Exhibit 10.2


 


Form of


 


Restricted
Stock Award


 


Granted by


 


FIRST
SAVINGS FINANCIAL GROUP, INC.


 


under the


 


FIRST SAVINGS FINANCIAL GROUP,
INC.


2021 EQUITY INCENTIVE PLAN


 


This restricted stock agreement
(“Restricted Stock Award” or “Agreement”) is and will be subject in every respect to the provisions
of the 2021 Equity Incentive Plan (the “Plan”) of First Savings Financial Group, Inc. (the “Company”)
which are incorporated herein by reference and made a part hereof, subject to the provisions of this Agreement. A copy of the Plan and
related prospectus have been provided to each person granted a Restricted Stock Award pursuant to the Plan. The holder of this Restricted
Stock Award (the “Participant”) hereby accepts this Restricted Stock Award, subject to all the terms and provisions
of the Plan and this Agreement, and agrees that all decisions under and interpretations of the Plan and this Agreement by the committee
appointed to administer the Plan (“Committee”) or the Board of Directors will be final, binding and conclusive upon
the Participant and the Participant’s heirs, legal representatives, successors and permitted assigns. Except where the context otherwise
requires, the term “Company” includes the parent and all present and future subsidiaries of the Company as defined in Section
424(e) and 424(f) of the Internal Revenue Code of 1986, as amended. Capitalized terms used in this Agreement but not defined will have
the same meaning as in the Plan.


 


	1.	Name of Participant: ____________________________



 


	2.	Date of Grant: _________________________________



 


	3.	Total number of shares of Company common stock, $0.01 par value per share, covered by this
                                                                                                  Restricted Stock Award:______________________ (subject to adjustment
pursuant to Section 8 hereof).



 


	4.	Vesting Schedule. Except as otherwise provided in the Plan or this Agreement, this Restricted Stock
Award shall vest as follows:



 


	Vesting
    Date	Number of Shares Vesting
	 	 
	 	 




 


	5.	Grant of Restricted Stock Award. The Restricted Stock Award will be in the form of issued and outstanding
shares of Stock registered in the name of the Participant and held by the Company, together with a stock power executed by the Participant
in favor of the Company, pending the vesting or forfeiture of the Restricted Stock. Notwithstanding the foregoing, the Company may, in
its sole discretion, issue Restricted Stock in any other format (e.g., electronically) in order to facilitate the paperless transfer of
the Awards.



 


If certificated, the
certificates evidencing the Restricted Stock Award will bear a legend restricting the transferability of the Restricted Stock. The Restricted
Stock awarded to the Participant will not be sold, encumbered hypothecated or otherwise transferred except in accordance with the terms
of the Plan and this Agreement.


 






     


     


    

 


	6.	Terms and Conditions.



 


		6.1	The Participant will have the right to vote the shares of Restricted Stock awarded and outstanding under
this Agreement on matters that require a shareholder vote.



 


		6.2	Any cash dividends or distributions declared with respect to shares of Restricted Stock awarded and outstanding
under this Agreement will be distributed to the Participant at the time the dividends are paid on the underlying shares of Restricted
Stock.



 


	7.	Delivery of Shares. Delivery of shares of Stock under this Restricted Stock Award will comply with
all applicable laws (including, the requirements of the Securities Act), and the applicable requirements of any securities exchange or
similar entity.



 


	8.	Adjustment Provisions. This Restricted Stock Award, including the number of shares subject to the
Restricted Stock Award, will be adjusted upon the occurrence of the events specified in, and in accordance with the provisions of, Section
3.4 of the Plan.



 


	9.	Effect of Termination of Service on Restricted Stock Award.



 


		9.1	Upon the Participant’s Termination of Service, this Restricted
Stock Award will vest as follows:



 


		(i)	Death. In the event of the Participant’s Termination of Service by reason of death, any unvested
shares of Restricted Stock subject to this Agreement will immediately vest.



 


		(ii)	Disability. In the event of the Participant’s Termination of Service by reason of Disability,
any unvested shares of Restricted Stock subject to this Agreement will immediately vest.



 


		(iii)	Retirement. In the event of the Participant’s Termination of Service by reason of Retirement, any unvested shares of
Restricted Stock subject to this Agreement will expire and be forfeited as of the date of the Termination of Service.



 


		(iv)	Change in Control. In the event of the Participant’s Involuntary Termination of Service at or following a Change in Control,
any unvested shares of Restricted Stock subject to this Agreement will immediately vest.



 


		(v)	Termination for Cause. In the event of the Participant’s Termination of Service for
Cause, any unvested shares of Restricted Stock subject to this Agreement will expire and be forfeited as of the date of the Termination
of Service.



 


		(vi)	Other Termination. In the event of the Participant’s Termination of Service for any
reason other than due to death, Disability or for Cause or an Involuntary Termination of Service at or following a Change in Control,
any unvested shares of Restricted Stock subject to this Agreement will expire and be forfeited as of the date of the Termination of Service.



 


	10.	Miscellaneous.



 


		10.1	This Restricted Stock Award will confer upon the Participant any rights as a stockholder of the Company
with respect to the shares underlying the Award prior to the date on which the individual fulfills all conditions for receipt of such
rights.



 






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		10.2	This Agreement may not be amended or otherwise modified unless evidenced in writing and signed by the
Company and the Participant.



 


		10.3	This Restricted Stock Award is not transferable except as provided for in the Plan.



 


		10.4	This Restricted Stock Award will be governed by and construed in accordance with the laws of the State
of Indiana.



 


		10.5	This Restricted Stock Award is subject to all laws, regulations and orders of any governmental authority
which may be applicable thereto and, notwithstanding any of the provisions hereof, the Company will not be obligated to issue any shares
of Stock hereunder if the issuance of the shares would constitute a violation of any such law, regulation or order or any provision thereof.



 


		10.6	Restricted Stock Awards under this Agreement are subject to any required federal, state and local tax
withholding which may be effected in the manner or manners permitted by the Company.



 


		10.7	Nothing in this Agreement will interfere with or limit in any way the right of the Company or any Affiliate
to terminate the employment or service of the Participant at any time, nor confer upon the Participant any right to continue in the employ
or service of the Company or any Affiliate.



 


		10.8	In the event of a conflict between the terms of this Agreement and the Plan, the terms of the Plan will
control.



 


		10.9	This Award Agreement shall be binding upon any successor of the Company, in accordance with the terms of this Agreement and the Plan.



 


[Signature Page
Follows]


 






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IN WITNESS WHEREOF, the Company
has caused this instrument to be executed in its name and on its behalf as of the date of grant of this Restricted Stock Award set forth
above.


 


	 	FIRST SAVINGS FINANCIAL GROUP, INC.
	 	 
	 	 
	 	By:	           
	 	Its:	 




 


 


PARTICIPANT’S ACCEPTANCE


 


The undersigned hereby accepts
the foregoing Restricted Stock Award and agrees to the terms and conditions hereof, including the terms and provisions of the Plan. The
undersigned hereby acknowledges receipt of a copy of the Plan and related prospectus.


 


	 	PARTICIPANT
	 	 
	 	 
	 	 



 






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