          Indiana state bank, and<font style="font-variant: small-caps;">&#160;</font><font style="font-weight: bold; font-variant: small-caps;">Craig M. Dwight</font><font style="font-variant: small-caps;">&#160;</font>(&#8220;<font style="font-weight: bold;">Employee</font>&#8221;),
          a resident of the State of <font style="font-weight: bold;">Indiana</font>.</div>
        <div style="text-align: center; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold;">WITNESSETH</font>:</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, Bank is a subsidiary of Horizon Bancorp, Inc. (&#8220;<font style="font-weight: bold;">Holding Company</font>&#8221;), a corporation formed under the laws of the State of Indiana;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, Executive currently serves as an employee of the Bank, either
          as an employee-at-will or pursuant to a written employment agreement;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, the Board of Directors of the Bank (&#8220;<font style="font-weight: bold;">Board</font>&#8221;) has determined that it is in the best interests of the Bank and the Holding Company to assure that the Bank will have the continued dedication and objectivity of Employee, notwithstanding the possibility, threat or
          occurrence of a Change in Control (as defined herein) of the Bank or the Holding Company; and</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, the Board believes that it is in the best interests of the
          Bank and the Holding Company to provide Employee with certain severance benefits following a Change in Control in order to provide Employee with enhanced financial security, to allow the Bank to remain competitive with peers, and to incentivize
          and encourage Employee to remain with the Bank notwithstanding the possibility of a Change in Control.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Now, Therefore</font>, in consideration of the mutual promises herein
          contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Term</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The term of this Agreement shall begin on the Effective Date and, except as otherwise expressly provided herein, automatically terminate
          immediately upon the termination of Employee&#8217;s employment, for any reason, prior to a Change in Control. In the event Employee is still employed by Bank at the time of a Change in Control, then the term shall continue for one (1) year following
          consummation of the Change in Control. Notwithstanding the foregoing, the provisions of Sections 8 &#8211; 24 of this Agreement shall survive any termination of the Term, as provided in Section 12 of this Agreement.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">At-Will Employment</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Unless Employee is a party to a separate written employment agreement with Bank or Holding Company, nothing in this Agreement shall be
          deemed to entitle Employee to continued employment with Bank or any affiliated companies. Employee acknowledges that unless Employee is subject to a separate written employment agreement that provides otherwise, Employee is an at-will employee,
          meaning that either Employee or Bank can terminate the employment relationship at any time, with or without Cause (as defined herein), and that this Agreement shall not change or affect Employee&#8217;s at-will status. If Employee&#8217;s employment with
          Bank terminates prior to a Change in Control, Employee shall have no further rights under this Agreement, except as otherwise provided herein.</div>
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u>Definition</u></font>.&#160;&#160;
          <font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"></font>For purposes of this Agreement, a &#8220;<font style="font-weight: bold;">Change in Control</font>&#8221; shall be deemed to have occurred if the conditions or
          events set forth in any one or more of the following subsections occur:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any merger,
            consolidation or similar transaction which involves Bank or Holding Company and in which persons who are the shareholders of Bank or Holding Company immediately prior to the transaction own, immediately after the transaction, shares of the
            surviving or combined entity which possess voting rights equal to or less than 50 percent of the voting rights of all shareholders of such entity, determined on a fully diluted basis;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any sale, lease,
            exchange, transfer or other disposition of all or substantially all of the consolidated assets of Bank or Holding Company;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any tender,
            exchange, sale or other disposition (other than disposition of the stock of Holding Company or Bank in connection with bankruptcy, insolvency, foreclosure, receivership or other similar transactions) or purchase (other than purchases by Holding
            Company or any Holding Company or Bank-sponsored employee benefit plan, or purchases by members of the board of directors of Holding Company or Bank) of shares which represent more than 25 percent of the voting power of Holding Company or Bank;
            or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">During any period
            of two consecutive years, individuals who at the date of this Agreement constitute the board of directors of Holding Company cease for any reason to constitute at least a majority thereof, unless the election of each director at the beginning
            of the period has been approved by directors representing at least a majority of the directors then in office.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u>Exceptions</u></font>.&#160;&#160;
          <font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"></font>Notwithstanding the provisions of Section 3(a), a Change in Control shall not be deemed to have occurred:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">As a result of the
            issuance of stock by the Holding Company in connection with any public offering of its stock;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">With respect to
            stock ownership by the Horizon Bancorp Employee Stock Ownership Plan Trust (which forms a part of the Horizon Bancorp Employees&#8217; Stock Ownership Plan), the Horizon Bancorp Employee&#8217;s Thrift Plan Trust (which forms a part of the Horizon Bancorp
            Employee&#8217;s Thrift Plan), or any other employee benefit plan; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">With
              respect to any payment or benefit provided under the Agreement to which Section&#160;409A of the Internal Revenue Code of 1986, as amended (the &#8220;</font><font style="font-weight: bold; color: #000000;">Internal Revenue Code</font><font style="color: #000000;">&#8221;), is applicable and for which a change in control event is required, unless the event related to such payment or benefit constitutes a &#8220;change in control&#8221; for purposes of Section&#160;409A.</font></font></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;">2</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><a name="z_Ref19116499"></a><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Double-Trigger Severance Benefits in Connection with a Change in Control and a Qualifying Termination</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination Period</u></font>.&#160; In connection with a Change in Control, Employee will be entitled to the severance benefits set forth in
          this Section 4 if during the six (6) month period prior to a Change in Control or during the one (1) year period following consummation of a Change in Control, either of the following two qualifying terminations occurs: (i) Bank terminates
          Employee&#8217;s employment for any reason other than for Cause (as hereafter defined); or (ii) Employee resigns for Good Reason (as hereafter defined) in accordance with the provisions of Section 6; (each of the terminations described in (i) and (ii)
          hereof shall be referred to as a &#8220;<font style="font-weight: bold;">Qualifying Termination</font>&#8221;).</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;"><u>Conditions to
                  Receipt of Severance Benefits</u>.&#160; Employee&#8217;s entitlement to the severance payments set forth in this Section 4 shall be contingent upon Employee&#8217;s execution (and non-revocation) of a release of claims relating to Employee&#8217;s
              employment by the Bank, Holding Company, and/or any of their Affiliates in favor of such parties in a form reasonably acceptable to, and provided by, Bank (the &#8220;</font><font style="font-weight: bold; color: #000000;">Release</font><font style="color: #000000;">&#8221;). Bank will set a deadline for return of the Release that will be no later than sixty (60) days following the later of the Employee&#8217;s Qualifying Termination or Change in Control, as applicable, and the Release must
              remain unrevoked during any revocation period. No severance benefits shall be paid to Employee under this Agreement if the Release is not executed by Employee and returned to Bank by such deadline. In addition, Employee must be and remain in
              compliance with the provisions of Sections 8 &#8211; 10 of this Agreement.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Severance Benefits Provided</u></font>.&#160; Upon a Qualifying Termination and subject to Employee&#8217;s compliance with Sections 8 - 10 hereof
          and Employee&#8217;s timely execution and delivery of the Release, Bank will pay or provide to Employee the following amounts and benefits:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">That portion of
            Employee&#8217;s base salary earned through the date of termination, payable in accordance with normal payroll practices commencing as of the first payroll period following Employee&#8217;s return of the executed Release and the lapse of all applicable
            revocation periods, or as soon as administratively practicable thereafter;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">A
              lump sum amount equal to </font><font style="font-weight: bold; color: #000000;">2.99 times</font><font style="color: #000000;"> Employee&#8217;s annual base salary in effect as of the date immediately preceding the date of termination plus a
              single sum payment equal to the average of the Employee&#8217;s total cash bonuses paid or payable for the last two calendar years preceding the date of termination multiplied by a factor of </font><font style="font-weight: bold; color: #000000;">2.99</font><font style="color: #000000;">, all payable as of the date of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively practicable thereafter;</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">Continued
              participation in the group health insurance and group life insurance benefits which Employee was eligible to participate in or receive on the day prior to the date of termination (&#8220;</font><font style="font-weight: bold; color: #000000;">Insurance

              Programs</font><font style="color: #000000;">&#8221;), beginning on the date of termination and continuing for a period of </font><font style="font-weight: bold; color: #000000;">thirty-five (35) months</font><font style="color: #000000;"> (&#8220;</font><font style="font-weight: bold; color: #000000;">Benefit Continuation Term</font><font style="color: #000000;">&#8221;), but only to the extent Employee continues to qualify for participation therein and takes all actions required in connection with such
              participation (including participation through Employee&#8217;s timely election of COBRA continuation coverage). If Employee is not permitted to continue participation in those Insurance Programs for any portion of the Benefit Continuation Term,
              Bank will reimburse Employee for the cost of health insurance and life insurance benefits for the Benefit Continuation Term, subject to the Employee timely providing evidence of</font></font></div>
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        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">payment for such benefits; <font style="font-style: italic;">provided, however</font>, the amount of these benefits
          will be limited to an amount equal to 110% of Bank&#8217;s cost of providing comparable benefits under the Insurance Programs and provided that Employee shall receive the entire amount payable under this Section 4(c)(iii) no later than the end of the
          second calendar year following the Qualifying Termination;</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">All amounts that
            have vested or accrued prior to or on the date of termination (or otherwise are or become payable to Employee) under all incentive compensation or other qualified and non-qualified employee benefit plans of the Holding Company or Bank in
            accordance with the provisions of such plans and past practices of Holding Company or Bank, including without limitation, any Bank contributions or matches related to those amounts. For purposes of clarification, the intent of this Section is
            for Employee to receive all amounts attributable to Employee&#8217;s participation in such plans, as now or hereafter existing, up to and including the date of termination, regardless of whether the amounts are historically deposited or credited to
            individual employee accounts or subject to Board of Director approval on a date beyond the date of termination, and Bank agrees to compute and pay, deposit or credit all such amounts as soon as possible after the date of termination if not
            capable of being calculated, paid, deposited or credited prior to the date of termination;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">An amount equal to
            the partial year bonus which Employee would have earned based on the then-current bonus plan of the Bank in the year a Change in Control occurred, as measured through the effective date of a Change in Control based on the then-current financial
            results, determined by the Bank in its discretion, payable as of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively practicable thereafter;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding the
            foregoing, all options granted to Employee to purchase shares of common stock of the Holding Company and all performance shares and shares of restricted stock of the Holding Company (whether such options, performance shares and restricted
            shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and Employee.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(d)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Suspension and Termination of Severance Benefits</u></font>.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">If
              Employee is removed and/or permanently prohibited from participating in the conduct of the Bank&#8217;s affairs by an order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (&#8220;</font><font style="font-weight: bold; color: #000000;">FDIA</font><font style="color: #000000;">&#8221;) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of Bank and Holding Company under this Agreement shall terminate as of the effective date of the order, but vested rights of the
              parties shall not be affected.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">If the Bank is in
            default (as defined in Section 3(x)(1) of FDIA), all obligations of Bank and Holding Company under this Agreement shall terminate as of the date of default; however, this subsection shall not affect the vested rights of the parties.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">All
              obligations of Bank and Holding Company under this Agreement shall terminate, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (A) by the Indiana Department of Financial
              Institutions (the &#8220;</font><font style="font-weight: bold; color: #000000;">DFI</font><font style="color: #000000;">&#8221;) or its designee, or the Bank&#8217;s primary federal regulator at the time</font></font></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;">4</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">that the Federal Deposit Insurance Corporation (&#8220;<font style="font-weight: bold;">FDIC</font>&#8221;) enters into an agreement
          to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of FDIA; or (B) by the DFI, or its designee, or the Bank&#8217;s primary federal regulator, at the time that the DFI, or its designee, or the Bank&#8217;s
          primary federal regulator, approves a supervisory merger to resolve problems related to the operation of the Bank or when the Bank is determined by the DFI, or the Bank&#8217;s primary federal regulator, to be in an unsafe or unsound condition. Any
          such action shall not affect any vested rights of the parties.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">If a notice served
            under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) or (g)(1)) suspends and/or temporarily prohibits Employee from participating in the conduct of the Bank&#8217;s affairs, Bank&#8217;s and Holding Company&#8217;s obligations under this Agreement
            shall be suspended as of the effective date of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Bank shall (A) pay Employee all or part of the compensation withheld while its contract
            obligations were suspended, and/or (B) reinstate (in whole or in part) any of its obligations which were suspended.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding
            anything to the contrary contained herein, Employee acknowledges and agrees that any payments made to Employee pursuant to this Agreement, or otherwise, are subject to and conditioned upon compliance with the provisions of 12 U.S.C. 1828(k) and
            Part 359 of the FDIC&#8217;s regulations (12 C.F.R. Part 359), which provisions contain certain prohibitions and limitations on making &#8220;golden parachute&#8221; and certain indemnification payments by FDIC-insured institutions and their holding companies.
            In the event any payments to Employee pursuant to this Agreement are prohibited or limited by the provisions of such statute and/or regulations, Bank and/or Holding Company (A) shall pay the maximum amount that may be paid after applying such
            limitations; and (B) will use commercially reasonable efforts to obtain the consent of the appropriate regulatory authorities to the payment of any amount that otherwise cannot be paid due to the application of such limitations. Employee agrees
            that Bank and/or Holding Company shall not have breached any obligations under this Agreement if they are unable to pay all or some portion of any payment due to Employee as a result of the application of these limitations.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;"><u>Effect of Section 409A of the
                Internal Revenue Code</u>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">To the
              extent a Change in Control qualifies as a &#8220;change in control&#8221; for purposes of Section 409A of the Internal Revenue Code, the parties intend that any payments made or benefits received pursuant to this Section 4, or otherwise received by
              Employee, shall be exempt from, or comply with, Section 409A of the Internal Revenue Code and all Treasury Regulations and guidance promulgated thereunder (&#8220;</font><font style="font-weight: bold; color: #000000;">Section 409A</font><font style="color: #000000;">&#8221;). To the maximum extent permitted, this Agreement shall be limited, construed and interpreted in accordance with such intent. In no event whatsoever shall Bank, Holding Company, any Affiliates, and/or their
              respective officers, directors, employees or agents be liable for any additional tax, interest or penalties that may be imposed on Employee by Section 409A or damages for failing to comply with Section 409A.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding any
            other provision of this Agreement to the contrary, if at the time of Employee&#8217;s separation from service (as defined in Section 409A) Employee is a &#8220;Specified Employee&#8221; within the meaning and in accordance with Treasury Regulation Section</font></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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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">1.409A-1(i), then Bank will defer the payment or commencement of any nonqualified deferred compensation subject to
          Section 409A payable upon separation from service (without any reduction in such payments or benefits ultimately paid or provided to Employee) until the date that is six (6) months following separation from service or, if earlier, the earliest
          other date as is permitted under Section 409A. Any amounts that otherwise would have been paid during this deferral period will be paid in a lump sum on the day after the expiration of the six (6) month period or such shorter period, if
          applicable.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118236"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Termination for Cause</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Definition of &#8220;Cause&#8221;</u></font>.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Cause</font>&#8221; is defined as any of
          the following actions:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">An
              intentional act of fraud, embezzlement, theft, or personal dishonesty; willful misconduct, or breach of fiduciary duty involving personal profit by Employee in the course of Employee&#8217;s employment; </font><font style="font-style: italic; color: #000000;">provided, however, </font><font style="color: #000000;">that (A) no act or failure to act will be deemed to have been intentional or willful if it was due primarily to an error in judgment or negligence; and (B) an act or
              failure to act will only be considered intentional or willful if it is not in good faith and if it is without a reasonable belief that the action or failure to act is in the best interest of Bank or Holding Company;</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Intentional damage
            by Employee to the business or property of Bank or Holding Company, causing material harm to Bank or Holding Company;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Material breach by
            Employee of any provision of this Agreement or any employment agreement the Employee is a party to;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Gross negligence or
            insubordination by Employee in the performance of Employee&#8217;s duties, or the Employee&#8217;s refusal or repeated failure to carry out lawful directives of the Board of Directors of Bank or Holding Company or of any other supervisor; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Removal or permanent
            prohibition of Employee from participating in the conduct of the affairs of Bank or Holding Company by an order issued under subsection 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12&#160;USC&#160;&#167;&#167;&#160;1818(e)(4) and (g)(1).</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Procedure for a Termination for Cause</u></font>.&#160; Bank, upon written notice to Employee, may terminate Employee&#8217;s employment for Cause,
          which will terminate Employee&#8217;s employment and right to compensation immediately, except in the limited case expressly provided herein with respect to Causes that are curable. The written notice will (i) indicate the specific provisions of this
          Agreement relied upon for such termination; (ii) set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination; (iii) state whether the Board of Directors of Bank has determined in good faith that the
          issue is curable; and (iv) if the issue has been deemed curable, describe the steps, actions, events or other items that must be taken, completed or followed by Employee to correct or cure the basis for such termination. If (but only if) the
          basis for termination has been deemed curable by the Board of Directors, then Employee will have thirty (30) days following the effective date of such notice to fully correct and cure the basis for the termination of Employee&#8217;s employment. If
          Employee does not fully correct and cure the basis for the termination of Employee&#8217;s employment within such 30-day period, then Bank will have the right to terminate Employee&#8217;s employment with Bank immediately for Cause upon delivering to
          Employee a second written notice</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;">6</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">of termination and without any further cure period. Unless otherwise specified in the written notice, the date of termination shall be the date of the
          first written notice, in the case of an uncurable Cause, and shall be the date of the second written notice, in the case of a curable but uncured Cause.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Effect on Other Written Agreements</u></font>.&#160; Bank intends the provisions of this Section 5 relating to a termination for Cause to be
          consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Cause, the provisions of this Agreement shall prevail in all cases following a Change in Control.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118215"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Termination for Good Reason</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Definition of &#8220;Good Reason&#8221;</u></font>.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Good Reason</font>&#8221; is defined
          as the occurrence of any of the following events:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The requirement that
            Employee move Employee&#8217;s office to a location more than thirty (30) miles from Employee&#8217;s principal residence as of the Effective Date;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A reduction in
            Employee&#8217;s then-current annual base salary;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The removal of
            Employee from participation in any incentive compensation or performance-based compensation plans without replacement with a comparable or superior substitute plan or otherwise compensating Employee in an amount substantially equivalent to the
            value of the lost benefit;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M75"></a><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The taking of any action by Bank or Holding Company which would directly or indirectly reduce any material benefit plan or program or deprive Employee of any such benefit enjoyed by Employee;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M76"></a><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The assignment to Employee of duties and responsibilities materially different from those normally associated with Employee&#8217;s position;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M77"></a><a name="z_DV_M78"></a><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A material diminution or reduction in Employee&#8217;s duties, responsibilities or authority (including reporting responsibilities) normally associated with Employee&#8217;s position;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any action by Bank
            to remove Employee from Employee&#8217;s then-current officer position or materially change Employee&#8217;s title, except for promotions;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M79"></a><font style="font-size: 12pt; color: #010000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A material breach by Bank of any provision of this Agreement, other than a breach justifying termination pursuant to any other provision of this Agreement; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">To the extent such
            assumption does not occur as a matter of law, any failure of Bank or Holding Company to obtain the assumption of the obligation to perform this Agreement by any successor, including upon a Change in Control.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Procedure for a Termination for Good Reason</u></font>.&#160; Employee, by written notice to Bank, may terminate Employee&#8217;s employment with
          Bank for Good Reason. For Employee to have the right to resign for Good Reason, all of the following must timely occur: (i) Employee must provide Bank with written notice of the occurrence of any of the Good Reason events within ninety (90) days</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;">7</font></div>
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        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">immediately following the first occurrence of such event, and such notice must describe in detail the Good Reason event and the proposed cure to such
          event; (ii) Bank must fail to cure such event within a period of thirty (30) days from the date of receipt of such notice; and (iii) a second written notice of termination is delivered by Employee to Bank within ninety (90) days following the day
          on which the 30-day period set forth in the preceding clause (ii) expires. Unless otherwise specified in the second written notice, the date of termination shall be the date of the second written notice.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect on Other Written Agreements</u></font>.&#160; Bank intends the provisions of this Section 6 relating to a termination for Good Reason to
          be consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Good Reason, the provisions of this Agreement shall prevail in all cases following a Change in Control.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19198625"></a><a name="z_Ref461026370"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Terminations for Other Reasons</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination by Bank without Cause</u></font>.&#160; Upon thirty (30) days&#8217; written notice to Employee, Bank may terminate Employee&#8217;s employment
          without Cause.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Termination by Employee without Good Reason</u></font>.&#160; Employee, upon sixty (60) days&#8217; written notice to Bank, may terminate Employee&#8217;s
          employment without Good Reason.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026165"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Disclosure; Return of Confidential Information and Other Property</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Access to Confidential Information</u></font>.&#160; Employee understands, acknowledges and agrees that during the course of Employee&#8217;s
          employment with Bank, Employee will gain information regarding, knowledge of and familiarity with the Confidential Information (as hereinafter defined) of Bank and its Affiliates and that if the Confidential Information was disclosed by Employee,
          Bank or any Affiliates would suffer irreparable damage and harm. Employee understands, acknowledges and agrees that the Confidential Information derives substantial economic value from, among other reasons, not being known or readily
          ascertainable by proper means by others who could obtain economic value therefrom upon disclosure. Employee acknowledges and agrees that Bank and all Affiliates use reasonable means to maintain the secrecy and confidentiality of the Confidential
          Information. For purposes of this Agreement, the term &#8220;Affiliate&#8221; means Holding Company and all subsidiaries of Holding Company and its subsidiaries.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Non-Disclosure</u></font>.&#160; At all times while Employee is employed by Bank, and at all times thereafter, Employee shall not (i) directly
          or indirectly disclose, provide or discuss any Confidential Information with or to any Person (as hereinafter defined) other than those directors, officers, employees, representatives and agents of Bank and any Affiliates who need to know such
          Confidential Information for a proper corporate purpose, and (ii) directly or indirectly use any Confidential Information (A) to compete against Bank or any Affiliates, or (B) for Employee&#8217;s own benefit or for the benefit of any Person other than
          Bank or any Affiliate. Employee agrees that all Confidential Information at all times shall remain the property of, as applicable, Bank or its Affiliates.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Confidential Information Defined</u></font>.&#160; For purposes of this Agreement, the term &#8220;Confidential Information&#8221; means any and all:</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;">8</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">materials, records,
            data, documents, lists, writings and information (whether in writing, printed, verbal, electronic, computerized, on disk or otherwise) (A) relating or referring in any manner to the business, operations, affairs, financial condition, results of
            operation, cash flow, assets, liabilities, sales, revenues, income, estimates, projections, policies, strategies, techniques, methods, products, developments, suppliers, relationships and/or customers of Bank or any Affiliate that are
            confidential, proprietary or not otherwise publicly available, in any event not without a breach of this Agreement, or (B) that Bank or any Affiliate has deemed confidential, proprietary or nonpublic;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">trade secrets of
            Bank or any Affiliate, as defined in Indiana Code Section 24&#8209;2&#8209;3&#8209;2, as amended, or any successor statute; and</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">any and all
            copies, summaries, analyses and extracts which relate or refer to or reflect any of the items set forth in (i) or (ii) above.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(d)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Definition of Person</u></font>.&#160; For purposes of this Agreement, the term &#8220;Person&#8221; shall mean any natural person, proprietorship,
          partnership, corporation, limited liability company, bank, organization, firm, business, joint venture, association, trust or other entity and any government agency, body or authority.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(e)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Return of Confidential Information and Other Property</u></font>.&#160; Employee covenants and agrees:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">to keep all
            Confidential Information subject to Bank&#8217;s or any Affiliate&#8217;s custody and control and to promptly return to Bank or the appropriate Affiliate all Confidential Information that is still in Employee&#8217;s possession or control at the termination of
            Employee&#8217;s employment with Bank; and</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">promptly upon
            termination of Employee&#8217;s employment with Bank, to return to Bank, at Bank&#8217;s principal office, all vehicles, equipment, computers, credit cards and other property of Bank and to cease using any of the foregoing.</font></div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026178"></a><a name="z_Ref19118334"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Solicitation of Customers and Employees</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Obligations of Employee</u></font>.&#160; During the Term, and for <font style="font-weight: bold;">two (2) years </font>thereafter,
          Employee will not in a competitive capacity (as defined in Section 10), on behalf of any person or entity other than Bank or any Affiliate, directly or indirectly:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one year preceding
            Employee&#8217;s separation,</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert
            (or attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate about whom Employee obtained Confidential Information;</font></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;">9</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>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one
            year preceding Employee&#8217;s separation,</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate about whom Employee has obtained confidential or proprietary information;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">encourage,
            solicit, induce, or attempt to encourage, solicit or induce any employee, service provider, agent or representative of Bank or any Affiliate, who (a) has access to, or possesses, Confidential Information, trade secrets, or other knowledge
            regarding the Bank or any Affiliate that could give a competitor an unfair advantage, or (b) within the preceding two years, has serviced or established goodwill with the Bank&#8217;s customers or acquired confidential information about those
            customers, or (c) was someone Employee had worked with, or supervised in Employee&#8217;s last two-years of employment (hereafter defined as an &#8220;Individual&#8221;), to leave his/her employment or terminate his/her relationship with Bank or any Affiliate or
            devote less than full time efforts to Bank&#8217;s or an Affiliate&#8217;s business; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">hire
              or attempt to hire, for any competitive or other position with any competitor or other business, any Individual&#160; who has been an employee of Bank or any Affiliate at any time within the preceding one year; </font><font style="font-style: italic; color: #000000;">provided, however, </font><font style="color: #000000;">that Employee shall not be deemed to have violated this Section if an employee responds to a general advertisement for employment with the competitor.</font></font></div>
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        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118294"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 10.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Competition</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>During Employment</u></font>.&#160; During Employee&#8217;s employment, Employee shall not, directly or indirectly, have any ownership interest in,
          work for, advise, manage, act as an agent or consultant for, or have any business connection or business or employment relationship with, any entity or person which competes with Bank or any of its Affiliates.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Following Termination of Employment</u></font>.&#160; For a period of <font style="font-weight: bold;">two (2) years </font>after Employee&#8217;s
          separation from Bank for any reason, Employee shall not:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in the states of
            Indiana and/or Michigan;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in any Indiana
            county or Michigan county in which Bank maintains a branch or other office;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in any Indiana
            county or Michigan county in which customers of Bank reside or maintain a facility;</font></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;">10</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in the geographic
            area in which Employee has been performing services on behalf of Bank, or for which Employee has been assigned responsibility, at any time within one (1) year preceding Employee&#8217;s separation;</font></div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">directly or indirectly own, manage, finance, operate, control or participate in ownership, management, or operation of, act as an agent, consultant, or be
          employed in a Competitive Capacity with, any banking or financial institution which competes with Bank or any of its Affiliates. Employee further agrees that during that same period, Employee will not assist in the research and development of
          products or services (A) where such research and development would be aided by the Confidential Information learned in the course of Employee&#8217;s relationship with Bank; or (B) which compete with those products or services of Bank or any Affiliate.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Definition of &#8220;Competitive Capacity&#8221;</u></font>.&#160; For purposes of this Agreement, the term &#8220;<font style="font-weight: bold;">Competitive
            Capacity</font>&#8221; shall mean (i) performing tasks or duties similar to those Employee performed at Bank or any Affiliate for a competitor of Bank; (ii) managing/supervising those who, for a competitor of Bank, perform tasks or duties similar to
          those which Employee performed at Bank; or (iii) performing, on behalf of a competitor of Bank, tasks or duties in which Employee utilized any Confidential Information that Employee learned in the course of Employee&#8217;s relationship with Bank or
          any Affiliate.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118951"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 11.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Periods of Noncompliance and Reasonableness of Periods</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Acknowledgment</u></font>.&#160; Bank and Employee understand, acknowledge and agree that the restrictions and covenants contained in Sections
          8, 9 and 10 hereof are reasonable in view of the nature of the business in which Bank and the Affiliates are engaged, Employee&#8217;s position with Bank and the Affiliates and Employee&#8217;s advantageous knowledge of and familiarity with the business,
          operations, affairs and customers of Bank and the Affiliates. Employee acknowledges that the various covenants, restrictions and obligations set forth in those Sections are separate and independent obligations, and may be enforced separately or
          in any combination.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Effect of Employee Breach</u></font>.&#160; The time periods during which the restrictions and covenants of Sections 8, 9 and 10 are
          applicable will be extended by a period of time equal to any period during which Employee is not in compliance with such restrictions and covenants. Bank&#8217;s obligation to pay the amounts otherwise payable to Employee pursuant to this Agreement
          shall immediately terminate in the event that Employee breaches any of the provisions of Sections 8, 9 and 10 hereof. Notwithstanding the foregoing, (i) the covenants of Employee set forth in Sections 8, 9 and 10 hereof shall continue in full
          force and effect and be binding upon Employee; (ii) Bank shall be entitled to the remedies specified in Section 13 hereof; and (iii) Bank shall be entitled to its damages, costs and expenses (including, without limitation, reasonable attorney&#8217;s
          fees and expenses) resulting from or relating to Employee&#8217;s breach of any of the provisions of Sections Section 8, 9 or 10 hereof.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Effect of Bank Breach</u></font>.&#160; Bank and Employee understand, acknowledge and agree that Employee&#8217;s entitlement to special severance
          benefits upon a Qualifying Termination following a Change in Control, and the other provisions benefiting Employee under this Agreement, are a material part of the consideration for the restrictions contained in Sections 8, 9 and 10 of this
          Agreement. Accordingly, if Bank breaches any of its material obligations to Employee that arise following termination of Employee for any reason, and the breach is not cured within thirty (30) days of written</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;">11</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 4.5pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">notice of the breach, then Employee&#8217;s obligations under Sections 8, 9 and 10 of this Agreement shall be suspended.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026651"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 12.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Survival of Certain Provisions</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Employee hereby expressly agrees that upon any termination of the Term of this Agreement due to Employee&#8217;s termination of employment
          with Bank or otherwise, the provisions of Sections 8 - 24 hereof shall continue to be in full force and effect and binding upon Employee in accordance with the respective provisions of such Sections (except in the case of Bank breach as described
          in Section 11).</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026567"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 13.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Remedies</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Employee agrees that Bank or an Affiliate will suffer irreparable damage and injury and will not have an adequate remedy at law in the
          event of any actual, threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10. Accordingly, in the event of a breach or a threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10, in addition to
          all other remedies to which Bank and Affiliates are entitled at law, in equity or otherwise, Bank and Affiliates may be entitled to a temporary restraining order and a permanent injunction or a decree of specific performance of any provision of
          Sections 8, 9 or 10. The foregoing remedies shall not be deemed to be the exclusive rights or remedies of Bank or an Affiliate for any breach of or noncompliance with this Agreement by Employee but shall be in addition to all other rights and
          remedies available to Bank or an Affiliate at law, in equity or otherwise.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118048"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Section&#160;280G</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Anything in this Agreement to the contrary notwithstanding, in the event Bank&#8217;s independent public accountants or counsel determine that
          any payment by Bank to or for the benefit of Employee, whether paid or payable pursuant to the terms of this Agreement or otherwise, would be non-deductible by Bank for federal income tax purposes because of Section&#160;280G of the Internal Revenue
          Code, the amount payable to or for the benefit of Employee pursuant to this Agreement and all other arrangements shall be reduced (but not below zero) in a manner determined by Holding Company to the Reduced Amount. For purposes of this Section
          14, the &#8220;<font style="font-weight: bold;">Reduced Amount</font>&#8221; shall be the amount which maximizes the amount payable without causing the payment to be non-deductible by Bank because of Section&#160;280G. If two economically equivalent amounts are
          subject to reduction but are payable at different times, the amounts shall be reduced (but not below zero) on a pro rata basis.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 15.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Successors and Assigns</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement is binding upon and shall be for the benefit of the successors and assigns of Bank and Holding Company, including any
          corporation or any other form of business organization with which Bank or Holding Company may merge or consolidate, or to which it may transfer substantially all of its assets. Bank or Holding Company shall require any successor to expressly
          assume and agree, in writing, to perform this Agreement and any successor shall absolutely and unconditionally assume all of Bank&#8217;s and Holding Company&#8217;s obligations hereunder. Failure of Bank or Holding Company to obtain such agreement prior to
          the effectiveness of any such succession shall be a material breach of this Agreement and shall entitle Employee to terminate employment with Bank for Good Reason pursuant to Section 6 of this Agreement. As used in this Agreement, &#8220;Bank&#8221; shall
          mean Bank as hereinbefore defined and any successor to its business and/or assets. This Agreement may not be assigned by Bank or Holding Company without the prior written consent of Employee,</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;">12</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">which consent shall not be unreasonably withheld. The Agreement will also be binding upon, enforceable against, and inure to the benefit of Employee and
          Employee&#8217;s heirs and representatives, and nothing herein is intended to confer any right, remedy or benefit upon any other person. Employee shall not assign Employee&#8217;s interest in this Agreement or any part thereof.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 16.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Consent of Bank</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Any act, request, approval, consent or opinion of Bank under this Agreement, must be in writing and may be authorized, given or
          expressed only by Bank&#8217;s President or Chief Executive Officer, or by such other person as the Bank&#8217;s Board of Directors may designate.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 17.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Notices</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">All notices, requests and other communications under this Agreement will be in writing (which will include facsimile communication) and
          will be deemed to have been duly given if (a) delivered by hand; (b) sent by certified United States Mail, return receipt requested, first class postage pre-paid; (c) sent by overnight delivery service; or (d) sent by facsimile transmission if
          such fax is confirmed immediately thereafter by also mailing a copy of such notice, request or other communication by regular United States Mail, first class postage pre-paid, as follows:</div>
        <div style="line-height: 13.7pt; margin-bottom: 12pt;"><br style="line-height: 13.7pt;">
        </div>
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            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">(A)</div>
              </td>
              <td style="width: 15%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">If to Employee:</div>
              </td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Craig M. Dwight</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt; font-style: italic; font-weight: bold;">[redacted for privacy]</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">(B)</div>
              </td>
              <td style="width: 15%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">If to Bank:</div>
              </td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Horizon Bank</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">515 Franklin Street</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Michigan City, IN 46360</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Attn:&#160; Chief Executive Officer</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 18.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Governing Law</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement shall be governed by and construed in accordance with the laws of the State of Indiana applicable to contracts made and
          to be performed therein.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 19.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Enforcement Expenses</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">If a dispute arises regarding the termination of Employee or as to the interpretation or enforcement of this Agreement and Employee
          obtains a final judgment in Employee&#8217;s favor in a court of competent jurisdiction or Employee&#8217;s claim is settled by Bank prior to the rendering of a judgment by such a court, all reasonable legal fees and expenses incurred by Employee in
          contesting or disputing any such termination or seeking to obtain or enforce any right or benefit provided for in this Agreement or otherwise pursuing Employee&#8217;s claims shall be paid by Bank (except as otherwise decided in any settlement between
          the parties) to the extent permitted by law.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 20.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Superseding Prior Agreements; Entire Agreement</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The Employee, Bank and Holding Company agree that as long as the provisions of Sections 8, 9 and 10 are in effect, those provisions
          shall supersede and replace any similar restrictions in any other agreement between the parties, including, but not limited to, any employment agreement,</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;">13</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">non&#8209;competition or non-solicitation agreement, and any equity award agreement or plan relating thereto. This Agreement sets forth the entire understanding
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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>hb_8k123119ex102.htm
<DESCRIPTION>CHANGE IN CONTROL AGREEMENT (JAMES D. NEFF)
<TEXT>
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      <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.2</font><br>
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      <div> <br>
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      <div>&#160;
        <div style="text-align: center; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">HORIZON BANK<br>
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          <br>
          CHANGE IN CONTROL AGREEMENT</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">This Change in Control Agreement</font> (&#8220;<font style="font-weight: bold;">Agreement</font>&#8221;),
          dated and effective as of January 1, 2020 (the &#8220;<font style="font-weight: bold;">Effective Date</font>&#8221;), is entered into between <font style="font-variant: small-caps;">Horizon Bank</font> (&#8220;<font style="font-weight: bold;">Bank</font>&#8221;), an
          Indiana state bank, and<font style="font-variant: small-caps;">&#160;</font><font style="font-weight: bold; font-variant: small-caps;">James D. Neff</font><font style="font-variant: small-caps;">&#160;</font>(&#8220;<font style="font-weight: bold;">Employee</font>&#8221;),
          a resident of the State of <font style="font-weight: bold;">Indiana</font>.</div>
        <div style="text-align: center; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold;">WITNESSETH</font>:</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, Bank is a subsidiary of Horizon Bancorp, Inc. (&#8220;<font style="font-weight: bold;">Holding Company</font>&#8221;), a corporation formed under the laws of the State of Indiana;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, Executive currently serves as an employee of the Bank, either
          as an employee-at-will or pursuant to a written employment agreement;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, the Board of Directors of the Bank (&#8220;<font style="font-weight: bold;">Board</font>&#8221;) has determined that it is in the best interests of the Bank and the Holding Company to assure that the Bank will have the continued dedication and objectivity of Employee, notwithstanding the possibility, threat or
          occurrence of a Change in Control (as defined herein) of the Bank or the Holding Company; and</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, the Board believes that it is in the best interests of the
          Bank and the Holding Company to provide Employee with certain severance benefits following a Change in Control in order to provide Employee with enhanced financial security, to allow the Bank to remain competitive with peers, and to incentivize
          and encourage Employee to remain with the Bank notwithstanding the possibility of a Change in Control.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Now, Therefore</font>, in consideration of the mutual promises herein
          contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Term</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The term of this Agreement shall begin on the Effective Date and, except as otherwise expressly provided herein, automatically terminate
          immediately upon the termination of Employee&#8217;s employment, for any reason, prior to a Change in Control. In the event Employee is still employed by Bank at the time of a Change in Control, then the term shall continue for one (1) year following
          consummation of the Change in Control. Notwithstanding the foregoing, the provisions of Sections 8 &#8211; 24 of this Agreement shall survive any termination of the Term, as provided in Section 12 of this Agreement.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">At-Will Employment</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Unless Employee is a party to a separate written employment agreement with Bank or Holding Company, nothing in this Agreement shall be
          deemed to entitle Employee to continued employment with Bank or any affiliated companies. Employee acknowledges that unless Employee is subject to a separate written employment agreement that provides otherwise, Employee is an at-will employee,
          meaning that either Employee or Bank can terminate the employment relationship at any time, with or without Cause (as defined herein), and that this Agreement shall not change or affect Employee&#8217;s at-will status. If Employee&#8217;s employment with
          Bank terminates prior to a Change in Control, Employee shall have no further rights under this Agreement, except as otherwise provided herein.</div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Change in Control</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Definition</u></font>.&#160; For purposes of this Agreement, a &#8220;<font style="font-weight: bold;">Change in Control</font>&#8221; shall be deemed to
          have occurred if the conditions or events set forth in any one or more of the following subsections occur:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any merger,
            consolidation or similar transaction which involves Bank or Holding Company and in which persons who are the shareholders of Bank or Holding Company immediately prior to the transaction own, immediately after the transaction, shares of the
            surviving or combined entity which possess voting rights equal to or less than 50 percent of the voting rights of all shareholders of such entity, determined on a fully diluted basis;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any sale, lease,
            exchange, transfer or other disposition of all or substantially all of the consolidated assets of Bank or Holding Company;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any tender,
            exchange, sale or other disposition (other than disposition of the stock of Holding Company or Bank in connection with bankruptcy, insolvency, foreclosure, receivership or other similar transactions) or purchase (other than purchases by Holding
            Company or any Holding Company or Bank-sponsored employee benefit plan, or purchases by members of the board of directors of Holding Company or Bank) of shares which represent more than 25 percent of the voting power of Holding Company or Bank;
            or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">During any period
            of two consecutive years, individuals who at the date of this Agreement constitute the board of directors of Holding Company cease for any reason to constitute at least a majority thereof, unless the election of each director at the beginning
            of the period has been approved by directors representing at least a majority of the directors then in office.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Exceptions</u></font>.&#160; Notwithstanding the provisions of Section 3(a), a Change in Control shall not be deemed to have occurred:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">As a result of the
            issuance of stock by the Holding Company in connection with any public offering of its stock;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">With respect to
            stock ownership by the Horizon Bancorp Employee Stock Ownership Plan Trust (which forms a part of the Horizon Bancorp Employees&#8217; Stock Ownership Plan), the Horizon Bancorp Employee&#8217;s Thrift Plan Trust (which forms a part of the Horizon Bancorp
            Employee&#8217;s Thrift Plan), or any other employee benefit plan; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">With
              respect to any payment or benefit provided under the Agreement to which Section&#160;409A of the Internal Revenue Code of 1986, as amended (the &#8220;</font><font style="font-weight: bold; color: #000000;">Internal Revenue Code</font><font style="color: #000000;">&#8221;), is applicable and for which a change in control event is required, unless the event related to such payment or benefit constitutes a &#8220;change in control&#8221; for purposes of Section&#160;409A.</font></font></div>
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        </div>
        <div style="line-height: 13.7pt;"><a name="z_Ref19116499"></a><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Double-Trigger Severance Benefits in Connection with a Change in Control and a Qualifying Termination</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination Period</u></font>.&#160; In connection with a Change in Control, Employee will be entitled to the severance benefits set forth in
          this Section 4 if during the six (6) month period prior to a Change in Control or during the one (1) year period following consummation of a Change in Control, either of the following two qualifying terminations occurs: (i) Bank terminates
          Employee&#8217;s employment for any reason other than for Cause (as hereafter defined); or (ii) Employee resigns for Good Reason (as hereafter defined) in accordance with the provisions of Section 6; (each of the terminations described in (i) and (ii)
          hereof shall be referred to as a &#8220;<font style="font-weight: bold;">Qualifying Termination</font>&#8221;).</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>&#160;</u><font style="font-size: 12pt;"><font style="color: #000000;"><u>Conditions
                  to Receipt of Severance Benefits</u>.&#160; Employee&#8217;s entitlement to the severance payments set forth in this Section 4 shall be contingent upon Employee&#8217;s execution (and non-revocation) of a release of claims relating to Employee&#8217;s
              employment by the Bank, Holding Company, and/or any of their Affiliates in favor of such parties in a form reasonably acceptable to, and provided by, Bank (the &#8220;</font><font style="font-weight: bold; color: #000000;">Release</font><font style="color: #000000;">&#8221;). Bank will set a deadline for return of the Release that will be no later than sixty (60) days following the later of the Employee&#8217;s Qualifying Termination or Change in Control, as applicable, and the Release must
              remain unrevoked during any revocation period. No severance benefits shall be paid to Employee under this Agreement if the Release is not executed by Employee and returned to Bank by such deadline. In addition, Employee must be and remain in
              compliance with the provisions of Sections 8 &#8211; 10 of this Agreement.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font>Severance
                Benefits Provided</u></font>.&#160; Upon a Qualifying Termination and subject to Employee&#8217;s compliance with Sections 8 - 10 hereof and Employee&#8217;s timely execution and delivery of the Release, Bank will pay or provide to Employee the
          following amounts and benefits:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">That portion of
            Employee&#8217;s base salary earned through the date of termination, payable in accordance with normal payroll practices commencing as of the first payroll period following Employee&#8217;s return of the executed Release and the lapse of all applicable
            revocation periods, or as soon as administratively practicable thereafter;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">A
              lump sum amount equal to </font><font style="font-weight: bold; color: #000000;">2.99 times</font><font style="color: #000000;"> Employee&#8217;s annual base salary in effect as of the date immediately preceding the date of termination plus a
              single sum payment equal to the average of the Employee&#8217;s total cash bonuses paid or payable for the last two calendar years preceding the date of termination multiplied by a factor of </font><font style="font-weight: bold; color: #000000;">2.00,</font><font style="color: #000000;"> all payable as of the date of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively practicable thereafter;</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">Continued
              participation in the group health insurance and group life insurance benefits which Employee was eligible to participate in or receive on the day prior to the date of termination (&#8220;</font><font style="font-weight: bold; color: #000000;">Insurance

              Programs</font><font style="color: #000000;">&#8221;), beginning on the date of termination and continuing for a period of </font><font style="font-weight: bold; color: #000000;">twenty-four months</font><font style="color: #000000;"> (&#8220;</font><font style="font-weight: bold; color: #000000;">Benefit Continuation Term</font><font style="color: #000000;">&#8221;), but only to the extent Employee continues to qualify for participation therein and takes all actions required in connection with such
              participation (including participation through Employee&#8217;s timely election of COBRA continuation coverage). If Employee is not permitted to continue participation in those Insurance Programs for any portion of the Benefit Continuation Term,
              Bank will reimburse Employee for the cost of health insurance and life insurance benefits for the Benefit Continuation Term, subject to the Employee timely providing evidence of</font></font></div>
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        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">payment for such benefits; <font style="font-style: italic;">provided, however</font>, the amount of these benefits
          will be limited to an amount equal to 110% of Bank&#8217;s cost of providing comparable benefits under the Insurance Programs and provided that Employee shall receive the entire amount payable under this Section 4(c)(iii) no later than the end of the
          second calendar year following the Qualifying Termination;</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">All amounts that
            have vested or accrued prior to or on the date of termination (or otherwise are or become payable to Employee) under all incentive compensation or other qualified and non-qualified employee benefit plans of the Holding Company or Bank in
            accordance with the provisions of such plans and past practices of Holding Company or Bank, including without limitation, any Bank contributions or matches related to those amounts. For purposes of clarification, the intent of this Section is
            for Employee to receive all amounts attributable to Employee&#8217;s participation in such plans, as now or hereafter existing, up to and including the date of termination, regardless of whether the amounts are historically deposited or credited to
            individual employee accounts or subject to Board of Director approval on a date beyond the date of termination, and Bank agrees to compute and pay, deposit or credit all such amounts as soon as possible after the date of termination if not
            capable of being calculated, paid, deposited or credited prior to the date of termination;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">An amount equal to
            the partial year bonus which Employee would have earned based on the then-current bonus plan of the Bank in the year a Change in Control occurred, as measured through the effective date of a Change in Control based on the then-current financial
            results, determined by the Bank in its discretion, payable as of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively practicable thereafter;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding the
            foregoing, all options granted to Employee to purchase shares of common stock of the Holding Company and all performance shares and shares of restricted stock of the Holding Company (whether such options, performance shares and restricted
            shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and Employee.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(d)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Suspension and Termination of Severance Benefits</u></font>.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">If
              Employee is removed and/or permanently prohibited from participating in the conduct of the Bank&#8217;s affairs by an order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (&#8220;</font><font style="font-weight: bold; color: #000000;">FDIA</font><font style="color: #000000;">&#8221;) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of Bank and Holding Company under this Agreement shall terminate as of the effective date of the order, but vested rights of the
              parties shall not be affected.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">If the Bank is in
            default (as defined in Section 3(x)(1) of FDIA), all obligations of Bank and Holding Company under this Agreement shall terminate as of the date of default; however, this subsection shall not affect the vested rights of the parties.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">All
              obligations of Bank and Holding Company under this Agreement shall terminate, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (A) by the Indiana Department of Financial
              Institutions (the &#8220;</font><font style="font-weight: bold; color: #000000;">DFI</font><font style="color: #000000;">&#8221;) or its designee, or the Bank&#8217;s primary federal regulator at the time</font></font></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;">4</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">that the Federal Deposit Insurance Corporation (&#8220;<font style="font-weight: bold;">FDIC</font>&#8221;) enters into an agreement
          to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of FDIA; or (B) by the DFI, or its designee, or the Bank&#8217;s primary federal regulator, at the time that the DFI, or its designee, or the Bank&#8217;s
          primary federal regulator, approves a supervisory merger to resolve problems related to the operation of the Bank or when the Bank is determined by the DFI, or the Bank&#8217;s primary federal regulator, to be in an unsafe or unsound condition. Any
          such action shall not affect any vested rights of the parties.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">If a notice served
            under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) or (g)(1)) suspends and/or temporarily prohibits Employee from participating in the conduct of the Bank&#8217;s affairs, Bank&#8217;s and Holding Company&#8217;s obligations under this Agreement
            shall be suspended as of the effective date of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Bank shall (A) pay Employee all or part of the compensation withheld while its contract
            obligations were suspended, and/or (B) reinstate (in whole or in part) any of its obligations which were suspended.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding
            anything to the contrary contained herein, Employee acknowledges and agrees that any payments made to Employee pursuant to this Agreement, or otherwise, are subject to and conditioned upon compliance with the provisions of 12 U.S.C. 1828(k) and
            Part 359 of the FDIC&#8217;s regulations (12 C.F.R. Part 359), which provisions contain certain prohibitions and limitations on making &#8220;golden parachute&#8221; and certain indemnification payments by FDIC-insured institutions and their holding companies.
            In the event any payments to Employee pursuant to this Agreement are prohibited or limited by the provisions of such statute and/or regulations, Bank and/or Holding Company (A) shall pay the maximum amount that may be paid after applying such
            limitations; and (B) will use commercially reasonable efforts to obtain the consent of the appropriate regulatory authorities to the payment of any amount that otherwise cannot be paid due to the application of such limitations. Employee agrees
            that Bank and/or Holding Company shall not have breached any obligations under this Agreement if they are unable to pay all or some portion of any payment due to Employee as a result of the application of these limitations.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>&#160;</u><font style="color: #000000; font-size: 12pt;"><u>Effect of
                Section 409A of the Internal Revenue Code</u>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">To the
              extent a Change in Control qualifies as a &#8220;change in control&#8221; for purposes of Section 409A of the Internal Revenue Code, the parties intend that any payments made or benefits received pursuant to this Section 4, or otherwise received by
              Employee, shall be exempt from, or comply with, Section 409A of the Internal Revenue Code and all Treasury Regulations and guidance promulgated thereunder (&#8220;</font><font style="font-weight: bold; color: #000000;">Section 409A</font><font style="color: #000000;">&#8221;). To the maximum extent permitted, this Agreement shall be limited, construed and interpreted in accordance with such intent. In no event whatsoever shall Bank, Holding Company, any Affiliates, and/or their
              respective officers, directors, employees or agents be liable for any additional tax, interest or penalties that may be imposed on Employee by Section 409A or damages for failing to comply with Section 409A.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding any
            other provision of this Agreement to the contrary, if at the time of Employee&#8217;s separation from service (as defined in Section 409A) Employee is a &#8220;Specified Employee&#8221; within the meaning and in accordance with Treasury Regulation Section</font></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>
          <div style="page-break-after:always;" id="DSPFPageBreak">
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">1.409A-1(i), then Bank will defer the payment or commencement of any nonqualified deferred compensation subject to
          Section 409A payable upon separation from service (without any reduction in such payments or benefits ultimately paid or provided to Employee) until the date that is six (6) months following separation from service or, if earlier, the earliest
          other date as is permitted under Section 409A. Any amounts that otherwise would have been paid during this deferral period will be paid in a lump sum on the day after the expiration of the six (6) month period or such shorter period, if
          applicable.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118236"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Termination for Cause</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Definition of &#8220;Cause&#8221;</u></font>.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Cause</font>&#8221; is defined as any of
          the following actions:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">An
              intentional act of fraud, embezzlement, theft, or personal dishonesty; willful misconduct, or breach of fiduciary duty involving personal profit by Employee in the course of Employee&#8217;s employment; </font><font style="font-style: italic; color: #000000;">provided, however, </font><font style="color: #000000;">that (A) no act or failure to act will be deemed to have been intentional or willful if it was due primarily to an error in judgment or negligence; and (B) an act or
              failure to act will only be considered intentional or willful if it is not in good faith and if it is without a reasonable belief that the action or failure to act is in the best interest of Bank or Holding Company;</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Intentional damage
            by Employee to the business or property of Bank or Holding Company, causing material harm to Bank or Holding Company;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Material breach by
            Employee of any provision of this Agreement or any employment agreement the Employee is a party to;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Gross negligence or
            insubordination by Employee in the performance of Employee&#8217;s duties, or the Employee&#8217;s refusal or repeated failure to carry out lawful directives of the Board of Directors of Bank or Holding Company or of any other supervisor; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Removal or permanent
            prohibition of Employee from participating in the conduct of the affairs of Bank or Holding Company by an order issued under subsection 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12&#160;USC&#160;&#167;&#167;&#160;1818(e)(4) and (g)(1).</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Procedure for a Termination for Cause</u></font>.&#160; Bank, upon written notice to Employee, may terminate Employee&#8217;s employment for Cause,
          which will terminate Employee&#8217;s employment and right to compensation immediately, except in the limited case expressly provided herein with respect to Causes that are curable. The written notice will (i) indicate the specific provisions of this
          Agreement relied upon for such termination; (ii) set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination; (iii) state whether the Board of Directors of Bank has determined in good faith that the
          issue is curable; and (iv) if the issue has been deemed curable, describe the steps, actions, events or other items that must be taken, completed or followed by Employee to correct or cure the basis for such termination. If (but only if) the
          basis for termination has been deemed curable by the Board of Directors, then Employee will have thirty (30) days following the effective date of such notice to fully correct and cure the basis for the termination of Employee&#8217;s employment. If
          Employee does not fully correct and cure the basis for the termination of Employee&#8217;s employment within such 30-day period, then Bank will have the right to terminate Employee&#8217;s employment with Bank immediately for Cause upon delivering to
          Employee a second written notice</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;">6</font></div>
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        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">of termination and without any further cure period. Unless otherwise specified in the written notice, the date of termination shall be the date of the
          first written notice, in the case of an uncurable Cause, and shall be the date of the second written notice, in the case of a curable but uncured Cause.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect on Other Written Agreements</u></font>.&#160; Bank intends the provisions of this Section 5 relating to a termination for Cause to be
          consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Cause, the provisions of this Agreement shall prevail in all cases following a Change in Control.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118215"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Termination for Good Reason</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Definition of &#8220;Good Reason&#8221;</u></font>.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Good Reason</font>&#8221; is defined
          as the occurrence of any of the following events:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The requirement that
            Employee move Employee&#8217;s office to a location more than thirty (30) miles from Employee&#8217;s principal residence as of the Effective Date;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A reduction in
            Employee&#8217;s then-current annual base salary;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The removal of
            Employee from participation in any incentive compensation or performance-based compensation plans without replacement with a comparable or superior substitute plan or otherwise compensating Employee in an amount substantially equivalent to the
            value of the lost benefit;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M75"></a><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The taking of any action by Bank or Holding Company which would directly or indirectly reduce any material benefit plan or program or deprive Employee of any such benefit enjoyed by Employee;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M76"></a><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The assignment to Employee of duties and responsibilities materially different from those normally associated with Employee&#8217;s position;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M77"></a><a name="z_DV_M78"></a><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A material diminution or reduction in Employee&#8217;s duties, responsibilities or authority (including reporting responsibilities) normally associated with Employee&#8217;s position;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any action by Bank
            to remove Employee from Employee&#8217;s then-current officer position or materially change Employee&#8217;s title, except for promotions;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M79"></a><font style="font-size: 12pt; color: #010000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A material breach by Bank of any provision of this Agreement, other than a breach justifying termination pursuant to any other provision of this Agreement; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">To the extent such
            assumption does not occur as a matter of law, any failure of Bank or Holding Company to obtain the assumption of the obligation to perform this Agreement by any successor, including upon a Change in Control.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Procedure for a Termination for Good Reason</u></font>.&#160; Employee, by written notice to Bank, may terminate Employee&#8217;s employment with
          Bank for Good Reason. For Employee to have the right to resign for Good Reason, all of the following must timely occur: (i) Employee must provide Bank with written notice of the occurrence of any of the Good Reason events within ninety (90) days</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;">7</font></div>
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        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">immediately following the first occurrence of such event, and such notice must describe in detail the Good Reason event and the proposed cure to such
          event; (ii) Bank must fail to cure such event within a period of thirty (30) days from the date of receipt of such notice; and (iii) a second written notice of termination is delivered by Employee to Bank within ninety (90) days following the day
          on which the 30-day period set forth in the preceding clause (ii) expires. Unless otherwise specified in the second written notice, the date of termination shall be the date of the second written notice.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Effect on Other Written Agreements</u></font>.&#160; Bank intends the provisions of this Section 6 relating to a termination for Good Reason
          to be consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Good Reason, the provisions of this Agreement shall prevail in all cases following a Change in Control.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19198625"></a><a name="z_Ref461026370"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Terminations for Other Reasons</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination by Bank without Cause</u></font>.&#160; Upon thirty (30) days&#8217; written notice to Employee, Bank may terminate Employee&#8217;s employment
          without Cause.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination by Employee without Good Reason</u></font>.&#160; Employee, upon sixty (60) days&#8217; written notice to Bank, may terminate Employee&#8217;s
          employment without Good Reason.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026165"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Disclosure; Return of Confidential Information and Other Property</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Access to Confidential Information</u></font>.&#160; Employee understands, acknowledges and agrees that during the course of Employee&#8217;s
          employment with Bank, Employee will gain information regarding, knowledge of and familiarity with the Confidential Information (as hereinafter defined) of Bank and its Affiliates and that if the Confidential Information was disclosed by Employee,
          Bank or any Affiliates would suffer irreparable damage and harm. Employee understands, acknowledges and agrees that the Confidential Information derives substantial economic value from, among other reasons, not being known or readily
          ascertainable by proper means by others who could obtain economic value therefrom upon disclosure. Employee acknowledges and agrees that Bank and all Affiliates use reasonable means to maintain the secrecy and confidentiality of the Confidential
          Information. For purposes of this Agreement, the term &#8220;Affiliate&#8221; means Holding Company and all subsidiaries of Holding Company and its subsidiaries.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Non-Disclosure</u></font>.&#160; At all times while Employee is employed by Bank, and at all times thereafter, Employee shall not (i) directly
          or indirectly disclose, provide or discuss any Confidential Information with or to any Person (as hereinafter defined) other than those directors, officers, employees, representatives and agents of Bank and any Affiliates who need to know such
          Confidential Information for a proper corporate purpose, and (ii) directly or indirectly use any Confidential Information (A) to compete against Bank or any Affiliates, or (B) for Employee&#8217;s own benefit or for the benefit of any Person other than
          Bank or any Affiliate. Employee agrees that all Confidential Information at all times shall remain the property of, as applicable, Bank or its Affiliates.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Confidential Information Defined</u></font>.&#160; For purposes of this Agreement, the term &#8220;Confidential Information&#8221; means any and all:</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;">8</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">materials, records,
            data, documents, lists, writings and information (whether in writing, printed, verbal, electronic, computerized, on disk or otherwise) (A) relating or referring in any manner to the business, operations, affairs, financial condition, results of
            operation, cash flow, assets, liabilities, sales, revenues, income, estimates, projections, policies, strategies, techniques, methods, products, developments, suppliers, relationships and/or customers of Bank or any Affiliate that are
            confidential, proprietary or not otherwise publicly available, in any event not without a breach of this Agreement, or (B) that Bank or any Affiliate has deemed confidential, proprietary or nonpublic;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">trade secrets of
            Bank or any Affiliate, as defined in Indiana Code Section 24&#8209;2&#8209;3&#8209;2, as amended, or any successor statute; and</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">any and all
            copies, summaries, analyses and extracts which relate or refer to or reflect any of the items set forth in (i) or (ii) above.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(d)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Definition of Person</u></font>.&#160; For purposes of this Agreement, the term &#8220;Person&#8221; shall mean any natural person, proprietorship,
          partnership, corporation, limited liability company, bank, organization, firm, business, joint venture, association, trust or other entity and any government agency, body or authority.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(e)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Return of Confidential Information and Other Property</u></font>.&#160; Employee covenants and agrees:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">to keep all
            Confidential Information subject to Bank&#8217;s or any Affiliate&#8217;s custody and control and to promptly return to Bank or the appropriate Affiliate all Confidential Information that is still in Employee&#8217;s possession or control at the termination of
            Employee&#8217;s employment with Bank; and</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">promptly upon
            termination of Employee&#8217;s employment with Bank, to return to Bank, at Bank&#8217;s principal office, all vehicles, equipment, computers, credit cards and other property of Bank and to cease using any of the foregoing.</font></div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026178"></a><a name="z_Ref19118334"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Solicitation of Customers and Employees</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Obligations of Employe</u>e</font>.&#160; During the Term, and for <font style="font-weight: bold;">two (2) years </font>thereafter,
          Employee will not in a competitive capacity (as defined in Section 10), on behalf of any person or entity other than Bank or any Affiliate, directly or indirectly:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one year preceding
            Employee&#8217;s separation,</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert
            (or attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate about whom Employee obtained Confidential Information;</font></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;">9</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one
            year preceding Employee&#8217;s separation,</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate about whom Employee has obtained confidential or proprietary information;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">encourage,
            solicit, induce, or attempt to encourage, solicit or induce any employee, service provider, agent or representative of Bank or any Affiliate, who (a) has access to, or possesses, Confidential Information, trade secrets, or other knowledge
            regarding the Bank or any Affiliate that could give a competitor an unfair advantage, or (b) within the preceding two years, has serviced or established goodwill with the Bank&#8217;s customers or acquired confidential information about those
            customers, or (c) was someone Employee had worked with, or supervised in Employee&#8217;s last two-years of employment (hereafter defined as an &#8220;Individual&#8221;), to leave his/her employment or terminate his/her relationship with Bank or any Affiliate or
            devote less than full time efforts to Bank&#8217;s or an Affiliate&#8217;s business; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">hire
              or attempt to hire, for any competitive or other position with any competitor or other business, any Individual&#160; who has been an employee of Bank or any Affiliate at any time within the preceding one year; </font><font style="font-style: italic; color: #000000;">provided, however, </font><font style="color: #000000;">that Employee shall not be deemed to have violated this Section if an employee responds to a general advertisement for employment with the competitor.</font></font></div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118294"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 10.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Competition</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>During Employment</u></font>.&#160; During Employee&#8217;s employment, Employee shall not, directly or indirectly, have any ownership interest in,
          work for, advise, manage, act as an agent or consultant for, or have any business connection or business or employment relationship with, any entity or person which competes with Bank or any of its Affiliates.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Following Termination of Employment</u></font>.&#160; For a period of <font style="font-weight: bold;">two (2) years </font>after Employee&#8217;s
          separation from Bank for any reason, Employee shall not:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in the states of
            Indiana and/or Michigan;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in any Indiana
            county or Michigan county in which Bank maintains a branch or other office;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in any Indiana
            county or Michigan county in which customers of Bank reside or maintain a facility;</font></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;">10</font></div>
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          <div id="DSPFPageHeader"></div>
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        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in the geographic
            area in which Employee has been performing services on behalf of Bank, or for which Employee has been assigned responsibility, at any time within one (1) year preceding Employee&#8217;s separation;</font></div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">directly or indirectly own, manage, finance, operate, control or participate in ownership, management, or operation of, act as an agent, consultant, or be
          employed in a Competitive Capacity with, any banking or financial institution which competes with Bank or any of its Affiliates. Employee further agrees that during that same period, Employee will not assist in the research and development of
          products or services (A) where such research and development would be aided by the Confidential Information learned in the course of Employee&#8217;s relationship with Bank; or (B) which compete with those products or services of Bank or any Affiliate.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Definition of &#8220;Competitive Capacity&#8221;</u></font>.&#160; For purposes of this Agreement, the term &#8220;<font style="font-weight: bold;">Competitive
            Capacity</font>&#8221; shall mean (i) performing tasks or duties similar to those Employee performed at Bank or any Affiliate for a competitor of Bank; (ii) managing/supervising those who, for a competitor of Bank, perform tasks or duties similar to
          those which Employee performed at Bank; or (iii) performing, on behalf of a competitor of Bank, tasks or duties in which Employee utilized any Confidential Information that Employee learned in the course of Employee&#8217;s relationship with Bank or
          any Affiliate.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118951"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 11.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Periods of Noncompliance and Reasonableness of Periods</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Acknowledgment</u></font>.&#160; Bank and Employee understand, acknowledge and agree that the restrictions and covenants contained in Sections
          8, 9 and 10 hereof are reasonable in view of the nature of the business in which Bank and the Affiliates are engaged, Employee&#8217;s position with Bank and the Affiliates and Employee&#8217;s advantageous knowledge of and familiarity with the business,
          operations, affairs and customers of Bank and the Affiliates. Employee acknowledges that the various covenants, restrictions and obligations set forth in those Sections are separate and independent obligations, and may be enforced separately or
          in any combination.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Effect of Employee Breach</u></font>.&#160; The time periods during which the restrictions and covenants of Sections 8, 9 and 10 are
          applicable will be extended by a period of time equal to any period during which Employee is not in compliance with such restrictions and covenants. Bank&#8217;s obligation to pay the amounts otherwise payable to Employee pursuant to this Agreement
          shall immediately terminate in the event that Employee breaches any of the provisions of Sections 8, 9 and 10 hereof. Notwithstanding the foregoing, (i) the covenants of Employee set forth in Sections 8, 9 and 10 hereof shall continue in full
          force and effect and be binding upon Employee; (ii) Bank shall be entitled to the remedies specified in Section 13 hereof; and (iii) Bank shall be entitled to its damages, costs and expenses (including, without limitation, reasonable attorney&#8217;s
          fees and expenses) resulting from or relating to Employee&#8217;s breach of any of the provisions of Sections Section 8, 9 or 10 hereof.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Effect of Bank Breach</u></font>.&#160; Bank and Employee understand, acknowledge and agree that Employee&#8217;s entitlement to special severance
          benefits upon a Qualifying Termination following a Change in Control, and the other provisions benefiting Employee under this Agreement, are a material part of the consideration for the restrictions contained in Sections 8, 9 and 10 of this
          Agreement. Accordingly, if Bank breaches any of its material obligations to Employee that arise following termination of Employee for any reason, and the breach is not cured within thirty (30) days of written</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;">11</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">notice of the breach, then Employee&#8217;s obligations under Sections 8, 9 and 10 of this Agreement shall be suspended.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026651"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 12.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Survival of Certain Provisions</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Employee hereby expressly agrees that upon any termination of the Term of this Agreement due to Employee&#8217;s termination of employment
          with Bank or otherwise, the provisions of Sections 8 - 24 hereof shall continue to be in full force and effect and binding upon Employee in accordance with the respective provisions of such Sections (except in the case of Bank breach as described
          in Section 11).</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026567"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 13.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Remedies</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Employee agrees that Bank or an Affiliate will suffer irreparable damage and injury and will not have an adequate remedy at law in the
          event of any actual, threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10. Accordingly, in the event of a breach or a threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10, in addition to
          all other remedies to which Bank and Affiliates are entitled at law, in equity or otherwise, Bank and Affiliates may be entitled to a temporary restraining order and a permanent injunction or a decree of specific performance of any provision of
          Sections 8, 9 or 10. The foregoing remedies shall not be deemed to be the exclusive rights or remedies of Bank or an Affiliate for any breach of or noncompliance with this Agreement by Employee but shall be in addition to all other rights and
          remedies available to Bank or an Affiliate at law, in equity or otherwise.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118048"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Section&#160;280G</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Anything in this Agreement to the contrary notwithstanding, in the event Bank&#8217;s independent public accountants or counsel determine that
          any payment by Bank to or for the benefit of Employee, whether paid or payable pursuant to the terms of this Agreement or otherwise, would be non-deductible by Bank for federal income tax purposes because of Section&#160;280G of the Internal Revenue
          Code, the amount payable to or for the benefit of Employee pursuant to this Agreement and all other arrangements shall be reduced (but not below zero) in a manner determined by Holding Company to the Reduced Amount. For purposes of this Section
          14, the &#8220;<font style="font-weight: bold;">Reduced Amount</font>&#8221; shall be the amount which maximizes the amount payable without causing the payment to be non-deductible by Bank because of Section&#160;280G. If two economically equivalent amounts are
          subject to reduction but are payable at different times, the amounts shall be reduced (but not below zero) on a pro rata basis.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 15.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Successors and Assigns</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement is binding upon and shall be for the benefit of the successors and assigns of Bank and Holding Company, including any
          corporation or any other form of business organization with which Bank or Holding Company may merge or consolidate, or to which it may transfer substantially all of its assets. Bank or Holding Company shall require any successor to expressly
          assume and agree, in writing, to perform this Agreement and any successor shall absolutely and unconditionally assume all of Bank&#8217;s and Holding Company&#8217;s obligations hereunder. Failure of Bank or Holding Company to obtain such agreement prior to
          the effectiveness of any such succession shall be a material breach of this Agreement and shall entitle Employee to terminate employment with Bank for Good Reason pursuant to Section 6 of this Agreement. As used in this Agreement, &#8220;Bank&#8221; shall
          mean Bank as hereinbefore defined and any successor to its business and/or assets. This Agreement may not be assigned by Bank or Holding Company without the prior written consent of Employee,</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;">12</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>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">which consent shall not be unreasonably withheld. The Agreement will also be binding upon, enforceable against, and inure to the benefit of Employee and
          Employee&#8217;s heirs and representatives, and nothing herein is intended to confer any right, remedy or benefit upon any other person. Employee shall not assign Employee&#8217;s interest in this Agreement or any part thereof.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 16.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Consent of Bank</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Any act, request, approval, consent or opinion of Bank under this Agreement, must be in writing and may be authorized, given or
          expressed only by Bank&#8217;s President or Chief Executive Officer, or by such other person as the Bank&#8217;s Board of Directors may designate.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 17.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Notices</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">All notices, requests and other communications under this Agreement will be in writing (which will include facsimile communication) and
          will be deemed to have been duly given if (a) delivered by hand; (b) sent by certified United States Mail, return receipt requested, first class postage pre-paid; (c) sent by overnight delivery service; or (d) sent by facsimile transmission if
          such fax is confirmed immediately thereafter by also mailing a copy of such notice, request or other communication by regular United States Mail, first class postage pre-paid, as follows:</div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zbee0b50e85d6475d9563a289d8ad16a5">

            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">(A)</div>
              </td>
              <td style="width: 15%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">If to Employee:</div>
              </td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">James D. Neff</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt; font-style: italic; font-weight: bold;">[redacted for privacy]</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">(B)</div>
              </td>
              <td style="width: 15%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">If to Bank:</div>
              </td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Horizon Bank</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">515 Franklin Street</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Michigan City, IN 46360</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Attn:&#160; Chief Executive Officer</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 18.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Governing Law</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement shall be governed by and construed in accordance with the laws of the State of Indiana applicable to contracts made and
          to be performed therein.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 19.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Enforcement Expenses</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">If a dispute arises regarding the termination of Employee or as to the interpretation or enforcement of this Agreement and Employee
          obtains a final judgment in Employee&#8217;s favor in a court of competent jurisdiction or Employee&#8217;s claim is settled by Bank prior to the rendering of a judgment by such a court, all reasonable legal fees and expenses incurred by Employee in
          contesting or disputing any such termination or seeking to obtain or enforce any right or benefit provided for in this Agreement or otherwise pursuing Employee&#8217;s claims shall be paid by Bank (except as otherwise decided in any settlement between
          the parties) to the extent permitted by law.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 20.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Superseding Prior Agreements; Entire Agreement</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The Employee, Bank and Holding Company agree that as long as the provisions of Sections 8, 9 and 10 are in effect, those provisions
          shall supersede and replace any similar restrictions in any other agreement between the parties, including, but not limited to, any employment agreement,</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;">13</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>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">non&#8209;competition or non-solicitation agreement, and any equity award agreement or plan relating thereto. This Agreement sets forth the entire understanding
          of the parties hereto with respect to its subject matter, merges and supersedes all prior and contemporaneous understandings with respect to its subject matter, and may not be waived or modified, in whole or in part, except by a writing signed by
          each of the parties hereto. No waiver of any provision of this Agreement in any instance shall be deemed to be a waiver of the same or any other provision in any other instance.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 21.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Headings</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The headings in this Agreement have been inserted solely for ease of reference and shall not be considered in the interpretation or
          construction of this Agreement.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 22.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Severability</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, this Agreement shall be
          interpreted and enforceable as if such provision were severed or limited or such payment reduced, but only to the extent necessary to render such provision and this Agreement enforceable.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 23.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Counterparts</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement may be executed in two or more counterparts, each of which shall be an original, but all of which together shall
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement may be amended, modified or supplemented only by a written agreement executed by both of the parties hereto.</div>
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold;">IN WITNESS WHEREOF</font>, the parties hereto have executed this Agreement as of <font style="font-weight: bold;">December 31, 2019</font>, to be effective as of the Effective Date.</div>
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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>hb_8k123119ex103.htm
<DESCRIPTION>CHANGE IN CONTROL AGREEMENT (MARK E. SECOR)
<TEXT>
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      <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.3</font><br>
      </div>
      <div> <br>
      </div>
      <div>&#160;
        <div style="text-align: center; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">HORIZON BANK<br>
          <br style="line-height: 13.7pt;">
          <br>
          CHANGE IN CONTROL AGREEMENT</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">This Change in Control Agreement</font> (&#8220;<font style="font-weight: bold;">Agreement</font>&#8221;),
          dated and effective as of January 1, 2020 (the &#8220;<font style="font-weight: bold;">Effective Date</font>&#8221;), is entered into between <font style="font-variant: small-caps;">Horizon Bank</font> (&#8220;<font style="font-weight: bold;">Bank</font>&#8221;), an
          Indiana state bank, and<font style="font-variant: small-caps;">&#160;</font><font style="font-weight: bold; font-variant: small-caps;"><u>Mark E. Secor</u></font><font style="font-variant: small-caps;">&#160;</font>(&#8220;<font style="font-weight: bold;">Employee</font>&#8221;),
          a resident of the State of <font style="font-weight: bold;">Indiana.</font></div>
        <div style="text-align: center; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold;">WITNESSETH</font>:</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, Bank is a subsidiary of Horizon Bancorp, Inc. (&#8220;<font style="font-weight: bold;">Holding Company</font>&#8221;), a corporation formed under the laws of the State of Indiana;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, Executive currently serves as an employee of the Bank, either
          as an employee-at-will or pursuant to a written employment agreement;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, the Board of Directors of the Bank (&#8220;<font style="font-weight: bold;">Board</font>&#8221;) has determined that it is in the best interests of the Bank and the Holding Company to assure that the Bank will have the continued dedication and objectivity of Employee, notwithstanding the possibility, threat or
          occurrence of a Change in Control (as defined herein) of the Bank or the Holding Company; and</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, the Board believes that it is in the best interests of the
          Bank and the Holding Company to provide Employee with certain severance benefits following a Change in Control in order to provide Employee with enhanced financial security, to allow the Bank to remain competitive with peers, and to incentivize
          and encourage Employee to remain with the Bank notwithstanding the possibility of a Change in Control.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Now, Therefore</font>, in consideration of the mutual promises herein
          contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Term</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The term of this Agreement shall begin on the Effective Date and, except as otherwise expressly provided herein, automatically terminate
          immediately upon the termination of Employee&#8217;s employment, for any reason, prior to a Change in Control. In the event Employee is still employed by Bank at the time of a Change in Control, then the term shall continue for one (1) year following
          consummation of the Change in Control. Notwithstanding the foregoing, the provisions of Sections 8 &#8211; 24 of this Agreement shall survive any termination of the Term, as provided in Section 12 of this Agreement.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">At-Will Employment</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Unless Employee is a party to a separate written employment agreement with Bank or Holding Company, nothing in this Agreement shall be
          deemed to entitle Employee to continued employment with Bank or any affiliated companies. Employee acknowledges that unless Employee is subject to a separate written employment agreement that provides otherwise, Employee is an at-will employee,
          meaning that either Employee or Bank can terminate the employment relationship at any time, with or without Cause (as defined herein), and that this Agreement shall not change or affect Employee&#8217;s at-will status. If Employee&#8217;s employment with
          Bank terminates prior to a Change in Control, Employee shall have no further rights under this Agreement, except as otherwise provided herein.</div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Change in Control</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition</u></font>.&#160; For purposes of this Agreement, a &#8220;<font style="font-weight: bold;">Change in Control</font>&#8221; shall be deemed to
          have occurred if the conditions or events set forth in any one or more of the following subsections occur:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any merger,
            consolidation or similar transaction which involves Bank or Holding Company and in which persons who are the shareholders of Bank or Holding Company immediately prior to the transaction own, immediately after the transaction, shares of the
            surviving or combined entity which possess voting rights equal to or less than 50 percent of the voting rights of all shareholders of such entity, determined on a fully diluted basis;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any sale, lease,
            exchange, transfer or other disposition of all or substantially all of the consolidated assets of Bank or Holding Company;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any tender,
            exchange, sale or other disposition (other than disposition of the stock of Holding Company or Bank in connection with bankruptcy, insolvency, foreclosure, receivership or other similar transactions) or purchase (other than purchases by Holding
            Company or any Holding Company or Bank-sponsored employee benefit plan, or purchases by members of the board of directors of Holding Company or Bank) of shares which represent more than 25 percent of the voting power of Holding Company or Bank;
            or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">During any period
            of two consecutive years, individuals who at the date of this Agreement constitute the board of directors of Holding Company cease for any reason to constitute at least a majority thereof, unless the election of each director at the beginning
            of the period has been approved by directors representing at least a majority of the directors then in office.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Exceptions</u></font>.&#160; Notwithstanding the provisions of Section 3(a), a Change in Control shall not be deemed to have occurred:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">As a result of the
            issuance of stock by the Holding Company in connection with any public offering of its stock;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">With respect to
            stock ownership by the Horizon Bancorp Employee Stock Ownership Plan Trust (which forms a part of the Horizon Bancorp Employees&#8217; Stock Ownership Plan), the Horizon Bancorp Employee&#8217;s Thrift Plan Trust (which forms a part of the Horizon Bancorp
            Employee&#8217;s Thrift Plan), or any other employee benefit plan; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">With
              respect to any payment or benefit provided under the Agreement to which Section&#160;409A of the Internal Revenue Code of 1986, as amended (the &#8220;</font><font style="font-weight: bold; color: #000000;">Internal Revenue Code</font><font style="color: #000000;">&#8221;), is applicable and for which a change in control event is required, unless the event related to such payment or benefit constitutes a &#8220;change in control&#8221; for purposes of Section&#160;409A.</font></font></div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Double-Trigger Severance Benefits in Connection with a Change in Control and a Qualifying Termination</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination Period</u></font>.&#160; In connection with a Change in Control, Employee will be entitled to the severance benefits set forth in
          this Section 4 if during the six (6) month period prior to a Change in Control or during the one (1) year period following consummation of a Change in Control, either of the following two qualifying terminations occurs: (i) Bank terminates
          Employee&#8217;s employment for any reason other than for Cause (as hereafter defined); or (ii) Employee resigns for Good Reason (as hereafter defined) in accordance with the provisions of Section 6; (each of the terminations described in (i) and (ii)
          hereof shall be referred to as a &#8220;<font style="font-weight: bold;">Qualifying Termination</font>&#8221;).</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;"><u>Conditions to Receipt
                of Severance Benefits.</u></font><font style="color: #000000;">&#160; Employee&#8217;s entitlement to the severance payments set forth in this Section 4 shall be contingent upon Employee&#8217;s execution (and non-revocation) of a release of claims relating
              to Employee&#8217;s employment by the Bank, Holding Company, and/or any of their Affiliates in favor of such parties in a form reasonably acceptable to, and provided by, Bank (the &#8220;</font><font style="font-weight: bold; color: #000000;">Release</font><font style="color: #000000;">&#8221;). Bank will set a deadline for return of the Release that will be no later than sixty (60) days following the later of the Employee&#8217;s Qualifying Termination or Change in Control, as applicable, and the Release must
              remain unrevoked during any revocation period. No severance benefits shall be paid to Employee under this Agreement if the Release is not executed by Employee and returned to Bank by such deadline. In addition, Employee must be and remain in
              compliance with the provisions of Sections 8 &#8211; 10 of this Agreement.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Severance Benefits Provided</u></font>.&#160; Upon a Qualifying Termination and subject to Employee&#8217;s compliance with Sections 8 - 10 hereof and
          Employee&#8217;s timely execution and delivery of the Release, Bank will pay or provide to Employee the following amounts and benefits:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">That portion of
            Employee&#8217;s base salary earned through the date of termination, payable in accordance with normal payroll practices commencing as of the first payroll period following Employee&#8217;s return of the executed Release and the lapse of all applicable
            revocation periods, or as soon as administratively practicable thereafter;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">A
              lump sum amount equal to </font><font style="font-weight: bold; color: #000000;"><u>2.00 times</u></font><font style="color: #000000;"> Employee&#8217;s annual base salary in effect as of the date immediately preceding the date of termination plus
              a single sum payment equal to the average of the Employee&#8217;s total cash bonuses paid or payable for the last two calendar years preceding the date of termination multiplied by a factor of </font><font style="font-weight: bold; color: #000000;"><u>2.00</u></font><font style="color: #000000;"> all payable as of the date of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively
              practicable thereafter;</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">Continued
              participation in the group health insurance and group life insurance benefits which Employee was eligible to participate in or receive on the day prior to the date of termination (&#8220;</font><font style="font-weight: bold; color: #000000;">Insurance

              Programs</font><font style="color: #000000;">&#8221;), beginning on the date of termination and continuing for a period of </font><font style="font-weight: bold; color: #000000;"><u>twenty-four (24) months</u></font><font style="color: #000000;">
              (&#8220;</font><font style="font-weight: bold; color: #000000;">Benefit Continuation Term</font><font style="color: #000000;">&#8221;), but only to the extent Employee continues to qualify for participation therein and takes all actions required in
              connection with such participation (including participation through Employee&#8217;s timely election of COBRA continuation coverage). If Employee is not permitted to continue participation in those Insurance Programs for any portion of the Benefit
              Continuation Term, Bank will reimburse Employee for the cost of health insurance and life insurance benefits for the Benefit Continuation Term, subject to the Employee timely providing evidence of</font></font></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;">3</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">payment for such benefits; <font style="font-style: italic;">provided, however</font>, the amount of these benefits
          will be limited to an amount equal to 110% of Bank&#8217;s cost of providing comparable benefits under the Insurance Programs and provided that Employee shall receive the entire amount payable under this Section 4(c)(iii) no later than the end of the
          second calendar year following the Qualifying Termination;</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">All amounts that
            have vested or accrued prior to or on the date of termination (or otherwise are or become payable to Employee) under all incentive compensation or other qualified and non-qualified employee benefit plans of the Holding Company or Bank in
            accordance with the provisions of such plans and past practices of Holding Company or Bank, including without limitation, any Bank contributions or matches related to those amounts. For purposes of clarification, the intent of this Section is
            for Employee to receive all amounts attributable to Employee&#8217;s participation in such plans, as now or hereafter existing, up to and including the date of termination, regardless of whether the amounts are historically deposited or credited to
            individual employee accounts or subject to Board of Director approval on a date beyond the date of termination, and Bank agrees to compute and pay, deposit or credit all such amounts as soon as possible after the date of termination if not
            capable of being calculated, paid, deposited or credited prior to the date of termination;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">An amount equal to
            the partial year bonus which Employee would have earned based on the then-current bonus plan of the Bank in the year a Change in Control occurred, as measured through the effective date of a Change in Control based on the then-current financial
            results, determined by the Bank in its discretion, payable as of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively practicable thereafter;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding the
            foregoing, all options granted to Employee to purchase shares of common stock of the Holding Company and all performance shares and shares of restricted stock of the Holding Company (whether such options, performance shares and restricted
            shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and Employee.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(d)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Suspension and Termination of Severance Benefits</u></font>.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">If
              Employee is removed and/or permanently prohibited from participating in the conduct of the Bank&#8217;s affairs by an order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (&#8220;</font><font style="font-weight: bold; color: #000000;">FDIA</font><font style="color: #000000;">&#8221;) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of Bank and Holding Company under this Agreement shall terminate as of the effective date of the order, but vested rights of the
              parties shall not be affected.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">If the Bank is in
            default (as defined in Section 3(x)(1) of FDIA), all obligations of Bank and Holding Company under this Agreement shall terminate as of the date of default; however, this subsection shall not affect the vested rights of the parties.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">All
              obligations of Bank and Holding Company under this Agreement shall terminate, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (A) by the Indiana Department of Financial
              Institutions (the &#8220;</font><font style="font-weight: bold; color: #000000;">DFI</font><font style="color: #000000;">&#8221;) or its designee, or the Bank&#8217;s primary federal regulator at the time</font></font></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;">4</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">that the Federal Deposit Insurance Corporation (&#8220;<font style="font-weight: bold;">FDIC</font>&#8221;) enters into an agreement
          to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of FDIA; or (B) by the DFI, or its designee, or the Bank&#8217;s primary federal regulator, at the time that the DFI, or its designee, or the Bank&#8217;s
          primary federal regulator, approves a supervisory merger to resolve problems related to the operation of the Bank or when the Bank is determined by the DFI, or the Bank&#8217;s primary federal regulator, to be in an unsafe or unsound condition. Any
          such action shall not affect any vested rights of the parties.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">If a notice served
            under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) or (g)(1)) suspends and/or temporarily prohibits Employee from participating in the conduct of the Bank&#8217;s affairs, Bank&#8217;s and Holding Company&#8217;s obligations under this Agreement
            shall be suspended as of the effective date of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Bank shall (A) pay Employee all or part of the compensation withheld while its contract
            obligations were suspended, and/or (B) reinstate (in whole or in part) any of its obligations which were suspended.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding
            anything to the contrary contained herein, Employee acknowledges and agrees that any payments made to Employee pursuant to this Agreement, or otherwise, are subject to and conditioned upon compliance with the provisions of 12 U.S.C. 1828(k) and
            Part 359 of the FDIC&#8217;s regulations (12 C.F.R. Part 359), which provisions contain certain prohibitions and limitations on making &#8220;golden parachute&#8221; and certain indemnification payments by FDIC-insured institutions and their holding companies.
            In the event any payments to Employee pursuant to this Agreement are prohibited or limited by the provisions of such statute and/or regulations, Bank and/or Holding Company (A) shall pay the maximum amount that may be paid after applying such
            limitations; and (B) will use commercially reasonable efforts to obtain the consent of the appropriate regulatory authorities to the payment of any amount that otherwise cannot be paid due to the application of such limitations. Employee agrees
            that Bank and/or Holding Company shall not have breached any obligations under this Agreement if they are unable to pay all or some portion of any payment due to Employee as a result of the application of these limitations.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;"><u>Effect of Section 409A of the
              Internal Revenue Code.</u></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">To the
              extent a Change in Control qualifies as a &#8220;change in control&#8221; for purposes of Section 409A of the Internal Revenue Code, the parties intend that any payments made or benefits received pursuant to this Section 4, or otherwise received by
              Employee, shall be exempt from, or comply with, Section 409A of the Internal Revenue Code and all Treasury Regulations and guidance promulgated thereunder (&#8220;</font><font style="font-weight: bold; color: #000000;">Section 409A</font><font style="color: #000000;">&#8221;). To the maximum extent permitted, this Agreement shall be limited, construed and interpreted in accordance with such intent. In no event whatsoever shall Bank, Holding Company, any Affiliates, and/or their
              respective officers, directors, employees or agents be liable for any additional tax, interest or penalties that may be imposed on Employee by Section 409A or damages for failing to comply with Section 409A.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding any
            other provision of this Agreement to the contrary, if at the time of Employee&#8217;s separation from service (as defined in Section 409A) Employee is a &#8220;Specified Employee&#8221; within the meaning and in accordance with Treasury Regulation Section</font></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">
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">1.409A-1(i), then Bank will defer the payment or commencement of any nonqualified deferred compensation subject to
          Section 409A payable upon separation from service (without any reduction in such payments or benefits ultimately paid or provided to Employee) until the date that is six (6) months following separation from service or, if earlier, the earliest
          other date as is permitted under Section 409A. Any amounts that otherwise would have been paid during this deferral period will be paid in a lump sum on the day after the expiration of the six (6) month period or such shorter period, if
          applicable.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118236"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Termination for Cause</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of &#8220;Cause&#8221;</u></font>.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Cause</font>&#8221; is defined as any of the
          following actions:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">An
              intentional act of fraud, embezzlement, theft, or personal dishonesty; willful misconduct, or breach of fiduciary duty involving personal profit by Employee in the course of Employee&#8217;s employment; </font><font style="font-style: italic; color: #000000;">provided, however, </font><font style="color: #000000;">that (A) no act or failure to act will be deemed to have been intentional or willful if it was due primarily to an error in judgment or negligence; and (B) an act or
              failure to act will only be considered intentional or willful if it is not in good faith and if it is without a reasonable belief that the action or failure to act is in the best interest of Bank or Holding Company;</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Intentional damage
            by Employee to the business or property of Bank or Holding Company, causing material harm to Bank or Holding Company;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Material breach by
            Employee of any provision of this Agreement or any employment agreement the Employee is a party to;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Gross negligence or
            insubordination by Employee in the performance of Employee&#8217;s duties, or the Employee&#8217;s refusal or repeated failure to carry out lawful directives of the Board of Directors of Bank or Holding Company or of any other supervisor; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Removal or permanent
            prohibition of Employee from participating in the conduct of the affairs of Bank or Holding Company by an order issued under subsection 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12&#160;USC&#160;&#167;&#167;&#160;1818(e)(4) and (g)(1).</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Procedure for a Termination for Cause</u></font>.&#160; Bank, upon written notice to Employee, may terminate Employee&#8217;s employment for Cause,
          which will terminate Employee&#8217;s employment and right to compensation immediately, except in the limited case expressly provided herein with respect to Causes that are curable. The written notice will (i) indicate the specific provisions of this
          Agreement relied upon for such termination; (ii) set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination; (iii) state whether the Board of Directors of Bank has determined in good faith that the
          issue is curable; and (iv) if the issue has been deemed curable, describe the steps, actions, events or other items that must be taken, completed or followed by Employee to correct or cure the basis for such termination. If (but only if) the
          basis for termination has been deemed curable by the Board of Directors, then Employee will have thirty (30) days following the effective date of such notice to fully correct and cure the basis for the termination of Employee&#8217;s employment. If
          Employee does not fully correct and cure the basis for the termination of Employee&#8217;s employment within such 30-day period, then Bank will have the right to terminate Employee&#8217;s employment with Bank immediately for Cause upon delivering to
          Employee a second written notice</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;">6</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
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          <div id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">of termination and without any further cure period. Unless otherwise specified in the written notice, the date of termination shall be the date of the
          first written notice, in the case of an uncurable Cause, and shall be the date of the second written notice, in the case of a curable but uncured Cause.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect on Other Written Agreements</u></font>.&#160; Bank intends the provisions of this Section 5 relating to a termination for Cause to be
          consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Cause, the provisions of this Agreement shall prevail in all cases following a Change in Control.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118215"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Termination for Good Reason</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of &#8220;Good Reason&#8221;</u></font>.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Good Reason</font>&#8221; is defined as
          the occurrence of any of the following events:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The requirement that
            Employee move Employee&#8217;s office to a location more than thirty (30) miles from Employee&#8217;s principal residence as of the Effective Date;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A reduction in
            Employee&#8217;s then-current annual base salary;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The removal of
            Employee from participation in any incentive compensation or performance-based compensation plans without replacement with a comparable or superior substitute plan or otherwise compensating Employee in an amount substantially equivalent to the
            value of the lost benefit;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M75"></a><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The taking of any action by Bank or Holding Company which would directly or indirectly reduce any material benefit plan or program or deprive Employee of any such benefit enjoyed by Employee;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M76"></a><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The assignment to Employee of duties and responsibilities materially different from those normally associated with Employee&#8217;s position;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M77"></a><a name="z_DV_M78"></a><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A material diminution or reduction in Employee&#8217;s duties, responsibilities or authority (including reporting responsibilities) normally associated with Employee&#8217;s position;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any action by Bank
            to remove Employee from Employee&#8217;s then-current officer position or materially change Employee&#8217;s title, except for promotions;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M79"></a><font style="font-size: 12pt; color: #010000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A material breach by Bank of any provision of this Agreement, other than a breach justifying termination pursuant to any other provision of this Agreement; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">To the extent such
            assumption does not occur as a matter of law, any failure of Bank or Holding Company to obtain the assumption of the obligation to perform this Agreement by any successor, including upon a Change in Control.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Procedure for a Termination for Good Reason</u></font>.&#160; Employee, by written notice to Bank, may terminate Employee&#8217;s employment with Bank
          for Good Reason. For Employee to have the right to resign for Good Reason, all of the following must timely occur: (i) Employee must provide Bank with written notice of the occurrence of any of the Good Reason events within ninety (90) days</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;">7</font></div>
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        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">immediately following the first occurrence of such event, and such notice must describe in detail the Good Reason event and the proposed cure to such
          event; (ii) Bank must fail to cure such event within a period of thirty (30) days from the date of receipt of such notice; and (iii) a second written notice of termination is delivered by Employee to Bank within ninety (90) days following the day
          on which the 30-day period set forth in the preceding clause (ii) expires. Unless otherwise specified in the second written notice, the date of termination shall be the date of the second written notice.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><u>Effect on Other Written Agreements</u></font>.&#160; Bank intends the provisions of this Section 6 relating to a termination for Good Reason to be
          consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Good Reason, the provisions of this Agreement shall prevail in all cases following a Change in Control.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19198625"></a><a name="z_Ref461026370"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Terminations for Other Reasons</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination by Bank without Cause</u></font>.&#160; Upon thirty (30) days&#8217; written notice to Employee, Bank may terminate Employee&#8217;s employment
          without Cause.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination by Employee without Good Reason</u></font>.&#160; Employee, upon sixty (60) days&#8217; written notice to Bank, may terminate Employee&#8217;s
          employment without Good Reason.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026165"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Disclosure; Return of Confidential Information and Other Property</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Access to Confidential Information</u></font>.&#160; Employee understands, acknowledges and agrees that during the course of Employee&#8217;s
          employment with Bank, Employee will gain information regarding, knowledge of and familiarity with the Confidential Information (as hereinafter defined) of Bank and its Affiliates and that if the Confidential Information was disclosed by Employee,
          Bank or any Affiliates would suffer irreparable damage and harm. Employee understands, acknowledges and agrees that the Confidential Information derives substantial economic value from, among other reasons, not being known or readily
          ascertainable by proper means by others who could obtain economic value therefrom upon disclosure. Employee acknowledges and agrees that Bank and all Affiliates use reasonable means to maintain the secrecy and confidentiality of the Confidential
          Information. For purposes of this Agreement, the term &#8220;Affiliate&#8221; means Holding Company and all subsidiaries of Holding Company and its subsidiaries.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font>Non-Disclosure</u></font>.&#160; At all times while Employee is employed by Bank, and at all times thereafter, Employee shall not (i) directly or
          indirectly disclose, provide or discuss any Confidential Information with or to any Person (as hereinafter defined) other than those directors, officers, employees, representatives and agents of Bank and any Affiliates who need to know such
          Confidential Information for a proper corporate purpose, and (ii) directly or indirectly use any Confidential Information (A) to compete against Bank or any Affiliates, or (B) for Employee&#8217;s own benefit or for the benefit of any Person other than
          Bank or any Affiliate. Employee agrees that all Confidential Information at all times shall remain the property of, as applicable, Bank or its Affiliates.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Confidential Information Defined</u></font>.&#160; For purposes of this Agreement, the term &#8220;Confidential Information&#8221; means any and all:</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;">8</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">materials, records,
            data, documents, lists, writings and information (whether in writing, printed, verbal, electronic, computerized, on disk or otherwise) (A) relating or referring in any manner to the business, operations, affairs, financial condition, results of
            operation, cash flow, assets, liabilities, sales, revenues, income, estimates, projections, policies, strategies, techniques, methods, products, developments, suppliers, relationships and/or customers of Bank or any Affiliate that are
            confidential, proprietary or not otherwise publicly available, in any event not without a breach of this Agreement, or (B) that Bank or any Affiliate has deemed confidential, proprietary or nonpublic;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">trade secrets of
            Bank or any Affiliate, as defined in Indiana Code Section 24&#8209;2&#8209;3&#8209;2, as amended, or any successor statute; and</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">any and all
            copies, summaries, analyses and extracts which relate or refer to or reflect any of the items set forth in (i) or (ii) above.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(d)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of Person</u></font>.&#160; For purposes of this Agreement, the term &#8220;Person&#8221; shall mean any natural person, proprietorship,
          partnership, corporation, limited liability company, bank, organization, firm, business, joint venture, association, trust or other entity and any government agency, body or authority.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(e)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Return of Confidential Information and Other Property</u></font>.&#160; Employee covenants and agrees:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">to keep all
            Confidential Information subject to Bank&#8217;s or any Affiliate&#8217;s custody and control and to promptly return to Bank or the appropriate Affiliate all Confidential Information that is still in Employee&#8217;s possession or control at the termination of
            Employee&#8217;s employment with Bank; and</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">promptly upon
            termination of Employee&#8217;s employment with Bank, to return to Bank, at Bank&#8217;s principal office, all vehicles, equipment, computers, credit cards and other property of Bank and to cease using any of the foregoing.</font></div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026178"></a><a name="z_Ref19118334"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Solicitation of Customers and Employees</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Obligations of Employee</u></font>.&#160; During the Term, and for <font style="font-weight: bold;"><u>two (2) years</u></font><font style="font-weight: bold;">&#160;</font>thereafter, Employee will not in a competitive capacity (as defined in Section 10), on behalf of any person or entity other than Bank or any Affiliate, directly or indirectly:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one year preceding
            Employee&#8217;s separation,</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert
            (or attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate about whom Employee obtained Confidential Information;</font></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;">9</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>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one
            year preceding Employee&#8217;s separation,</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate about whom Employee has obtained confidential or proprietary information;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">encourage,
            solicit, induce, or attempt to encourage, solicit or induce any employee, service provider, agent or representative of Bank or any Affiliate, who (a) has access to, or possesses, Confidential Information, trade secrets, or other knowledge
            regarding the Bank or any Affiliate that could give a competitor an unfair advantage, or (b) within the preceding two years, has serviced or established goodwill with the Bank&#8217;s customers or acquired confidential information about those
            customers, or (c) was someone Employee had worked with, or supervised in Employee&#8217;s last two-years of employment (hereafter defined as an &#8220;Individual&#8221;), to leave his/her employment or terminate his/her relationship with Bank or any Affiliate or
            devote less than full time efforts to Bank&#8217;s or an Affiliate&#8217;s business; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">hire
              or attempt to hire, for any competitive or other position with any competitor or other business, any Individual&#160; who has been an employee of Bank or any Affiliate at any time within the preceding one year; </font><font style="font-style: italic; color: #000000;">provided, however, </font><font style="color: #000000;">that Employee shall not be deemed to have violated this Section if an employee responds to a general advertisement for employment with the competitor.</font></font></div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118294"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 10.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Competition</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>During Employment</u></font>.&#160; During Employee&#8217;s employment, Employee shall not, directly or indirectly, have any ownership interest in,
          work for, advise, manage, act as an agent or consultant for, or have any business connection or business or employment relationship with, any entity or person which competes with Bank or any of its Affiliates.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Following Termination of Employment</u></font>.&#160; For a period of <font style="font-weight: bold;">two (2) years </font>after Employee&#8217;s
          separation from Bank for any reason, Employee shall not:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in the states of
            Indiana and/or Michigan;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in any Indiana
            county or Michigan county in which Bank maintains a branch or other office;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in any Indiana
            county or Michigan county in which customers of Bank reside or maintain a facility;</font></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;">10</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in the geographic area in which
            Employee has been performing services on behalf of Bank, or for which Employee has been assigned responsibility, at any time within one (1) year preceding Employee&#8217;s separation;</font></div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">directly or indirectly own, manage, finance, operate, control or participate in ownership, management, or operation of, act as an agent, consultant, or be
          employed in a Competitive Capacity with, any banking or financial institution which competes with Bank or any of its Affiliates. Employee further agrees that during that same period, Employee will not assist in the research and development of
          products or services (A) where such research and development would be aided by the Confidential Information learned in the course of Employee&#8217;s relationship with Bank; or (B) which compete with those products or services of Bank or any Affiliate.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of &#8220;Competitive Capacity&#8221;</u></font>.&#160; For purposes of this Agreement, the term &#8220;<font style="font-weight: bold;">Competitive
            Capacity</font>&#8221; shall mean (i) performing tasks or duties similar to those Employee performed at Bank or any Affiliate for a competitor of Bank; (ii) managing/supervising those who, for a competitor of Bank, perform tasks or duties similar to
          those which Employee performed at Bank; or (iii) performing, on behalf of a competitor of Bank, tasks or duties in which Employee utilized any Confidential Information that Employee learned in the course of Employee&#8217;s relationship with Bank or
          any Affiliate.</div>
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Acknowledgment</u></font>.&#160; Bank and Employee understand, acknowledge and agree that the restrictions and covenants contained in Sections 8, 9 and 10
          hereof are reasonable in view of the nature of the business in which Bank and the Affiliates are engaged, Employee&#8217;s position with Bank and the Affiliates and Employee&#8217;s advantageous knowledge of and familiarity with the business, operations,
          affairs and customers of Bank and the Affiliates. Employee acknowledges that the various covenants, restrictions and obligations set forth in those Sections are separate and independent obligations, and may be enforced separately or in any
          combination.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;"><u>(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> ))</font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect of Employee Breach</u></font>.&#160; The time periods during which the restrictions and covenants of Sections 8, 9 and 10 are applicable will be
          extended by a period of time equal to any period during which Employee is not in compliance with such restrictions and covenants. Bank&#8217;s obligation to pay the amounts otherwise payable to Employee pursuant to this Agreement shall immediately
          terminate in the event that Employee breaches any of the provisions of Sections 8, 9 and 10 hereof. Notwithstanding the foregoing, (i) the covenants of Employee set forth in Sections 8, 9 and 10 hereof shall continue in full force and effect and
          be binding upon Employee; (ii) Bank shall be entitled to the remedies specified in Section 13 hereof; and (iii) Bank shall be entitled to its damages, costs and expenses (including, without limitation, reasonable attorney&#8217;s fees and expenses)
          resulting from or relating to Employee&#8217;s breach of any of the provisions of Sections Section 8, 9 or 10 hereof.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect of Bank Breach</u></font>.&#160; Bank and Employee understand, acknowledge and agree that Employee&#8217;s entitlement to special severance
          benefits upon a Qualifying Termination following a Change in Control, and the other provisions benefiting Employee under this Agreement, are a material part of the consideration for the restrictions contained in Sections 8, 9 and 10 of this
          Agreement. Accordingly, if Bank breaches any of its material obligations to Employee that arise following termination of Employee for any reason, and the breach is not cured within thirty (30) days of written</div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">notice of the breach, then Employee&#8217;s obligations under Sections 8, 9 and 10 of this Agreement shall be suspended.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026651"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 12.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Survival of Certain Provisions</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Employee hereby expressly agrees that upon any termination of the Term of this Agreement due to Employee&#8217;s termination of employment
          with Bank or otherwise, the provisions of Sections 8 - 24 hereof shall continue to be in full force and effect and binding upon Employee in accordance with the respective provisions of such Sections (except in the case of Bank breach as described
          in Section 11).</div>
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Employee agrees that Bank or an Affiliate will suffer irreparable damage and injury and will not have an adequate remedy at law in the
          event of any actual, threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10. Accordingly, in the event of a breach or a threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10, in addition to
          all other remedies to which Bank and Affiliates are entitled at law, in equity or otherwise, Bank and Affiliates may be entitled to a temporary restraining order and a permanent injunction or a decree of specific performance of any provision of
          Sections 8, 9 or 10. The foregoing remedies shall not be deemed to be the exclusive rights or remedies of Bank or an Affiliate for any breach of or noncompliance with this Agreement by Employee but shall be in addition to all other rights and
          remedies available to Bank or an Affiliate at law, in equity or otherwise.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118048"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Section&#160;280G</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Anything in this Agreement to the contrary notwithstanding, in the event Bank&#8217;s independent public accountants or counsel determine that
          any payment by Bank to or for the benefit of Employee, whether paid or payable pursuant to the terms of this Agreement or otherwise, would be non-deductible by Bank for federal income tax purposes because of Section&#160;280G of the Internal Revenue
          Code, the amount payable to or for the benefit of Employee pursuant to this Agreement and all other arrangements shall be reduced (but not below zero) in a manner determined by Holding Company to the Reduced Amount. For purposes of this Section
          14, the &#8220;<font style="font-weight: bold;">Reduced Amount</font>&#8221; shall be the amount which maximizes the amount payable without causing the payment to be non-deductible by Bank because of Section&#160;280G. If two economically equivalent amounts are
          subject to reduction but are payable at different times, the amounts shall be reduced (but not below zero) on a pro rata basis.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 15.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Successors and Assigns</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement is binding upon and shall be for the benefit of the successors and assigns of Bank and Holding Company, including any
          corporation or any other form of business organization with which Bank or Holding Company may merge or consolidate, or to which it may transfer substantially all of its assets. Bank or Holding Company shall require any successor to expressly
          assume and agree, in writing, to perform this Agreement and any successor shall absolutely and unconditionally assume all of Bank&#8217;s and Holding Company&#8217;s obligations hereunder. Failure of Bank or Holding Company to obtain such agreement prior to
          the effectiveness of any such succession shall be a material breach of this Agreement and shall entitle Employee to terminate employment with Bank for Good Reason pursuant to Section 6 of this Agreement. As used in this Agreement, &#8220;Bank&#8221; shall
          mean Bank as hereinbefore defined and any successor to its business and/or assets. This Agreement may not be assigned by Bank or Holding Company without the prior written consent of Employee,</div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">which consent shall not be unreasonably withheld. The Agreement will also be binding upon, enforceable against, and inure to the benefit of Employee and
          Employee&#8217;s heirs and representatives, and nothing herein is intended to confer any right, remedy or benefit upon any other person. Employee shall not assign Employee&#8217;s interest in this Agreement or any part thereof.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 16.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Consent of Bank</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Any act, request, approval, consent or opinion of Bank under this Agreement, must be in writing and may be authorized, given or
          expressed only by Bank&#8217;s President or Chief Executive Officer, or by such other person as the Bank&#8217;s Board of Directors may designate.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 17.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Notices</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">All notices, requests and other communications under this Agreement will be in writing (which will include facsimile communication) and
          will be deemed to have been duly given if (a) delivered by hand; (b) sent by certified United States Mail, return receipt requested, first class postage pre-paid; (c) sent by overnight delivery service; or (d) sent by facsimile transmission if
          such fax is confirmed immediately thereafter by also mailing a copy of such notice, request or other communication by regular United States Mail, first class postage pre-paid, as follows:</div>
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              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">515 Franklin Street</div>
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            </tr>
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              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Michigan City, IN 46360</div>
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            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Attn:&#160; Chief Executive Officer</div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 18.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Governing Law</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement shall be governed by and construed in accordance with the laws of the State of Indiana applicable to contracts made and
          to be performed therein.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 19.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Enforcement Expenses</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">If a dispute arises regarding the termination of Employee or as to the interpretation or enforcement of this Agreement and Employee
          obtains a final judgment in Employee&#8217;s favor in a court of competent jurisdiction or Employee&#8217;s claim is settled by Bank prior to the rendering of a judgment by such a court, all reasonable legal fees and expenses incurred by Employee in
          contesting or disputing any such termination or seeking to obtain or enforce any right or benefit provided for in this Agreement or otherwise pursuing Employee&#8217;s claims shall be paid by Bank (except as otherwise decided in any settlement between
          the parties) to the extent permitted by law.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 20.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Superseding Prior Agreements; Entire Agreement</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The Employee, Bank and Holding Company agree that as long as the provisions of Sections 8, 9 and 10 are in effect, those provisions
          shall supersede and replace any similar restrictions in any other agreement between the parties, including, but not limited to, any employment agreement,</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;">13</font></div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">non&#8209;competition or non-solicitation agreement, and any equity award agreement or plan relating thereto. This Agreement sets forth the entire understanding
          of the parties hereto with respect to its subject matter, merges and supersedes all prior and contemporaneous understandings with respect to its subject matter, and may not be waived or modified, in whole or in part, except by a writing signed by
          each of the parties hereto. No waiver of any provision of this Agreement in any instance shall be deemed to be a waiver of the same or any other provision in any other instance.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 21.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Headings</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The headings in this Agreement have been inserted solely for ease of reference and shall not be considered in the interpretation or
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 22.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Severability</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, this Agreement shall be
          interpreted and enforceable as if such provision were severed or limited or such payment reduced, but only to the extent necessary to render such provision and this Agreement enforceable.</div>
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement may be executed in two or more counterparts, each of which shall be an original, but all of which together shall
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19200003"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 24.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Amendment</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement may be amended, modified or supplemented only by a written agreement executed by both of the parties hereto.</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;">14</font></div>
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold;">IN WITNESS WHEREOF</font>, the parties hereto have executed this Agreement as of <font style="font-weight: bold;"><u>December 31, 2019</u></font>, to be effective as of the Effective Date.</div>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt; font-weight: bold;">BANK</div>
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            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">&#160;</td>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">&#160;</td>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">By:</div>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">/s/ Craig M. Dwight</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Printed:&#160; <font style="font-weight: bold;">Craig M. Dwight</font></div>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Title:&#160; Chairman and Chief Executive Officer</div>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
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              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">&#160;</td>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt; font-weight: bold;">EMPLOYEE</div>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
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              <td style="width: 47%; vertical-align: top;">&#160;</td>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">By:</div>
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              <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">/s/ Mark E. Secor</div>
              </td>
            </tr>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Printed:&#160; <font style="font-weight: bold;">Mark E. Secor</font></div>
              </td>
            </tr>
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              <td style="width: 47%; vertical-align: top;">
                <div style="line-height: 13.7pt; font-size: 12pt;">Title:&#160; EVP &amp; Chief Financial Officer</div>
              </td>
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<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>hb_8k123119ex104.htm
<DESCRIPTION>CHANGE IN CONTROL AGREEMENT (KATHIE A. DERUITER)
<TEXT>
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      <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.4</font><br>
      </div>
      <div> <br>
      </div>
      <div>&#160;
        <div style="text-align: center; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">HORIZON BANK<br>
          <br style="line-height: 13.7pt;">
          <br>
          CHANGE IN CONTROL AGREEMENT</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">This Change in Control Agreement</font> (&#8220;<font style="font-weight: bold;">Agreement</font>&#8221;),
          dated and effective as of January 1, 2020 (the &#8220;<font style="font-weight: bold;">Effective Date</font>&#8221;), is entered into between <font style="font-variant: small-caps;">Horizon Bank</font> (&#8220;<font style="font-weight: bold;">Bank</font>&#8221;), an
          Indiana state bank, and<font style="font-variant: small-caps;">&#160;</font><font style="font-weight: bold; font-variant: small-caps;"><u>Kathie A. DeRuiter</u></font><font style="font-variant: small-caps;">&#160;</font>(&#8220;<font style="font-weight: bold;">Employee</font>&#8221;),
          a resident of the State of <font style="font-weight: bold;"><u>Michigan</u></font>.</div>
        <div style="text-align: center; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold;">WITNESSETH</font>:</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, Bank is a subsidiary of Horizon Bancorp, Inc. (&#8220;<font style="font-weight: bold;">Holding Company</font>&#8221;), a corporation formed under the laws of the State of Indiana;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, Executive currently serves as an employee of the Bank, either
          as an employee-at-will or pursuant to a written employment agreement;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, the Board of Directors of the Bank (&#8220;<font style="font-weight: bold;">Board</font>&#8221;) has determined that it is in the best interests of the Bank and the Holding Company to assure that the Bank will have the continued dedication and objectivity of Employee, notwithstanding the possibility, threat or
          occurrence of a Change in Control (as defined herein) of the Bank or the Holding Company; and</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, the Board believes that it is in the best interests of the
          Bank and the Holding Company to provide Employee with certain severance benefits following a Change in Control in order to provide Employee with enhanced financial security, to allow the Bank to remain competitive with peers, and to incentivize
          and encourage Employee to remain with the Bank notwithstanding the possibility of a Change in Control.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Now, Therefore</font>, in consideration of the mutual promises herein
          contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Term</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The term of this Agreement shall begin on the Effective Date and, except as otherwise expressly provided herein, automatically terminate
          immediately upon the termination of Employee&#8217;s employment, for any reason, prior to a Change in Control. In the event Employee is still employed by Bank at the time of a Change in Control, then the term shall continue for one (1) year following
          consummation of the Change in Control. Notwithstanding the foregoing, the provisions of Sections 8 &#8211; 24 of this Agreement shall survive any termination of the Term, as provided in Section 12 of this Agreement.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">At-Will Employment</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Unless Employee is a party to a separate written employment agreement with Bank or Holding Company, nothing in this Agreement shall be
          deemed to entitle Employee to continued employment with Bank or any affiliated companies. Employee acknowledges that unless Employee is subject to a separate written employment agreement that provides otherwise, Employee is an at-will employee,
          meaning that either Employee or Bank can terminate the employment relationship at any time, with or without Cause (as defined herein), and that this Agreement shall not change or affect Employee&#8217;s at-will status. If Employee&#8217;s employment with
          Bank terminates prior to a Change in Control, Employee shall have no further rights under this Agreement, except as otherwise provided herein.</div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Change in Control</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition</u></font>.&#160; For purposes of this Agreement, a &#8220;<font style="font-weight: bold;">Change in Control</font>&#8221; shall be deemed to
          have occurred if the conditions or events set forth in any one or more of the following subsections occur:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any merger,
            consolidation or similar transaction which involves Bank or Holding Company and in which persons who are the shareholders of Bank or Holding Company immediately prior to the transaction own, immediately after the transaction, shares of the
            surviving or combined entity which possess voting rights equal to or less than 50 percent of the voting rights of all shareholders of such entity, determined on a fully diluted basis;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any sale, lease,
            exchange, transfer or other disposition of all or substantially all of the consolidated assets of Bank or Holding Company;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any tender,
            exchange, sale or other disposition (other than disposition of the stock of Holding Company or Bank in connection with bankruptcy, insolvency, foreclosure, receivership or other similar transactions) or purchase (other than purchases by Holding
            Company or any Holding Company or Bank-sponsored employee benefit plan, or purchases by members of the board of directors of Holding Company or Bank) of shares which represent more than 25 percent of the voting power of Holding Company or Bank;
            or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">During any period
            of two consecutive years, individuals who at the date of this Agreement constitute the board of directors of Holding Company cease for any reason to constitute at least a majority thereof, unless the election of each director at the beginning
            of the period has been approved by directors representing at least a majority of the directors then in office.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Exceptions</u></font>.&#160; Notwithstanding the provisions of Section 3(a), a Change in Control shall not be deemed to have occurred:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">As a result of the
            issuance of stock by the Holding Company in connection with any public offering of its stock;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">With respect to
            stock ownership by the Horizon Bancorp Employee Stock Ownership Plan Trust (which forms a part of the Horizon Bancorp Employees&#8217; Stock Ownership Plan), the Horizon Bancorp Employee&#8217;s Thrift Plan Trust (which forms a part of the Horizon Bancorp
            Employee&#8217;s Thrift Plan), or any other employee benefit plan; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">With
              respect to any payment or benefit provided under the Agreement to which Section&#160;409A of the Internal Revenue Code of 1986, as amended (the &#8220;</font><font style="font-weight: bold; color: #000000;">Internal Revenue Code</font><font style="color: #000000;">&#8221;), is applicable and for which a change in control event is required, unless the event related to such payment or benefit constitutes a &#8220;change in control&#8221; for purposes of Section&#160;409A.</font></font></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;">2</font></div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Double-Trigger Severance Benefits in Connection with a Change in Control and a Qualifying Termination</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;"><u>(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination Period</u></font>.&#160; In connection with a Change in Control, Employee will be entitled to the severance benefits set forth in this Section 4
          if during the six (6) month period prior to a Change in Control or during the one (1) year period following consummation of a Change in Control, either of the following two qualifying terminations occurs: (i) Bank terminates Employee&#8217;s employment
          for any reason other than for Cause (as hereafter defined); or (ii) Employee resigns for Good Reason (as hereafter defined) in accordance with the provisions of Section 6; (each of the terminations described in (i) and (ii) hereof shall be
          referred to as a &#8220;<font style="font-weight: bold;">Qualifying Termination</font>&#8221;).</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;"><u>Conditions to Receipt
                of Severance Benefits.</u></font><font style="color: #000000;">&#160; Employee&#8217;s entitlement to the severance payments set forth in this Section 4 shall be contingent upon Employee&#8217;s execution (and non-revocation) of a release of claims relating
              to Employee&#8217;s employment by the Bank, Holding Company, and/or any of their Affiliates in favor of such parties in a form reasonably acceptable to, and provided by, Bank (the &#8220;</font><font style="font-weight: bold; color: #000000;">Release</font><font style="color: #000000;">&#8221;). Bank will set a deadline for return of the Release that will be no later than sixty (60) days following the later of the Employee&#8217;s Qualifying Termination or Change in Control, as applicable, and the Release must
              remain unrevoked during any revocation period. No severance benefits shall be paid to Employee under this Agreement if the Release is not executed by Employee and returned to Bank by such deadline. In addition, Employee must be and remain in
              compliance with the provisions of Sections 8 &#8211; 10 of this Agreement.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt; margin-left: 9pt;"><font style="color: #000000;"><u>(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Severance Benefits Provided</u></font>.&#160; Upon a Qualifying Termination and subject to Employee&#8217;s compliance with
          Sections 8 - 10 hereof and Employee&#8217;s timely execution and delivery of the Release, Bank will pay or provide to Employee the following amounts and benefits:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">That portion of
            Employee&#8217;s base salary earned through the date of termination, payable in accordance with normal payroll practices commencing as of the first payroll period following Employee&#8217;s return of the executed Release and the lapse of all applicable
            revocation periods, or as soon as administratively practicable thereafter;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">A
              lump sum amount equal to </font><font style="font-weight: bold; color: #000000;"><u>2.00 times</u></font><font style="color: #000000;"> Employee&#8217;s annual base salary in effect as of the date immediately preceding the date of termination plus
              a single sum payment equal to the average of the Employee&#8217;s total cash bonuses paid or payable for the last two calendar years preceding the date of termination multiplied by a factor of </font><font style="font-weight: bold; color: #000000;"><u>1.00</u></font><font style="color: #000000;">, all payable as of the date of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively
              practicable thereafter;</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">Continued
              participation in the group health insurance and group life insurance benefits which Employee was eligible to participate in or receive on the day prior to the date of termination (&#8220;</font><font style="font-weight: bold; color: #000000;">Insurance

              Programs</font><font style="color: #000000;">&#8221;), beginning on the date of termination and continuing for a period of </font><font style="font-weight: bold; color: #000000;"><u>twelve (12) months</u></font><font style="color: #000000;"> (&#8220;</font><font style="font-weight: bold; color: #000000;">Benefit Continuation Term</font><font style="color: #000000;">&#8221;), but only to the extent Employee continues to qualify for participation therein and takes all actions required in connection with such
              participation (including participation through Employee&#8217;s timely election of COBRA continuation coverage). If Employee is not permitted to continue participation in those Insurance Programs for any portion of the Benefit Continuation Term,
              Bank will reimburse Employee for the cost of health insurance and life insurance benefits for the Benefit Continuation Term, subject to the Employee timely providing evidence of</font></font></div>
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        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">payment for such benefits; <font style="font-style: italic;">provided, however</font>, the amount of these benefits
          will be limited to an amount equal to 110% of Bank&#8217;s cost of providing comparable benefits under the Insurance Programs and provided that Employee shall receive the entire amount payable under this Section 4(c)(iii) no later than the end of the
          second calendar year following the Qualifying Termination;</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">All amounts that
            have vested or accrued prior to or on the date of termination (or otherwise are or become payable to Employee) under all incentive compensation or other qualified and non-qualified employee benefit plans of the Holding Company or Bank in
            accordance with the provisions of such plans and past practices of Holding Company or Bank, including without limitation, any Bank contributions or matches related to those amounts. For purposes of clarification, the intent of this Section is
            for Employee to receive all amounts attributable to Employee&#8217;s participation in such plans, as now or hereafter existing, up to and including the date of termination, regardless of whether the amounts are historically deposited or credited to
            individual employee accounts or subject to Board of Director approval on a date beyond the date of termination, and Bank agrees to compute and pay, deposit or credit all such amounts as soon as possible after the date of termination if not
            capable of being calculated, paid, deposited or credited prior to the date of termination;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">An amount equal to
            the partial year bonus which Employee would have earned based on the then-current bonus plan of the Bank in the year a Change in Control occurred, as measured through the effective date of a Change in Control based on the then-current financial
            results, determined by the Bank in its discretion, payable as of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively practicable thereafter;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding the
            foregoing, all options granted to Employee to purchase shares of common stock of the Holding Company and all performance shares and shares of restricted stock of the Holding Company (whether such options, performance shares and restricted
            shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and Employee.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(d)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Suspension and Termination of Severance Benefits</u></font>.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">If
              Employee is removed and/or permanently prohibited from participating in the conduct of the Bank&#8217;s affairs by an order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (&#8220;</font><font style="font-weight: bold; color: #000000;">FDIA</font><font style="color: #000000;">&#8221;) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of Bank and Holding Company under this Agreement shall terminate as of the effective date of the order, but vested rights of the
              parties shall not be affected.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">If the Bank is in
            default (as defined in Section 3(x)(1) of FDIA), all obligations of Bank and Holding Company under this Agreement shall terminate as of the date of default; however, this subsection shall not affect the vested rights of the parties.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">All
              obligations of Bank and Holding Company under this Agreement shall terminate, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (A) by the Indiana Department of Financial
              Institutions (the &#8220;</font><font style="font-weight: bold; color: #000000;">DFI</font><font style="color: #000000;">&#8221;) or its designee, or the Bank&#8217;s primary federal regulator at the time</font></font></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">
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">that the Federal Deposit Insurance Corporation (&#8220;<font style="font-weight: bold;">FDIC</font>&#8221;) enters into an agreement
          to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of FDIA; or (B) by the DFI, or its designee, or the Bank&#8217;s primary federal regulator, at the time that the DFI, or its designee, or the Bank&#8217;s
          primary federal regulator, approves a supervisory merger to resolve problems related to the operation of the Bank or when the Bank is determined by the DFI, or the Bank&#8217;s primary federal regulator, to be in an unsafe or unsound condition. Any
          such action shall not affect any vested rights of the parties.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">If a notice served
            under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) or (g)(1)) suspends and/or temporarily prohibits Employee from participating in the conduct of the Bank&#8217;s affairs, Bank&#8217;s and Holding Company&#8217;s obligations under this Agreement
            shall be suspended as of the effective date of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Bank shall (A) pay Employee all or part of the compensation withheld while its contract
            obligations were suspended, and/or (B) reinstate (in whole or in part) any of its obligations which were suspended.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding
            anything to the contrary contained herein, Employee acknowledges and agrees that any payments made to Employee pursuant to this Agreement, or otherwise, are subject to and conditioned upon compliance with the provisions of 12 U.S.C. 1828(k) and
            Part 359 of the FDIC&#8217;s regulations (12 C.F.R. Part 359), which provisions contain certain prohibitions and limitations on making &#8220;golden parachute&#8221; and certain indemnification payments by FDIC-insured institutions and their holding companies.
            In the event any payments to Employee pursuant to this Agreement are prohibited or limited by the provisions of such statute and/or regulations, Bank and/or Holding Company (A) shall pay the maximum amount that may be paid after applying such
            limitations; and (B) will use commercially reasonable efforts to obtain the consent of the appropriate regulatory authorities to the payment of any amount that otherwise cannot be paid due to the application of such limitations. Employee agrees
            that Bank and/or Holding Company shall not have breached any obligations under this Agreement if they are unable to pay all or some portion of any payment due to Employee as a result of the application of these limitations.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;"><u>Effect of Section 409A of the
              Internal Revenue Code.</u></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">To the
              extent a Change in Control qualifies as a &#8220;change in control&#8221; for purposes of Section 409A of the Internal Revenue Code, the parties intend that any payments made or benefits received pursuant to this Section 4, or otherwise received by
              Employee, shall be exempt from, or comply with, Section 409A of the Internal Revenue Code and all Treasury Regulations and guidance promulgated thereunder (&#8220;</font><font style="font-weight: bold; color: #000000;">Section 409A</font><font style="color: #000000;">&#8221;). To the maximum extent permitted, this Agreement shall be limited, construed and interpreted in accordance with such intent. In no event whatsoever shall Bank, Holding Company, any Affiliates, and/or their
              respective officers, directors, employees or agents be liable for any additional tax, interest or penalties that may be imposed on Employee by Section 409A or damages for failing to comply with Section 409A.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding any
            other provision of this Agreement to the contrary, if at the time of Employee&#8217;s separation from service (as defined in Section 409A) Employee is a &#8220;Specified Employee&#8221; within the meaning and in accordance with Treasury Regulation Section</font></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">
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">1.409A-1(i), then Bank will defer the payment or commencement of any nonqualified deferred compensation subject to
          Section 409A payable upon separation from service (without any reduction in such payments or benefits ultimately paid or provided to Employee) until the date that is six (6) months following separation from service or, if earlier, the earliest
          other date as is permitted under Section 409A. Any amounts that otherwise would have been paid during this deferral period will be paid in a lump sum on the day after the expiration of the six (6) month period or such shorter period, if
          applicable.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118236"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Termination for Cause</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of &#8220;Cause&#8221;</u></font>.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Cause</font>&#8221; is defined as any of the
          following actions:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">An
              intentional act of fraud, embezzlement, theft, or personal dishonesty; willful misconduct, or breach of fiduciary duty involving personal profit by Employee in the course of Employee&#8217;s employment; </font><font style="font-style: italic; color: #000000;">provided, however, </font><font style="color: #000000;">that (A) no act or failure to act will be deemed to have been intentional or willful if it was due primarily to an error in judgment or negligence; and (B) an act or
              failure to act will only be considered intentional or willful if it is not in good faith and if it is without a reasonable belief that the action or failure to act is in the best interest of Bank or Holding Company;</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Intentional damage
            by Employee to the business or property of Bank or Holding Company, causing material harm to Bank or Holding Company;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Material breach by
            Employee of any provision of this Agreement or any employment agreement the Employee is a party to;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Gross negligence or
            insubordination by Employee in the performance of Employee&#8217;s duties, or the Employee&#8217;s refusal or repeated failure to carry out lawful directives of the Board of Directors of Bank or Holding Company or of any other supervisor; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Removal or permanent
            prohibition of Employee from participating in the conduct of the affairs of Bank or Holding Company by an order issued under subsection 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12&#160;USC&#160;&#167;&#167;&#160;1818(e)(4) and (g)(1).</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Procedure for a Termination for Cause</u></font>.&#160; Bank, upon written notice to Employee, may terminate Employee&#8217;s employment for Cause, which will
          terminate Employee&#8217;s employment and right to compensation immediately, except in the limited case expressly provided herein with respect to Causes that are curable. The written notice will (i) indicate the specific provisions of this Agreement
          relied upon for such termination; (ii) set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination; (iii) state whether the Board of Directors of Bank has determined in good faith that the issue is
          curable; and (iv) if the issue has been deemed curable, describe the steps, actions, events or other items that must be taken, completed or followed by Employee to correct or cure the basis for such termination. If (but only if) the basis for
          termination has been deemed curable by the Board of Directors, then Employee will have thirty (30) days following the effective date of such notice to fully correct and cure the basis for the termination of Employee&#8217;s employment. If Employee does
          not fully correct and cure the basis for the termination of Employee&#8217;s employment within such 30-day period, then Bank will have the right to terminate Employee&#8217;s employment with Bank immediately for Cause upon delivering to Employee a second
          written notice</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;">6</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">of termination and without any further cure period. Unless otherwise specified in the written notice, the date of termination shall be the date of the
          first written notice, in the case of an uncurable Cause, and shall be the date of the second written notice, in the case of a curable but uncured Cause.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect on Other Written Agreements</u></font>.&#160; Bank intends the provisions of this Section 5 relating to a termination for Cause to be
          consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Cause, the provisions of this Agreement shall prevail in all cases following a Change in Control.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118215"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Termination for Good Reason</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of &#8220;Good Reason&#8221;</u></font>.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Good Reason</font>&#8221; is defined as
          the occurrence of any of the following events:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The requirement that
            Employee move Employee&#8217;s office to a location more than thirty (30) miles from Employee&#8217;s principal residence as of the Effective Date;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A reduction in
            Employee&#8217;s then-current annual base salary;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The removal of
            Employee from participation in any incentive compensation or performance-based compensation plans without replacement with a comparable or superior substitute plan or otherwise compensating Employee in an amount substantially equivalent to the
            value of the lost benefit;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M75"></a><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The taking of any action by Bank or Holding Company which would directly or indirectly reduce any material benefit plan or program or deprive Employee of any such benefit enjoyed by Employee;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M76"></a><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The assignment to Employee of duties and responsibilities materially different from those normally associated with Employee&#8217;s position;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M77"></a><a name="z_DV_M78"></a><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A material diminution or reduction in Employee&#8217;s duties, responsibilities or authority (including reporting responsibilities) normally associated with Employee&#8217;s position;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any action by Bank
            to remove Employee from Employee&#8217;s then-current officer position or materially change Employee&#8217;s title, except for promotions;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M79"></a><font style="font-size: 12pt; color: #010000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A material breach by Bank of any provision of this Agreement, other than a breach justifying termination pursuant to any other provision of this Agreement; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">To the extent such
            assumption does not occur as a matter of law, any failure of Bank or Holding Company to obtain the assumption of the obligation to perform this Agreement by any successor, including upon a Change in Control.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Procedure for a Termination for Good Reason</u></font>.&#160; Employee, by written notice to Bank, may terminate Employee&#8217;s employment with Bank
          for Good Reason. For Employee to have the right to resign for Good Reason, all of the following must timely occur: (i) Employee must provide Bank with written notice of the occurrence of any of the Good Reason events within ninety (90) days</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;">7</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">immediately following the first occurrence of such event, and such notice must describe in detail the Good Reason event and the proposed cure to such
          event; (ii) Bank must fail to cure such event within a period of thirty (30) days from the date of receipt of such notice; and (iii) a second written notice of termination is delivered by Employee to Bank within ninety (90) days following the day
          on which the 30-day period set forth in the preceding clause (ii) expires. Unless otherwise specified in the second written notice, the date of termination shall be the date of the second written notice.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect on Other Written Agreements</u></font>.&#160; Bank intends the provisions of this Section 6 relating to a termination for Good Reason to
          be consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Good Reason, the provisions of this Agreement shall prevail in all cases following a Change in Control.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19198625"></a><a name="z_Ref461026370"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Terminations for Other Reasons</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination by Bank without Cause</u></font>.&#160; Upon thirty (30) days&#8217; written notice to Employee, Bank may terminate Employee&#8217;s employment
          without Cause.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination by Employee without Good Reason</u></font>.&#160; Employee, upon sixty (60) days&#8217; written notice to Bank, may terminate Employee&#8217;s
          employment without Good Reason.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026165"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Disclosure; Return of Confidential Information and Other Property</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Access to Confidential Information</u></font>.&#160; Employee understands, acknowledges and agrees that during the course of Employee&#8217;s employment with
          Bank, Employee will gain information regarding, knowledge of and familiarity with the Confidential Information (as hereinafter defined) of Bank and its Affiliates and that if the Confidential Information was disclosed by Employee, Bank or any
          Affiliates would suffer irreparable damage and harm. Employee understands, acknowledges and agrees that the Confidential Information derives substantial economic value from, among other reasons, not being known or readily ascertainable by proper
          means by others who could obtain economic value therefrom upon disclosure. Employee acknowledges and agrees that Bank and all Affiliates use reasonable means to maintain the secrecy and confidentiality of the Confidential Information. For
          purposes of this Agreement, the term &#8220;Affiliate&#8221; means Holding Company and all subsidiaries of Holding Company and its subsidiaries.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Non-Disclosure</u></font>.&#160; At all times while Employee is employed by Bank, and at all times thereafter, Employee shall not (i) directly or indirectly
          disclose, provide or discuss any Confidential Information with or to any Person (as hereinafter defined) other than those directors, officers, employees, representatives and agents of Bank and any Affiliates who need to know such Confidential
          Information for a proper corporate purpose, and (ii) directly or indirectly use any Confidential Information (A) to compete against Bank or any Affiliates, or (B) for Employee&#8217;s own benefit or for the benefit of any Person other than Bank or any
          Affiliate. Employee agrees that all Confidential Information at all times shall remain the property of, as applicable, Bank or its Affiliates.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Confidential Information Defined</u></font>.&#160; For purposes of this Agreement, the term &#8220;Confidential Information&#8221; means any and all:</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;">8</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>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">materials, records,
            data, documents, lists, writings and information (whether in writing, printed, verbal, electronic, computerized, on disk or otherwise) (A) relating or referring in any manner to the business, operations, affairs, financial condition, results of
            operation, cash flow, assets, liabilities, sales, revenues, income, estimates, projections, policies, strategies, techniques, methods, products, developments, suppliers, relationships and/or customers of Bank or any Affiliate that are
            confidential, proprietary or not otherwise publicly available, in any event not without a breach of this Agreement, or (B) that Bank or any Affiliate has deemed confidential, proprietary or nonpublic;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">trade secrets of
            Bank or any Affiliate, as defined in Indiana Code Section 24&#8209;2&#8209;3&#8209;2, as amended, or any successor statute; and</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">any and all
            copies, summaries, analyses and extracts which relate or refer to or reflect any of the items set forth in (i) or (ii) above.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(d)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of Person</u></font>.&#160; For purposes of this Agreement, the term &#8220;Person&#8221; shall mean any natural person, proprietorship, partnership,
          corporation, limited liability company, bank, organization, firm, business, joint venture, association, trust or other entity and any government agency, body or authority.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;"><u>(e)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Return of Confidential Information and Other Property</u></font>.&#160; Employee covenants and agrees:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">to keep all
            Confidential Information subject to Bank&#8217;s or any Affiliate&#8217;s custody and control and to promptly return to Bank or the appropriate Affiliate all Confidential Information that is still in Employee&#8217;s possession or control at the termination of
            Employee&#8217;s employment with Bank; and</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">promptly upon
            termination of Employee&#8217;s employment with Bank, to return to Bank, at Bank&#8217;s principal office, all vehicles, equipment, computers, credit cards and other property of Bank and to cease using any of the foregoing.</font></div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026178"></a><a name="z_Ref19118334"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Solicitation of Customers and Employees</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Obligations of Employee</u></font>.&#160; During the Term, and for <font style="font-weight: bold;"><u>two (2) years</u></font><font style="font-weight: bold;">&#160;</font>thereafter, Employee will not in a competitive capacity (as defined in Section 10), on behalf of any person or entity other than Bank or any Affiliate, directly or indirectly:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one year preceding
            Employee&#8217;s separation,</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert
            (or attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate about whom Employee obtained Confidential Information;</font></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;">9</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one
            year preceding Employee&#8217;s separation,</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate about whom Employee has obtained confidential or proprietary information;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">encourage,
            solicit, induce, or attempt to encourage, solicit or induce any employee, service provider, agent or representative of Bank or any Affiliate, who (a) has access to, or possesses, Confidential Information, trade secrets, or other knowledge
            regarding the Bank or any Affiliate that could give a competitor an unfair advantage, or (b) within the preceding two years, has serviced or established goodwill with the Bank&#8217;s customers or acquired confidential information about those
            customers, or (c) was someone Employee had worked with, or supervised in Employee&#8217;s last two-years of employment (hereafter defined as an &#8220;Individual&#8221;), to leave his/her employment or terminate his/her relationship with Bank or any Affiliate or
            devote less than full time efforts to Bank&#8217;s or an Affiliate&#8217;s business; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">hire
              or attempt to hire, for any competitive or other position with any competitor or other business, any Individual&#160; who has been an employee of Bank or any Affiliate at any time within the preceding one year; </font><font style="font-style: italic; color: #000000;">provided, however, </font><font style="color: #000000;">that Employee shall not be deemed to have violated this Section if an employee responds to a general advertisement for employment with the competitor.</font></font></div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118294"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 10.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Competition</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>During Employment</u></font>.&#160; During Employee&#8217;s employment, Employee shall not, directly or indirectly, have any ownership interest in,
          work for, advise, manage, act as an agent or consultant for, or have any business connection or business or employment relationship with, any entity or person which competes with Bank or any of its Affiliates.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Following Termination of Employment</u></font>.&#160; For a period of <font style="font-weight: bold;"><u>two (2) years</u></font><font style="font-weight: bold;">&#160;</font>after Employee&#8217;s separation from Bank for any reason, Employee shall not:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in the states of
            Indiana and/or Michigan;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in any Indiana
            county or Michigan county in which Bank maintains a branch or other office;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in any Indiana
            county or Michigan county in which customers of Bank reside or maintain a facility;</font></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;">10</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in the geographic
            area in which Employee has been performing services on behalf of Bank, or for which Employee has been assigned responsibility, at any time within one (1) year preceding Employee&#8217;s separation;</font></div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">directly or indirectly own, manage, finance, operate, control or participate in ownership, management, or operation of, act as an agent, consultant, or be
          employed in a Competitive Capacity with, any banking or financial institution which competes with Bank or any of its Affiliates. Employee further agrees that during that same period, Employee will not assist in the research and development of
          products or services (A) where such research and development would be aided by the Confidential Information learned in the course of Employee&#8217;s relationship with Bank; or (B) which compete with those products or services of Bank or any Affiliate.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of &#8220;Competitive Capacity&#8221;</u></font>.&#160; For purposes of this Agreement, the term &#8220;<font style="font-weight: bold;">Competitive
            Capacity</font>&#8221; shall mean (i) performing tasks or duties similar to those Employee performed at Bank or any Affiliate for a competitor of Bank; (ii) managing/supervising those who, for a competitor of Bank, perform tasks or duties similar to
          those which Employee performed at Bank; or (iii) performing, on behalf of a competitor of Bank, tasks or duties in which Employee utilized any Confidential Information that Employee learned in the course of Employee&#8217;s relationship with Bank or
          any Affiliate.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118951"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 11.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Periods of Noncompliance and Reasonableness of Periods</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Acknowledgment</u></font>.&#160; Bank and Employee understand, acknowledge and agree that the restrictions and covenants contained in Sections 8,
          9 and 10 hereof are reasonable in view of the nature of the business in which Bank and the Affiliates are engaged, Employee&#8217;s position with Bank and the Affiliates and Employee&#8217;s advantageous knowledge of and familiarity with the business,
          operations, affairs and customers of Bank and the Affiliates. Employee acknowledges that the various covenants, restrictions and obligations set forth in those Sections are separate and independent obligations, and may be enforced separately or
          in any combination.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect of Employee Breach</u></font>.&#160; The time periods during which the restrictions and covenants of Sections 8, 9 and 10 are applicable
          will be extended by a period of time equal to any period during which Employee is not in compliance with such restrictions and covenants. Bank&#8217;s obligation to pay the amounts otherwise payable to Employee pursuant to this Agreement shall
          immediately terminate in the event that Employee breaches any of the provisions of Sections 8, 9 and 10 hereof. Notwithstanding the foregoing, (i) the covenants of Employee set forth in Sections 8, 9 and 10 hereof shall continue in full force and
          effect and be binding upon Employee; (ii) Bank shall be entitled to the remedies specified in Section 13 hereof; and (iii) Bank shall be entitled to its damages, costs and expenses (including, without limitation, reasonable attorney&#8217;s fees and
          expenses) resulting from or relating to Employee&#8217;s breach of any of the provisions of Sections Section 8, 9 or 10 hereof.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect of Bank Breach</u></font>.&#160; Bank and Employee understand, acknowledge and agree that Employee&#8217;s entitlement to special severance
          benefits upon a Qualifying Termination following a Change in Control, and the other provisions benefiting Employee under this Agreement, are a material part of the consideration for the restrictions contained in Sections 8, 9 and 10 of this
          Agreement. Accordingly, if Bank breaches any of its material obligations to Employee that arise following termination of Employee for any reason, and the breach is not cured within thirty (30) days of written</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;">11</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">notice of the breach, then Employee&#8217;s obligations under Sections 8, 9 and 10 of this Agreement shall be suspended.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026651"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 12.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Survival of Certain Provisions</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Employee hereby expressly agrees that upon any termination of the Term of this Agreement due to Employee&#8217;s termination of employment
          with Bank or otherwise, the provisions of Sections 8 - 24 hereof shall continue to be in full force and effect and binding upon Employee in accordance with the respective provisions of such Sections (except in the case of Bank breach as described
          in Section 11).</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026567"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 13.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Remedies</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Employee agrees that Bank or an Affiliate will suffer irreparable damage and injury and will not have an adequate remedy at law in the
          event of any actual, threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10. Accordingly, in the event of a breach or a threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10, in addition to
          all other remedies to which Bank and Affiliates are entitled at law, in equity or otherwise, Bank and Affiliates may be entitled to a temporary restraining order and a permanent injunction or a decree of specific performance of any provision of
          Sections 8, 9 or 10. The foregoing remedies shall not be deemed to be the exclusive rights or remedies of Bank or an Affiliate for any breach of or noncompliance with this Agreement by Employee but shall be in addition to all other rights and
          remedies available to Bank or an Affiliate at law, in equity or otherwise.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118048"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Section&#160;280G</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Anything in this Agreement to the contrary notwithstanding, in the event Bank&#8217;s independent public accountants or counsel determine that
          any payment by Bank to or for the benefit of Employee, whether paid or payable pursuant to the terms of this Agreement or otherwise, would be non-deductible by Bank for federal income tax purposes because of Section&#160;280G of the Internal Revenue
          Code, the amount payable to or for the benefit of Employee pursuant to this Agreement and all other arrangements shall be reduced (but not below zero) in a manner determined by Holding Company to the Reduced Amount. For purposes of this Section
          14, the &#8220;<font style="font-weight: bold;">Reduced Amount</font>&#8221; shall be the amount which maximizes the amount payable without causing the payment to be non-deductible by Bank because of Section&#160;280G. If two economically equivalent amounts are
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 15.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Successors and Assigns</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement is binding upon and shall be for the benefit of the successors and assigns of Bank and Holding Company, including any
          corporation or any other form of business organization with which Bank or Holding Company may merge or consolidate, or to which it may transfer substantially all of its assets. Bank or Holding Company shall require any successor to expressly
          assume and agree, in writing, to perform this Agreement and any successor shall absolutely and unconditionally assume all of Bank&#8217;s and Holding Company&#8217;s obligations hereunder. Failure of Bank or Holding Company to obtain such agreement prior to
          the effectiveness of any such succession shall be a material breach of this Agreement and shall entitle Employee to terminate employment with Bank for Good Reason pursuant to Section 6 of this Agreement. As used in this Agreement, &#8220;Bank&#8221; shall
          mean Bank as hereinbefore defined and any successor to its business and/or assets. This Agreement may not be assigned by Bank or Holding Company without the prior written consent of Employee,</div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">which consent shall not be unreasonably withheld. The Agreement will also be binding upon, enforceable against, and inure to the benefit of Employee and
          Employee&#8217;s heirs and representatives, and nothing herein is intended to confer any right, remedy or benefit upon any other person. Employee shall not assign Employee&#8217;s interest in this Agreement or any part thereof.</div>
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Any act, request, approval, consent or opinion of Bank under this Agreement, must be in writing and may be authorized, given or
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">All notices, requests and other communications under this Agreement will be in writing (which will include facsimile communication) and
          will be deemed to have been duly given if (a) delivered by hand; (b) sent by certified United States Mail, return receipt requested, first class postage pre-paid; (c) sent by overnight delivery service; or (d) sent by facsimile transmission if
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              <td style="width: 5%; vertical-align: top;">&#160;</td>
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              <td style="width: 5%; vertical-align: top;">&#160;</td>
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              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Michigan City, IN 46360</div>
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            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Attn:&#160; Chief Executive Officer</div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 18.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Governing Law</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement shall be governed by and construed in accordance with the laws of the State of Indiana applicable to contracts made and
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 19.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Enforcement Expenses</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">If a dispute arises regarding the termination of Employee or as to the interpretation or enforcement of this Agreement and Employee
          obtains a final judgment in Employee&#8217;s favor in a court of competent jurisdiction or Employee&#8217;s claim is settled by Bank prior to the rendering of a judgment by such a court, all reasonable legal fees and expenses incurred by Employee in
          contesting or disputing any such termination or seeking to obtain or enforce any right or benefit provided for in this Agreement or otherwise pursuing Employee&#8217;s claims shall be paid by Bank (except as otherwise decided in any settlement between
          the parties) to the extent permitted by law.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 20.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Superseding Prior Agreements; Entire Agreement</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The Employee, Bank and Holding Company agree that as long as the provisions of Sections 8, 9 and 10 are in effect, those provisions
          shall supersede and replace any similar restrictions in any other agreement between the parties, including, but not limited to, any employment agreement,</div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">non&#8209;competition or non-solicitation agreement, and any equity award agreement or plan relating thereto. This Agreement sets forth the entire understanding
          of the parties hereto with respect to its subject matter, merges and supersedes all prior and contemporaneous understandings with respect to its subject matter, and may not be waived or modified, in whole or in part, except by a writing signed by
          each of the parties hereto. No waiver of any provision of this Agreement in any instance shall be deemed to be a waiver of the same or any other provision in any other instance.</div>
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The headings in this Agreement have been inserted solely for ease of reference and shall not be considered in the interpretation or
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, this Agreement shall be
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">&#160;</td>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
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              <td style="width: 47%; vertical-align: top;">&#160;</td>
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              <td style="width: 3%; vertical-align: top;">&#160;</td>
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<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>hb_8k123119ex105.htm
<DESCRIPTION>CHANGE IN CONTROL AGREEMENT (DENNIS J. KUHN)
<TEXT>
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      <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.5</font><br>
      </div>
      <div> <br>
      </div>
      <div>&#160;
        <div style="text-align: center; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">HORIZON BANK<br>
          <br style="line-height: 13.7pt;">
          <br>
          CHANGE IN CONTROL AGREEMENT</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">This Change in Control Agreement</font> (&#8220;<font style="font-weight: bold;">Agreement</font>&#8221;),
          dated and effective as of January 1, 2020 (the &#8220;<font style="font-weight: bold;">Effective Date</font>&#8221;), is entered into between <font style="font-variant: small-caps;">Horizon Bank</font> (&#8220;<font style="font-weight: bold;">Bank</font>&#8221;), an
          Indiana state bank, and<font style="font-variant: small-caps;">&#160;</font><font style="font-weight: bold; font-variant: small-caps;"><u>Dennis J. Kuhn</u></font><font style="font-variant: small-caps;">&#160;</font>(&#8220;<font style="font-weight: bold;">Employee</font>&#8221;),
          a resident of the State of <font style="font-weight: bold;"><u>Michigan</u></font>.</div>
        <div style="text-align: center; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold;">WITNESSETH</font>:</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, Bank is a subsidiary of Horizon Bancorp, Inc. (&#8220;<font style="font-weight: bold;">Holding Company</font>&#8221;), a corporation formed under the laws of the State of Indiana;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, Executive currently serves as an employee of the Bank, either
          as an employee-at-will or pursuant to a written employment agreement;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, the Board of Directors of the Bank (&#8220;<font style="font-weight: bold;">Board</font>&#8221;) has determined that it is in the best interests of the Bank and the Holding Company to assure that the Bank will have the continued dedication and objectivity of Employee, notwithstanding the possibility, threat or
          occurrence of a Change in Control (as defined herein) of the Bank or the Holding Company; and</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, the Board believes that it is in the best interests of the
          Bank and the Holding Company to provide Employee with certain severance benefits following a Change in Control in order to provide Employee with enhanced financial security, to allow the Bank to remain competitive with peers, and to incentivize
          and encourage Employee to remain with the Bank notwithstanding the possibility of a Change in Control.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Now, Therefore</font>, in consideration of the mutual promises herein
          contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Term</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The term of this Agreement shall begin on the Effective Date and, except as otherwise expressly provided herein, automatically terminate
          immediately upon the termination of Employee&#8217;s employment, for any reason, prior to a Change in Control. In the event Employee is still employed by Bank at the time of a Change in Control, then the term shall continue for one (1) year following
          consummation of the Change in Control. Notwithstanding the foregoing, the provisions of Sections 8 &#8211; 24 of this Agreement shall survive any termination of the Term, as provided in Section 12 of this Agreement.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">At-Will Employment</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Unless Employee is a party to a separate written employment agreement with Bank or Holding Company, nothing in this Agreement shall be
          deemed to entitle Employee to continued employment with Bank or any affiliated companies. Employee acknowledges that unless Employee is subject to a separate written employment agreement that provides otherwise, Employee is an at-will employee,
          meaning that either Employee or Bank can terminate the employment relationship at any time, with or without Cause (as defined herein), and that this Agreement shall not change or affect Employee&#8217;s at-will status. If Employee&#8217;s employment with
          Bank terminates prior to a Change in Control, Employee shall have no further rights under this Agreement, except as otherwise provided herein.</div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Change in Control</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition</u></font>.&#160; For purposes of this Agreement, a &#8220;<font style="font-weight: bold;">Change in Control</font>&#8221; shall be deemed to
          have occurred if the conditions or events set forth in any one or more of the following subsections occur:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any merger,
            consolidation or similar transaction which involves Bank or Holding Company and in which persons who are the shareholders of Bank or Holding Company immediately prior to the transaction own, immediately after the transaction, shares of the
            surviving or combined entity which possess voting rights equal to or less than 50 percent of the voting rights of all shareholders of such entity, determined on a fully diluted basis;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any sale, lease,
            exchange, transfer or other disposition of all or substantially all of the consolidated assets of Bank or Holding Company;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any tender,
            exchange, sale or other disposition (other than disposition of the stock of Holding Company or Bank in connection with bankruptcy, insolvency, foreclosure, receivership or other similar transactions) or purchase (other than purchases by Holding
            Company or any Holding Company or Bank-sponsored employee benefit plan, or purchases by members of the board of directors of Holding Company or Bank) of shares which represent more than 25 percent of the voting power of Holding Company or Bank;
            or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">During any period
            of two consecutive years, individuals who at the date of this Agreement constitute the board of directors of Holding Company cease for any reason to constitute at least a majority thereof, unless the election of each director at the beginning
            of the period has been approved by directors representing at least a majority of the directors then in office.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Exceptions</u></font>.&#160; Notwithstanding the provisions of Section 3(a), a Change in Control shall not be deemed to have occurred:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">As a result of the
            issuance of stock by the Holding Company in connection with any public offering of its stock;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">With respect to
            stock ownership by the Horizon Bancorp Employee Stock Ownership Plan Trust (which forms a part of the Horizon Bancorp Employees&#8217; Stock Ownership Plan), the Horizon Bancorp Employee&#8217;s Thrift Plan Trust (which forms a part of the Horizon Bancorp
            Employee&#8217;s Thrift Plan), or any other employee benefit plan; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">With
              respect to any payment or benefit provided under the Agreement to which Section&#160;409A of the Internal Revenue Code of 1986, as amended (the &#8220;</font><font style="font-weight: bold; color: #000000;">Internal Revenue Code</font><font style="color: #000000;">&#8221;), is applicable and for which a change in control event is required, unless the event related to such payment or benefit constitutes a &#8220;change in control&#8221; for purposes of Section&#160;409A.</font></font></div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Double-Trigger Severance Benefits in Connection with a Change in Control and a Qualifying Termination</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination Period</u></font>.&#160; In connection with a Change in Control, Employee will be entitled to the severance benefits set forth in
          this Section 4 if during the six (6) month period prior to a Change in Control or during the one (1) year period following consummation of a Change in Control, either of the following two qualifying terminations occurs: (i) Bank terminates
          Employee&#8217;s employment for any reason other than for Cause (as hereafter defined); or (ii) Employee resigns for Good Reason (as hereafter defined) in accordance with the provisions of Section 6; (each of the terminations described in (i) and (ii)
          hereof shall be referred to as a &#8220;<font style="font-weight: bold;">Qualifying Termination</font>&#8221;).</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;"><u>Conditions to Receipt
                of Severance Benefits.</u></font><font style="color: #000000;">&#160; Employee&#8217;s entitlement to the severance payments set forth in this Section 4 shall be contingent upon Employee&#8217;s execution (and non-revocation) of a release of claims relating
              to Employee&#8217;s employment by the Bank, Holding Company, and/or any of their Affiliates in favor of such parties in a form reasonably acceptable to, and provided by, Bank (the &#8220;</font><font style="font-weight: bold; color: #000000;">Release</font><font style="color: #000000;">&#8221;). Bank will set a deadline for return of the Release that will be no later than sixty (60) days following the later of the Employee&#8217;s Qualifying Termination or Change in Control, as applicable, and the Release must
              remain unrevoked during any revocation period. No severance benefits shall be paid to Employee under this Agreement if the Release is not executed by Employee and returned to Bank by such deadline. In addition, Employee must be and remain in
              compliance with the provisions of Sections 8 &#8211; 10 of this Agreement.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Severance Benefits Provided</u></font>.&#160; Upon a Qualifying Termination and subject to Employee&#8217;s compliance with Sections 8 - 10 hereof and
          Employee&#8217;s timely execution and delivery of the Release, Bank will pay or provide to Employee the following amounts and benefits:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">That portion of
            Employee&#8217;s base salary earned through the date of termination, payable in accordance with normal payroll practices commencing as of the first payroll period following Employee&#8217;s return of the executed Release and the lapse of all applicable
            revocation periods, or as soon as administratively practicable thereafter;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">A
              lump sum amount equal to </font><font style="font-weight: bold; color: #000000;"><u>2.00 times</u></font><font style="color: #000000;"> Employee&#8217;s annual base salary in effect as of the date immediately preceding the date of termination plus
              a single sum payment equal to the average of the Employee&#8217;s total cash bonuses paid or payable for the last two calendar years preceding the date of termination multiplied by a factor of </font><font style="font-weight: bold; color: #000000;"><u>1.00</u></font><font style="color: #000000;">, all payable as of the date of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively
              practicable thereafter;</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">Continued
              participation in the group health insurance and group life insurance benefits which Employee was eligible to participate in or receive on the day prior to the date of termination (&#8220;</font><font style="font-weight: bold; color: #000000;">Insurance

              Programs</font><font style="color: #000000;">&#8221;), beginning on the date of termination and continuing for a period of </font><font style="font-weight: bold; color: #000000;"><u>twelve (12) months</u></font><font style="color: #000000;"> (&#8220;</font><font style="font-weight: bold; color: #000000;">Benefit Continuation Term</font><font style="color: #000000;">&#8221;), but only to the extent Employee continues to qualify for participation therein and takes all actions required in connection with such
              participation (including participation through Employee&#8217;s timely election of COBRA continuation coverage). If Employee is not permitted to continue participation in those Insurance Programs for any portion of the Benefit Continuation Term,
              Bank will reimburse Employee for the cost of health insurance and life insurance benefits for the Benefit Continuation Term, subject to the Employee timely providing evidence of</font></font></div>
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        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">payment for such benefits; <font style="font-style: italic;">provided, however</font>, the amount of these benefits
          will be limited to an amount equal to 110% of Bank&#8217;s cost of providing comparable benefits under the Insurance Programs and provided that Employee shall receive the entire amount payable under this Section 4(c)(iii) no later than the end of the
          second calendar year following the Qualifying Termination;</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">All amounts that
            have vested or accrued prior to or on the date of termination (or otherwise are or become payable to Employee) under all incentive compensation or other qualified and non-qualified employee benefit plans of the Holding Company or Bank in
            accordance with the provisions of such plans and past practices of Holding Company or Bank, including without limitation, any Bank contributions or matches related to those amounts. For purposes of clarification, the intent of this Section is
            for Employee to receive all amounts attributable to Employee&#8217;s participation in such plans, as now or hereafter existing, up to and including the date of termination, regardless of whether the amounts are historically deposited or credited to
            individual employee accounts or subject to Board of Director approval on a date beyond the date of termination, and Bank agrees to compute and pay, deposit or credit all such amounts as soon as possible after the date of termination if not
            capable of being calculated, paid, deposited or credited prior to the date of termination;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">An amount equal to
            the partial year bonus which Employee would have earned based on the then-current bonus plan of the Bank in the year a Change in Control occurred, as measured through the effective date of a Change in Control based on the then-current financial
            results, determined by the Bank in its discretion, payable as of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively practicable thereafter;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding the
            foregoing, all options granted to Employee to purchase shares of common stock of the Holding Company and all performance shares and shares of restricted stock of the Holding Company (whether such options, performance shares and restricted
            shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and Employee.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(d)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Suspension and Termination of Severance Benefits</u></font>.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">If
              Employee is removed and/or permanently prohibited from participating in the conduct of the Bank&#8217;s affairs by an order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (&#8220;</font><font style="font-weight: bold; color: #000000;">FDIA</font><font style="color: #000000;">&#8221;) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of Bank and Holding Company under this Agreement shall terminate as of the effective date of the order, but vested rights of the
              parties shall not be affected.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">If the Bank is in
            default (as defined in Section 3(x)(1) of FDIA), all obligations of Bank and Holding Company under this Agreement shall terminate as of the date of default; however, this subsection shall not affect the vested rights of the parties.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">All
              obligations of Bank and Holding Company under this Agreement shall terminate, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (A) by the Indiana Department of Financial
              Institutions (the &#8220;</font><font style="font-weight: bold; color: #000000;">DFI</font><font style="color: #000000;">&#8221;) or its designee, or the Bank&#8217;s primary federal regulator at the time</font></font></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;">4</font></div>
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        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">that the Federal Deposit Insurance Corporation (&#8220;<font style="font-weight: bold;">FDIC</font>&#8221;) enters into an agreement
          to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of FDIA; or (B) by the DFI, or its designee, or the Bank&#8217;s primary federal regulator, at the time that the DFI, or its designee, or the Bank&#8217;s
          primary federal regulator, approves a supervisory merger to resolve problems related to the operation of the Bank or when the Bank is determined by the DFI, or the Bank&#8217;s primary federal regulator, to be in an unsafe or unsound condition. Any
          such action shall not affect any vested rights of the parties.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">If a notice served
            under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) or (g)(1)) suspends and/or temporarily prohibits Employee from participating in the conduct of the Bank&#8217;s affairs, Bank&#8217;s and Holding Company&#8217;s obligations under this Agreement
            shall be suspended as of the effective date of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Bank shall (A) pay Employee all or part of the compensation withheld while its contract
            obligations were suspended, and/or (B) reinstate (in whole or in part) any of its obligations which were suspended.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding
            anything to the contrary contained herein, Employee acknowledges and agrees that any payments made to Employee pursuant to this Agreement, or otherwise, are subject to and conditioned upon compliance with the provisions of 12 U.S.C. 1828(k) and
            Part 359 of the FDIC&#8217;s regulations (12 C.F.R. Part 359), which provisions contain certain prohibitions and limitations on making &#8220;golden parachute&#8221; and certain indemnification payments by FDIC-insured institutions and their holding companies.
            In the event any payments to Employee pursuant to this Agreement are prohibited or limited by the provisions of such statute and/or regulations, Bank and/or Holding Company (A) shall pay the maximum amount that may be paid after applying such
            limitations; and (B) will use commercially reasonable efforts to obtain the consent of the appropriate regulatory authorities to the payment of any amount that otherwise cannot be paid due to the application of such limitations. Employee agrees
            that Bank and/or Holding Company shall not have breached any obligations under this Agreement if they are unable to pay all or some portion of any payment due to Employee as a result of the application of these limitations.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;"><u>Effect of Section 409A of the
              Internal Revenue Code.</u></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">To the
              extent a Change in Control qualifies as a &#8220;change in control&#8221; for purposes of Section 409A of the Internal Revenue Code, the parties intend that any payments made or benefits received pursuant to this Section 4, or otherwise received by
              Employee, shall be exempt from, or comply with, Section 409A of the Internal Revenue Code and all Treasury Regulations and guidance promulgated thereunder (&#8220;</font><font style="font-weight: bold; color: #000000;">Section 409A</font><font style="color: #000000;">&#8221;). To the maximum extent permitted, this Agreement shall be limited, construed and interpreted in accordance with such intent. In no event whatsoever shall Bank, Holding Company, any Affiliates, and/or their
              respective officers, directors, employees or agents be liable for any additional tax, interest or penalties that may be imposed on Employee by Section 409A or damages for failing to comply with Section 409A.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding any
            other provision of this Agreement to the contrary, if at the time of Employee&#8217;s separation from service (as defined in Section 409A) Employee is a &#8220;Specified Employee&#8221; within the meaning and in accordance with Treasury Regulation Section</font></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>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">1.409A-1(i), then Bank will defer the payment or commencement of any nonqualified deferred compensation subject to
          Section 409A payable upon separation from service (without any reduction in such payments or benefits ultimately paid or provided to Employee) until the date that is six (6) months following separation from service or, if earlier, the earliest
          other date as is permitted under Section 409A. Any amounts that otherwise would have been paid during this deferral period will be paid in a lump sum on the day after the expiration of the six (6) month period or such shorter period, if
          applicable.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118236"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Termination for Cause</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of &#8220;Cause&#8221;</u></font>.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Cause</font>&#8221; is defined as any of the
          following actions:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">An
              intentional act of fraud, embezzlement, theft, or personal dishonesty; willful misconduct, or breach of fiduciary duty involving personal profit by Employee in the course of Employee&#8217;s employment; </font><font style="font-style: italic; color: #000000;">provided, however, </font><font style="color: #000000;">that (A) no act or failure to act will be deemed to have been intentional or willful if it was due primarily to an error in judgment or negligence; and (B) an act or
              failure to act will only be considered intentional or willful if it is not in good faith and if it is without a reasonable belief that the action or failure to act is in the best interest of Bank or Holding Company;</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Intentional damage
            by Employee to the business or property of Bank or Holding Company, causing material harm to Bank or Holding Company;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Material breach by
            Employee of any provision of this Agreement or any employment agreement the Employee is a party to;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Gross negligence or
            insubordination by Employee in the performance of Employee&#8217;s duties, or the Employee&#8217;s refusal or repeated failure to carry out lawful directives of the Board of Directors of Bank or Holding Company or of any other supervisor; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Removal or permanent
            prohibition of Employee from participating in the conduct of the affairs of Bank or Holding Company by an order issued under subsection 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12&#160;USC&#160;&#167;&#167;&#160;1818(e)(4) and (g)(1).</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Procedure for a Termination for Cause</u></font>.&#160; Bank, upon written notice to Employee, may terminate Employee&#8217;s employment for Cause,
          which will terminate Employee&#8217;s employment and right to compensation immediately, except in the limited case expressly provided herein with respect to Causes that are curable. The written notice will (i) indicate the specific provisions of this
          Agreement relied upon for such termination; (ii) set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination; (iii) state whether the Board of Directors of Bank has determined in good faith that the
          issue is curable; and (iv) if the issue has been deemed curable, describe the steps, actions, events or other items that must be taken, completed or followed by Employee to correct or cure the basis for such termination. If (but only if) the
          basis for termination has been deemed curable by the Board of Directors, then Employee will have thirty (30) days following the effective date of such notice to fully correct and cure the basis for the termination of Employee&#8217;s employment. If
          Employee does not fully correct and cure the basis for the termination of Employee&#8217;s employment within such 30-day period, then Bank will have the right to terminate Employee&#8217;s employment with Bank immediately for Cause upon delivering to
          Employee a second written notice</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;">6</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">of termination and without any further cure period. Unless otherwise specified in the written notice, the date of termination shall be the date of the
          first written notice, in the case of an uncurable Cause, and shall be the date of the second written notice, in the case of a curable but uncured Cause.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect on Other Written Agreements</u></font>.&#160; Bank intends the provisions of this Section 5 relating to a termination for Cause to be
          consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Cause, the provisions of this Agreement shall prevail in all cases following a Change in Control.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118215"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Termination for Good Reason</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;"><u>(a)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font>Definition
              of &#8220;Good Reason&#8221;</u></font>.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Good Reason</font>&#8221; is defined as the occurrence of any of the following events:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The requirement that
            Employee move Employee&#8217;s office to a location more than thirty (30) miles from Employee&#8217;s principal residence as of the Effective Date;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A reduction in
            Employee&#8217;s then-current annual base salary;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The removal of
            Employee from participation in any incentive compensation or performance-based compensation plans without replacement with a comparable or superior substitute plan or otherwise compensating Employee in an amount substantially equivalent to the
            value of the lost benefit;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M75"></a><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The taking of any action by Bank or Holding Company which would directly or indirectly reduce any material benefit plan or program or deprive Employee of any such benefit enjoyed by Employee;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M76"></a><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The assignment to Employee of duties and responsibilities materially different from those normally associated with Employee&#8217;s position;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M77"></a><a name="z_DV_M78"></a><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A material diminution or reduction in Employee&#8217;s duties, responsibilities or authority (including reporting responsibilities) normally associated with Employee&#8217;s position;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any action by Bank
            to remove Employee from Employee&#8217;s then-current officer position or materially change Employee&#8217;s title, except for promotions;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M79"></a><font style="font-size: 12pt; color: #010000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A material breach by Bank of any provision of this Agreement, other than a breach justifying termination pursuant to any other provision of this Agreement; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">To the extent such
            assumption does not occur as a matter of law, any failure of Bank or Holding Company to obtain the assumption of the obligation to perform this Agreement by any successor, including upon a Change in Control.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Procedure for a Termination for Good Reason</u></font>.&#160; Employee, by written notice to Bank, may terminate Employee&#8217;s employment with Bank
          for Good Reason. For Employee to have the right to resign for Good Reason, all of the following must timely occur: (i) Employee must provide Bank with written notice of the occurrence of any of the Good Reason events within ninety (90) days</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;">7</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">immediately following the first occurrence of such event, and such notice must describe in detail the Good Reason event and the proposed cure to such
          event; (ii) Bank must fail to cure such event within a period of thirty (30) days from the date of receipt of such notice; and (iii) a second written notice of termination is delivered by Employee to Bank within ninety (90) days following the day
          on which the 30-day period set forth in the preceding clause (ii) expires. Unless otherwise specified in the second written notice, the date of termination shall be the date of the second written notice.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect on Other Written Agreements</u></font>.&#160; Bank intends the provisions of this Section 6 relating to a termination for Good Reason to
          be consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Good Reason, the provisions of this Agreement shall prevail in all cases following a Change in Control.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19198625"></a><a name="z_Ref461026370"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Terminations for Other Reasons</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination by Bank without Cause</u></font>.&#160; Upon thirty (30) days&#8217; written notice to Employee, Bank may terminate Employee&#8217;s employment
          without Cause.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination by Employee without Good Reason</u></font>.&#160; Employee, upon sixty (60) days&#8217; written notice to Bank, may terminate Employee&#8217;s
          employment without Good Reason.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026165"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Disclosure; Return of Confidential Information and Other Property</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Access to Confidential Information</u></font>.&#160; Employee understands, acknowledges and agrees that during the course of Employee&#8217;s
          employment with Bank, Employee will gain information regarding, knowledge of and familiarity with the Confidential Information (as hereinafter defined) of Bank and its Affiliates and that if the Confidential Information was disclosed by Employee,
          Bank or any Affiliates would suffer irreparable damage and harm. Employee understands, acknowledges and agrees that the Confidential Information derives substantial economic value from, among other reasons, not being known or readily
          ascertainable by proper means by others who could obtain economic value therefrom upon disclosure. Employee acknowledges and agrees that Bank and all Affiliates use reasonable means to maintain the secrecy and confidentiality of the Confidential
          Information. For purposes of this Agreement, the term &#8220;Affiliate&#8221; means Holding Company and all subsidiaries of Holding Company and its subsidiaries.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Non-Disclosure</u></font>.&#160; At all times while Employee is employed by Bank, and at all times thereafter, Employee shall not (i) directly or
          indirectly disclose, provide or discuss any Confidential Information with or to any Person (as hereinafter defined) other than those directors, officers, employees, representatives and agents of Bank and any Affiliates who need to know such
          Confidential Information for a proper corporate purpose, and (ii) directly or indirectly use any Confidential Information (A) to compete against Bank or any Affiliates, or (B) for Employee&#8217;s own benefit or for the benefit of any Person other than
          Bank or any Affiliate. Employee agrees that all Confidential Information at all times shall remain the property of, as applicable, Bank or its Affiliates.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Confidential Information Defined</u></font>.&#160; For purposes of this Agreement, the term &#8220;Confidential Information&#8221; means any and all:</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;">8</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">materials, records,
            data, documents, lists, writings and information (whether in writing, printed, verbal, electronic, computerized, on disk or otherwise) (A) relating or referring in any manner to the business, operations, affairs, financial condition, results of
            operation, cash flow, assets, liabilities, sales, revenues, income, estimates, projections, policies, strategies, techniques, methods, products, developments, suppliers, relationships and/or customers of Bank or any Affiliate that are
            confidential, proprietary or not otherwise publicly available, in any event not without a breach of this Agreement, or (B) that Bank or any Affiliate has deemed confidential, proprietary or nonpublic;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">trade secrets of
            Bank or any Affiliate, as defined in Indiana Code Section 24&#8209;2&#8209;3&#8209;2, as amended, or any successor statute; and</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">any and all
            copies, summaries, analyses and extracts which relate or refer to or reflect any of the items set forth in (i) or (ii) above.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(d)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of Person</u></font>.&#160; For purposes of this Agreement, the term &#8220;Person&#8221; shall mean any natural person, proprietorship,
          partnership, corporation, limited liability company, bank, organization, firm, business, joint venture, association, trust or other entity and any government agency, body or authority.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(e)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Return of Confidential Information and Other Property</u></font>.&#160; Employee covenants and agrees:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">to keep all
            Confidential Information subject to Bank&#8217;s or any Affiliate&#8217;s custody and control and to promptly return to Bank or the appropriate Affiliate all Confidential Information that is still in Employee&#8217;s possession or control at the termination of
            Employee&#8217;s employment with Bank; and</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">promptly upon
            termination of Employee&#8217;s employment with Bank, to return to Bank, at Bank&#8217;s principal office, all vehicles, equipment, computers, credit cards and other property of Bank and to cease using any of the foregoing.</font></div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026178"></a><a name="z_Ref19118334"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Solicitation of Customers and Employees</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Obligations of Employee</u></font>.&#160; During the Term, and for <font style="font-weight: bold;"><u>two (2) years</u></font><font style="font-weight: bold;">&#160;</font>thereafter, Employee will not in a competitive capacity (as defined in Section 10), on behalf of any person or entity other than Bank or any Affiliate, directly or indirectly:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one year preceding
            Employee&#8217;s separation,</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert
            (or attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate about whom Employee obtained Confidential Information;</font></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;">9</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one
            year preceding Employee&#8217;s separation,</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate about whom Employee has obtained confidential or proprietary information;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">encourage,
            solicit, induce, or attempt to encourage, solicit or induce any employee, service provider, agent or representative of Bank or any Affiliate, who (a) has access to, or possesses, Confidential Information, trade secrets, or other knowledge
            regarding the Bank or any Affiliate that could give a competitor an unfair advantage, or (b) within the preceding two years, has serviced or established goodwill with the Bank&#8217;s customers or acquired confidential information about those
            customers, or (c) was someone Employee had worked with, or supervised in Employee&#8217;s last two-years of employment (hereafter defined as an &#8220;Individual&#8221;), to leave his/her employment or terminate his/her relationship with Bank or any Affiliate or
            devote less than full time efforts to Bank&#8217;s or an Affiliate&#8217;s business; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">hire
              or attempt to hire, for any competitive or other position with any competitor or other business, any Individual&#160; who has been an employee of Bank or any Affiliate at any time within the preceding one year; </font><font style="font-style: italic; color: #000000;">provided, however, </font><font style="color: #000000;">that Employee shall not be deemed to have violated this Section if an employee responds to a general advertisement for employment with the competitor.</font></font></div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118294"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 10.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Competition</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>During Employment</u></font>.&#160; During Employee&#8217;s employment, Employee shall not, directly or indirectly, have any ownership interest in,
          work for, advise, manage, act as an agent or consultant for, or have any business connection or business or employment relationship with, any entity or person which competes with Bank or any of its Affiliates.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Following Termination of Employment</u></font>.&#160; For a period of <font style="font-weight: bold;"><u>two (2) years</u></font><font style="font-weight: bold;">&#160;</font>after Employee&#8217;s separation from Bank for any reason, Employee shall not:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in the states of
            Indiana and/or Michigan;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in any Indiana
            county or Michigan county in which Bank maintains a branch or other office;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in any Indiana
            county or Michigan county in which customers of Bank reside or maintain a facility;</font></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;">10</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in the geographic
            area in which Employee has been performing services on behalf of Bank, or for which Employee has been assigned responsibility, at any time within one (1) year preceding Employee&#8217;s separation;</font></div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">directly or indirectly own, manage, finance, operate, control or participate in ownership, management, or operation of, act as an agent, consultant, or be
          employed in a Competitive Capacity with, any banking or financial institution which competes with Bank or any of its Affiliates. Employee further agrees that during that same period, Employee will not assist in the research and development of
          products or services (A) where such research and development would be aided by the Confidential Information learned in the course of Employee&#8217;s relationship with Bank; or (B) which compete with those products or services of Bank or any Affiliate.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of &#8220;Competitive Capacity&#8221;</u></font>.&#160; For purposes of this Agreement, the term &#8220;<font style="font-weight: bold;">Competitive
            Capacity</font>&#8221; shall mean (i) performing tasks or duties similar to those Employee performed at Bank or any Affiliate for a competitor of Bank; (ii) managing/supervising those who, for a competitor of Bank, perform tasks or duties similar to
          those which Employee performed at Bank; or (iii) performing, on behalf of a competitor of Bank, tasks or duties in which Employee utilized any Confidential Information that Employee learned in the course of Employee&#8217;s relationship with Bank or
          any Affiliate.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118951"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 11.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Periods of Noncompliance and Reasonableness of Periods</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Acknowledgment</u></font>.&#160; Bank and Employee understand, acknowledge and agree that the restrictions and covenants contained in Sections 8,
          9 and 10 hereof are reasonable in view of the nature of the business in which Bank and the Affiliates are engaged, Employee&#8217;s position with Bank and the Affiliates and Employee&#8217;s advantageous knowledge of and familiarity with the business,
          operations, affairs and customers of Bank and the Affiliates. Employee acknowledges that the various covenants, restrictions and obligations set forth in those Sections are separate and independent obligations, and may be enforced separately or
          in any combination.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect of Employee Breach</u></font>.&#160; The time periods during which the restrictions and covenants of Sections 8, 9 and 10 are applicable
          will be extended by a period of time equal to any period during which Employee is not in compliance with such restrictions and covenants. Bank&#8217;s obligation to pay the amounts otherwise payable to Employee pursuant to this Agreement shall
          immediately terminate in the event that Employee breaches any of the provisions of Sections 8, 9 and 10 hereof. Notwithstanding the foregoing, (i) the covenants of Employee set forth in Sections 8, 9 and 10 hereof shall continue in full force and
          effect and be binding upon Employee; (ii) Bank shall be entitled to the remedies specified in Section 13 hereof; and (iii) Bank shall be entitled to its damages, costs and expenses (including, without limitation, reasonable attorney&#8217;s fees and
          expenses) resulting from or relating to Employee&#8217;s breach of any of the provisions of Sections Section 8, 9 or 10 hereof.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font>Effect of Bank Breach</u></font>.&#160; Bank and Employee understand, acknowledge and agree that Employee&#8217;s entitlement to special severance benefits upon a Qualifying Termination following a Change in Control, and the other provisions
          benefiting Employee under this Agreement, are a material part of the consideration for the restrictions contained in Sections 8, 9 and 10 of this Agreement. Accordingly, if Bank breaches any of its material obligations to Employee that arise
          following termination of Employee for any reason, and the breach is not cured within thirty (30) days of written</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;">11</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">notice of the breach, then Employee&#8217;s obligations under Sections 8, 9 and 10 of this Agreement shall be suspended.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026651"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 12.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Survival of Certain Provisions</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Employee hereby expressly agrees that upon any termination of the Term of this Agreement due to Employee&#8217;s termination of employment
          with Bank or otherwise, the provisions of Sections 8 - 24 hereof shall continue to be in full force and effect and binding upon Employee in accordance with the respective provisions of such Sections (except in the case of Bank breach as described
          in Section 11).</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026567"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 13.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Remedies</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Employee agrees that Bank or an Affiliate will suffer irreparable damage and injury and will not have an adequate remedy at law in the
          event of any actual, threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10. Accordingly, in the event of a breach or a threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10, in addition to
          all other remedies to which Bank and Affiliates are entitled at law, in equity or otherwise, Bank and Affiliates may be entitled to a temporary restraining order and a permanent injunction or a decree of specific performance of any provision of
          Sections 8, 9 or 10. The foregoing remedies shall not be deemed to be the exclusive rights or remedies of Bank or an Affiliate for any breach of or noncompliance with this Agreement by Employee but shall be in addition to all other rights and
          remedies available to Bank or an Affiliate at law, in equity or otherwise.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118048"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Section&#160;280G</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Anything in this Agreement to the contrary notwithstanding, in the event Bank&#8217;s independent public accountants or counsel determine that
          any payment by Bank to or for the benefit of Employee, whether paid or payable pursuant to the terms of this Agreement or otherwise, would be non-deductible by Bank for federal income tax purposes because of Section&#160;280G of the Internal Revenue
          Code, the amount payable to or for the benefit of Employee pursuant to this Agreement and all other arrangements shall be reduced (but not below zero) in a manner determined by Holding Company to the Reduced Amount. For purposes of this Section
          14, the &#8220;<font style="font-weight: bold;">Reduced Amount</font>&#8221; shall be the amount which maximizes the amount payable without causing the payment to be non-deductible by Bank because of Section&#160;280G. If two economically equivalent amounts are
          subject to reduction but are payable at different times, the amounts shall be reduced (but not below zero) on a pro rata basis.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 15.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Successors and Assigns</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement is binding upon and shall be for the benefit of the successors and assigns of Bank and Holding Company, including any
          corporation or any other form of business organization with which Bank or Holding Company may merge or consolidate, or to which it may transfer substantially all of its assets. Bank or Holding Company shall require any successor to expressly
          assume and agree, in writing, to perform this Agreement and any successor shall absolutely and unconditionally assume all of Bank&#8217;s and Holding Company&#8217;s obligations hereunder. Failure of Bank or Holding Company to obtain such agreement prior to
          the effectiveness of any such succession shall be a material breach of this Agreement and shall entitle Employee to terminate employment with Bank for Good Reason pursuant to Section 6 of this Agreement. As used in this Agreement, &#8220;Bank&#8221; shall
          mean Bank as hereinbefore defined and any successor to its business and/or assets. This Agreement may not be assigned by Bank or Holding Company without the prior written consent of Employee,</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;">12</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">which consent shall not be unreasonably withheld. The Agreement will also be binding upon, enforceable against, and inure to the benefit of Employee and
          Employee&#8217;s heirs and representatives, and nothing herein is intended to confer any right, remedy or benefit upon any other person. Employee shall not assign Employee&#8217;s interest in this Agreement or any part thereof.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 16.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Consent of Bank</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Any act, request, approval, consent or opinion of Bank under this Agreement, must be in writing and may be authorized, given or
          expressed only by Bank&#8217;s President or Chief Executive Officer, or by such other person as the Bank&#8217;s Board of Directors may designate.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 17.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Notices</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">All notices, requests and other communications under this Agreement will be in writing (which will include facsimile communication) and
          will be deemed to have been duly given if (a) delivered by hand; (b) sent by certified United States Mail, return receipt requested, first class postage pre-paid; (c) sent by overnight delivery service; or (d) sent by facsimile transmission if
          such fax is confirmed immediately thereafter by also mailing a copy of such notice, request or other communication by regular United States Mail, first class postage pre-paid, as follows:</div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zea2510d5d4434196bbc58e629f70eb15">

            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">(A)</div>
              </td>
              <td style="width: 15%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">If to Employee:</div>
              </td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Dennis J. Kuhn</div>
              </td>
            </tr>
            <tr>
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              <td style="width: 5%; vertical-align: top;">&#160;</td>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Michigan City, IN 46360</div>
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement shall be governed by and construed in accordance with the laws of the State of Indiana applicable to contracts made and
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<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>7
<FILENAME>hb_8k123119ex106.htm
<DESCRIPTION>CHANGE IN CONTROL AGREEMENT (TODD A. ETZLER)
<TEXT>
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      <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.6</font><br>
      </div>
      <div> <br>
      </div>
      <div>&#160;
        <div style="text-align: center; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">HORIZON BANK<br>
          <br style="line-height: 13.7pt;">
          <br>
          CHANGE IN CONTROL AGREEMENT</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">This Change in Control Agreement</font> (&#8220;<font style="font-weight: bold;">Agreement</font>&#8221;),
          dated and effective as of January 1, 2020 (the &#8220;<font style="font-weight: bold;">Effective Date</font>&#8221;), is entered into between <font style="font-variant: small-caps;">Horizon Bank</font> (&#8220;<font style="font-weight: bold;">Bank</font>&#8221;), an
          Indiana state bank, and<font style="font-variant: small-caps;">&#160;</font><font style="font-weight: bold; font-variant: small-caps;"><u>Todd A. Etzler</u></font><font style="font-variant: small-caps;">&#160;</font>(&#8220;<font style="font-weight: bold;">Employee</font>&#8221;),
          a resident of the State of <font style="font-weight: bold;"><u>Indiana</u></font>.</div>
        <div style="text-align: center; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold;">WITNESSETH</font>:</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, Bank is a subsidiary of Horizon Bancorp, Inc. (&#8220;<font style="font-weight: bold;">Holding Company</font>&#8221;), a corporation formed under the laws of the State of Indiana;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, Executive currently serves as an employee of the Bank, either
          as an employee-at-will or pursuant to a written employment agreement;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, the Board of Directors of the Bank (&#8220;<font style="font-weight: bold;">Board</font>&#8221;) has determined that it is in the best interests of the Bank and the Holding Company to assure that the Bank will have the continued dedication and objectivity of Employee, notwithstanding the possibility, threat or
          occurrence of a Change in Control (as defined herein) of the Bank or the Holding Company; and</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Whereas</font>, the Board believes that it is in the best interests of the
          Bank and the Holding Company to provide Employee with certain severance benefits following a Change in Control in order to provide Employee with enhanced financial security, to allow the Bank to remain competitive with peers, and to incentivize
          and encourage Employee to remain with the Bank notwithstanding the possibility of a Change in Control.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold; font-variant: small-caps;">Now, Therefore</font>, in consideration of the mutual promises herein
          contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Term</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The term of this Agreement shall begin on the Effective Date and, except as otherwise expressly provided herein, automatically terminate
          immediately upon the termination of Employee&#8217;s employment, for any reason, prior to a Change in Control. In the event Employee is still employed by Bank at the time of a Change in Control, then the term shall continue for one (1) year following
          consummation of the Change in Control. Notwithstanding the foregoing, the provisions of Sections 8 &#8211; 24 of this Agreement shall survive any termination of the Term, as provided in Section 12 of this Agreement.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">At-Will Employment</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Unless Employee is a party to a separate written employment agreement with Bank or Holding Company, nothing in this Agreement shall be
          deemed to entitle Employee to continued employment with Bank or any affiliated companies. Employee acknowledges that unless Employee is subject to a separate written employment agreement that provides otherwise, Employee is an at-will employee,
          meaning that either Employee or Bank can terminate the employment relationship at any time, with or without Cause (as defined herein), and that this Agreement shall not change or affect Employee&#8217;s at-will status. If Employee&#8217;s employment with
          Bank terminates prior to a Change in Control, Employee shall have no further rights under this Agreement, except as otherwise provided herein.</div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Change in Control</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition</u></font>.&#160; For purposes of this Agreement, a &#8220;<font style="font-weight: bold;">Change in Control</font>&#8221; shall be deemed to
          have occurred if the conditions or events set forth in any one or more of the following subsections occur:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any merger,
            consolidation or similar transaction which involves Bank or Holding Company and in which persons who are the shareholders of Bank or Holding Company immediately prior to the transaction own, immediately after the transaction, shares of the
            surviving or combined entity which possess voting rights equal to or less than 50 percent of the voting rights of all shareholders of such entity, determined on a fully diluted basis;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any sale, lease,
            exchange, transfer or other disposition of all or substantially all of the consolidated assets of Bank or Holding Company;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any tender,
            exchange, sale or other disposition (other than disposition of the stock of Holding Company or Bank in connection with bankruptcy, insolvency, foreclosure, receivership or other similar transactions) or purchase (other than purchases by Holding
            Company or any Holding Company or Bank-sponsored employee benefit plan, or purchases by members of the board of directors of Holding Company or Bank) of shares which represent more than 25 percent of the voting power of Holding Company or Bank;
            or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">During any period
            of two consecutive years, individuals who at the date of this Agreement constitute the board of directors of Holding Company cease for any reason to constitute at least a majority thereof, unless the election of each director at the beginning
            of the period has been approved by directors representing at least a majority of the directors then in office.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Exceptions</u></font>.&#160; Notwithstanding the provisions of Section 3(a), a Change in Control shall not be deemed to have occurred:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">As a result of the
            issuance of stock by the Holding Company in connection with any public offering of its stock;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">With respect to
            stock ownership by the Horizon Bancorp Employee Stock Ownership Plan Trust (which forms a part of the Horizon Bancorp Employees&#8217; Stock Ownership Plan), the Horizon Bancorp Employee&#8217;s Thrift Plan Trust (which forms a part of the Horizon Bancorp
            Employee&#8217;s Thrift Plan), or any other employee benefit plan; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">With
              respect to any payment or benefit provided under the Agreement to which Section&#160;409A of the Internal Revenue Code of 1986, as amended (the &#8220;</font><font style="font-weight: bold; color: #000000;">Internal Revenue Code</font><font style="color: #000000;">&#8221;), is applicable and for which a change in control event is required, unless the event related to such payment or benefit constitutes a &#8220;change in control&#8221; for purposes of Section&#160;409A.</font></font></div>
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        </div>
        <div style="line-height: 13.7pt;"><a name="z_Ref19116499"></a><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Double-Trigger Severance Benefits in Connection with a Change in Control and a Qualifying Termination</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination Period</u></font>.&#160; In connection with a Change in Control, Employee will be entitled to the severance benefits set forth in
          this Section 4 if during the six (6) month period prior to a Change in Control or during the one (1) year period following consummation of a Change in Control, either of the following two qualifying terminations occurs: (i) Bank terminates
          Employee&#8217;s employment for any reason other than for Cause (as hereafter defined); or (ii) Employee resigns for Good Reason (as hereafter defined) in accordance with the provisions of Section 6; (each of the terminations described in (i) and (ii)
          hereof shall be referred to as a &#8220;<font style="font-weight: bold;">Qualifying Termination</font>&#8221;).</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;"><u>Conditions to Receipt
                of Severance Benefits.</u></font><font style="color: #000000;">&#160; Employee&#8217;s entitlement to the severance payments set forth in this Section 4 shall be contingent upon Employee&#8217;s execution (and non-revocation) of a release of claims relating
              to Employee&#8217;s employment by the Bank, Holding Company, and/or any of their Affiliates in favor of such parties in a form reasonably acceptable to, and provided by, Bank (the &#8220;</font><font style="font-weight: bold; color: #000000;">Release</font><font style="color: #000000;">&#8221;). Bank will set a deadline for return of the Release that will be no later than sixty (60) days following the later of the Employee&#8217;s Qualifying Termination or Change in Control, as applicable, and the Release must
              remain unrevoked during any revocation period. No severance benefits shall be paid to Employee under this Agreement if the Release is not executed by Employee and returned to Bank by such deadline. In addition, Employee must be and remain in
              compliance with the provisions of Sections 8 &#8211; 10 of this Agreement.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Severance Benefits Provided</u></font>.&#160; Upon a Qualifying Termination and subject to Employee&#8217;s compliance with Sections 8 - 10 hereof and Employee&#8217;s
          timely execution and delivery of the Release, Bank will pay or provide to Employee the following amounts and benefits:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">That portion of
            Employee&#8217;s base salary earned through the date of termination, payable in accordance with normal payroll practices commencing as of the first payroll period following Employee&#8217;s return of the executed Release and the lapse of all applicable
            revocation periods, or as soon as administratively practicable thereafter;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">A
              lump sum amount equal to </font><font style="font-weight: bold; color: #000000;"><u>1.00 times</u></font><font style="color: #000000;"> Employee&#8217;s annual base salary in effect as of the date immediately preceding the date of termination plus
              a single sum payment equal to the average of the Employee&#8217;s total cash bonuses paid or payable for the last two calendar years preceding the date of termination multiplied by a factor of </font><font style="font-weight: bold; color: #000000;"><u>1.00</u></font><font style="color: #000000;">, all payable as of the date of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively
              practicable thereafter;</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">Continued
              participation in the group health insurance and group life insurance benefits which Employee was eligible to participate in or receive on the day prior to the date of termination (&#8220;</font><font style="font-weight: bold; color: #000000;">Insurance

              Programs</font><font style="color: #000000;">&#8221;), beginning on the date of termination and continuing for a period of </font><font style="font-weight: bold; color: #000000;"><u>twelve (12) months</u></font><font style="color: #000000;"> (&#8220;</font><font style="font-weight: bold; color: #000000;">Benefit Continuation Term</font><font style="color: #000000;">&#8221;), but only to the extent Employee continues to qualify for participation therein and takes all actions required in connection with such
              participation (including participation through Employee&#8217;s timely election of COBRA continuation coverage). If Employee is not permitted to continue participation in those Insurance Programs for any portion of the Benefit Continuation Term,
              Bank will reimburse Employee for the cost of health insurance and life insurance benefits for the Benefit Continuation Term, subject to the Employee timely providing evidence of</font></font></div>
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        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">payment for such benefits; <font style="font-style: italic;">provided, however</font>, the amount of these benefits
          will be limited to an amount equal to 110% of Bank&#8217;s cost of providing comparable benefits under the Insurance Programs and provided that Employee shall receive the entire amount payable under this Section 4(c)(iii) no later than the end of the
          second calendar year following the Qualifying Termination;</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">All amounts that
            have vested or accrued prior to or on the date of termination (or otherwise are or become payable to Employee) under all incentive compensation or other qualified and non-qualified employee benefit plans of the Holding Company or Bank in
            accordance with the provisions of such plans and past practices of Holding Company or Bank, including without limitation, any Bank contributions or matches related to those amounts. For purposes of clarification, the intent of this Section is
            for Employee to receive all amounts attributable to Employee&#8217;s participation in such plans, as now or hereafter existing, up to and including the date of termination, regardless of whether the amounts are historically deposited or credited to
            individual employee accounts or subject to Board of Director approval on a date beyond the date of termination, and Bank agrees to compute and pay, deposit or credit all such amounts as soon as possible after the date of termination if not
            capable of being calculated, paid, deposited or credited prior to the date of termination;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">An amount equal to
            the partial year bonus which Employee would have earned based on the then-current bonus plan of the Bank in the year a Change in Control occurred, as measured through the effective date of a Change in Control based on the then-current financial
            results, determined by the Bank in its discretion, payable as of the first payroll following delivery of the executed Release and the lapse of all applicable revocation periods, or as soon as administratively practicable thereafter;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding the
            foregoing, all options granted to Employee to purchase shares of common stock of the Holding Company and all performance shares and shares of restricted stock of the Holding Company (whether such options, performance shares and restricted
            shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and Employee.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(d)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font>Suspension and Termination of Severance Benefits</u></font>.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">If
              Employee is removed and/or permanently prohibited from participating in the conduct of the Bank&#8217;s affairs by an order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (&#8220;</font><font style="font-weight: bold; color: #000000;">FDIA</font><font style="color: #000000;">&#8221;) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of Bank and Holding Company under this Agreement shall terminate as of the effective date of the order, but vested rights of the
              parties shall not be affected.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">If the Bank is in
            default (as defined in Section 3(x)(1) of FDIA), all obligations of Bank and Holding Company under this Agreement shall terminate as of the date of default; however, this subsection shall not affect the vested rights of the parties.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">All
              obligations of Bank and Holding Company under this Agreement shall terminate, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (A) by the Indiana Department of Financial
              Institutions (the &#8220;</font><font style="font-weight: bold; color: #000000;">DFI</font><font style="color: #000000;">&#8221;) or its designee, or the Bank&#8217;s primary federal regulator at the time</font></font></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;">4</font></div>
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        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">that the Federal Deposit Insurance Corporation (&#8220;<font style="font-weight: bold;">FDIC</font>&#8221;) enters into an agreement
          to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of FDIA; or (B) by the DFI, or its designee, or the Bank&#8217;s primary federal regulator, at the time that the DFI, or its designee, or the Bank&#8217;s
          primary federal regulator, approves a supervisory merger to resolve problems related to the operation of the Bank or when the Bank is determined by the DFI, or the Bank&#8217;s primary federal regulator, to be in an unsafe or unsound condition. Any
          such action shall not affect any vested rights of the parties.</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">If a notice served
            under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) or (g)(1)) suspends and/or temporarily prohibits Employee from participating in the conduct of the Bank&#8217;s affairs, Bank&#8217;s and Holding Company&#8217;s obligations under this Agreement
            shall be suspended as of the effective date of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, Bank shall (A) pay Employee all or part of the compensation withheld while its contract
            obligations were suspended, and/or (B) reinstate (in whole or in part) any of its obligations which were suspended.</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding
            anything to the contrary contained herein, Employee acknowledges and agrees that any payments made to Employee pursuant to this Agreement, or otherwise, are subject to and conditioned upon compliance with the provisions of 12 U.S.C. 1828(k) and
            Part 359 of the FDIC&#8217;s regulations (12 C.F.R. Part 359), which provisions contain certain prohibitions and limitations on making &#8220;golden parachute&#8221; and certain indemnification payments by FDIC-insured institutions and their holding companies.
            In the event any payments to Employee pursuant to this Agreement are prohibited or limited by the provisions of such statute and/or regulations, Bank and/or Holding Company (A) shall pay the maximum amount that may be paid after applying such
            limitations; and (B) will use commercially reasonable efforts to obtain the consent of the appropriate regulatory authorities to the payment of any amount that otherwise cannot be paid due to the application of such limitations. Employee agrees
            that Bank and/or Holding Company shall not have breached any obligations under this Agreement if they are unable to pay all or some portion of any payment due to Employee as a result of the application of these limitations.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;"><u>Effect of Section 409A of the
              Internal Revenue Code.</u></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">To the
              extent a Change in Control qualifies as a &#8220;change in control&#8221; for purposes of Section 409A of the Internal Revenue Code, the parties intend that any payments made or benefits received pursuant to this Section 4, or otherwise received by
              Employee, shall be exempt from, or comply with, Section 409A of the Internal Revenue Code and all Treasury Regulations and guidance promulgated thereunder (&#8220;</font><font style="font-weight: bold; color: #000000;">Section 409A</font><font style="color: #000000;">&#8221;). To the maximum extent permitted, this Agreement shall be limited, construed and interpreted in accordance with such intent. In no event whatsoever shall Bank, Holding Company, any Affiliates, and/or their
              respective officers, directors, employees or agents be liable for any additional tax, interest or penalties that may be imposed on Employee by Section 409A or damages for failing to comply with Section 409A.</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Notwithstanding any
            other provision of this Agreement to the contrary, if at the time of Employee&#8217;s separation from service (as defined in Section 409A) Employee is a &#8220;Specified Employee&#8221; within the meaning and in accordance with Treasury Regulation Section</font></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>
          <div style="page-break-after:always;" id="DSPFPageBreak">
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        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt; color: #000000; font-size: 12pt;">1.409A-1(i), then Bank will defer the payment or commencement of any nonqualified deferred compensation subject to
          Section 409A payable upon separation from service (without any reduction in such payments or benefits ultimately paid or provided to Employee) until the date that is six (6) months following separation from service or, if earlier, the earliest
          other date as is permitted under Section 409A. Any amounts that otherwise would have been paid during this deferral period will be paid in a lump sum on the day after the expiration of the six (6) month period or such shorter period, if
          applicable.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118236"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Termination for Cause</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of &#8220;Cause&#8221;</u></font>.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Cause</font>&#8221; is defined as any of the
          following actions:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">An
              intentional act of fraud, embezzlement, theft, or personal dishonesty; willful misconduct, or breach of fiduciary duty involving personal profit by Employee in the course of Employee&#8217;s employment; </font><font style="font-style: italic; color: #000000;">provided, however, </font><font style="color: #000000;">that (A) no act or failure to act will be deemed to have been intentional or willful if it was due primarily to an error in judgment or negligence; and (B) an act or
              failure to act will only be considered intentional or willful if it is not in good faith and if it is without a reasonable belief that the action or failure to act is in the best interest of Bank or Holding Company;</font></font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Intentional damage
            by Employee to the business or property of Bank or Holding Company, causing material harm to Bank or Holding Company;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Material breach by
            Employee of any provision of this Agreement or any employment agreement the Employee is a party to;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Gross negligence or
            insubordination by Employee in the performance of Employee&#8217;s duties, or the Employee&#8217;s refusal or repeated failure to carry out lawful directives of the Board of Directors of Bank or Holding Company or of any other supervisor; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Removal or permanent
            prohibition of Employee from participating in the conduct of the affairs of Bank or Holding Company by an order issued under subsection 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12&#160;USC&#160;&#167;&#167;&#160;1818(e)(4) and (g)(1).</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Procedure for a Termination for Cause</u></font>.&#160; Bank, upon written notice to Employee, may terminate Employee&#8217;s employment for Cause,
          which will terminate Employee&#8217;s employment and right to compensation immediately, except in the limited case expressly provided herein with respect to Causes that are curable. The written notice will (i) indicate the specific provisions of this
          Agreement relied upon for such termination; (ii) set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination; (iii) state whether the Board of Directors of Bank has determined in good faith that the
          issue is curable; and (iv) if the issue has been deemed curable, describe the steps, actions, events or other items that must be taken, completed or followed by Employee to correct or cure the basis for such termination. If (but only if) the
          basis for termination has been deemed curable by the Board of Directors, then Employee will have thirty (30) days following the effective date of such notice to fully correct and cure the basis for the termination of Employee&#8217;s employment. If
          Employee does not fully correct and cure the basis for the termination of Employee&#8217;s employment within such 30-day period, then Bank will have the right to terminate Employee&#8217;s employment with Bank immediately for Cause upon delivering to
          Employee a second written notice</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;">6</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">of termination and without any further cure period. Unless otherwise specified in the written notice, the date of termination shall be the date of the
          first written notice, in the case of an uncurable Cause, and shall be the date of the second written notice, in the case of a curable but uncured Cause.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect on Other Written Agreements</u></font>.&#160; Bank intends the provisions of this Section 5 relating to a termination for Cause to be
          consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Cause, the provisions of this Agreement shall prevail in all cases following a Change in Control.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118215"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Termination for Good Reason</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of &#8220;Good Reason&#8221;</u></font>.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Good Reason</font>&#8221; is defined as
          the occurrence of any of the following events:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The requirement that
            Employee move Employee&#8217;s office to a location more than thirty (30) miles from Employee&#8217;s principal residence as of the Effective Date;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A reduction in
            Employee&#8217;s then-current annual base salary;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The removal of
            Employee from participation in any incentive compensation or performance-based compensation plans without replacement with a comparable or superior substitute plan or otherwise compensating Employee in an amount substantially equivalent to the
            value of the lost benefit;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M75"></a><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The taking of any action by Bank or Holding Company which would directly or indirectly reduce any material benefit plan or program or deprive Employee of any such benefit enjoyed by Employee;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M76"></a><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">The assignment to Employee of duties and responsibilities materially different from those normally associated with Employee&#8217;s position;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M77"></a><a name="z_DV_M78"></a><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A material diminution or reduction in Employee&#8217;s duties, responsibilities or authority (including reporting responsibilities) normally associated with Employee&#8217;s position;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">Any action by Bank
            to remove Employee from Employee&#8217;s then-current officer position or materially change Employee&#8217;s title, except for promotions;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><a name="z_DV_M79"></a><font style="font-size: 12pt; color: #010000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">A material breach by Bank of any provision of this Agreement, other than a breach justifying termination pursuant to any other provision of this Agreement; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">To the extent such
            assumption does not occur as a matter of law, any failure of Bank or Holding Company to obtain the assumption of the obligation to perform this Agreement by any successor, including upon a Change in Control.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Procedure for a Termination for Good Reason</u></font>.&#160; Employee, by written notice to Bank, may terminate Employee&#8217;s employment with Bank
          for Good Reason. For Employee to have the right to resign for Good Reason, all of the following must timely occur: (i) Employee must provide Bank with written notice of the occurrence of any of the Good Reason events within ninety (90) days</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;">7</font></div>
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        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">immediately following the first occurrence of such event, and such notice must describe in detail the Good Reason event and the proposed cure to such
          event; (ii) Bank must fail to cure such event within a period of thirty (30) days from the date of receipt of such notice; and (iii) a second written notice of termination is delivered by Employee to Bank within ninety (90) days following the day
          on which the 30-day period set forth in the preceding clause (ii) expires. Unless otherwise specified in the second written notice, the date of termination shall be the date of the second written notice.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect on Other Written Agreements</u></font>.&#160; Bank intends the provisions of this Section 6 relating to a termination for Good Reason to
          be consistent with any similar terms and conditions contained in any separate written employment agreement to which Employee may be a party, but to the extent any separate written employment agreement contains different terms relating to a
          termination for Good Reason, the provisions of this Agreement shall prevail in all cases following a Change in Control.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19198625"></a><a name="z_Ref461026370"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Terminations for Other Reasons</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination by Bank without Cause</u></font>.&#160; Upon thirty (30) days&#8217; written notice to Employee, Bank may terminate Employee&#8217;s employment
          without Cause.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Termination by Employee without Good Reason</u></font>.&#160; Employee, upon sixty (60) days&#8217; written notice to Bank, may terminate Employee&#8217;s
          employment without Good Reason.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026165"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Disclosure; Return of Confidential Information and Other Property</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Access to Confidential Information</u></font>.&#160; Employee understands, acknowledges and agrees that during the course of Employee&#8217;s
          employment with Bank, Employee will gain information regarding, knowledge of and familiarity with the Confidential Information (as hereinafter defined) of Bank and its Affiliates and that if the Confidential Information was disclosed by Employee,
          Bank or any Affiliates would suffer irreparable damage and harm. Employee understands, acknowledges and agrees that the Confidential Information derives substantial economic value from, among other reasons, not being known or readily
          ascertainable by proper means by others who could obtain economic value therefrom upon disclosure. Employee acknowledges and agrees that Bank and all Affiliates use reasonable means to maintain the secrecy and confidentiality of the Confidential
          Information. For purposes of this Agreement, the term &#8220;Affiliate&#8221; means Holding Company and all subsidiaries of Holding Company and its subsidiaries.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Non-Disclosure</u></font>.&#160; At all times while Employee is employed by Bank, and at all times thereafter, Employee shall not (i) directly or
          indirectly disclose, provide or discuss any Confidential Information with or to any Person (as hereinafter defined) other than those directors, officers, employees, representatives and agents of Bank and any Affiliates who need to know such
          Confidential Information for a proper corporate purpose, and (ii) directly or indirectly use any Confidential Information (A) to compete against Bank or any Affiliates, or (B) for Employee&#8217;s own benefit or for the benefit of any Person other than
          Bank or any Affiliate. Employee agrees that all Confidential Information at all times shall remain the property of, as applicable, Bank or its Affiliates.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Confidential Information Defined</u></font>.&#160; For purposes of this Agreement, the term &#8220;Confidential Information&#8221; means any and all:</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;">8</font></div>
          <div style="page-break-after:always;" id="DSPFPageBreak">
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">materials, records,
            data, documents, lists, writings and information (whether in writing, printed, verbal, electronic, computerized, on disk or otherwise) (A) relating or referring in any manner to the business, operations, affairs, financial condition, results of
            operation, cash flow, assets, liabilities, sales, revenues, income, estimates, projections, policies, strategies, techniques, methods, products, developments, suppliers, relationships and/or customers of Bank or any Affiliate that are
            confidential, proprietary or not otherwise publicly available, in any event not without a breach of this Agreement, or (B) that Bank or any Affiliate has deemed confidential, proprietary or nonpublic;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">trade secrets of
            Bank or any Affiliate, as defined in Indiana Code Section 24&#8209;2&#8209;3&#8209;2, as amended, or any successor statute; and</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">any and all
            copies, summaries, analyses and extracts which relate or refer to or reflect any of the items set forth in (i) or (ii) above.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(d)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of Person</u></font>.&#160; For purposes of this Agreement, the term &#8220;Person&#8221; shall mean any natural person, proprietorship,
          partnership, corporation, limited liability company, bank, organization, firm, business, joint venture, association, trust or other entity and any government agency, body or authority.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(e)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Return of Confidential Information and Other Property</u></font>.&#160; Employee covenants and agrees:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">to keep all
            Confidential Information subject to Bank&#8217;s or any Affiliate&#8217;s custody and control and to promptly return to Bank or the appropriate Affiliate all Confidential Information that is still in Employee&#8217;s possession or control at the termination of
            Employee&#8217;s employment with Bank; and</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">promptly upon
            termination of Employee&#8217;s employment with Bank, to return to Bank, at Bank&#8217;s principal office, all vehicles, equipment, computers, credit cards and other property of Bank and to cease using any of the foregoing.</font></div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026178"></a><a name="z_Ref19118334"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Solicitation of Customers and Employees</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Obligations of Employee</u></font>.&#160; During the Term, and for <font style="font-weight: bold;"><u>one (1) year</u></font><font style="font-weight: bold;">&#160;</font>thereafter, Employee will not in a competitive capacity (as defined in Section 10), on behalf of any person or entity other than Bank or any Affiliate, directly or indirectly:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one year preceding
            Employee&#8217;s separation,</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert
            (or attempt to solicit or divert) or accept business from any customer of Bank or any Affiliate about whom Employee obtained Confidential Information;</font></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;">9</font></div>
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        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate with whom Employee had contact (either directly or indirectly) or over which Employee had responsibility at any time in the one
            year preceding Employee&#8217;s separation,</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">solicit, divert (or
            attempt to solicit or divert) or accept business from any identified prospective customer of Bank or any Affiliate about whom Employee has obtained confidential or proprietary information;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">encourage,
            solicit, induce, or attempt to encourage, solicit or induce any employee, service provider, agent or representative of Bank or any Affiliate, who (a) has access to, or possesses, Confidential Information, trade secrets, or other knowledge
            regarding the Bank or any Affiliate that could give a competitor an unfair advantage, or (b) within the preceding two years, has serviced or established goodwill with the Bank&#8217;s customers or acquired confidential information about those
            customers, or (c) was someone Employee had worked with, or supervised in Employee&#8217;s last two-years of employment (hereafter defined as an &#8220;Individual&#8221;), to leave his/her employment or terminate his/her relationship with Bank or any Affiliate or
            devote less than full time efforts to Bank&#8217;s or an Affiliate&#8217;s business; or</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="color: #000000;">hire
              or attempt to hire, for any competitive or other position with any competitor or other business, any Individual&#160; who has been an employee of Bank or any Affiliate at any time within the preceding one year; </font><font style="font-style: italic; color: #000000;">provided, however, </font><font style="color: #000000;">that Employee shall not be deemed to have violated this Section if an employee responds to a general advertisement for employment with the competitor.</font></font></div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118294"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 10.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Non-Competition</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>During Employment</u></font>.&#160; During Employee&#8217;s employment, Employee shall not, directly or indirectly, have any ownership interest in,
          work for, advise, manage, act as an agent or consultant for, or have any business connection or business or employment relationship with, any entity or person which competes with Bank or any of its Affiliates.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Following Termination of Employment</u></font>.&#160; For a period of <font style="font-weight: bold;"><u>one (1) year</u></font><font style="font-weight: bold;">&#160;</font>after Employee&#8217;s separation from Bank for any reason, Employee shall not:</div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in the states of
            Indiana and/or Michigan;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in any Indiana
            county or Michigan county in which Bank maintains a branch or other office;</font></div>
        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in any Indiana
            county or Michigan county in which customers of Bank reside or maintain a facility;</font></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;">10</font></div>
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        <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #010000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000; font-size: 12pt;">in the geographic
            area in which Employee has been performing services on behalf of Bank, or for which Employee has been assigned responsibility, at any time within one (1) year preceding Employee&#8217;s separation;</font></div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">directly or indirectly own, manage, finance, operate, control or participate in ownership, management, or operation of, act as an agent, consultant, or be
          employed in a Competitive Capacity with, any banking or financial institution which competes with Bank or any of its Affiliates. Employee further agrees that during that same period, Employee will not assist in the research and development of
          products or services (A) where such research and development would be aided by the Confidential Information learned in the course of Employee&#8217;s relationship with Bank; or (B) which compete with those products or services of Bank or any Affiliate.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Definition of &#8220;Competitive Capacity&#8221;</u></font>.&#160; For purposes of this Agreement, the term &#8220;<font style="font-weight: bold;">Competitive
            Capacity</font>&#8221; shall mean (i) performing tasks or duties similar to those Employee performed at Bank or any Affiliate for a competitor of Bank; (ii) managing/supervising those who, for a competitor of Bank, perform tasks or duties similar to
          those which Employee performed at Bank; or (iii) performing, on behalf of a competitor of Bank, tasks or duties in which Employee utilized any Confidential Information that Employee learned in the course of Employee&#8217;s relationship with Bank or
          any Affiliate.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118951"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 11.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Periods of Noncompliance and Reasonableness of Periods</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(a)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Acknowledgment</u></font>.&#160; Bank and Employee understand, acknowledge and agree that the restrictions and covenants contained in Sections 8,
          9 and 10 hereof are reasonable in view of the nature of the business in which Bank and the Affiliates are engaged, Employee&#8217;s position with Bank and the Affiliates and Employee&#8217;s advantageous knowledge of and familiarity with the business,
          operations, affairs and customers of Bank and the Affiliates. Employee acknowledges that the various covenants, restrictions and obligations set forth in those Sections are separate and independent obligations, and may be enforced separately or
          in any combination.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(b)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect of Employee Breach</u></font>.&#160; The time periods during which the restrictions and covenants of Sections 8, 9 and 10 are applicable
          will be extended by a period of time equal to any period during which Employee is not in compliance with such restrictions and covenants. Bank&#8217;s obligation to pay the amounts otherwise payable to Employee pursuant to this Agreement shall
          immediately terminate in the event that Employee breaches any of the provisions of Sections 8, 9 and 10 hereof. Notwithstanding the foregoing, (i) the covenants of Employee set forth in Sections 8, 9 and 10 hereof shall continue in full force and
          effect and be binding upon Employee; (ii) Bank shall be entitled to the remedies specified in Section 13 hereof; and (iii) Bank shall be entitled to its damages, costs and expenses (including, without limitation, reasonable attorney&#8217;s fees and
          expenses) resulting from or relating to Employee&#8217;s breach of any of the provisions of Sections Section 8, 9 or 10 hereof.</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;"><font style="color: #000000;">(c)<u><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">
              </font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font>Effect of Bank Breach</u></font>.&#160; Bank and Employee understand, acknowledge and agree that Employee&#8217;s entitlement to special severance
          benefits upon a Qualifying Termination following a Change in Control, and the other provisions benefiting Employee under this Agreement, are a material part of the consideration for the restrictions contained in Sections 8, 9 and 10 of this
          Agreement. Accordingly, if Bank breaches any of its material obligations to Employee that arise following termination of Employee for any reason, and the breach is not cured within thirty (30) days of written</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;">11</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>
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        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">notice of the breach, then Employee&#8217;s obligations under Sections 8, 9 and 10 of this Agreement shall be suspended.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026651"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 12.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Survival of Certain Provisions</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Employee hereby expressly agrees that upon any termination of the Term of this Agreement due to Employee&#8217;s termination of employment
          with Bank or otherwise, the provisions of Sections 8 - 24 hereof shall continue to be in full force and effect and binding upon Employee in accordance with the respective provisions of such Sections (except in the case of Bank breach as described
          in Section 11).</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref461026567"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 13.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Remedies</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Employee agrees that Bank or an Affiliate will suffer irreparable damage and injury and will not have an adequate remedy at law in the
          event of any actual, threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10. Accordingly, in the event of a breach or a threatened or attempted breach by Employee of any provision of Sections 8, 9 or 10, in addition to
          all other remedies to which Bank and Affiliates are entitled at law, in equity or otherwise, Bank and Affiliates may be entitled to a temporary restraining order and a permanent injunction or a decree of specific performance of any provision of
          Sections 8, 9 or 10. The foregoing remedies shall not be deemed to be the exclusive rights or remedies of Bank or an Affiliate for any breach of or noncompliance with this Agreement by Employee but shall be in addition to all other rights and
          remedies available to Bank or an Affiliate at law, in equity or otherwise.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19118048"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Section&#160;280G</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Anything in this Agreement to the contrary notwithstanding, in the event Bank&#8217;s independent public accountants or counsel determine that
          any payment by Bank to or for the benefit of Employee, whether paid or payable pursuant to the terms of this Agreement or otherwise, would be non-deductible by Bank for federal income tax purposes because of Section&#160;280G of the Internal Revenue
          Code, the amount payable to or for the benefit of Employee pursuant to this Agreement and all other arrangements shall be reduced (but not below zero) in a manner determined by Holding Company to the Reduced Amount. For purposes of this Section
          14, the &#8220;<font style="font-weight: bold;">Reduced Amount</font>&#8221; shall be the amount which maximizes the amount payable without causing the payment to be non-deductible by Bank because of Section&#160;280G. If two economically equivalent amounts are
          subject to reduction but are payable at different times, the amounts shall be reduced (but not below zero) on a pro rata basis.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 15.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Successors and Assigns</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement is binding upon and shall be for the benefit of the successors and assigns of Bank and Holding Company, including any
          corporation or any other form of business organization with which Bank or Holding Company may merge or consolidate, or to which it may transfer substantially all of its assets. Bank or Holding Company shall require any successor to expressly
          assume and agree, in writing, to perform this Agreement and any successor shall absolutely and unconditionally assume all of Bank&#8217;s and Holding Company&#8217;s obligations hereunder. Failure of Bank or Holding Company to obtain such agreement prior to
          the effectiveness of any such succession shall be a material breach of this Agreement and shall entitle Employee to terminate employment with Bank for Good Reason pursuant to Section 6 of this Agreement. As used in this Agreement, &#8220;Bank&#8221; shall
          mean Bank as hereinbefore defined and any successor to its business and/or assets. This Agreement may not be assigned by Bank or Holding Company without the prior written consent of Employee,</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;">12</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 id="DSPFPageHeader"></div>
        </div>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">which consent shall not be unreasonably withheld. The Agreement will also be binding upon, enforceable against, and inure to the benefit of Employee and
          Employee&#8217;s heirs and representatives, and nothing herein is intended to confer any right, remedy or benefit upon any other person. Employee shall not assign Employee&#8217;s interest in this Agreement or any part thereof.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 16.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Consent of Bank</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Any act, request, approval, consent or opinion of Bank under this Agreement, must be in writing and may be authorized, given or
          expressed only by Bank&#8217;s President or Chief Executive Officer, or by such other person as the Bank&#8217;s Board of Directors may designate.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 17.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Notices</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">All notices, requests and other communications under this Agreement will be in writing (which will include facsimile communication) and
          will be deemed to have been duly given if (a) delivered by hand; (b) sent by certified United States Mail, return receipt requested, first class postage pre-paid; (c) sent by overnight delivery service; or (d) sent by facsimile transmission if
          such fax is confirmed immediately thereafter by also mailing a copy of such notice, request or other communication by regular United States Mail, first class postage pre-paid, as follows:</div>
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              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">
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              </td>
              <td style="width: 15%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">If to Employee:</div>
              </td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Todd A. Etzler</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt; font-style: italic; font-weight: bold;">[redacted for privacy]</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">(B)</div>
              </td>
              <td style="width: 15%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">If to Bank:</div>
              </td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Horizon Bank</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">515 Franklin Street</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Michigan City, IN 46360</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 5%; vertical-align: top;">&#160;</td>
              <td style="width: 15%; vertical-align: top;">&#160;</td>
              <td style="width: 75%; vertical-align: top;">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Attn:&#160; Chief Executive Officer</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
        </div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 18.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Governing Law</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement shall be governed by and construed in accordance with the laws of the State of Indiana applicable to contracts made and
          to be performed therein.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 19.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Enforcement Expenses</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">If a dispute arises regarding the termination of Employee or as to the interpretation or enforcement of this Agreement and Employee
          obtains a final judgment in Employee&#8217;s favor in a court of competent jurisdiction or Employee&#8217;s claim is settled by Bank prior to the rendering of a judgment by such a court, all reasonable legal fees and expenses incurred by Employee in
          contesting or disputing any such termination or seeking to obtain or enforce any right or benefit provided for in this Agreement or otherwise pursuing Employee&#8217;s claims shall be paid by Bank (except as otherwise decided in any settlement between
          the parties) to the extent permitted by law.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 20.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Superseding Prior Agreements; Entire Agreement</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The Employee, Bank and Holding Company agree that as long as the provisions of Sections 8, 9 and 10 are in effect, those provisions
          shall supersede and replace any similar restrictions in any other agreement between the parties, including, but not limited to, any employment agreement,</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;">13</font></div>
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        </div>
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">non&#8209;competition or non-solicitation agreement, and any equity award agreement or plan relating thereto. This Agreement sets forth the entire understanding
          of the parties hereto with respect to its subject matter, merges and supersedes all prior and contemporaneous understandings with respect to its subject matter, and may not be waived or modified, in whole or in part, except by a writing signed by
          each of the parties hereto. No waiver of any provision of this Agreement in any instance shall be deemed to be a waiver of the same or any other provision in any other instance.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 21.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Headings</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">The headings in this Agreement have been inserted solely for ease of reference and shall not be considered in the interpretation or
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 22.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Severability</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, this Agreement shall be
          interpreted and enforceable as if such provision were severed or limited or such payment reduced, but only to the extent necessary to render such provision and this Agreement enforceable.</div>
        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 23.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Counterparts</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement may be executed in two or more counterparts, each of which shall be an original, but all of which together shall
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        <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_Ref19200003"></a><font style="font-size: 12pt; font-weight: bold; color: rgb(1, 0, 0);">Section 24.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Amendment</font>.</font></div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">This Agreement may be amended, modified or supplemented only by a written agreement executed by both of the parties hereto.</div>
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        <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-weight: bold;">IN WITNESS WHEREOF</font>, the parties hereto have executed this Agreement as of <font style="font-weight: bold;">December 31, 2019,</font> to be effective as of the Effective Date.</div>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt; font-weight: bold;">BANK</div>
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            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">&#160;</td>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">/s/ Craig M. Dwight</div>
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              <td style="width: 3%; vertical-align: top;">&#160;</td>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">/s/ Todd A. Etzler</div>
              </td>
            </tr>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Printed:&#160; <font style="font-weight: bold;">Todd A. Etzler</font></div>
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              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: top;">
                <div style="line-height: 13.7pt; font-size: 12pt;">Title:&#160; Senior Vice President &amp; General Counsel</div>
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<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>8
<FILENAME>hb_8k123119ex107.htm
<DESCRIPTION>AMENDED AND RESTATED EMPLOYMENT AGREEMENT (CRAIG M. DWIGHT)
<TEXT>
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    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.7</font><br>
    </div>
    <div> <br>
    </div>
    <div style="text-align: center;" id="DSPFPageNumberArea">&#160;
      <div style="line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;"><font style="font-size: 14pt; font-variant: small-caps;">Amended and Restated Employment Agreement</font><br>
        (Craig M. Dwight)</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;"><font style="font-variant: small-caps;">This Amended and Restated Employment Agreement</font> (the &#8220;<font style="font-weight: bold;">Agreement</font>&#8221;) is made and entered into to be effective as of January 1,
        2020 (the &#8220;<font style="font-weight: bold;">Effective Date</font>&#8221;), by and among <font style="font-variant: small-caps;">Horizon
          Bank </font>(the &#8220;<font style="font-weight: bold;">Bank</font>&#8221;), an Indiana state-chartered commercial bank formerly known as Horizon Bank, N.A., <font style="font-variant: small-caps;">Horizon Bancorp, Inc.</font> (the &#8220;<font style="font-weight: bold;">Holding Company</font>&#8221;), an Indiana
        corporation formerly known as Horizon Bancorp and a registered bank holding company, and <font style="font-variant: small-caps;">Craig M. Dwight</font> (the &#8220;<font style="font-weight: bold;">Executive</font>&#8221;), a resident of the State of Indiana. The Bank and the Holding Company are referred to herein jointly as the &#8220;<font style="font-weight: bold;">Company</font>.&#8221; This Agreement updates, amends, restates, supersedes and replaces in its entirety the Employment Agreement, dated December 1, 2006, by and among the parties.</div>
      <div style="line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt; font-variant: small-caps; font-weight: bold;"> <br>
      </div>
      <div style="line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt; font-variant: small-caps; font-weight: bold;">W I T N E S S E T H:</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">WHEREAS, Bank is a wholly-owned subsidiary of the Holding Company; and</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">WHEREAS, the Executive is currently employed by the Company and is currently serving as the
        Chairman and Chief Executive Officer of the Bank and the Holding Company; and</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">WHEREAS, the Company desires to continue the employment of the Executive, and the Executive
        desires to continue to be employed by the Company, in accordance with the provisions of this Agreement; and</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">WHEREAS, in addition to the employment provisions contained herein, the Company and the
        Executive have agreed to certain restrictions, covenants, agreements and severance payments, as set forth in this Agreement; and</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">WHEREAS, the Executive is willing to commit to continue in the performance of such services
        for the Company upon the terms and conditions set forth herein;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">NOW, THEREFORE, in consideration of the foregoing premises, the mutual covenants, agreements
        and obligations contained herein, the continued employment of the Executive by the Company pursuant to this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the
        Executive, each intending to be legally bound, hereby agree as follows:</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">Section 1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;">Employment; Term.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Employment</u>. Unless terminated earlier as provided herein, the Company hereby agrees to employ the
          Executive, and the Executive hereby agrees to be employed by the Company, on a full-time basis in accordance with the provisions of this Agreement.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Term</u>. Unless terminated earlier as provided herein, the initial term of the Executive&#8217;s employment
          with the Company hereunder will begin on the Effective Date of this Agreement and will end on the date which is three years following the date hereof (<font style="font-style: italic;">i.e.</font>, January 1, 2023). The initial term of this Agreement and all extensions thereof, if any, are hereinafter referred to individually and collectively as the &#8220;<font style="font-weight: bold;">Term</font>&#8221;).</font></div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">Section 2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;">Position; Duties; Responsibilities.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Position</u>. During the Term, the Executive will be the Chairman and Chief Executive Officer of the Bank
          and the Holding Company and will perform such duties and</font></div>
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      <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">responsibilities as may be assigned by the board of directors of the Bank or the Holding
        Company and which are not unreasonably inconsistent with the duties currently being performed by the Executive.</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Duties and Responsibilities</u>. During the Term, the Executive will devote substantially all business
          time, attention and energy, and reasonable best efforts, to the interests and business of the Bank, the Holding Company and their affiliates and subsidiaries (collectively &#8220;<font style="font-weight: bold;">Affiliates</font>&#8221;) and to the performance of the Executive&#8217;s duties and responsibilities on behalf of the Company and any Affiliate. The Executive may use his discretion in fixing the hours and schedule of work
          consistent with the proper discharge of the Executive&#8217;s duties. The Executive, subject to the direction and control of the board of directors of the Bank and of the Holding Company, will have all power and authority commensurate with the
          Executive&#8217;s status and necessary to perform his duties hereunder. During the Term, the Executive will not serve on the board of directors of any for-profit organization without the prior consent of the Holding Company&#8217;s board of directors (the &#8220;<font style="font-weight: bold;">Board</font>&#8221;).</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Working Conditions</u>. So long as the Executive is employed by the Company pursuant to this Agreement,
          the Executive will be entitled to office space and working conditions consistent with his position as Chairman and Chief Executive Officer of the Bank and the Holding Company. The Company will provide the Executive with such assistance and
          working accommodations as are suitable to the character of his positions with the Company and as are adequate for the performance of the Executive&#8217;s duties. The Executive will not be required to be absent from the location of the principal
          executive offices of the Company on travel status or otherwise more than 30 days in any calendar year. The Company will not, without the written consent of the Executive, relocate or transfer Executive to a location more than 30 miles from his
          principal residence.</font></div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">Section 3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;">Compensation and Employee Benefits.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Base Salary</u>. During the Term, for all services rendered to or on behalf of the Company by the
          Executive in all capacities pursuant to this Agreement or otherwise, the Company will pay to the Executive an annual base salary equal to the amount being paid to the Executive as of the date of this Agreement (the &#8220;<font style="font-weight: bold;">Base Salary</font>&#8221;), which Base Salary will be adjusted in accordance with this Section. At approximately annual intervals, after the end of each fiscal year of the Bank during
          the Term, the Compensation Committee of the Board (the &#8220;<font style="font-weight: bold;">Committee</font>&#8221;) will review, or will cause to be reviewed, the Base Salary payable to the
          Executive, giving attention to all factors that the Committee deems pertinent, including, without limitation, the performance of the Bank, the Holding Company and any Affiliate, the performance of the Executive and the compensation practices
          inside and outside of the Company. The Committee will, after such annual review, determine the Base Salary to be paid until the completion of the next annual review, but such new Base Salary will not be less than the Base Salary as of the
          Effective Date hereof. The Base Salary will be paid to the Executive in accordance with the Bank&#8217;s usual and customary payroll practices applicable to its employees generally.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Incentive Compensation</u>. During the Term, the Executive will be entitled to participate in all
          incentive compensation plans and programs in effect from time to time</font></div>
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      <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">and generally available to executive officers of the Company, subject to the terms and
        conditions of such plans and programs.</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Employee Benefit Plans</u>. During the Term, the Executive will be entitled to participate in all employee
          benefit plans and programs in effect from time to time and generally available to executive officers of the Company, subject to the terms and conditions of such plans and programs.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Other Policies</u>. All other matters relating to the employment of the Executive by the Company not
          specifically addressed in this Agreement, or in the plans and programs referenced above (including, without limitation, vacation, sick and other paid time off), will be subject to the employee handbooks, rules, policies and procedures of the
          Company in effect from time to time.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Taxes and Other Amounts</u>. All taxes (other than the Company&#8217;s portion of FICA taxes) on the Base Salary
          and other amounts payable to the Executive pursuant to this Agreement or any plan or program will be paid by the Executive. The Company will be entitled to withhold from the Base Salary and all other amounts payable to the Executive pursuant to
          this Agreement or any plan or program (i) applicable withholding taxes, and (ii) such other amounts as may be authorized by the Executive in writing.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Acknowledgment by the Executive</u>. Notwithstanding anything herein to the contrary, the Executive hereby
          understands, acknowledges and agrees that the Bank or Holding Company may, each in its sole discretion, amend, modify, freeze, suspend or terminate any or all of the incentive compensation, stock option, employee benefit and other plans and
          programs referenced herein at any time and from time to time in the future as provided in such plans and programs. Any such amendment, modification, freezing, suspension or termination will not affect any of the Executive&#8217;s vested or accrued
          benefits under any such plans or programs.</font></div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">Section 4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;">Termination of Employment.</font></div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">Subject to the respective continuing obligations of the parties hereto set forth in this
        Agreement, the Executive&#8217;s employment with the Company may be terminated during the Term in any of the following ways:</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination by the Company for Cause</u>. The Company, upon written notice to the Executive, may terminate
          the Executive&#8217;s employment with the Company immediately (except as otherwise expressly provided herein with respect to the Executive&#8217;s limited right to cure) for Cause. For purposes of this Agreement, &#8220;Cause&#8221; is defined as any of the following
          actions:</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">An intentional act of fraud, embezzlement, theft, or personal dishonesty; willful misconduct, or breach of fiduciary duty involving personal profit by the Executive in the course of the
          Executive&#8217;s employment; provided, however, that (A) no act or failure to act will be deemed to have been intentional or willful if it was due primarily to an error in judgment or negligence; and (B) an act or failure to act will only be
          considered intentional or willful if it is not in good faith and if it is without a reasonable belief that the action or failure to act is in the best interest of the Company or any Affiliate;</font></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
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        <div id="DSPFPageHeader"></div>
      </div>
      <div style="line-height: 14.75pt; margin-bottom: 8pt;"><br style="line-height: 14.75pt;">
      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Intentional damage by the Executive to the business or property of the Company or any Affiliate, causing material harm to the Company or any Affiliate;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Material breach by the Executive of any provision of this Agreement or any change in control or similar agreement the Executive is a party to;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Gross negligence or insubordination by the Executive in the performance of the Executive&#8217;s duties, or the Executive&#8217;s refusal or repeated failure to carry out lawful directives of the Board of
          Directors of Bank or Holding Company or of any other supervisor;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Removal or permanent prohibition of the Executive from participating in the conduct of the affairs of Bank or Holding Company or any Affiliate by an order issued under subsection 8(e)(4) or
          8(g)(1) of the Federal Deposit Insurance Act, 12 USC &#167;&#167; 1818(e)(4) and (g)(1).</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination by the Company Without Cause</u>. The Company, upon not less than 30 days prior written notice
          to the Executive, may terminate the Executive&#8217;s employment with the Company without Cause.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination by the Executive for Good Reason</u>. The Executive, upon written notice to the Company, may
          terminate his employment with the Company immediately (except as otherwise expressly provided herein with respect to the Company&#8217;s limited right to cure) for Good Reason. For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Good Reason</font>&#8221; is defined as the occurrence of any of the following events:</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The requirement that the Executive move the Executive&#8217;s office to a location more than thirty (30) miles from the Executive&#8217;s principal residence as of the date of this Agreement;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">A reduction of ten percent (10%) or more in the Executive&#8217;s then-current annual base salary, unless part of an institution-wide reduction and proportionate to the reduction in the annual base
          salary of all other executive officers of the Company;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The removal of the Executive from participation in any incentive compensation or performance-based compensation plans which results in a reduction of ten percent (10%) or more
          in the Executive&#8217;s total compensation, unless the Company terminates participation in the plan or plans with respect to all other executive officers of the Company;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M75"></a><font style="font-size: 12pt; color: #000000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The taking of any action by Bank or Holding Company which would directly or indirectly reduce any material benefit plan or program or deprive the Executive of any such benefit
          enjoyed by the Executive, resulting in a reduction of ten percent (10%) or more in the Executive&#8217;s total compensation, unless part of an institution-wide reduction and applied similarly to all other executive officers of the Company;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M76"></a><font style="font-size: 12pt; color: #000000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The assignment to the Executive of duties and responsibilities materially different from those normally associated with the Executive&#8217;s position;</font></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
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        <div id="DSPFPageHeader"></div>
      </div>
      <div style="text-align: left; line-height: 14.75pt; margin-bottom: 8pt;"><a name="z_DV_M77"></a><a name="z_DV_M78"></a><br style="line-height: 14.75pt;">
      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">A material diminution or reduction in the Executive&#8217;s duties, responsibilities or authority (including reporting responsibilities) normally associated with the Executive&#8217;s position;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Any action by the Company to remove the Executive from the Executive&#8217;s then-current officer position or materially change the Executive&#8217;s title, except for promotions and
          except for removal from office for Cause;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M79"></a><font style="font-size: 12pt; color: #000000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">A material breach by the Company of any provision of this Agreement, other than a breach justifying termination pursuant to any other provision of this Agreement; or</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">To the extent such assumption does not occur as a matter of law, any failure of Bank or Holding Company to obtain the assumption of the obligation to perform this Agreement by any successor,
          including upon a change in control.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination by the Executive Without Good Reason</u>. The Executive, upon not less than 60 days prior
          written notice to the Bank, may terminate his employment with the Company without Good Reason.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination in the Event of Death or Disability</u>. The Executive&#8217;s employment hereunder will terminate
          immediately upon the death of the Executive. The Executive&#8217;s employment with the Company may be terminated by the Company in the event of the occurrence of a Disability of the Executive. For purposes hereof, a &#8220;<font style="font-weight: bold;">Disability</font>&#8221; is defined as the Executive&#8217;s inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment
          which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months. If, by reason of any medically determinable physical or mental impairment that can be expected to result in death or last for
          a continuous period of not less than 12 months, the Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan sponsored by the Company, the Executive will be deemed to be
          Disabled. The Compensation Committee of the Board will be the sole and final judge of whether the Executive is Disabled for purposes of this Agreement, after consideration of any evidence it may require, including the reports of any physician or
          physicians it may designate.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Notice and Date of Termination</u>. Any termination of the Executive&#8217;s employment with the Company as
          contemplated by this Section 4, except in the event of the Executive&#8217;s death, will be communicated in writing by the terminating party to the other party hereto. Any notice of termination will indicate the specific provisions of this Agreement
          relied upon and, if applicable, will set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination. The last day of the Executive&#8217;s employment with the Company will be referred to herein as the &#8220;<font style="font-weight: bold;">Date of Termination</font>.&#8221;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Limited Right to Cure by the Company and the Executive</u>.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">In the event that the Company desires to terminate the Executive&#8217;s employment for Cause pursuant to subsection 4(a)(iii), the Company, upon written notice to the Executive, may terminate the
          Executive&#8217;s employment for Cause, which will terminate the Executive&#8217;s employment and right to compensation</font></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
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      </div>
      <div style="line-height: 14.75pt; margin-bottom: 8pt;"><br style="line-height: 14.75pt;">
      </div>
      <div style="text-align: justify; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">immediately, except in the limited case expressly provided herein with respect to Causes that
        are curable. The written notice will (A) indicate the specific provisions of this Agreement relied upon for such termination; (B) set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination; (C) state
        whether the Board of Directors of the Holding Company has determined in good faith that the issue is curable; and (D) if the issue has been deemed curable, describe the steps, actions, events or other items that must be taken, completed or followed
        by the Executive to correct or cure the basis for such termination. If (but only if) the basis for termination has been deemed curable by the Board of Directors, then the Executive will have thirty (30) days following the effective date of such
        notice to fully correct and cure the basis for the termination of the Executive&#8217;s employment. If the Executive does not fully correct and cure the basis for the termination of the Executive&#8217;s employment within such 30-day period, then the Company
        will have the right to terminate the Executive&#8217;s employment immediately for Cause upon delivering to the Executive a second written notice of termination and without any further cure period. Unless otherwise specified in the written notice, the
        date of termination shall be the date of the first written notice, in the case of an uncurable Cause, and shall be the date of the second written notice, in the case of a curable but uncured Cause. Notwithstanding the foregoing, the Executive will
        be entitled to so correct and cure only a maximum of two times during any calendar year.</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">In the event that the Executive desires to terminate the Executive&#8217;s employment with the Company for Good Reason pursuant to subsection 4(c), all of the following must timely occur: (A) within
          ninety (90) days immediately following the first occurrence of such event, the Executive must deliver to the Company a written notice describing, in reasonable detail, the Good Reason event and the proposed cure to such event; (B) the Company
          must fail to cure such event during the thirty (30) days from the date of receipt of such notice; and (C) a second written notice of termination must be delivered by the Executive to the Company within ninety (90) days following the day on which
          the 30-day cure period set forth in the preceding clause (B) expires. The Executive&#8217;s employment with the Company will terminate immediately upon delivery of the second written notice of termination. Notwithstanding the foregoing, the Company
          will be entitled to so correct and cure only a maximum of two times during any calendar year.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(h)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Regulatory Restrictions</u>.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">If Executive is removed and/or permanently prohibited from participating in the conduct of the Bank&#8217;s affairs by an order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit
          Insurance Act (&#8220;<font style="font-weight: bold;">FDIA</font>&#8221;) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Company under this Agreement shall terminate as of the
          effective date of the order, but vested rights of the parties shall not be affected.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">If the Bank is in default (as defined in Section 3(x)(1) of FDIA), all obligations of the Company under this Agreement shall terminate as of the date of default; however, this subsection shall
          not affect the vested rights of the parties.</font></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
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        <div id="DSPFPageHeader"></div>
      </div>
      <div style="line-height: 14.75pt; margin-bottom: 8pt;"><br style="line-height: 14.75pt;">
      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">All obligations under this Agreement shall terminate, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank:
          (A) by the Indiana Department of Financial Institutions (the &#8220;<font style="font-weight: bold;">DFI</font>&#8221;) or its designee, or the Bank&#8217;s primary federal regulator at the time that
          the Federal Deposit Insurance Corporation (&#8220;<font style="font-weight: bold;">FDIC</font>&#8221;) enters into an agreement to provide assistance to or on behalf of the Bank under the
          authority contained in Section 13(c) of FDIA; or (B) by the DFI, or its designee, or the Bank&#8217;s primary federal regulator, at the time that the DFI, or its designee, or the Bank&#8217;s primary federal regulator, approves a supervisory merger to
          resolve problems related to the operation of the Bank or when the Bank is determined by the DFI, or the Bank&#8217;s primary federal regulator, to be in an unsafe or unsound condition. Any such action shall not affect any vested rights of the parties.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">If a notice served under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) or (g)(1)) suspends and/or temporarily prohibits Executive from participating in the conduct of the Bank&#8217;s
          affairs, the Company&#8217;s obligations under this Agreement shall be suspended as of the effective date of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Company may, in its sole discretion, (A)
          pay Executive all or part of the compensation withheld while its contract obligations were suspended, and/or (B) reinstate (in whole or in part) any of its obligations which were suspended.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Notwithstanding anything to the contrary contained herein, Executive acknowledges and agrees that any payments made to Executive pursuant to this Agreement, or otherwise, are subject to and
          conditioned upon compliance with the provisions of 12 U.S.C. 1828(k) and Part 359 of the FDIC&#8217;s regulations (12 C.F.R. Part 359), which provisions contain certain prohibitions and limitations on making &#8220;golden parachute&#8221; and certain
          indemnification payments by FDIC-insured institutions and their holding companies. In the event any payments to Executive pursuant to this Agreement are prohibited or limited by the provisions of such statute and/or regulations, Bank and/or
          Holding Company (A) shall pay the maximum amount that may be paid after applying such limitations; and (B) will use commercially reasonable efforts to obtain the consent of the appropriate regulatory authorities to the payment of any amount that
          otherwise cannot be paid due to the application of such limitations. Executive agrees that Bank and/or Holding Company shall not have breached any obligations under this Agreement if they are unable to pay all or some portion of any payment due
          to Executive as a result of the application of these limitations.</font></div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">Section 5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;">Payment Upon Termination of Employment.</font></div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">Upon the termination of the Executive&#8217;s employment with the Company pursuant to Section 4,
        the Executive will receive the following:</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination by the Company for Cause, by the Executive Without Good Reason or Due to Death or Disability of the
              Executive</u>. Upon the termination of the Executive&#8217;s employment by the Company for Cause pursuant to subsection 4(a), by the Executive without Good Reason pursuant to subsection 4(d) or in the event of termination</font></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
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        <div id="DSPFPageHeader"></div>
      </div>
      <div style="line-height: 14.75pt; margin-bottom: 8pt;"><br style="line-height: 14.75pt;">
      </div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">due to the death or Disability of the Executive pursuant to subsection 4(e), the Company will
        pay or provide to the Executive the following amounts and benefits:</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">that portion of the Executive&#8217;s Base Salary earned through the Date of Termination, payable in accordance with normal payroll practices;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">all amounts that have vested or accrued prior to the Date of Termination under all incentive compensation or employee benefit plans of the Bank or Holding Company in accordance with the
          provisions of such plans; and</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">notwithstanding the foregoing, all options granted to the Executive to purchase shares of common stock of the Holding Company and all shares of restricted stock of the Holding
          Company (whether such options and restricted shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and the Executive.</font></div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">It is noted that nothing in this Agreement will serve to prevent the Executive from receiving
        long term disability payments from the Company&#8217;s long term disability program, if any, if the Executive is otherwise eligible to receive benefits under such a program.</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination by the Company Without Cause or by the Executive With Good Reason</u>. Upon the termination of
          the Executive&#8217;s employment by the Company without Cause pursuant to subsection 4(b) or by the Executive with Good Reason pursuant to subsection 4(c), the Company will pay or provide to the Executive the following amounts and benefits:</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">that portion of the Executive&#8217;s Base Salary earned through the Date of Termination, payable in accordance with normal payroll practices;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">an amount equal to two times the Executive&#8217;s annual Base Salary in effect as of the date immediately preceding the Date of Termination plus an amount equal to the Executive&#8217;s cash bonuses paid
          or payable for the last two calendar years preceding the Date of Termination, all payable as of the date of the first payroll following the Date of Termination and delivery of the Release (as defined in Section 5(d)) and the lapse of all
          applicable revocation periods, or as soon as administratively practicable thereafter;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">continued participation in the group health insurance and group life insurance benefits which the Executive would have been eligible to participate in or receive on the day
          prior to the Date of Termination (&#8220;<font style="font-weight: bold;">Insurance Programs</font>&#8221;) beginning on the Date of Termination and continuing for a period of two years (&#8220;<font style="font-weight: bold;">Benefit Continuation Term</font>&#8221;), but only to the extent the Executive continues to qualify for participation therein. If the Executive is not permitted
          to continue participation in those Insurance Programs, the Company will reimburse the Executive for the costs of health insurance and life insurance benefits for the Benefit Continuation Term; <font style="font-style: italic;">provided, however, </font>the amount of these benefits will be limited to an amount equal to 110% of the Company&#8217;s then current cost of providing comparable benefits under the Insurance Programs;</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">all amounts that have vested or accrued prior to or on the Date of Termination (or otherwise are or become payable to the Executive) under all incentive compensation or other qualified and
          non-qualified employee benefit plans</font></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">8</font></div>
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        <div id="DSPFPageHeader"></div>
      </div>
      <div style="line-height: 14.75pt; margin-bottom: 8pt;"><br style="line-height: 14.75pt;">
      </div>
      <div style="text-align: justify; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">of the Holding Company or Bank in accordance with the provisions of such plans and past
        practices of Holding Company or Bank, including without limitation, any Bank contributions or matches related to those amounts. For purposes of clarification, the intent of this Section is for the Executive to receive all amounts attributable to
        the Executive&#8217;s participation in such plans, as now or hereafter existing, up to and including the Date of Termination, regardless of whether the amounts are historically deposited or credited to individual employee accounts or subject to Board of
        Director approval on a date beyond the Date of Termination, and Bank agrees to compute and pay, deposit or credit all such amounts as soon as possible after the Date of Termination if not capable of being calculated, paid, deposited or credited
        prior to the Date of Termination; and</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">notwithstanding the foregoing, all options granted to the Executive to purchase shares of common stock of the Holding Company and all shares of restricted stock of the Holding Company (whether
          such options and restricted shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and the Executive.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Delay of Payment of Benefits in Certain Circumstances</u>.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Separation from Service</u>. &#8220;<font style="font-weight: bold;">Separation from Service</font>&#8221; means the date on which the Executive dies, retires or otherwise experiences a Termination of Employment with the Company; <font style="font-style: italic;">provided, however</font>, a Separation from Service does not occur if the Executive is on military leave, sick leave or other bona fide leave of absence (such as temporary employment by the government) if the period
          of such leave does not exceed six months, or if the leave is for a longer period, so long as the individual&#8217;s right to reemployment with the Company is provided either by statute or by contract. If the period of leave exceeds six months and the
          Executive&#8217;s right to reemployment is not provided either by statute or contract, there will be a Separation from Service on the first date immediately following such six-month period. The Executive will incur a &#8220;<font style="font-weight: bold;">Termination of Employment</font>&#8221; when a termination of employment is incurred under Treasury Regulation Section 1.409A-1(h)(ii).</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Suspension of Payments to Specified Employees</u>. To the extent such suspension is required by Section
          409A of the Internal Revenue Code of 1986, as amended (&#8220;<font style="font-weight: bold;">Code</font>&#8221;) or Treasury Regulations issued pursuant to Code Section 409A, if an amount is
          payable to the Executive due to the Executive&#8217;s Separation from Service for a reason other than the Executive&#8217;s death, and if at the time of the Separation from Service the Executive is a &#8220;<font style="font-weight: bold;">Specified Employee</font>,&#8221; payment of all amounts which constitute deferred compensation under Code Section 409A to the Executive under the Agreement will be suspended for six months following such
          Separation from Service. The Executive will receive payment of such amounts on the first day following the six-month suspension period.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 108pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(A)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">A &#8220;<font style="font-weight: bold;">Specified Employee</font>&#8221; means an individual who is a &#8220;<font style="font-weight: bold;">Key Employee</font>&#8221; of the Company at a time when the Holding Company&#8217;s stock is publicly traded on an established securities market. The Executive will</font></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
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        <div id="DSPFPageHeader"></div>
      </div>
      <div style="line-height: 14.75pt; margin-bottom: 8pt;"><br style="line-height: 14.75pt;">
      </div>
      <div style="text-align: justify; margin-left: 108pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">be a Specified Employee on the first day of the fourth month following any &#8220;<font style="font-weight: bold;">Identification Date</font>&#8221; on which the Executive is a Key Employee.</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 108pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(B)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The Executive is a &#8220;<font style="font-weight: bold;">Key Employee</font>&#8221; if at any time during the 12-month period ending on an
          Identification Date the Executive is: (i) an officer of the Company having annual compensation greater than $175,000 (as adjusted in accordance with the requirements of Code Section 409A); (ii) a five-percent owner of the Company; or (iii) a
          one-percent owner of the Company having an annual compensation greater than $150,000. For purposes of determining whether an Executive is an officer under clause (i), no more than 50 employees (or, if lesser, the greater of three or ten percent
          of the employees) will be treated as officers, and those categories of employees listed in Code Section 414(q)(5) will be excluded.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 108pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(C)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The &#8220;<font style="font-weight: bold;">Identification Date</font>&#8221; for purposes of this Agreement is December 31 of each calendar
          year.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Certain Limitations</u>. All amounts payable to the Executive pursuant to this Section 5 will be subject
          to the following limitations:</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">amounts payable pursuant to this Section will be subject to the terms of subsections 5(c) and 5(e) and paid only so long as the Executive is not in breach of any of the provisions of this
          Agreement; and</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">payment will be made pursuant to this Section only if the Executive executes a full release of claims relating to the Executive&#8217;s employment by the Company and/or any Affiliate in favor of such
          parties in a form reasonably acceptable to, and provided by, the Company (the &#8220;<font style="font-weight: bold;">Release</font>&#8221;). The Company will set a deadline for return of the
          Release that will be no later than sixty (60) days following the termination of employment, and the Release must remain unrevoked during any revocation period.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>280G Cutback.</u> Anything in this Agreement to the contrary notwithstanding, in the event the Company&#8217;s
          independent public accountants determine that any payment by the Company to or for the benefit of the Executive, whether paid or payable pursuant to the terms of this Agreement or otherwise, would be non-deductible by the Company for federal
          income tax purposes because of Section 280G of the Internal Revenue Code of 1986, as amended, the amount payable to or for the benefit of the Executive pursuant to this Agreement and all other arrangements shall be reduced (but not below zero) in
          a manner determined by the Company to the Reduced Amount. For purposes of this Section, the &#8220;<font style="font-weight: bold;">Reduced Amount</font>&#8221; shall be the amount which
          maximizes the amount payable without causing the payment to be non-deductible by the Company because of Section 280G. If two economically equivalent amounts are subject to reduction but are payable at different times, the amounts shall be reduced
          (but not below zero) on a pro rata basis.</font></div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">Section 6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;">Survival of Certain Provisions.</font></div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">Upon any termination of the Executive&#8217;s employment with the Company, the Executive and the
        Company hereby expressly agree that the provisions of Sections 5, 6, 7, and 8 will continue to be in full force and effect and binding upon the Executive and the Company in accordance with the applicable respective provisions of such Sections.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
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        <div id="DSPFPageHeader"></div>
      </div>
      <div style="line-height: 14.75pt; margin-bottom: 8pt;"><br style="line-height: 14.75pt;">
      </div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">Section 7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;">Indemnification.</font></div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">The Company will indemnify the Executive (and his legal representatives or other successors)
        to the fullest extent permitted (including payment of expenses in advance of final disposition of the proceeding) by the Articles of Incorporation and By-Laws of the Company as in effect at such time. The Executive will be entitled to the
        protection of any insurance policies the Company may elect to maintain generally for the benefit of its directors and officers, against all costs, charges and expenses whatsoever incurred or sustained by him or his legal representatives in
        connection with any action, suit or proceeding to which he (or his legal representatives or other successors) may be made a party by reason of his being or having been a director, officer or employee of the Company or any of its subsidiaries. If
        any action, suit or proceeding is brought or threatened against the Executive in respect of which indemnity may be sought against the Company pursuant to the foregoing, the Executive will notify the Company promptly in writing of the institution of
        such action, suit or proceeding, and the Company will assume the defense thereof and the employment of counsel and payment of all fees and expenses.</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">Section 8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;">Miscellaneous.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Assignment</u>. This Agreement is personal in nature and no party hereto will, without the prior written
          consent of the other party hereto, assign or transfer this Agreement or any rights or obligations hereunder, except as provided pursuant to subsection 8(p) or as otherwise provided herein. Without limiting the foregoing, the Executive&#8217;s right to
          receive compensation hereunder will not be assignable or transferable by the Executive, whether by pledge, creation of a security interest or otherwise, other than a transfer by the Executive&#8217;s will or by the laws of descent, and in the event of
          any attempted assignment or transfer contrary to this Section, the Company will have no liability to pay any amounts so attempted to be assigned or transferred. Notwithstanding the foregoing or anything herein to the contrary, this Agreement may
          be assigned by the Company to any Affiliate without the prior consent of the Executive.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Waiver</u>. Either party hereto may, by a writing signed by the waiving party, waive the performance by
          the other party of any of the covenants or agreements to be performed by such other party under this Agreement. The waiver by either party hereto of a breach of or noncompliance with any provision of this Agreement will not operate or be
          construed as a continuing waiver or a waiver of any other or subsequent breach or noncompliance hereunder. The failure or delay of either party at any time to insist upon the strict performance of any provision of this Agreement or to enforce its
          rights or remedies under this Agreement will not be construed as a waiver or relinquishment of the right to insist upon strict performance of such provision, or to pursue any of its rights or remedies for any breach hereof, at a future time.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Amendment</u>. This Agreement may be amended, modified or supplemented only by a written agreement
          executed by all of the parties hereto.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Headings</u>. The headings in this Agreement have been inserted solely for ease of reference and will not
          be considered in the interpretation or construction of this Agreement.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Severability</u>. In case any one or more of the provisions (or any portion thereof) contained herein
          will, for any reason, be held to be invalid, illegal or unenforceable</font></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font></div>
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      </div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">in any respect, such invalidity, illegality or unenforceability will not affect any other
        provision of this Agreement, but this Agreement will be construed as if such invalid, illegal or unenforceable provision or provisions (or portion thereof) had never been contained herein.</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Counterparts</u>. This Agreement may be executed in any number of counterparts, each of which will be an
          original, but such counterparts will together constitute one and the same agreement.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Construction</u>. This Agreement will be deemed to have been drafted by both parties hereto. This
          Agreement will be construed in accordance with the fair meaning of its provisions and its language will not be strictly construed against, nor will ambiguities be resolved against, any party.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(h)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Review and Consultation</u>. The Executive hereby acknowledges and agrees that he (i) has read this
          Agreement in its entirety prior to executing it, (ii) understands the provisions, effects and restrictions of this Agreement, (iii) has consulted with such of his own attorneys, accountants and financial and other advisors as he has deemed
          appropriate in connection with his execution of this Agreement, and (iv) has executed this Agreement voluntarily. <font style="font-weight: bold;">THE EXECUTIVE HEREBY UNDERSTANDS,
            ACKNOWLEDGES AND AGREES THAT HE HAS NOT RECEIVED ANY ADVICE, COUNSEL OR RECOMMENDATION WITH RESPECT TO THIS AGREEMENT FROM ANY DIRECTOR OR EMPLOYEE OF, OR ANY ATTORNEY, ACCOUNTANT OR ADVISOR FOR, THE BANK OR THE HOLDING COMPANY</font>.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Attorneys&#8217; Fees</u>. Each party hereto will pay the other party&#8217;s reasonable costs and expenses
          (including, without limitation, reasonable attorneys&#8217; fees and disbursements) in connection with such other party successfully enforcing any provision or provisions of this Agreement (except as otherwise provided herein) against the breaching
          party (whether by litigation, arbitration, mediation, settlement or negotiation).</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(j)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Entire Agreement</u>. This Agreement supersedes and novates all other prior understandings, commitments,
          representations, negotiations, contracts and agreements, whether oral or written, between the parties hereto relating to the matters contemplated hereby and constitutes the entire understanding and agreement between the parties hereto relating to
          the subject matter hereof. In particular, as referred to in the Preamble, this Agreement supersedes, novates and replaces the Employment Agreement, dated December 1, 2006, by and among the parties, and all amendments and addendums thereto.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(k)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Certain References</u>. Whenever in this Agreement a singular word is used, it also will include the
          plural wherever required by the context and vice-versa. All references to the masculine, feminine or neuter genders herein will include any other gender, as the context requires. Unless expressly provided otherwise, all references in this
          Agreement to days will mean calendar, not business, days.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(l)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Governing Law</u>. This Agreement will be governed by and construed in accordance with the laws of the
          State of Indiana applicable to contracts made and to be performed therein.</font></div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(m)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Notices</u>. All notices, requests and other communications hereunder will be in writing (which will
          include facsimile communication) and will be deemed to have been</font></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">12</font></div>
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      </div>
      <div style="line-height: 14.75pt; margin-bottom: 8pt;"><br style="line-height: 14.75pt;">
      </div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">duly given if (i) delivered by hand; (ii) sent by certified United States Mail, return
        receipt requested, first class postage pre-paid; (iii) sent by overnight delivery service; or (iv) sent by facsimile transmission if such fax is confirmed immediately thereafter by also mailing a copy of such notice, request or other communication
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              <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Attention: Chairman of the Compensation Committee of the Board of Directors</div>
              <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">515 Franklin Street</div>
              <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Michigan City, Indiana 46360</div>
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              <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Attention: President</div>
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              <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Michigan City, Indiana 46360</div>
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      <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">or to such other address or facsimile number as any party hereto may have furnished to the
        other parties in writing in accordance herewith, except that notices of change of address or facsimile number will be effective only upon receipt. All such notices, requests and other communications will be effective (i) if delivered by hand, when
        delivered; (ii) if sent by mail in the manner provided herein, two business days after deposit with the United States Postal Service; (iii) if sent by overnight express delivery service, on the next business day after deposit with such service; or
        (iv) if sent by facsimile transmission, on the date indicated on the fax confirmation page of the sender if such fax also is confirmed by mail in the manner provided herein.</div>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt; font-weight: bold;">HORIZON BANK</div>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt; font-weight: bold;">ATTEST</div>
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              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 42%; vertical-align: top;">&#160;</td>
              <td style="width: 10%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 42%; vertical-align: top;">&#160;</td>
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            <tr>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 42%; vertical-align: top;">&#160;</td>
              <td style="width: 10%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 42%; vertical-align: top;">&#160;</td>
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              <td style="width: 42%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">James D. Neff</div>
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              <td style="width: 10%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
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              <td style="width: 39%; vertical-align: top;">&#160;</td>
              <td style="width: 10%; vertical-align: top;">&#160;</td>
              <td style="width: 6%; vertical-align: top;">&#160;</td>
              <td style="width: 39%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 6%; vertical-align: top;">&#160;</td>
              <td style="width: 39%; vertical-align: top;">&#160;</td>
              <td style="width: 10%; vertical-align: top;">&#160;</td>
              <td style="width: 6%; vertical-align: top;">&#160;</td>
              <td style="width: 39%; vertical-align: top;">&#160;</td>
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                <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">/s/ James D. Neff</div>
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              <td style="width: 4%; vertical-align: top;">&#160;</td>
              <td style="width: 41%; vertical-align: top;">&#160;</td>
              <td style="width: 10%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top;">&#160;</td>
              <td style="width: 41%; vertical-align: top;">&#160;</td>
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              <td style="width: 4%; vertical-align: top;">&#160;</td>
              <td style="width: 41%; vertical-align: top;">&#160;</td>
              <td style="width: 10%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top;">&#160;</td>
              <td style="width: 41%; vertical-align: top;">&#160;</td>
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              <td style="width: 4%; vertical-align: top;">&#160;</td>
              <td style="width: 41%; vertical-align: top;">&#160;</td>
              <td style="width: 10%; vertical-align: top;">&#160;</td>
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              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 42%; vertical-align: top;">&#160;</td>
              <td style="width: 10%; vertical-align: top;">&#160;</td>
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              <td style="width: 42%; vertical-align: top;">&#160;</td>
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              </td>
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      <font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">15</font></div>
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<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>9
<FILENAME>hb_8k123119ex108.htm
<DESCRIPTION>AMENDED AND RESTATED EMPLOYMENT AGREEMENT (JAMES D. NEFF)
<TEXT>
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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 10.8</font><br>
  </div>
  <div> <br>
  </div>
  <div>
    <div style="text-align: center; line-height: 13.7pt; margin-bottom: 18pt; font-size: 12pt; font-weight: bold;"><font style="font-size: 14pt; font-variant: small-caps;">Amended and Restated Employment Agreement</font><br>
      (James D. Neff)</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;"><font style="font-variant: small-caps;">This Amended and Restated Employment Agreement</font> (the &#8220;<font style="font-weight: bold;">Agreement</font>&#8221;) is made and entered into to be effective as of
      January 1, 2020 (the &#8220;<font style="font-weight: bold;">Effective Date</font>&#8221;), by and among <font style="font-variant: small-caps;">Horizon Bank</font> (the &#8220;<font style="font-weight: bold;">Bank</font>&#8221;), an Indiana state&#8209;chartered bank, <font style="font-variant: small-caps;">Horizon Bancorp, Inc.</font> (the &#8220;<font style="font-weight: bold;">Holding Company</font>&#8221;), an Indiana corporation and a registered bank
      holding company, and <font style="font-variant: small-caps;">James D. Neff </font>(the &#8220;<font style="font-weight: bold;">Executive</font>&#8221;),
      a resident of the State of Indiana. The Bank and the Holding Company are referred to herein jointly as the &#8220;<font style="font-weight: bold;">Company.</font>&#8221; This Agreement updates,
      amends, restates, supersedes and replaces in its entirety the Employment Agreement, dated January 1, 2018, by and among the parties.</div>
    <div style="text-align: center; line-height: 13.7pt; font-size: 12pt; font-weight: bold;"><a name="z_ljs_searchstart"></a>W I T N E S S E T H:</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">WHEREAS, Bank is a wholly-owned subsidiary of the Holding Company; and</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">WHEREAS, the Executive is currently employed by the Company and is currently
      serving as the President of the Bank and the Holding Company; and</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">WHEREAS, the Company desires to continue the employment of the Executive,
      and the Executive desires to continue to be employed by the Company, in accordance with the provisions of this Agreement; and</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">WHEREAS, in addition to the employment provisions contained herein, the
      Company and the Executive have agreed to certain restrictions, covenants, agreements and severance payments, as set forth in this Agreement; and</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">WHEREAS, the Executive is willing to commit to continue in the performance
      of such services for the Company upon the terms and conditions set forth herein;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">NOW, THEREFORE<font style="font-variant: small-caps;">,</font> in consideration of the foregoing premises, the mutual covenants, agreements and obligations contained herein, the continued employment of the Executive by the Company pursuant to this Agreement and
      for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Executive, each intending to be legally bound, hereby agree as follows:</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 3pt;"><font style="font-size: 12pt; color: #000000;">Section 1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;"><u>Employment; Term.</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Employment</u>.&#160; Unless terminated earlier as provided herein, the Company hereby agrees
        to employ the Executive, and the Executive hereby agrees to be employed by the Company, on a full-time basis in accordance with the provisions of this Agreement.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Term</u>.&#160; Unless terminated earlier as provided herein, the initial term of the
        Executive&#8217;s employment with the Company hereunder will begin on the Effective Date of this Agreement and will end on the date which is three years following the date hereof; <font style="font-style: italic;">provided, however</font>, that on each annual anniversary of the date of this Agreement until</font></div>
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    <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">January, 2025, the Executive&#8217;s term of employment will be extended for an
      additional one-year period beyond the then-effective expiration date, upon the same agreements, covenants and provisions set forth herein, unless at least 60 days prior to the expiration of any one-year period during the term thereof, the Company
      delivers to the Executive written notice that the term of this Agreement will not be so extended for a one-year period (the initial term of this Agreement and all extensions thereof, if any, are hereinafter referred to individually and collectively
      as the &#8220;<font style="font-weight: bold;">Term</font>&#8221;).&#160; Should Executive remain employed as of January 1, 2025, his employment relationship will transition to an at-will relationship
      meaning either Executive or the Company may terminate the relationship for any reason, or no reason, and without notice.&#160; The parties agree and acknowledge that should such a transition occur on January 1, 2025, all of the obligations and
      responsibilities of this Agreement will continue with the exception of Sections 4 (a) through (f), and 5 (a) through (b) as those sections will be terminated as of January 1, 2025.</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 3pt;"><font style="font-size: 12pt; color: #000000;">Section 2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;"><u>Position; Duties; Responsibilities.</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Position</u>.&#160; During the Term, the Executive will be the President of the Bank and the
        Holding Company and will perform such duties and responsibilities as may be assigned by the CEO and/or the Board of Directors of the Bank or the Holding Company.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Duties and Responsibilities</u>.&#160; During the Term, the Executive will devote substantially
        all business time, attention and energy, and reasonable best efforts, to the interests and business of the Bank, the Holding Company and their affiliates and subsidiaries (collectively &#8220;<font style="font-weight: bold;">Affiliates</font>&#8221;) and to the performance of the Executive&#8217;s duties and responsibilities on behalf of the Company and any Affiliate.&#160; The Executive may use his discretion in fixing the hours and schedule of work
        consistent with the proper discharge of the Executive&#8217;s duties.&#160; The Executive, subject to the direction and control of CEO and/or the Board of Directors of the Bank and Holding Company, will have all power and authority commensurate with the
        Executive&#8217;s status and necessary to perform his duties hereunder.&#160; During the Term the Executive will not serve on the board of directors of any for-profit organization without the prior consent of the Holding Company&#8217;s board of directors (the &#8220;<font style="font-weight: bold;">Board</font>&#8221;).</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Working Conditions</u>.&#160; So long as the Executive is employed by the Company pursuant to
        this Agreement, the Executive will be entitled to office space and working conditions consistent with his position as President of the Bank and the Holding Company.&#160; The Company will provide the Executive with such assistance and working
        accommodations as are suitable to the character of his positions with the Company and as are adequate for the performance of the Executive&#8217;s duties.&#160; The Executive will not be required to be absent from the location of the principal executive
        offices of the Company on travel status or otherwise more than 30 days in any calendar year.&#160; The Company will not, without the written consent of the Executive, relocate or transfer Executive to a location more than 30 miles from his principal
        residence.</font></div>
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    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 3pt;"><font style="font-size: 12pt; color: #000000;">Section 3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;"><u>Compensation and Employee Benefits.</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Base Salary</u>.&#160; During the Term, for all services rendered to or on behalf of the
        Company by the Executive in all capacities pursuant to this Agreement or otherwise, the Company will pay to the Executive an annual base salary equal to the amount being paid to the Executive as of the date of this Agreement&#160; (the &#8220;<font style="font-weight: bold;">Base Salary</font>&#8221;), which Base Salary will be adjusted in accordance with this Section.&#160; At approximately annual intervals, after the end of each fiscal
        year of the Bank during the Term, the Compensation Committee of the Board (the &#8220;<font style="font-weight: bold;">Committee</font>&#8221;) will review, or will cause to be reviewed, the Base
        Salary payable to the Executive, giving attention to all factors that the Committee deems pertinent, including, without limitation, the performance of the Bank, the Holding Company and any Affiliate, the performance of the Executive and the
        compensation practices inside and outside of the Company.&#160; The Committee will, after such annual review, determine the Base Salary to be paid until the completion of the next annual review, but such new Base Salary will not be less than the Base
        Salary as of the Effective Date hereof.&#160; The Base Salary will be paid to the Executive in accordance with the Bank&#8217;s usual and customary payroll practices applicable to its employees generally.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Incentive Compensation</u>.&#160; During the Term, the Executive will be entitled to
        participate in all incentive compensation plans and programs in effect from time to time and generally available to executive officers of the Company, subject to the terms and conditions of such plans and programs.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Employee Benefit Plans</u>.&#160; During the Term, the Executive will be entitled to
        participate in all employee benefit plans and programs in effect from time to time and generally available to executive officers of the Company, subject to the terms and conditions of such plans and programs.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Other Policies</u>.&#160; All other matters relating to the employment of the Executive by the
        Company not specifically addressed in this Agreement, or in the plans and programs referenced above (including, without limitation, 5-weeks of vacation, sick and other paid time off), will be subject to the employee handbooks, rules, policies and
        procedures of the Company in effect from time to time.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Taxes and Other Amounts</u>.&#160; All taxes (other than the Company&#8217;s portion of FICA taxes)
        on the Base Salary and other amounts payable to the Executive pursuant to this Agreement or any plan or program will be paid by the Executive.&#160; The Company will be entitled to withhold from the Base Salary and all other amounts payable to the
        Executive pursuant to this Agreement or any plan or program (i) applicable withholding taxes, and (ii) such other amounts as may be authorized by the Executive in writing.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Acknowledgment by the Executive</u>.&#160; Notwithstanding anything herein to the contrary, the
        Executive hereby understands, acknowledges and agrees that the Bank or Holding Company may, each in its sole discretion, amend, modify, freeze, suspend or terminate any or all of the incentive compensation, stock option, employee benefit and other
        plans and programs referenced herein at any time and from time to time in the future as provided in such plans and programs. Any such amendment, modification, freezing,</font></div>
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    <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">suspension or termination will not affect any of the Executive&#8217;s vested or
      accrued benefits under any such plans or programs.</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 3pt;"><font style="font-size: 12pt; color: #000000;">Section 4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;"><u>Termination of Employment.</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">Subject to the respective continuing obligations of the parties hereto set
      forth in this Agreement, the Executive&#8217;s employment with the Company may be terminated during the Term in any of the following ways:</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination by the Company for Cause</u>.&#160; The Company, upon written notice to the
        Executive, may terminate the Executive&#8217;s employment with the Company immediately (except as otherwise expressly provided herein with respect to the Executive&#8217;s limited right to cure) for Cause.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Cause</font>&#8221; is defined as any of the following actions:</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">An intentional act of fraud, embezzlement, theft, or personal dishonesty; willful misconduct, or breach of fiduciary duty involving personal profit by the Executive in the course of the
        Executive&#8217;s employment; provided, however, that (A) no act or failure to act will be deemed to have been intentional or willful if it was due primarily to an error in judgment or negligence; and (B) an act or failure to act will only be considered
        intentional or willful if it is not in good faith and if it is without a reasonable belief that the action or failure to act is in the best interest of the Company or any Affiliate;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M57"></a><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Intentional damage by the Executive to the business or property of the Company or any Affiliate, causing material harm to the Company or any Affiliate;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M58"></a><font style="font-size: 12pt; color: #000000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Material breach by the Executive of any provision of this Agreement or any change in control or similar agreement the Executive is a party to;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M59"></a><font style="font-size: 12pt; color: #000000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Gross negligence or insubordination by the Executive in the performance of the Executive&#8217;s duties, or the Executive&#8217;s refusal or repeated failure to carry out lawful directives
        of the Board of Directors of Bank or Holding Company or of the Chief Executive Officer;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M60"></a><font style="font-size: 12pt; color: #000000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Removal or permanent prohibition of the Executive from participating in the conduct of the affairs of Bank or Holding Company or any Affiliate by an order issued under
        subsection 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act, 12 USC &#167;&#167; 1818(e)(4) and (g)(1).</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination by the Company Without Cause</u>.&#160; The Company, upon not less than 30 days&#8217;
        prior written notice to the Executive, may terminate the Executive&#8217;s employment with the Company without Cause.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination by the Executive for Good Reason</u>.&#160; The Executive, upon written notice to
        the Company, may terminate his employment with the Company immediately (except as otherwise expressly provided herein with respect to the Company&#8217;s</font></div>
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    <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">limited right to cure) for Good Reason.&#160; For purposes of this Agreement, &#8220;<font style="font-weight: bold;">Good Reason</font>&#8221; is defined as the occurrence of any of the following events:</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The requirement that the Executive move the Executive&#8217;s office to a location more than thirty (30) miles from the Executive&#8217;s principal residence as of the date of this Agreement;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M73"></a><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">A reduction of ten percent (10%) or more in the Executive&#8217;s then-current annual base salary, unless part of an institution-wide reduction and proportionate to the reduction in
        the annual base salary of all other executive officers of the Company;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M74"></a><font style="font-size: 12pt; color: #000000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The removal of the Executive from participation in any incentive compensation or performance-based compensation plans which results in a reduction of ten percent (10%) or more
        in the Executive&#8217;s total compensation, unless the Company terminates participation in the plan or plans with respect to all other executive officers of the Company;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M75"></a><font style="font-size: 12pt; color: #000000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The taking of any action by Bank or Holding Company which would directly or indirectly reduce any material benefit plan or program or deprive the Executive of any such benefit
        enjoyed by the Executive, resulting in a reduction of ten percent (10%) or more in the Executive&#8217;s total compensation, unless part of an institution-wide reduction and applied similarly to all other executive officers of the Company;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M76"></a><font style="font-size: 12pt; color: #000000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The assignment to the Executive of duties and responsibilities materially different from those normally associated with the Executive&#8217;s position;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M77"></a><a name="z_DV_M78"></a><font style="font-size: 12pt; color: #000000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">A material diminution or reduction in the Executive&#8217;s duties, responsibilities or authority (including reporting responsibilities) normally associated with the Executive&#8217;s
        position;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><a name="z_DV_M79"></a><font style="font-size: 12pt; color: #000000;">(vii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Any action by the Company to remove the Executive from the Executive&#8217;s then-current officer position or materially change the Executive&#8217;s title, except for promotions and except
        for removal from office for Cause;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(viii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">A material breach by the Company of any provision of this Agreement, other than a breach justifying termination pursuant to any other provision of this Agreement; or</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ix)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">To the extent such assumption does not occur as a matter of law, any failure of Bank or Holding Company to obtain the assumption of the obligation to perform this Agreement by any successor,
        including upon a change in control.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination by the Executive Without Good Reason</u>.&#160; The Executive, upon not less than
        60 days prior written notice to the Bank, may terminate his employment with the Company without Good Reason.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination in the Event of Death or Disability</u>.&#160; The Executive&#8217;s employment hereunder
        will terminate immediately upon the death of the Executive.&#160; The Executive&#8217;s employment with the Company may be terminated by the Company in the</font></div>
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    <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">event of the occurrence of a Disability of the Executive.&#160; For purposes
      hereof, a &#8220;<font style="font-weight: bold;">Disability</font>&#8221; is defined as the Executive&#8217;s inability to engage in any substantial gainful activity by reason of any medically
      determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months.&#160; If, by reason of any medically determinable physical or mental impairment that can be
      expected to result in death or last for a continuous period of not less than 12 months, the Executive is receiving income replacement benefits for a period of not less than three months under an accident and health plan sponsored by the Company, the
      Executive will be deemed to be Disabled.&#160; The Compensation Committee of the Board will be the sole and final judge of whether the Executive is Disabled for purposes of this Agreement, after consideration of any evidence it may require, including the
      reports of any physician or physicians it may designate.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Notice and Date of Termination</u>.&#160; Any termination of the Executive&#8217;s employment with
        the Company as contemplated by this Section 4, except in the event of the Executive&#8217;s death, will be communicated in writing by the terminating party to the other party hereto.&#160; Any notice of termination will indicate the specific provisions of
        this Agreement relied upon and, if applicable, will set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination.&#160; The last day of the Executive&#8217;s employment with the Company will be referred to herein
        as the &#8220;<font style="font-weight: bold;">Date of Termination</font>.&#8221;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Limited Right to Cure by the Company and the Executive</u>.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">In the event that the Company desires to terminate the Executive&#8217;s employment for Cause pursuant to subsection 4(a)(iii), the Company, upon written notice to the Executive, may terminate the
        Executive&#8217;s employment for Cause, which will terminate the Executive&#8217;s employment and right to compensation immediately, except in the limited case expressly provided herein with respect to Causes that are curable. The written notice will (A)
        indicate the specific provisions of this Agreement relied upon for such termination; (B) set forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination; (C) state whether the Board of Directors of the
        Holding Company has determined in good faith that the issue is curable; and (D) if the issue has been deemed curable, describe the steps, actions, events or other items that must be taken, completed or followed by the Executive to correct or cure
        the basis for such termination. If (but only if) the basis for termination has been deemed curable by the Board of Directors, then the Executive will have thirty (30) days following the effective date of such notice to fully correct and cure the
        basis for the termination of the Executive&#8217;s employment. If the Executive does not fully correct and cure the basis for the termination of the Executive&#8217;s employment within such 30-day period, then the Company will have the right to terminate the
        Executive&#8217;s employment immediately for Cause upon delivering to the Executive a second written notice of termination and without any further cure period. Unless otherwise specified in the written notice, the date of termination shall be the date of
        the first written notice, in the case of an uncurable Cause, and shall be the date of the second written notice, in the case of a curable but uncured Cause. Notwithstanding the foregoing, the</font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
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    <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
    </div>
    <div style="text-align: justify; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">Executive will be entitled to so correct and cure only a maximum of two times during any
      calendar year.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">In the event that the Executive desires to terminate the Executive&#8217;s employment with the Company for Good Reason pursuant to subsection 4(c), all of the following must timely occur: (A) within
        ninety (90) days immediately following the first occurrence of such event, the Executive must deliver to the Company a written notice describing, in reasonable detail, the Good Reason event and the proposed cure to such event; (B) the Company must
        fail to cure such event during the thirty (30) days from the date of receipt of such notice; and (C) a second written notice of termination must be delivered by the Executive to the Company within ninety (90) days following the day on which the
        30-day cure period set forth in the preceding clause (B) expires. The Executive&#8217;s employment with the Company will terminate immediately upon delivery of the second written notice of termination. Notwithstanding the foregoing, the Company will be
        entitled to so correct and cure only a maximum of two times during any calendar year.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(h)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Regulatory Restrictions</u>.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">If Executive is removed and/or permanently prohibited from participating in the conduct of the Bank&#8217;s affairs by an order issued under Sections 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance
        Act (&#8220;<font style="font-weight: bold;">FDIA</font>&#8221;) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Company under this Agreement shall terminate as of the effective date of
        the order, but vested rights of the parties shall not be affected.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">If the Bank is in default (as defined in Section 3(x)(1) of FDIA), all obligations of the Company under this Agreement shall terminate as of the date of default; however, this subsection shall
        not affect the vested rights of the parties.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">All obligations under this Agreement shall terminate, except to the extent determined that continuation of this Agreement is necessary for the continued operation of the Bank: (A) by the Indiana
        Department of Financial Institutions (the &#8220;<font style="font-weight: bold;">DFI</font>&#8221;) or its designee, or the Bank&#8217;s primary federal regulator at the time that the Federal Deposit
        Insurance Corporation (&#8220;<font style="font-weight: bold;">FDIC</font>&#8221;) enters into an agreement to provide assistance to or on behalf of the Bank under the authority contained in
        Section 13(c) of FDIA; or (B) by the DFI, or its designee, or the Bank&#8217;s primary federal regulator, at the time that the DFI, or its designee, or the Bank&#8217;s primary federal regulator, approves a supervisory merger to resolve problems related to the
        operation of the Bank or when the Bank is determined by the DFI, or the Bank&#8217;s primary federal regulator, to be in an unsafe or unsound condition. Any such action shall not affect any vested rights of the parties.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">If a notice served under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C. 1818(e)(3) or (g)(1)) suspends and/or temporarily prohibits Executive from participating in the conduct of the Bank&#8217;s
        affairs, the Company&#8217;s obligations under this Agreement shall be suspended as of the effective date of such notice, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Company may, in its sole discretion, (A)
        pay Executive all or part of the</font></div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
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    <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
    </div>
    <div style="text-align: justify; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt; font-size: 12pt;">compensation withheld while its contract obligations were suspended, and/or (B) reinstate (in
      whole or in part) any of its obligations which were suspended.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">Notwithstanding anything to the contrary contained herein, Executive acknowledges and agrees that any payments made to Executive pursuant to this Agreement, or otherwise, are subject to and
        conditioned upon compliance with the provisions of 12 U.S.C. 1828(k) and Part 359 of the FDIC&#8217;s regulations (12 C.F.R. Part 359), which provisions contain certain prohibitions and limitations on making &#8220;golden parachute&#8221; and certain indemnification
        payments by FDIC-insured institutions and their holding companies. In the event any payments to Executive pursuant to this Agreement are prohibited or limited by the provisions of such statute and/or regulations, Bank and/or Holding Company (A)
        shall pay the maximum amount that may be paid after applying such limitations; and (B) will use commercially reasonable efforts to obtain the consent of the appropriate regulatory authorities to the payment of any amount that otherwise cannot be
        paid due to the application of such limitations. Executive agrees that Bank and/or Holding Company shall not have breached any obligations under this Agreement if they are unable to pay all or some portion of any payment due to Executive as a
        result of the application of these limitations.</font></div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 3pt;"><font style="font-size: 12pt; color: #000000;">Section 5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;"><u>Payment Upon Termination of Employment.</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">Upon the termination of the Executive&#8217;s employment with the Company pursuant
      to Section 4, the Executive will receive the following:</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination by the Company for Cause, by the Executive Without Good Reason or Due to Death or
            Disability of the Executive</u>.&#160; Upon the termination of the Executive&#8217;s employment by the Company for Cause pursuant to subsection 4(a), by the Executive without Good Reason pursuant to subsection 4(d) or in the event of termination
        due to the death or Disability of the Executive pursuant to subsection 4(e), the Company will pay or provide to the Executive the following amounts and benefits:</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">that portion of the Executive&#8217;s Base Salary earned through the Date of Termination, payable in accordance with normal payroll practices;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">all amounts that have vested or accrued prior to the Date of Termination under all incentive compensation or employee benefit plans of the Bank or Holding Company in accordance with the
        provisions of such plans; and</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">notwithstanding the foregoing, all options granted to the Executive to purchase shares of common stock of the Holding Company and all shares of restricted stock of the Holding Company (whether
        such options and restricted shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and the Executive.</font></div>
    <div style="text-align: justify; margin-left: 49.5pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">It is noted that nothing in this Agreement will serve to prevent the
      Executive from receiving long term disability payments from the Company&#8217;s long term disability program, if any, if the Executive is otherwise eligible to receive benefits under such a program.</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">8</font></div>
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      <div id="DSPFPageHeader"></div>
    </div>
    <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Termination by the Company Without Cause or by the Executive With Good Reason</u>.&#160; Upon
        the termination of the Executive&#8217;s employment by the Company without Cause pursuant to subsection 4(b), or by the Executive with Good Reason pursuant to subsection 4(c), the Company will pay or provide to the Executive the following amounts and
        benefits:</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">that portion of the Executive&#8217;s Base Salary earned through the Date of Termination, payable in accordance with normal payroll practices;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">an amount equal to the Executive&#8217;s annual Base Salary in effect as of the date immediately preceding the Date of Termination plus a single sum payment equal to the average of the Executive&#8217;s cash
        bonuses paid or payable for the last two calendar years preceding the Date of Termination, all payable as of the date of the first payroll following the Date of Termination and delivery of the Release (as defined in Section 5(d)) and the lapse of
        all applicable revocation periods, or as soon as administratively practicable thereafter;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">continued participation in the group health insurance and group life insurance benefits which the Executive would have been eligible to participate in or receive on the day prior to the Date of
        Termination (&#8220;<font style="font-weight: bold;">Insurance Programs</font>&#8221;) beginning on the Date of Termination and continuing for a period of one year (&#8220;<font style="font-weight: bold;">Benefit Continuation Term</font>&#8221;), but only to the extent the Executive continues to qualify for participation therein.&#160; If the Executive is not permitted to continue
        participation in those Insurance Programs, the Company will reimburse the Executive for the costs of health insurance and life insurance benefits for the Benefit Continuation Term; <font style="font-style: italic;">provided, however</font>, the amount of these benefits will be limited to an amount equal to 110% of the Company&#8217;s then current cost of providing comparable benefits under the Insurance Programs;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(iv)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">all amounts that have vested or accrued prior to or on the Date of Termination (or otherwise are or become payable to the Executive) under all incentive compensation or other qualified and
        non-qualified employee benefit plans of the Holding Company or Bank in accordance with the provisions of such plans and past practices of Holding Company or Bank, including without limitation, any Bank contributions or matches related to those
        amounts. For purposes of clarification, the intent of this Section is for the Executive to receive all amounts attributable to the Executive&#8217;s participation in such plans, as now or hereafter existing, up to and including the Date of Termination,
        regardless of whether the amounts are historically deposited or credited to individual employee accounts or subject to Board of Director approval on a date beyond the Date of Termination, and Bank agrees to compute and pay, deposit or credit all
        such amounts as soon as possible after the Date of Termination if not capable of being calculated, paid, deposited or credited prior to the Date of Termination; and</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(v)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">cash reimbursement for reasonable expenses (as determined by the Board in its sole discretion) actually incurred by the Executive in searching for new employment during the one-year period
        following the Date of Termination and limited to no greater than $20,000.&#160; Each reimbursement will be paid to the Executive within 30 days following the receipt by the Company of a valid claim</font></div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
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    <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
    </div>
    <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 6pt; font-family: 'Times New Roman',Times,serif; font-size: 12pt; margin-left: 72pt;">substantiating the expense and no reimbursement will be made after one year following
      the year in which the expense is incurred; and</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(vi)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">notwithstanding the foregoing, all options granted to the Executive to purchase shares of common stock of the Holding Company and all shares of restricted stock of the Holding Company (whether
        such options and restricted shares are vested or unvested) shall be treated in accordance with the applicable plan and award agreement(s) between the Holding Company and the Executive.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Delay of Payment of Benefits in Certain Circumstances.</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Separation from Service</u>.&#160; &#8220;<font style="font-weight: bold;">Separation from Service</font>&#8221; means the date on which the Executive dies, retires or otherwise experiences a Termination of Employment with the Company; <font style="font-style: italic;">provided, however</font>, a Separation from Service does not occur if the Executive is on military leave, sick leave or other bona fide leave of absence (such as temporary employment by the government) if the period of
        such leave does not exceed six months, or if the leave is for a longer period, so long as the individual&#8217;s right to reemployment with the Company is provided either by statute or by contract.&#160; If the period of leave exceeds six months and the
        Executive&#8217;s right to reemployment is not provided either by statute or contract, there will be a Separation from Service on the first date immediately following such six-month period.&#160; The Executive will incur a &#8220;<font style="font-weight: bold;">Termination of Employment</font>&#8221; when a termination of employment is incurred under Treasury Regulation Section 1.409A-1(h)(ii).</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Suspension of Payments to Specified Employees</u>. To the extent such suspension is required by Section 409A
        of the Internal Revenue Code of 1986, as amended (&#8220;<font style="font-weight: bold;">Code</font>&#8221;) or Treasury Regulations issued pursuant to Code Section 409A, if an amount is payable
        to the Executive due to the Executive&#8217;s Separation from Service for a reason other than the Executive&#8217;s death, and if at the time of the Separation from Service the Executive is a &#8220;Specified Employee,&#8221; payment of all amounts which constitute
        deferred compensation under Code Section 409A to the Executive under the Agreement will be suspended for six months following such Separation from Service.&#160; The Executive will receive payment of such amounts on the first day following the six-month
        suspension period.</font></div>
    <div style="text-align: justify; margin-left: 144pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(A)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">A &#8220;Specified Employee&#8221; means an individual who is a &#8220;Key Employee&#8221; of the Company at a time when the Holding Company&#8217;s stock is publicly traded on an established securities market.&#160; The Executive will
        be a Specified Employee on the first day of the fourth month following any &#8220;Identification Date&#8221; on which the Executive is a Key Employee.</font></div>
    <div style="text-align: justify; margin-left: 144pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(B)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The Executive is a &#8220;Key Employee&#8221; if at any time during the 12-month period ending on an Identification Date the Executive is: (i) an officer of the Company having annual compensation greater than
        $175,000 (as adjusted in accordance with the requirements of Code Section 409A); (ii) a five-percent owner of the Company; or</font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
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    </div>
    <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
    </div>
    <div style="text-align: justify; margin-left: 144pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">(iii) a one-percent owner of the Company having an annual compensation
      greater than $150,000.&#160; For purposes of determining whether an Executive is an officer under clause (i), no more than 50 employees (or, if lesser, the greater of three or ten percent of the employees) will be treated as officers, and those categories
      of employees listed in Code Section 414(q)(5) will be excluded.</div>
    <div style="text-align: justify; margin-left: 144pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt;">(C)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">The &#8220;Identification Date&#8221; for purposes of this Agreement is December 31 of each calendar year.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Certain Limitations</u>.&#160; All amounts payable to the Executive pursuant to this Section 5
        will be subject to the following limitations:</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">amounts payable pursuant to this Section will be subject to the terms of subsections 5(c) and 5(e) and paid only so long as the Executive is not in breach of any of the provisions of this
        Agreement; and</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt; line-height: 13.7pt; margin-bottom: 6pt;"><font style="font-size: 12pt; color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;">payment will be made pursuant to this Section only if the Executive executes a full release of claims relating to the Executive&#8217;s employment by the Company and/or any Affiliate in favor of such
        parties in a form reasonably acceptable to, and provided by, the Company (the &#8220;<font style="font-weight: bold;">Release</font>&#8221;). The Company will set a deadline for return of the
        Release that will be no later than sixty (60) days following the termination of employment, and the Release must remain unrevoked during any revocation period.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>280G Cutback</u>. Anything in this Agreement to the contrary notwithstanding, in the event
        the Company&#8217;s independent public accountants determine that any payment by the Company to or for the benefit of the Executive, whether paid or payable pursuant to the terms of this Agreement or otherwise, would be non-deductible by the Company for
        federal income tax purposes because of Section 280G of the Internal Revenue Code of 1986, as amended, the amount payable to or for the benefit of the Executive pursuant to this Agreement and all other arrangements shall be reduced (but not below
        zero) in a manner determined by the Company to the Reduced Amount. For purposes of this Section, the &#8220;<font style="font-weight: bold;">Reduced Amount</font>&#8221; shall be the amount which
        maximizes the amount payable without causing the payment to be non-deductible by the Company because of Section 280G. If two economically equivalent amounts are subject to reduction but are payable at different times, the amounts shall be reduced
        (but not below zero) on a pro rata basis.</font></div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 3pt;"><font style="font-size: 12pt; color: #000000;">Section 6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;"><u>Survival of Certain Provisions.</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">Upon any termination of the Executive&#8217;s employment with the Company, the
      Executive and the Company hereby expressly agree that the provisions of Sections 5, 6, 7 and 8 will continue to be in full force and effect and binding upon the Executive and the Company in accordance with the applicable respective provisions of such
      Sections and Section 1(b).</div>
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    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 3pt;"><font style="font-size: 12pt; color: #000000;">Section 7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;"><u>Indemnification.</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">The Company will indemnify the Executive (and his legal representatives or
      other successors) to the fullest extent permitted (including payment of expenses in advance of final disposition of the proceeding) by the Articles of Incorporation and By-Laws of the Company as in effect at such time.&#160; The Executive will be entitled
      to the protection of any insurance policies the Company may elect to maintain generally for the benefit of its directors and officers, against all costs, charges and expenses whatsoever incurred or sustained by him or his legal representatives in
      connection with any action, suit or proceeding to which he (or his legal representatives or other successors) may be made a party by reason of his being or having been a director, officer or employee of the Company or any of its subsidiaries.&#160; If any
      action, suit or proceeding is brought or threatened against the Executive in respect of which indemnity may be sought against the Company pursuant to the foregoing, the Executive will notify the Company promptly in writing of the institution of such
      action, suit or proceeding, and the Company will assume the defense thereof and the employment of counsel and payment of all fees and expenses.</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 3pt;"><font style="font-size: 12pt; color: #000000;">Section 8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt; font-weight: bold;"><u>Miscellaneous.</u></font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Assignment</u>.&#160; This Agreement is personal in nature and no party hereto will, without
        the prior written consent of the other party hereto, assign or transfer this Agreement or any rights or obligations hereunder, except as provided pursuant to subsection 8(p) or as otherwise provided herein.&#160; Without limiting the foregoing, the
        Executive&#8217;s right to receive compensation hereunder will not be assignable or transferable by the Executive, whether by pledge, creation of a security interest or otherwise, other than a transfer by the Executive&#8217;s will or by the laws of descent,
        and in the event of any attempted assignment or transfer contrary to this Section, the Company will have no liability to pay any amounts so attempted to be assigned or transferred.&#160; Notwithstanding the foregoing or anything herein to the contrary,
        this Agreement may be assigned by the Company to any Affiliate without the prior consent of the Executive.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Waiver</u>.&#160; Either party hereto may, by a writing signed by the waiving party, waive the
        performance by the other party of any of the covenants or agreements to be performed by such other party under this Agreement.&#160; The waiver by either party hereto of a breach of or noncompliance with any provision of this Agreement will not operate
        or be construed as a continuing waiver or a waiver of any other or subsequent breach or noncompliance hereunder.&#160; The failure or delay of either party at any time to insist upon the strict performance of any provision of this Agreement or to
        enforce its rights or remedies under this Agreement will not be construed as a waiver or relinquishment of the right to insist upon strict performance of such provision, or to pursue any of its rights or remedies for any breach hereof, at a future
        time.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Amendment</u>.&#160; This Agreement may be amended, modified or supplemented only by a written
        agreement executed by all of the parties hereto.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Headings</u>.&#160; The headings in this Agreement have been inserted solely for ease of
        reference and will not be considered in the interpretation or construction of this Agreement.</font></div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">12</font></div>
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    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Severability</u>.&#160; In case any one or more of the provisions (or any portion thereof)
        contained herein will, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect any other provision of this Agreement, but this Agreement will be construed as if
        such invalid, illegal or unenforceable provision or provisions (or portion thereof) had never been contained herein.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Counterparts</u>.&#160; This Agreement may be executed in any number of counterparts, each of
        which will be an original, but such counterparts will together constitute one and the same agreement.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Construction</u>.&#160; This Agreement will be deemed to have been drafted by both parties
        hereto.&#160; This Agreement will be construed in accordance with the fair meaning of its provisions and its language will not be strictly construed against, nor will ambiguities be resolved against, any party.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(h)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Review and Consultation</u>.&#160; The Executive hereby acknowledges and agrees that he (i) has
        read this Agreement in its entirety prior to executing it, (ii) understands the provisions, effects and restrictions of this Agreement, (iii) has consulted with such of his own attorneys, accountants and financial and other advisors as he has
        deemed appropriate in connection with his execution of this Agreement, and (iv) has executed this Agreement voluntarily.&#160; <font style="font-weight: bold;">THE EXECUTIVE HEREBY
          UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT HE HAS NOT RECEIVED ANY ADVICE, COUNSEL OR RECOMMENDATION WITH RESPECT TO THIS AGREEMENT FROM ANY DIRECTOR OR EMPLOYEE OF, OR ANY ATTORNEY, ACCOUNTANT OR ADVISOR FOR, THE BANK OR THE HOLDING COMPANY.</font></font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Attorneys&#8217; Fees</u>.&#160; Each party hereto will pay the other party&#8217;s reasonable costs and
        expenses (including, without limitation, reasonable attorneys&#8217; fees and disbursements) in connection with such other party successfully enforcing any provision or provisions of this Agreement (except as otherwise provided herein) against the
        breaching party (whether by litigation, arbitration, mediation, settlement or negotiation).</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(j)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Entire Agreement</u>.&#160; This Agreement supersedes and novates all other prior
        understandings, commitments, representations, negotiations, contracts and agreements, whether oral or written, between the parties hereto relating to the matters contemplated hereby and constitutes the entire understanding and agreement between the
        parties hereto relating to the subject matter hereof.&#160; In particular, as referred to in the Preamble, this Agreement supersedes, novates, cancels and replaces the agreement between the Company and the Executive dated January 1, 2018, and all
        amendments and addendums thereto.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(k)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Certain References</u>.&#160; Whenever in this Agreement a singular word is used, it also will
        include the plural wherever required by the context and vice-versa.&#160; All references to the masculine, feminine or neuter genders herein will include any other gender, as the context requires.&#160; Unless expressly provided otherwise, all references in
        this Agreement to days will mean calendar, not business, days.</font></div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">13</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
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    </div>
    <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
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    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(l)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Governing Law</u>.&#160; This Agreement will be governed by and construed in accordance with
        the laws of the State of Indiana applicable to contracts made and to be performed therein.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(m)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Notices</u>.&#160; All notices, requests and other communications hereunder will be in writing
        (which will include facsimile communication) and will be deemed to have been duly given if (i) delivered by hand; (ii) sent by certified United States Mail, return receipt requested, first class postage pre-paid; (iii) sent by overnight delivery
        service; or (iv) sent by facsimile transmission if such fax is confirmed immediately thereafter by also mailing a copy of such notice, request or other communication by regular United States Mail, first class postage pre-paid, as follows:</font></div>
    <table cellspacing="0" cellpadding="0" border="0" id="za5efa27f7b7340c8beb3f3013c846cc5" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">If to the Company:</div>
          </td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Horizon Bancorp, Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Attention: Chairman of the Board of Directors</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">515 Franklin Street</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Michigan City, IN 46360</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Telephone: (219) 879-0211</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Facsimile: (219) 873-2628</div>
            <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">and</div>
            <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          </td>
          <td style="width: 72%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Craig Dwight</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Chairman and Chief Executive Officer</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Horizon Bank</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">515 Franklin Street</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Michigan City, IN 46360</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Phone: 219-873-2725</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt;">Fax: 219-874-9280</div>
            <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">If to the Executive:</div>
          </td>
          <td style="width: 72%; vertical-align: top;">
            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">James D. Neff</div>
          </td>
        </tr>
        <tr>
          <td style="width: 8%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 72%; vertical-align: top;">
            <div style="line-height: 13.7pt; font-size: 12pt; font-style: italic; font-weight: bold;">Redacted for privacy</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 13.7pt; margin-bottom: 12pt;"><br style="line-height: 13.7pt;">
    </div>
    <div style="text-align: justify; margin-left: 49.5pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">or to such other address or facsimile number as any party hereto may have
      furnished to the other parties in writing in accordance herewith, except that notices of change of address or facsimile number will be effective only upon receipt.</div>
    <div style="text-align: justify; margin-left: 49.5pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">All such notices, requests and other communications will be effective (i)
      if delivered by hand, when delivered; (ii) if sent by mail in the manner provided herein, two business days after deposit with the United States Postal Service; (iii) if sent by overnight express delivery service, on the next business day after
      deposit with such service; or (iv) if sent by facsimile transmission, on the date indicated on the fax confirmation page of the sender if such fax also is confirmed by mail in the manner provided herein.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 12pt; color: #000000;">(n)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 12pt;"><u>Jurisdiction and Venue</u>.&#160; The parties hereto hereby agree that all demands, claims,
        actions, causes of action, suits, proceedings and litigation between or among the parties relating to this Agreement, will be filed, tried and litigated only in a federal or state court located in the State of Indiana.&#160; In connection with the
        foregoing, the parties hereto</font></div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">14</font></div>
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    <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
    </div>
    <div style="text-align: justify; margin-left: 36pt; line-height: 13.7pt; margin-top: 12pt; margin-bottom: 12pt; font-size: 12pt;">irrevocably consent to the jurisdiction and venue of such court and
      expressly waive any claims or defenses of lack of jurisdiction of or proper venue by such court.</div>
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    <div style="text-align: justify; text-indent: 36pt; line-height: 13.7pt; margin-bottom: 24pt; font-size: 12pt;">IN WITNESS WHEREOF, the parties hereto have made, entered into, executed and delivered this
      Agreement as of December 31, 2019, to be effective as of the Effective Date.</div>
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            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">/s/ Craig M. Dwight</div>
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            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">/s/ Susan D. Aaron</div>
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            <div style="line-height: 13.7pt; font-size: 12pt;">Craig M. Dwight, Chairman and Chief Executive Officer</div>
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            <div style="line-height: 0pt;"><font style="line-height: 0pt;">&#160;</font></div>
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          <td style="width: 10%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 42%; vertical-align: top;">&#160;</td>
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            <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">HORIZON BANCORP, INC.</div>
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            &#160;</td>
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            <div style="text-align: justify; line-height: 13.7pt; margin-bottom: 12pt; font-size: 12pt; font-weight: bold;">EXECUTIVE</div>
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            &#160;</td>
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            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">/s/ Craig M. Dwight</div>
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            <div style="text-align: justify; line-height: 13.7pt; font-size: 12pt;">Craig M. Dwight, Chairman and Chief Executive Officer</div>
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