**Exhibit      10.2**

**WHITE      RIVER CAPITAL, INC.**

**DIRECTORS      STOCK COMPENSATION PLAN**

|   | (a) | “Affiliate”                means a business entity that is a subsidiary of the                Company. |
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|   | (b) | “Board                of Directors” means the board of directors of the Company as it shall                exist from time to time. |
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|   | (c) | “Code”                means the Internal Revenue Code of 1986, as amended. |
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|   | (d) | “Common                Shares” means the Common Stock, without par value, of the                Company. |
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|   | (e) | “Company”                means White River Capital, Inc., an Indiana                corporation. |
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|   | (f) | “Determination                Date” for a Plan Year, commencing with the 2006 Plan Year means the third                business day following the first public release (by press release                or SEC                filing) by the Company of annual consolidated financial information                for                the Plan Year; provided that the Determination Date for a Plan Year                shall                not be later than March 15 of the immediately subsequent Plan                Year. |
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|   | (g) | “Director                Fees” means the total fees payable to a Director for service as a Director                as determined by the Board of Directors from time to time. |
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|   | (h) | “Fair                Market Value” shall mean, as of any date, the value of one share of Common                Stock determined as follows: |
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|   | (i) | “Director”                means any member of the Board of Directors of the Company. |
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|   | (j) | “Plan”                means this White River Capital, Inc. Directors Stock Compensation                Plan. |
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|   | (k) | “Plan                Committee” means the individual or group of individuals appointed by the                Board of Directors as the committee responsible for administration                of the                Plan, initially, the Chief Financial Officer of the                Corporation |
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|   | (l) | “Plan                Year” means the twelve month period commencing on January 1 and ending                on                December 31 of each year or such other dates as may be established                by the                Plan Committee from time to time. |
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|   | (a) | Director                Compensation with Common Shares.                Fifty percent (50%) of total Director Fees payable to each Director                eligible to participate in the Plan under Section 4 shall be paid                in the                form of Common Shares, subject to the terms and conditions of this                Plan. |
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|   | (b) | Determination                of Number of Common Shares.                The number of Common Shares to become issuable to an eligible Director                as                of a Determination Date shall be the largest number of whole shares                resulting from the division of (i) the dollar amount of the Director                Fees                to be paid in the form of Common Shares under paragraph 6(a), by                (ii) Fair                Market Value of one Common Share on the Determination Date. No fractional                shares shall be issued under the Plan and cash shall be paid in lieu                thereof based upon the Fair Market Value of one Common Share. |
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|   | (c) | Issuance                of Certificates and Delivery to Directors. |
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|   | (i) | As                soon as practicable after the Determination Date following each Plan                Year,                and no later than is necessary to avoid such payment being subject                to                Section 409A of the Code, the Company shall issue, in the name of                each                eligible Director entitled thereto with respect to Director Fees                payable                for that Plan Year, a share certificate with respect to the number                of                Common Shares determined in the manner provided in this                Plan. |
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|   | (ii) | If                requested by an eligible Director in writing prior to the payment                date,                share certificate(s) may be issued jointly to the Director and any                other                person or persons. |
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|   | (d) | Proration.                If an eligible Director serves as a Company Director for less than                a full                Plan Year, then Common Shares payable based on Director Fees that                would                have been earned had the Director been incumbent for the full Plan                Year                shall be prorated so that the number of Common Shares |
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|   | (e) | Special                Provision for 2005.                Notwithstanding any provision of this Section 6 to the contrary,                with                respect to the 2005 Plan Year, on the date this Plan is adopted by                the                board of directors, each eligible Director shall become entitled,                as                compensation under this Plan for director services during 2005, $7,880.43                divided by the Fair Market Value of one Common Share on the date                of such                adoption (representing the proration of $20,000 annual compensation                initially expected to be payable in shares, for the period of calendar                2005 following consummation of the Company’s share exchange transaction                with Union Acceptance Corporation). The Plan Committee shall determine                the                number of such shares so issuable and arrange for issuance of such                shares,                subject to compliance with Section 6(h), including filing of a                registration statement with respect to the shares issuable under                the Plan                with the Securities and Exchange                Commission. |
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|   | (f) | Recapitalization.                The aggregate number of Common Shares which may be issued hereunder,                and                the number of Common Shares subject to issuance, shall be proportionately                adjusted for any increase or decrease in the number of issued and                outstanding Common Shares resulting from a subdivision or consolidation                of                shares of the Company or any other capital adjustment of the Company,                the                payment of a share dividend, a share split or any other increase                or                decrease in the Common Shares effected without receipt of consideration                by                the Company. |
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|   | (g) | Nonassignability.                No right to receive shares pursuant to this Plan shall be assignable                or                transferable except by will or under the laws of descent and distribution. |
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|   | (h) | Issuance                of Shares and Compliance with Securities Laws.                The Company may postpone the issuance and/or delivery of certificates                representing Common Shares until (i) the admission of such shares                to                listing on any stock exchange on which shares of the Company of the                same                class are then listed or the admission of such shares for quotation                in any                automated inter-dealer quotation system in which such shares are                then                quoted and (ii) the completion of such registration or other qualification                of such shares under any state or Federal law, rule or regulation                or the                rules and regulations of any exchange upon which the Common Shares                are                traded as the Company shall determine to be necessary or advisable,                which                registration or other qualification the Company shall use its best                efforts                to complete. Any person acquiring Common Shares pursuant to the Plan                may                be required to make such representations and furnish such information                as                may, in the opinion of counsel for the Company, be appropriate to                permit                the Company, in light of the existence or non-existence with respect                to                such shares of an effective registration under the Securities Act                of 1933,                as amended, or any similar state statute, to issue the shares in                compliance |
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|   | (i) | Rights                as a Shareholder.                An eligible Director shall have no rights as a shareholder with respect                to                Common Shares issuable under the Plan until the date of issuance                of a                certificate representing those shares after the applicable Determination                Date. Upon the issuance of a certificate, the shares represented                thereby                shall be fully paid and nonassessable Common Shares of the Company,                the                Director shall have the power to vote those Common Shares on all                matters                presented to a vote of the shareholders of the Company and shall                be                entitled to receive all dividends and other distributions declared                or paid                by the Company with respect thereto. No adjustment will be made for                dividends or other rights for which the record date is prior to the                date                such certificate is issued. |
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